Claim Settlement Ratio Life & Non-Life Insurance

General and Life Insurers Incurred Claim Ratio

Company Type 2020 2021 2022
Acko General Insurance Ltd. General Insurance 93.4993.6597.2
Bajaj Allianz General Insurance Co. Ltd. General Insurance 98.6194.7396.59
Bharti AXA General Insurance Co. Ltd. General Insurance 92.1792.810
Cholamandalam MS General Insurance Co. Ltd. General Insurance 91.4792.9493.23
Edelweiss General Insurance Co. Ltd. General Insurance 99.7297.897.26
Future Generali India Insurance C. Ltd. General Insurance 93.3493.7496.01
Go Digit General Insurance Ltd. General Insurance 99.6594.2496.09
HDFC ERGO General Insurance Co. Ltd. General Insurance 99.898.3698.49
ICICI Lombard General Insurance Co. Ltd. General Insurance 96.9396.9397.07
IFFCO Tokio General Insurance Co. Ltd. General Insurance 81.6782.5789.38
Kotak Mahindra General Insurance Co. Ltd. General Insurance 98.6296.0196.9
Liberty General Insurance Ltd. General Insurance 97.8495.5797.3
Magma HDI General Insurance Co. Ltd. General Insurance 95.493.6392.34
Navi General Insurance Ltd. General Insurance 98.799.9999.99
Raheja QBE General Insurance Co. Ltd. General Insurance 30.2995.5193.3
Reliance General Insurance Co. Ltd. General Insurance 98.1698.5998.65
Royal Sundaram General Insurance Co. Ltd. General Insurance 97.7597.7495.95
SBI General Insurance Co. Ltd. General Insurance 97.8499.7595.04
Shriram General Insurance Co. Ltd. General Insurance 87.5385.7885.23
Tata AIG General Insurance Co. Ltd. General Insurance 92.8290.7893.55
Universal Sompo General Insurance Co. Ltd. General Insurance 22.149495.77
National Insurance Co. Ltd. General Insurance 45.3757.886.28
The New India Assurance Co. Ltd. General Insurance 91.9986.5192.93
The Oriental Insurance Co. Ltd. General Insurance 92.7191.2290.18
United India Insurance Co. Ltd. General Insurance 89.1896.9497.25
Agriculture Insurance Co. of India Ltd. General Insurance 83.9969.8366.71
Export Credit Guarantee Corporation of India Ltd. General Insurance 53.3558.3155.51
Aditya Birla Health insurance Co. Ltd. General Insurance 99.3699.7399.41
Care Health Insurance General Insurance 100100100
HDFC ERGO Health Insurance Co. Ltd. General Insurance 000
ManipalCigna Health Insurance Co. Ltd. General Insurance 99.9699.9799.9
Niva Bupa Health Insurance Co. Ltd. General Insurance 99.9199.9399.99
Reliance Health Insurance Ltd. General Insurance 97.13076.36
Star Health and Allied Insurance Co. Ltd. General Insurance 99.999.6499.06
Aditya Birla Sun Life Insurance Co. Ltd. Life Insurance 97.5498.0498.07
Aegon Life Insurance Co. Ltd. Life Insurance 98.0199.2599.03
Ageas Federal Life Insurance Co. Ltd. Life Insurance 095.0797.03
Aviva Life Insurance Co. Ltd. Life Insurance 97.5398.0198.39
Bajaj Allianz Life Insurance Co. Ltd. Life Insurance 98.0298.4899.02
Bharti AXA Life Insurance Co. Ltd. Life Insurance 97.3599.0599.09
Canara HSBC OBC Life Insurance Co. Ltd. Life Insurance 98.1297.198.44
Edelweiss Tokio Life Insurance Co. Ltd. Life Insurance 83.4497.0198.09
Exide Life Insurance Co. Ltd. Life Insurance 98.1598.5499.09
Future Generali Life Insurance Co. Ltd. Life Insurance 95.2894.8696.15
HDFC Life Insurance Co. Ltd. Life Insurance 99.0798.0198.66
ICICI Prudential Life Insurance Co. Ltd. Life Insurance 97.8497.997.82
IndiaFirst Life Insurance Co. Ltd. Life Insurance 96.6596.8196.92
Kotak Mahindra Life Insurance Co. Ltd. Life Insurance 96.3898.598.82
Max Life Insurance Co. Ltd. Life Insurance 99.2299.3599.34
PNB MetLife India Insurance Co. Ltd. Life Insurance 97.1898.1797.33
Pramerica Life Insurance Co. Ltd. Life Insurance 98.4298.6198.3
Reliance Nippon Life Insurance Co. Ltd. Life Insurance 98.1298.4998.67
Sahara India Life Insurance Co. Ltd. Life Insurance 89.4597.1897.08
SBI Life Insurance Co. Ltd. Life Insurance 94.5293.0997.05
Shriram Life Insurance Co. Ltd. Life Insurance 91.6195.1282.39
Star Union Dai-ichi Life Insurance Co. Ltd. Life Insurance 96.9695.9697.42
TATA AIA Life Insurance Co. Ltd. Life Insurance 99.0698.0298.53
Life Insurance Corporation of India Life Insurance 96.6998.6298.74

Claim Settlement Ratio

General Insurers

The table showcases the year-wise claim settlement ratio of all General insurance companies for the financial year 2021-22. The claim settlement ratio (CSR) indicates the credibility of the insurer and its capacity to settle claims in a particular financial year. It is calculated as the ratio of Total claims settled/Total claims incurred. According to the IRDAI report 2021-22, the leading General Insurance providers with the highest CSR are

  • Niva Bupa Health Insurance - 99.99%
  • ManipalCigna Health Insurance - 99.9%
  • Star Health and Allied Insurance - 99.06%

Life Insurers

The table showcases the year-wise claim settlement ratio of all Life insurance companies for the financial year 2021-22. The claim settlement ratio (CSR) indicates the credibility of the insurer and its capacity to settle claims in a particular financial year. It is calculated as the percentage of claims settled by an insurance company in a given year as a percentage of the total number of claims received. In general, the higher the ratio, the more reliable the insurer. According to the IRDAI report 2021-22, the leading Life Insurance providers with the highest CSR are

  • Max Life Insurance - 99.34%
  • Bharti AXA Life Insurance - 99.09%
  • Exide Life Insurance - 99.09%