GDPI & Policies

Gross Direct Premium income (in India) written by non-life Insurance Industry increased from ₹ 2,20,700 Crores in 2021-22 to ₹ 2,56,984 Crores in 2022-23. Personal lines of business namely Motor, Health & Personal Accident insurance constituted more than two-thirds of the Non-Life Insurance premium. Crop insurance and credit insurance is an important segment in Other Misc class of business.

Chart 4.1.1Segment-wise share of GDPI

Source: Form I of I to X and Council Compilation

The number of policies issued increased from 26.79 Crores in 2021-22 to 30.47 Crores in 2022-23. Proportion of number of policies issued in Overall Motor has decreased from 54.2% in 2021-22 to 52.00% in 2022-23 and Other Miscellaneous classes has increased from 26.08% in 2021-22 to 29.53% in 2022-23.

Chart 4.1.2Segment-wise Policies Issued

Source: Form I of I to X and Council Compilation

Source: Form I of I to X and Council Compilation