{"id":282,"date":"2019-07-29T09:14:35","date_gmt":"2019-07-29T09:14:35","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=282"},"modified":"2025-02-04T17:23:26","modified_gmt":"2025-02-04T17:23:26","slug":"property-fire-engineering","status":"publish","type":"page","link":"https:\/\/yearbook.websitestage.org\/?page_id=282","title":{"rendered":"4.6 &#8211; Property (Fire + Engineering)"},"content":{"rendered":"\n<p>The property insurance sector has achieved a Compound Annual Growth Rate (CAGR) of 12.00% between 2014-15 and 2023-24. This year, the share of the engineering segment has grown to \u20b95,392 crore, up from \u20b94,285 crore in the previous year.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-columns w-two-one\">\n\t<div class=\"wp-block-column_2\">\n\t\t<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 4.6.1<\/span>GDPI - Property Insurance<\/h3><div id=\"Chart_187\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        stacked_column_chart(\"Chart_187\", {\"stacklabels\":true,\"data\":{\"Fire\":{\"2014-15\":8938,\"2015-16\":9665,\"2016-17\":10357,\"2017-18\":11527,\"2018-19\":12512,\"2019-20\":16649,\"2020-21\":20101,\"2021-22\":21548,\"2022-23\":23932,\"2023-24\":25656},\"Engineering\":{\"2014-15\":2458,\"2015-16\":2469,\"2016-17\":2387,\"2017-18\":2287,\"2018-19\":2542,\"2019-20\":2706,\"2020-21\":2970,\"2021-22\":3563,\"2022-23\":4285,\"2023-24\":5392}},\"Title\":\"GDPI - Property Insurance\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crores\",\"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\"},\"colorCodes\":[\"#7e8ac5\",\" #002060\"]});\n                    });\n                <\/script>\n\t<\/div>\n\t<div class=\"wp-block-column_1\">\n\t\t<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;\"> Table 4.6.1<\/span>Property<\/h3><table width=\"100%\" class=\"\">    <tbody>        <tr>                    <td>                        2023-24                    <\/td>                    <td>                        Value                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Policies                    <\/td>                    <td>                            1,01,06,006                    <\/td>        <\/tr>        <tr>                    <td>                            GDPI \u00a0(in Cr)                    <\/td>                    <td>                             31,048                     <\/td>        <\/tr>        <tr>                    <td>                            No. Of Claims Reported                    <\/td>                    <td>                            2,66,613                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Paid Claims                    <\/td>                    <td>                            1,93,222                    <\/td>        <\/tr>        <tr>                    <td>                            Amt of Paid Claims (in Cr)                    <\/td>                    <td>                            15,248                    <\/td>        <\/tr>    <\/tbody><\/table>\n                <span style=\"margin-left: 139px;font-size:13px\"> <i><\/i><\/span>\n\t<\/div>\n<\/div>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em><strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p><\/p>\n<cite><br><br><\/cite><\/blockquote>\n\n\n\n<p>Due to the catastrophic losses arises out of Natural disasters in the year under review the GIC ratio has risen to 77.2% as compared to 40% in the previous year. However, the NIC ratio increased marginally to 58.1% in the year under review as compared to 56.6% in the previous year reflecting prudent reinsurance arrangements<\/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 4.6.2<\/span>Gross & Net Incurred Claims Ratio - Property<\/h3><div id=\"Chart_188\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_188\", {\"unit\":\"%\",\"data\":{\"Gross Incurred Claims Ratio\":{\"2014-15\":\"84.7\",\"2015-16\":\"69.5\",\"2016-17\":\"79.1\",\"2017-18\":\"64.9\",\"2018-19\":\"73.7\",\"2019-20\":\"61.3\",\"2020-21\":\"54.4\",\"2021-22\":\"44.5\",\"2022-23\":\"40\",\"2023-24\":\"77.2\"},\"Net Incurred Claims Ratio\":{\"2014-15\":\"69.3\",\"2015-16\":\"73\",\"2016-17\":\"80.1\",\"2017-18\":\"74.4\",\"2018-19\":\"83.4\",\"2019-20\":\"78.3\",\"2020-21\":\"69.7\",\"2021-22\":\"61.4\",\"2022-23\":\"56.6\",\"2023-24\":\"58.1\"}},\"Title\":\"Gross & Net Incurred Claims Ratio - Property\",\"xTitle\":\"Year\",\"yTitle\":\"Loss ratio (%)\",\"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\"},\"colorCodes\":[\"#7e8ac5\",\" #002060\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em><strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<em>as per source<br>data submitted by companies<\/em> <\/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 4.6.3<\/span>Rural vs Urban Premium - Property<\/h3><div id=\"Chart_276\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        pie_chart(\"Chart_276\", {\"data\":{\"Rural Premium\":1615,\"Urban Premium\":29444},\"Title\":\"\",\"SeriesTitle\":\"Rural vs Urban Premium - Property\",\"colorCodes\":[\"#7e8ac5\",\"#0070c0\"],\"dataLabelsFlag\":\"yes\"});\n                    });\n                <\/script>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><em> <strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<em>as per source<br>data submitted by companies<\/em> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property insurance sector has achieved a Compound Annual Growth Rate (CAGR) of 12.00% between 2014-15 and 2023-24. This year, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":272,"menu_order":6,"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\/282"}],"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=282"}],"version-history":[{"count":45,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/282\/revisions"}],"predecessor-version":[{"id":4185,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/282\/revisions\/4185"}],"up":[{"embeddable":true,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/272"}],"wp:attachment":[{"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}