Insurtech Rout Erases $3.6 Billion From New-Age Tech Stocks This Week
Indiaโs new-age tech stocks ended the week under pressure, with insurtech names leading a broad sell-off after the Insurance Regulatory and Development Authority of Indiaโs proposed commission changes rattled investor sentiment. PB Fintech and Turtlemint were among the hardest hit, dragging the combined market capitalisation of the sector down by about $3.6 billion over the week.
