Reasonable growth, attractive valuations for life insurers' stocks

Analysts positive on most of the stocks, especially SBI Life, HDFC Life and LIC

Life insurance

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Devangshu Datta
The October-December quarter of the 2022-23 financial year (Q3FY23) and the nine-month (April-December 2022) performances of life insurers is expected to be satisfactory but there are divergent trends in December 2022.

Overall, APE (annual premium equivalent) growth will ease off year-on-year (YoY) due to a high base in Q3FY22. Most insurers will see stable or better margins sequentially on the VNB (value of new business) side due to sustained rise in non-par savings in the product mix.

Retail premium trends should be better on a sequential basis. The APE trend is up for Life Insurance Corporation of India (LIC), SBI Life and HDFC Life, but muted for ICICI Prudential Life (IPRU) and Max Life. 

First Published: Jan 11 2023 | 9:38 PM IST

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