Insurance Stocks: Stock of prominent insurance companies such as LIC, HDFC Life, ICICI Pru, SBI Life, Bajaj Finance, Star Health, and New India Assurance are trading in positive territory on BSE on Monday (March 11, 2024) amid strong growth in new business premium in February.
While LIC gained more than 67 per cent, Max Life gained 51 per cent and ICICI Pru gained 32.5 per cent jump in its premium Year-on-Year in February.
SBI Life saw a rise of 32.3 per cent, HDFC Life gained 14.4 per cent, while Bajaj Allianz’s premium was up by 12.9 per cent.
Amid such growth, here’s how insurance stocks are performing on BSE.
LIC
India’s largest PSU traded higher by 1.88 per cent in morning deals on BSE on Monday.
The PSU stock was trading higher by 1.59 per cent, or Rs 16.05, at Rs 1044.75 at 10 am on Monday. Its day’s high is Rs 1044.75.
HDFC Life
The stock rose by 1.12 per cent in the morning session to the day’s high of Rs 628.70.
HDFC Life was trading higher by 0.73 per cent, or Rs 4.55, at Rs 626.30.
ICICI Pru
The stock rose by 4.69 per cent to the day’s high of Rs 614.45 in morning deals. It nearly hit its 52-week high of Rs 615.55.
The stock of ICICI Pru was up by 0.88 per cent, or Rs 5.15 at Rs 592.05.
SBI Life
The stock of the insurance company rose over 2 per cent to the day’s high of Rs 1540.00.
It was trading up by 0.92 per cent, or Rs 13.95, at Rs 1523.60.
Bajaj Allianz (Bajaj Finserv)
Bajaj Allianz is a joint venture between Allianz SE and Bajaj Finserv.
The stock of Bajaj Finserv 1.52 per cent to the day’s high of Rs 1606.60.
Bajaj Finserv was trading higher by 1.12 per cent, or Rs 17.75, at Rs 1600.35.
Star Health
The stock of the insurance firm jumped by 1.25 per cent to the day’s high of Rs 556.20.
It was trading up by 0.38 per cent, or Rs 2.10, at 551.45.
The New India Assurance
The stock of the insurance company jumped by 3.24 per cent to the day’s high of Rs 266.05.
It was trading flat at Rs 257.60.
