Bloomberg An employee Insurance adjusts a cushion inside a show home at Lodha Altamount, a luxury residential project developed by Lodha Developers Ltd., in Mumbai, India, on Monday, April 24, 2017.
Lodha, one of India's largest property developers, will resume marketing apartments in the 75-story Trump Tower Mumbai development in insurance and loan. the next few months, said Managing Director Abhishek Lodha.
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The lower tax rates under the alternative tax slabs will only apply to those forgoing exemptions, which include investments in certain insurance products. Insurers will be taxed on dividend income, a key source of their profit-before-tax.
Separately, the government’s Insurance plan to sell part of its stake in Life Insurance Corp. of India, which has $434 billion in total assets, may also take investors’ focus away from insurers that are already listed in the stock market.
There is a worry that tax loan insurance more benefit was an important demand driver for the Insurance industry and people will no longer ‘need’ to invest in life insurance if they switch to the new regime.
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“For private insurers, dividend income has a material contribution to overall profit-before-tax, given relatively higher shares of equities in their assets under management.
Talks around removal of exemptions over the long term could be a new overhang.”Stay equal-weight on ICICI Prudential Life Insurance Co. Life and HDFC Life Insurance Co. and overweight on SBI Life Insurance Co.Jefferies Financial Group Inc.
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The budget sent insurers a strong message to shift their sales pitch away from tax-exempt instruments and toward solutions for savings & protection.”“The removal of the dividend distribution tax benefit will affect the margins.”Edelweiss Financial Services Ltd.
Santanu Chakrabarti and Vinayak Agarwal.
