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 12.2% over the period 2010-11 to 2019-20. 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
| 2019-20 | Value |
| No. Of Policies | 72,59,240 |
| Premium (in Cr) | 18,357 |
| No. Of Claims Reported | 1,85,146 |
| No. Of Paid Claims | 1,54,211 |
| Amt of Paid Claims (in Cr) | 7,986 |
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