PB Fintech shares fall over 30% after IRDAI proposes lower insurance commissions

"The shares of PB Fintech, the parent company of Policybazaar, fell over 30% in Thursday"s trade after the Insurance Regulatory and Development Authority of India (IRDAI) proposed changes to insurance distribution and commission structures. On the stock exchange, PB Fintech's stock fell from its previous close of Rs 1,886.30 to Rs 1,282 during the day. The sell-off came after IRDAI released its consultation paper on September 23. The regulator has proposed product- and channel-wise caps on commissions across life, health…