Sector Alpha Week of 2026-07-29
20-quarter listed-company comparison

Finance - Insurance Stocks in India

Finance - Insurance: Life Insurance Corporation of India owns the largest revenue base; Niva Bupa Health Insurance Company Ltd has the fastest current growth.

Nifty Finance - Insurance Index — Constituents & Performance

The Finance - Insurance companies below are the listed Indian Finance - Insurance universe this page tracks — the same constituent set people search for as the Nifty Finance - Insurance index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

The sector itself · before any single company

How has Finance - Insurance moved against NIFTY 500?

The line below covers 5.1 years. Over the most recent two of them this sector is 6% behind NIFTY 500. Earnings across its companies grew 13% on average over the last four reported quarters.

TURNING · ahead 2w✓Moving with the index2 of 8 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑2w · 4/8 >200d (+1) · 2/8 lead (+0) · EPS 6/7↑

200300202620252024202320222021 272336 TRAILING 12-MONTH EPS · 100 AT THE START0100135Jun 22Dec 22Jun 23Dec 23Jun 24Dec 24Jun 25Dec 25Jun 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reportingSep 2022 · trailing 12-month earnings per share at 102, against 100 at the start · no comparable year yet · 3 reportingDec 2022 · trailing 12-month earnings per share at 104, against 100 at the start · no comparable year yet · 3 reportingMar 2023 · trailing 12-month earnings per share at 94, against 100 at the start · up 14.2% on a year ago · 3 reportingJun 2023 · trailing 12-month earnings per share at 97, against 100 at the start · down 2.9% on a year ago · 3 reportingSep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 5.9% on a year ago · 5 reportingDec 2023 · trailing 12-month earnings per share at 104, against 100 at the start · up 15.0% on a year ago · 5 reportingMar 2024 · trailing 12-month earnings per share at 90, against 100 at the start · up 10.0% on a year ago · 5 reportingJun 2024 · trailing 12-month earnings per share at 92, against 100 at the start · up 10.4% on a year ago · 5 reportingSep 2024 · trailing 12-month earnings per share at 91, against 100 at the start · down 3.3% on a year ago · 5 reportingDec 2024 · trailing 12-month earnings per share at 95, against 100 at the start · up 10.7% on a year ago · 5 reportingMar 2025 · trailing 12-month earnings per share at 107, against 100 at the start · up 22.6% on a year ago · 5 reportingJun 2025 · trailing 12-month earnings per share at 111, against 100 at the start · up 19.3% on a year ago · 6 reportingSep 2025 · trailing 12-month earnings per share at 112, against 100 at the start · up 17.6% on a year ago · 7 reportingDec 2025 · trailing 12-month earnings per share at 117, against 100 at the start · up 15.5% on a year ago · 7 reportingMar 2026 · trailing 12-month earnings per share at 131, against 100 at the start · up 12.1% on a year ago · 7 reportingJun 2026 · trailing 12-month earnings per share at 135, against 100 at the start · up 5.5% on a year ago · 3 reportingNot reported yet — earnings trail price by a quarter or two135No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
200300202620252024202320222021 272336 TRAILING 12-MONTH EPS · 100 AT THE START0100135Jun 22Jun 23Jun 24Jun 25Jun 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reportingSep 2022 · trailing 12-month earnings per share at 102, against 100 at the start · no comparable year yet · 3 reportingDec 2022 · trailing 12-month earnings per share at 104, against 100 at the start · no comparable year yet · 3 reportingMar 2023 · trailing 12-month earnings per share at 94, against 100 at the start · up 14.2% on a year ago · 3 reportingJun 2023 · trailing 12-month earnings per share at 97, against 100 at the start · down 2.9% on a year ago · 3 reportingSep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 5.9% on a year ago · 5 reportingDec 2023 · trailing 12-month earnings per share at 104, against 100 at the start · up 15.0% on a year ago · 5 reportingMar 2024 · trailing 12-month earnings per share at 90, against 100 at the start · up 10.0% on a year ago · 5 reportingJun 2024 · trailing 12-month earnings per share at 92, against 100 at the start · up 10.4% on a year ago · 5 reportingSep 2024 · trailing 12-month earnings per share at 91, against 100 at the start · down 3.3% on a year ago · 5 reportingDec 2024 · trailing 12-month earnings per share at 95, against 100 at the start · up 10.7% on a year ago · 5 reportingMar 2025 · trailing 12-month earnings per share at 107, against 100 at the start · up 22.6% on a year ago · 5 reportingJun 2025 · trailing 12-month earnings per share at 111, against 100 at the start · up 19.3% on a year ago · 6 reportingSep 2025 · trailing 12-month earnings per share at 112, against 100 at the start · up 17.6% on a year ago · 7 reportingDec 2025 · trailing 12-month earnings per share at 117, against 100 at the start · up 15.5% on a year ago · 7 reportingMar 2026 · trailing 12-month earnings per share at 131, against 100 at the start · up 12.1% on a year ago · 7 reportingJun 2026 · trailing 12-month earnings per share at 135, against 100 at the start · up 5.5% on a year ago · 3 reportingNot reported yet — earnings trail price by a quarter or twoNo earnings on file this far back — the price series reaches further than the filings do
Finance - Insurance, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling
Strength anatomy NarrowHow much of the sector is participating, how recently, and whether the movers score well.
Together2 of 8 stocks moving
Fresh0 crossed in the last 4 weeks
Backed by scoresmovers score +1 vs the sector average
Down the cap ladder — bar is now, tick is four weeks ago
Large 0/20
Mid 0/30
Small 2/30

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 8 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Finance - Insurance outperforming NIFTY 500?

The 52-week comparison of Finance - Insurance against NIFTY 500 is not available from the current market series. 3 of 7 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Niva Bupa Health Insurance Company Ltd is the strongest against the sector itself at +18.6%. Readings are as of 2026-07-19.

—Sector vs NIFTY 500 · 13 weeks
—Sector vs NIFTY 500 · 52 weeks
3/7Stocks leading NIFTY 500
2/7Stocks leading sector

Sector metric: 9.0 as of 2026-07-19 · CONSOLIDATION · falling.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

The 52-week sector comparison is unavailable. 3 of 7 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Life Insurance Corporation of India leads with income of ₹9,78,893 crore, based on 8 of 8 comparable companies through Mar 2026.

Is the Finance - Insurance sector outperforming NIFTY 500?

The 52-week sector comparison is unavailable. 3 of 7 covered companies currently have positive Mansfield relative strength versus NIFTY 500.

Which Finance - Insurance company is largest by income?

