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.

The 8 Finance - Insurance companies listed in India are Life Insurance Corporation of India (₹5.1 L Cr, the largest), SBI Life Insurance Company Ltd, HDFC Life Insurance Company Ltd and 5 more. 2 of 7 covered companies beat NIFTY 500 on relative strength. Readings are as of 17 Sep 2026.

All 8 Finance - Insurance Stocks in India (Sep 2026) — ranked by 4-Factor score

1Life Insurance Corporation of India₹5.1 L Cr72.1/100Favorable setup · strongest on P/BV divided by ROE and profit growth
2ICICI Prudential Life Insurance Company Ltd₹68.4K Cr45.9/100Mixed-negative evidence · strongest on profit growth and own-history P/BV
3Canara HSBC Life Insurance Company Ltd₹14.4K Cr43.3/100Mixed-negative evidence · strongest on ROA improvement and ROE improvement
4Go Digit General Insurance Ltd₹23.7K Cr43.0/100Mixed-negative evidence · strongest on ROA and ROA improvement
5Niva Bupa Health Insurance Company Ltd₹14.8K Cr42.7/100Mixed-negative evidence · strongest on relative strength versus sector and income growth
6Religare Enterprises Ltd₹8.9K Cr41.2/100Thin evidence · provisional · strongest on income growth and relative strength versus the benchmark
7SBI Life Insurance Company Ltd₹1.7 L Cr39.3/100Mixed-negative evidence · strongest on relative strength versus sector and ROE
8HDFC Life Insurance Company Ltd₹1.2 L Cr36.8/100Mixed-negative evidence · strongest on profitable quarters

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 11 Sep 2026. Not investment advice.

01 · the index people search for

Nifty Finance - Insurance Index — Constituents & Performance

All 8 listed Indian Finance - Insurance companies are named here, largest first — the same constituent set people search for as the Nifty Finance - Insurance index. Every figure is equal-weighted across those companies and carries its own as-of date. One large constituent cannot set the reading.

Life Insurance Corporation of India₹5.1 L Cr
SBI Life Insurance Company Ltd₹1.7 L Cr
HDFC Life Insurance Company Ltd₹1.2 L Cr
ICICI Prudential Life Insurance Company Ltd₹68.4K Cr
Go Digit General Insurance Ltd₹23.7K Cr
Niva Bupa Health Insurance Company Ltd₹14.8K Cr
Canara HSBC Life Insurance Company Ltd₹14.4K Cr
Religare Enterprises Ltd₹8.9K Cr

02 · the sector itself · before any single company

How has Finance - Insurance moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 7% behind NIFTY 500. Earnings across its companies grew 9% 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 · 3/8 >200d (+1) · 2/8 lead (+1) · EPS 6/7↑

Finance - Insurance, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

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.

03 · sector relative strength, before individual stocks

Is Finance - Insurance outperforming NIFTY 500?

Finance - Insurance has underperformed NIFTY 500 by 5.5% over the last 52 weeks. Over 13 weeks the gap is a lead of 0.7%. 2 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 +7.4%.

+0.7%Sector vs NIFTY 500 · 13 weeks

-5.5%Sector vs NIFTY 500 · 52 weeks

2/7Stocks leading NIFTY 500

3/7Stocks leading sector

Sector metric: 7.4 as of 2026-08-22 · NARROWING · rising.

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

Finance - Insurance has underperformed NIFTY 500 by 5.5% over 52 weeks and 0.7% over 13 weeks. 2 of 7 covered companies beat NIFTY on Mansfield relative strength, while 3 of 7 beat the sector itself. Life Insurance Corporation of India leads with income of ₹9,94,088 crore, based on 8 of 8 comparable companies through Jun 2026.

Companies

complete canonical membership

Combined market value

₹9.3 L Cr

Life Insurance Corporation of India

Revenue growing

6/8

positive TTM year-on-year growth

Beating NIFTY 500

2/7

positive Mansfield relative strength

Comparing 5 of 8

04 · 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 66.6% evidence confidence.

Niva Bupa Health Insurance Company Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

How this score is built, and what the marks mean

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. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1Life Insurance Corporation of IndiaLICI	72.1/100Favorable setup67% evidence	TURNING	22.7/35 Income 10.1% · PAT 23.3% 52% evidence	16.5/25 ROA — · ROE 37.8% · GNPA — 34% evidence	20.0/20 P/BV 2.89× · P/BV÷ROE 0.08 100% evidence	12.9/20 RS sector 1.9% · RS bench -3% · 1Y -7.9%2 of 12 weeks ahead 100% evidence
Exact sum: 22.7 + 16.5 + 20 + 12.9 = 72.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2ICICI Prudential Life Insurance Company LtdICICIPRULI	45.9/100Mixed-negative evidence78% evidence	TURNING	17.3/35 Income -10.5% · PAT 35.7% 75% evidence	11.3/25 ROA 0.3% · ROE 12.6% · GNPA — 72% evidence	11.3/20 P/BV 5.02× · P/BV÷ROE 0.4 100% evidence	6.0/20 RS sector -9% · RS bench -16.3% · 1Y -21%0 of 11 weeks ahead 70% evidence
Exact sum: 17.3 + 11.3 + 11.3 + 6 = 45.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Canara HSBC Life Insurance Company LtdCANHLIFE	43.3/100Mixed-negative evidence62% evidence	BREAKING OUT	24.0/35 Income 9.1% · PAT 9.1% 86% evidence	5.6/25 ROA 0.2% · ROE 8.1% · GNPA — 72% evidence	3.7/20 P/BV 8.84× · P/BV÷ROE 1.09 70% evidence	10.0/20 RS sector — · RS bench — · 1Y —5 of 12 weeks ahead 0% evidence
Exact sum: 24 + 5.6 + 3.7 + 10 = 43.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Go Digit General Insurance LtdGODIGIT	43.0/100Mixed-negative evidence82% evidence	BASING	18.4/35 Income 7.3% · PAT 6.5% 86% evidence	17.3/25 ROA 2.2% · ROE 12.2% · GNPA — 72% evidence	7.3/20 P/BV 5.08× · P/BV÷ROE 0.42 70% evidence	0.0/20 RS sector -14.5% · RS bench -18.8% · 1Y -27.6%0 of 12 weeks ahead 100% evidence
Exact sum: 18.4 + 17.3 + 7.3 + 0 = 43 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Niva Bupa Health Insurance Company LtdNIVABUPA	42.7/100Mixed-negative evidence61% evidence	ASLEEP	17.0/35 Income 27.9% · PAT -42.6% 52% evidence	8.9/25 ROA — · ROE 3.5% · GNPA — 34% evidence	3.8/20 P/BV 3.9× · P/BV÷ROE 1.13 70% evidence	13.0/20 RS sector 7.4% · RS bench 2.4% · 1Y -5.6%6 of 12 weeks ahead 100% evidence
Exact sum: 17 + 8.9 + 3.8 + 13 = 42.7 · Decision use: Price leads the evidence: RS versus the benchmark is 2.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
6Religare Enterprises LtdRELIGARE	41.2/100Thin evidence · provisional55% evidence	TURNING	15.4/35 Income 19% · PAT -80% 52% evidence	8.8/25 ROA — · ROE 3.2% · GNPA — 34% evidence	5.2/20 P/BV 2.94× · P/BV÷ROE 0.93 70% evidence	11.8/20 RS sector -2.1% · RS bench 8% · 1Y 1.4%7 of 11 weeks ahead 70% evidence
Exact sum: 15.4 + 8.8 + 5.2 + 11.8 = 41.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7SBI Life Insurance Company LtdSBILIFE	39.3/100Mixed-negative evidence76% evidence	BASING	7.9/35 Income -1.3% · PAT 4.6% 86% evidence	13.6/25 ROA 0.4% · ROE 13.7% · GNPA — 72% evidence	5.3/20 P/BV 8.38× · P/BV÷ROE 0.61 70% evidence	12.5/20 RS sector 4.4% · RS bench -10% · 1Y -6.7%0 of 10 weeks ahead 70% evidence
Exact sum: 7.9 + 13.6 + 5.3 + 12.5 = 39.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8HDFC Life Insurance Company LtdHDFCLIFE	36.8/100Mixed-negative evidence76% evidence	BASING	13.3/35 Income 4.3% · PAT 5.1% 86% evidence	12.7/25 ROA 0.5% · ROE 11.3% · GNPA — 72% evidence	6.3/20 P/BV 5.89× · P/BV÷ROE 0.52 70% evidence	4.5/20 RS sector -12.5% · RS bench -18.4% · 1Y -30.2%0 of 10 weeks ahead 70% evidence
Exact sum: 13.3 + 12.7 + 6.3 + 4.5 = 36.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

