Leading insurance stocks in India include ICICI Prudential Life Insurance with a 7.88% 1Y return and HDFC Life Insurance with 6.33%. However, major players like Life Insurance Corporation of India (-28.75%), New India Assurance (-44.38%), and Star Health (-37.08%) have faced significant declines, indicating volatility in the sector.
The table below shows the top insurance stocks in India by market cap and 1-year return.
| Stock Name | Close Price ₹ | Market Cap (In Cr) | 1Y Return % |
| Life Insurance Corporation Of India | 741.10 | 478517.7 | -28.75 |
| SBI Life Insurance Company Ltd | 1469.75 | 147486.57 | -4.73 |
| HDFC Life Insurance Company Ltd | 618.40 | 133908.67 | 6.33 |
| ICICI Lombard General Insurance Company Ltd | 1701.20 | 83622.41 | -1.48 |
| ICICI Prudential Life Insurance Company Ltd | 559.75 | 81904.2 | 7.88 |
| General Insurance Corporation of India | 389.90 | 68658.44 | -4.32 |
| Go Digit General Insurance Ltd | 300.35 | 27824.12 | -1.85 |
| New India Assurance Company Ltd | 151.41 | 25730.22 | -44.38 |
| Star Health and Allied Insurance Company Ltd | 364.55 | 21512.0 | -37.08 |
| Niva Bupa Health Insurance Company Ltd | 73.72 | 14086.37 | -0.41 |
Content:
- Introduction To Insurance Stocks In India by Market Cap
- Life Insurance Corporation Of India
- SBI Life Insurance Company Ltd
- HDFC Life Insurance Company Ltd
- ICICI Lombard General Insurance Company Ltd
- ICICI Prudential Life Insurance Company Ltd
- General Insurance Corporation of India
- Go Digit General Insurance Ltd
- New India Assurance Company Ltd
- Star Health and Allied Insurance Company Ltd
- Niva Bupa Health Insurance Company Ltd
- What Are Insurance Stocks In India?
- Features Of Insurance Stocks In India by Market Cap
- Best Insurance Stocks In India by Market Cap
- Top Insurance Stocks by Market Cap
- Insurance Stocks In India by Market Cap
- High Dividend Yield Insurance Stocks In India by Market Cap
- Historical Performance Of Insurance Stocks In India
- Factors To Consider When Investing In Insurance Stocks
- How To Invest In Best Insurance Stocks In India by Market Cap?
- Benefits Of Best Insurance Stocks In India
- Risks Of Investing In Insurance Stocks In India
- Who Should Invest In Insurance Stocks In India?
- FAQs – Best Insurance Stocks In India by Market Cap
Introduction To Insurance Stocks In India by Market Cap
Life Insurance Corporation Of India
Life Insurance Corporation of India. (LIC) is an insurance company headquartered in India that provides life insurance services both domestically and internationally. LIC offers a variety of insurance solutions for individuals and groups, including participating, non-participating, and unit-linked options.
The company’s product portfolio includes a range of insurance and investment products such as protection, pension, savings, investment, annuity, health, and variable products. LIC offers around 44 products, consisting of 33 individual products and 11 group products. Some of its popular insurance plans include Saral Jeevan Bima, Saral Pension, Arogya Rakshak, Dhan Rekha, and Bima Jyoti, among others.
- Close Price ( ₹ ): 741.10
- Market Cap ( Cr ): 478517.7
- 1Y Return %: -28.75
- 6M Return %: -31.33
- 1M Return %: -7.74
- % Away From 52W High: 64.89
- 5Y Avg Net Profit Margin %: 2.14
SBI Life Insurance Company Ltd
SBI Life Insurance Company Limited, headquartered in India, provides life insurance services through three distinct segments: Participating, Non-Participating, and Linked segments. The Participating segment covers various categories such as Individual Life, Individual Pension, Group Pension, and Variable Insurance.
The Non-Participating segment includes Individual Life, Individual Pension, Group Savings, OYRGTA, Group Others, Annuity, Health, and Variable Insurance. In the Linked segment, it offers Individual, Group, and Pension insurance options.
