{"id":103,"date":"2019-07-18T11:37:09","date_gmt":"2019-07-18T11:37:09","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=103"},"modified":"2026-02-25T11:00:06","modified_gmt":"2026-02-25T11:00:06","slug":"premium","status":"publish","type":"page","link":"https:\/\/www.gicouncil.in\/yearbook\/2024-25\/?page_id=103","title":{"rendered":"3.4 &#8211; Premium"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\">Gross Direct Premium (GDPI)<\/h4>\n\n\n\n<p><\/p>\n\n\n\n<p>India\u2019s Non-Life Insurance Industry has achieved a CAGR of approximately 14% over the period 2015\u201316 to 2024\u201325. Premium Income has more than trippled from \u20b996,379 crore in 2015\u201316 to \u20b93,07,633 crore in 2024\u201325. The Health, Motor &amp; crop insurance segments continue to be the primary drivers of this sustained premium growth.<\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.4.1<\/span>Gross Direct Premium Income - Indian Business<\/h3><div id=\"Chart_12\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        column_chart(\"Chart_12\", {\"unit\":\"\",\"data\":{\"GDPI\":{\"2015-16\":96379,\"2016-17\":128128,\"2017-18\":150662,\"2018-19\":169448,\"2019-20\":188916,\"2020-21\":198715,\"2021-22\":220700,\"2022-23\":256894,\"2023-24\":289673,\"2024-25\":307633}},\"Title\":\"Gross Direct Premium Income - Indian Business\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crores\",\"xAxisData\":{\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\",\"2021-22\":\"2021-22\",\"2022-23\":\"2022-23\",\"2023-24\":\"2023-24\",\"2024-25\":\"2024-25\"},\"colorCodes\":[\"#C98900\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<p>In the financial year 2024-25, the growth rate is 6.2% as compared to 12.4% the previous year. It should be noted, that the GDPI Figures for FY 2024-25 does not include long-term premiums as per IRDAI directive from October 1st 2024. The total long-term premium not accounted for in the FY 2024-25 is \u20b96988.51 Crores. Had these premiums been accounted the over all growth rates would have been 8.6% over the previous year.<\/p>\n\n\n\n<p>The decline in the premium growth rate is because of lower off take of motor vehicles, higher registration of senior-citizens under Ayushman Bharat, increased premium rates in health insurance amongst others.<\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.4.2<\/span>Growth Rate in Premium<\/h3><div id=\"Chart_13\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_13\", {\"unit\":\"\",\"data\":{\"GDPI Growth\":{\"2015-16\":\"13.81\",\"2016-17\":\"32.94\",\"2017-18\":\"17.59\",\"2018-19\":\"12.47\",\"2019-20\":\"11.49\",\"2020-21\":\"5.19\",\"2021-22\":\"11.06\",\"2022-23\":\"16.4\",\"2023-24\":\"12.4\",\"2024-25\":\"6.2\"}},\"Title\":\"Growth Rate in Premium\",\"xTitle\":\"Year\",\"yTitle\":\"Growth in Premium (%)\",\"yAxisData\":{\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\",\"2021-22\":\"2021-22\",\"2022-23\":\"2022-23\",\"2023-24\":\"2023-24\",\"2024-25\":\"2024-25\"},\"colorCodes\":[\"#643E0C\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<p><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<h4 class=\"wp-block-heading\">Gross Written Premium (GWP)<\/h4>\n\n\n\n<p><\/p>\n\n\n\n<p>Gross Written Premium (both domestic and international business) grew at a CAGR of 13.6% during the period from 2015\u201316 to 2024\u201325, increasing from \u20b91,02,396 crore to \u20b93,21,511 crore.