{"id":296,"date":"2019-07-29T09:20:24","date_gmt":"2019-07-29T09:20:24","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=296"},"modified":"2025-01-30T09:21:52","modified_gmt":"2025-01-30T09:21:52","slug":"reinsurance","status":"publish","type":"page","link":"https:\/\/yearbook.websitestage.org\/?page_id=296","title":{"rendered":"Section 05: Reinsurance"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\">Net Retention of Insurance Companies (After Cessions to Reinsurers)<\/h4>\n\n\n\n<p><\/p>\n\n\n\n<p>The Gross Written and Net Written Premiums during the period 2014-15 to 2023-24 are as follows:<\/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 5.1.1<\/span>Gross Written premium & Net Written Premium<\/h3><div id=\"Chart_308\"><\/div><script type=\"text\/javascript\">\n                     jQuery(document).ready(function () {\n                         multiple_column_line(\"Chart_308\",{\"data\":{\"Gross Written Premium\":{\"2014-15\":90365,\"2015-16\":102396,\"2016-17\":134177,\"2017-18\":156629,\"2018-19\":175899,\"2019-20\":195202,\"2020-21\":206906,\"2021-22\":229792,\"2022-23\":266591,\"2023-24\":300343},\"Net Written Premium\":{\"2014-15\":71300,\"2015-16\":81450,\"2016-17\":94178,\"2017-18\":107411,\"2018-19\":120386,\"2019-20\":130187,\"2020-21\":147038,\"2021-22\":165514,\"2022-23\":192604,\"2023-24\":220873}},\"Title\":\"Gross Written premium & Net Written Premium\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crores\",\"zTitle\":\"Retention 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\"},\"zAxisData\":{\"2014-15\":78.9,\"2015-16\":79.5,\"2016-17\":70.2,\"2017-18\":68.6,\"2018-19\":68.4,\"2019-20\":66.7,\"2020-21\":71.1,\"2021-22\":72,\"2022-23\":72.2,\"2023-24\":73.5},\"colorLine\":\"#002060\",\"colorCodes\":{\"1\":\"#7e8ac5\",\"2\":\"#0070c0\"}});\n                     });\n                 <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em><strong>Source<\/strong>: <em>Council Compilation as per source data submitted by companies<\/em><\/em><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p><\/p>\n<\/blockquote>\n\n\n\n<p>Steady growth of Gross Written Premium and Net Written Premium over the past 10 years has been observed since 2014.<\/p>\n\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Table 5.1.1<\/span> Gross Written Premium and Net Written Premium, Retention Ratio<\/h3>\n\n\n\n<table class=\"wp-block-table tablessgei\">\n    <thead>\n        <tr>\n           \n            <th rowspan=\"2\"><\/th>\n                      \n            <th colspan=\"3\">2021-22<\/th>\n            <th colspan=\"3\">2022-23<\/th>\n            <th colspan=\"3\">2023-24<\/th>\n        <\/tr>\n    <\/thead>    <tbody>    <tr>\n       \n        <td><\/td>\n        \n     \n        <td>GWP<\/td>\n        <td>NWP<\/td>\n        <td>Retention Ratio<\/td>\n        \n     \n        <td>GWP<\/td>\n        <td>NWP<\/td>\n        <td>Retention Ratio<\/td>\n        \n       \n        <td>GWP<\/td>\n        <td>NWP<\/td>\n        <td>Retention Ratio<\/td>\n    <\/tr>  \n\n    <tr>     \n        <td style=\"text-align: left;\">Private Sector<\/td>    \n        \n        <td>1,12,621<\/td>\n        <td>71,722<\/td>\n        <td>63.7%<\/td>\n        <td>1,35,295<\/td>\n        <td>87,069<\/td>\n        <td>64.4%<\/td>\n\n        <td>1,58,918<\/td>\n        <td>1,03,070<\/td>\n        <td>64.9%<\/td>\n    <\/tr> \n    \n    \n    <tr>     \n        <td style=\"text-align: left;\">Public Sector<\/td>\n         \n        <td>81,191<\/td>\n        <td>67,639<\/td>\n        <td>83.3%<\/td>\n        <td>89,024<\/td>\n        <td>74,105<\/td>\n        <td>83.2%<\/td>\n\n        <td>97,257<\/td>\n        <td>81,788<\/td>\n        <td>84.0%<\/td> \n    <\/tr> \n\n    <tr>     \n        <td style=\"text-align: left;\">Standalone Health<\/td>\n        \n        <td>20,934<\/td>\n        <td>18,388<\/td>\n        <td>87.6%<\/td>\n        <td>26,340<\/td>\n        <td>23,650<\/td>\n        <td>89.8%<\/td>\n\n        <td>33,277<\/td>\n        <td>29,084<\/td>\n        <td>87.4%<\/td>\n    <\/tr> \n    \n    <tr>     \n        <td style=\"text-align: left;\">Specialized Company<\/td>\n        \n        <td>15,047<\/td>\n        <td>7,815<\/td>\n        <td>51.9%<\/td>\n        <td>15,932<\/td>\n        <td>7,781<\/td>\n        <td>48.8%<\/td> \n        \n        <td>11,391<\/td>\n        <td>6,931<\/td>\n        <td>60.8%<\/td>\n    <\/tr> \n    \n     <tr>     \n        <td style=\"text-align: left;\">Total<\/td>\n        \n        <td>2,29,792<\/td>\n        <td>1,65,514<\/td>\n        <td>72.0%<\/td>\n        <td>2,66,591<\/td>\n        <td>1,92,604<\/td>\n        <td>72.2%<\/td>    \n        \n        <td>3,00,843<\/td>\n        <td>2,20,873<\/td>\n        <td>73.4%<\/td>\n    <\/tr> \n    \n<\/tbody>\n<\/table>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"> <em><strong>Source<\/strong>: <em>Council Compilation as per source data submitted by companies<\/em><\/em><\/p>\n\n\n\n<p><strong>Note:<\/strong> The ceded premium of specialized companies includes premium ceded to other Indian Non-Life insurance companies in addition to GIC Re &amp; FRB&#8217;s<\/p>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><\/p>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Net Retention of Insurance Companies (After Cessions to Reinsurers) The Gross Written and Net Written Premiums during the period 2014-15 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":26,"menu_order":10,"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\/296"}],"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=296"}],"version-history":[{"count":75,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/296\/revisions"}],"predecessor-version":[{"id":4142,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/296\/revisions\/4142"}],"up":[{"embeddable":true,"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=\/wp\/v2\/pages\/26"}],"wp:attachment":[{"href":"https:\/\/yearbook.websitestage.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}