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ANNUAL REPORT 2011-12 STATEMENT 27 INDIVIDUAL BUSINESS (WITHIN INDIA) – DETAILS OF FORFEITURE/ LAPSED POLICIES IN RESPECT OF INDIVIDUAL NON-LINKED BUSINESS* Insurer 2009-10 2010-11 2011-12 Lapse Ratio (Based on number of policies) Number of policies Sum Assured Number of policies Sum Assured Number of policies Sum Assured 2010-11 2011-12 In '000 ` Crores In '000 ` Crores In '000 ` Crores Per cent Per cent AEGON RELIGARE 2.45 432.40 3.52 671.16 7.88 297.39 8.7 17.4 AVIVA 37.36 377.58 33.28 1290.80 57.11 3142.86 31.0 27.8 BAJAJ ALLIANZ 160.62 10852.05 156.33 4944.94 454.58 11943.75 10.7 21.4 BHARTI AXA 17.20 1043.32 26.81 939.37 51.04 2208.42 18.9 36.1 BIRLA SUNLIFE 323.43 1577.90 666.16 2647.13 461.37 7205.80 71.6 51.0 CANARA HSBC NA NA 0.22 58.99 5.44 241.15 2.7 23.9 DLF PRAMERICA 0.81 55.14 2.16 137.90 14.24 353.13 19.4 30.6 EDELWEISS TOKIO NA NA NA NA 0.26 10.30 NA 0.0 FUTURE GENERALI 44.39 1678.78 68.33 1594.34 176.72 8578.75 24.6 48.9 HDFC STANDARD 114.09 2716.23 80.54 2777.51 73.80 3217.56 5.0 4.2 ICICI PRUDENTIAL 968.89 32353.92 547.89 16581.87 525.42 10109.19 46.5 41.9 IDBI FEDERAL 0.05 20.94 4.70 196.81 16.14 919.25 5.6 10.7 INDIAFIRST NA NA NA NA 0.18 19.71 0.0 4.4 ING VYSYA 89.11 4706.44 76.73 1195.07 108.86 2002.84 13.9 12.3 KOTAK MAHINDRA 22.91 4812.82 25.63 1614.21 52.94 3629.14 11.6 16.0 MAX LIFE 286.84 11369.81 209.28 7677.97 240.09 7365.45 13.3 12.6 METLIFE 44.99 6689.13 79.12 15825.79 88.35 2787.82 30.7 29.8 RELIANCE 80.96 1531.28 202.12 2362.68 793.65 8200.19 15.7 38.5 SAHARA 22.49 340.19 20.66 296.17 24.03 350.54 15.5 13.8 SBI LIFE 46.49 5903.89 54.37 2035.08 109.02 3991.71 6.6 9.4 SHRIRAM LIFE 16.04 593.49 8.68 154.20 10.34 205.47 15.5 8.6 STAR UNION DAI-ICHI 0.28 6.88 4.42 70.29 14.51 220.17 17.9 23.4 TATA AIA 329.19 12971.58 297.01 5363.50 253.48 6400.60 33.4 28.3 LIC 9744.37 114767.41 11483.44 89860.47 12512.52 109789.55 4.9 5.0 * Includes Non-Linked Health Business, if any. NA: Not Applicable. A policy is treated as lapsed if the premium is not paid within the grace period (generally ranging from 15 to 30 days) Lapse Ratio during the year = Lapses (including forfeitures) during the year/Arithmetic Mean of the business inforce at the beginning and at the end of the year Source: Actuarial Report and Abstract as on 31.3.2010, 31.3.2011 & 31.3.2012 of the life insurers. 174
ANNUAL REPORT 2011-12 STATEMENT 28 PERSISTENCY OF LIFE INSURANCE POLICIES (BASED ON NUMBER OF POLICIES) Insurer 2009-2010 2010-11 2011-12 13* 25* 37* 49* 61* 13* 25* 37* 49* 61* 13* 25* 37* 49* 61* AEGON RELIGARE 54.00 NA NA NA NA 62.00 42.00 NA NA NA 57.00 54.00 30.00 NA NA AVIVA 48.00 45.00 40.00 31.00 28.00 53.00 42.00 31.00 27.00 24.00 58.00 47.00 25.00 24.00 19.00 BAJAJ ALLIANZ 52.00 81.00 14.00 51.00 63.00 56.31 80.96 18.91 61.61 72.58 54.57 85.76 19.03 51.85 43.50 BHARTI AXA 46.90 47.00 54.00 NA NA 60.00 49.00 55.00 29.00 NA 58.20 51.60 46.80 52.20 39.60 BIRLA SUNLIFE 70.18 63.55 61.70 59.86 58.64 83.00 77.00 72.00 64.00 55.00 82.00 77.00 72.00 62.00 53.00 CANARA HSBC 88.50 NA NA NA NA 85.00 91.00 NA NA NA 79.60 88.90 64.70 NA NA DLF PRAMERICA 39.00 NA NA NA NA 48.35 31.85 NA NA NA 48.94 40.96 33.16 NA NA EDELWEISS TOKIO NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA FUTURE GENERALI 35.33 NA NA NA NA 55.46 50.19 NA NA NA 47.95 48.38 51.54 NA NA HDFC STANDARD 57.26 52.42 34.05 30.00 40.13 71.97 88.17 52.35 71.73 84.56 75.35 88.11 63.50 66.38 78.40 ICICI PRUDENTIAL 72.74 87.19 37.29 55.46 72.37 75.80 88.70 30.10 46.30 65.20 77.00 86.70 31.80 50.60 65.30 IDBI FORTIS 66.74 NA NA NA NA 71.65 88.57 NA NA NA 66.38 85.91 83.55 NA NA INDIAFIRST NA NA NA NA NA 71.49 NA NA NA NA 72.43 71.56 NA NA NA ING VYSYA 57.31 50.75 34.91 21.58 42.86 67.70 51.00 26.60 23.00 16.10 65.00 55.00 38.00 36.00 38.00 KOTAK MAHINDRA 69.11 61.86 33.70 33.45 36.15 70.00 60.00 49.00 40.00 39.00 70.00 61.00 50.00 40.00 40.00 MAX LIFE 68.00 67.00 50.00 45.00 60.00 70.00 60.00 49.00 40.00 39.00 75.00 62.00 42.00 39.00 31.00 METLIFE 67.29 60.09 56.16 52.98 50.03 66.18 59.66 55.04 51.16 47.92 63.56 56.84 50.32 47.44 44.82 RELIANCE 51.23 52.29 23.21 39.72 46.57 52.70 81.50 34.40 74.50 85.80 55.90 78.10 29.10 70.30 76.70 SAHARA 71.92 60.96 49.53 52.41 63.09 73.55 63.13 44.06 45.80 49.23 73.73 65.14 43.04 39.92 41.74 SBI LIFE * 57.83 48.49 26.89 38.14 46.71 68.81 49.69 21.30 24.19 40.73 71.77 