Swiss Re to buy 23 per cent stake in Paytm Insuretech for about Rs 920 crore

NEW DELHI: Digital payments and financial services firm Paytm on Wednesday said Switzerland-based reinsurance major Swiss Re will buy a 23 per cent stake in Paytm Insuretech for about Rs 920 crore.

Paytm’s insurance unit, Paytm Insuretech (PIT), plans to leverage Paytm’s customer base and merchant ecosystem to develop innovative insurance products.