05 · what price has already done

Market action

Religare Enterprises Ltd has the strongest one-year price move in Finance - Insurance at +1.4%. It also leads on Mansfield relative strength against NIFTY at +8%. 2 of 7 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-09-11.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · the story behind the numbers

Finance - Insurance — the story behind the numbers

This is the written read behind the Finance - Insurance figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 19 Apr 2026, so the words are older than the numbers. 1 theme is live here.

The sector is successfully navigating a transition to high-margin non-par products, resulting in superior PAT growth despite moderate premium growth. While regulatory headwinds regarding GST and RBC transition persist, the operational efficiency gains and margin expansion provide a strong buffer for future earnings.

The life insurance sector, as represented by LICI in 9MFY26, is undergoing a structural shift toward profitability over pure volume. LICI reported a PAT of ₹33,998 Crore, a 16.68% YoY increase that significantly outpaced its 9.02% revenue growth. This divergence is primarily explained by margin expansion, with the net VNB margin climbing to 18.8%.

How old this read is: STALE — this read comes from our Finance - Insurance sector brief dated 19 Apr 2026, about 5 months ago. The page says so rather than dressing it up, and a fresh sector dive replaces it the day it runs.

What is live in this sector right now

Live theme	Severity	Evidence on file
Impact of GST exemption on life insurance products leading to loss of Input Tax Credit (ITC) and transition to Risk Based Capital (RBC) and IFRS.Named for LICI	medium	“So that has impacted 2.8%, but this includes the GST impact, the impact of persistency and alignment of expenses” Management aims to subsume the impact through cost rationalization and top-line growth.

Sources: our Finance - Insurance sector brief, 19 Apr 2026 · company earnings-call transcripts.

07 · 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 ₹9,94,088 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 27.9%, so level and change sit with different companies.

What the numbers say: Life Insurance Corporation of India is the scale leader at ₹9,94,088 crore, 730.8% ahead of SBI Life Insurance Company Ltd. Niva Bupa Health Insurance Company Ltd's growth is 27.9% from a ₹7,907 crore base, with 12 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 · ₹9,94,088 crore

Gap730.8% versus #2 · SBI Life Insurance Company Ltd

Persistence7/8 recent comparable periods

Coverage8/8 companies · 108 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₹9.9 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 NIVABUPA28%

2Religare Enterprises Ltd RELIGARE19%

3Life Insurance Corporation of India LICI10%

4Canara HSBC Life Insurance Company Ltd CANHLIFE9.1%

5Go Digit General Insurance Ltd GODIGIT7.3%

Income · company comparison

8/8 level · 8/8 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Income	Income growth	Reported
Life Insurance Corporation of India LICI	₹2.4 L Cr	6.8%	Jun 2026
SBI Life Insurance Company Ltd SBILIFE	₹46.3K Cr	19%	Jun 2026
HDFC Life Insurance Company Ltd HDFCLIFE	₹33.8K Cr	15%	Jun 2026
Canara HSBC Life Insurance Company Ltd CANHLIFE	₹4.4K Cr	20%	Jun 2026
ICICI Prudential Life Insurance Company Ltd ICICIPRULI	₹3.2K Cr	-80%	Jun 2026
Niva Bupa Health Insurance Company Ltd NIVABUPA	₹2.5K Cr	28%	Jun 2026
Go Digit General Insurance Ltd GODIGIT	₹2.4K Cr	8.5%	Jun 2026
Religare Enterprises Ltd RELIGARE	₹2.4K Cr	26%	Jun 2026

Full 20-quarter history · every available company

Income · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024₹3.3K Cr

Dec 2024₹1.5K Cr

Mar 2025₹2.8K Cr

Jun 2025₹3.6K Cr

Sep 2025₹2.3K Cr

Dec 2025₹4.2K Cr

Mar 2026₹1.4K Cr

Jun 2026₹4.4K Cr

Go Digit General Insurance Ltd · GODIGIT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹1.6K Cr

Jun 2023₹1.7K Cr

Sep 2023₹1.9K Cr

Dec 2023₹2.3K Cr

Mar 2024₹2.3K Cr

Jun 2024₹2.1K Cr

Sep 2024₹2.2K Cr

Dec 2024₹2.4K Cr

Mar 2025₹2.6K Cr

Jun 2025₹2.2K Cr

Sep 2025₹2.5K Cr

Dec 2025₹2.6K Cr

Mar 2026₹2.7K Cr

Jun 2026₹2.4K Cr

HDFC Life Insurance Company Ltd · HDFCLIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹19.6K Cr

Mar 2023₹20.9K Cr

Jun 2023₹23.4K Cr

Sep 2023₹23.1K Cr

Dec 2023₹26.9K Cr

Mar 2024₹28.0K Cr

Jun 2024₹26.9K Cr

Sep 2024₹28.5K Cr

Dec 2024₹17.3K Cr

Mar 2025₹24.2K Cr

Jun 2025₹29.5K Cr

Sep 2025₹20.7K Cr

Dec 2025₹29.4K Cr

Mar 2026₹19.9K Cr

Jun 2026₹33.8K Cr

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹17.4K Cr

Mar 2023₹11.0K Cr

Jun 2023₹23.4K Cr

Sep 2023₹17.4K Cr

Dec 2023₹26.4K Cr

Mar 2024₹22.5K Cr

Jun 2024₹25.4K Cr

Sep 2024₹25.2K Cr

Dec 2024₹4.5K Cr

Mar 2025₹15.7K Cr

Jun 2025₹25.4K Cr

Sep 2025₹11.9K Cr

Dec 2025₹22.8K Cr

Mar 2026₹3.2K Cr

Jun 2026—

Life Insurance Corporation of India · LICI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹2.0 L Cr

