{
  "id": 9504474,
  "title": "PB Fintech Crashes 26%, Turtlemint Hits Lower Circuit On IRDAI Commission Cap Plan",
  "url": "https://urgent.news/2026/09/24/pb-fintech-crashes-26-turtlemint-hits-lower-circuit-on-irdai",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T05:57:33.000Z",
  "source": {
    "name": "Inc42",
    "slug": "inc42",
    "url": "https://inc42.com/buzz/pb-fintech-crashes-26-turtlemint-hits-lower-circuit-on-irdai-commission-cap-plan/"
  },
  "original_language": "en",
  "account": "Policybazaar's parent company, PB Fintech, and Turtlemint experienced a significant drop in their stock prices after the Insurance Regulatory and Development Authority of India (IRDAI) proposed a comprehensive revamp of insurance distribution, including stringent commission caps and reduced expenses for management (EoM) limits. PB Fintech's shares plummeted by 26% to ₹1,398.60 on the BSE, hitting the revised lower price band, while Turtlemint's shares reached their 20% lower circuit at ₹109.10, marking the lowest point of the stock's existence. The market capitalization of PB Fintech fell to ₹64,720.6 Cr ($6.7 Bn), and Turtlemint's to ₹3,212.8 Cr ($333 Mn). The sell-off occurred following the release of IRDAI's consultation paper, which aimed to recalibrate the economics of insurance distribution through reduced commissions and insurer expenses, promoting transparency and accountability for distributors. Key proposals included nil commission on third-party insurance for new vehicles, a 5% cap on new-vehicle own-damage, personal accident, and legal liability covers, and caps on commissions for distribution entities, ranging from 15% for individual health insurance to 5% for renewals and portability. IRDAI sought stakeholder feedback by October 25, with the proposed restrictions having significant implications for insurance distributors, insurers, and brokers.",
  "summary": "Shares of Policybazaar parent PB Fintech and insurtech company Turtlemint crashed after the Insurance Regulatory and Development Authority of India…",
  "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."
}