{"id":175,"date":"2019-07-23T07:52:55","date_gmt":"2019-07-23T07:52:55","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=175"},"modified":"2019-12-11T06:20:33","modified_gmt":"2019-12-11T06:20:33","slug":"underwriting-surplus-deficit","status":"publish","type":"page","link":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/indian-non-life-insurance-industry-analysis\/section-03-industry-business-highlights\/underwriting-surplus-deficit\/","title":{"rendered":"3.8 &#8211; Underwriting Surplus \/ Deficit"},"content":{"rendered":"\n<p>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.<\/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 3.8.1<\/span>Underwriting Results (Split by Type of Insurers)<\/h3><div id=\"Chart_43\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_negative_chart(\"Chart_43\", {\"orientation\":\"false\",\"data\":{\"2019-20\":{\"General Insurers\":-26984,\"Standalone Health Insurers\":-1637,\"Specialised Insurers\":-696},\"2020-21\":{\"General Insurers\":-22653,\"Standalone Health Insurers\":-2310,\"Specialised Insurers\":-342}},\"Title\":\"Underwriting Results (Split by Type of Insurers)\",\"xTitle\":\"Type of Insurers\",\"yTitle\":\"Losses (\\u20b9 in Crores)\",\"yAxisData\":{\"General Insurers\":\"General Insurers\",\"Standalone Health Insurers\":\"Standalone Health Insurers\",\"Specialised Insurers\":\"Specialised Insurers\"},\"colorCodes\":[\"#df117d\",\"#8f2a3a\"]});\n                    });\n                <\/script>\n\n\n\n<p style=\"text-align:right\" class=\"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 3.8.2<\/span>Underwriting Surplus\/Deficits (2011-2021)<\/h3><div id=\"Chart_170\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        column_chart(\"Chart_170\", {\"unit\":\"\",\"data\":{\"Pure underwriting losses\":{\"2011-12\":-9042,\"2012-13\":-7472,\"2013-14\":-7691,\"2014-15\":-10821,\"2015-16\":-15164,\"2016-17\":-21077,\"2017-18\":-16013,\"2018-19\":-24010,\"2019-20\":-29316,\"2020-21\":-25307}},\"Title\":\"Underwriting Surplus\\\/Deficits (2011-2021)\",\"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\":[\"#ce3330\"]});\n                    });\n                <\/script>\n\n\n\n<p style=\"text-align:right\" class=\"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>Underwriting surplus\/deficit of Non-Life Insurance sector continues to be impacted by:<br> &#8211; Intense competition in the Personal Lines of Business<br> &#8211; Frequent natural calamities and disasters<\/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 3.8.3<\/span>Underwriting Results (2011-2021)<\/h3><div id=\"Chart_266\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        area_chart(\"Chart_266\", {\"unit\":\"\",\"data\":{\"Pure underwriting losses\":{\"2011-12\":\"-9042\",\"2012-13\":\"-7472\",\"2013-14\":\"-7691\",\"2014-15\":\"-10821\",\"2015-16\":\"-15164\",\"2016-17\":\"-21077\",\"2017-18\":\"-16013\",\"2018-19\":\"-24010\",\"2019-20\":\"-29316\",\"2020-21\":\"-25307\"},\"EOM + Net Commission\":{\"2011-12\":\"14173\",\"2012-13\":\"16468\",\"2013-14\":\"18617\",\"2014-15\":\"22988\",\"2015-16\":\"26538\",\"2016-17\":\"29397\",\"2017-18\":\"30752\",\"2018-19\":\"36299\",\"2019-20\":\"47719\",\"2020-21\":\"51343\"},\"Net Incurred Claims\":{\"2011-12\":\"37739\",\"2012-13\":\"42550\",\"2013-14\":\"49164\",\"2014-15\":\"55232\",\"2015-16\":\"64495\",\"2016-17\":\"80662\",\"2017-18\":\"85650\",\"2018-19\":\"101051\",\"2019-20\":\"108390\",\"2020-21\":\"111549\"},\"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\":\"126179\",\"2020-21\":\"137620\"},\"NIC + EOM + Net Commission\":{\"2011-12\":\"51912\",\"2012-13\":\"59018\",\"2013-14\":\"67781\",\"2014-15\":\"78220\",\"2015-16\":\"91033\",\"2016-17\":\"110059\",\"2017-18\":\"116402\",\"2018-19\":\"137350\",\"2019-20\":\"156110\",\"2020-21\":\"162892\"}},\"Title\":\"Underwriting