Life Insurance Corporation of India leads with income of ₹9,78,893 crore, based on 8 of 8 comparable companies through Mar 2026.

Which Finance - Insurance company is growing fastest?

Niva Bupa Health Insurance Company Ltd has the fastest current income growth at 24.6%, across 8 of 8 comparable companies.

Which Finance - Insurance company has the strongest 4-Factor Sector Score?

Life Insurance Corporation of India ranks first at 67/100 with 72.9% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Finance - Insurance company has the lowest comparable P/BV-to-ROE?

Life Insurance Corporation of India has the lowest comparable P/BV ÷ ROE at 0.08, among 8 of 8 companies that pass the metric’s comparability rules.

How much history does this Finance - Insurance comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies
8
complete canonical membership
Combined market value
₹9.7 L Cr
Life Insurance Corporation of India
Revenue growing
6/8
positive TTM year-on-year growth
Beating NIFTY 500
3/7
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Life Insurance Corporation of India has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 72.9% evidence confidence.
Niva Bupa Health Insurance Company Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded.

1. Life Insurance Corporation of India · LICI

67.0/100 · Favorable setup · 73% evidence

Exact sum: 21.5 + 16.6 + 19.7 + 9.2 = 67

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

21.5/35Growth & earnings

Income 10% · PAT 18.9%

45% evidence

16.6/25Capital efficiency

ROA 0.7% · ROE 37.8% · GNPA —

68% evidence

19.7/20Valuation

P/BV 3.01× · P/BV÷ROE 0.08

100% evidence

9.2/20Relative strength

RS sector -35.2% · RS bench 0.7% · 1Y -53.1%

100% evidence

2. Niva Bupa Health Insurance Company Ltd · NIVABUPA

54.0/100 · Mixed-positive evidence · 67% evidence

Exact sum: 17.1 + 13.1 + 3.8 + 20 = 54

Decision use: Price leads the evidence: RS versus the benchmark is 7.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

17.1/35Growth & earnings

Income 24.6% · PAT -38.5%

45% evidence

13.1/25Capital efficiency

ROA 3% · ROE 3.5% · GNPA —

68% evidence

3.8/20Valuation

P/BV 4.22× · P/BV÷ROE 1.22

70% evidence

20.0/20Relative strength

RS sector 18.6% · RS bench 7.9% · 1Y -3.6%

100% evidence

3. Go Digit General Insurance Ltd · GODIGIT

46.8/100 · Mixed-negative evidence · 82% evidence

Exact sum: 18.7 + 16.3 + 8.3 + 3.5 = 46.8

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.7/35Growth & earnings

Income 7.3% · PAT 6.5%

86% evidence

16.3/25Capital efficiency

ROA 2.2% · ROE 12.2% · GNPA —

72% evidence

8.3/20Valuation

P/BV 4.85× · P/BV÷ROE 0.4

70% evidence

3.5/20Relative strength

RS sector -7.9% · RS bench -16.6% · 1Y -19.8%

100% evidence

4. ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

45.7/100 · Mixed-negative evidence · 78% evidence

Exact sum: 18.4 + 11 + 10.3 + 6 = 45.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.4/35Growth & earnings

Income -10.5% · PAT 35.7%

75% evidence

11.0/25Capital efficiency

ROA 0.3% · ROE 12.6% · GNPA —

72% evidence

10.3/20Valuation

P/BV 5.33× · P/BV÷ROE 0.42

100% evidence

6.0/20Relative strength

RS sector -9% · RS bench -16.2% · 1Y -21.6%

70% evidence

5. Religare Enterprises Ltd · RELIGARE

40.4/100 · Mixed-negative evidence · 61% evidence

Exact sum: 15.2 + 7.8 + 5.2 + 12.2 = 40.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

15.2/35Growth & earnings

Income 14.8% · PAT -60.3%

45% evidence

7.8/25Capital efficiency

ROA 0.6% · ROE 3.2% · GNPA —

68% evidence

5.2/20Valuation

P/BV 2.95× · P/BV÷ROE 0.93

70% evidence

12.2/20Relative strength

RS sector -2.1% · RS bench 4.6% · 1Y -4.7%

70% evidence

6. SBI Life Insurance Company Ltd · SBILIFE

39.5/100 · Mixed-negative evidence · 76% evidence

Exact sum: 10.1 + 11.8 + 5.1 + 12.5 = 39.5

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

10.1/35Growth & earnings

Income -1.3% · PAT 4.6%

86% evidence

11.8/25Capital efficiency

ROA 0.3% · ROE 13.7% · GNPA —

72% evidence

5.1/20Valuation

P/BV 9.25× · P/BV÷ROE 0.68

70% evidence

12.5/20Relative strength

RS sector 4.4% · RS bench -4.7% · 1Y 2.3%

70% evidence

7. HDFC Life Insurance Company Ltd · HDFCLIFE

34.9/100 · Adverse evidence · 76% evidence

Exact sum: 13.9 + 10.7 + 6.3 + 4 = 34.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

13.9/35Growth & earnings

Income 4.3% · PAT 5.1%

86% evidence

10.7/25Capital efficiency

ROA 0.5% · ROE 11.3% · GNPA —

72% evidence

6.3/20Valuation

P/BV 6.17× · P/BV÷ROE 0.55

70% evidence

4.0/20Relative strength

RS sector -12.5% · RS bench -19.4% · 1Y -23.8%

70% evidence

8. Canara HSBC Life Insurance Company Ltd · CANHLIFE

40.0/100 · Thin evidence · provisional · 49% evidence

Exact sum: 18.8 + 7.2 + 4 + 10 = 40

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

18.8/35Growth & earnings

Income 9.1% · PAT 9.1%

52% evidence

7.2/25Capital efficiency

ROA 0.2% · ROE 8.1% · GNPA —

68% evidence

4.0/20Valuation

P/BV 8.55× · P/BV÷ROE 1.05

70% evidence

10.0/20Relative strength

RS sector — · RS bench — · 1Y —

0% evidence

01 · compare level, then change

Income Scale & Growth Durability

Life Insurance Corporation of India has the highest Income among the 8 Finance - Insurance companies compared here, at ₹9,78,893 crore. SBI Life Insurance Company Ltd is next at ₹1,19,656 crore. Niva Bupa Health Insurance Company Ltd has the highest Income growth at 24.6%, so level and change sit with different companies.