60.52 20.54 16.27 23.35 SHRIRAM 54.26 45.48 25.52 25.77 NA 51.20 45.90 23.70 26.00 26.30 51.40 82.30 39.10 80.30 84.70 STAR UNION DAI-ICHI NA NA NA NA NA 65.00 36.00 NA NA NA 65.00 56.00 49.00 NA NA TATA AIG 34.50 19.90 23.30 33.30 35.80 36.87 17.00 18.32 20.45 26.56 44.71 18.10 17.32 16.13 14.03 LIC 69.00 64.00 62.00 58.00 NA 64.00 58.00 47.00 53.00 49.00 67.00 61.00 53.00 46.00 51.00 Note * Persisitency ratio for 13 th , 25 th , 37 th , 49 th and 61 st months. NA: Not Applicable. The Analysis is based on persisitency on number of policies. It is felt that persistency on premium gets skewed if one policy with large premium gets lapsed. The above data is extracted from the public disclosures made by life insurers in accordance with <strong>IRDA</strong> Circular No. <strong>IRDA</strong>/F&I/CIR/F&A/012/01/2010 dated 28 th January, 2010. 175
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ANNUAL REPORT 2011-12 INSURANCE REG
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ANNUAL REPORT 2011-12 CONTENTS MISS
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ANNUAL REPORT 2011-12 IV.4 Promotio
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ANNUAL REPORT 2011-12 I.49 TPA Infr
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ANNUAL REPORT 2011-12 20. Solvency
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ANNUAL REPORT 2011-12 LIST OF ANNEX
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ANNUAL REPORT 2011-12 xvii
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ANNUAL REPORT 2011-12 xix
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ANNUAL REPORT 2011-12 xxi
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ANNUAL REPORT 2011-12 NAME DESIGNAT
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ANNUAL REPORT 2011-12 NAME MANISH M
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ANNUAL REPORT 2011-12 OVERVIEW The
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ANNUAL REPORT 2011-12 in 2010 and f
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ANNUAL REPORT 2011-12 Formation of
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ANNUAL REPORT 2011-12 32. The regul
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ANNUAL REPORT 2011-12 launched an e
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ANNUAL REPORT 2011-12 adherence to
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ANNUAL REPORT 2011-12 insurers unde
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ANNUAL REPORT 2011-12 factors. The
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ANNUAL REPORT 2011-12 This alone ac
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ANNUAL REPORT 2011-12 STATE-WISE LI
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ANNUAL REPORT 2011-12 Contd.... BOX
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ANNUAL REPORT 2011-12 TABLE I.4 PRE
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ANNUAL REPORT 2011-12 BOX ITEM 2 PE
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ANNUAL REPORT 2011-12 TABLE I.9 COM
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ANNUAL REPORT 2011-12 30
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ANNUAL REPORT 2011-12 I.3.27 Bajaj
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ANNUAL REPORT 2011-12 urban areas o
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ANNUAL REPORT 2011-12 TABLE I.17 CO
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ANNUAL REPORT 2011-12 38
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ANNUAL REPORT 2011-12 TABLE I.25 OP
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ANNUAL REPORT 2011-12 Number of off
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ANNUAL REPORT 2011-12 BOX ITEM 3 IN
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ANNUAL REPORT 2011-12 TABLE I.32 NE
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ANNUAL REPORT 2011-12 I.4.1.3 Anoth
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ANNUAL REPORT 2011-12 Contd.... BOX
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ANNUAL REPORT 2011-12 14(2) Sub Sec
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ANNUAL REPORT 2011-12 Obligatory ce
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ANNUAL REPORT 2011-12 Sr. No. TABLE
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ANNUAL REPORT 2011-12 BOX ITEM 6 FO
