Chart 3.5.1Gross & Net Commission

Source: Council Compilation as per source
data submitted by companies
*Note: GDP includes India and Abroad

The Gross Commission rose from ₹5,295 crores in 2014-15 to ₹40,300 crores in 2023-24. Gross Commission as a percentage of GDPI is 13.9% as compared to 8% in 2022-23. The reason for this significant increase in commission is the change in the EOM& commission regulations brought about by IRDAI last year, increasing the limit of commission and expenses paid upto 30% of the premium received.

The increase in the rates of commission as allowed by IRDAI(referred to previous graph above) in the commission regulations resulted in the increase in the commission payouts of all channels of intermediaries.

Chart 3.5.2Gross Commission Channel-wise (2023-24)

Source: Public Disclosure data (NL6 of companies)
Note: Corporate Agents share in above charts includes
business through Bancassurance channels