PB Fintech may enter insurance manufacturing as IRDAI proposes commission cuts

IRDAI's proposed commission caps could wipe out up to 30% of PB Fintech's revenue, the Policybazaar operator said. The company may seek an insurance manufacturing licence and will slow hiring, but ruled out mass layoffs.

• PB Fintech expects general insurance revenue to fall 33–40% if commissions drop 60%
• Total revenue could shrink 30%; shares fell more than 30% after the draft
• Company may seek an insurance licence and wants IRDAI to approve an MGA framework
• No mass layoffs planned, but hiring will slow after about 6,000 hires in H1