Tarun Mathur has resigned from his position as CEO and principal officer of Policybazaar Insurance Brokers, the insurance broking arm of PB Fintech. The resignation is effective immediately.
Mathur cited personal commitments as the reason for his departure. His resignation was initially submitted to the board of directors on January 30, 2026, and was conditional upon the approval of his successor by the Insurance Regulatory and Development Authority of India (IRDAI).
The IRDAI granted its approval, clearing the way for the appointment of Sajja Praveen Chowdary as the principal officer and CEO of Policybazaar. Chowdary has been with the PB Fintech Group since 2011. Before this appointment, he headed the “Policybazaar for Business” vertical, which focuses on corporate and SME insurance, as well as reinsurance. Over his tenure, Chowdary has led multiple business lines and contributed to scaling Policybazaar’s retail insurance offerings, including motor and term life segments.
Chowdary was also involved in launching new solutions such as self-video inspection and zero-cost term insurance, aimed at simplifying insurance purchases for consumers. With more than 17 years of experience across business management, product and technology, and business development, Chowdary is expected to lead the next phase of growth for Policybazaar’s insurance broking business.
In related financial news, Policybazaar’s parent company, PB Fintech, reported a 165% increase in net profit to ₹189.4 Cr in Q3 FY26, up from ₹71.5 Cr in the same quarter last year. On a sequential basis, profit increased by 40% from ₹134.9 Cr. Revenue grew 37% year-on-year and 10% quarter-on-quarter to ₹1,771.1 Cr. Including other income of ₹84.9 Cr, the total income for the quarter stood at ₹1,856 Cr.
Total expenses rose 27% year-on-year to ₹1,655.4 Cr. Meanwhile, EBITDA surged 475% year-on-year to ₹159 Cr, while adjusted EBITDA stood at ₹199 Cr, with the margin improving from 6% to 11%.
Shares of PB Fintech were trading 3.48% higher at ₹1,510.50 on the BSE at 11:44 IST. The company’s market capitalization stood at approximately ₹69,900 Cr (about $7.56 Bn). However, the stock has experienced some pressure in recent months, falling about 15% from its late-2025 highs.
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