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.4.3<\/span>Gross Written Premium<\/h3><div id=\"Chart_28\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        stacked_column_chart(\"Chart_28\", {\"stacklabels\":true,\"data\":{\"General Insurers\":{\"2015-16\":933,\"2016-17\":1201,\"2017-18\":1392,\"2018-19\":1564,\"2019-20\":1703,\"2020-21\":1780,\"2021-22\":1938,\"2022-23\":2243,\"2023-24\":2562,\"2024-25\":2713},\"Standalone Health Insurers\":{\"2015-16\":42,\"2016-17\":59,\"2017-18\":83,\"2018-19\":114,\"2019-20\":145,\"2020-21\":158,\"2021-22\":209,\"2022-23\":261,\"2023-24\":333,\"2024-25\":390},\"Specialised Insurers\":{\"2015-16\":48,\"2016-17\":83,\"2017-18\":91,\"2018-19\":82,\"2019-20\":104,\"2020-21\":131,\"2021-22\":150,\"2022-23\":159,\"2023-24\":114,\"2024-25\":112}},\"Title\":\"Gross Written Premium\",\"xTitle\":\"Year\",\"yTitle\":\"Rs in Crore\",\"yAxisData\":{\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\",\"2021-22\":\"2021-22\",\"2022-23\":\"2022-23\",\"2023-24\":\"2023-24\",\"2024-25\":\"2024-25\"},\"colorCodes\":[\"#C98900\",\" #956D33\",\" #643E0C\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<p><\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.4.4<\/span>GWP share % by Type of Insurers<\/h3><div id=\"Chart_29\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        stacked_column_chart(\"Chart_29\", {\"stacklabels\":\"false\",\"data\":{\"General Insurers\":{\"2015-16\":91.1,\"2016-17\":89.5,\"2017-18\":88.8,\"2018-19\":88.9,\"2019-20\":87.2,\"2020-21\":86,\"2021-22\":84.3,\"2022-23\":84.1,\"2023-24\":85.1,\"2024-25\":84.4},\"Standalone Health Insurers\":{\"2015-16\":4.1,\"2016-17\":4.4,\"2017-18\":5.3,\"2018-19\":6.5,\"2019-20\":7.4,\"2020-21\":7.6,\"2021-22\":9.1,\"2022-23\":9.8,\"2023-24\":11.1,\"2024-25\":12.1},\"Specialised Insurers\":{\"2015-16\":4.7,\"2016-17\":6.2,\"2017-18\":5.8,\"2018-19\":4.6,\"2019-20\":5.3,\"2020-21\":6.4,\"2021-22\":6.5,\"2022-23\":6,\"2023-24\":3.8,\"2024-25\":3.1}},\"Title\":\"GWP share % by Type of Insurers\",\"xTitle\":\"Year\",\"yTitle\":\"% to Total GWP\",\"yAxisData\":{\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\",\"2021-22\":\"2021-22\",\"2022-23\":\"2022-23\",\"2023-24\":\"2023-24\",\"2024-25\":\"2024-25\"},\"colorCodes\":[\"#C98900\",\" #956D33\",\" #643E0C\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<p>The breakdown of Rural and Urban segments across different categories is shown below, with values represented in \u20b9 Crores.<\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.4.5<\/span>GDPI - Rural vs Urban<\/h3><div id=\"Chart_30\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_30\", {\"unit\":\"(\\u20b9 in Crores)\",\"data\":{\"Rural\":{\"2015-16\":21330,\"2016-17\\n\":28611,\"2017-18\\n\":37191,\"2018-19\\n\":34577,\"2019-20\\n\":42489,\"2020-21\\n\":44741,\"2021-22\\n\":47344,\"2022-23\\n\":54536,\"2023-24\":53675,\"2024-25\":41428},\"Urban\":{\"2015-16\":75049,\"2016-17\\n\":99518,\"2017-18\\n\":113471,\"2018-19\\n\":134871,\"2019-20\\n\":146428,\"2020-21\\n\":153974,\"2021-22\\n\":173356,\"2022-23\\n\":202358,\"2023-24\":235998,\"2024-25\":266205}},\"Title\":\"GDPI - Rural vs Urban\",\"xTitle\":\"Year\",\"yTitle\":\"GDPI (\\u20b9 in Crores)\",\"yAxisData\":{\"2015-16\":\"2015-16\",\"2016-17\\n\":\"2016-17\\n\",\"2017-18\\n\":\"2017-18\\n\",\"2018-19\\n\":\"2018-19\\n\",\"2019-20\\n\":\"2019-20\\n\",\"2020-21\\n\":\"2020-21\\n\",\"2021-22\\n\":\"2021-22\\n\",\"2022-23\\n\":\"2022-23\\n\",\"2023-24\":\"2023-24\",\"2024-25\":\"2024-25\"},\"colorCodes\":[\"#C98900\",\" #956D33\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<p><\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Net