Net Retention of Insurance Companies (After Cessions to Reinsurers)

The Gross Written and Net Written Premiums during the period 2013-14 to 2022-23 are as follows:

Chart 5.1.1Gross Written premium & Net Written Premium

Source: Council Compilation as per source data submitted by companies

Steady growth of Gross Written Premium and Net Written Premium over the past 10 years has been observed since 2013.

Table 5.1.1 Gross Written Premium and Net Written Premium, Retention Ratio

	2020-21			2021-22			2022-23
		GWP	NWP	Retention Ratio	GWP	NWP	Retention Ratio	GWP	NWP	Retention Ratio
Private Sector	1,00,410	62,900	62.6%	1,12,621	71,722	63.7%	1,35,295	87,069	64.4%
Public Sector	77,598	64,697	83.4%	81,191	67,639	83.3%	89,024	74,105	83.2%
Standalone Health	15,783	12,224	77.5%	20,934	18,338	87.6%	26,340	23,650	89.8%
Specialized Company	13,115	7,216	55.0%	15,047	7,815	51.9%	15,932	7,781	48.8%
Total	2,06,906	1,47,037	71.1%	2,29,792	1,65,514	72.0%	2,66,591	1,92,604	72.2%

Source: Council Compilation as per source data submitted by companies

Note: The ceded premium of specialized companies includes premium ceded to other Indian Non-Life insurance companies in addition to GIC Re & FRB’s

Chart 5.1.2aGWP by Type of Company

Source: Council Compilation as per source data submitted by companies

Chart 5.1.2bNWP by Type of Company

Source: Council Compilation as per source data submitted by companies