India: Aviation insurance takes hit as fewer airlines buy new aircraft

In India, gross premium from aviation insurance fell 6.57% year-on-year to 2.37 billion Indian rupees ($37.8 million) in the six months ended Sep. 30 2013, Financial Chronicle reported.

Nonlife insurers' aviation insurance business has been badly affected as fewer airlines are purchasing new aircraft and reinsurance rates in the foreign markets are softening.

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