Paytm is looking to enter into the hot business of General Insurance. The company last year got the standalone license from IRDA which they are now surrendering. As per the news published by Business Standard, Paytm CEO Mr. Vijay Shekhar and Paytm parent company One97 are looking to acquire the General Insurance business of Raheja QBE for Rs. 568 Cr. Deal setup: Raheja QBE is selling its 100% stakes in the General Insurance Business to QorQI, a tech company owned by Mr. Vijay Shekhar and Paytm parent company One97 communication. Raheja QBE General Insurance: Raheja QBE is a joint venture between Rajan Raheja Group and QBE Insurance, Australia’s second-largest global insurer. Raheja QBE has been established to help create the most conducive environment for consumers and partners in the insurance sector. As per regulatory filings, Raheja QBE has revenue of Rs. 189 cr and Net-worth of 154 cr. More details can be accessed at https://www.rahejaqbe.com/ Positive for Paytm: The entry of Paytm in General Insurance will help it to grow inorganically to capture the insurance market at fast-pace instead of starting as a fresh business which it was initially looking for. The huge client base and brand of Paytm will leverage to grow fast in the insurance business. If this augur well, this could be the game-changer of Paytm which lately struggling with the mounting losses.