– Resilient during economic downturns – Expanding middle class driving insurance demand – Life & health segments gaining long-term tailwinds
Risks to Consider
– IRDAI regulation and pricing caps – Lower-than-expected claim ratios hurt profitability – High competition from private players
Investment Insights
– Look for companies with strong solvency and growth in APE/VNB – Favor diversified players across life, health, and general – Use SIPs to ride long-term financialization of India