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INSURANCE DETAILED NEWS
Information about Life Insurance companies stakes in focus; ICICI Prudential Life, SBI Life gain up to 7% available for investment.
Life Insurance companies stakes in focus; ICICI Prudential Life, SBI Life gain up to 7%
06-May-20   14:18 Hrs IST


Shares of listed life insurance companies were trading actively at the bourses today, ralling up to 7% on the BSE, after SBI Life Insurance reported a good set of numbers for the quarter ended March 2020 (Q4FY20).

SBI Life Insurance gained 5% in the intra-day trade today, to hit a high of Rs 750, thereby surging 9% in the past two trading days on the BSE. On the other hand, ICICI Prudential Life Insurance (ICICI Pru) jumped 7.5% to Rs 403, and HDFC Life Insurance Company was up 4% to Rs 498 on the BSE. In comparison, the S&P BSE Sensex was quoting 1% higher at 31,766 points at 01:35 pm.

SBI Life reported improvement in Value of New Business (VNB) margins at 18.7% (+102bps yoy), with a shift in the product mix toward the non-par business as well as a gradual rise in protection plans.

Analysts believe that the overall insurance penetration in India is likely to rise post-Covid-19 scenario with individual as well as corporate customers becoming more cautious toward such crisis. They also remain certain that demand for pure protection is tend to rise, with individual customers getting more educated toward the risk that such insurance covers.

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