| FORM NL-2-B-PL | ||||||
|---|---|---|---|---|---|---|
| Name of the Insurer: GENERAL INSURANCE CORPORATION OF INDIA | ||||||
| Registration No. 112 | ||||||
| Date of Registration with the IRDA : 2nd April, 2001 | ||||||
| PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 30.06.2013 | ( ` IN 000) | |||||
| PARTICULARS | SCHEDULE | FOR THE QUARTER | THREE MONTH ENDING 30.06.2013 | FOR THE QUARTER OF THE PRECEDING YEAR | THREE MONTH ENDING 30.06.2012 | |
| 1 | OPERATING PROFIT/(LOSS) | |||||
| (a) Fire Insurance | 0 | 1088 201 | 0 | 316 842 | ||
| (b) Marine Insurance | 0 | 958 256 | 0 | -44 429 | ||
| (c ) Miscellaneous Insurance | 0 | 2049 130 | 0 | 31 738 | ||
| (d) Life Insurance | 0 | -14 332 | 0 | -69 054 | ||
| 2 | INCOME FROM INVESTMENTS | |||||
| (a) Interest, Dividend & Rent – Gross | 0 | 1415 005 | 0 | 1012 356 | ||
| (b) Profit on sale of investments | 0 | 339 229 | 0 | 94 405 | ||
| Less: Loss on sale of investments | ||||||
| 3 | OTHER INCOME (To be specified) | |||||
| Profit on Exchange | 0 | 622 492 | 0 | 2100 662 | ||
| Profit on sale of Assets (Net) | 0 | 40 | 0 | 13 | ||
| Sundry Balances Written Back (Net) | 0 | 0 | 0 | 0 | ||
| Interest on Income-tax Refund | 0 | 54 696 | 0 | 0 | ||
| Motor Pool Service Charges | 0 | 0 | 0 | 27 227 | ||
| Miscellaneous Receipts | 0 | 1 330 | 0 | 6 975 | ||
| TOTAL (A) | 0 | 6514 047 | 0 | 3476 735 | ||
| 4 | Provision for Doubtful Loans, Investment & Debts | 0 | 831 434 | 0 | -29 363 | |
| 5. | Amortisation of premium on Investments | 0 | 50 847 | 0 | 45 987 | |
| 6. | Diminution in the value of investments written off | 0 | 0 | 0 | 0 | |
| 7. | OTHER EXPENSES | 0 | 0 | |||
| Expenses relating to Investments | 0 | 1 093 | 0 | 1 841 | ||
| Loss on Exchange | 0 | 0 | 0 | 0 | ||
| Loss on sale of Assets (Net) | 0 | 0 | 0 | 0 | ||
| Sundry Balances Written off (Net) | 0 | 0 | 0 | 0 | ||
| Loss on Distribution of LPA Assets | 0 | 0 | 0 | 0 | ||
| Interest on Service Tax | 0 | 405 403 | 0 | 0 | ||
| TOTAL (B) | 0 | 1288 777 | 0 | 18 465 | ||
| Profit Before Tax | 0 | 5225 270 | 0 | 3458 270 | ||
| Provision for Taxation : | 0 | |||||
| Current Tax | 0 | 922 424 | 0 | 555 900 | ||
| Wealth Tax | 0 | 0 | 0 | 0 | ||
| Mat Tax | 0 | -418 900 | 0 | -555 900 | ||
| Deferred Tax | 0 | 0 | 0 | 61 774 | ||
| Fringe Benefit Tax | 0 | 0 | 0 | 0 | ||
| Provision for Tax in respect of earlier years | 0 | 0 | 0 | 0 | ||
| Profit after Tax | 0 | 4721 746 | 0 | 3396 496 | ||
| APPROPRIATIONS | ||||||
| (a) Interim dividends paid during the year | ||||||
| (b) Proposed final dividend | 0 | 1182 500 | 0 | 0 | ||
| (c) Dividend distribution tax | 0 | 200 966 | 0 | 0 | ||
| (d) Transfer to General Reserve | 0 | 0 | 0 | 0 | ||
| (e) Balance carried forward to Balance Sheet | 0 | -5722 608 | 0 | -2 128 | ||
| Notes: to Form NL-1-B-RA and NL-2-B- PL | ||||||
| (a) Premium income received from business concluded in and outside India shall be separately disclosed. | ||||||
| (b) Reinsurance premiums whether on business ceded or accepted are to be brought into account gross (i.e. before deducting commissions) under the head reinsurance premiums. | ||||||
| (c) Claims incurred shall comprise claims paid, specific claims settlement costs wherever applicable and change in the outstanding provision for claims at the year-end,. | ||||||
| (d) Items of expenses and income in excess of one percent of the total premiums (less reinsurance) or Rs.5,00,000 whichever is higher, shall be shown as a separate line item. | ||||||
| (e) Fees and expenses connected with claims shall be included in claims. | ||||||
| (f) Under the sub-head "Others” shall be included items like foreign exchange gains or losses and other items. | ||||||
| (g) Interest, dividends and rentals receivable in connection with an investment should be stated as gross amount, the amount of income tax deducted at source being included under 'advance taxes paid and taxes deducted at source”.. | ||||||
| (h) Income from rent shall include only the realised rent. It shall not include any notional rent. | ||||||