What the numbers say: Life Insurance Corporation of India is the scale leader at ₹9,78,893 crore, 718.1% ahead of SBI Life Insurance Company Ltd. Niva Bupa Health Insurance Company Ltd's growth is 24.6% from a ₹6,695 crore base, with 11 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderLife Insurance Corporation of India · ₹9,78,893 crore
Gap718.1% versus #2 · SBI Life Insurance Company Ltd
Persistence7/8 recent comparable periods
Coverage8/8 companies · 105 observations

Investor read: Life Insurance Corporation of India is the scale benchmark; Niva Bupa Health Insurance Company Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Life Insurance Corporation of India's growth falls below Niva Bupa Health Insurance Company Ltd's for two consecutive comparable reports while operating margin also compresses.

For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.
Incomelargest
1Life Insurance Corporation of India LICI₹9.8 L Cr
2SBI Life Insurance Company Ltd SBILIFE₹1.2 L Cr
3HDFC Life Insurance Company Ltd HDFCLIFE₹1.0 L Cr
4ICICI Prudential Life Insurance Company Ltd ICICIPRULI₹63.4K Cr
5Canara HSBC Life Insurance Company Ltd CANHLIFE₹12.3K Cr
Income growthfastest growers
1Niva Bupa Health Insurance Company Ltd NIVABUPA25%
2Religare Enterprises Ltd RELIGARE15%
3Life Insurance Corporation of India LICI10.0%
4Canara HSBC Life Insurance Company Ltd CANHLIFE9.1%
5Go Digit General Insurance Ltd GODIGIT7.3%
Income · company comparison
8/8 level · 8/8 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyIncomeIncome growthReported
Life Insurance Corporation of India LICI₹2.8 L Cr14%Mar 2026
SBI Life Insurance Company Ltd SBILIFE₹46.3K Cr19%Jun 2026
HDFC Life Insurance Company Ltd HDFCLIFE₹33.8K Cr15%Jun 2026
Canara HSBC Life Insurance Company Ltd CANHLIFE₹4.4K Cr20%Jun 2026
ICICI Prudential Life Insurance Company Ltd ICICIPRULI₹3.2K Cr-80%Jun 2026
Religare Enterprises Ltd RELIGARE₹2.5K Cr21%Mar 2026
Go Digit General Insurance Ltd GODIGIT₹2.4K Cr8.5%Jun 2026
Niva Bupa Health Insurance Company Ltd NIVABUPA₹2.1K Cr28%Mar 2026
Full 20-quarter history · every available company

Income · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

—
—
—
—
—
—
—
—
—
—
—
—
₹3.3K Cr
₹1.5K Cr
₹2.8K Cr
₹3.6K Cr
₹2.3K Cr
₹4.2K Cr
₹1.4K Cr
₹4.4K Cr

Go Digit General Insurance Ltd · GODIGIT

—
—
—
—
—
—
₹1.6K Cr
₹1.7K Cr
₹1.9K Cr
₹2.3K Cr
₹2.3K Cr
₹2.1K Cr
₹2.2K Cr
₹2.4K Cr
₹2.6K Cr
₹2.2K Cr
₹2.5K Cr
₹2.6K Cr
₹2.7K Cr
₹2.4K Cr

HDFC Life Insurance Company Ltd · HDFCLIFE

—
—
—
—
—
₹19.6K Cr
₹20.9K Cr
₹23.4K Cr
₹23.1K Cr
₹26.9K Cr
₹28.0K Cr
₹26.9K Cr
₹28.5K Cr
₹17.3K Cr
₹24.2K Cr
₹29.5K Cr
₹20.7K Cr
₹29.4K Cr
₹19.9K Cr
₹33.8K Cr

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

—
—
—
—
—
₹17.4K Cr
₹11.0K Cr
₹23.4K Cr
₹17.4K Cr
₹26.4K Cr
₹22.5K Cr
₹25.4K Cr
₹25.2K Cr
₹4.5K Cr
₹15.7K Cr
₹25.4K Cr
₹11.9K Cr
₹22.8K Cr
₹3.2K Cr
—

Life Insurance Corporation of India · LICI

—
—
—
—
—
₹2.0 L Cr
₹2.0 L Cr
₹1.9 L Cr
₹2.0 L Cr
₹2.1 L Cr
₹2.4 L Cr
₹2.1 L Cr
₹2.3 L Cr
₹2.0 L Cr
₹2.4 L Cr
₹2.2 L Cr
₹2.4 L Cr
₹2.4 L Cr
₹2.8 L Cr
—

Niva Bupa Health Insurance Company Ltd · NIVABUPA

—
—
—
—
—
—
—
—
₹969 Cr
₹1.0K Cr
₹1.3K Cr
₹1.1K Cr
₹1.3K Cr
₹1.3K Cr
₹1.7K Cr
₹1.4K Cr
₹1.6K Cr
₹1.6K Cr
₹2.1K Cr
—

Religare Enterprises Ltd · RELIGARE

—
—
—
—
—
₹1.2K Cr
₹1.4K Cr
₹1.3K Cr
₹1.6K Cr
₹1.5K Cr
₹1.9K Cr
₹1.7K Cr
₹2.0K Cr
₹1.7K Cr
₹2.0K Cr
₹1.9K Cr
₹2.1K Cr
₹2.1K Cr
₹2.5K Cr
—

SBI Life Insurance Company Ltd · SBILIFE

—
—
—
—
—
₹26.8K Cr
₹21.3K Cr
₹27.9K Cr
₹28.8K Cr
₹39.0K Cr
₹36.3K Cr
₹34.7K Cr
₹40.3K Cr
₹18.9K Cr
₹23.1K Cr
₹39.0K Cr
₹23.1K Cr
₹46.1K Cr
₹4.1K Cr
₹46.3K Cr

Income growth · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
-29%
177%
-51%
20%

Go Digit General Insurance Ltd · GODIGIT

—
—
—
—
—
—
—
—
—
—
41%
24%
17%
6.6%
15%
6.2%
11%
5.5%
4.5%
8.5%

HDFC Life Insurance Company Ltd · HDFCLIFE

—
—
—
—
—
—
—
—
—
38%
34%
15%
23%
-36%
-14%
9.4%
-28%
70%
-18%
15%

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

—
—
—
—
—
—
—
—
—
52%
105%
8.6%
45%
-83%
-30%
0.0%
-53%
403%
-80%
—

Life Insurance Corporation of India · LICI

—
—
—
—
—
—
—
—
—
8.3%
19%
11%
14%
-4.8%
1.9%
6.0%
4.5%
16%
14%
—

Niva Bupa Health Insurance Company Ltd · NIVABUPA

—
—
—
—
—
—
—
—
—
—
—
—
36%
23%
27%
22%
19%
28%
28%
—

Religare Enterprises Ltd · RELIGARE

—
—
—
—
—
—
—
—
—
30%
33%
33%
23%
10%
10%
8.8%
6.4%
23%
21%
—

SBI Life Insurance Company Ltd · SBILIFE

—
—
—
—
—
—
—
—
—
46%
70%
24%
40%
-52%
-36%
13%
-43%
145%
-82%
19%
02 · compare level, then change

Profit Scale & Acceleration

Life Insurance Corporation of India has the highest Net profit among the 8 Finance - Insurance companies compared here, at ₹57,426 crore. SBI Life Insurance Company Ltd is next at ₹2,602 crore. ICICI Prudential Life Insurance Company Ltd has the highest Profit growth at 35.7%, so level and change sit with different companies.

