{"id":103,"date":"2019-07-18T11:37:09","date_gmt":"2019-07-18T11:37:09","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=103"},"modified":"2022-02-17T07:49:21","modified_gmt":"2022-02-17T07:49:21","slug":"premium","status":"publish","type":"page","link":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/indian-non-life-insurance-industry-analysis\/section-03-industry-business-highlights\/premium\/","title":{"rendered":"3.4 &#8211; Premium"},"content":{"rendered":"\n<h4>Gross Direct Premium (GDPI)<\/h4>\n\n\n\n<p><\/p>\n\n\n\n<p>The Non-Life Insurance Industry in India has recorded CAGR of 14.64% in the period 2011-12 to 2020-21. The premium income, which was \u20b958,090 Crores in 2011-12, has increased substantially to \u20b91,98,715 Crores in 2020-21. Motor and Health segments remain the leading drivers of Premium growth.<\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.4.1<\/span>Gross Direct Premium Income - Indian Business<\/h3><div id=\"Chart_12\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        column_chart(\"Chart_12\", {\"unit\":\"\",\"data\":{\"GDPI\":{\"2011-12\":58090,\"2012-13\":69186,\"2013-14\":77525,\"2014-15\":84686,\"2015-16\":96379,\"2016-17\":128128,\"2017-18\":150662,\"2018-19\":169448,\"2019-20\":188916,\"2020-21\":198715}},\"Title\":\"Gross Direct Premium Income - Indian Business\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crores\",\"xAxisData\":{\"2011-12\":\"2011-12\",\"2012-13\":\"2012-13\",\"2013-14\":\"2013-14\",\"2014-15\":\"2014-15\",\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\"},\"colorCodes\":[\"#8be142\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.4.2<\/span>Growth Rate in Premium<\/h3><div id=\"Chart_13\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_13\", {\"unit\":\"\",\"data\":{\"GDPI Growth\":{\"2011-12\":\"23.73\",\"2012-13\":\"19.1\",\"2013-14\":\"12.05\",\"2014-15\":\"9.24\",\"2015-16\":\"13.81\",\"2016-17\":\"32.94\",\"2017-18\":\"17.59\",\"2018-19\":\"12.47\",\"2019-20\":\"11.49\",\"2020-21\":\"5.19\"}},\"Title\":\"Growth Rate in Premium\",\"xTitle\":\"Year\",\"yTitle\":\"Growth in Premium (%)\",\"yAxisData\":{\"2011-12\":\"2011-12\",\"2012-13\":\"2012-13\",\"2013-14\":\"2013-14\",\"2014-15\":\"2014-15\",\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\"},\"colorCodes\":[\"#8be142\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<p>The growth rate of the Non-Life Insurance Industry which had slowed down during 2012-15 but continued to remained healthy until 2017-18, is again seeing a decline.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<h4>Gross Written Premium (GWP)<\/h4>\n\n\n\n<p><\/p>\n\n\n\n<p>Gross Written Premium (both domestic and international business) grew by 11.73% on an annual average basis from \u20b968,249 Crores in 2011-12 to \u20b9206,906 Crores in 2020-21 with a CAGR of 13.11%.  <\/p>\n\n\n\n<p>ECGC and AIC are categorized separately for the purpose of analysis.<\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.4.3<\/span>Gross Written Premium<\/h3><div id=\"Chart_28\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        stacked_column_chart(\"Chart_28\", {\"stacklabels\":true,\"data\":{\"General Insurers\":{\"2011-12\":63007.56,\"2012-13\":68096.39,\"2013-14\":76082.63,\"2014-15\":83261,\"2015-16\":93315.22,\"2016-17\":120065.53,\"2017-18\":139158.98,\"2018-19\":156373.36,\"2019-20\":170272.01,\"2020-21\":178007},\"Standalone Health Insurers\":{\"2011-12\":1659.98,\"2012-13\":1726.27,\"2013-14\":2245.14,\"2014-15\":3001,\"2015-16\":4238.6,\"2016-17\":5855.91,\"2017-18\":8333.24,\"2018-19\":11371.73,\"2019-20\":14492.91,\"2020-21\":15783},\"AIC\":{\"2011-12\":2576.85,\"2012-13\":3297.42,\"2013-14\":3395.01,\"2014-15\":2739.7,\"2015-16\":3521.22,\"2016-17\":6988.26,\"2017-18\":7896.35,\"2018-19\":6906.56,\"2019-20\":9361.2,\"2020-21\":12053},\"ECGC\":{\"2011-12\":1004.83,\"2012-13\":1157.25,\"2013-14\":1303.73,\"2014-15\":1362.4,\"2015-16\":1320.73,\"2016-17\":1267.62,\"2017-18\":1240.42,\"2018-19\":1247.54,\"2019-20\":1075.47,\"2020-21\":1062}},\"Title\":\"Gross Written Premium\",\"xTitle\":\"Year\",\"yTitle\":\"Rs in Crore\",\"yAxisData\":{\"2011-12\":\"2011-12\",\"2012-13\":\"2012-13\",\"2013-14\":\"2013-14\",\"2014-15\":\"2014-15\",\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\"},\"colorCodes\":[\"#e40072\",\"#184270\",\"#db5a00\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<p><\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.4.4<\/span>GWP share % by Type of Insurers<\/h3><div id=\"Chart_29\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        stacked_column_chart(\"Chart_29\", {\"stacklabels\":\"false\",\"data\":{\"General