Industry Business

  • Total Gross Direct Premium Income (India & Abroad) stood at ₹2,02,094 Crores, a 5.15% growth from FY 2019-20, and a CAGR of 14.5% over a 10-year period
  • The Industry’s workforce grew by approximately 0.9% from FY 2019-20, providing employment opportunities for over 1300 talented people
  • The share of Gross Direct Premium Income via Brokers has grown by approximately 18%. Premium sourced via Direct Channel e-Business, has also shown a growth of close to ₹300 Crores.
  • Gross commissions also exhibited continued uptrends, with growth figures reaching approximately 11%
  • Although the number of claims in FY 2020-21 has grown versus FY 2019-20, the Industry has managed to maintain a Gross Incurred Claims Ratio of a healthy 73% for the titular Financial Year
  • Industry Investment Incomes have also posted continued growth:
    • Investment income pertaining to policyholders was ₹23,941 Crores in FY 2020-21, representing a CAGR of around 14.5% p.a over a 10-year period.
    • Investment income pertaining to shareholders was  ₹5,987 Crores in FY 2020-21, representing at CAGR of 8.4% p.a. over a 10-year period.