Long runway for growth in the insurance sector, say analysts

Insurance stocks underperformed the frontline indices on Tuesday following a faded listing of state-run giant Life Insurance Corporation.

HDFC Life, ICICI Prudential, SBI Life, and state-run players -- General Insurance and New India Assurance -- were up 0.5-2 per cent. In comparison, the Sensex and Nifty gained over 2.5 per cent each.

LIC delivered a weak listing on Tuesday, weighed by volatile market conditions, and jittery investor sentiment. The shares debuted at an 8.6 per cent discount at Rs 867 apiece on the BSE, as against the issue price of Rs 949.

Analysts, however, are optimistic on the domestic insurance