Life Insurance Sector: Momentum takes a breather, Outlook continues to be strong
Strong private players are expected to continue to gain. Sharekhan believes most bank-backed insurance companies are showing resilience, along with players such as Bajaj Allianz Life Insurance Company and Max Life Insurance who also have strong and stable bancassurance partners. Among major players, HDFC Life outperformed peers, aided by its higher protection share, improving prices, and resumption of bancassurance channels business. Sharekhan believes the private insurance sector has generally been agile and were quick to deploy digital tools and operational tweaks to ensure business growth and continuity.
Sharekhan believes strong private players can steal a march over other peers in the long run. Sharekhan expects that the industry is likely to see improved consolidation in market share: Reuters