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FINWIRES

Lifenet Insurance's June Premiums Rise 7% to 37.8 Billion Yen

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Lifenet Insurance's (TYO:7157) annualized premium of policies-in-force rose 7% year over year to 37.8 billion yen at the end of June, according to a Friday filing on the Tokyo Stock Exchange.

Premiums from individual insurance increased 7% to 29.2 billion yen, while group credit life insurance climbed 9% to 8.61 billion yen.

The number of individual policies in force grew to 698,965 from 647,914 a year earlier. New business premiums rose to 290 million yen from 269 million yen, with new contracts increasing to 7,598 from 6,676.

Insurance claims and benefits totaled 615 million yen in June, up from 562 million yen a year earlier, while the surrender and lapse ratio fell to 5.3% from 5.4%.

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