Insurtech - NewNerve

Gurugram-based fintech firm PB Fintech, which operates insurance marketplace Policybazaar and credit platform Paisabazaar, has seen a surge in interest from global and domestic institutional investors. Several early-stage investors in the company have exited their positions, either fully or partially, through bulk deals since the firm went public in 2021. American financial services major Capital Group, as well as asset management firms T. Rowe Price, Fidelity, and Vanguard, have all acquired significant stakes in PB Fintech. Capital Group now owns around 10% of the company through various investment vehicles, according to a person familiar with the matter. Here are the main highlights: Foreign portfolio investors (FPIs) have been actively acquiring shares in PB Fintech. This incl...

India’s health insurance sector is on the brink of a significant milestone, with projections indicating it will cross the Rs 1 lakh crore mark in FY24. This anticipated growth is not an isolated event but part of a consistent upward trend in the non-life insurance market, which is expected to grow at a rate of approximately 13-15% in the medium term1. The motor insurance segment has been a strong contributor to this growth, already surpassing the Rs 80,000 crore threshold. The health insurance segment, in particular, is expected to be a primary driver of growth, supported by increasing disposable income levels among consumers and a rise across other segments1. Several factors are contributing to the positive outlook for the health insurance sector: Favorable Regulatory Environment: Re...

Tag: Insurtech

Global Firms Acquire Majority Stake in PB Fintech as Early Investors Exit | July 3, 2024

India’s Health Insurance Sector: Poised to Break the Rs 1 Lakh Crore Barrier