Table 12Net Incurred Claim Ratios (defined as Net Incurred Claims divided by Net Earned Premium)
OVERALL | Year | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 | 2024-25 |
| Fire | 74.2% | 84.4% | 82.4% | 90.5% | 78.1%
| 67.1% | 65.1% | 58.0% | 78.3% | 73.1% |
| Engg. | 68.7% | 63.3% | 39.3% | 53.4% | 79.6%
| 85.7% | 38.7% | 48.3% | 71.8% | 43.1% |
| Marine Cargo | 73.0% | 68.2% | 58.3% | 77.2% | 68.3%
| 69.3% | 82.2% | 76.9% | 78.7% | 78.6% |
| Marine Hull | 67.0% | 125.3% | 144.5% | 152.3% | 96.6%
| 103.4% | 102.3% | 61.1% | 31.5% | 42.4% |
| Motor OD | 70.3% | 72.5% | 67.0% | 72.9% | 78.0%
| 69.8% | 80.3% | 88.7% | 83.9% | 82.2% |
| Motor TP | 93.0% | 103.6% | 98.0% | 104.2% | 90.6%
| 77.8% | 81.9% | 81.9% | 78.5% | 87.6% |
| Aviation | 133.9% | 116.9% | 178.8% | 183.9% | 113.1%
| 125.2% | 60.4% | 79.1% | 94.4% | 100.8% |
| Health | 101.9% | 103.9% | 93.6% | 90.5% | 87.7%
| 93.9% | 109.1% | 89.3% | 89.0% | 86.8% |
| Personal accident | 62.3% | 65.2% | 78.2% | 77.5% | 67.1%
| 52.2% | 62.1% | 62.6% | 64.6% | 61.6% |
| Liability | 40.1% | 32.3% | 35.9% | 38.7% | 51.0%
| 49.6% | 37.0% | 46.7% | 46.2% | 61.8% |
| Other Misc. | 82.9% | 93.7% | 87.4% | 91.2% | 100.1%
| 85.6% | 78.2% | 79.1% | 75.6% | 71.3% |
| TOTAL | 85.0% | 90.9% | 85.3% | 89.2% | 85.9% | 81.06% | 89.0% | 83.1% | 82.5% | 82.9% |
GENERAL INSURERS | Year | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 | 2024-25 |
| Fire | 74.2% | 84.4% | 82.4% | 90.5% | 78.1%
| 67.1% | 65.1% | 58.0% | 78.3% | 71.3% |
| Engg. | 68.7% | 63.3% | 39.3% | 53.4% | 79.6%
| 85.7% | 38.7% | 48.3% | 71.8% | 43.1% |
| Marine Cargo | 73.0% | 68.2% | 58.3% | 77.2% | 68.3%
| 69.3% | 82.2% | 76.9% | 78.7% | 78.6% |
| Marine Hull | 67.0% | 125.3% | 144.5% | 152.3% | 96.6%
| 103.4% | 102.3% | 61.1% | 31.5% | 42.4% |
| Motor OD | 70.3% | 72.5% | 67.0% | 72.9% | 78.0%
| 69.8% | 80.3% | 88.7% | 83.9% | 82.2% |
| Motor TP | 93.0% | 103.6% | 98.0% | 104.2% | 90.6%
| 77.8% | 81.9% | 81.9% | 78.5% | 87.6% |
| Aviation | 133.9% | 116.9% | 178.8% | 183.9% | 113.1%
| 125.2% | 60.4% | 79.1% | 94.4% | 100.8% |
| Health | 108.9% | 112.6% | 101.5% | 98.3% | 94.6%
| 97.7% | 119.0% | 99.2% | 99.2% | 94.7% |
| Personal accident | 64.3% | 68.5% | 79.0% | 83.3% | 72.2%
| 55.7% | 67.2% | 68.6% | 69.9% | 65.6% |
| Liability | 40.1% | 32.3% | 35.9% | 38.7% | 51.0%
| 49.6% | 37.0% | 46.7% | 46.4% | 61.8% |
| Other Misc. | 67.2% | 80.0% | 78.6% | 86.4% | 95.1%
| 78.7% | 66.2% | 84.0% | 83.4% | 78.2% |
| TOTAL | 85.5% | 91.7% | 86.1% | 90.9% | 87.1%
| 70.9% | 89.9% | 86.5% | 86.0% | 86.2% |
STANDALONE HEALTH INSURERS | Year | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 | 2024-25 |
| Health | 59.4% | 58.0% | 59.3% | 62.6% | 66.0%
| 78.2% | 81.2% | 63.1% | 64.6% | 68.9% |
| Personal accident | 26.8% | 22.5% | 69.2% | 26.4% | 26.4%
| 21.4% | 23.9% | 24.1% | 24.0% | 29.2% |
| Other Misc. | 49.6% | - | 36.1% | - | - | - | - | - | - | - |
| TOTAL | 58.2% | 56.5% | 59.6% | 60.7% | 64.1%
| 75.4% | 79.1% | 61.4% | 63.6% | 68.1% |
SPECIALISED INSURERS | Year | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 | 2024-25 |
| Other Misc. | 100.5% | 120.2% | 112.9% | 106.3% | 115.4%
| 94.0% | 92.5% | 73.7% | 66.6% | 55.0% |
Source: IRDAI reports and Council Compilation
