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Sept 24 (Reuters) - National Financial Partners Corp said total revenue fell
about 7 percent in the first two months of the third quarter, hurt by the market
turmoil and tougher underwriting in the high net worth old-age life market,
sending its shares down as much as 13 percent.
The life insurance distributor also said its same-store revenue dropped
about 10 percent during the period, while operating expenses rose about 11
percent.
The company said it usually gets the largest portion of its quarterly
revenue and earnings in the third month of a quarter, but was unsure whether
third-quarter results will conform to this historical pattern.
National Financial shares were down $3.11 at $20.00 in morning trade on
the New York Stock Exchange.
(Reporting by Supantha Mukherjee in Bangalore; Editing by Himani Sarkar)
Keywords: NATIONALFINANCIALPARTNERS/
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