Motilal Oswal Initiates Coverage on Canara HSBC Life Insurance with Buy Rating and Rs 180 Target

Motilal Oswal Financial Services has initiated coverage on Canara HSBC Life Insurance with a 'Buy' rating and a target price of Rs 180. The brokerage cites the life insurance sector's underpenetration in India, strong bancassurance partnerships, and channel diversification as key growth drivers. MOFSL projects a 20% CAGR in annualized premium equivalent (APE) and 23% in value of new business (VNB) between FY25-28, expecting over 17% operating RoEV.