Insurance stocks are down 20%, but Anil Ghelani sees a contrarian opportunity. Here’s why

The proposed changes to commissions and distribution by the Insurance Regulatory and Development Authority of India (IRDAI) have added to investor uncertainty, raising concerns over the economics of insurers, agents and digital platforms. But Anil Ghelani, executive director and head of passives and product at DSP Mutual Fund, sees no structural deterioration in the business model. With insurance demand remaining robust, he believes the sector offers a contrarian opportunity.