Total Gross Direct Premium Income (India & Abroad) stood at ₹ 2,92,712 Crores, a 12.40% growth from FY 2023-24.
The share of Gross Direct Premium Income via Brokers has grown by approximately 34.7% over the previous year.
Net commissions also exhibited continued uptrends, with growth figures reaching approximately 10%.
FY 2023-24 has seen a significant increase in claims. This has affected profitability. Gross Incurred
Claims ratio increased to 73.0% for the current financial year as against 71.1% in the previous year.
Industry Investment Incomes have also posted continued growth:
1. Investment income pertaining to policyholders was ₹ 35,242 Crores in FY 2023-24, representing a CAGR of around 12.3% p.a over a 10-year period.
2. Investment income pertaining to shareholders was ₹ 8,678Crores in FY 2023-24, representing a CAGR of 7.9% p.a. over a 10-year period.
