Jefferies has shared its outlook on the general insurance sector, noting that the Gross Direct Premium Income (GDPI) was flat year-on-year, with a mixed performance across various players. The current market price (CMP) of General Insurance Corporation of India stands at ₹371.80.
In the standalone health insurance (SAHI) category, growth was strong at 26% year-on-year, while diversified players saw a decline of 3%. Among individual insurers, ICICI Lombard continued to outperform, benefiting from reduced competitive intensity in the market.
Go Digit Insurance recorded a moderate portfolio recalibration, showing a growth of 5% year-on-year. TATA AIG Insurance demonstrated robust performance with a growth rate of 33%, whereas Bajaj Allianz reported a slowdown with an 8% decline. Star Health grew by 18%, although it underperformed compared to the SAHI average.
Jefferies remains cautious about the sector, given the divergent performance of key players and the challenges faced by diversified insurers.
Disclaimer: This information is for informational purposes only and should not be considered as investment advice.
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