{"id":284,"date":"2019-07-29T09:15:04","date_gmt":"2019-07-29T09:15:04","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=284"},"modified":"2025-02-04T18:03:10","modified_gmt":"2025-02-04T18:03:10","slug":"marine-aviation","status":"publish","type":"page","link":"https:\/\/yearbook.websitestage.org\/?page_id=284","title":{"rendered":"4.7 &#8211; Marine &#038; Aviation"},"content":{"rendered":"\n<p>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.<\/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 4.7.1<\/span>Marine & Aviation Insurance<\/h3><div id=\"Chart_189\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        basic_column_chart(\"Chart_189\", {\"unit\":\"\",\"data\":{\"Marine Cargo\":{\"2014-15\":2143,\"2015-16\":2194,\"2016-17\":2190,\"2017-18\":2300,\"2018-19\":2498,\"2019-20\":2757,\"2020-21\":2435,\"2021-22\":3141,\"2022-23\":3760,\"2023-24\":3686},\"Marine Hull\":{\"2014-15\":1011,\"2015-16\":875,\"2016-17\":827,\"2017-18\":663,\"2018-19\":822,\"2019-20\":850,\"2020-21\":1050,\"2021-22\":1026,\"2022-23\":1298,\"2023-24\":1405},\"Aviation\":{\"2014-15\":429,\"2015-16\":447,\"2016-17\":430,\"2017-18\":411,\"2018-19\":560,\"2019-20\":698,\"2020-21\":753,\"2021-22\":852,\"2022-23\":893,\"2023-24\":1056}},\"Title\":\"Marine & Aviation 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\",\"#0070c0\",\"#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 4.7.1<\/span>Marine & Aviation<\/h3><table width=\"100%\" class=\"\">    <tbody>        <tr>                    <td>                        2023-24                    <\/td>                    <td>                        Value                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Policies                    <\/td>                    <td>                             1,330,520                    <\/td>        <\/tr>        <tr>                    <td>                            GDPI (in Cr)                    <\/td>                    <td>                             6,148                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Claims Reported                    <\/td>                    <td>                            4,97,821                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Paid Claims                    <\/td>                    <td>                            4,35,861                    <\/td>        <\/tr>        <tr>                    <td>                            Amt of Paid Claims (in Cr)                    <\/td>                    <td>                             3,441                    <\/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><\/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\n\n\n<p><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p><\/p>\n<cite><br><br><\/cite><\/blockquote>\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 4.7.2<\/span>Gross & Net Incurred Claims Ratio - Marine (Cargo)<\/h3><div id=\"Chart_190\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_190\", {\"unit\":\"\",\"data\":{\"Gross Incurred Claims Ratio\":{\"2014-15\":\"82\",\"2015-16\":\"92.7\",\"2016-17\":\"77\",\"2017-18\":\"58.5\",\"2018-19\":\"79.7\",\"2019-20\":\"63.7\",\"2020-21\":\"99.9\",\"2021-22\":\"85.4\",\"2022-23\":\"72.9\",\"2023-24\":\"67.5\"},\"Net Incurred Claims Ratio\":{\"2014-15\":\"65\",\"2015-16\":\"73\",\"2016-17\":\"68.2\",\"2017-18\":\"58.3\",\"2018-19\":\"77.2\",\"2019-20\":\"68.3\",\"2020-21\":\"69.3\",\"2021-22\":\"82.2\",\"2022-23\":\"76.9\",\"2023-24\":\"78.7\"}},\"Title\":\"Gross & Net Incurred Claims Ratio - Marine (Cargo)\",\"xTitle\":\"Year\",\"yTitle\":\"Claim 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\n<blockquote class=\"wp-block-quote\">\n<p><\/p>\n<cite><br><br><\/cite><\/blockquote>\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 4.7.3<\/span>Gross & Net Incurred Claims Ratio - Marine (Hull)<\/h3><div id=\"Chart_191\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_191\", {\"unit\":\"\",\"data\":{\"Gross Incurred Claims Ratio\":{\"2014-15\":\"66.1\",\"2015-16\":\"64.5\",\"2016-17\":\"113.5\",\"2017-18\":\"43.6\",\"2018-19\":\"69.5\",\"2019-20\":\"50.2\",\"2020-21\":\"100.4\",\"2021-22\":\"116.7\",\"2022-23\":\"46.5\",\"2023-24\":\"57.5\"},\"Net Incurred Claims Ratio\":{\"2014-15\":\"81.5\",\"2015-16\":\"67\",\"2016-17\":\"125.3\",\"2017-18\":\"144.5\",\"2018-19\":\"152.3\",\"2019-20\":\"96.6\",\"2020-21\":\"103.4\",\"2021-22\":\"102.3\",\"2022-23\":\"60.2\",\"2023-24\":\"31.5\"}},\"Title\":\"Gross & Net Incurred Claims Ratio - Marine (Hull)\",\"xTitle\":\"Year\",\"yTitle\":\"Claim 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\n<blockquote class=\"wp-block-quote\">\n<p><\/p>\n<cite><br><br><\/cite><\/blockquote>\n\n\n\n<p>Both GIC and NIC in the aviation sector are showing a variable trend in the last 10 years<\/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 4.7.4<\/span>Gross & Net Incurred Claims Ratio - Aviation<\/h3><div id=\"Chart_192\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_192\", {\"unit\":\"\",\"data\":{\"Gross Incurred Claims Ratio\":{\"2014-15\":\"74.4\",\"2015-16\":\"168.2\",\"2016-17\":\"125.1\",\"2017-18\":\"129.8\",\"2018-19\":\"154.3\",\"2019-20\":\"80.2\",\"2020-21\":\"169.8\",\"2021-22\":\"70.4\",\"2022-23\":\"26\",\"2023-24\":\"41.4\"},\"Net Incurred Claims Ratio\":{\"2014-15\":\"120.8\",\"2015-16\":\"133.9\",\"2016-17\":\"116.9\",\"2017-18\":\"178.8\",\"2018-19\":\"183.9\",\"2019-20\":\"113.1\",\"2020-21\":\"125.2\",\"2021-22\":\"60.4\",\"2022-23\":\"79.1\",\"2023-24\":\"94.4\"}},\"Title\":\"Gross & Net Incurred Claims Ratio - Aviation\",\"xTitle\":\"Year\",\"yTitle\":\"Claim 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 4.7.5<\/span>Rural vs Urban Premium - Marine & Aviation<\/h3><div id=\"Chart_279\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        pie_chart(\"Chart_279\", {\"data\":{\"Rural Premium\":80,\"Urban Premium\":6052},\"Title\":\"\",\"SeriesTitle\":\"Rural vs Urban Premium - Marine & Aviation\",\"colorCodes\":[\"#7e8ac5\",\" #0070c0\"],\"dataLabelsFlag\":\"yes\"});\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","protected":false},"excerpt":{"rendered":"<p>The composition of the Marine and Aviation Insurance business is outlined below, highlighting an increase in premium values for Marine [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":272,"menu_order":7,"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\/284"}],"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=284"}],"version-history":[{"count":38,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/284\/revisions"}],"predecessor-version":[{"id":4187,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/284\/revisions\/4187"}],"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=284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}