Net Retention of Insurance Companies (After Cessions to Reinsurers}

The Gross Written and Net Written Premiums during the period 2011-12 to 2020-21 are as follows:

Chart 6.1.1Gross Written Premium & Net Written premium

Source: Council Compilation



Steady growth of Gross Written Premium and Net Written Premium over the past 10 years have been observed  since 2011.
In current year, the Retention Ratio seem to recover from the downward trend since the year 2016-17.

Table 6.1.1 Gross Written Premium and Net Written Premium, Retention Ratio

2018-19 2019-20 2020-21
GWP NWP Retention Ratio GWP NWP Retention Ratio GWP NWP Retention Ratio
Private Sector 45,056 36,294 80.6% 77,909 58,666 75.3% 77,598 64,697 83.4%
Public Sector 82,527 52,634 63.8% 92,363 57,612 62.4% 1,00,410 62,900 62.6%
Standalone Health 11,368 8,911 78.4% 14,493 11,017 76.0% 15,783 12,224 77.5%
Specialized Company 8,154 2,429 29.8% 10,437 2,893 27.7% 13,115 7,216 55.0%
Total 1,47,105 1,00,268 68.2% 1,95,202 1,30,188 66.7% 2,06,906 1,47,037 71.1%



Chart 6.1.1aGross Written Premium

Chart 6.1.1bNet Written Premium

Source: Council Compilation