Mar 2023₹2.0 L Cr

Jun 2023₹1.9 L Cr

Sep 2023₹2.0 L Cr

Dec 2023₹2.1 L Cr

Mar 2024₹2.4 L Cr

Jun 2024₹2.1 L Cr

Sep 2024₹2.3 L Cr

Dec 2024₹2.0 L Cr

Mar 2025₹2.4 L Cr

Jun 2025₹2.2 L Cr

Sep 2025₹2.4 L Cr

Dec 2025₹2.4 L Cr

Mar 2026₹2.8 L Cr

Jun 2026₹2.4 L Cr

Niva Bupa Health Insurance Company Ltd · NIVABUPA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023₹969 Cr

Dec 2023₹1.0K Cr

Mar 2024₹1.3K Cr

Jun 2024₹1.1K Cr

Sep 2024₹1.3K Cr

Dec 2024₹1.3K Cr

Mar 2025₹1.7K Cr

Jun 2025₹1.9K Cr

Sep 2025₹1.6K Cr

Dec 2025₹1.6K Cr

Mar 2026₹2.3K Cr

Jun 2026₹2.5K Cr

Religare Enterprises Ltd · RELIGARE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹1.2K Cr

Mar 2023₹1.4K Cr

Jun 2023₹1.3K Cr

Sep 2023₹1.6K Cr

Dec 2023₹1.5K Cr

Mar 2024₹1.9K Cr

Jun 2024₹1.7K Cr

Sep 2024₹2.0K Cr

Dec 2024₹1.7K Cr

Mar 2025₹2.0K Cr

Jun 2025₹1.9K Cr

Sep 2025₹2.1K Cr

Dec 2025₹2.1K Cr

Mar 2026₹2.5K Cr

Jun 2026₹2.4K Cr

SBI Life Insurance Company Ltd · SBILIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹26.8K Cr

Mar 2023₹21.3K Cr

Jun 2023₹27.9K Cr

Sep 2023₹28.8K Cr

Dec 2023₹39.0K Cr

Mar 2024₹36.3K Cr

Jun 2024₹34.7K Cr

Sep 2024₹40.3K Cr

Dec 2024₹18.9K Cr

Mar 2025₹23.1K Cr

Jun 2025₹39.0K Cr

Sep 2025₹23.1K Cr

Dec 2025₹46.1K Cr

Mar 2026₹4.1K Cr

Jun 2026₹46.3K Cr

Income growth · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025-29%

Dec 2025177%

Mar 2026-51%

Jun 202620%

Go Digit General Insurance Ltd · GODIGIT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 202441%

Jun 202424%

Sep 202417%

Dec 20246.6%

Mar 202515%

Jun 20256.2%

Sep 202511%

Dec 20255.5%

Mar 20264.5%

Jun 20268.5%

HDFC Life Insurance Company Ltd · HDFCLIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202338%

Mar 202434%

Jun 202415%

Sep 202423%

Dec 2024-36%

Mar 2025-14%

Jun 20259.4%

Sep 2025-28%

Dec 202570%

Mar 2026-18%

Jun 202615%

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202352%

Mar 2024105%

Jun 20248.6%

Sep 202445%

Dec 2024-83%

Mar 2025-30%

Jun 20250.0%

Sep 2025-53%

Dec 2025403%

Mar 2026-80%

Jun 2026—

Life Insurance Corporation of India · LICI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20238.3%

Mar 202419%

Jun 202411%

Sep 202414%

Dec 2024-4.8%

Mar 20251.9%

Jun 20256.0%

Sep 20254.5%

Dec 202516%

Mar 202614%

Jun 20266.8%

Niva Bupa Health Insurance Company Ltd · NIVABUPA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 202436%

Dec 202423%

Mar 202527%

Jun 202572%

Sep 202519%

Dec 202528%

Mar 202635%

Jun 202628%

Religare Enterprises Ltd · RELIGARE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202330%

Mar 202433%

Jun 202433%

Sep 202423%

Dec 202410%

Mar 202510%

Jun 20258.8%

Sep 20256.4%

Dec 202523%

Mar 202621%

Jun 202626%

SBI Life Insurance Company Ltd · SBILIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202346%

Mar 202470%

Jun 202424%

Sep 202440%

Dec 2024-52%

Mar 2025-36%

Jun 202513%

Sep 2025-43%

Dec 2025145%

Mar 2026-82%

Jun 202619%

08 · 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 ₹60,055 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 ₹60,055 crore of TTM profit, 23.1× 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 · ₹60,055 crore

Gap23.1× versus #2 · SBI Life Insurance Company Ltd

Persistence7/8 recent comparable periods

Coverage8/8 companies · 140 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₹60.1K 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 LICI23%

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

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
Life Insurance Corporation of India LICI	₹13.6K Cr	24%	Jun 2026
SBI Life Insurance Company Ltd SBILIFE	₹725 Cr	22%	Jun 2026
HDFC Life Insurance Company Ltd HDFCLIFE	₹611 Cr	12%	Jun 2026
ICICI Prudential Life Insurance Company Ltd ICICIPRULI	₹386 Cr	28%	Jun 2026
Niva Bupa Health Insurance Company Ltd NIVABUPA	₹138 Cr	94%	Jun 2026
Go Digit General Insurance Ltd GODIGIT	₹86 Cr	-38%	Jun 2026
Canara HSBC Life Insurance Company Ltd CANHLIFE	₹28 Cr	22%	Jun 2026
Religare Enterprises Ltd RELIGARE	₹-47 Cr	-688%	Jun 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

