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 12.10% over the period 2011-12 to 2020-21. Proportion of Engineering business has decreased over the last year.
Chart 4.6.1GDPI - Property Insurance
Table 4.6.1Property
| 2020-21 | Value |
| No. Of Policies | 7,041,586 |
| Premium (in Cr) | 23,071 |
| No. Of Claims Reported | 184,918 |
| No. Of Paid Claims | 158,670 |
| Amt of Paid Claims (in Cr) | 7,663 |
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 60% 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