Full formBusiness & Corporate
GPWstands forGross Premium Written
Full Form of GPW
What is GPW?
Gross Premium Written (GPW) is a key metric in the insurance industry representing the total premium amount an insurer collects from policies issued during a specific period, before deducting reinsurance ceded or accounting for policy cancellations. In India, GPW is widely used by both life and non-life insurers, especially by companies regulated by the Insurance Regulatory and Development Authority of India (IRDAI). It serves as an indicator of an insurer's market share, growth, and underwriting activity. Insurance companies report GPW in their quarterly and annual financial statements, making it important for analysts, investors, and regulators to assess the size and performance of the insurance sector. For students preparing for business or finance-related competitive exams like CAIIB, NISM, or insurance certification tests, understanding GPW is crucial as it often appears in questions about insurance metrics. The metric helps distinguish between gross and net premium, providing insight into how much risk an insurer retains versus transfers. In the Indian context, GPW figures are published by IRDAI in its annual report, highlighting the growth trajectories of public sector giants like LIC and emerging private players.
GPW का फुल फॉर्म
सकल प्रीमियम लिखित
Example
The IRDAI report showed that the non-life insurance sector's GPW grew by 12% in the last financial year, driven by strong motor and health insurance sales.
GPW — frequently asked questions
What is the full form of GPW?
GPW stands for Gross Premium Written, a measure of total premium collected by an insurer on policies issued during a period, before deducting reinsurance costs.
How is GPW different from Net Premium Written?
GPW is the total premium before reinsurance; Net Premium Written is GPW minus premiums ceded to reinsurers, reflecting retained risk.
Why is Gross Premium Written important for insurance companies in India?
GPW indicates market share, growth rate, and underwriting volume, helping investors and regulators like IRDAI assess the health of the Indian insurance sector.