PB Fintech shares crash 36% to Rs 1,207 after IRDAI proposes commission cuts
- PB Fintech parent of Policybazaar on thursday saw its shares crash 36% to Rs 1,207.20 on the NSE, an 18-month low.
- The fall followed a proposal by the Insurance Regulatory and Development Authority of India to overhaul distribution economics.
- The draft caps health insurance payouts at 15-20% and term life commissions at 25%, and is open for feedback till late October.
- Analysts said the cuts may squeeze margins and the firm's model; Bernstein called the cuts harsher than expected.
Source: moneycontrol.com
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