Life insurers paid Rs 57.5k-cr claims in '08-09

Life insurance business has paid out Rs 57,500 crore in 2008-09 as claims of which death claim is estimated at around Rs 6,629 crore, according to SB Mathur, secretary general of Life Insurance Council, the official representative body of the domestic life insurers. Private-sector life insurance companies have paid death claims worth over Rs 976 crore in 2008-09. Giving a synoptic view of the performance of the insurance sector in the past fiscal, Mathur s analysis showed the sector had held up despite the financial meltdown. Death claims have risen faster than maturity claims. The rate of increase in business and ...

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