Lower commissions could push Policybazaar into insurance manufacturing: Yashish Dahiya

IRDAI's proposed commission caps — including a 15% first-year commission cap on individual health policies versus the prevailing ~30% for distributors, and 5% renewal/10% portability caps — could fundamentally disrupt PB Fintech's insurance distribution economics. Chairman Yashish Dahiya said the proposals, which he termed 'quite extreme,' have 'almost forced' the company to consider entering insurance manufacturing. The regulatory shock has already triggered a 36% stock crash, wiping off Rs 31,426 crore from PB Fintech's market capitalisation.