Gross Incurred Claims

Gross Incurred Claims has risen from ₹51,104 Crores in 2012-13 to ₹178,909 Crores in 2021-22 at a CAGR of 14.94%.

Chart 3.7.1Gross Incurred Claims

Source: Council Compilation as per source
data submitted by companies



The Industry Gross Incurred Claims (GIC) ratio which was 73.3% in the previous financial year has risen to 79.9% in the current financial year.

Chart 3.7.2Gross Incurred Claims to GDP Ratio - Overall

Source: Council Compilation as per source
data submitted by companies



Chart 3.7.3Gross Incurred Claims ratio - Overall (Split by Type of Insurers)

Source: Council Compilation as per source
data submitted by companies



Net Incurred Claims

Net Incurred claims has risen from ₹ 42,550 Crores in 2012-13 to ₹ 1,40,565 Crores in 2021-22, at a CAGR of 14.2%.

Chart 3.7.4Net Incurred Claims - Overall

Source: Council Compilation as per source
data submitted by companies



Chart 3.7.5Gross Incurred Claims & Net Incurred Claims Ratios

Source: Council Compilation as per source
data submitted by companies



Chart 3.7.6Net Incurred Claims ratio - Overall (Split by Type of Insurers)

Source: Council Compilation as per source
data submitted by companies



Chart 3.7.7Net Incurred Claims - Overall (Segment-wise)

Source: Council Compilation as per source
data submitted by companies