| FORM NL-2-B-PL | ||||||
|---|---|---|---|---|---|---|
| Name of the Insurer: GENERAL INSURANCE CORPORATION OF INDIA | ||||||
| Registration No. 112 | ||||||
| Date of Registration with the IRDAI : 2nd April, 2001 | ||||||
| PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 30.09.2017 | ( ` IN 000) | |||||
| PARTICULARS | SCHEDULE | For the Three Months ending 30.09.2017 | Up to the Three Months ending 30.09.2017 | For the corresponding Three months of the preceeding year | Up to the corresponding three months of the prceeding year | |
| 1 | OPERATING PROFIT/(LOSS) | |||||
| (a) Fire Insurance | -7255 364 | -6163 746 | -2472 250 | -556 957 | ||
| (b) Marine Insurance | 3016 854 | 5258 314 | -50 915 | 2967 638 | ||
| (c ) Miscellaneous Insurance | 20944 149 | 18891 104 | 3716 446 | 6566 251 | ||
| (d) Life Insurance | 404 763 | 665 615 | -179 250 | -876 276 | ||
| 0 | 0 | |||||
| 2 | INCOME FROM INVESTMENTS | |||||
| (a) Interest, Dividend & Rent – Gross | 2457 867 | 4915 317 | 3000 224 | 5016 347 | ||
| (b) Profit on sale of investments | 474 659 | 1517 603 | 865 071 | 1429 826 | ||
| Less: Loss on sale of investments | 0 | 0 | ||||
| 3 | OTHER INCOME (To be specified) | |||||
| Foreign gain/(loss) | 85 122 | 85 122 | -70 881 | 239 367 | ||
| Profit on sale of Assets (Net) | - 2 | 0 | 0 | 0 | ||
| Sundry Balances Written Back (Net) | 0 | 0 | 0 | 0 | ||
| Interest on Income-tax Refund | 0 | 0 | 0 | 0 | ||
| (Provision)/doubtful debts written back | ||||||
| Motor Pool Service Charges | 0 | 0 | 0 | 0 | ||
| Miscellaneous Receipts | 1 329 | 2 415 | 3 206 | 3 800 | ||
| TOTAL (A) | 20129 377 | 25171 744 | 4811 651 | 14789 996 | ||
| 4 | Provision for Doubtful Loans & Investment | 822 042 | 1543 988 | 582 839 | 673 435 | |
| 5 | Provision /(written off) for Doubtful Debts | 107 338 | 354 156 | 2261 980 | 2261 980 | |
| 6 | Amortisation of premium on Investments | 59 806 | 111 554 | 45 189 | 91 222 | |
| 7 | Diminution in the value of investments written off | 0 | 0 | 0 | 0 | |
| 8 | OTHER EXPENSES | 0 | 0 | |||
| Expenses relating to Investments | 2 268 | 4 106 | 2 942 | 4 752 | ||
| Forex loss/(gain) | -90 396 | 0 | 0 | 0 | ||
| (profit)/Loss on sale of Assets (Net) | 21 | 21 | 0 | 0 | ||
| Interest & others | 11 998 | 12 001 | 0 | 0 | ||
| Corporate Social Responsibility | 865 | 15 988 | 76 840 | 127 980 | ||
| IPO expenses | 38 458 | 39 250 | 0 | 0 | ||
| TOTAL (B) | 952 400 | 2081 064 | 2969 790 | 3159 369 | ||
| Profit Before Tax | 19176 977 | 23090 680 | 1841 861 | 11630 627 | ||
| Provision for Taxation : | 0 | |||||
| Current Tax | 4238 692 | 4998 692 | -676 024 | 2072 498 | ||
| MAT Credit | 749 114 | 0 | 0 | 0 | ||
| Deferred Tax | -1 250 | 496 | 0 | 0 | ||
| Provision for Tax in respect of earlier years | 0 | 0 | 0 | 0 | ||
| MAT Credit of earlier year | - 755 | - 755 | 0 | 0 | ||
| Profit after Tax | 14191 176 | 18092 247 | 2517 885 | 9558 129 | ||
| Balance brought forward from last year | 31277 556 | 31277 556 | 874 | 874 | ||
| Profit available for appropriation | 45468 732 | 49369 803 | 2518 759 | 9559 003 | ||
| APPROPRIATIONS | 0 | |||||
| (a) Interim dividends paid during the year | 0 | 0 | 0 | 0 | ||
| (b) Proposed final dividend | 10020 000 | 10020 000 | 0 | 0 | ||
| (c) Dividend distribution tax | 2039 872 | 2039 872 | 0 | 0 | ||
| (d) Transfer to General Reserve | 19216 800 | 19216 800 | 0 | 0 | ||
| (e) Balance carried forward to Balance Sheet | 14192 060 | 18093 131 | 2518 759 | 9559 003 | ||
| 45468 732 | 49369 803 | 2518 759 | 9559 003 | |||
| Note 1 -The above profit includes prior period item (Net)-: | 1757330 | 0 | ||||
| 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. | ||||||