Industry Business

  • Total Gross Direct Premium Income (India & Abroad) stood at ₹1,92,193 Crores, a 11.4% growth from FY 18-19, and a CAGR of 17.2% over a 10-year period
  • The Industry’s workforce grew by approximately 4.7% from FY 18-19, providing employment opportunities for over 6300 talented people
  • The share of Gross Direct Premium Income via Brokers has grown by approximately 17%. Premium sourced via Direct Channels, which include e-Business, has also shown a strong growth of close to ₹5,000 Crores.
  • Gross commissions also exhibited continued uptrends, with growth figures reaching approximately 13%
  • Although the number of claims in FY 19-20 has grown versus FY 18-19, the Industry has managed to maintain a Gross Incurred Claims Ratio of a healthy 80% for the titular Financial Year
  • Industry Investment Incomes have also posted continued growth:
    • Investment income pertaining to policyholders was ₹23,134 Crores in FY 19-20, representing a CAGR of around 13% p.a over a 10-year period.
    • Investment income pertaining to shareholders was  ₹5,629 Crores in FY 19-20, representing at CAGR of 5.8% p.a. over a 10-year period.