Paytm has announced a Joint Venture general insurance company named as Paytm General Insurance Ltd (PGIL).
Paytm parent One97 Communications said it has formed a joint venture general insurance company in which it plans to invest ₹950 crore in 10 years and to hold upfront equity stake of 74 per cent. PGIL will become a subsidiary of the Paytm. PGIL will seek a license for a general insurance business from the insurance regulator IRDAI.