Combined Ratio in Indian Insurance

Definition

Sum of the Incurred Claims Ratio and the Expense of Management Ratio as defined in IRDAI NL-20. Below 100% = underwriting profitability. Note: two different denominators — net earned premium (claims) and net written premium (expenses).

Note: Regulatory-native from NL-20. Not applicable to life insurers (different accounting model).

Lowest to Highest

Latest available value per insurer — Q1 FY26-27

Note: a value marked "atypical quarter" below falls well outside this metric's usual range. This is almost always a one-off effect of a sharp premium swing or reserve adjustment in that specific quarter, as filed with IRDAI — not a representative measure of the insurer's ongoing performance.

Source: IRDAI public disclosures (NL-20). Click an insurer name for full provenance and historical data.
Machine-readable: this metric as JSON · all facts as CSV