Indian life insurers may post muted Q4 earnings, HSBC says

Nippon Life India Asset Management

10/04/2024 09:14

** HSBC expects India's life insurance companies to report
margin compression and muted annualised premium equivalent
growth in Q4 
    ** HDFC Life Insurance  HDFL.NS  down 1.6%, SBI Life
Insurance  SBIL.NS  down 0.7%, ICICI Prudential Life Insurance
 ICIR.NS  down 0.1%
    ** Brokerage expects operating performance to improve for
non-life insurers; raises PT for ICICI Lombard General Insurance
 ICIL.NS  to 1,990 rupees from 1,592 rupees
    ** ICIL down 0.5%
    ** HSBC expects asset management cos to perform well in Q4
due to strong net inflows, systematic investment plans, gains in
equities
    ** Brokerage prefers Nippon Life Asset Management  NIPF.NS 
due to higher earnings per share vs HDFC AMC  HDFA.NS  
    ** NIPF up 1.6%; HDFC AMC up 0.9%
    



 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))