At the higher price band of Rs. 661 per share, SLIC's share is valued at a FY17 Price/Indian Embedded Value (P/IEV) multiple of 4.2x, which is at a premium to its only listed peer ICICI Prudential Life Insurance Company Ltd. (trading at a P/IEV of 3.8x). Below are few key observations of the issue: As per Swiss Re report, the protection gap in India stood at 92% (i.e. USD 8.5tn) in 2014, which was much higher compared to other Asian countries. This means that for USD 100 of insurance protection...