PB Fintech stock fell about 45% after IRDAI's consultation paper on insurance distribution commissions; CEO Yashish Dhahiya gave exclusive interview defending business model and apologizing for earlier harsh remarks

Mon 5 Oct 2026

Stock decline since paper

45 percent

Market value wiped off sector

1.6 lakh crore rupees

Claims reconsidered and paid

11,156 claims

Heard on business television between 09:23:10 - 09:26:10 IST.

• PB Fintech stock down about 45% since IRDAI consultation paper was released.
• CEO Yashish Dhahiya said the business model is based on customer value and will prosper if customer value is enhanced, citing focus on term insurance over savings products.
• Dhahiya said in health insurance, 11,156 claims rejected last year were reconsidered and paid by the company, showing customer value add.
• Dhahiya apologized for earlier 'extreme' comments made in frustration, saying the share price drop didn't bother him but being called 'not consumer-centric' in a TV interview did.
• He said the company welcomes the IRDAI paper, has not yet spoken to the regulator, and outlined four broad regulatory themes including reducing mis-selling; noted PolicyBazaar had run an 'Ullu Mat Bano' campaign back in 2009 against mis-selling.
• Panelist Parag noted regulatory risk around 'supernormal profits' being chopped off is a lens investors must now apply to consumer-facing businesses like insurance and hospitals.

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