Property insurance business has registered a CAGR of 11.30% over the period 2013-14 to 2022-23. The proportion of engineering business has increased to ₹ 4,285 Cr. this year from ₹ 3,563 of the last year.
Chart 4.6.1GDPI - Property Insurance
Table 4.6.1Property
| 2022-23 | Value |
| No. Of Policies | 89,66,756 |
| GDPI (in Cr) | 28,217 |
| No. Of Claims Reported | 1,62,947 |
| No. Of Paid Claims | 1,43,371 |
| Amt of Paid Claims (in Cr) | 9,731 |
Source: Council Compilation as per source
data submitted by companies
The Gross and Net Incurred Claims ratio for Property insurance has been declining for the last 3 years.
Chart 4.6.2Gross & Net Incurred Claims Ratio - Property
Source: Council Compilation as per source
data submitted by companies
Chart 4.6.3Rural vs Urban Premium - Property
Source: Council Compilation as per source
data submitted by companies