- Close Price ( ₹ ): 1469.75
- Market Cap ( Cr ): 147486.57
- 1Y Return %: -4.73
- 6M Return %: -20.08
- 1M Return %: 2.85
- 5Y CAGR %: 10.18
- % Away From 52W High: 31.72
- 5Y Avg Net Profit Margin %: 2.05
HDFC Life Insurance Company Ltd
HDFC Life Insurance Company Ltd, headquartered in India, offers a variety of individual and group insurance solutions throughout the country. Their product portfolio includes a range of insurance and investment products such as protection, pension, savings, investment, annuity, and health, catering to the long-term savings, protection, and retirement needs.
The company operates in three segments: participating products (Par) consisting of endowment, savings-cum-protection, and pension plans; non-participating products (Non-Par) including term protection, and fund-based pension plans for both individuals and groups.
- Close Price ( ₹ ): 618.40
- Market Cap ( Cr ): 133908.67
- 1Y Return %: 6.33
- 6M Return %: -16.38
- 1M Return %: 0.98
- 5Y CAGR %: 1.76
- % Away From 52W High: 23.09
- 5Y Avg Net Profit Margin %: 2.33
ICICI Lombard General Insurance Company Ltd
ICICI Lombard General Insurance Company Ltd is an insurance firm based in India that provides a wide range of coverage including motor, health, travel, home, student travel, and more.
Its product offerings encompass motor insurance, car insurance, two-wheeler insurance, health insurance, ICICI Lombard complete health insurance, health booster, personal accident insurance, international travel insurance, home insurance, marine insurance, business insurance, rural insurance, cyber insurance, third party insurance, and crop insurance.
- Close Price ( ₹ ): 1701.20
- Market Cap ( Cr ): 83622.41
- 1Y Return %: -1.48
- 6M Return %: -21.00
- 1M Return %: -6.21
- 5Y CAGR %: 6.34
- % Away From 52W High: 35.31
- 5Y Avg Net Profit Margin %: 9.70
ICICI Prudential Life Insurance Company Ltd
ICICI Prudential Life Insurance Company Limited is involved in providing life insurance, pensions, and health insurance products to both individuals and groups. The company has various segments including Par Life, Par Pension, Non-Par Life, Linked Life, Linked Pension, Linked Health, Linked Group Life, and Linked Group Pension.
The company offers a range of non-linked insurance savings plans like ICICI Guaranteed Income for Tomorrow, ICICI Pru Lakshya, ICICI Pru Future Perfect, ICICI Pru Cash Advantage, ICICI Pru Anmol Bachat, and ICICI Pru Savings Suraksha. Additionally, its protection plans comprise ICICI Pru iProtect Smart, ICICI Pru Heart/Cancer Protect, and ICICI Pru Precious Life.
- Close Price ( ₹ ): 559.75
- Market Cap ( Cr ): 81904.2
- 1Y Return %: 7.88
- 6M Return %: -24.78
- 1M Return %: -3.33
- 5Y CAGR %: 3.07
- % Away From 52W High: 42.35
- 5Y Avg Net Profit Margin %: 1.88
General Insurance Corporation of India
The General Insurance Corporation of India, headquartered in India, is a global provider of reinsurance solutions. The company assumes all or part of the risk associated with insurance policies originally issued by other insurers. It operates in both domestic and international markets.
In India, the company offers reinsurance services to local general insurance companies across various classes of business such as fire, motor, aviation, engineering, health, agriculture, marine hull, marine cargo, and life.
- Close Price ( ₹ ): 389.90
- Market Cap ( Cr ): 68658.44
- 1Y Return %: -4.32
- 6M Return %: -5.89
- 1M Return %: -5.25
- 5Y CAGR %: 16.87
- % Away From 52W High: 34.78
- 5Y Avg Net Profit Margin %: 7.48
Go Digit General Insurance Ltd
Go Digit General Insurance Ltd is an Indian general insurance company that provides a wide range of insurance products, including health, motor, travel, and property insurance. Founded in 2017, the company is known for its customer-centric approach and use of technology to simplify the insurance process.
Go Digit aims to make insurance easy, accessible, and affordable through its digital platform, offering fast policy issuance and claims settlement. The company has rapidly gained popularity, particularly among tech-savvy customers, and is backed by prominent investors like Fairfax India.
