Insurance & Capital Markets

Independent equity research on Indian insurance, asset management and capital markets stocks. Each Zumedha report values the company with methods suited to the business, including DCF, earnings power (EPV), price-to-book, price-to-embedded-value for insurers, and sum-of-the-parts, then sets a clear Buy Range, Sell Range and risk-and-catalyst view. Coverage spans health and life insurers, insurance distribution platforms, asset managers, stock exchanges, depositories, brokers and wealth managers. Earnings in this sector depend on market volumes and retail participation, assets under management, combined ratios and claims experience, regulatory changes, and market cycles, and our reports test each of these against current valuations