{"id":529,"date":"2019-08-13T11:18:28","date_gmt":"2019-08-13T11:18:28","guid":{"rendered":"https:\/\/www.gicouncil.in\/yearbook\/?page_id=529"},"modified":"2022-02-17T07:44:35","modified_gmt":"2022-02-17T07:44:35","slug":"section-03-industry-business-highlights","status":"publish","type":"page","link":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/indian-non-life-insurance-industry-analysis\/section-03-industry-business-highlights\/","title":{"rendered":"Section 03: Industry Business Highlights"},"content":{"rendered":"\n<div style=\"float: left; width: 80%\">\n\t<h2 style=\"font-size: 25px; font-weight: bold; line-height: 40px; padding-bottom: 50px;\"><b>Industry Business <br> Highlights<\/b><\/h2>\n\t<ul style=\"padding: 0 120px 50px 0;line-height: 35px;\">\n\t\t<li style=\"font-size: 16px;\">Total Gross Direct Premium Income (India &amp; Abroad) stood at \u20b92,02,094 Crores, a 5.15% growth from FY 2019-20, and a CAGR of 14.5% over a 10-year period<\/li>\n\t\t<li style=\"font-size: 16px;\">The Industry\u2019s workforce grew by approximately 0.9% from FY 2019-20, providing employment opportunities for over 1300 talented people<\/li>\n\t\t<li style=\"font-size: 16px;\">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 \u20b9300 Crores.<\/li>\n<li style=\"font-size: 16px;\">Gross commissions also exhibited continued uptrends, with growth figures reaching approximately 11%<\/li>\n<li style=\"font-size: 16px;\">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<\/li>\n<li style=\"font-size: 16px;\">Industry Investment Incomes have also posted continued growth:\n<ul>\n<li>Investment income pertaining to policyholders&nbsp;was \u20b923,941 Crores in FY 2020-21, representing a CAGR of around 14.5% p.a over a 10-year period.<\/li>\n<li>Investment income pertaining to shareholders was &nbsp;\u20b95,987 Crores in FY 2020-21, representing at CAGR of 8.4% p.a. over a 10-year period.<\/li>\n<\/ul>\n<\/li>\n\t<\/ul>\n<\/div>\n<div style=\"float: right; right: 0px; margin-right: 8%; position: absolute;\">\n\t<h1 style=\"font-size: 120px; text-align: right; padding-top: 80px; padding-right: 20px; font-family: fantasy; color: #ef4143;\">03<\/h1>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Industry Business Highlights Total Gross Direct Premium Income (India &amp; Abroad) stood at \u20b92,02,094 Crores, a 5.15% growth from FY [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":26,"menu_order":3,"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\/529"}],"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=529"}],"version-history":[{"count":26,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/529\/revisions"}],"predecessor-version":[{"id":2697,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/529\/revisions\/2697"}],"up":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/26"}],"wp:attachment":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/media?parent=529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}