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HSBC has marked a 'Buy' rating for the following stocks: SBI Life, HDFC Life Insurance, ICICI Prudential and PB Fint.
HSBC forecasts annual-premium-equivalent growth for life insurers to moderate to 7% year-on-year.
KEY POINTS
- 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
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