# Insurance Sector
> Under-penetration at 4% of GDP versus 7% global average creates a decade-long structural growth runway.

## Overview
Market Cap: ₹13,15,748 Cr
Avg P/E: 99.1
Avg ROE: 9.5%
Avg ROCE: 41.0%
1Y Return: -4.45%
Companies: 15

## Data Freshness
Sector Updated: 2026-05-22T07:41:16.292Z
Updated By: daily market-close sync and live stock-data refresh

## Companies
- Life Insurance Corporation of India (LICI): ₹800.2 | PE 9.59 | MCap ₹5,08,214 Cr
- SBI Life Insurance Company Ltd (SBILIFE): ₹1859.9 | PE 75.75 | MCap ₹1,87,001 Cr
- HDFC Life Insurance Company Ltd (HDFCLIFE): ₹614.35 | PE 68.48 | MCap ₹1,31,324 Cr
- ICICI Lombard General Insurance Company Ltd (ICICIGI): ₹1801 | PE 33.22 | MCap ₹91,473 Cr
- PB Fintech Ltd (POLICYBZR): ₹1819.3 | PE 116.25 | MCap ₹77,987 Cr
- ICICI Prudential Life Insurance Company Ltd (ICICIPRULI): ₹510.1 | PE 48.31 | MCap ₹77,555 Cr
- General Insurance Corporation of India (GICRE): ₹388.25 | PE 6.95 | MCap ₹66,922 Cr
- Max Financial Services Ltd (MFSL): ₹1626 | PE 665.75 | MCap ₹55,104 Cr
- Star Health and Allied Insurance Company Ltd (STARHEALTH): ₹526.65 | PE 52.7 | MCap ₹29,397 Cr
- Go Digit General Insurance Ltd (GODIGIT): ₹309.85 | PE 52.5 | MCap ₹28,482 Cr
- The New India Assurance Company Ltd (NIACL): ₹166.08 | PE 18.94 | MCap ₹26,722 Cr
- Niva Bupa Health Insurance Company Ltd (NIVABUPA): ₹83.62 | PE 112.66 | MCap ₹14,778 Cr
- Canara HSBC Life Insurance Company Ltd (CANHLIFE): ₹139.21 | PE 101.2 | MCap ₹12,752 Cr
- Religare Enterprises Ltd (RELIGARE): ₹229.96 | PE 83.85 | MCap ₹7,264 Cr
- IIRM Holdings India Ltd (IIRM): ₹107.52 | PE 39.53 | MCap ₹773 Cr

## Analysis
India's insurance penetration at 4% of GDP is significantly below the global average of 7%, presenting a massive growth opportunity. Life insurance premiums are growing at 12-15% annually, driven by increasing financial awareness and favorable demographics. Health insurance has seen explosive growth post-COVID, with standalone health insurers growing at 25-30%. Distribution is shifting towards digital channels, reducing acquisition costs. Key metrics: Value of New Business (VNB), VNB margin, persistency ratios, combined ratio (for general insurers), and embedded value growth. The sector benefits from long-duration liabilities, float income, and relatively predictable cash flows. Valuations are typically measured on P/EV (Price to Embedded Value) basis at 2-4x for quality names.

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Source: rupiya.io/sectors/insurance
Disclaimer: For research and education only. Not investment advice.