PB Fintech s subsidiary, Policybazaar Insurance Brokers, has received approval to enter the reinsurance business. It reported a net profit of Rs 37.2 crore in Q3 with revenue from operations of Rs 871 crore. The company plans to apply for a payments aggregator license.
PB Fintech, the parent entity which operates insurance aggregator Policybazaar and credit marketplace Paisabazaar, has turned profitable and clocked its first ever net profit of Rs 37.2 crore for the third quarter ending December 31, 2023.
PB Fintech: The transaction is done at arm’s length basis, PB Fintech said adding that the arm is professionally managed company with no identifiable promoter.
Incoming SAP chairman Punit Renjen dwells at length on his new role, the opportunities it throws up, and his hopes for a wider collaboration between India and the US. Heres what he told us and more in todays Morning Dispatch.
US-based asset management firm Baron Capital has marked up the valuation of Swiggy and Pine Labs while slashing the valuation of edtech major Byjus by almost half. This comes at a time when several Indian startups have faced valuation markdowns in the past few months.