What the numbers say: Life Insurance Corporation of India leads with ₹57,426 crore of TTM profit, 22.1× the profit of SBI Life Insurance Company Ltd. ICICI Prudential Life Insurance Company Ltd shows 35.7% growth from a ₹1,608 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderLife Insurance Corporation of India · ₹57,426 crore
Gap22.1× versus #2 · SBI Life Insurance Company Ltd
Persistence7/8 recent comparable periods
Coverage8/8 companies · 125 observations

Investor read: Life Insurance Corporation of India sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.
Net profitlargest
1Life Insurance Corporation of India LICI₹57.4K Cr
2SBI Life Insurance Company Ltd SBILIFE₹2.6K Cr
3HDFC Life Insurance Company Ltd HDFCLIFE₹2.0K Cr
4ICICI Prudential Life Insurance Company Ltd ICICIPRULI₹1.6K Cr
5Go Digit General Insurance Ltd GODIGIT₹492 Cr
Profit growthfastest growers
1ICICI Prudential Life Insurance Company Ltd ICICIPRULI36%
2Life Insurance Corporation of India LICI19%
3Canara HSBC Life Insurance Company Ltd CANHLIFE9.1%
4Go Digit General Insurance Ltd GODIGIT6.5%
5HDFC Life Insurance Company Ltd HDFCLIFE5.1%
Net profit · company comparison
8/8 level · 8/8 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyNet profitProfit growthReported
Life Insurance Corporation of India LICI₹23.5K Cr23%Mar 2026
SBI Life Insurance Company Ltd SBILIFE₹725 Cr22%Jun 2026
HDFC Life Insurance Company Ltd HDFCLIFE₹611 Cr12%Jun 2026
ICICI Prudential Life Insurance Company Ltd ICICIPRULI₹386 Cr28%Jun 2026
Niva Bupa Health Insurance Company Ltd NIVABUPA₹345 Cr67%Mar 2026
Religare Enterprises Ltd RELIGARE₹96 Cr-36%Mar 2026
Go Digit General Insurance Ltd GODIGIT₹86 Cr-38%Jun 2026
Canara HSBC Life Insurance Company Ltd CANHLIFE₹28 Cr22%Jun 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

—
—
—
—
—
—
—
—
—
—
—
—
₹37 Cr
₹29 Cr
₹32 Cr
₹23 Cr
₹41 Cr
₹28 Cr
₹35 Cr
₹28 Cr

Go Digit General Insurance Ltd · GODIGIT

₹-77 Cr
₹-145 Cr
₹-100 Cr
₹14 Cr
—
—
₹26 Cr
₹58 Cr
₹28 Cr
₹43 Cr
₹53 Cr
₹101 Cr
₹89 Cr
₹119 Cr
₹116 Cr
₹138 Cr
₹117 Cr
₹140 Cr
₹149 Cr
₹86 Cr

HDFC Life Insurance Company Ltd · HDFCLIFE

₹274 Cr
₹274 Cr
₹477 Cr
₹365 Cr
₹316 Cr
₹316 Cr
₹362 Cr
₹417 Cr
₹378 Cr
₹368 Cr
₹412 Cr
₹479 Cr
₹435 Cr
₹421 Cr
₹475 Cr
₹548 Cr
₹448 Cr
₹418 Cr
₹497 Cr
₹611 Cr

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

₹446 Cr
₹312 Cr
₹187 Cr
₹157 Cr
₹200 Cr
₹222 Cr
₹235 Cr
₹206 Cr
₹244 Cr
₹227 Cr
₹174 Cr
₹224 Cr
₹251 Cr
₹325 Cr
₹385 Cr
₹301 Cr
₹296 Cr
₹387 Cr
₹624 Cr
₹386 Cr

Life Insurance Corporation of India · LICI

—
—
—
—
—
₹7.3K Cr
₹13.2K Cr
₹9.6K Cr
₹8.0K Cr
₹9.4K Cr
₹13.8K Cr
₹10.5K Cr
₹7.7K Cr
₹11.0K Cr
₹19.0K Cr
₹11.0K Cr
₹10.1K Cr
₹12.9K Cr
₹23.5K Cr
—

Niva Bupa Health Insurance Company Ltd · NIVABUPA

—
—
—
—
—
—
—
—
₹-8 Cr
₹5 Cr
₹157 Cr
₹-19 Cr
₹13 Cr
₹13 Cr
₹206 Cr
₹-91 Cr
₹-35 Cr
₹-88 Cr
₹345 Cr
—

Religare Enterprises Ltd · RELIGARE

—
—
—
—
—
₹-96 Cr
₹3.5K Cr
₹93 Cr
₹40 Cr
₹34 Cr
₹181 Cr
₹27 Cr
₹69 Cr
₹-63 Cr
₹151 Cr
₹8 Cr
₹46 Cr
₹-77 Cr
₹96 Cr
—

SBI Life Insurance Company Ltd · SBILIFE

₹247 Cr
₹364 Cr
₹672 Cr
₹263 Cr
₹377 Cr
₹304 Cr
₹777 Cr
₹381 Cr
₹380 Cr
₹322 Cr
₹811 Cr
₹520 Cr
₹529 Cr
₹551 Cr
₹814 Cr
₹594 Cr
₹495 Cr
₹577 Cr
₹805 Cr
₹725 Cr

Profit growth · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
11%
-3.5%
9.4%
22%

