Indian insurance firms up on report of higher surrender value for policyholders

Max Financial Services

04/03/2024 08:19

** Shares of insurers ICICI Prudential  ICIR.NS , HDFC Life
Insurance  HDFL.NS , Max Financial  MAXI.NS , General Insurance
Corp of India (GIC)  GENA.NS , New India Assurance  THEE.NS  up
2%-4%
    ** Insurance regulator IRDAI may consider rationalising
proposal on increasing surrender value to policyholders,
CNBC-TV18 report
    ** Policies surrendered after five years could be considered
long-term and before five years may be considered short-term,
eligible for higher surrender value - report 
    ** Earlier proposed rise in surrender value would have
significantly impacted insurers' margins - CNBC-TV18 
    ** HDFL's 3.5% rise highest among insurance stocks, followed
by ICIR's 3.3%, while GIC and THEE both up 2%
    ** Life Insurance Corp of India (LIC)  LIFI.NS  up 0.8%
after the report, while SBI Life Insurance  SBIL.NS  trims
losses to trade 1.4% lower 

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))