PB FinTech , the parent company of Policybazaar and Paisabazaar, has reported robust financial results for the second quarter of fiscal year 2026, demonstrating significant growth across key metrics.

Financial Highlights

• Revenue: The company's consolidated revenue from operations grew by 38% year-over-year to ₹1,614.00 crore in Q2 FY26.
• Profitability: PB FinTech's profit after tax (PAT) surged by 165% YoY to ₹135.00 crore, representing 1.77% of the total insurance premium.
• Insurance Premium: Total insurance premium for the quarter increased by 40% YoY to ₹7,605.00 crore.
• Core Online Insurance Premium: Grew by 34% YoY.
• New Protection Premium: Health and term insurance new premium saw a robust growth of 44% YoY.

Operational Performance

• Customer Satisfaction: The company maintained a consistent Insurance CSAT score of 90.5% for Q2 FY26.
• Renewal Revenue: On a 12-month rolling basis, renewal revenue reached ₹774.00 crore, up 39% YoY, driven by 47% growth in the insurance segment.
• New Initiatives: Revenue from new initiatives grew by 61% YoY, with adjusted EBITDA margin improving from -12% to -4%.

Segment-wise Performance

Insurance Business

• The core online insurance business continued to show strong growth, with new protection premium (health and term insurance) increasing by 44% YoY.
• PB Partners, the company's agent aggregator platform, consolidated its leadership with over 380,000 advisors.
• The platform expanded its presence to 19,000 pin codes across India, covering 99% of pin codes and driving growth in Tier 4 & 5 towns.

Credit Business

• The credit segment faced challenges, with core lending disbursal declining by 33% YoY. However, it showed signs of recovery with a 4% growth QoQ.
• The company's credit revenue for the quarter stood at ₹106.00 crore, with disbursals of ₹2,280.00 crore for the core online business.

International Operations

• PB FinTech's UAE insurance premium grew by 64% YoY, aligning more towards health and life insurance products.
• The UAE business has been consistently profitable for three quarters, offering unique value propositions such as cross-border health insurance products and claims assurance programs for motor insurance.

Financial Position

The company's balance sheet remains strong, with total assets of ₹793,921.00 lakhs as of September 30, 2025. The equity share capital stood at ₹9,186.00 lakhs, with other equity at ₹667,712.00 lakhs.

Management Commentary

Yashish Dahiya, Chairman and Chief Executive Officer, commented on the results: "Our focus on protection products and improving customer experience continues to drive our growth. The consistent CSAT score of 90.5% reflects our commitment to customer satisfaction. We are particularly encouraged by the strong performance of our new initiatives and the growth in our renewal revenue, which is a key driver of long-term profitability."

Performance Since Public Listing

PB FinTech's performance since its public listing in November 2021 has been noteworthy:

• Revenue has grown at a CAGR of 55% from ₹280.00 crore in Q2 FY22 to ₹1,614.00 crore in Q2 FY26.
• PAT margin has improved from -73% in Q2 FY22 to 8% in Q2 FY26.

The company's focus on expanding its product offerings, improving operational efficiency, and leveraging technology for better customer experience positions it well for continued growth in the evolving fintech landscape.

PB FinTech , the parent company of Policybazaar, a leading online insurance marketplace, has reported a significant shift in consumer behavior following the removal of Goods and Services Tax (GST) on term life and health insurance policies. The platform observed a 38% increase in high-sum insured health policies, indicating a growing trend towards more comprehensive coverage.

Key Findings

Health Coverage Trends

• Average health cover size increased from ₹13 lakh to ₹18 lakh
• 45% of buyers now opt for coverage between ₹15-25 lakh
• Only 18% choose plans below ₹10 lakh

Geographic and Demographic Shifts

• Tier-II cities showed increased adoption of higher coverage
  • Customers choosing ₹15-25 lakh coverage rose from 44.1% to 48.6%
• 11.5% increase in high-sum purchases among customers aged 61 and above

Add-ons and Riders

• 25% increase in Day-1 pre-existing disease add-ons
• 20% increase in critical illness riders
• 50% rise in policy renewal rider attachments

Impact on NRIs

The GST removal has simplified the term insurance purchase process for Non-Resident Indians (NRIs). Key changes include:

• Elimination of the requirement to pay premiums through NRE accounts
• No need for annual international address proof documentation

Analysis

The data suggests a clear shift towards higher-value health insurance policies across various demographics. This trend could be attributed to several factors:

1. Increased Awareness: The COVID-19 pandemic may have heightened awareness about the importance of comprehensive health coverage.

2. Affordability: The removal of GST has made higher-value policies more accessible to a broader range of consumers.

3. Tier-II Growth: The increased adoption in Tier-II cities indicates a growing insurance consciousness beyond metropolitan areas.

4. Senior Citizen Focus: The rise in high-sum purchases among older customers suggests a recognition of potentially higher healthcare costs in later years.

5. Customization: The uptick in add-ons and riders points to a desire for more tailored insurance solutions.

This shift in consumer behavior could have significant implications for the insurance industry, potentially driving product innovation and marketing strategies to cater to the growing demand for comprehensive coverage.