We expect the protection business to grow double the industry rate, said Amitabh Chaudhry, MD and CEO, HDFC Standard Life Insurance Company Limited.
“I do believe that the regulator is watching closely the prices for every product because any product out there in the market the pricing is looked by the regulator. At least from our perspective, the risk as pointed out by Jefferies is not as high as they believe, " he said.
I wish the analyst to consult managements of companies before publishing such reports, he added.
“The risks they have pointed out are more than what we believe exists. The margin impact they have pointed out is more than what the real impact would be. I agree with the secular growth story in the insurance space. I necessarily do not agree with some of the numbers they have printed,” Chaudhry further mentioned.
On business front, he said, “We have always talked about a consistent upward smooth curve and we do believe that there is a scope for margin expansion but at the same we are cognizant of the fact that we need to take some amount of money every year and invest for the future.”
He further mentioned that we expect protection business to grow over the next few years.