Insurers\":{\"2011-12\":92.32,\"2012-13\":91.68,\"2013-14\":91.64,\"2014-15\":92.14,\"2015-16\":91.13,\"2016-17\":89.48,\"2017-18\":88.85,\"2018-19\":88.9,\"2019-20\":87.2,\"2020-21\":86},\"Standalone Health Insurers\":{\"2011-12\":2.43,\"2012-13\":2.32,\"2013-14\":2.7,\"2014-15\":3.32,\"2015-16\":4.14,\"2016-17\":4.36,\"2017-18\":5.32,\"2018-19\":6.46,\"2019-20\":7.4,\"2020-21\":7.6},\"AIC\":{\"2011-12\":3.78,\"2012-13\":4.44,\"2013-14\":4.09,\"2014-15\":3.03,\"2015-16\":3.44,\"2016-17\":5.21,\"2017-18\":5.04,\"2018-19\":3.93,\"2019-20\":4.8,\"2020-21\":5.8},\"ECGC\":{\"2011-12\":1.47,\"2012-13\":1.56,\"2013-14\":1.57,\"2014-15\":1.51,\"2015-16\":1.29,\"2016-17\":0.94,\"2017-18\":0.79,\"2018-19\":0.71,\"2019-20\":0.55,\"2020-21\":0.55}},\"Title\":\"GWP share % by Type of Insurers\",\"xTitle\":\"Year\",\"yTitle\":\"% to Total GWP\",\"yAxisData\":{\"2011-12\":\"2011-12\",\"2012-13\":\"2012-13\",\"2013-14\":\"2013-14\",\"2014-15\":\"2014-15\",\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\"},\"colorCodes\":[\"#e40072\",\"#184270\",\"#db5a00\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<p>The split of Rural and Urban in different Segments is shown below. Values shown are \u20b9 in Crores.<\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.4.5<\/span>GDPI - Rural vs Urban<\/h3><div id=\"Chart_30\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_30\", {\"unit\":\"(\\u20b9 in Crores)\",\"data\":{\"Rural\":{\"2015-16\":21330,\"2016-17\":28611,\"2017-18\":37191,\"2018-19\":34577,\"2019-20\":42489,\"2020-21\":44741},\"Urban\":{\"2015-16\":75049,\"2016-17\":99518,\"2017-18\":113471,\"2018-19\":134871,\"2019-20\":146428,\"2020-21\":153974}},\"Title\":\"GDPI - Rural vs Urban\",\"xTitle\":\"Year\",\"yTitle\":\"GDPI (\\u20b9 in Crores)\",\"yAxisData\":{\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\"},\"colorCodes\":[\"#f5ce44\",\"#f45400\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<p><\/p>\n\n\n\n<h4>Net Written Premium &amp; Net Earned Premium (NWP &amp; NEP)<\/h4>\n\n\n\n<p><\/p>\n\n\n\n<p>Net Written premium (NWP) grew at a CAGR of 13.28% from \u20b947,852 Crores in 2011-12 to \u20b9147,038 Crores in 2020-21. Similarly, Net Earned Premium (NEP) grew at a CAGR of 13.90% from \u20b942,641 Crores in 2011-12 to \u20b9137,620 Crores in 2020-21.  NEP as a percentage of NWP has been consistently above 89% for the period under review.<\/p>\n\n\n\n<p><\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.4.6<\/span>Net Written Premium & Net Earned Premium Growth<\/h3><div id=\"Chart_32\"><\/div><script type=\"text\/javascript\">\n                     jQuery(document).ready(function () {\n                         multiple_column_line(\"Chart_32\",{\"data\":{\"Net Written Premium\":{\"2011-12\":47852,\"2012-13\":55890,\"2013-14\":64864,\"2014-15\":71300,\"2015-16\":81450,\"2016-17\":94178,\"2017-18\":107411,\"2018-19\":120386,\"2019-20\":130187,\"2020-21\":147038},\"Net Earned Premium\":{\"2011-12\":42641,\"2012-13\":51226,\"2013-14\":60010,\"2014-15\":67428,\"2015-16\":75878,\"2016-17\":88725,\"2017-18\":100453,\"2018-19\":113334,\"2019-20\":126178,\"2020-21\":137620}},\"Title\":\"Net Written Premium & Net Earned Premium Growth\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crore\",\"zTitle\":\"NEP as % of NWP\",\"yAxisData\":{\"2011-12\":\"2011-12\",\"2012-13\":\"2012-13\",\"2013-14\":\"2013-14\",\"2014-15\":\"2014-15\",\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\"},\"zAxisData\":{\"2011-12\":89.1,\"2012-13\":91.7,\"2013-14\":92.5,\"2014-15\":94.6,\"2015-16\":93.2,\"2016-17\":94.2,\"2017-18\":93.5,\"2018-19\":94.1,\"2019-20\":96.9,\"2020-21\":93.6},\"colorLine\":\"#62d445\",\"colorCodes\":{\"1\":\"#16416b\",\"2\":\"#3fa5e7\"}});\n                     });\n                 <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gross Direct Premium (GDPI) The Non-Life Insurance Industry in India has recorded CAGR of 14.64% in the period 2011-12 to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":529,"menu_order":4,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width.php","meta":[],"_links":{"self":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/103"}],"collection":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/comments?post=103"}],"version-history":[{"count":47,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/103\/revisions"}],"predecessor-version":[{"id":2819,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/103\/revisions\/2819"}],"up":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/529"}],"wp:attachment":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/media?parent=103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}