New Delhi, Sept. 28 -- Shares of insurance companies like Turtlemint, ICICI Lombard General Insurance, HDFC Life Insurance, SBI Life Insurance and PB Fintech declined up to 4% on Monday, extending their losses for third session straight. The sell-off came after the IRDAI's new disclosure norms dampened investor sentiment towards insurance stocks.

Turtlemint shares fell more than 4% during Monday's session, marking their third consecutive decline. PB Fintech gave up most of its earlier gains and was trading less than 1% higher. ICICI Lombard slipped 2%, while HDFC Life Insurance and SBI Life Insurance fell 1% and 1.35%, respectively.

Insurance regulator IRDAI has proposed changes to the insurance distribution framework, including lower l...