Life insurers' losses soar 43% in FY09

The Insurance Regulatory & Development Authority (Irda) on Wednesday said the life insurance industry reported a total loss of Rs 4,878.49 crore at the end of March 2009. This is about 43% higher than the previous year s total loss of Rs 3,412.81 crore. Out of 22 life insures, only four have reported profits. They are LIC, Kotak Mahindra, Met Life and Shriram. LIC has reported an increased profit of Rs 957.35 crore as against the previous year s profit of Rs.844.63 crore. Kotak Mahindra, for the first time, has reported a net profit of Rs 14.34 crore. During the previous year, ...

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