India: Swiss Re to invest $123m for 23% stake in Paytm Insuretech

India: Swiss Re to invest $123m for 23% stake in Paytm Insuretech

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Switzerland-based reinsurance company Swiss Re will invest ₹920 crore (roughly $127 million) in Paytm’s general insurance business for a 23% stake on a fully diluted business, the Noida-based financial services company said on Wednesday.

Swiss Re will invest ₹397.3 crore (roughly $52.9 million) upfront in Paytm Insuretech Private Limited (PIT) and the remaining in tranches, subject to fulfilment of certain milestones.

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