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ANNUAL REPORT 2011-12 TABLE I.43 TO
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ANNUAL REPORT 2011-12 Allied Insura
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ANNUAL REPORT 2011-12 SI. No. Name
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ANNUAL REPORT 2011-12 number of liv
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ANNUAL REPORT 2011-12 active consid
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ANNUAL REPORT 2011-12 been piloted
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ANNUAL REPORT 2011-12 TABLE I.54 GR
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ANNUAL REPORT 2011-12 Authority til
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ANNUAL REPORT 2011-12 advised that
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ANNUAL REPORT 2011-12 Insurer TABLE
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ANNUAL REPORT 2011-12 The share of
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ANNUAL REPORT 2011-12 II.2.5 There
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ANNUAL REPORT 2011-12 Total of Indi
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ANNUAL REPORT 2011-12 TABLE II.7 GR
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ANNUAL REPORT 2011-12 insurance bro
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ANNUAL REPORT 2011-12 authority, ha
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ANNUAL REPORT 2011-12 Financial C
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ANNUAL REPORT 2011-12 cent of compl
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ANNUAL REPORT 2011-12 As per the
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ANNUAL REPORT 2011-12 margin relie
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ANNUAL REPORT 2011-12 PART - III ST
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ANNUAL REPORT 2011-12 and Faculty o
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ANNUAL REPORT 2011-12 III.4.3 The i
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ANNUAL REPORT 2011-12 Authority for
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ANNUAL REPORT 2011-12 in the sector
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ANNUAL REPORT 2011-12 These factors
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ANNUAL REPORT 2011-12 the rural and
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ANNUAL REPORT 2011-12 IV.5 RESEARCH
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ANNUAL REPORT 2011-12 compare the g
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ANNUAL REPORT 2011-12 IV.8 IRDA JOU
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Page 185 and 186: ANNUAL REPORT 2011-12 LIFE INSURERS
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ANNUAL REPORT 2011-12 PRIVATE SECTO
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ANNUAL REPORT 2011-12 PRIVATE SECTO
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ANNUAL REPORT 2011-12 HEALTH INSURE
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ANNUAL REPORT 2011-12 HEALTH INSURE
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ANNUAL REPORT 2011-12 STATEMENT 68
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ANNUAL REPORT 2011-12 AGRICULTURE I
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ANNUAL REPORT 2011-12 AGRICULTURE I
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ANNUAL REPORT 2011-12 STATE-WISE NU
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ANNUAL REPORT 2011-12 STATE-WISE CO
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ANNUAL REPORT 2011-12 STATUS OF GRI
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ANNUAL REPORT 2011-12 ANNEX 1 INSUR
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ANNUAL REPORT 2011-12 FEE STRUCTURE
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ANNUAL REPORT 2011-12 ANNEX 3 (ii)
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ANNUAL REPORT 2011-12 Contd… ANNE
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ANNUAL REPORT 2011-12 LIST OF MICRO
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ANNUAL REPORT 2011-12 Contd... ANNE
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ANNUAL REPORT 2011-12 CIRCULARS/ORD
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ANNUAL REPORT 2011-12 REGULATIONS F
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