Business profile
Colours
How it is calculated
Premium, policies, line-of-business mix and headline ratios. Premium, growth, line mix and headline ratios, one row per insurer, same quarter for everyone. Forms used: NL-35 · NL-36 · NL-4 · NL-20. Amounts are in ₹ crore.
- Gross premium
- Premium written before reinsurance. Shown in ₹ crore (1 crore = 100 lakh); the source forms print ₹ lakh.
- Retention
- Net premium divided by gross premium. A low figure means the insurer passes a large share of risk to reinsurers.
- Claims ratio
- Claims incurred as a share of premium earned. Health and motor books usually run higher than property.
- Combined ratio
- Claims plus expenses against premium. Under 100% is an underwriting profit; over 100% means the insurer relies on investment income.
- Why one quarter looks different
- Quarter ratios swing with seasonality and crop or large-loss events. Compare insurers only for the same period, as this page does.
Every number
Source: insurers’ own IRDAI public disclosures (NL forms). Only insurers with the forms needed for each page are shown. Insurers are never compared across different periods. Not affiliated with IRDAI. The source document is the official record.
Distribution & costs
Colours
How it is calculated
Who sells the policies, and what selling and running them costs. Channel mix (agents, banks, brokers, direct, MISP, online and others) next to commission and expense ratios, one row per insurer. Forms used: NL-36 · NL-35 · NL-6 · NL-20. Amounts are in ₹ crore.
- Channel share
- Share of gross premium that came through each channel in the year to date. Seven groups: Agents, Banks, Brokers, Direct, MISP (motor dealers and service providers), Online (web aggregators) and Other (point-of-sale persons, other corporate agents, marketing firms, common service centres, micro agents, referrals). Each insurer’s bar adds to 100%; the percentages shown are rounded so that they add to exactly 100.
- Expenses of management
- All operating expenses including commission, as a share of gross premium (NL-20). Commission is part of it. IRDAI sets overall limits on this.
- Net commission
- Commission paid less commission earned from reinsurers, as a share of net premium. It is on a different base from expenses of management, so the two are not directly comparable. It can be negative; that does not mean agents were paid nothing.
- Gross commission
- Commission as a share of gross premium, the same base as expenses of management. Other running costs = expenses of management minus gross commission. Shown only where the NL-6 layout could be reconciled to the NL-20 net commission ratio. Otherwise the cell shows a dash.
- Reading the scatter
- A dot is one insurer. A pattern across dots shows an association between channel mix and cost; it does not prove one drives the other, because product mix differs.
Every number
Source: insurers’ own IRDAI public disclosures (NL forms). Only insurers with the forms needed for each page are shown. Insurers are never compared across different periods. Not affiliated with IRDAI. The source document is the official record.
Claims & customer outcomes
Colours
How it is calculated
How claims are settled, how long they take, and what customers complain about. Settlement, rejection and ageing of claims, plus policyholder complaints, one row per insurer. Forms used: NL-37 · NL-38 · NL-39 · NL-45. Amounts are in ₹ crore.
- Settled / repudiated / outstanding
- Shares of claims on hand (opening outstanding plus reported). Repudiated means rejected. Outstanding is still open, not necessarily unpaid for long.
- Paid within 3 months
- Share of paid claims settled within three months of the claim date. Long-tail liability and crop claims naturally take longer.
- Complaints per 10,000 policies
- All complaints registered this quarter (claims and policy related) per 10,000 policies issued year to date. It is deliberately simple and will not match the insurer’s own “policy complaints per 10,000” line, which leaves out claim complaints. A rough guide only; customers differ in size and product.
- Annual claims data (NL-38)
- Published once a year, so it is not mixed into these quarterly figures.
- Complaint shares
- Rejected and still-pending complaints are shown as a share of complaints on hand: the opening balance plus new complaints this quarter.
- Year-to-date vs quarter
- NL-37 is cumulative for the year; NL-45 is for the quarter. Each block says which it is.
Every number
Source: insurers’ own IRDAI public disclosures (NL forms). Only insurers with the forms needed for each page are shown. Insurers are never compared across different periods. Not affiliated with IRDAI. The source document is the official record.
Financial strength & risk
Colours
How it is calculated
Four separate views: performance, balance sheet, solvency and risk management. Four separate blocks, each comparing the insurers on its own measures. A good result in one block does not make up for a weak result in another. Forms used: NL-20 · NL-23 – NL-26 · NL-28 – NL-33. Amounts are in ₹ crore.
- 1. Performance
- Profit and loss ratios for the quarter. Says how the business is earning, not whether it is safe.
- 2. Balance sheet
- Assets, investments and reserves. Reserves include IBNR, an estimate of claims not yet reported.
- 3. Solvency margin
- Available margin divided by required margin. IRDAI’s floor is 1.50×. Figures are recomputed from the two amounts.
- 4. Risk management
- Non-performing investments, credit quality of the debt book and how reinsurance premium is spread (NL-33). Heavy dependence on a few or lower-rated reinsurers is the risk to watch.
- Standing in for each other
- No block is used as a stand-in for another. For example, a strong solvency ratio does not offset concentrated reinsurance.
Every number
Source: insurers’ own IRDAI public disclosures (NL forms). Only insurers with the forms needed for each page are shown. Insurers are never compared across different periods. Not affiliated with IRDAI. The source document is the official record.