Paytm Starts Its Insurance Venture

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After getting license from the insurance regulator, the company has incorporated insurance companies to cater to both the general and life insurance.

As per filing with the Ministry of Corporate Affairs, the company has launched two companies named Paytm Life Insurance Corporation Ltd and Paytm General Insurance Corporation Ltd. The parent company One97 Communications and the founder of the company, Vijay Shekhar shall have the majority stake in the two companies.

The two companies have been reported to have a share capital of Rs. 10 lakh each.

The company previously created a wealth management and a financial company to offer an array of financial products.

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