Colours
Green, amber, red: best, middle and weakest third of the insurers shown; a ringed cell is the best, a dashed ring the weakestBlue shading (no verdict): darker means a higher valueA dash means the insurer has not published that figure in a form we can read reliably (reasons are listed under Notes, below); it is left out of the ranking
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.
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.
Source: insurers’ public disclosures (IRDAI NL forms), latest quarter shown for each insurer. Figures as published by insurers; may differ from audited accounts.