PB Fintech, Turtlemint Fall Sharply on IRDAI Proposal
· Business · Upstox, Moneycontrol
PB Fintech fell 15% and Turtlemint dropped 20% after IRDAI proposed new rules for insurance distributors. HDFC Life and ICICI Prudential Life shares each declined 7% as the commission proposal unsettled insurers. The measures would cap commissions at 10% for 13-year policies and 7.5% for 17-year policies. The proposal would cap commissions at 3% for one-year policies and 2% for policies covering 10 years or less. The exact provisions, timing and rationale remain unclear.
Why it matters
The proposal could change commission structures for insurance distributors and earnings expectations for listed insurers. PB Fintech, Turtlemint, HDFC Life and ICICI Prudential Life were among the affected companies.
Read the original report — Upstox
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