Sridhar Sivaram of Enam Holdings, believes the life insurance sector is not underpenetrated, stating that the product has focused more on tax arbitrage than selling protection. Moreover, he said the country's insurance penetration is higher than countries like China, Indonesia or Brazil. He is bearish on the insurance sector in general. In contrast, Sivaram views the auto ancillary sector as stock specific, benefiting from evolutionary growth opportunities like electric vehicle production.
