India's insurance is one of Asia's better long-term stories: Chris Wood

In September 2019, he had bought SBI Life Insurance and HDFC Life Insurance, which now account for 5 per cent and 4 per cent weight in the above-mentioned portfolio

Christopher Wood, global head of equity strategy at Jefferies has maintained a ‘reduced overweight’ rating on India in his ex-Japan portfolio for long-only investors. The rating comes after the presentation of the Union Budget on February 1, which according to him, lacked measures to prop-up the economy.

Despite the introduction of optional personal income-tax (I-T) structure that lowered rates and took away most exemptions and deductions that individual taxpayers could avail, including that for life insurance products, Wood remains bullish on the Indian insurance sector.

“Amidst the relative lack of urgency on economic policy, a cynic might wonder whether the