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India life results take double-digit plunge.

Annual income from non-single premium life insurance policies has dropped for the first time since the sector was privatized in 2000, according to the Life Insurance Council of India.

In the financial year 2008-09. non-single premium earnings of the domestic life sector declined by 10% year-on-year to 446.88 billion Indian rupees ($9.02 billion). Single premium policies that the customer pays as a one-time lump sum continued to drop as well. down 14'% year-on-year to 247.33 billion rupees, the council said.

S.B. Mathur, council secretary-general and former chairman of Life Insurance Corp., said the premium decline was related to lower investor confidence due to the economy and uncertainty about jobs and income levels.
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Title Annotation:Briefing: Highlights From BestWeek
Author:Ng, Rebecca
Publication:Best's Review
Article Type:Brief article
Geographic Code:9INDI
Date:Jun 1, 2009
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