Go Digit General Insurance Ltd · GODIGIT

—
—
—
-44%
—
—
—
314%
—
—
104%
74%
218%
177%
119%
37%
31%
18%
28%
-38%

HDFC Life Insurance Company Ltd · HDFCLIFE

—
—
—
—
15%
15%
-24%
14%
20%
16%
14%
15%
15%
14%
15%
14%
3.0%
-0.7%
4.6%
12%

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

—
—
—
—
-55%
-29%
26%
31%
22%
2.3%
-26%
8.7%
2.9%
43%
121%
34%
18%
19%
62%
28%

Life Insurance Corporation of India · LICI

—
—
—
—
—
—
—
—
—
29%
5.0%
9.3%
-3.9%
17%
38%
4.1%
31%
17%
23%
—

Niva Bupa Health Insurance Company Ltd · NIVABUPA

—
—
—
—
—
—
—
—
—
—
—
—
—
160%
31%
—
-369%
-777%
67%
—

Religare Enterprises Ltd · RELIGARE

—
—
—
—
—
—
—
—
—
—
-95%
-71%
73%
-285%
-17%
-70%
-33%
—
-36%
—

SBI Life Insurance Company Ltd · SBILIFE

—
—
—
18%
53%
-16%
16%
45%
0.8%
5.9%
4.4%
36%
39%
71%
0.4%
14%
-6.4%
4.7%
-1.1%
22%
03 · compare level, then change

Funding Base & Its Composition

No company in this Finance - Insurance comparison has a funding base figure that passes this section's guard, so the Deposits rank is empty. On Borrowings, HDFC Life Insurance Company Ltd is highest at ₹3,099 crore, across 8 of 8 companies with a usable reading.

What the numbers say: There is not enough comparable evidence to name a reliable deposits leader.

LeaderNo comparable leader
GapNot enough peers
PersistenceNot enough history
Coverage0/8 companies · 0 observations

Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.
Depositslargest deposit bases
—Not enough comparable data—
Borrowingslargest borrowings
1HDFC Life Insurance Company Ltd HDFCLIFE₹3.1K Cr
2ICICI Prudential Life Insurance Company Ltd ICICIPRULI₹2.6K Cr
3Religare Enterprises Ltd RELIGARE₹493 Cr
4Go Digit General Insurance Ltd GODIGIT₹350 Cr
5Canara HSBC Life Insurance Company Ltd CANHLIFE₹250 Cr
Funding base · company comparison
0/8 level · 8/8 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyDepositsBorrowingsReported
Life Insurance Corporation of India LICI—₹0 CrMar 2026
SBI Life Insurance Company Ltd SBILIFE—₹0 CrJun 2026
HDFC Life Insurance Company Ltd HDFCLIFE—₹3.1K CrJun 2026
ICICI Prudential Life Insurance Company Ltd ICICIPRULI—₹2.6K CrJun 2026
Go Digit General Insurance Ltd GODIGIT—₹350 CrJun 2026
Niva Bupa Health Insurance Company Ltd NIVABUPA—₹250 CrMar 2026
Canara HSBC Life Insurance Company Ltd CANHLIFE—₹250 CrJun 2026
Religare Enterprises Ltd RELIGARE—₹493 CrMar 2026
Full 20-quarter history · every available company

No consistent historical series is available for deposits.

Borrowings · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

—
—
₹0 Cr
—
—
—
₹0 Cr
—
—
—
₹0 Cr
—
—
—
₹0 Cr
—
₹0 Cr
—
₹250 Cr
—

Go Digit General Insurance Ltd · GODIGIT

—
—
₹0 Cr
—
—
—
₹0 Cr
—
—
₹200 Cr
₹350 Cr
₹350 Cr
₹350 Cr
₹350 Cr
₹350 Cr
₹350 Cr
₹350 Cr
₹350 Cr
₹350 Cr
—

HDFC Life Insurance Company Ltd · HDFCLIFE

₹600 Cr
₹600 Cr
₹600 Cr
₹950 Cr
₹950 Cr
₹950 Cr
₹950 Cr
₹950 Cr
₹950 Cr
₹950 Cr
₹950 Cr
₹950 Cr
₹950 Cr
₹2.0K Cr
₹3.0K Cr
₹3.0K Cr
₹2.4K Cr
₹3.1K Cr
₹3.1K Cr
₹3.1K Cr

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹1.2K Cr
₹2.6K Cr
₹2.6K Cr
₹2.6K Cr
₹2.6K Cr
₹2.6K Cr
₹2.6K Cr
₹2.6K Cr

Life Insurance Corporation of India · LICI

—
—
₹1 Cr
—
—
—
₹0 Cr
—
—
—
₹0 Cr
—
—
—
₹0 Cr
—
₹1 Cr
—
₹0 Cr
—

Niva Bupa Health Insurance Company Ltd · NIVABUPA

—
—
₹250 Cr
—
—
—
₹250 Cr
—
—
—
₹250 Cr
—
—
—
₹250 Cr
—
₹250 Cr
—
₹250 Cr
—

Religare Enterprises Ltd · RELIGARE

—
—
₹4.9K Cr
—
—
—
₹841 Cr
—
—
—
₹443 Cr
—
—
—
₹233 Cr
—
₹319 Cr
—
₹493 Cr
—

SBI Life Insurance Company Ltd · SBILIFE

—
—
₹0 Cr
—
—
—
₹0 Cr
—
—
—
₹0 Cr
—
—
—
₹0 Cr
—
₹0 Cr
—
₹0 Cr
—
04 · compare level, then change

Return On Assets

Niva Bupa Health Insurance Company Ltd has the highest ROA among the 8 Finance - Insurance companies compared here, at 3%. Go Digit General Insurance Ltd is next at 2.2%. Go Digit General Insurance Ltd has the highest ROA change at +0.2 percentage points, so level and change sit with different companies.

What the numbers say: Niva Bupa Health Insurance Company Ltd leads roa at 3%; Go Digit General Insurance Ltd leads roa change at +0.2 percentage points.

