Decline of life insurance in 2009

According to the Association for Saving and Investment (ASISA) , the life turnover has shrunk by 5% in 2009 reaching 62 billion ZAR (8.3 billion USD). According to the Association's deputy manager, Peter Dempsey, the financial crisis and the economic slowdown it induced are the main reasons behind this decline. A recovery has, nonetheless, been sensed in the second semester where premiums rose by 18%.