In the world of finance and investment, insurance companies have marked a significant uptick in their stocks, thanks to their robust performance in February. Companies like LIC, HDFC Life, ICICI Pru, SBI Life, and others have shown remarkable growth in their new business premiums, leading to a bullish trend on the Bombay Stock Exchange (BSE).
A Surge in Premiums
February witnessed a significant leap in the new business premiums of several insurance giants. LIC, India’s largest public sector unit (PSU), led the charge with a staggering 67% increase in its premium. Close on its heels, Max Life reported a 51% growth, while ICICI Pru enjoyed a 32.5% rise. Other notable mentions include SBI Life with a 32.3% increase, HDFC Life with a 14.4% gain, and Bajaj Allianz with a 12.9% improvement in their premiums year-on-year.
Stock Performance Highlights
The surge in premiums translated into positive momentum in the stock market. Here’s how some of the key players fared:
LIC: Showcased an increase of 1.88% in morning deals, with a notable trading high at Rs 1044.75.
HDFC Life: Rose by 1.12% in the morning session, reaching a day’s high of Rs 628.70.
ICICI Pru: Experienced a 4.69% jump, nearly touching its 52-week high at Rs 615.55.
SBI Life: Climbed over 2%, achieving a high of Rs 1540.00.
Bajaj Allianz (Bajaj Finserv): Increased by 1.52%, with a day’s high of Rs 1606.60.
Star Health and The New India Assurance: Also saw appreciable gains, with jumps of 1.25% and 3.24%, respectively.
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