Fundamentals continue to
support growth 6
What’s best for the West? 6
Outlook 9
FDI limit still rankles 11
Valuations cut 11
FDI: a boost or a threat? 17
FDI hike – a millstone and not yet a milestone 18
Life sector: from growth to
profitability? 20
Life insurance sector - snapshot of key components 24
Life insurance sector - snapshot of key components 25
Company commentary 31
ICICI Prudential Life Insurance 32
Bajaj Allianz Life Insurance 34
HDFC Standard Life Insurance Company 36
SBI Life Insurance 38
Birla Sun Life Insurance 40
Reliance Life Insurance 42
P&C sector: way below potential 45
Growth steadies 45
Non-life insurance sector - snapshot of key components 48
Company commentary 49
ICICI Lombard General Insurance 50
Bajaj Allianz General Insurance 52
Disclosure appendix 54
Disclaimer 57
Contents