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Market move▼ Bearish for PB Fintech
New-Age Tech Stocks: Insurtech Sell-Off Drags Combined M-Cap Down By $3.6 Bn This Week
The brief
- New-age tech stocks’ combined market capitalisation fell $3.6 billion this week
- PB Fintech and Turtlemint saw a sharp sell-off following IRDAI’s proposed commission changes
- IRDAI’s proposed commission changes pressure PB Fintech and other Indian insurance platforms
- F&O Talk: 23,270 is a key Nifty hurdle; Sudeep Shah picks 5 stocks, discusses PB Fintech, Turtlemint strategy
- Stock Movers: NSE, Turtlemint, PB Fintech
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.
Saturday, 26 September
- New-Age Tech Stocks: Insurtech Sell-Off Drags Combined M-Cap Down By $3.6 Bn This Week