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Although life insurers and annuity manufacturers have done much to reduce expenses, they may have ample room for cost cutting.
The average life insurance company has reduced expenses from $170 per $1,000 in total annual premium in 2004 to $147 per $1,000 in 2006, according to consultants at Deloitte Development L.L.C., a unit of Deloitte & Touche USA L.L.P., New York.
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