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PB Fintech: Policy clouds loom
Mint Mumbai
|December 18, 2025
Strong suit
Shares of PB Fintech Ltd have fallen 8% over the past two trading sessions, as the Insurance Amendment Bill 2025 emerges as a potential headwind. The stock had only just begun to recover from recent goods and services tax (GST) changes.
Before delving into the insurance bill, it's worth understanding the GST impact. PB Fintech's online insurance broking business, policybazaar.com, earns commissions from insurance firms. Since 22 September, collection of insurance premiums has been exempt from GST, meaning GST paid on commissions is no longer available as input tax credit. This has increased costs for insurers, some of whom may offset the impact by cutting broker commission.
The exact extent of commission cuts due to GST changes, if any, will likely be reflected in Q3FY26 results, or at the latest, in Q4FY26.
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