IMO no analyst, no retail investor and very few people within these organisations itself understand Life or be it any insurance business…
In such extreme uncertain scenario, valuations tend to favour groups with long term stable history or superior growth, network and backing.
Without any doubt, HDFC group has one of most stable history among financials and SBI Life has backing and network of numero uno Indian bank SBI inspite of having a somewhat private company DNA. Not to mention the superior growth so far compared to other two…
The other aspect is the kind of risk one company takes to achieve the same growth. One possible way that would be evident in Life insurance companies is via their product mix. Maybe you can get your answer by evaluating each one’s product mix and the kind of growth they achieved via same.
Disc. Invested in HDFC Life and SBI Life hence biased. Can be completely wrong in all my assessments. Above views only for academic purposes and not a buy/sell recommendation.
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