Sep 2021₹-77 Cr

Dec 2021₹28 Cr

Mar 2022₹155 Cr

Jun 2022₹-29 Cr

Sep 2022₹-18 Cr

Dec 2022₹-17 Cr

Mar 2023₹155 Cr

Jun 2023₹-42 Cr

Sep 2023₹-18 Cr

Dec 2023₹138 Cr

Mar 2024₹36 Cr

Jun 2024₹19 Cr

Sep 2024₹37 Cr

Dec 2024₹29 Cr

Mar 2025₹32 Cr

Jun 2025₹23 Cr

Sep 2025₹41 Cr

Dec 2025₹28 Cr

Mar 2026₹35 Cr

Jun 2026₹28 Cr

Go Digit General Insurance Ltd · GODIGIT

Sep 2021₹-77 Cr

Dec 2021₹-145 Cr

Mar 2022₹-100 Cr

Jun 2022₹14 Cr

Sep 2022—

Dec 2022—

Mar 2023₹26 Cr

Jun 2023₹58 Cr

Sep 2023₹28 Cr

Dec 2023₹43 Cr

Mar 2024₹53 Cr

Jun 2024₹101 Cr

Sep 2024₹89 Cr

Dec 2024₹119 Cr

Mar 2025₹116 Cr

Jun 2025₹138 Cr

Sep 2025₹117 Cr

Dec 2025₹140 Cr

Mar 2026₹149 Cr

Jun 2026₹86 Cr

HDFC Life Insurance Company Ltd · HDFCLIFE

Sep 2021₹274 Cr

Dec 2021₹274 Cr

Mar 2022₹477 Cr

Jun 2022₹365 Cr

Sep 2022₹316 Cr

Dec 2022₹316 Cr

Mar 2023₹362 Cr

Jun 2023₹417 Cr

Sep 2023₹378 Cr

Dec 2023₹368 Cr

Mar 2024₹412 Cr

Jun 2024₹479 Cr

Sep 2024₹435 Cr

Dec 2024₹421 Cr

Mar 2025₹475 Cr

Jun 2025₹548 Cr

Sep 2025₹448 Cr

Dec 2025₹418 Cr

Mar 2026₹497 Cr

Jun 2026₹611 Cr

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

Sep 2021₹446 Cr

Dec 2021₹312 Cr

Mar 2022₹187 Cr

Jun 2022₹157 Cr

Sep 2022₹200 Cr

Dec 2022₹222 Cr

Mar 2023₹235 Cr

Jun 2023₹206 Cr

Sep 2023₹244 Cr

Dec 2023₹227 Cr

Mar 2024₹174 Cr

Jun 2024₹224 Cr

Sep 2024₹251 Cr

Dec 2024₹325 Cr

Mar 2025₹385 Cr

Jun 2025₹301 Cr

Sep 2025₹296 Cr

Dec 2025₹387 Cr

Mar 2026₹624 Cr

Jun 2026₹386 Cr

Life Insurance Corporation of India · LICI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹7.3K Cr

Mar 2023₹13.2K Cr

Jun 2023₹9.6K Cr

Sep 2023₹8.0K Cr

Dec 2023₹9.4K Cr

Mar 2024₹13.8K Cr

Jun 2024₹10.5K Cr

Sep 2024₹7.7K Cr

Dec 2024₹11.0K Cr

Mar 2025₹19.0K Cr

Jun 2025₹11.0K Cr

Sep 2025₹10.1K Cr

Dec 2025₹12.9K Cr

Mar 2026₹23.5K Cr

Jun 2026₹13.6K Cr

Niva Bupa Health Insurance Company Ltd · NIVABUPA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023₹-8 Cr

Dec 2023₹5 Cr

Mar 2024₹157 Cr

Jun 2024₹-19 Cr

Sep 2024₹13 Cr

Dec 2024₹13 Cr

Mar 2025₹206 Cr

Jun 2025₹71 Cr

Sep 2025₹-35 Cr

Dec 2025₹-88 Cr

Mar 2026₹159 Cr

Jun 2026₹138 Cr

Religare Enterprises Ltd · RELIGARE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹-96 Cr

Mar 2023₹3.5K Cr

Jun 2023₹93 Cr

Sep 2023₹40 Cr

Dec 2023₹34 Cr

Mar 2024₹181 Cr

Jun 2024₹27 Cr

Sep 2024₹69 Cr

Dec 2024₹-63 Cr

Mar 2025₹151 Cr

Jun 2025₹8 Cr

Sep 2025₹46 Cr

Dec 2025₹-77 Cr

Mar 2026₹96 Cr

Jun 2026₹-47 Cr

SBI Life Insurance Company Ltd · SBILIFE

Sep 2021₹247 Cr

Dec 2021₹364 Cr

Mar 2022₹672 Cr

Jun 2022₹263 Cr

Sep 2022₹377 Cr

Dec 2022₹304 Cr

Mar 2023₹777 Cr

Jun 2023₹381 Cr

Sep 2023₹380 Cr

Dec 2023₹322 Cr

Mar 2024₹811 Cr

Jun 2024₹520 Cr

Sep 2024₹529 Cr

Dec 2024₹551 Cr

Mar 2025₹814 Cr

Jun 2025₹594 Cr

Sep 2025₹495 Cr

Dec 2025₹577 Cr

Mar 2026₹805 Cr

Jun 2026₹725 Cr

Profit growth · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022-161%

Mar 20230.0%

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-77%

Jun 2024—

Sep 2024—

Dec 2024-79%

Mar 2025-11%

Jun 202521%

Sep 202511%

Dec 2025-3.5%

Mar 20269.4%

Jun 202622%

Go Digit General Insurance Ltd · GODIGIT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-44%

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023314%

Sep 2023—

Dec 2023—

Mar 2024104%

Jun 202474%

Sep 2024218%

Dec 2024177%

Mar 2025119%

Jun 202537%

Sep 202531%

Dec 202518%

Mar 202628%

Jun 2026-38%

HDFC Life Insurance Company Ltd · HDFCLIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202215%

Dec 202215%

Mar 2023-24%

Jun 202314%

Sep 202320%

Dec 202316%

Mar 202414%

Jun 202415%

Sep 202415%

Dec 202414%

Mar 202515%

Jun 202514%

Sep 20253.0%

Dec 2025-0.7%

Mar 20264.6%

Jun 202612%

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-55%

Dec 2022-29%

Mar 202326%

Jun 202331%

Sep 202322%

Dec 20232.3%

Mar 2024-26%

Jun 20248.7%

Sep 20242.9%

Dec 202443%

Mar 2025121%

Jun 202534%

Sep 202518%

Dec 202519%

Mar 202662%

Jun 202628%

Life Insurance Corporation of India · LICI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202329%

Mar 20245.0%

Jun 20249.3%

Sep 2024-3.9%

Dec 202417%

Mar 202538%

Jun 20254.1%

Sep 202531%

Dec 202517%

Mar 202623%

Jun 202624%

Niva Bupa Health Insurance Company Ltd · NIVABUPA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024160%

Mar 202531%

Jun 2025—

Sep 2025-369%

Dec 2025-777%

Mar 2026-23%

Jun 202694%

Religare Enterprises Ltd · RELIGARE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-95%

Jun 2024-71%

Sep 202473%

Dec 2024-285%

Mar 2025-17%

Jun 2025-70%

Sep 2025-33%

Dec 2025—

Mar 2026-36%

Jun 2026-688%

SBI Life Insurance Company Ltd · SBILIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202218%

Sep 202253%

Dec 2022-16%

Mar 202316%

Jun 202345%

Sep 20230.8%

Dec 20235.9%

Mar 20244.4%

Jun 202436%

Sep 202439%

Dec 202471%

Mar 20250.4%

Jun 202514%

Sep 2025-6.4%

Dec 20254.7%

Mar 2026-1.1%

Jun 202622%

09 · compare level, then change

Funding Base & Its Composition

No company in this Finance - Insurance comparison reports a funding base figure this section can compare, 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