LeaderNiva Bupa Health Insurance Company Ltd · 3%
Gap36.4% versus #2 · Go Digit General Insurance Ltd
PersistenceNot enough history
Coverage8/8 companies · 68 observations

Investor read: Niva Bupa Health Insurance Company Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.
ROAhighest
1Niva Bupa Health Insurance Company Ltd NIVABUPA3.0%
2Go Digit General Insurance Ltd GODIGIT2.2%
3Life Insurance Corporation of India LICI0.7%
4Religare Enterprises Ltd RELIGARE0.6%
5HDFC Life Insurance Company Ltd HDFCLIFE0.5%
ROA changefastest improvers
1Go Digit General Insurance Ltd GODIGIT+0.2 pp
2HDFC Life Insurance Company Ltd HDFCLIFE+0.1 pp
3SBI Life Insurance Company Ltd SBILIFE0.0 pp
4ICICI Prudential Life Insurance Company Ltd ICICIPRULI−0.2 pp
Return on assets · company comparison
8/8 level · 4/8 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

Withheld from this chart: Life Insurance Corporation of India (LICI) — its two data sources disagree by up to 120% on reported income across 14 comparable periods, so its derived ratios are withheld; Niva Bupa Health Insurance Company Ltd (NIVABUPA) — its two data sources disagree by up to 860% on reported income across 11 comparable periods, so its derived ratios are withheld; Canara HSBC Life Insurance Company Ltd (CANHLIFE) — its two data sources disagree by up to 195% on reported income across 7 comparable periods, so its derived ratios are withheld; Religare Enterprises Ltd (RELIGARE) — its two data sources disagree by up to 41% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyROAROA changeReported
Go Digit General Insurance Ltd GODIGIT2.2%+0.2 ppJun 2026
HDFC Life Insurance Company Ltd HDFCLIFE0.5%+0.1 ppJun 2026
SBI Life Insurance Company Ltd SBILIFE0.3%0.0 ppJun 2026
ICICI Prudential Life Insurance Company Ltd ICICIPRULI0.3%−0.2 ppJun 2026
Full 20-quarter history · every available company

ROA · reported quarter history

Go Digit General Insurance Ltd · GODIGIT

1.0%
-2.5%
-3.9%
-2.3%
—
—
—
—
1.0%
0.9%
1.0%
1.0%
1.4%
—
2.0%
—
2.1%
—
2.2%
—

HDFC Life Insurance Company Ltd · HDFCLIFE

—
0.4%
0.4%
0.7%
0.5%
0.4%
0.5%
—
0.5%
0.5%
0.3%
0.4%
0.3%
0.0%
0.3%
0.4%
0.5%
0.4%
0.3%
0.5%

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

—
0.6%
0.4%
0.3%
0.2%
0.3%
0.3%
0.4%
0.2%
0.3%
0.3%
0.2%
0.2%
0.3%
0.3%
0.5%
0.3%
0.3%
0.4%
0.3%

SBI Life Insurance Company Ltd · SBILIFE

0.3%
0.3%
0.4%
0.7%
0.3%
0.4%
0.3%
0.7%
0.3%
0.3%
0.3%
0.6%
0.4%
0.3%
0.3%
0.5%
0.3%
0.3%
0.3%
—

ROA change · reported quarter history

Go Digit General Insurance Ltd · GODIGIT

—
—
—
—
—
—
—
—
—
—
—
—
+0.4 pp
—
+1.0 pp
—
+0.7 pp
—
+0.2 pp
—

HDFC Life Insurance Company Ltd · HDFCLIFE

—
—
—
—
—
0.0 pp
+0.1 pp
—
0.0 pp
+0.1 pp
−0.2 pp
—
−0.2 pp
−0.5 pp
0.0 pp
0.0 pp
+0.2 pp
+0.4 pp
0.0 pp
+0.1 pp

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

—
—
—
—
—
−0.3 pp
−0.1 pp
+0.1 pp
0.0 pp
0.0 pp
0.0 pp
−0.2 pp
0.0 pp
0.0 pp
0.0 pp
+0.3 pp
+0.1 pp
0.0 pp
+0.1 pp
−0.2 pp

SBI Life Insurance Company Ltd · SBILIFE

—
—
—
—
0.0 pp
+0.1 pp
−0.1 pp
0.0 pp
0.0 pp
−0.1 pp
0.0 pp
−0.1 pp
+0.1 pp
0.0 pp
0.0 pp
−0.1 pp
−0.1 pp
0.0 pp
0.0 pp
—
05 · compare level, then change

ROE — Leaders & Improvers

Life Insurance Corporation of India has the highest ROE among the 8 Finance - Insurance companies compared here, at 37.8%. SBI Life Insurance Company Ltd is next at 13.7%. ICICI Prudential Life Insurance Company Ltd has the highest ROE change at +5.3 percentage points, so level and change sit with different companies.

What the numbers say: Life Insurance Corporation of India leads roe at 37.8%; ICICI Prudential Life Insurance Company Ltd leads roe change at +5.3 percentage points.

LeaderLife Insurance Corporation of India · 37.8%
Gap175.9% versus #2 · SBI Life Insurance Company Ltd
PersistenceNot enough history
Coverage8/8 companies · 73 observations

Investor read: Life Insurance Corporation of India sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

ROE shows the return to shareholders, but should be read with asset quality and leverage.
ROEhighest
1Life Insurance Corporation of India LICI38%
2SBI Life Insurance Company Ltd SBILIFE14%
3ICICI Prudential Life Insurance Company Ltd ICICIPRULI13%
4Go Digit General Insurance Ltd GODIGIT12%
5HDFC Life Insurance Company Ltd HDFCLIFE11%
ROE changefastest improvers
1ICICI Prudential Life Insurance Company Ltd ICICIPRULI+5.3 pp
2Go Digit General Insurance Ltd GODIGIT+1.7 pp
3HDFC Life Insurance Company Ltd HDFCLIFE−0.6 pp
4SBI Life Insurance Company Ltd SBILIFE−1.0 pp
Return on equity · company comparison
8/8 level · 4/8 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

Withheld from this chart: Life Insurance Corporation of India (LICI) — its two data sources disagree by up to 120% on reported income across 14 comparable periods, so its derived ratios are withheld; Niva Bupa Health Insurance Company Ltd (NIVABUPA) — its two data sources disagree by up to 860% on reported income across 11 comparable periods, so its derived ratios are withheld; Canara HSBC Life Insurance Company Ltd (CANHLIFE) — its two data sources disagree by up to 195% on reported income across 7 comparable periods, so its derived ratios are withheld; Religare Enterprises Ltd (RELIGARE) — its two data sources disagree by up to 41% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyROEROE changeReported
ICICI Prudential Life Insurance Company Ltd ICICIPRULI18%+5.3 ppJun 2026
SBI Life Insurance Company Ltd SBILIFE12%−1.0 ppJun 2026
Go Digit General Insurance Ltd GODIGIT12%+1.7 ppJun 2026
HDFC Life Insurance Company Ltd HDFCLIFE11%−0.6 ppJun 2026
Full 20-quarter history · every available company

ROE · reported quarter history

Go Digit General Insurance Ltd · GODIGIT

5.4%
-16%
-27%
-15%
—
—
1.9%
—
6.9%
4.5%
5.3%
6.1%
12%
8.8%
10%
10%
12%
10%
12%
—