Written Premium &amp; Net Earned Premium (NWP &amp; NEP)<\/h4>\n\n\n\n<p><\/p>\n\n\n\n<p>Net Written Premium (NWP) recorded a strong growth with a CAGR of 12.4%, increasing from \u20b981,450 crore in 2015-16 to \u20b92,32,912 crore in 2024-25. Net Earned Premium (NEP) also grew at the same CAGR of 13%, rising from \u20b975,878 crore to \u20b92,27,538 crore over the same period. Throughout the period under review, NEP consistently remained above 90% of NWP for the period under review.<\/p>\n\n\n\n<p><\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #f6a192;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 3.4.6<\/span>Net Written Premium & Net Earned Premium Growth<\/h3><div id=\"Chart_32\"><\/div><script type=\"text\/javascript\">\n                     jQuery(document).ready(function () {\n                         multiple_column_line(\"Chart_32\",{\"data\":{\"Net Written Premium\":{\"2015-16\":81450,\"2016-17\":94178,\"2017-18\":107411,\"2018-19\":120386,\"2019-20\":130187,\"2020-21\":147038,\"2021-22\":165514,\"2022-23\":192333,\"2023-24\":220873,\"2024-25\":232912},\"Net Earned Premium\":{\"2015-16\":75878,\"2016-17\":88725,\"2017-18\":100453,\"2018-19\":113334,\"2019-20\":126178,\"2020-21\":137620,\"2021-22\":158002,\"2022-23\":179678,\"2023-24\":208793,\"2024-25\":227538}},\"Title\":\"Net Written Premium & Net Earned Premium Growth\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crore\",\"zTitle\":\"NEP as % of NWP\",\"yAxisData\":{\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\",\"2021-22\":\"2021-22\",\"2022-23\":\"2022-23\",\"2023-24\":\"2023-24\",\"2024-25\":\"2024-25\"},\"zAxisData\":{\"2015-16\":93.2,\"2016-17\":94.2,\"2017-18\":93.5,\"2018-19\":94.1,\"2019-20\":96.9,\"2020-21\":93.6,\"2021-22\":95.5,\"2022-23\":93.4,\"2023-24\":94.5,\"2024-25\":97.7},\"colorLine\":\"#643E0C\",\"colorCodes\":{\"1\":\"#C98900\",\"2\":\"#956D33\"}});\n                     });\n                 <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em> <strong>Source<\/strong>: Council Compilation<\/em> <em>as per source<br>data submitted by companies<\/em> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gross Direct Premium (GDPI) India\u2019s Non-Life Insurance Industry has achieved a CAGR of approximately 14% over the period 2015\u201316 to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":529,"menu_order":4,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width.php","meta":[],"_links":{"self":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2024-25\/index.php?rest_route=\/wp\/v2\/pages\/103"}],"collection":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2024-25\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2024-25\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2024-25\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2024-25\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=103"}],"version-history":[{"count":63,"href":"https:\/\/www.gicouncil.in\/yearbook\/2024-25\/index.php?rest_route=\/wp\/v2\/pages\/103\/revisions"}],"predecessor-version":[{"id":4725,"href":"https:\/\/www.gicouncil.in\/yearbook\/2024-25\/index.php?rest_route=\/wp\/v2\/pages\/103\/revisions\/4725"}],"up":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2024-25\/index.php?rest_route=\/wp\/v2\/pages\/529"}],"wp:attachment":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2024-25\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}