All-company data · latest reported quarter

Company	Deposits	Borrowings	Reported
Life Insurance Corporation of India LICI	—	₹0 Cr	Jun 2026
SBI Life Insurance Company Ltd SBILIFE	—	₹0 Cr	Jun 2026
HDFC Life Insurance Company Ltd HDFCLIFE	—	₹3.1K Cr	Jun 2026
ICICI Prudential Life Insurance Company Ltd ICICIPRULI	—	₹2.6K Cr	Jun 2026
Go Digit General Insurance Ltd GODIGIT	—	₹350 Cr	Jun 2026
Niva Bupa Health Insurance Company Ltd NIVABUPA	—	₹250 Cr	Jun 2026
Canara HSBC Life Insurance Company Ltd CANHLIFE	—	₹250 Cr	Jun 2026
Religare Enterprises Ltd RELIGARE	—	₹493 Cr	Jun 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

Sep 2021—

Dec 2021—

Mar 2022₹0 Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹0 Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹0 Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹0 Cr

Jun 2025—

Sep 2025₹0 Cr

Dec 2025—

Mar 2026₹250 Cr

Jun 2026₹250 Cr

Go Digit General Insurance Ltd · GODIGIT

Sep 2021—

Dec 2021—

Mar 2022₹0 Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹0 Cr

Jun 2023—

Sep 2023—

Dec 2023₹200 Cr

Mar 2024₹350 Cr

Jun 2024₹350 Cr

Sep 2024₹350 Cr

Dec 2024₹350 Cr

Mar 2025₹350 Cr

Jun 2025₹350 Cr

Sep 2025₹350 Cr

Dec 2025₹350 Cr

Mar 2026₹350 Cr

Jun 2026—

HDFC Life Insurance Company Ltd · HDFCLIFE

Sep 2021₹600 Cr

Dec 2021₹600 Cr

Mar 2022₹600 Cr

Jun 2022₹950 Cr

Sep 2022₹950 Cr

Dec 2022₹950 Cr

Mar 2023₹950 Cr

Jun 2023₹950 Cr

Sep 2023₹950 Cr

Dec 2023₹950 Cr

Mar 2024₹950 Cr

Jun 2024₹950 Cr

Sep 2024₹950 Cr

Dec 2024₹2.0K Cr

Mar 2025₹3.0K Cr

Jun 2025₹3.0K Cr

Sep 2025₹2.4K Cr

Dec 2025₹3.1K Cr

Mar 2026₹3.1K Cr

Jun 2026₹3.1K Cr

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

Sep 2021₹1.2K Cr

Dec 2021₹1.2K Cr

Mar 2022₹1.2K Cr

Jun 2022₹1.2K Cr

Sep 2022₹1.2K Cr

Dec 2022₹1.2K Cr

Mar 2023₹1.2K Cr

Jun 2023₹1.2K Cr

Sep 2023₹1.2K Cr

Dec 2023₹1.2K Cr

Mar 2024₹1.2K Cr

Jun 2024₹1.2K Cr

Sep 2024₹1.2K Cr

Dec 2024₹2.6K Cr

Mar 2025₹2.6K Cr

Jun 2025₹2.6K Cr

Sep 2025₹2.6K Cr

Dec 2025₹2.6K Cr

Mar 2026₹2.6K Cr

Jun 2026₹2.6K Cr

Life Insurance Corporation of India · LICI

Sep 2021—

Dec 2021—

Mar 2022₹1 Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹0 Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹0 Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹0 Cr

Jun 2025—

Sep 2025₹1 Cr

Dec 2025—

Mar 2026₹0 Cr

Jun 2026—

Niva Bupa Health Insurance Company Ltd · NIVABUPA

Sep 2021—

Dec 2021—

Mar 2022₹250 Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹250 Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹250 Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹250 Cr

Jun 2025—

Sep 2025₹250 Cr

Dec 2025—

Mar 2026₹250 Cr

Jun 2026—

Religare Enterprises Ltd · RELIGARE

Sep 2021—

Dec 2021—

Mar 2022₹4.9K Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹841 Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹443 Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹233 Cr

Jun 2025—

Sep 2025₹319 Cr

Dec 2025—

Mar 2026₹493 Cr

Jun 2026—

SBI Life Insurance Company Ltd · SBILIFE

Sep 2021—

Dec 2021—

Mar 2022₹0 Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹0 Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹0 Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹0 Cr

Jun 2025—

Sep 2025₹0 Cr

Dec 2025—

Mar 2026₹0 Cr

Jun 2026—

10 · compare level, then change

Return On Assets

Go Digit General Insurance Ltd has the highest ROA among the 8 Finance - Insurance companies compared here, at 2.2%. HDFC Life Insurance Company Ltd is next at 0.5%. Canara HSBC Life Insurance Company Ltd has the highest ROA change at +0.3 percentage points, so level and change sit with different companies.

What the numbers say: Go Digit General Insurance Ltd leads roa at 2.2%; Canara HSBC Life Insurance Company Ltd leads roa change at +0.3 percentage points.

LeaderGo Digit General Insurance Ltd · 2.2%

Gap340% versus #2 · HDFC Life Insurance Company Ltd

Persistence4/4 recent comparable periods

Coverage5/8 companies · 87 observations

Investor read: Go Digit General Insurance 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

1Go Digit General Insurance Ltd GODIGIT2.2%

2HDFC Life Insurance Company Ltd HDFCLIFE0.5%

3SBI Life Insurance Company Ltd SBILIFE0.4%

4ICICI Prudential Life Insurance Company Ltd ICICIPRULI0.3%

5Canara HSBC Life Insurance Company Ltd CANHLIFE0.2%

ROA changefastest improvers

1Canara HSBC Life Insurance Company Ltd CANHLIFE+0.3 pp

2Go Digit General Insurance Ltd GODIGIT+0.2 pp

3HDFC Life Insurance Company Ltd HDFCLIFE+0.1 pp

4SBI Life Insurance Company Ltd SBILIFE−0.1 pp

5ICICI Prudential Life Insurance Company Ltd ICICIPRULI−0.2 pp

Return on assets · company comparison

5/8 level · 5/8 change

Withheld from this chart: Life Insurance Corporation of India (LICI) — its two data sources disagree by up to 120% on reported income across 15 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; 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

Company	ROA	ROA change	Reported
Go Digit General Insurance Ltd GODIGIT	2.2%	+0.2 pp	Jun 2026
HDFC Life Insurance Company Ltd HDFCLIFE	0.5%	+0.1 pp	Jun 2026
SBI Life Insurance Company Ltd SBILIFE	0.4%	−0.1 pp	Jun 2026
ICICI Prudential Life Insurance Company Ltd ICICIPRULI	0.3%	−0.2 pp	Jun 2026
Canara HSBC Life Insurance Company Ltd CANHLIFE	0.2%	+0.3 pp	Jun 2026

