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.
Chart 3.8.1Underwriting Results (Split by Type of Insurers)
Source: Council Compilation as per source
data submitted by companies
Chart 3.8.2Underwriting Surplus/Deficits (2012-2022)
Source: Council Compilation as per source
data submitted by companies
Chart 3.8.3Underwriting Results (2012-2022)
User Guide: Please keep cursor to the right to see exact values on the above graph. Source: Council Compilation as per source data submitted by companies
Chart 3.8.4Underwriting Loss as percentage of NEP
Source: Council Compilation as per source
data submitted by companies
Combined ratio, after seeing a decline for two years, has increased again with respect to last year.
Chart 3.8.5Combined Ratio - Overall
Source: Council Compilation as per source
data submitted by companies
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). As compared to previous year, the combined ratio has gone up to 118.8%. This could be due to full impact of covid claims.
Chart 3.8.6Combined Ratio (Split by Type of Insurer)
Source: Council Compilation as per source
data submitted by companies