India's Life Insurers Expect 18% Growth in Income

India's Life Insurance Council projects an 18% growth in total premium income for the life insurance industry in the fiscal year 2009-10, reports the Economic Times.

 

Life Insurance Council secretary general SB Mathur told the Times that the industry is estimated to have generated a total premium income of Rs 2.6 lakh crore at the end of 2009-10, against Rs 2.2 lakh crore in the previous financial year, reflecting an 18% growth.

 

Quoting Mathur, the Economic Times says it may take another two to three years before all companies in the entire sector turn profitable.

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