India life results take double-digit plunge.
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|
|Article Type:||Brief article|
|Date:||Jun 1, 2009|
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