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PB Fintech Crashes 32% on IRDAI Commission Rules: Jefferies Reveals Top Insurance Picks Now

  • IRDAI proposed changes to insurance distribution rules, including lower or capped commissions across life, health, and motor insurance.
  • PB Fintech shares fell sharply after the proposal, while Turtlemint also declined; Max Financial Services shares fell as well.
  • Jefferies estimated that a 10% cut in new-business commissions could reduce PB Fintech and Turtlemint earnings by 10% to 12%.
  • IRDAI is accepting public feedback until October 25, 2026, with implementation proposed for financial year 2027–28.
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Moneycontrol broke the news in Mumbai, India on Thursday, September 24, 2026.
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