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 |
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