PB Fintech Sheds Over ₹34K Cr In M-Cap In 3 Sessions, Turtlemint Loses ₹1,549 Cr

by · Inc42

SUMMARY

  • PB Fintech and Turtlemint have lost over ₹35,705 Cr in combined market cap in three sessions after IRDAI proposed new product-level commission caps for insurance distributors
  • The proposed changes could pressure commissions, customer acquisition costs and earnings for digital insurance distributors, with Jefferies estimating a 10% cut in new-business commissions could reduce earnings by 10-12%
  • PB Fintech lost ₹34,155.78 Cr in market cap while Turtlemint lost ₹1,548.96 Cr; the IRDAI consultation proposes varying commission ceilings across products and distribution channels, with stakeholder comments due by October 25