Raheja QBE is a joint venture of India’s Prism Johnson (51%) and QBE Australia (49% ).
Following the acquisition, Sharma, who owns 51% stake in QorQI, will hold the same stake in Raheja QBE, with the remaining 49% owned by Paytm.
The acquisition will require further approvals other than the approval of Insurance Regulatory and Development Authority of India (IRDAI).
Paytm will innovate in insurance products and services:
Raheja QBE’s all employees would continue to work from its offices in Mumbai and other places. Paytm will innovate in insurance products and services using QBE’s customer base to increase their reach and acceptance.
Headquarters– Noida, Uttar Pradesh
President– Amit Nayyar
About Raheja QBE General Insurance:
Location– Mumbai, Maharashtra
CEO– Pankaj Arora