Paytm to acquire Raheja QBE General Insurance to expand its financial services offerings

Digital payments platform Paytm is set to expand into insurance, with the acquisition of Mumbai-based Raheja QBE General Insurance for $ 76 Mn.
Currently, Prism Johnson holds 51% stake in Raheja QBE, while the remaining 49 per cent stake is owned by QBE Australia.
This acquisition is through QorQl Pvt. Ltd, a technology company with majority shareholding of Vijay Shekhar Sharma and remaining held by Paytm. Paytm will use its large consumer base and merchant ecosystem to innovate insurance products and services to accelerate its reach and adoption.