Paytm General Insurance Limited (PGIL), affiliated with One97 Communications, has retracted its application for general insurance registration with IRDAI. Instead, it will emphasize distributing insurance via Paytm Insurance Broking Private Limited (PIBPL). This strategic shift will save One97 Communications Limited (OCL) Rs 950 crore, initially earmarked for PGIL investment. The move aligns with Paytm’s transition to a distribution-centric approach, following regulatory scrutiny. Paytm now concentrates on expanding insurance distribution partnerships while PIBPL continues to offer embedded insurance products.