Sale of new life policies falls 10%, but premium income rises 15% in FY11

Birla Sun Life, MetLife and SBI Life led the plunge in sale of new life insurance policies last fiscal even as new premium income rose as companies and customers raised the value of insurance policies. Sales of new life insurance policies fell 10 percent to 48 million in fiscal 2011, from a year earlier, data from Insurance Regulatory & Development Authority (Irda) said. Sale of policies by the state-run Life Insurance Corporation of India fell 5% while sales of private companies tumbled 23%.

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