{"id":162,"date":"2019-07-22T12:55:19","date_gmt":"2019-07-22T12:55:19","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=162"},"modified":"2025-01-14T15:14:58","modified_gmt":"2025-01-14T15:14:58","slug":"commission","status":"publish","type":"page","link":"https:\/\/yearbook.websitestage.org\/?page_id=162","title":{"rendered":"3.5 &#8211; Commission"},"content":{"rendered":"<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 3.5.1<\/span>Gross & Net Commission<\/h3><div id=\"Chart_33\"><\/div><script type=\"text\/javascript\">\n                     jQuery(document).ready(function () {\n                         multiple_column_multiple_line(\"Chart_33\",{\"data\":{\"Net Commission\":{\"2014-15\":87151,\"2015-16\":99333,\"2016-17\":130970,\"2017-18\":153438,\"2018-19\":172483,\"2019-20\":192193,\"2020-21\":202094,\"2021-22\":224002,\"2022-23\":256894,\"2023-24\":289673},\"Gross Commission\":{\"2014-15\":5295,\"2015-16\":6003,\"2016-17\":6882,\"2017-18\":10731,\"2018-19\":12720,\"2019-20\":14412,\"2020-21\":15992,\"2021-22\":16193,\"2022-23\":20515,\"2023-24\":40300}},\"dataLine\":{\"Gross Commission as a % of GDPI\":{\"2014-15\":6.1,\"2015-16\":6,\"2016-17\":5.3,\"2017-18\":7,\"2018-19\":7.4,\"2019-20\":7.5,\"2020-21\":7.9,\"2021-22\":7.2,\"2022-23\":8,\"2023-24\":13.9},\"Net Commission as a % NEP\":{\"2014-15\":4,\"2015-16\":3.9,\"2016-17\":1.6,\"2017-18\":3.9,\"2018-19\":5,\"2019-20\":4.5,\"2020-21\":5.2,\"2021-22\":5,\"2022-23\":5,\"2023-24\":12.7}},\"Title\":\"Gross & Net Commission\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crores\",\"zTitle\":\"% of GDPI, % of NEP\",\"yAxisData\":{\"2014-15\":\"2014-15\",\"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\"},\"zAxisData\":{\"2014-15\":0,\"2015-16\":0,\"2016-17\":0,\"2017-18\":0,\"2018-19\":0,\"2019-20\":0,\"2020-21\":0,\"2021-22\":0,\"2022-23\":0,\"2023-24\":0},\"colorLine\":[\"#002060\",\"#0070c0\"],\"colorCodes\":[\"#7e8ac5\",\"#486dd4\"]});\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> <em><br><strong>*Note<\/strong>: GDP includes India and Abroad<\/em><\/p>\n\n\n\n<p>The Gross Commission rose from \u20b95,295 crores in 2014-15 to \u20b940,300 crores in 2023-24. Gross Commission as a percentage of GDPI is 13.9% as compared to 8% in 2022-23. The reason for this significant increase in commission is the change in the EOM&amp; commission regulations brought about by IRDAI last year, increasing the limit of commission and expenses paid upto 30% of the premium received.<\/p>\n\n\n\n<p>The increase in the rates of commission as allowed by IRDAI(referred to previous graph above) in the commission regulations resulted in the increase in the commission payouts of all channels of intermediaries.<\/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 3.5.2<\/span>Gross Commission Channel-wise (2023-24)<\/h3><div id=\"Chart_34\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_34\", {\"orientation\":\"false\",\"unit\":\"(\\u20b9 in Crores)\",\"data\":{\"2022-23\":{\"Agents\":7606,\"Brokers\":7841,\"Corporate Agents\":2846,\"Others\":98,\"Web Aggregators\":10,\"Point of Sale\":505},\"2023-24\":{\"Agents\":10489,\"Brokers\":15248,\"Corporate Agents\":7655,\"Others\":1253,\"Web Aggregators\":25,\"Point of Sale\":2537}},\"Title\":\"Gross Commission Channel-wise (2023-24)\",\"xTitle\":\"Distribution Channel\",\"yTitle\":\"Commission (\\u20b9 in Crores)\",\"yAxisData\":{\"Agents\":\"Agents\",\"Brokers\":\"Brokers\",\"Corporate Agents\":\"Corporate Agents\",\"Others\":\"Others\",\"Web Aggregators\":\"Web Aggregators\",\"Point of Sale\":\"Point of Sale\"},\"colorCodes\":[\"#0070c0\",\" #7e8ac5\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><em><strong>Source<\/strong>: Public Disclosure data (NL6 of companies)<br><strong>Note<\/strong>: Corporate Agents share in above charts includes<\/em><br><em> business through Bancassurance channels<\/em><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Council Compilation as per sourcedata submitted by companies *Note: GDP includes India and Abroad The Gross Commission rose from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":529,"menu_order":5,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width.php","meta":[],"_links":{"self":[{"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/162"}],"collection":[{"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=162"}],"version-history":[{"count":33,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/162\/revisions"}],"predecessor-version":[{"id":4033,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/162\/revisions\/4033"}],"up":[{"embeddable":true,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/529"}],"wp:attachment":[{"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}