Insurance commission revamp to push insurtech firms to the brink

Proposed Commission Limits Affecting Insurtech Stocks

The insurance regulator has proposed reductions in commission limits for distributors selling products from multiple insurers. These changes would apply across health, term, and motor insurance sectors. In response, PB Fintech's shares, the parent company of Policybazaar, fell by 36% to Rs 1,210 on the BSE. Additionally, Turtlemint's stock decreased by 20% to Rs 109.10, reaching its daily lower circuit. The trading day saw PB Fintech losing approximately Rs 31,000 crore in market capitalization.

Original Source: https://economictimes.indiatimes.com/tech/technology/irdais-commission-reset-may-pressure-economics-for-new-age-insurers-banks-nbfcs/articleshow/134467143.cms