Underwriting Surplus, which is calculated as Net Earned Premium less sum of Net Incurred Claims, Net Commission, Expenses of Management and Other Outgo (or income), continues to remain negative.

Chart 3.8.1Underwriting Results (Split by Type of Insurers)

Source: Council Compilation as per source
data submitted by companies

Chart 3.8.2Underwriting Surplus/Deficits (2011-2021)

Source: Council Compilation as per source
data submitted by companies

Underwriting surplus/deficit of Non-Life Insurance sector continues to be impacted by:
– Intense competition in the Personal Lines of Business
– Frequent natural calamities and disasters

Chart 3.8.3Underwriting Results (2011-2021)

User Guide: Please keep cursor to the right to see exact values on the above graph. Source: Council Compilation as per source data submitted by companies

Chart 3.8.4Underwriting Loss as percentage of NEP

Source: Council Compilation as per source
data submitted by companies

Chart 3.8.5Combined Ratio - Overall

Source: Council Compilation as per source
data submitted by companies

Combined Ratios (calculated as Net Incurred Claims Ratio + Net Commission ratio + Expenses of Management ratio) have been above 110%, reflecting adverse underwriting results (It is to be noted that underwriting results are computed before apportionment of investment income attributable to policyholder funds).

Chart 3.8.6Combined Ratio (Split by Type of Insurer)

Source: Council Compilation as per source
data submitted by companies