| FORM NL-2-B-PL | ||||||
|---|---|---|---|---|---|---|
| Name of the Insurer:GENERAL INSURANCE CORPORATION OF INDIA | ||||||
| Registration No.112 | ||||||
| Date ofRegistration with the IRDAI : 2nd April, 2001 | ||||||
| PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 31.03.2018 | ( ` IN 000) | |||||
| PARTICULARS | SCHEDULE | For the Three Months ending 31.03.2018 | Up to the Twelve Months ending 31.03.2018 | For the corresponding Three months of the preceeding year | Up to the corresponding twelve months of the prceeding year | |
| 1 | OPERATING PROFIT/(LOSS) | |||||
| (a) Fire Insurance | 9091 525 | 1127 465 | 5843 591 | 5328 435 | ||
| (b)Marine Insurance | 749 409 | 5595 676 | -703 173 | 3843 073 | ||
| (c )Miscellaneous Insurance | -8820 300 | 16704 526 | 19844 466 | 16376 402 | ||
| (d) Life Insurance | -189 071 | -93 108 | -489 575 | -1086 073 | ||
| 0 | 0 | |||||
| 2 | INCOME FROM INVESTMENTS | |||||
| (a) Interest, Dividend & Rent – Gross | 2497 944 | 9818 498 | 2553 442 | 9552 386 | ||
| (b) Profit on sale of investments | 2777 739 | 5805 401 | 3373 769 | 5777 371 | ||
| Less: Loss on sale of investments | 0 | 0 | ||||
| 3 | OTHER INCOME (To be specified) | |||||
| Foreign gain/(loss) | 0 | 0 | -590 282 | 0 | ||
| Profit on sale of Assets (Net) | - 19 | 0 | 0 | 0 | ||
| Sundry Balances Written Back (Net) | 0 | 0 | 0 | 0 | ||
| Interest on Income-tax Refund | 73 008 | 73 008 | 0 | 166 816 | ||
| (Provision)/doubtful debts written back | ||||||
| Motor Pool Service Charges | 0 | 0 | 0 | 0 | ||
| Miscellaneous Receipts | 1 726 | 35 451 | 860 | 5 263 | ||
| TOTAL (A) | 6181 961 | 39066 917 | 29833 098 | 39963 673 | ||
| 4 | Provision for Doubtful Loans & Investment | -179 235 | 402 002 | -647 159 | 293 993 | |
| 5 | Provision /(written off) for Doubtful Debts | 350 412 | 874 993 | 39 671 | 2301 651 | |
| 6 | Amortisation of premium on Investments | 78 634 | 260 835 | 48 082 | 185 152 | |
| 7 | Diminution in the value of investments written off | 203 200 | 203 200 | 556 439 | 556 439 | |
| 8 | OTHER EXPENSES | 0 | 0 | |||
| Expenses relating to Investments | 5 266 | 12 355 | 5 040 | 12 776 | ||
| Foreox loss/(gain) | -181 348 | 230 262 | 156 455 | 156 455 | ||
| (profit)/Loss on sale of Assets (Net) | 27 | 27 | 2 101 | 2 216 | ||
| Interest & others | 5 873 | 93 662 | 54 904 | 56 165 | ||
| Corporate Social Responsibility | 152 811 | 177 779 | 10 309 | 160 272 | ||
| IPO expenses | 34 251 | 129 246 | 0 | 0 | ||
| TOTAL (B) | 469 891 | 2384 361 | 225 842 | 3725 119 | ||
| Profit Before Tax | 5712 070 | 36682 556 | 29607 256 | 36238 554 | ||
| Provision for Taxation : | 0 | |||||
| Current Tax | 707 791 | 6852 000 | 5656 260 | 6620 000 | ||
| Deferred Tax | -16 921 | -9 758 | -109 973 | -109 973 | ||
| MAT Credit of earlier year | - 755 | - 1 | 119 319 | |||
| Profit after Tax | 7515 976 | 32335 845 | 25728 444 | 31276 682 | ||
| Balance brought forward from last year | 0 | 31277 556 | 0 | 874 | ||
| Profit available for appropriation | 7515 976 | 63613 401 | 25728 444 | 31277 556 | ||
| APPROPRIATIONS | 0 | |||||
| (a)Interim dividends paid during the year | 0 | 0 | 0 | 0 | ||
| (b)Final dividend | 0 | 10020 000 | 0 | 0 | ||
| (c)Dividend distribution tax | 0 | 2039 871 | 0 | 0 | ||
| (d)Transfer to General Reserve |
0 |
19216 800 |
0 |
0 |
||
| (e) Balance carried forward to Balance Sheet | 7515 976 | 32336 730 | 25728 444 | 31277 556 | ||
| 7515 976 | 63613 401 | 25728 444 | 31277 556 | |||
| 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. | ||||||