Turtlemint Crashes Another 20%, PB Fintech Falls 8% On IRDAI’s Proposed Commission Caps

The sell-off in insurtech stocks continued for the second straight session today as the Insurance Regulatory and Development Authority of India’s (IRDAI) proposed overhaul of insurance distribution commissions rattled investors. Shares of Policybazaar parent PB Fintech fell as much as 7.8% to touch a fresh 52-week low of ₹1,115.10 on the BSE. Meanwhile, Turtlemint shares opened at their 20% lower circuit of ₹87.30, which was also the stock’s fresh all-time low.