← Top stories
Market move▼ Strongly bearish for PB Fintech
PB Fintech plunges as proposed IRDAI curbs rattle insurance distributors
The brief
- PB Fintech fell 36% in one day, wiping out ₹31,426 crore in market value
- Reports put the two-session decline at 38% to nearly 39%; mutual funds lost nearly ₹11,000 crore
- IRDAI proposed tighter curbs on insurance commissions and insurers’ management expenses
- Proposed commission limits threaten Policybazaar’s insurance distribution economics and PB Fintech shareholders
| Stock | Traded | That day | vs Nifty | Volume | Since |
|---|---|---|---|---|---|
| POLICYBZR | Fri, 25 Sept | −3.4% | −3.7% | 16× | −3.4% · Nifty +0.3% |
✓ Classifier read this as negative; POLICYBZR fell 3.7% against the Nifty on the day it traded.
- Should one buy the PB Fintech dip? Bernstein sees 91% upside but here's what others said
- Stock Picks Today: TCS, SBI, BPCL, Lenskart, PB Fintech And More On Brokerages' Radar
- PB Health’s hospital expansion plans on track: PB Fintech Chairman and Group CEO
- F&O Talk: 23,270 is a key Nifty hurdle; Sudeep Shah picks 5 stocks, discusses PB Fintech, Turtlemint strategy
- What Policybazaar’s Rs 34,000 crore wipeout reveals about the ills of insurance
IRDAI's proposed insurance distribution reforms
IRDAI proposed phased cuts to insurers’ expense limits, commission caps and a ban on compulsory insurance bundling with loans. The proposals prompted debate over premiums, mis-selling and distributor payouts, while reports highlighted possible earnings risks for PB Fintech.
Thursday, 24 September
- PB Fintech plunges as proposed IRDAI curbs rattle insurance distributors