Property insurance business comprises fire and engineering segments. This class of business was de-tariffed on 1st April, 2007.

Property insurance business has registered a CAGR of 11% over the period 2009-10 to 2018-19. Proportion of Engineering business has increased over the last year, which is a change of trend as it had showed a decrease in the prior years.

Chart 4.6.1GDPI - Property Insurance

Table 4.6.1Property

2018-19 Value
No. Of Policies 73,79,772
Premium (in Cr) 14,135
No. Of Claims Reported 1,52,753
No. Of Paid Claims 1,27,894
Amt of Paid Claims (in Cr) 6,930
Premium booked in India considered

Source: Council Compilation as per source
data submitted by companies



The Net Incurred Claims ratio for property insurance has been consistently within the range of 46% and 90% during the observed period.

Chart 4.6.2Gross & Net Incurred Claims Ratio - Property

Source: Council Compilation as per source
data submitted by companies

Chart 4.6.3Rural vs Urban Premium - Property

Chart 4.6.4Channelwise GDPI - Property

Source: Council Compilation as per source
data submitted by companies