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HDFC Bank, Reliance Industries, and Infosys are the three most-owned stocks by the top five private insurance companies in the country - ICICI Prudential Life Insurance Company (ICICI Pru Life), SBI Life, HDFC Life Insurance Company, Tata AIA Life Insurance, and Kotak Mahindra Life Insurance Company (Kotak Life).
Their holdings in these three blue-chip companies are over a tenth of their equity assets under management (AUM).
Top insurers have parked nearly a fourth of their AUM in the top 10 stocks, reveals an analysis by Nuvama Institutional Equities (Nuvama).
Playing safe, insurance companies have largely restricted their top holdings to
