Insurance stocks fall after IRDAI proposes changes to commissions

Insurance stocks fell sharply on Thursday after IRDAI proposed changes to how insurers and distributors can spend money and pay commissions. TurtleMint was the top loser, hitting its 20% lower circuit, while PB Fintech also hit its 10% lower circuit. Shares of ICICI Prudential Life Insurance, HDFC Life, SBI Life, ICICI Lombard and LIC also declined.