Economy
IRDAI Distribution Proposals Cause Insurance Stocks to Crash
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THE BRIEF
1
Insurance equities including PB Fintech, HDFC Life, and SBI Life tumbled on Thursday following proposed distribution reforms by the Insurance Regulatory and Development Authority of India.
2
TurtleMint and PB Fintech hit their respective lower circuits of 20% at ₹109.10 and 10% at ₹1,701.00, while ICICI Prudential Life dropped 7.6% to ₹448.
3
The framework seeks to cap commissions across products and distribution channels, restricting bank-led insurance sales commissions to 2% to 5% and inviting stakeholder feedback until October 25.