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Worldwide premiums up.(International News)(Brief article)

By Parekh, Rupal
Publication: Business Insurance
Date: Monday, July 9 2007

Byline: RUPAL PAREKH

Growth in the life sector helped to lift worldwide insurance premiums in 2006, according to a report from Swiss Reinsurance Co.

Global insurance premiums increased by more than 5% in 2006 to $3.723 trillion. Of that figure, $2.209 trillion was attributed to life business and $1.514 trillion was attributed to nonlife business.

While profitability improved for the industry overall, growth accelerated at a faster pace in the life sector; life premiums increased by 7.7% over the prior-year period, while nonlife premiums grew by 1.5

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