- Close Price ( ₹ ): 300.35
- Market Cap ( Cr ): 27824.12
- 1Y Return %: -1.85
- 6M Return %: -18.23
- 1M Return %: -2.91
- % Away From 52W High: 35.64
New India Assurance Company Ltd
The New India Assurance Company Limited, an India-based multinational general insurance firm, offers a variety of insurance products such as Fire, Marine, Motor, Health, Liability, Aviation, Engineering, Crop, and more.
Under its Fire insurance category, it provides policies like Bharat Sookshma Udyam Suraksha, Business Interruption, Fire Floater, and others. In the Marine insurance segment, products include Port Package Policy, Sellers Interest Insurance, and more.
- Close Price ( ₹ ): 151.41
- Market Cap ( Cr ): 25730.22
- 1Y Return %: -44.38
- 6M Return %: -43.72
- 1M Return %: -15.01
- 5Y CAGR %: 5.89
- % Away From 52W High: 104.81
- 5Y Avg Net Profit Margin %: 3.05
Star Health and Allied Insurance Company Ltd
Star Health and Allied Insurance Company Ltd is an India-based provider of health insurance services, offering coverage for health, personal accidents, and overseas travel. The company offers various insurance products including policies for travel protection, student coverage, accident trauma care, group health insurance, cardiac care, and more.
Additionally, it provides specialized insurance plans such as those tailored for rural and farmer communities, hospital cash benefits, comprehensive coverage, and family accident care.
- Close Price ( ₹ ): 364.55
- Market Cap ( Cr ): 21512.0
- 1Y Return %: -37.08
- 6M Return %: -40.39
- 1M Return %: -19.10
- % Away From 52W High: 77.48
- 5Y Avg Net Profit Margin %: -2.96
Niva Bupa Health Insurance Company Ltd
Niva Bupa Health Insurance Company Ltd is a prominent health insurance provider in India, formerly known as Max Bupa Health Insurance. A joint venture between Niva Bupa and India’s True North, the company offers a range of health insurance products, including individual and family health plans, critical illness coverage, and top-up insurance plans.
Niva Bupa focuses on delivering high-quality healthcare solutions with a customer-first approach, leveraging technology for seamless policy management, claims processing, and customer support. The company aims to improve the accessibility and affordability of healthcare for millions of Indians while enhancing customer experience through innovative insurance offerings.
- Close Price ( ₹ ): 73.72
- Market Cap ( Cr ): 14086.37
- 1Y Return %: -0.41
- 6M Return %: -0.41
- 1M Return %: -0.13
- % Away From 52W High: 48.32
- 5Y Avg Net Profit Margin %: -3.22
What Are Insurance Stocks In India?
Insurance stocks in India refer to shares of companies engaged in life, health, and general insurance services. These companies provide financial protection through policy underwriting, risk management, and investment portfolios, making them key players in the financial sector. Major insurance stocks in India include Life Insurance Corporation (LIC), HDFC Life, ICICI Lombard, SBI Life, and ICICI Prudential, which cater to diverse insurance needs.
Features Of Insurance Stocks In India by Market Cap
The key features of insurance stocks in India include their stable revenue models, long-term policy commitments, and regulatory oversight. These stocks benefit from growing financial awareness, policy penetration, and investment-linked insurance products, making them crucial in the financial sector.
1. Market Capitalization & Stability – Large-cap insurance stocks like LIC, HDFC Life, and SBI Life provide stability, while mid-cap players like Star Health and Niva Bupa offer higher growth potential but with increased market fluctuations.
2. Consistent Revenue Streams – Insurance companies generate a steady income through premium collections, investment returns, and policy renewals. Their long-term contracts ensure stable cash flows, making them resilient against short-term economic downturns.
3. Regulatory Oversight & Compliance – Insurance stocks are governed by IRDAI regulations, ensuring financial stability and policyholder protection. While strict compliance benefits consumers, regulatory changes can impact business operations and profitability.
4. Investment-Linked Growth – Many insurance companies invest premiums in stocks, bonds, and government securities, generating additional returns. The performance of insurance stocks is often linked to market trends and investment portfolio management.
