India's life insurers up as regulator's surrender value norms broadly 'in line'

Sbi Life Insurance

13/06/2024 07:02

** HDFC Life Insurance's  HDFL.NS  3% jump leads gains in
Indian life insurance stocks
    ** Relief rally as insurance regulator IRDAI's master
circular on surrender value calculation for life insurance
products is broadly "as anticipated", say analysts
    ** Max Financial  MAXI.NS  gains 2.5%; LIC  LIFI.NS  up
0.5%; ICICI Prudential Life Insurance  ICIR.NS  rises nearly 1%
    ** However, SBI Life Insurance  SBIL.NS  drops 0.4%
    ** Life insurance stocks, excluding LIFI, contracted 11%-25%
since March, factoring impact of higher surrender value and
value of new business (VNB) margins, say analysts
    ** "Overhang on life insurance stocks is now behind them.
For last six months these stocks massively underperformed
financials" - Emkay Global analyst Avinash Singh

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))