Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

PolicyBazaar nears IPO price as LIC partnership boosts outlook

As part of the agreement, IPO-bound LIC's products will now be available on the online insurance policy aggregator’s platform

February 04, 2022 / 10:23 AM IST
Stock Market Today:

Stock Market Today:

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of PolicyBazaar’s parent PB Fintech rose nearly 4 percent to the day’s high of Rs 972.4 on NSE in the morning trade on February 4 and closed in on the initial public offer price of Rs 980 a day after the company announced a partnership with life insurance giant LIC.

As part of the agreement, IPO-bound LIC's products will now be available on the online insurance policy aggregator’s platform and help it expand its reach.

The partnership will also see state-run insurers use a private aggregator to distribute its products to further boost its online presence.

"LIC, the country’s pioneer in life insurance, and Policybazaar.com have joined hands to offer a wide range of term and investment products to consumers," a joint statement by both the companies said on February 3.