Best Insurance Stocks In India by Market Cap
The table below shows the best insurance stocks in India by market cap and 6-month return.
| Stock Name | Close Price ₹ | Market Cap (In Cr) | 6M Return % |
| Niva Bupa Health Insurance Company Ltd | 73.72 | 14086.37 | -0.41 |
| General Insurance Corporation of India | 389.90 | 68658.44 | -5.89 |
| HDFC Life Insurance Company Ltd | 618.40 | 133908.67 | -16.38 |
| Go Digit General Insurance Ltd | 300.35 | 27824.12 | -18.23 |
| SBI Life Insurance Company Ltd | 1469.75 | 147486.57 | -20.08 |
| ICICI Lombard General Insurance Company Ltd | 1701.20 | 83622.41 | -21.0 |
| ICICI Prudential Life Insurance Company Ltd | 559.75 | 81904.2 | -24.78 |
| Life Insurance Corporation Of India | 741.10 | 478517.7 | -31.33 |
| Star Health and Allied Insurance Company Ltd | 364.55 | 21512.0 | -40.39 |
| New India Assurance Company Ltd | 151.41 | 25730.22 | -43.72 |
Top Insurance Stocks by Market Cap
The table below shows the top insurance stocks by market cap and 1-month return.
| Stock Name | Close Price ₹ | Market Cap (In Cr) | 1M Return % |
| SBI Life Insurance Company Ltd | 1469.75 | 147486.57 | 2.85 |
| HDFC Life Insurance Company Ltd | 618.40 | 133908.67 | 0.98 |
| Niva Bupa Health Insurance Company Ltd | 73.72 | 14086.37 | -0.13 |
| Go Digit General Insurance Ltd | 300.35 | 27824.12 | -2.91 |
| ICICI Prudential Life Insurance Company Ltd | 559.75 | 81904.2 | -3.33 |
| General Insurance Corporation of India | 389.90 | 68658.44 | -5.25 |
| ICICI Lombard General Insurance Company Ltd | 1701.20 | 83622.41 | -6.21 |
| Life Insurance Corporation Of India | 741.10 | 478517.7 | -7.74 |
| New India Assurance Company Ltd | 151.41 | 25730.22 | -15.01 |
| Star Health and Allied Insurance Company Ltd | 364.55 | 21512.0 | -19.1 |
Insurance Stocks In India by Market Cap
The table below shows the insurance stocks in India by market cap and 5-year average net profit margin.
| Stock Name | Close Price ₹ | Market Cap (In Cr) | 5Y Avg Net Profit Margin % |
| ICICI Lombard General Insurance Company Ltd | 1701.20 | 83622.41 | 9.7 |
| General Insurance Corporation of India | 389.90 | 68658.44 | 7.48 |
| New India Assurance Company Ltd | 151.41 | 25730.22 | 3.05 |
| HDFC Life Insurance Company Ltd | 618.40 | 133908.67 | 2.33 |
| Life Insurance Corporation Of India | 741.10 | 478517.7 | 2.14 |
| SBI Life Insurance Company Ltd | 1469.75 | 147486.57 | 2.05 |
| ICICI Prudential Life Insurance Company Ltd | 559.75 | 81904.2 | 1.88 |
| Star Health and Allied Insurance Company Ltd | 364.55 | 21512.0 | -2.96 |
| Niva Bupa Health Insurance Company Ltd | 73.72 | 14086.37 | -3.22 |
High Dividend Yield Insurance Stocks In India by Market Cap
The table below shows the high dividend yield insurance stocks in India by market cap.
| Stock Name | Close Price ₹ | Market Cap (In Cr) | Dividend Yield % |
| General Insurance Corporation of India | 389.90 | 68658.44 | 2.56 |
| Life Insurance Corporation Of India | 741.10 | 478517.7 | 1.32 |
| New India Assurance Company Ltd | 151.41 | 25730.22 | 1.24 |
| ICICI Lombard General Insurance Company Ltd | 1701.20 | 83622.41 | 0.65 |
| HDFC Life Insurance Company Ltd | 618.40 | 133908.67 | 0.32 |
| SBI Life Insurance Company Ltd | 1469.75 | 147486.57 | 0.18 |
| ICICI Prudential Life Insurance Company Ltd | 559.75 | 81904.2 | 0.11 |
Historical Performance Of Insurance Stocks In India
The table below shows the historical performance of insurance stocks in India and the 5-year CAGR.
