Shares of general and life insurance companies were trading on a mixed note ahead of Union Budget 2025 to be presented in Parliament today. ICICI Lombard General Insurance Company stock climbed 0.55 per cent to Rs 1867 on BSE. Shares of ICICI Prudential Life Insurance Company slipped 0.25% at Rs 615.05.
HDFC Life Insurance Company Ltd surged 0.13 per cent at Rs 638.95. SBI Life Insurance Company Ltd traded flat at Rs 1481 against the previous close of Rs 1484.35.
Life Insurance Corporation of India added 0.96 per cent to Rs 853.55 against the previous close of Rs 845.40.
The Budget is anticipated to bring forth reforms to bolster the expansion and reach of the insurance industry in India.
Insurers are expecting additional tax exemptions for protection and health insurance products, and adjustments to the new tax regime in this year’s Union Budget. These measures are expected to enhance affordability and boost sector growth and penetration.