India’s Leading BFSI Companies 2020

XLVII Segment wise gross direct premium Segmental premium revenue • Vehicle insurance, with a the highest market share (38%) grew by 9% on-year, whereas health insurance, with a market share of 30%, grew by 21%, in fiscal 2019. Fire, marine and other categories grew by 8%, 13% and 10% respectively. Also, public sector witnessed a decline of 8.1% in number of new policies issued, whereas private sector registerd a growth of 29.7% in FY19. Incurred claims ratio 60 70 80 90 100 Fire Health Marine Motor Others FY18 FY19 • The net incurred claims witnessed a growth of 17.98% on-year in FY19 as public sector general insurers, private sector general insurers and SAHI reported a growth of 14.74%, 23.77% and 40.43% respectively. However, specialized insurers reported a decline of 9.91% over the same period. • The incurred claims ratio (net incurred claims to net earned premium) of the general insurance industry stood at 89.16% in FY19, which was ~4% higher than FY18. The incurred claims ratio for public sector insurance was 103.46% in FY19, ~10%higher than previous fiscal. Private sector general insurers, SAHI and special insurers incurred claims ratio of 76.2%, 60.7% and 106.3% respectively. Profitability General Insurers PAT • Profit after tax (PAT) of general and health insurers was ` 683.21 cr in FY19, asignificant decline from ` 6,908.8 cr in previous fiscal. This was due to Public sector insurers registering loss of ` 3,287.9 cr in FY19 as compared to profit of ` 2,542.70 cr. Standalone health insurers too registered loss of ` 298 cr in FY19. -4000 -2000 0 2000 4000 6000 Public Sector Private Sector SAHI Specialized Insurers ` cr FY18 FY19 Dun & Bradstreet