# HSBC has marked a 'Buy' rating for the following stocks: SBI Life, HDFC Life Insurance, ICICI Prudential and PB Fint.

*business · news · 2026-04-09 · NDTV Profit*

## Key points

- HSBC forecasts annual-premium-equivalent growth for life insurers to moderate to 7% year-on-year.
- HSBC cut value of new business estimates by 4-7% for HDFC Life and ICICI Prudential.
- SBI Life is preferred due to resilience to GST changes and potential commission-limit revisions.
- Non-life insurers are expected to outperform life insurers and AMCs amid current market volatility.
- HSBC issued 'Buy' ratings for SBI Life, HDFC Life, ICICI Prudential, ICICI Lombard, ICICI Prudential AMC, and PB Fintech.

**Companies:** HDFC Life Insurance Company, ICICI Prudential Life Insurance, SBI Life Insurance, ICICI Lombard, ICICI Prudential AMC, PB Fintech
**Countries:** India

[Read the full story on NDTV Profit](https://www.ndtvprofit.com/markets/insurance-earnings-to-take-a-hit-amid-weak-demand-says-hsbc-revises-target-price-for-hdfc-life-icici-prudential-others-should-you-buy-11331947)

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