**Executive Summary**
This document presents data for calculating the Motor Third Party (TP) obligation for the financial year 2022-23. It includes the Gross Direct Premium (GDP) values for various insurance companies for the financial year 2021-22, broken down by Motor Own Damage GDP, Motor Third Party GDP, Total Motor GDP, and Total GDP. All figures are in Crore Rupees.
**Key Points / Main Content**
* **Data Presentation:** The document provides a table outlining the financial data for each listed insurance company.
* **Financial Year:** The data pertains to the financial year 2021-22 and is used for calculation of TP obligation for FY 2022-23.
* **GDP Categories:** The GDP is categorised as:
* Motor Own Damage GDP
* Motor Third Party GDP
* Total Motor GDP
* Total GDP
* **Grand Total:** The grand total for each GDP category is provided:
* Motor Own Damage GDP: 27172.7
* Motor Third Party GDP: 43258.92
* Total Motor GDP: 70431.62
* Total GDP: 184785.1
**Impact Analysis**
**Insurance Companies**
* **Impact:** Insurance companies are required to review the data to understand their contribution to the motor TP obligations. The information helps each insurer assess their responsibility and financial planning for the upcoming financial year.
* **Action Required:** Insurers need to analyse their respective GDP figures and calculate their motor TP obligation for FY 2022-23 based on these figures.
**Regulatory Bodies**
* **Impact:** Regulatory bodies, like IRDAI, will use this data to assess the overall motor insurance market and ensure fair distribution of TP obligations among insurance companies.
* **Action Required:** The regulator needs to use this data to calculate and enforce TP obligations for each insurer, ensuring compliance and market stability.
**Policyholders**
* **Impact:** The calculation of TP obligations ensures funds are available to compensate third-party victims of road accidents, indirectly benefiting policyholders by maintaining a stable and reliable insurance system.
* **Action Required:** No immediate action is required.
Key Entities Referenced
Motor Third Party GDP: Motor Third Party Gross Domestic Product, used in the calculation of motor TP obligation.
Motor Own Damage GDP: Motor Own Damage Gross Domestic Product, used in the calculation of motor TP obligation.
Insurance Companies: Acko, Bajaj Allianz, Cholamandalam, Edelweiss, Future Generali, Go Digit, HDFC Ergo, ICICI Lombard, Iffco Tokio, Kotak Mahindra, Liberty, Magma HDI, National, Navi, New India, Oriental, Raheja QBE, Reliance, Royal Sundaram, SBI General, Shriram General, TATA AIG, United India, Universal Sompo. The data concerns the financial performance of these companies.