| Stock Name | Close Price ₹ | Market Cap (In Cr) | 5Y CAGR % |
| General Insurance Corporation of India | 389.90 | 68658.44 | 16.87 |
| SBI Life Insurance Company Ltd | 1469.75 | 147486.57 | 10.18 |
| ICICI Lombard General Insurance Company Ltd | 1701.20 | 83622.41 | 6.34 |
| New India Assurance Company Ltd | 151.41 | 25730.22 | 5.89 |
| ICICI Prudential Life Insurance Company Ltd | 559.75 | 81904.2 | 3.07 |
| HDFC Life Insurance Company Ltd | 618.40 | 133908.67 | 1.76 |
Factors To Consider When Investing In Insurance Stocks
The factors to consider when investing in insurance stocks include financial performance, premium growth, risk management, and regulatory stability. Investors should evaluate these elements carefully, as economic conditions, claim liabilities, and investment portfolio performance influence insurance stocks.
1. Premium Growth & Market Position – A strong insurance company shows consistent premium growth and a solid market position. Investors should analyze year-on-year premium collection trends, policyholder base expansion, and overall market share for long-term profitability.
2. Claim Settlement & Loss Ratios – A company’s ability to manage claim payouts impacts profitability. Lower claim settlement ratios and efficient underwriting ensure financial stability, while high loss ratios can reduce earnings and impact stock performance.
3. Investment Portfolio & Returns – Insurance companies invest collected premiums into stocks, bonds, and other assets. A well-managed investment portfolio with stable returns strengthens financials, making it essential for investors to assess asset allocation strategies.
4. Regulatory Compliance & IRDAI Guidelines – Insurance stocks operate under IRDAI regulations, affecting capital reserves, pricing, and solvency. Changes in regulatory policies or capital requirements can impact profitability, making compliance a key factor for investors.
5. Economic Trends & Market Conditions – Macroeconomic factors like inflation, interest rates, and disposable income levels influence insurance demand. A strong economy boosts policy sales, while downturns can lead to policy cancellations and lower growth prospects.
How To Invest In Best Insurance Stocks In India by Market Cap?
With Alice Blue, you can invest in the best insurance stocks in India by market cap seamlessly and enjoy zero brokerage on equity delivery trades. Follow these simple steps to start investing:
- Open a Demat & Trading Account – Sign up on Alice Blue, complete KYC, and get your account activated.
- Add Funds – Deposit money into your trading account via UPI, Net Banking, or NEFT/RTGS.
- Search & Buy Stocks – Absolutely Free – Find your preferred stock, select Market Order (instant buy) or Limit Order (buy at your set price), and confirm the purchase.
No brokerage fees on stock purchases!
- Track & Manage Investments – Monitor your portfolio, set price alerts, and stay updated with market insights.
Benefits Of Best Insurance Stocks In India
The main advantages of investing in the best insurance stocks in India include steady revenue generation, long-term policyholder commitments, and market resilience. These stocks benefit from growing financial awareness, increasing policy penetration, and stable investment-linked returns.
1. Stable Revenue & Profitability – Insurance companies generate consistent income from premiums and investments. Their long-term policy contracts ensure steady cash flow, making them relatively resilient to short-term economic fluctuations.
2. Strong Market Growth Potential – India’s low insurance penetration provides growth opportunities. Rising awareness, government initiatives, and increasing disposable income contribute to expanding the insurance sector, ensuring long-term profitability.
3. Dividend Income & Capital Appreciation – Many established insurance companies offer attractive dividends. Investors benefit from both regular income and stock price appreciation, making these stocks suitable for wealth creation and long-term stability.
4. Diversification & Risk Mitigation – Insurance stocks offer portfolio diversification, balancing risks from market volatility. Since they are less correlated with cyclical sectors, they provide stability during economic downturns.
5. Investment Portfolio Returns – Insurance companies invest premium collections into equities, bonds, and other financial assets. Their investment strategies contribute to additional returns, enhancing financial strength and overall stock performance.
Risks Of Investing In Insurance Stocks In India
The main risk of investing in insurance stocks in India lies in regulatory changes, economic downturns, and claim liabilities. Since the industry depends on premium growth, investment returns, and risk assessment, external factors can significantly impact profitability and stock performance.
1. Regulatory & Compliance Risks – Insurance companies operate under strict IRDAI regulations. Changes in capital requirements, solvency norms, or policy structures can impact profitability, making regulatory monitoring essential for investors.
