Page 39 - Insurance Times March 2017 Sample

Following chart illustrate Indian Insurance Markets Growth.
INDIAN MARKET DATA

Based on SIGMA Report of Swiss Re
Figures in BLNS

Density Penetration
Gross Direct Premiums Per Capita Premiums Insurance Premium
as % of GDP
Year Life Non Life Total Life Non Life Total Life Non Life Total
I.Rs. = US$ I.Rs. = US$ I.Rs. = US$ US$ US$ US$
2001 500.94 9.42 126.11 2.46 627.05 11.88 9.10 2.40 11.50 2.15% 0.56% 2.71%
2002 557.38 11.52 152.45 3.15 709.83 14.67 10.00 3.00 13.00 2.20% 0.60% 2.80%
2003 662.88 13.59 170.33 301 833.21 17.30 12.90 3.50 16.40 2.26% 0.62% 2.88%
2004 786.30 17.50 184.56 4.11 970.86 21.61 15.70 4.00 19.70 2.53% 0.65% 3.18%
2005 1,000.01 22.59 213.54 4.82 1,213.5 27.41 18.30 4.40 22.70 2.53% 0.61% 3.14%
2006 1,560.42 34.58 259.30 5.75 1,819.72 40.33 33.20 5.20 38.40 4.10% 0.60% 4.70%
2007 2,013.51 50.18 304.81 7.60 2,318.32 57.78 40.40 6.20 46.60 4.09% 0.61% 4.70%
2008 2,180.76 48.86 327.12 7.33 2,507.88 56.19 41.20 5.20 46.40 4.00% 0.60% 4.60%
2009 2,736.05 57.12 381.82 7.97 3,117.87 65.09 47.20 6.70 53.90 4.60% 0.60% 5.20%
2010 3,097.49 67.81 482.48 10.58 3,579.97 78.39 55.70 8.70 64.40 4.40% 0.70% 5.10%
2011 2,893.70 60.44 583.44 12.19 3,477.14 72.63 49.00 10.00 59.00 3.40% 0.70% 4.10%
2012 2,872.00 52.75 712.00 13.08 3,584.00 65.83 42.70 10.50 53.20 3.17% 0.78% 3.95%
2013 3,161.00 52.17 812.00 13.40 3,972.00 65.57 41.00 11.00 52.00 3.10% 0.80% 3.90%
2014 3,380.59 55.30 891.94 80.59 4,272.53 69.89 44.00 11.00 55.00 2.60% 0.70% 3.30%
2015 3709.49 56.68 988.52 15.1 4698.51 71.78 43.2 11.5 54.7 2.72% 0.72% 3.44%
Est.
2016 4,500.00 67.17 1250.00 16.41 5,750.00 83.58 44.00 12.00 56.00 2.80% 75.00% 3.55%
2017 5,000.00 1500.00 6,500.00

C) National Reinsurer GIC RE with effect from 1st April 2001.

GIC Re's track record as national reinsurer is brilliant from 2000/1 to 2015-16.
GIC Re's financial highlights are reveled in following track records.
All figures in BLNS of Rs.
Eads Gross Earned Incurred Net PBT PAT Total Dividend Combined
Premium Premium Claims Commission Assets Ratio
2001-02 33 24 23 6 4 3 104 20 121
2002-03 45 32 27 9 3 3 117 22 116
2003-04 46 40 29 11 13 10 164 30 100
2004-05 51 44 37 12 8 2 196 30 113
2005-06 49 45 46 11 4 6 264 20 128
2006-07 74 53 36 17 18 15 285 72 101
2007-08 93 72 60 21 11 10 360 46 113

The Insurance Times, March 2017 39

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