The composition of the Marine and Aviation Insurance business is outlined below, highlighting an increase in premium values for Marine Hull and Aviation this year.
Chart 4.7.1Marine & Aviation Insurance
Table 4.7.1Marine & Aviation
| 2023-24 | Value |
| No. Of Policies | 1,330,520 |
| GDPI (in Cr) | 6,148 |
| No. Of Claims Reported | 4,97,821 |
| No. Of Paid Claims | 4,35,861 |
| Amt of Paid Claims (in Cr) | 3,441 |
Source: Council Compilation as per source
data submitted by companies
Chart 4.7.2Gross & Net Incurred Claims Ratio - Marine (Cargo)
Source: Council Compilation as per source
data submitted by companies
Chart 4.7.3Gross & Net Incurred Claims Ratio - Marine (Hull)
Source: Council Compilation as per source
data submitted by companies
Both GIC and NIC in the aviation sector are showing a variable trend in the last 10 years
Chart 4.7.4Gross & Net Incurred Claims Ratio - Aviation
Source: Council Compilation as per source
data submitted by companies
Chart 4.7.5Rural vs Urban Premium - Marine & Aviation
Source: Council Compilation as per source
data submitted by companies