Phillip Capital has initiated coverage on India’s insurance sector with a bullish outlook, favouring ICICI Lombard and Max Financial as top picks, expecting over 20% returns. The brokerage highlights sector recovery as regulatory pressures ease, growth improves, and valuations stay attractive, with strong long-term tailwinds from rising insurance penetration and market expansion.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets