Life insurance companies see expenses dip to 10.14%

Expenses of life insurance companies have dropped significantly to 10.14% for the period ending 31st December 2009, compared with 12.24% for the corresponding period last year, according to the data released by the Life Insurance Council (LIC). According to SB Mathur, secretary general, LIC, The drop in expenses was possible due to effective cost-cutting measures adopted by the life insurance industry, by curtailing operating expenses and rationalising their distribution channels coupled with an increase in the total premium to Rs 164, 353 crore from Rs 131, 382 crore, an increase of 25% . The renewal premium of the industry increased from ...

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