SoftBank is showing increased interest in the insurance sector and last month led a $120 million investment in the New York-based home insurance startup, Lemonade Inc. Photo: BloombergBangalore/London: SoftBank Group Corp. is in talks to back leading online insurance aggregator PolicyBazaar at a valuation of at least $800 million, according to people familiar with the matter. “The [foreign direct investment] cap will not be a challenge as we have firm offers from domestic investors with ready capital who can balance out any foreign investment,” he said. PolicyBazaar is part of a wave of upstarts seeking to challenge the dominance of banks and government insurers in India’s insurance market. India’s market potential is immense as the population is largely uninsured or under-insured. The investor is showing increased interest in the insurance sector and last month led a $120 million investment in the New York-based home insurance startup, Lemonade Inc. Bloomberg

Source: Mint January 25, 2018 09:22 UTC