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

2024-25 Value
No. Of Policies 1,577,136
GDPI (in Cr) 6,596
No. Of Claims Reported 555,165
No. Of Paid Claims 435,325
Amt of Paid Claims (in Cr) 3,640

Source: Council Compilation as per source
data submitted by companies



NIC for both Cargo & Hull Classes of Business is more than  GIC, due to accumulations and retentions.

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