PB Fintech insurance premium increases 70% yoy to Rs2,177 crore in Q4FY22

6 Apr 2022 , 11:08 AM

PB Fintech Group’s total insurance premium increased to an aggregate of Rs2,177 crore for the quarter ended March 31, 2022 marking a growth of 70% versus same quarter last year.

For the fiscal year ended March 31, 2022, vs last year, total insurance premium increased to an aggregate of Rs6,975 crore, registering a growth of 46%.

At around 11.11 am, PB Fintech Limited was trading at Rs776.95 per piece down Rs38.70 or 4.74% on the BSE.

Health & Life insurance (India business excluding POSP)
a. For the quarter ended March 31, 2022, vs the same quarter last year
i. New life insurance premiums grew at 38%.
ii. Total health insurance premium grew at 40%.
b. For the fiscal year ended March 31, 2022, vs last year
i. New life insurance premiums grew at 40%.
ii. Total health insurance premium grew at 47%.

3) Paisabazaar
a. For the quarter ended March 31, 2022 vs same quarter last year
i. Disbursement of loans grew to an aggregate of INR 2,189 Cr registering a growth of 72%.
ii. Credit Cards issued through Paisabazaar grew at 299% to 73k.
b. For the fiscal year ended March 31, 2022, vs last year
i. ~The aggregate disbursement grew at 126% to INR 6,607 Cr.
ii. 162k credit cards were issued against 45k issued in the last fiscal year.
iii. 2.7 crore consumers availed of the Credit Score product as of March 31, 2022 vs 2.2 crore as of March 31, 2021.

Insurance premium through POSP (B2B2C business) for March 2022 crossed Rs200 crore per month making it a clear market leader in the category within 9 months of commencing operations. A total premium of Rs745 crore was generated for the fiscal year ended March 2022.

Insurance premium for Dubai business grew at 132% to Rs124 crore for the fiscal year ended March 2022 over the last fiscal year.