Full 20-quarter history · every available company

ROA · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

Sep 2021—

Dec 2021-0.8%

Mar 20220.3%

Jun 20221.5%

Sep 2022-0.2%

Dec 2022-0.1%

Mar 2023-0.1%

Jun 20231.2%

Sep 2023-0.3%

Dec 20230.6%

Mar 20240.4%

Jun 20240.2%

Sep 20240.1%

Dec 20240.3%

Mar 20250.5%

Jun 2025-0.1%

Sep 20250.1%

Dec 20250.3%

Mar 20260.2%

Jun 20260.2%

Go Digit General Insurance Ltd · GODIGIT

Sep 20211.0%

Dec 2021-2.5%

Mar 2022-3.9%

Jun 2022-2.3%

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20231.0%

Dec 20230.9%

Mar 20241.0%

Jun 20241.0%

Sep 20241.4%

Dec 2024—

Mar 20252.0%

Jun 2025—

Sep 20252.1%

Dec 2025—

Mar 20262.2%

Jun 2026—

HDFC Life Insurance Company Ltd · HDFCLIFE

Sep 2021—

Dec 20210.4%

Mar 20220.4%

Jun 20220.7%

Sep 20220.5%

Dec 20220.4%

Mar 20230.5%

Jun 2023—

Sep 20230.5%

Dec 20230.5%

Mar 20240.3%

Jun 20240.4%

Sep 20240.3%

Dec 20240.0%

Mar 20250.3%

Jun 20250.4%

Sep 20250.5%

Dec 20250.4%

Mar 20260.3%

Jun 20260.5%

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

Sep 2021—

Dec 20210.6%

Mar 20220.4%

Jun 20220.3%

Sep 20220.2%

Dec 20220.3%

Mar 20230.3%

Jun 20230.4%

Sep 20230.2%

Dec 20230.3%

Mar 20240.3%

Jun 20240.2%

Sep 20240.2%

Dec 20240.3%

Mar 20250.3%

Jun 20250.5%

Sep 20250.3%

Dec 20250.3%

Mar 20260.4%

Jun 20260.3%

SBI Life Insurance Company Ltd · SBILIFE

Sep 2021—

Dec 20210.3%

Mar 20220.4%

Jun 20220.7%

Sep 20220.3%

Dec 20220.4%

Mar 20230.3%

Jun 20230.7%

Sep 20230.3%

Dec 20230.3%

Mar 20240.3%

Jun 20240.6%

Sep 20240.4%

Dec 20240.3%

Mar 20250.3%

Jun 20250.5%

Sep 20250.3%

Dec 20250.3%

Mar 20260.3%

Jun 20260.4%

ROA change · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+0.7 pp

Mar 2023−0.4 pp

Jun 2023−0.3 pp

Sep 2023−0.1 pp

Dec 2023+0.7 pp

Mar 2024+0.5 pp

Jun 2024−1.0 pp

Sep 2024+0.4 pp

Dec 2024−0.3 pp

Mar 2025+0.1 pp

Jun 2025−0.3 pp

Sep 20250.0 pp

Dec 20250.0 pp

Mar 2026−0.3 pp

Jun 2026+0.3 pp

Go Digit General Insurance Ltd · GODIGIT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024+0.4 pp

Dec 2024—

Mar 2025+1.0 pp

Jun 2025—

Sep 2025+0.7 pp

Dec 2025—

Mar 2026+0.2 pp

Jun 2026—

HDFC Life Insurance Company Ltd · HDFCLIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20220.0 pp

Mar 2023+0.1 pp

Jun 2023—

Sep 20230.0 pp

Dec 2023+0.1 pp

Mar 2024−0.2 pp

Jun 2024—

Sep 2024−0.2 pp

Dec 2024−0.5 pp

Mar 20250.0 pp

Jun 20250.0 pp

Sep 2025+0.2 pp

Dec 2025+0.4 pp

Mar 20260.0 pp

Jun 2026+0.1 pp

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−0.3 pp

Mar 2023−0.1 pp

Jun 2023+0.1 pp

Sep 20230.0 pp

Dec 20230.0 pp

Mar 20240.0 pp

Jun 2024−0.2 pp

Sep 20240.0 pp

Dec 20240.0 pp

Mar 20250.0 pp

Jun 2025+0.3 pp

Sep 2025+0.1 pp

Dec 20250.0 pp

Mar 2026+0.1 pp

Jun 2026−0.2 pp

SBI Life Insurance Company Ltd · SBILIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+0.1 pp

Mar 2023−0.1 pp

Jun 20230.0 pp

Sep 20230.0 pp

Dec 2023−0.1 pp

Mar 20240.0 pp

Jun 2024−0.1 pp

Sep 2024+0.1 pp

Dec 20240.0 pp

Mar 20250.0 pp

Jun 2025−0.1 pp

Sep 2025−0.1 pp

Dec 20250.0 pp

Mar 20260.0 pp

Jun 2026−0.1 pp

11 · 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%. Canara HSBC Life Insurance Company Ltd has the highest ROE change at +15.3 percentage points, so level and change sit with different companies.

What the numbers say: Life Insurance Corporation of India leads roe at 37.8%; Canara HSBC Life Insurance Company Ltd leads roe change at +15.3 percentage points.

LeaderLife Insurance Corporation of India · 37.8%

Gap175.9% versus #2 · SBI Life Insurance Company Ltd

PersistenceNot enough history

Coverage8/8 companies · 92 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

1Canara HSBC Life Insurance Company Ltd CANHLIFE+15.3 pp

2ICICI Prudential Life Insurance Company Ltd ICICIPRULI+5.3 pp

3Go Digit General Insurance Ltd GODIGIT+1.7 pp

4HDFC Life Insurance Company Ltd HDFCLIFE−0.6 pp

5SBI Life Insurance Company Ltd SBILIFE−2.5 pp

Return on equity · company comparison

8/8 level · 5/8 change

All-company data · latest reported quarter

Company	ROE	ROE change	Reported
ICICI Prudential Life Insurance Company Ltd ICICIPRULI	18%	+5.3 pp	Jun 2026
SBI Life Insurance Company Ltd SBILIFE	17%	−2.5 pp	Jun 2026
Go Digit General Insurance Ltd GODIGIT	12%	+1.7 pp	Jun 2026
HDFC Life Insurance Company Ltd HDFCLIFE	11%	−0.6 pp	Jun 2026
Canara HSBC Life Insurance Company Ltd CANHLIFE	8.7%	+15.3 pp	Jun 2026

