Indian insurers see modest growth for FY2020 at 4-15%

Coverage stocks will likely meet annual premium equivalent (APE) growth expectations.

Indian insurers are facing a moderate growth for FY2020 at 4-15% as the improvement in November means coverage stocks will likely meet annual premium equivalent (APE) growth expectations.

Expectations for SBI Life and HDFC Life have been lowered for next year, but the latter is seen to have a favorable base from November, according to Nomura analysts Adarsh Parasrampuria, Amit Nanavati and Tanuj Kyal.

Insurance stocks that were covered inched up 10-20% in the past three months and 20-35% for the last half year.

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