{
  "id": 10447805,
  "title": "PB Fintech Sheds Over ₹34K Cr In M-Cap In 3 Sessions, Turtlemint Loses ₹1,549 Cr",
  "url": "https://urgent.news/2026/09/28/pb-fintech-sheds-over-34k-cr-in-m-cap-in-3-sessions-turtlemint-loses",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-28T11:53:07.000Z",
  "source": {
    "name": "Inc42",
    "slug": "inc42",
    "url": "https://inc42.com/buzz/pb-fintech-sheds-over-%e2%82%b934k-cr-in-m-cap-in-3-sessions-turtlemint-loses-%e2%82%b91549-cr/"
  },
  "original_language": "en",
  "account": "Insurtech firms Turtlemint and PB Fintech have experienced significant declines in market capitalization over the past three trading sessions, experiencing a combined loss of over ₹35,705 crore. Turtlemint's shares fell to a new intraday low of ₹81.45, while PB Fintech's declined to ₹1,151.90. The bearish trend is attributed to the IRDAI's consultation paper, which proposes to reintroduce product-level commission caps following their removal and the shift to an expense of management framework. This move aims to curb mis-selling and reduce distribution costs for customers, but could have a significant impact on the business models of insurance distributors like Turtlemint and PB Fintech, as commissions play a crucial role in their revenue and customer acquisition strategies. The proposed regulation would set different caps based on the insurance product, distribution channel, and effort involved in selling and servicing a policy, potentially leading to a 10-12% decline in earnings for these companies if new-business commission rates are reduced by 10%.",
  "summary": "Shares of insurtech companies Turtlemint and PB Fintech continued to spiral today, losing over ₹35,705 Cr in cumulative market capitalisation…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}