Full 20-quarter history · every available company

ROE · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

Sep 2021—

Dec 2021-27%

Mar 20229.9%

Jun 202251%

Sep 2022-9.1%

Dec 2022-5.7%

Mar 2023-5.7%

Jun 202349%

Sep 2023-13%

Dec 2023-5.6%

Mar 202441%

Jun 202410%

Sep 20245.2%

Dec 202410%

Mar 202523%

Jun 2025-6.6%

Sep 20256.1%

Dec 202511%

Mar 20267.1%

Jun 20268.7%

Go Digit General Insurance Ltd · GODIGIT

Sep 20215.4%

Dec 2021-16%

Mar 2022-27%

Jun 2022-15%

Sep 2022—

Dec 2022—

Mar 20231.9%

Jun 2023—

Sep 20236.9%

Dec 20234.5%

Mar 20245.3%

Jun 20246.1%

Sep 202412%

Dec 20248.8%

Mar 202510%

Jun 202510%

Sep 202512%

Dec 202510%

Mar 202612%

Jun 2026—

HDFC Life Insurance Company Ltd · HDFCLIFE

Sep 2021—

Dec 202112%

Mar 202212%

Jun 202215%

Sep 20229.4%

Dec 20227.6%

Mar 20237.1%

Jun 20239.4%

Sep 202313%

Dec 202311%

Mar 202411%

Jun 202411%

Sep 202413%

Dec 202411%

Mar 202511%

Jun 202512%

Sep 202513%

Dec 202511%

Mar 20269.7%

Jun 202611%

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

Sep 2021—

Dec 202121%

Mar 202214%

Jun 20228.2%

Sep 20226.9%

Dec 20228.6%

Mar 20239.0%

Jun 20239.3%

Sep 20238.0%

Dec 20239.2%

Mar 20248.3%

Jun 20246.3%

Sep 20248.1%

Dec 20248.8%

Mar 202511%

Jun 202513%

Sep 20259.8%

Dec 20259.4%

Mar 202612%

Jun 202618%

SBI Life Insurance Company Ltd · SBILIFE

Sep 2021—

Dec 20219.2%

Mar 202213%

Jun 202224%

Sep 20229.0%

Dec 202213%

Mar 20239.8%

Jun 202324%

Sep 202312%

Dec 202311%

Mar 20249.1%

Jun 202422%

Sep 202414%

Dec 202413%

Mar 202513%

Jun 202519%

Sep 202514%

Dec 202511%

Mar 202612%

Jun 202617%

ROE change · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+21.2 pp

Mar 2023−15.6 pp

Jun 2023−2.2 pp

Sep 2023−3.6 pp

Dec 2023+0.1 pp

Mar 2024+47.0 pp

Jun 2024−38.5 pp

Sep 2024+17.9 pp

Dec 2024+15.8 pp

Mar 2025−17.9 pp

Jun 2025−16.8 pp

Sep 2025+0.9 pp

Dec 2025+0.4 pp

Mar 2026−16.3 pp

Jun 2026+15.3 pp

Go Digit General Insurance Ltd · GODIGIT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023+28.8 pp

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024+3.4 pp

Jun 2024—

Sep 2024+4.9 pp

Dec 2024+4.3 pp

Mar 2025+4.9 pp

Jun 2025+3.9 pp

Sep 2025+0.2 pp

Dec 2025+1.2 pp

Mar 2026+1.7 pp

Jun 2026—

HDFC Life Insurance Company Ltd · HDFCLIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−4.7 pp

Mar 2023−5.0 pp

Jun 2023−6.0 pp

Sep 2023+3.4 pp

Dec 2023+3.7 pp

Mar 2024+3.5 pp

Jun 2024+2.0 pp

Sep 2024−0.1 pp

Dec 2024−0.1 pp

Mar 2025+0.1 pp

Jun 2025+0.5 pp

Sep 2025+0.5 pp

Dec 2025−0.7 pp

Mar 2026−1.0 pp

Jun 2026−0.6 pp

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022−12.1 pp

Mar 2023−5.0 pp

Jun 2023+1.1 pp

Sep 2023+1.1 pp

Dec 2023+0.6 pp

Mar 2024−0.7 pp

Jun 2024−3.0 pp

Sep 2024+0.1 pp

Dec 2024−0.4 pp

Mar 2025+2.9 pp

Jun 2025+6.8 pp

Sep 2025+1.7 pp

Dec 2025+0.6 pp

Mar 2026+0.6 pp

Jun 2026+5.3 pp

SBI Life Insurance Company Ltd · SBILIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022+3.4 pp

Mar 2023−3.4 pp

Jun 2023+0.7 pp

Sep 2023+2.5 pp

Dec 2023−1.5 pp

Mar 2024−0.7 pp

Jun 2024−2.2 pp

Sep 2024+2.1 pp

Dec 2024+2.2 pp

Mar 2025+4.3 pp

Jun 2025−2.7 pp

Sep 2025+0.1 pp

Dec 2025−2.4 pp

Mar 2026−1.0 pp

Jun 2026−2.5 pp

12 · 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 15 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; 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.

13 · 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×. ICICI Prudential Life Insurance Company Ltd is next at 0.4×. The same company also holds the lowest P/BV, at 2.89×. 8 of 8 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Life Insurance Corporation of India has the lowest comparable P/BV ÷ ROE at 0.08×, 80% below ICICI Prudential Life Insurance Company Ltd. Only 8 of 8 companies have earnings and growth steady enough for the ratio to mean anything, 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 · ICICI Prudential Life Insurance Company Ltd

Persistence0/8 recent comparable periods

Coverage8/8 companies · 68 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

2ICICI Prudential Life Insurance Company Ltd ICICIPRULI0.4

3Go Digit General Insurance Ltd GODIGIT0.4

4HDFC Life Insurance Company Ltd HDFCLIFE0.5

5SBI Life Insurance Company Ltd SBILIFE0.6

P/BVlowest P/BV

1Life Insurance Corporation of India LICI2.9

2Religare Enterprises Ltd RELIGARE2.9

3Niva Bupa Health Insurance Company Ltd NIVABUPA3.9

4ICICI Prudential Life Insurance Company Ltd ICICIPRULI5.0

5Go Digit General Insurance Ltd GODIGIT5.1

Valuation · company comparison

8/8 level · 8/8 change

All-company data · latest reported quarter

Company	P/BV ÷ ROE	P/BV	Reported
Canara HSBC Life Insurance Company Ltd CANHLIFE	0.9	8.1	Jun 2026
HDFC Life Insurance Company Ltd HDFCLIFE	0.7	7.8	Jun 2026
SBI Life Insurance Company Ltd SBILIFE	0.6	10.3	Jun 2026
Go Digit General Insurance Ltd GODIGIT	0.6	6.7	Jun 2026
ICICI Prudential Life Insurance Company Ltd ICICIPRULI	0.3	5.2	Jun 2026
Life Insurance Corporation of India LICI	—	4.2	Jun 2026
Niva Bupa Health Insurance Company Ltd NIVABUPA	—	4.1	Jun 2026
Religare Enterprises Ltd RELIGARE	—	3.6	Jun 2026

Full 20-quarter history · every available company

P/BV ÷ ROE · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20250.8

Mar 20261.2

Jun 20260.9

Go Digit General Insurance Ltd · GODIGIT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20241.5

