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Home Non Banking Wealth & Asset Management

PolicyBazaar Raises $75 Million in its UAE and Middle East Expansion

The amalgamation of powerful insurance tools with advanced technology will aid the brand in scaling its business

The Global Economics by The Global Economics
March 17, 2021
in Wealth & Asset Management, Insurance, Top Stories
Reading Time: 1 min read
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PolicyBazaar Raises $75 Million in its UAE and Middle East Expansion

PolicyBazaar Raises $75 Million in its UAE and Middle East Expansion

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PolicyBazaar has announced it has raised $75 million to support its Middle East’s and UAE’s expansion plans, led by global alternative asset management firm Falcon Edge Capital. 

With assets worth $5 billion under management, the funding round by Falcon Edge Capital is the largest in the online insurance space across the UAE. 

Commenting on the investment, co-founder and CEO of PolicyBazaar, Yashish Dahiya stated that offerings of the digital insurance marketplace are well-timed with the increasing demand in the financial lending and digital sector. 

PolicyBazaar has raised the bar of digitization in the Indian insurance sector and hopes to follow the same model in the UAE in the next 18 to 24 months. 

In a statement, co-founder of Falcon Edge Capital, Navroz Udwadia said that PolicyBazaar can act as a catalyst to gain market leadership in the GCC, being the most efficient sales channel for insurance manufacturers. 

With a rigorous plan, the brand is all set to scale $100 million from previous sales of term life insurance products to $1 billion in the upcoming months, and build health, motor, and life insurance product categories in the UAE region. 

Tags: ceodigitaledge capitalexpansioninsurancenavroz udwadiaPolicy BazaarPolicyBazaaruaeyashish dahiya
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The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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