Table 14Gross Underwriting Experience - 2014-15 to 2023-24 (Overall Figures)

Year 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
Gross Direct Premium 87,151.37 99,332.95 1,30,970.11 1,53,437.54 1,72,482.74 1,92,192.59 202,094.36 2,24,002 2,60,328 2,89,673
Gross Written Premium 90,364.55 1,02,395.77 1,34,177.33 1,56,629.01 1,75,899.19 1,95,201.61 206,905.70 2,29,792 2,66,591 3,00,843
Gross Earned Premium 86,436.43 96,049.98 1,18,181.77 1,45,079.53 1,66,407.40 1,85,396.17 200,844.08 2,18,139 2,48,310 2,78,799
Gross Direct Claims 72,046.74 79,256.69 1,12,962.62 1,24,708.49 1,38,826.94 1,52,737.58 148,031.96 178,909 1,90,231 2,21,347
Gross Direct Claims as % to GEP 83.35% 82.52% 95.58% 85.96% 83.43% 82.38% 73.70% 82.0% 76.6% 79.4%
Gross Direct Commission 5,295.17 5,995.99 6,882.19 10,730.57 12,719.49 14,411.87 15,992.39 16,193 20,515 40,300
Gross Direct Commission as % to GWP 5.86% 5.86% 5.13% 6.85% 7.23% 7.38% 7.73% 7.0% 7.7% 13.4%
Expenses of Management 20,324.31 23,062.00 26,827.00 26,329.00 30,604.00 42,045.45 43,545.00 46,551 54,689 38,649
Expenses of Management as % to GWP 22.49% 22.52% 19.99% 16.81% 17.40% 21.54% 21.05% 20.3% 20.5% 12.8%
Underwriting Surplus/(Deficit) (11,229.80) (12,264.70) (28,490.03) (16,688.52) (15,743.04) (23,798.73) (6,725.27 ) (23,514) (17,125) (21497)
Underwriting Surplus/(Deficit) as % to GEP -12.99% -12.77% -24.11% -11.50% -9.46% -12.84% -3.35% -10.8% -6.9% -7.7%

(₹ in Crores)

Source: IRDAI reports and Council Compilation