Sep 20240.6

Dec 20240.7

Mar 20250.6

Jun 20250.7

Sep 20250.6

Dec 20250.7

Mar 20260.6

Jun 2026—

HDFC Life Insurance Company Ltd · HDFCLIFE

Sep 2021—

Dec 20211.2

Mar 20221.0

Jun 20220.5

Sep 20221.0

Dec 20221.3

Mar 20230.9

Jun 20231.1

Sep 20230.8

Dec 20230.9

Mar 20240.9

Jun 20240.8

Sep 20240.8

Dec 20240.8

Mar 20250.9

Jun 20250.9

Sep 20250.7

Dec 20250.9

Mar 20260.8

Jun 20260.7

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

Sep 2021—

Dec 20210.4

Mar 20220.6

Jun 20220.9

Sep 20221.1

Dec 20220.8

Mar 20230.8

Jun 20230.8

Sep 20231.0

Dec 20230.8

Mar 20241.0

Jun 20241.3

Sep 20241.3

Dec 20240.9

Mar 20250.6

Jun 20250.6

Sep 20250.7

Dec 20250.8

Mar 20260.5

Jun 20260.3

SBI Life Insurance Company Ltd · SBILIFE

Sep 2021—

Dec 20211.2

Mar 20220.7

Jun 20220.4

Sep 20221.1

Dec 20220.8

Mar 20231.0

Jun 20230.4

Sep 20230.8

Dec 20230.9

Mar 20241.1

Jun 20240.5

Sep 20240.9

Dec 20240.7

Mar 20250.7

Jun 20250.6

Sep 20250.7

Dec 20251.0

Mar 20260.8

Jun 20260.6

P/BV · reported quarter history

Canara HSBC Life Insurance Company Ltd · CANHLIFE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20259.0

Mar 20268.5

Jun 20268.1

Go Digit General Insurance Ltd · GODIGIT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20249.0

Sep 20247.4

Dec 20246.4

Mar 20255.7

Jun 20257.3

Sep 20257.5

Dec 20256.9

Mar 20266.5

Jun 20266.7

HDFC Life Insurance Company Ltd · HDFCLIFE

Sep 202117.0

Dec 202114.8

Mar 202211.8

Jun 20227.6

Sep 20229.1

Dec 20229.9

Mar 20236.7

Jun 202310.3

Sep 202310.1

Dec 202310.2

Mar 20249.6

Jun 20248.7

Sep 202410.2

Dec 20248.6

Mar 20259.3

Jun 202510.8

Sep 20259.7

Dec 20259.5

Mar 20267.5

Jun 20267.8

ICICI Prudential Life Insurance Company Ltd · ICICIPRULI

Sep 202111.4

Dec 20218.9

Mar 20227.7

Jun 20227.7

Sep 20227.8

Dec 20226.7

Mar 20236.8

Jun 20237.8

Sep 20237.7

Dec 20237.6

Mar 20247.9

Jun 20247.9

Sep 202410.1

Dec 20248.2

Mar 20257.0

Jun 20257.8

Sep 20256.8

Dec 20257.4

Mar 20265.7

Jun 20265.2

Life Insurance Corporation of India · LICI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 202216.1

Mar 202313.2

Jun 20238.7

Sep 20238.9

Dec 20238.5

Mar 20249.3

Jun 202413.5

Sep 20247.8

Dec 20245.8

Mar 20255.2

Jun 20257.3

Sep 20254.3

Dec 20253.8

Mar 20263.4

Jun 20264.2

Niva Bupa Health Insurance Company Ltd · NIVABUPA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20256.9

Jun 20254.0

Sep 20253.9

Dec 20253.7

Mar 20263.4

Jun 20264.1

Religare Enterprises Ltd · RELIGARE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022-4.2

Mar 2023-4.7

Jun 2023-5.8

Sep 20233.8

Dec 20233.1

Mar 20243.1

Jun 20243.8

Sep 20244.3

Dec 20243.8

Mar 20253.2

Jun 20253.1

Sep 20253.3

Dec 20252.8

Mar 20262.5

Jun 20263.6

SBI Life Insurance Company Ltd · SBILIFE

Sep 202111.6

Dec 202110.7

Mar 20229.8

Jun 20229.3

Sep 202210.2

Dec 202210.1

Mar 20239.5

Jun 20239.7

Sep 20239.7

Dec 202310.3

Mar 202410.4

Jun 202411.5

Sep 202412.1

Dec 20248.7

Mar 20259.3

Jun 202512.4

Sep 202510.1

Dec 202511.1

Mar 20269.7

Jun 202610.3

14 · 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. 3 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.
3 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.

15 · 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 2026-09-11. 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 2026-09-11 · weekly price and relative-strength history

Derived metricsGrowth, changes 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 standing5 cross-checked · 0 unverified · 3 withheld, of 8 graded companies.

How a second data feed is admitted, and what happens when it disagrees

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.

16 · questions investors ask, short speakable answers

Finance - Insurance company comparison FAQs

These 23 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 2026-09-11. Nothing here is estimated, and none of it is a recommendation.

Is the Finance - Insurance sector outperforming NIFTY 500?

Finance - Insurance has underperformed NIFTY 500 by 5.5% over 52 weeks and 0.7% over 13 weeks. 2 of 7 covered companies beat NIFTY on Mansfield relative strength, while 3 of 7 beat the sector itself.

Which Finance - Insurance company is largest by income?

Life Insurance Corporation of India leads with income of ₹9,94,088 crore, based on 8 of 8 comparable companies through Jun 2026.

Which Finance - Insurance company is growing fastest?

Niva Bupa Health Insurance Company Ltd has the fastest current income growth at 27.9%, 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 72.1/100 with 66.6% 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 whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Finance - Insurance comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns 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.

Is there a Nifty Finance - Insurance index?

NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Finance - Insurance, this page builds its own equal-weight basket of 8 listed Finance - Insurance companies — one company, one vote, regardless of market value — so no single large company dominates the reading. 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 ICICI Prudential Life 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 ₹9,94,088 crore, ahead of SBI Life Insurance Company Ltd at ₹1,19,656 crore. That covers 8 of 8 companies with comparable reporting through Jun 2026.

Which Finance - Insurance company makes the most profit?

Life Insurance Corporation of India earns the most, at ₹60,055 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?

Go Digit General Insurance Ltd leads on return on assets at 2.2%, across 5 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×. All 8 companies qualify for the ratio comparison. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Finance - Insurance sector beating the market?

Finance - Insurance has underperformed NIFTY 500 by 5.5% over the last 52 weeks and 0.7% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 2 of 7 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Finance - Insurance stock has the strongest price momentum?

Religare Enterprises 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 72.1 out of 100 with 66.6% evidence confidence, from 22.7 points on growth and earnings, 16.5 on capital efficiency, 20 on valuation and 12.9 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, 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 ₹9,25,546 crore of combined market value. Life Insurance Corporation of India is the largest at ₹5,11,186 crore, about 55% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-09-17.

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 5.1×, 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 2026-09-17.

How is the Finance - Insurance sector performing?

2 of the 7 covered Finance - Insurance companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 5.5% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-09-17.

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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