{"id":282,"date":"2019-07-29T09:14:35","date_gmt":"2019-07-29T09:14:35","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=282"},"modified":"2022-01-28T08:15:21","modified_gmt":"2022-01-28T08:15:21","slug":"property-fire-engineering","status":"publish","type":"page","link":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/indian-non-life-insurance-industry-analysis\/section-04-segmentwise-business-highlights\/property-fire-engineering\/","title":{"rendered":"4.6 &#8211; Property (Fire + Engineering)"},"content":{"rendered":"\n<p>Property insurance business comprises fire and engineering segments. This class of business was de-tariffed on 1<sup>st<\/sup>  April, 2007.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-columns w-two-one\">\n\t<div class=\"wp-block-column_2\">\n\t\t<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 4.6.1<\/span>GDPI - Property Insurance<\/h3><div id=\"Chart_187\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        stacked_column_chart(\"Chart_187\", {\"stacklabels\":true,\"data\":{\"Fire\":{\"2011-12\":5899,\"2012-13\":7309,\"2013-14\":8182,\"2014-15\":8938,\"2015-16\":9665,\"2016-17\":10357,\"2017-18\":11527,\"2018-19\":12512,\"2019-20\":16649,\"2020-21\":20101},\"Engineering\":{\"2011-12\":2352,\"2012-13\":2559,\"2013-14\":2611,\"2014-15\":2458,\"2015-16\":2469,\"2016-17\":2387,\"2017-18\":2287,\"2018-19\":2542,\"2019-20\":2706,\"2020-21\":2970}},\"Title\":\"GDPI - Property Insurance\",\"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\":[\"#d56031\",\"#7c7c7c\"]});\n                    });\n                <\/script>\n\t<\/div>\n\t<div class=\"wp-block-column_1\">\n\t\t<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;\"> Table 4.6.1<\/span>Property<\/h3><table width=\"100%\" class=\"\">    <tbody>        <tr>                    <td>                        2020-21                    <\/td>                    <td>                        Value                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Policies                    <\/td>                    <td>                              7,041,586                    <\/td>        <\/tr>        <tr>                    <td>                            Premium  (in Cr)                    <\/td>                    <td>                              23,071                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Claims Reported                    <\/td>                    <td>                              184,918                     <\/td>        <\/tr>        <tr>                    <td>                            No. Of Paid Claims                    <\/td>                    <td>                              158,670                     <\/td>        <\/tr>        <tr>                    <td>                            Amt of Paid Claims (in Cr)                    <\/td>                    <td>                              7,663                     <\/td>        <\/tr>    <\/tbody><\/table>\n                <span style=\"margin-left: 139px;font-size:13px\"> <i>Premium booked in India considered<\/i><\/span>\n\t<\/div>\n<\/div>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em><strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<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 Net Incurred Claims ratio for property insurance has been consistently within the range of 60% and 90% during the observed period.<\/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 4.6.2<\/span>Gross & Net Incurred Claims Ratio - Property<\/h3><div id=\"Chart_188\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_188\", {\"unit\":\"%\",\"data\":{\"Gross Incurred Claims Ratio\":{\"2011-12\":\"73.8\",\"2012-13\":\"45.6\",\"2013-14\":\"83.7\",\"2014-15\":\"84.7\",\"2015-16\":\"69.5\",\"2016-17\":\"79.1\",\"2017-18\":\"64.9\",\"2018-19\":\"73.7\",\"2019-20\":\"61.3\",\"2020-21\":\"54.4\"},\"Net Incurred Claims Ratio\":{\"2011-12\":\"89.3\",\"2012-13\":\"62\",\"2013-14\":\"75.8\",\"2014-15\":\"69.3\",\"2015-16\":\"73\",\"2016-17\":\"80.1\",\"2017-18\":\"74.4\",\"2018-19\":\"83.4\",\"2019-20\":\"78.3\",\"2020-21\":\"69.7\"}},\"Title\":\"Gross & Net Incurred Claims Ratio - Property\",\"xTitle\":\"Year\",\"yTitle\":\"Loss 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\":[\"#f3c153\",\"#d45e31\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em><strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<p><\/p>\n\n\n\n<style>\n.highcharts-container{\nheight: 420px !important;\n}\n<\/style>\n<div class=\"wp-block-columns has-2-columns\">\n\t<div class=\"wp-block-column\">\n\t\t<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 4.6.3<\/span>Rural vs Urban Premium - Property<\/h3><div id=\"Chart_276\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        pie_chart(\"Chart_276\", {\"data\":{\"Rural Premium\":2087,\"Urban Premium\":21022},\"Title\":\"\",\"SeriesTitle\":\"Rural vs Urban Premium - Property\",\"colorCodes\":[\"#f0787e\",\"#f5a841\",\"#5ac5bc\",\"#ee65a3\",\"#f5e34b\",\"#88b3e0\",\"#a6cdee\"],\"dataLabelsFlag\":\"yes\"});\n                    });\n                <\/script>\n\t<\/div>\n\t<div class=\"wp-block-column\">\n\t\t<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 4.6.4<\/span>Channelwise GDPI - Property<\/h3><div id=\"Chart_277\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        pie_chart(\"Chart_277\", {\"data\":{\"Individual Agents\":3946,\"Corporate Agents-Bank\":2175,\"Corporate Agents- Others\":256,\"Brokers\":10351,\"Direct Business- Internet\":2,\"Direct Business- Other than internet\":6242,\"Others\":98},\"Title\":\"\",\"SeriesTitle\":\"Channelwise GDPI - Property\",\"colorCodes\":[\"#f0787e\",\"#f5a841\",\"#5ac5bc\",\"#ee65a3\",\"#f5e34b\",\"#88b3e0\",\"#a6cdee\"],\"dataLabelsFlag\":\"yes\"});\n                    });\n                <\/script>\n\t<\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><em> <strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<em>as per source<br>data submitted by companies<\/em> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Property insurance business comprises fire and engineering segments. This class of business was de-tariffed on 1st April, 2007. Property insurance [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":272,"menu_order":5,"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\/282"}],"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=282"}],"version-history":[{"count":36,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/282\/revisions"}],"predecessor-version":[{"id":2518,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/282\/revisions\/2518"}],"up":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/272"}],"wp:attachment":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/media?parent=282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}