{
  "id": 9509635,
  "title": "PB Fintech loses Rs 22,700 cr from market value as stock crashes 26% after IRDAI’s reform plans. What Citi and Jefferies are warning",
  "url": "https://urgent.news/2026/09/24/pb-fintech-loses-rs-22-700-cr-from-market-value-as-stock-crashes-26",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T06:51:55.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/stocks/news/pb-fintech-loses-rs-22700-cr-from-market-value-as-stock-crashes-26-after-irdais-reform-plans-what-citi-and-jefferies-are-warning/articleshow/134454219.cms"
  },
  "original_language": "en",
  "account": "PB Fintech, the parent company of Policybazaar, saw its stock crash by 26% on Thursday, losing more than Rs 22,700 crore from its market value as IRDAI's reform plans took effect. The stock fell to Rs 1,395.70 per share on the NSE, marking its worst single-day decline since its listing in November 2021. Turtlemint Fintech Solutions also suffered a 20% drop, trading at Rs 109.04 apiece and recording its steepest decline since its June listing. The Insurance Regulatory and Development Authority of India (IRDAI) proposed a major overhaul of how insurers pay commissions to distributors, with limits tied to product type, distribution channel, policy size, and sales effort. Jefferies warned that the new norms could negatively impact distributors like PB Fintech and Turtlemint, as a 10% cut in new business commission rates could result in a 10-12% fall in their earnings.",
  "summary": "PB Fintech shares plunged 26%, wiping out nearly Rs 22,703 crore from its market capitalisation after IRDAI proposed changes to insurance commission structures. Jefferies flagged risks to distributor earnings, while Citi warned of a potential sharp compression in distribution economics across several high-margin insurance categories.",
  "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."
}