InsuranceDekho And RenewBuy In Talks For Major Merger: Report
As per media reports, the proposed merger values InsuranceDekho at approximately Rs 5,000 crore, while RenewBuy is estimated at Rs 3,000 crore
According to media reports, InsuranceDekho is in advanced negotiations to merge with RenewBuy in a cash-and-stock deal, potentially valuing the combined entity at Rs 8,000 crore. If finalised, this merger could position the new entity as a leading player in the online insurance distribution market, RenewBuy shared according to media reports.
As per media reports, the proposed merger values InsuranceDekho at approximately Rs 5,000 crore, while RenewBuy is estimated at Rs 3,000 crore. “We are currently in the early stages of exploratory discussions to form a larger, consolidated entity. If this comes to fruition, it could establish us as an undisputed category leader,” RenewBuy stated.
RenewBuy believes that this major consolidation in the online insurance distribution sector would greatly benefit all stakeholders involved—consumers, agent distributors, insurers, employees, and shareholders alike, according to media reports. “As a significant player in the Insurtech space, we are continuously looking for business opportunities and growth avenues alongside various industry partners to strengthen our organization,” the company added.
However, RenewBuy did not disclose specific details regarding the merger. “These discussions are preliminary and exploratory, and the particulars of the deal remain far from finalization. It’s too early for us to comment further,” the company explained.
Based in Gurugram, InsuranceDekho is an online insurance comparison platform that allows users to evaluate different insurance policies based on their needs, helping them select the best plan. Backed by TVS Capital Funds, it operates under Girnar Insurance Brokers Pvt. Ltd. and collaborates with 48 insurance companies, offering over 630 plans.
Similarly, RenewBuy, also based in Gurugram, was co-founded by Balachander Sekhar and Indraneel Chatterjee. This rapidly growing online distribution platform provides a diverse array of life and general insurance policies, as well as other financial products, and is supported by investors such as Apis Partners and IIFL Asset Management.
