The composition of Marine and Aviation Insurance business is as mentioned below.

Chart 4.7.1Marine & Aviation Insurance

Table 4.7.1Marine & Aviation

2019-20 Value
No. Of Policies 17,81,608
Premium (in Cr) 4,224
No. Of Claims Reported 2,88,982
No. Of Paid Claims 2,52,235
Amt of Paid Claims (in Cr) 2,504
Premium booked in India considered

Source: Council Compilation as per source
data submitted by companies

Aviation Premium has posted an income of greater than ₹500 Crores in 2019-20, hovering close to this prestigious benchmark for the past decade. Both the Gross Incurred Claims Ratio and Net Incurred Claims Ratio decreased over the previous year.



Chart 4.7.2Gross & Net Incurred Claims Ratio - Marine (Cargo)

Source: Council Compilation as per source
data submitted by companies



Chart 4.7.3Gross & Net Incurred Claims Ratio - Marine (Hull)

Source: Council Compilation as per source
data submitted by companies



Chart 4.7.4Gross & Net Incurred Claims Ratio - Aviation

Source: Council Compilation as per source
data submitted by companies

Chart 4.7.5Rural vs Urban Premium - Marine & Aviation

Chart 4.7.6Channelwise GDPI - Marine & Aviation

Source: Council Compilation as per source
data submitted by companies