PB Fintech plunges 36% as IRDAI proposes commission overhaul
Shares of PB Fintech crashed nearly 36 per cent on Thursday to a 52-week low after the Insurance Regulatory and Development Authority of India proposed sweeping changes to insurance distribution rules, including tighter expense caps, audits and disclosures.
The proposal to cap commissions, link them to product complexity and let life insurers spread commissions beyond the first policy year spooked investors about distributor economics. Turtlemint Fintech sank 20 per cent in sympathy.
Insurance stocks including HDFC Life, SBI Life, ICICI Prudential Life, LIC and ICICI Lombard also came under heavy selling, dragging the broader financial services index down over 2 per cent.
Originally reported by Multibagg AI. Article compiled by the Deccan Age desk.