Results (2011-2021)\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crores\",\"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\":[\"#cf3530\",\"#066095\",\"#9ece44\",\"#fec456\",\"#bb6742\"]});\n                    });\n                <\/script>\n\n\n\n<p style=\"text-align:left\" class=\"has-small-font-size\"><em><strong>User Guide<\/strong>: Please keep cursor to the right to see exact values on the above graph. <span style=\"margin-left:170px;\"> <strong>Source<\/strong>: Council Compilation as per source\ndata submitted by companies<span><\/em><\/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 3.8.4<\/span>Underwriting Loss as percentage of NEP<\/h3><div id=\"Chart_45\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_45\", {\"unit\":\"\",\"data\":{\"UW Loss as % NEP\":{\"2011-12\":\"-20.2\",\"2012-13\":\"-13.6\",\"2013-14\":\"-11.8\",\"2014-15\":\"-16\",\"2015-16\":\"-20\",\"2016-17\":\"-22.8\",\"2017-18\":\"-14.9\",\"2018-19\":\"-20.2\",\"2019-20\":\"-22.2\",\"2020-21\":\"-17.4\"}},\"Title\":\"Underwriting Loss as percentage of NEP\",\"xTitle\":\"Year\",\"yTitle\":\"U\\\/W Lossess (%)\",\"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\":[\"#d53b4c\"]});\n                    });\n                <\/script>\n\n\n\n<p style=\"text-align:right\" class=\"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 3.8.5<\/span>Combined Ratio - Overall<\/h3><div id=\"Chart_44\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_44\", {\"unit\":\"\",\"data\":{\"Combined ratio\":{\"2011-12\":\"117\",\"2012-13\":\"111.6\",\"2013-14\":\"110.6\",\"2014-15\":\"114.2\",\"2015-16\":\"117.6\",\"2016-17\":\"122\",\"2017-18\":\"113.9\",\"2018-19\":\"119.3\",\"2019-20\":\"122.6\",\"2020-21\":\"116\"}},\"Title\":\"Combined Ratio - Overall\",\"xTitle\":\"Year\",\"yTitle\":\"Combined Ratio (%)\",\"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\":[\"#d38f62\"]});\n                    });\n                <\/script>\n\n\n\n<p style=\"text-align:right\" class=\"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>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).<\/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 3.8.6<\/span>Combined Ratio (Split by Type of Insurer)<\/h3><div id=\"Chart_46\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_46\", {\"orientation\":\"false\",\"unit\":\"\",\"data\":{\"2019-20\":{\"General Insurers\":122.2,\"Standalone Health Insurers\":108.4,\"Specialised Insurers\":119.4,\"Overall\":122.6},\"2020-21\":{\"General Insurers\":118.8,\"Standalone Health Insurers\":120.1,\"Specialised Insurers\":101.8,\"Overall\":116}},\"Title\":\"Combined Ratio (Split by Type of Insurer)\",\"xTitle\":\"Type of Insurers\",\"yTitle\":\"Combined Ratio (%)\",\"yAxisData\":{\"General Insurers\":\"General Insurers\",\"Standalone Health Insurers\":\"Standalone Health Insurers\",\"Specialised Insurers\":\"Specialised Insurers\",\"Overall\":\"Overall\"},\"colorCodes\":[\"#8c736f\",\"#e68136\"]});\n                    });\n                <\/script>\n\n\n\n<p style=\"text-align:right\" class=\"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>Underwriting Surplus, which is calculated as Net Earned Premium less sum of Net Incurred Claims, Net Commission, Expenses of Management [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":529,"menu_order":8,"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\/175"}],"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=175"}],"version-history":[{"count":20,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/175\/revisions"}],"predecessor-version":[{"id":1733,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/175\/revisions\/1733"}],"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=175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}