New Delhi, Sept. 28 -- PB Fintech's stock fell another 3.4% on Friday to Rs.1,166, after plummeting as much as 36% on Thursday. The stock was punished in reaction to Irdai's consultation paper issued on 23 September, seeking to change the commission structure of insurance intermediaries. The risk for insurance intermediaries was always lurking ever since the Insurance Amendment Bill, 2025 was passed in December.

How much can be the impact? A fair estimate of the adverse earnings impact can be gauged by assuming the proposed commission changes were in effect for the June quarter (Q1FY27).

PB Fintech's core online insurance commission revenue was Rs.1,067 crore in Q1. The management has stated that the split between life and general insur...