Bhubaneswar, July 6 -- New Delhi: Leading digital payments platform Paytm along with its founder Vijay Shekhar Sharma on Monday announced the acquisition of Mumbai-based private sector general insurance company Raheja QBE, to democratize general insurance services in the country.

Raheja QBE, which started its operations in 2009, is a joint venture between Prism Johnson Limited and QBE Insurance Group, one of Australia's largest insurers.

Prism Johnson Ltd approved divestment of its entire holding of 51 per cent in Raheja QBE General Insurance Company Limited (RQBE) to QORQL Private Limited, a technology company with majority shareholding by Sharma and the remaining held by Paytm (owned by One97 Communications Limited), for an aggregate ...