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 30.09.2014						( ` IN 000)
Sr. No.	PARTICULARS	SCHEDULE	For the quarter ending 30.09.2014	Up to the quarter ending 30.09.2014	For the corresponding quarter of the preceeding year	Up to the Quarter of the prceeding year
1	OPERATING PROFIT/(LOSS)
	(a) Fire Insurance		-2123941	-3798	-4355959	-3267758
	(b)Marine Insurance		1663502	2185231	2112776	3071032
	(c )Miscellaneous Insurance		8505184	11716689	6670780	8719910
	(d) Life Insurance		218009	204189	-139121	-153453
2	INCOME FROM INVESTMENTS
	(a) Interest, Dividend & Rent – Gross		2286893	3881331	1913063	3328067
	(b) Profit on sale of investments		819408	2310942	885469	1224698
	Less: Loss on sale of investments
3	OTHER INCOME (To be specified)
	Profit on Exchange		-926	-60077	512094	1134586
	Profit on sale of Assets (Net)		74	74	12	52
	Sundry Balances Written Back (Net)		0	0	0	0
	Interest on Income-tax Refund		0	757504	0	54695
	Motor Pool Service Charges		1040	1717	39372	39372
	Miscellaneous Receipts		3425	4466	325	1655
	TOTAL (A)		11372668	20998268	7638811	14152856
4	Provision for Doubtful Loans, Investment & Debts		243761	271220	503568	1335002
5.	Amortisation of premium on Investments		46737	93853	51373	102220
6.	Diminution in the value of investments written off		0	0	0	0
7.	OTHER EXPENSES		0		0
	Expenses relating to Investments		2281	3652	1605	2698
	Loss on Exchange		0	0	0	0
	Loss on sale of Assets (Net)		-2	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	310848	333378	738780
	Corporate Social Responsibility		0	10000
	TOTAL (B)		292777	689573	889924	2178700
	Profit Before Tax		11079891	20308695	6748887	11974156
	Provision for Taxation :
	Current Tax		2288732	4198883	2216780	2216780
	Wealth Tax		7259	7259	-922739	-315
	Mat Tax		0	0	-1832797	-1832797
	Deferred Tax		0	0	418900	0
	Fringe Benefit Tax		0	0	0	0
	Provision for Tax in respect of earlier years		0	0	0	0
	Profit after Tax		8783900	16102553	6868743	11590488
	Balance brought forward from last year		0	896	0	-9060889
	Profit available for appropriation		8783900	16103449	6868743	2529599
	APPROPRIATIONS
	(a)Interim dividends paid during the year
	(b)Proposed final dividend		0	0	0	1182500
	(c)Dividend distribution tax		0	0	0	200966
	(d)Transfer to General Reserve		0	0	0	0
	(e) Balance carried forward to Balance Sheet		8773897	16103449	6868742	1146133
			8773897	16103449	6868742	2529599
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 otheritems.
(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.