PB Fintech: Most valuable insurance bazaar in the world

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PB Fintech, the parent company of online insurance policy platform Policybazaar, made a record market debut on Monday by emerging as the world’s most valuable insurance marketplace.

The stock closed at Rs 1,203, 22.74% above its IPO price, valuing the company at Rs 54,070 crore, more than the combined market capitalization of two state-owned insurers, The New India Assurance and General Insurance Corporation.

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Policybazaar’s share in the domestic market was 93.4% in fiscal year 2020. It is currently trading at 61 times the sales market value. For fiscal year 21, PB Fintech reported revenue of Rs.887 crore and a net loss of Rs.150 crore.

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