Synopsis
The insurance industry was highly impacted by the Covid-19 pandemic. The total amount of death claims paid by all insurers surpassed Rs 60,000 crore in the first nine months of FY22, over two times higher than the death claims paid for the corresponding period in FY21, which was nearly Rs 29,500 crore. Covid-19 has brought significant awareness about insurance.
Covid hit the insurance sector badly. There was a sudden uptick in claims and the industry has to manage the problem. The financial strength of individual companies in the sector will determine the fate of the respective stock’s performance.
Life insurance stocks have been through a period of underperformance for quite a long time. The largest life insurer in terms of market capitalisation, HDFC Life Insurance Company, is down by 19.5% in a
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