There are several possible factors leading to the rally in the listed insurance pack, especially the private listed universe. Firstly, the growth in APE for all companies has been solid in Q1FY23. The growth for SBI Life is strong, but on a low base. Secondly, the VNB margins across companies has improved reasonably well. That has also been led by a higher non-par mix aiding profitability. Lastly, management guidance continues to be strong in the insurance space. Managements across companies, whether LIC or HDFC Life, are looking ahead at a strong FY23. Hersh Sayta breaks this down for us.
#Insurance #Insurancecompanies #SBIlife
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