HDFC Life Insurance Company Ltd · HDFCLIFE

—
12%
12%
15%
9.4%
7.6%
7.1%
9.4%
13%
11%
11%
11%
13%
11%
11%
12%
13%
11%
9.7%
11%

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

—
21%
14%
8.2%
6.9%
8.6%
9.0%
9.3%
8.0%
9.2%
8.3%
6.3%
8.1%
8.8%
11%
13%
9.8%
9.4%
12%
18%

SBI Life Insurance Company Ltd · SBILIFE

8.5%
9.2%
13%
24%
9.0%
13%
9.8%
24%
12%
11%
9.1%
22%
14%
13%
13%
19%
14%
11%
12%
—

ROE change · reported quarter history

Go Digit General Insurance Ltd · GODIGIT

—
—
—
—
—
—
+28.8 pp
—
—
—
+3.4 pp
—
+4.9 pp
+4.3 pp
+4.9 pp
+3.9 pp
+0.2 pp
+1.2 pp
+1.7 pp
—

HDFC Life Insurance Company Ltd · HDFCLIFE

—
—
—
—
—
−4.7 pp
−5.0 pp
−6.0 pp
+3.4 pp
+3.7 pp
+3.5 pp
+2.0 pp
−0.1 pp
−0.1 pp
+0.1 pp
+0.5 pp
+0.5 pp
−0.7 pp
−1.0 pp
−0.6 pp

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

—
—
—
—
—
−12.1 pp
−5.0 pp
+1.1 pp
+1.1 pp
+0.6 pp
−0.7 pp
−3.0 pp
+0.1 pp
−0.4 pp
+2.9 pp
+6.8 pp
+1.7 pp
+0.6 pp
+0.6 pp
+5.3 pp

SBI Life Insurance Company Ltd · SBILIFE

—
—
—
—
+0.5 pp
+3.4 pp
−3.4 pp
+0.7 pp
+2.5 pp
−1.5 pp
−0.7 pp
−2.2 pp
+2.1 pp
+2.2 pp
+4.3 pp
−2.7 pp
+0.1 pp
−2.4 pp
−1.0 pp
—
06 · not available

Gross NPA — Leaders & Improvers

No company in this Finance - Insurance comparison reports gross NPA on a comparable basis, so there is nothing to rank here — 0 of 8 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Jun 2026.

Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.

Withheld from this comparison: Life Insurance Corporation of India (LICI) — its two data sources disagree by up to 120% on reported income across 14 comparable periods, so its derived ratios are withheld; Niva Bupa Health Insurance Company Ltd (NIVABUPA) — its two data sources disagree by up to 860% on reported income across 11 comparable periods, so its derived ratios are withheld; Canara HSBC Life Insurance Company Ltd (CANHLIFE) — its two data sources disagree by up to 195% on reported income across 7 comparable periods, so its derived ratios are withheld; Religare Enterprises Ltd (RELIGARE) — its two data sources disagree by up to 41% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

07 · compare level, then change

Valuation Against Growth & Quality

Life Insurance Corporation of India has the lowest P/BV ÷ ROE among the 8 Finance - Insurance companies compared here, at 0.08×. Go Digit General Insurance Ltd is next at 0.4×. Religare Enterprises Ltd has the lowest P/BV at 2.95×, so level and change sit with different companies.

What the numbers say: Life Insurance Corporation of India has the lowest comparable P/BV ÷ ROE at 0.08×, 80% below Go Digit General Insurance Ltd. Only 8 of 8 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderLife Insurance Corporation of India · 0.08×
Gap80% versus #2 · Go Digit General Insurance Ltd
Persistence0/8 recent comparable periods
Coverage8/8 companies · 65 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.
P/BV ÷ ROElowest return-adjusted price
1Life Insurance Corporation of India LICI0.1
2Go Digit General Insurance Ltd GODIGIT0.4
3ICICI Prudential Life Insurance Company Ltd ICICIPRULI0.4
4HDFC Life Insurance Company Ltd HDFCLIFE0.6
5SBI Life Insurance Company Ltd SBILIFE0.7
P/BVlowest P/BV
1Religare Enterprises Ltd RELIGARE3.0
2Life Insurance Corporation of India LICI3.0
3Niva Bupa Health Insurance Company Ltd NIVABUPA4.2
4Go Digit General Insurance Ltd GODIGIT4.9
5ICICI Prudential Life Insurance Company Ltd ICICIPRULI5.3
Valuation · company comparison
8/8 level · 8/8 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyP/BV ÷ ROEP/BVReported
SBI Life Insurance Company Ltd SBILIFE0.89.2Jun 2026
HDFC Life Insurance Company Ltd HDFCLIFE0.77.8Jun 2026
Go Digit General Insurance Ltd GODIGIT0.66.7Jun 2026
ICICI Prudential Life Insurance Company Ltd ICICIPRULI0.35.2Jun 2026
Life Insurance Corporation of India LICI—3.4Mar 2026
Niva Bupa Health Insurance Company Ltd NIVABUPA—3.4Mar 2026
Canara HSBC Life Insurance Company Ltd CANHLIFE—8.1Jun 2026
Religare Enterprises Ltd RELIGARE—2.5Mar 2026
Full 20-quarter history · every available company

P/BV ÷ ROE · reported quarter history

Go Digit General Insurance Ltd · GODIGIT

—
—
—
—
—
—
—
—
—
—
—
1.5
0.6
0.7
0.6
0.7
0.6
0.7
0.6
—

HDFC Life Insurance Company Ltd · HDFCLIFE

—
1.2
1.0
0.5
1.0
1.3
0.9
1.1
0.8
0.9
0.9
0.8
0.8
0.8
0.9
0.9
0.7
0.9
0.8
0.7

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

—
0.4
0.6
0.9
1.1
0.8
0.8
0.8
1.0
0.8
1.0
1.3
1.3
0.9
0.6
0.6
0.7
0.8
0.5
0.3

SBI Life Insurance Company Ltd · SBILIFE

1.4
1.2
0.7
0.4
1.1
0.8
1.0
0.4
0.8
0.9
1.1
0.5
0.9
0.7
0.7
0.6
0.7
1.0
0.8
—

P/BV · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
8.5
8.1

Go Digit General Insurance Ltd · GODIGIT

—
—
—
—
—
—
—
—
—
—
—
9.0
7.4
6.4
5.7
7.3
7.5
6.9
6.5
6.7

HDFC Life Insurance Company Ltd · HDFCLIFE

17.0
14.8
11.8
7.6
9.1
9.9
6.7
10.3
10.1
10.2
9.6
8.7
10.2
8.6
9.3
10.8
9.7
9.5
7.5
7.8

