The reason insurers were using mostly bank as sales channel because they could. Now if there is a curtailment there, they will find other ways. As such this is a hare-brained law designed by people who have never run businesses. It’s like telling Trent to not make more than 50% of their sales from their private owned brand.
I think investors are reading too much into such news. Let the next quarterly numbers come in and it will be a lot easier to determine how much impact it will cause.