{"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":"2023-01-16T06:43:53","modified_gmt":"2023-01-16T06:43:53","slug":"section-03-industry-business-highlights","status":"publish","type":"page","link":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/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 \u20b92,24,002 Crores, a 10.84% growth from FY 2020-21, and a CAGR of 13.6% over a 10-year period.<\/li>\n\t\t<li style=\"font-size: 16px;\">The Industry\u2019s workforce grew by approximately 7.7% from FY 2020-21, providing employment opportunities for over 10,900 new employees.<\/li>\n\t\t<li style=\"font-size: 16px;\">The share of Gross Direct Premium Income via Brokers has grown by approximately 26.3% over the previous year.<\/li>\n<li style=\"font-size: 16px;\">Net commissions also exhibited continued uptrends, with growth figures reaching approximately 10%.<\/li>\n<li style=\"font-size: 16px;\">FY 2021-22 has seen significant increase in claims. This has affected profitability. Gross Incurred Claims ratio increased to 79.2% for the current financial year as against 73.2% in the previous 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 \u20b925,768 Crores in FY 2021-22, representing a CAGR of around 12.3% p.a over a 10-year period.<\/li>\n<li>Investment income pertaining to shareholders was &nbsp;\u20b96,578 Crores in FY 2021-22, representing at CAGR of 7.9% 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 \u20b92,24,002 Crores, a 10.84% 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\/2021-22\/wp-json\/wp\/v2\/pages\/529"}],"collection":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/comments?post=529"}],"version-history":[{"count":40,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages\/529\/revisions"}],"predecessor-version":[{"id":3468,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages\/529\/revisions\/3468"}],"up":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/pages\/26"}],"wp:attachment":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2021-22\/wp-json\/wp\/v2\/media?parent=529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}