Table 8Gross incurred Claim Ratios (within India and abroad)

OVERALL
Year 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
Fire 75.4% 61.4% 72.7% 60.8% 78.0% 59.2% 55.71% 44.2% 34.1% 59.3%
Engg. 63.2% 53.6% 45.8% 27.8% 52.4% 73.9% 45.63% 30.7% 33.1% 51.9%
Marine Cargo 80.3% 90.4% 75.3% 57.1% 79.7% 63.7% 96.57% 83.4% 68.8% 67.5%
Marine Hull 57.5% 58.6% 105.4% 40.6% 69.5% 50.2% 101.76% 113.6% 47.6% 57.5%
Motor OD 59.8% 67.2% 70.0% 63.8% 72.4% 77.2% 66.80% 78.8% 79.5% 75.5%
Motor TP 96.8% 86.6% 94.0% 96.4% 87.2% 81.6% 75.04% 80.9% 78.1% 77.9%
Aviation 53.5% 123.1% 89.1% 90.2% 154.3% 80.2% 169.85% 70.4% 19.2% 41.4%
Health 89.3% 89.9% 95.4% 83.3% 79.8% 81.9% 80.55% 97.5% 80.5% 78.1%
Personal accident 50.5% 52.0% 60.2% 64.6% 64.1% 69.1% 54.99% 59.7% 60.6% 63.0%
Liability 23.6% 29.8% 26.3% 41.5% 47.3% 38.7% 51.19% 32.9% 43.9% 35.6%
Other Misc. 97.6% 85.9% 91.6% 90.8% 87.7% 90.6% 76.44% 74.3% 72.1% 71.6%
TOTAL 79.7% 77.4% 84.2% 79.6% 80.5% 79.5% 73.3% 79.9% 71.1% 73.0%

GENERAL INSURERS
Year 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
Fire 75.4% 61.4% 72.7% 60.8% 78.0% 59.2% 55.7% 44.2% 34.1% 59.3%
Engg. 63.2% 53.6% 45.8% 27.8% 52.4% 73.9% 45.6% 30.7% 33.1% 51.9%
Marine Cargo 80.3% 90.4% 75.3% 57.1% 79.7% 63.7% 96.6% 83.4% 68.8% 67.5%
Marine Hull 57.5% 58.6% 105.4% 40.6% 69.5% 50.2% 101.8% 113.6% 47.6% 57.5%
Motor OD 59.8% 67.2% 70.0% 63.8% 72.4% 77.2% 66.8% 78.8% 79.5% 75.5%
Motor TP 96.8% 86.6% 94.0% 96.4% 87.2% 81.6% 75.0% 80.9% 78.1% 77.9%
Aviation 53.5% 123.1% 89.1% 90.2% 154.3% 80.2% 169.8% 70.4% 19.2% 41.4%
Health 95.6% 96.8% 104.8% 91.2% 87.5% 90.3% 88.8% 107.5% 90.5% 87.4%
Personal accident 51.8% 53.9% 63.2% 68.7% 68.5% 75.1% 60.2% 64.4% 65.1% 67.2%
Liability 23.6% 29.8% 26.3% 41.5% 47.3% 38.7% 51.2% 32.9% 43.9% 35.6%
Other Misc. 79.2% 88.1% 77.1% 84.0% 85.5% 92.0% 67.5% 75.2% 63.5% 71.5%
TOTAL 78.6% 78.2% 83.1% 79.5% 81.7% 80.9% 73.4% 80.8% 71.5% 75.3%

STANDALONE HEALTH INSURERS
Year 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
Health 51.3% 53.6% 52.4% 52.8% 54.9% 58.6% 56.8% 70.8% 54.7% 56.3%
Personal accident 19.6% 23.8% 20.8% 21.4% 25.9% 24.8% 17.3% 22.7% 24.6% 22.8%
Other Misc. 20.1% 59.1% - 34.2% - - - - - -
TOTAL 50.2% 52.5% 51.0% 51.2% 53.5% 57.1% 55.2% 69.0% 53.8% 55.6%

SPECIALISED INSURERS
Year 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
Other Misc. 125.0% 83.4% 124.1% 107.7% 94.5% 86.9% 93.1% 82.8% 85.2% 72.1%

Source: IRDAI reports and Council Compilation