2. High Claim Settlement Ratios – A surge in claim payouts during unforeseen events like pandemics or natural disasters can weaken financial stability. Companies with high loss ratios may struggle to maintain profitability and investor confidence.
3. Investment Market Volatility – Insurance firms invest in stocks, bonds, and other assets. Market fluctuations can affect investment returns, directly impacting a company’s overall earnings and financial health.
4. Economic Slowdowns & Interest Rates – During economic downturns, lower disposable income affects policy sales. Interest rate fluctuations also impact insurers’ investment portfolios, affecting returns and financial stability.
5. Competitive Market Pressure – The insurance industry is highly competitive, with aggressive pricing strategies. Companies must balance premium pricing and profitability, as lower margins can impact long-term growth and investor returns.
Who Should Invest In Insurance Stocks In India?
Investing in insurance stocks in India is suitable for individuals who seek long-term stability, steady returns, and exposure to the financial sector. These stocks are ideal for investors looking for dividend income, growth potential, and risk diversification.
1. Long-Term Investors – Insurance stocks benefit from policy renewals and consistent premium inflows. Investors with a long-term perspective can capitalize on the sector’s steady growth and compounding earnings potential over time.
2. Dividend-Seeking Investors – Many established insurance companies provide regular dividend payouts. Investors looking for passive income alongside capital appreciation can benefit from the stable financial structure of insurance firms.
3. Risk-Tolerant Investors – Insurance stocks are influenced by regulatory changes, claim liabilities, and investment market volatility. Investors comfortable with moderate risks can find long-term opportunities in this sector.
4. Portfolio Diversifiers – Insurance stocks offer exposure to the financial sector while balancing risks from cyclical industries. Investors looking for a hedge against market fluctuations can include insurance stocks for stability.
FAQs – Best Insurance Stocks In India by Market Cap
1. What are Insurance Stocks in India?
Insurance stocks in India refer to shares of companies engaged in life, health, and general insurance services. These companies generate revenue through premium collections, investments, and underwriting profits. Major players like LIC, HDFC Life, SBI Life, and ICICI Lombard dominate the sector. These stocks offer long-term stability, steady dividends, and growth potential in India’s expanding insurance market.
2. Which Are The Best Insurance Stocks In India by Market Cap?
The Best Insurance Stocks In India by Market Cap #1: Life Insurance Corporation Of India
The Best Insurance Stocks In India by Market Cap #2: SBI Life Insurance Company Ltd
The Best Insurance Stocks In India by Market Cap #3: HDFC Life Insurance Company Ltd
The Best Insurance Stocks In India by Market Cap #4: ICICI Lombard General Insurance Company Ltd
The Best Insurance Stocks In India by Market Cap #5: ICICI Prudential Life Insurance Company Ltd
The top 5 stocks are based on market capitalization.
3. What are the top 5 Insurance Stocks?
The top 5 insurance stocks based on 5-year average net profit margin are ICICI Lombard General Insurance Company Ltd, General Insurance Corporation of India, New India Assurance Company Ltd, HDFC Life Insurance Company Ltd, and Life Insurance Corporation Of India.
4. How To Invest In Insurance Stocks In India?
To invest in insurance stocks in India, start by researching top companies like LIC, HDFC Life, and SBI Life. Open a demat and trading account with Alice Blue, analyze financial performance, and track industry trends. Diversifying investments across life, health, and general insurance stocks helps manage risks while ensuring long-term growth and steady returns.
5. Is It Good To Invest In Insurance Stocks In India?
Investing in insurance stocks in India can be a good option for long-term investors due to steady premium income, market stability, and growth potential. Leading companies like LIC, HDFC Life, and SBI Life offer strong financial performance. However, factors like regulatory changes, claim liabilities, and economic conditions should be considered before investing in this sector.
6. Is Diversification Important When Investing In Insurance Sector Stocks?
Yes, diversification is important when investing in insurance sector stocks to reduce risk and balance portfolio volatility. Investing across life, health, and general insurance companies like LIC, HDFC Life, and ICICI Lombard helps mitigate risks from regulatory changes, claim fluctuations, and market downturns, ensuring long-term stability and maximizing growth opportunities.
Here are some of the Best Stock Research Articles listed based on Top Sectors (Industries), Market Cap, and Fundamental Analysis Factors:
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