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

11.4
8.9
7.7
7.7
7.8
6.7
6.8
7.8
7.7
7.6
7.9
7.9
10.1
8.2
7.0
7.8
6.8
7.4
5.7
5.2

Life Insurance Corporation of India · LICI

—
—
—
—
—
16.1
13.2
8.7
8.9
8.5
9.3
13.5
7.8
5.8
5.2
7.3
4.3
3.8
3.4
—

Niva Bupa Health Insurance Company Ltd · NIVABUPA

—
—
—
—
—
—
—
—
—
—
—
—
—
—
6.9
4.0
3.9
3.7
3.4
—

Religare Enterprises Ltd · RELIGARE

—
—
—
—
—
-4.2
-4.7
-5.8
3.8
3.1
3.1
3.8
4.3
3.8
3.2
3.1
3.3
2.8
2.5
—

SBI Life Insurance Company Ltd · SBILIFE

11.6
10.7
9.8
9.3
10.2
10.1
9.5
9.7
9.7
10.3
10.4
11.5
12.1
8.7
9.3
12.4
10.1
11.1
9.7
9.2
08 · let price answer last

Market action

SBI Life Insurance Company Ltd has the strongest one-year price move in Finance - Insurance at +2.3%. Niva Bupa Health Insurance Company Ltd leads on Mansfield relative strength against NIFTY at +7.9%. 3 of 7 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Finance - Insurance comparison names 7 specific ways its own evidence can mislead, all listed below. All 8 companies here report on comparable dates, so no rank carries a stale marker. 4 have second-feed figures withheld because the two sources disagree. 2 of the 7 ranked sections have fewer than three usable current readings.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
  • 4 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
  • Thin comparisons: Funding base, Asset quality have fewer than three usable current readings.
09 · the complete set

Which companies are included?

All 8 companies in the canonical Finance - Insurance membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

CompanyMarket valuePricePriced toLatest fundamentalsSource standing
Life Insurance Corporation of India LICI₹5.3 L Cr₹4212026-07-19Mar 2026Second feed withheld
SBI Life Insurance Company Ltd SBILIFE₹1.9 L Cr₹1,8592026-07-19Jun 2026Cross-checked
HDFC Life Insurance Company Ltd HDFCLIFE₹1.2 L Cr₹5552026-07-19Jun 2026Cross-checked
ICICI Prudential Life Insurance Company Ltd ICICIPRULI₹72.6K Cr₹5012026-07-19Jun 2026Cross-checked
Go Digit General Insurance Ltd GODIGIT₹23.7K Cr₹2562026-07-19Jun 2026Cross-checked
Niva Bupa Health Insurance Company Ltd NIVABUPAAHEAD25/26 WEEKS₹16.0K Cr₹86.62026-07-19Mar 2026Second feed withheld
Canara HSBC Life Insurance Company Ltd CANHLIFE₹14.0K Cr₹1472026-07-19Jun 2026Second feed withheld
Religare Enterprises Ltd RELIGAREAHEAD₹8.6K Cr₹2582026-07-19Mar 2026Second feed withheld
How each company's sources stand: 4 of 8 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Life Insurance Corporation of India (LICI) — its two data sources disagree by up to 120% on reported income across 14 comparable periods, so its derived ratios are withheld; Niva Bupa Health Insurance Company Ltd (NIVABUPA) — its two data sources disagree by up to 860% on reported income across 11 comparable periods, so its derived ratios are withheld; Canara HSBC Life Insurance Company Ltd (CANHLIFE) — its two data sources disagree by up to 195% on reported income across 7 comparable periods, so its derived ratios are withheld; Religare Enterprises Ltd (RELIGARE) — its two data sources disagree by up to 41% on reported income across 14 comparable periods, so its derived ratios are withheld.
Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 8 Finance - Insurance companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-24 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing4 cross-checked · 0 unverified · 4 withheld, of 8 graded companies.

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.

Questions investors ask · short, speakable answers

Finance - Insurance company comparison FAQs

These 16 answers restate the Finance - Insurance comparison above in question form. Every one is computed from the same 8 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.

What is the Nifty Finance - Insurance index?

The Nifty Finance - Insurance index tracks India's listed Finance - Insurance companies as a single basket. This page follows the same 8 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Finance - Insurance sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best Finance - Insurance stocks in India?

Ranked by this page's four-factor score, Life Insurance Corporation of India places first among 8 listed Finance - Insurance companies, followed by Niva Bupa Health Insurance Company Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Finance - Insurance stocks are listed in India?

This comparison covers 8 listed Finance - Insurance companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Finance - Insurance company is the biggest?

Life Insurance Corporation of India is the largest, with trailing-twelve-month income of ₹9,78,893 crore, ahead of SBI Life Insurance Company Ltd at ₹1,19,656 crore. That covers 8 of 8 companies with comparable reporting through Mar 2026.

Which Finance - Insurance company is growing fastest?

Niva Bupa Health Insurance Company Ltd has the fastest income growth at 24.6% year on year, across 8 of 8 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Finance - Insurance company makes the most profit?

Life Insurance Corporation of India earns the most, at ₹57,426 crore of trailing-twelve-month net profit, from 8 of 8 comparable companies. ICICI Prudential Life Insurance Company Ltd has the fastest profit growth at 35.7%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Finance - Insurance company earns the highest return on capital?

Niva Bupa Health Insurance Company Ltd leads on return on assets at 3%, across 8 of 8 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Finance - Insurance stock is the cheapest?

On price-to-book divided by return on equity — where a LOWER number is cheaper — Life Insurance Corporation of India screens cheapest at 0.08×. Only 8 of 8 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Finance - Insurance stock has the strongest price momentum?

Niva Bupa Health Insurance Company Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Finance - Insurance company scores highest for research priority?

Life Insurance Corporation of India scores 67 out of 100 with 72.9% evidence confidence, from 21.5 points on growth and earnings, 16.6 on capital efficiency, 19.7 on valuation and 9.2 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Finance - Insurance companies does this comparison cover, and over what period?

It compares 8 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Finance - Insurance sector?

The 8 Finance - Insurance companies on this page carry ₹9,74,907 crore of combined market value. Life Insurance Corporation of India is the largest at ₹5,32,944 crore, about 55% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

What is the Finance - Insurance sector's P/B ratio?

The median price-to-book ratio across the 8 Finance - Insurance companies on this page is 5.3×, measured on the 8 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.

How is the Finance - Insurance sector performing?

3 of the 7 covered Finance - Insurance companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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