{"id":171,"date":"2019-07-23T07:51:28","date_gmt":"2019-07-23T07:51:28","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=171"},"modified":"2024-01-31T07:38:42","modified_gmt":"2024-01-31T07:38:42","slug":"expenses-management","status":"publish","type":"page","link":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/indian-non-life-insurance-industry-analysis\/section-03-industry-business-highlights\/expenses-management\/","title":{"rendered":"3.6 &#8211; Expenses Management"},"content":{"rendered":"\n<p>Probable reason for the expenses increasing by 50% over the previous year could be the increase in salary costs and pension arrears in PSU\u2019s as a result of their wage settlements.<\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.6.1<\/span>Expenses of Management<\/h3><div id=\"Chart_35\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        dual_axis_column_line_chart(\"Chart_35\", {\"data\":{\"Expenses of Management\":{\"2013-14\":16039,\"2014-15\":20324,\"2015-16\":23062,\"2016-17\":26827,\"2017-18\":26329,\"2018-19\":30604,\"2019-20\":42045,\"2020-21\":43545,\"2021-22\":46551,\"2022-23\":70040},\"EoM as % of NEP\":{\"2013-14\":26.7,\"2014-15\":30.14,\"2015-16\":30.3,\"2016-17\":30.24,\"2017-18\":26.21,\"2018-19\":27,\"2019-20\":33.3,\"2020-21\":31.6,\"2021-22\":29.6,\"2022-23\":39.1}},\"Title\":\"Expenses of Management\",\"xTitle\":\"Year\",\"yTitle\":\"EoM (%)\",\"zTitle\":\"EOM (\\u20b9 In Crores)\",\"xAxisData\":{\"2013-14\":\"2013-14\",\"2014-15\":\"2014-15\",\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\",\"2021-22\":\"2021-22\",\"2022-23\":\"2022-23\"},\"yAxisData\":{\"Expenses of Management\":{\"2013-14\":16039,\"2014-15\":20324,\"2015-16\":23062,\"2016-17\":26827,\"2017-18\":26329,\"2018-19\":30604,\"2019-20\":42045,\"2020-21\":43545,\"2021-22\":46551,\"2022-23\":70040}},\"zAxisData\":{\"EoM as % of NEP\":{\"2013-14\":26.7,\"2014-15\":30.14,\"2015-16\":30.3,\"2016-17\":30.24,\"2017-18\":26.21,\"2018-19\":27,\"2019-20\":33.3,\"2020-21\":31.6,\"2021-22\":29.6,\"2022-23\":39.1}},\"colorCodes\":[\"#7030a0\",\"#f5a0ff\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><em><strong>Source<\/strong>: IRDAI Annual Reports for prior years and Public Disclosures of companies for 2021-22<\/em><\/p>\n\n\n\n<p>As per IRDAI (Expenses of Management) Regulations for non-life and health companies, amounts incurred as Expenses of management over and above the prescribed limits have to be borne by the Shareholders.<\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.6.2<\/span>Policyholder Expenses borne by Shareholders<\/h3><div id=\"Chart_327\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        column_chart(\"Chart_327\", {\"unit\":\"\",\"data\":{\"Amount\":{\"2017\":646.02,\"2018\":191.25,\"2019\":430.65,\"2020\":2905.99,\"2021\":2541.41,\"2022\":3459.63,\"2023\":9936.43}},\"Title\":\"Policyholder Expenses borne by Shareholders\",\"xTitle\":\"Year\",\"yTitle\":\"Amount (\\u20b9 In Crores)\",\"xAxisData\":{\"2017\":\"2017\",\"2018\":\"2018\",\"2019\":\"2019\",\"2020\":\"2020\",\"2021\":\"2021\",\"2022\":\"2022\",\"2023\":\"2023\"},\"colorCodes\":[\"#d766fa\"]});\n                    });\n                <\/script>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Probable reason for the expenses increasing by 50% over the previous year could be the increase in salary costs and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":529,"menu_order":6,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width.php","meta":[],"_links":{"self":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/pages\/171"}],"collection":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/comments?post=171"}],"version-history":[{"count":36,"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/pages\/171\/revisions"}],"predecessor-version":[{"id":3634,"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/pages\/171\/revisions\/3634"}],"up":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/pages\/529"}],"wp:attachment":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/media?parent=171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}