{"id":284,"date":"2019-07-29T09:15:04","date_gmt":"2019-07-29T09:15:04","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=284"},"modified":"2024-02-16T07:23:15","modified_gmt":"2024-02-16T07:23:15","slug":"marine-aviation","status":"publish","type":"page","link":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/indian-non-life-insurance-industry-analysis\/section-04-segmentwise-business-highlights\/marine-aviation\/","title":{"rendered":"4.7 &#8211; Marine &#038; Aviation"},"content":{"rendered":"\n<p>The composition of Marine and Aviation Insurance business is as mentioned below. The premium value of marine Cargo, Hull and Aviation has increased this year.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-columns w-two-one\">\n\t<div class=\"wp-block-column_2\">\n\t\t<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 4.7.1<\/span>Marine & Aviation Insurance<\/h3><div id=\"Chart_189\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_189\", {\"unit\":\"\",\"data\":{\"Marine Cargo\":{\"2013-14\":2117,\"2014-15\":2143,\"2015-16\":2194,\"2016-17\":2190,\"2017-18\":2300,\"2018-19\":2498,\"2019-20\":2757,\"2020-21\":2435,\"2021-22\":3141,\"2022-23\":3760},\"Marine Hull\":{\"2013-14\":1185,\"2014-15\":1011,\"2015-16\":875,\"2016-17\":827,\"2017-18\":663,\"2018-19\":822,\"2019-20\":850,\"2020-21\":1050,\"2021-22\":1026,\"2022-23\":1298},\"Aviation\":{\"2013-14\":457,\"2014-15\":429,\"2015-16\":447,\"2016-17\":430,\"2017-18\":411,\"2018-19\":560,\"2019-20\":698,\"2020-21\":753,\"2021-22\":852,\"2022-23\":893}},\"Title\":\"Marine & Aviation Insurance\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crores\",\"yAxisData\":{\"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\"},\"colorCodes\":[\"#F5A0FE\",\"#D766FA\",\"#612A8A\"]});\n                    });\n                <\/script>\n\t<\/div>\n\t<div class=\"wp-block-column_1\">\n\t\t<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;\"> Table 4.7.1<\/span>Marine & Aviation<\/h3><table width=\"100%\" class=\"\">    <tbody>        <tr>                    <td>                        2022-23                    <\/td>                    <td>                        Value                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Policies                    <\/td>                    <td>                            12,63,465                    <\/td>        <\/tr>        <tr>                    <td>                            GDPI (in Cr)                    <\/td>                    <td>                            5,951                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Claims Reported                    <\/td>                    <td>                            4,11,395                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Paid Claims                    <\/td>                    <td>                            3,81,909                    <\/td>        <\/tr>        <tr>                    <td>                            Amt of Paid Claims (in Cr)                    <\/td>                    <td>                            4,004                    <\/td>        <\/tr>    <\/tbody><\/table>\n                <span style=\"margin-left: 139px;font-size:13px\"> <i><\/i><\/span>\n\t<\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><em><strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<p>For marine cargo, the NIC and GIC ratios have decreased by 5.30% and 12.40%, respectively as compare to the previous year.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\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 4.7.2<\/span>Gross & Net Incurred Claims Ratio - Marine (Cargo)<\/h3><div id=\"Chart_190\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_190\", {\"unit\":\"\",\"data\":{\"Gross Incurred Claims Ratio\":{\"2013-14\":\"69.3\",\"2014-15\":\"81.96\",\"2015-16\":\"92.67\",\"2016-17\":\"76.98\",\"2017-18\":\"58.47\",\"2018-19\":\"79.67\",\"2019-20\":\"63.7\",\"2020-21\":\"99.92\",\"2021-22\":\"85.39\",\"2022-23\":\"72.87\"},\"Net Incurred Claims Ratio\":{\"2013-14\":\"66.19\",\"2014-15\":\"64.99\",\"2015-16\":\"72.95\",\"2016-17\":\"68.2\",\"2017-18\":\"58.32\",\"2018-19\":\"77.21\",\"2019-20\":\"68.34\",\"2020-21\":\"69.33\",\"2021-22\":\"82.22\",\"2022-23\":\"76.94\"}},\"Title\":\"Gross & Net Incurred Claims Ratio - Marine (Cargo)\",\"xTitle\":\"Year\",\"yTitle\":\"Claim Ratio (%)\",\"yAxisData\":{\"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\"},\"colorCodes\":[\"#BC00BC\",\"#612A8A\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em><strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\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 4.7.3<\/span>Gross & Net Incurred Claims Ratio - Marine (Hull)<\/h3><div id=\"Chart_191\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_191\", {\"unit\":\"\",\"data\":{\"Gross Incurred Claims Ratio\":{\"2013-14\":\"26.49\",\"2014-15\":\"66.1\",\"2015-16\":\"64.5\",\"2016-17\":\"113.58\",\"2017-18\":\"43.63\",\"2018-19\":\"69.49\",\"2019-20\":\"50.19\",\"2020-21\":\"100.39\",\"2021-22\":\"116.74\",\"2022-23\":\"46.47\"},\"Net Incurred Claims Ratio\":{\"2013-14\":\"47.43\",\"2014-15\":\"81.49\",\"2015-16\":\"67\",\"2016-17\":\"125.31\",\"2017-18\":\"144.52\",\"2018-19\":\"152.34\",\"2019-20\":\"96.59\",\"2020-21\":\"103.39\",\"2021-22\":\"102.31\",\"2022-23\":\"60.17\"}},\"Title\":\"Gross & Net Incurred Claims Ratio - Marine (Hull)\",\"xTitle\":\"Year\",\"yTitle\":\"Claim Ratio (%)\",\"yAxisData\":{\"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\"},\"colorCodes\":[\"#BC00BC\",\" #7030A0\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em><strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<p>In the fiscal year 2022\u20132023, the aviation sector&#8217;s NIC ratio went up by almost 19%.<\/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 4.7.4<\/span>Gross & Net Incurred Claims Ratio - Aviation<\/h3><div id=\"Chart_192\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_192\", {\"unit\":\"\",\"data\":{\"Gross Incurred Claims Ratio\":{\"2013-14\":\"55.64\",\"2014-15\":\"74.43\",\"2015-16\":\"168.16\",\"2016-17\":\"125.09\",\"2017-18\":\"129.78\",\"2018-19\":\"154.26\",\"2019-20\":\"80.23\",\"2020-21\":\"169.85\",\"2021-22\":\"70.41\",\"2022-23\":\"26.04\"},\"Net Incurred Claims Ratio\":{\"2013-14\":\"152.95\",\"2014-15\":\"120.82\",\"2015-16\":\"133.87\",\"2016-17\":\"116.91\",\"2017-18\":\"178.8\",\"2018-19\":\"183.88\",\"2019-20\":\"113.15\",\"2020-21\":\"125.2\",\"2021-22\":\"60.42\",\"2022-23\":\"79.09\"}},\"Title\":\"Gross & Net Incurred Claims Ratio - Aviation\",\"xTitle\":\"Year\",\"yTitle\":\"Claim Ratio (%)\",\"yAxisData\":{\"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\"},\"colorCodes\":[\"#BC00BC\",\" #7030A0\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em><strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<em>as per source<br>data submitted by companies<\/em> <\/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 4.7.5<\/span>Rural vs Urban Premium - Marine & Aviation<\/h3><div id=\"Chart_279\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        pie_chart(\"Chart_279\", {\"data\":{\"Rural Premium\":362,\"Urban Premium\":5588},\"Title\":\"\",\"SeriesTitle\":\"Rural vs Urban Premium - Marine & Aviation\",\"colorCodes\":[\"#F5A9FE\",\"#D766FA\"],\"dataLabelsFlag\":\"yes\"});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em><strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<em>as per source<br>data submitted by companies<\/em> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The composition of Marine and Aviation Insurance business is as mentioned below. The premium value of marine Cargo, Hull and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":272,"menu_order":7,"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\/284"}],"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=284"}],"version-history":[{"count":36,"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/pages\/284\/revisions"}],"predecessor-version":[{"id":3833,"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/pages\/284\/revisions\/3833"}],"up":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/pages\/272"}],"wp:attachment":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2022-23\/wp-json\/wp\/v2\/media?parent=284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}