According to local reports, reinsurer Swiss Re is planning to make a Rs 920 crore (USD 123 million) investment in the Paytm Insuretech Private Limited (PIT) business of Indian financial services firm Paytm, through which it will take a 23% stake in the initiative.
Paytm, which specializes in digital payment systems, e-commerce and finance, plans to leverage its customer base via the insurtech unit to develop new insurance products and solutions.
