Net Retention of Insurance Companies (After Cessions to Reinsurers)

The Gross Written and Net Written Premiums during the period 2014-15 to 2023-24 are as follows:

Chart 5.1.1Gross Written premium & Net Written Premium

Source: Council Compilation as per source data submitted by companies

Steady growth of Gross Written Premium and Net Written Premium over the past 10 years has been observed since 2014.

Table 5.1.1 Gross Written Premium and Net Written Premium, Retention Ratio

	2021-22			2022-23			2023-24
		GWP	NWP	Retention Ratio	GWP	NWP	Retention Ratio	GWP	NWP	Retention Ratio
Private Sector	1,12,621	71,722	63.7%	1,35,295	87,069	64.4%	1,58,918	1,03,070	64.9%
Public Sector	81,191	67,639	83.3%	89,024	74,105	83.2%	97,257	81,788	84.0%
Standalone Health	20,934	18,388	87.6%	26,340	23,650	89.8%	33,277	29,084	87.4%
Specialized Company	15,047	7,815	51.9%	15,932	7,781	48.8%	11,391	6,931	60.8%
Total	2,29,792	1,65,514	72.0%	2,66,591	1,92,604	72.2%	3,00,843	2,20,873	73.4%

Source: Council Compilation as per source data submitted by companies

Note: The ceded premium of specialized companies includes premium ceded to other Indian Non-Life insurance companies in addition to GIC Re & FRB’s