POLICYBZR FALL EVEN AS CEO DENIES REPORTS HE WILL QUIT

PB Fintech declined nearly 6% to an intraday low of ₹1,718.10 apiece amid speculation that Group CEO Yashish Dahiya could resign. Dahiya later dismissed the reports as false and confirmed that he would continue in his role. The decline came despite global brokerage Bernstein maintaining a positive view of the company’s regulatory outlook. According to Bernstein, PB Fintech is likely to face only a limited impact from the government’s proposed changes to insurance commission norms, with the regulatory overhang gradually easing. The Insurance Regulatory and Development Authority of India (IRDAI) is expected to issue a consultation paper on insurance commissions and distribution norms soon. The proposed framework is likely to address commission structures and expense limits across insurance products. Bernstein expects banks to face a more significant reduction in commissions, particularly on hard-bundled products, while retail insurance products, including retail life insurance, could see relatively smaller cuts. The brokerage believes the final commission structure will be determined in consultation with the insurance industry and expects the regulatory changes to be resolved amicably. It therefore sees a limited impact on PB Fintech from the proposed commission-related norms.