Ola Financial Services to expand insurance business internationally

Ola Financial Services (OFS) — a subsidiary of Ola — is looking to expand its insurance business internationally to support the company’s mobility service through products designed for the UK and Australia and New Zealand (ANZ) markets.

Ola’s parent company ANI Technologies said OFS had a turbulent year (FY21) with the impact of external factors on the lending environment in general and the double impact on mobility business and its spillover to the OlaMoney brand.

“OFS successfully managed to control its risk and limit its exposure to the worsening credit environment by taking proactive steps to reduce risk,” ANI Technologies said in a regulatory document filed with the Registrar of Companies (RoC).