Multiple format opportunities for insurance
Insurance as a “very significant” sector in India, with 15% growth over the next 10-15 years and seen among the top five industry sectors, according to a panel.
“About seven to eight of the top hundred companies in terms of market cap in India are already insurance companies,” said Alpesh Shah, Senior Partner and Director at The Boston Consulting Group.
With more companies getting listed, insurance will be one of the top five industry sectors in the country, he pointed out.
“Projection of 15 per cent growth over a 10-15 year time frame is not audacious,” Rajesh Sud, Vice Chairman and Managing Director, Max Life Insurance Co Ltd.
India as a whole can offer a large opportunity to the insurance sector in multiple formats, Sud said during panel discussion at FINCON 2018, an annual conference organised by Federation of Indian Chambers of Commerce and Industry (FICCI) in Mumbai 19 Jan 2018.
“We are in a sweet spot,” he added, highlighting the well regulated market, with the fundamentals of growth intact.
Most investors look at Indian companies for their growth potential, elaborated Aashish Agarwal, Executive Director, CLSA, a brokereage and investment group.
“Global investors highly value the quality of management, which is very good in India.
“In addition, the regulator enjoys very high credibility,” said Agarwal. fii-news.com
