Policybazaar, the most valuable insurance bazaar in the world
PB Fintech Ltd, the parent entity of Policybazaar and Paisabazaar, has emerged as the most valuable insurance marketplace in the world upon listing.
By ETtech |
ETtech
PB Fintech Ltd, the parent entity of Policybazaar and Paisabazaar, has emerged as the most valuable insurance marketplace in the world upon listing.
The stock closed at Rs 1,203 on the National Stock Exchange on Monday, 22.74% higher than its IPO price, valuing the company at $7.27 billion or Rs 54,043 crore.
Policybazaar had a domestic market share of 93.4% in the fiscal ended March 31, 2020. The insurance broker currently trades at 61 times market cap to sales compared to 45 times of US-based Goosehead Insurance or three times the UK-based Moneysupermarket.com.
For the year ended March 31, 2021, PB Fintech reported a revenue of Rs 887 crore and a net loss of Rs 150 crore. India’s most valuable insurance firm HDFC Life, which posted Rs 1361 crore net profit in FY21, is currently valued at Rs 1.44 lakh. India’s two other insurance giants — SBI Life and ICICI Prudential Life — are valued at Rs 1.16 lakh crore and Rs 95,465 crore, respectively.
