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Policy▼ Strongly bearish for PB Fintech
Insurance stocks fall as much as 34% after IRDAI distribution proposals
The brief
- PB Fintech and Turtlemint shares fell up to 34% after IRDAI's consultation paper
- HSBC said proposed expense limits are stringent and could affect insurers, brokers and lenders
- Proposed caps threaten distribution economics for PB Fintech, insurers, brokers and lenders
| Stock | Traded | That day | vs Nifty | Volume | Since |
|---|---|---|---|---|---|
| POLICYBZR | Thu, 24 Sept | −36.0% | −34.4% | 19× | −38.2% · Nifty −1.3% |
✓ Classifier read this as negative; POLICYBZR fell 34.4% against the Nifty on the day it traded.
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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
- Insurance stocks fall as much as 34% after IRDAI distribution proposals