Combined ratio in own-damage motor insurance India FY 2019 by insurer
In financial year 2019, the public sector insurer, New India Assurance had the highest combined ratio at a whopping 124 percent in the own-damage motor insurance segment. On the other hand, the private insurance company, ICICI Lombard had a combined ratio of 93.2 percent that same year.
The combined ratio measures the amount of money spent by an insurance company in the form of dividends, expenses and losses. A ratio below 100 percent indicates that the company is making an underwriting profit, while a ratio above 100 percent shows that the company is spending more than what it earns in insurance premiums.
The combined ratio measures the amount of money spent by an insurance company in the form of dividends, expenses and losses. A ratio below 100 percent indicates that the company is making an underwriting profit, while a ratio above 100 percent shows that the company is spending more than what it earns in insurance premiums.
