A Top Indian Insurer Is Betting That Equities Rout Will End Soon
- Bajaj Allianz Life is drawing down cash pile to load up stocks
- Rate hikes to be done over the next couple of months: Reddy
This article is for subscribers only.
Bajaj Allianz Life Insurance Co. is drawing down its cash pile to load up Indian stocks on a bet that the equity market rout will bottom out soon.
The insurer, with assets of about 850 billion rupees ($11 billion), has cut its cash levels by 300 basis points in the last three months and will deploy the remaining reserves in the coming months, Sampath Reddy, chief investment officer at Bajaj Allianz, said in an interview.