Indian fintech giant Paytm to acquire Raheja QBE General Insurance

Indian fintech giant Paytm to acquire Raheja QBE General Insurance

FILE PHOTO: A worker adjusts a hoarding of Paytm, a digital payments firm, in Ahmedabad, India, January 31, 2019. REUTERS/Amit Dave

Vijay Shekhar Sharma-led digital payments firm Paytm is gearing up to foray into the general insurance space with the proposed acquisition of Mumbai headquartered Raheja QBE General Insurance Company.

Paytm, owned by One 97 Communications Limited, along with Sharma are set to buy the private sector general insurer from the Rajan Raheja Group and Australia’s QBE Insurance Group Ltd.

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