Paytm to File for New License for General Insurance


Digital payments and financial services company Paytm is reportedly planning to get a new general insurance license with a fresh application.

As per the company’s exchange filing, Paytm Insuretech Private Limited, the associate company of Paytm, has entered into a share purchase agreement to acquire 100 per cent of Raheja QBE General Insurance Company Limited. the

The company has proposed a majority shareholding with a 74% upfront equity stake.

“We intend to seek requisite approvals for a new general insurance license, wherein we hold a 74 per cent majority shareholding upfront,” the company said.

According to the Paytm, the company’s lending business has an annualized run rate of Rs 20,000 crore.

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