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FORM NL-2-B-PL |
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Name of the Insurer: GENERAL INSURANCE CORPORATION OF INDIA |
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Registration No. 112 |
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Date of Registration with the IRDAI : 2nd April, 2001 |
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PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 31.12.2019 |
( ` IN 000) |
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PARTICULARS |
SCHEDULE |
For the Three Months ending 31.12.2019 |
Up to the Nine Months ending 31.12.2019 |
For the corresponding Three months of the preceeding year |
Up to the corresponding Nine months of the prceeding year |
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1 |
OPERATING PROFIT/(LOSS) |
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(a) Fire Insurance |
-7599 385 |
-12766 539 |
-3211 251 |
-8189 791 |
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(b) Marine Insurance |
1002 495 |
887 849 |
296 238 |
1766 133 |
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(c ) Miscellaneous Insurance |
-5304 069 |
(6402 848) |
12042 056 |
18803 755 |
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(d) Life Insurance |
789 799 |
494 947 |
-139 949 |
(103 023) |
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2 |
INCOME FROM INVESTMENTS |
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(a) Interest, Dividend & Rent – Gross |
1653 008 |
6444 191 |
2368 964 |
7641 970 |
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(b) Profit on sale of investments |
2153 664 |
4466 391 |
1711 453 |
4979 290 |
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Less: Loss on sale of investments |
0 |
0 |
0 |
0 |
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3 |
OTHER INCOME (To be specified) |
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Foreign gain/(loss) |
0 |
445 659 |
-670 464 |
978 256 |
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Profit on sale of Assets (Net) |
0 |
0 |
0 |
0 |
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Sundry Balances Written Back (Net) |
153 773 |
0 |
0 |
0 |
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Interest on Income-tax Refund |
0 |
0 |
0 |
0 |
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(Provision)/doubtful debts written back |
0 |
0 |
0 |
0 |
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Motor Pool Service Charges |
0 |
0 |
0 |
0 |
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Miscellaneous Receipts |
2 057 |
16 803 |
1 467 |
34 224 |
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TOTAL (A) |
-7148 658 |
-6413 547 |
12398 514 |
25910 814 |
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4 |
Provision for Doubtful Loans & Investment |
3208 940 |
8259 461 |
1960 398 |
2818 972 |
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5 |
Provision /(written off) for Doubtful Debts |
78 177 |
304 812 |
-141 944 |
335 670 |
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6 |
Amortisation of premium on Investments |
81 667 |
234 844 |
75 642 |
231 621 |
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7 |
Diminution in the value of investments written off |
0 |
0 |
4 500 |
4 500 |
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8 |
OTHER EXPENSES |
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Expenses relating to Investments |
0 |
0 |
0 |
0 |
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Forex loss/(gain) |
0 |
0 |
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(Profit)/Loss on sale of Assets (Net) |
2 423 |
2 450 |
- 73 |
157 |
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Sundry Balances Written off (Net) |
6 |
446 |
0 |
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Interest & others |
0 |
10 |
0 |
7 132 |
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Corporate Social Responsibility |
139 435 |
255 030 |
98 950 |
115 369 |
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IPO expenses |
0 |
0 |
0 |
0 |
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TOTAL (B) |
3510 648 |
9057 053 |
1997 473 |
3513 421 |
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Profit Before Tax |
-10659 306 |
-15470 600 |
10401 041 |
22397 393 |
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Provision for Taxation : |
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Current Tax |
30 922 |
90 413 |
4,176,200 |
6171 200 |
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Wealth Tax |
0 |
0 |
0 |
0 |
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MAT Credit |
0 |
0 |
0 |
0 |
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Deferred Tax |
6 171 |
3 970 |
874,483 |
16 833 |
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Fringe Benefit Tax |
0 |
0 |
0 |
0 |
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Provision for Tax in respect of earlier years |
0 |
0 |
0 |
0 |
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MAT Credit of earlier year |
0 |
0 |
1,993,660 |
0 |
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Profit after Tax |
-10696 399 |
-15564 983 |
3356 698 |
16209 360 |
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Appropriations |
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Balance brought forward from last year |
0 |
40303 305 |
0 |
32336 730 |
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(a) Interim dividends paid during the year |
0 |
0 |
0 |
0 |
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(b) Final dividend |
0 |
11842 200 |
0 |
11842 200 |
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(c) Dividend distribution tax |
0 |
2434 283 |
0 |
2434 282 |
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(d) Transfer to General Reserve |
0 |
0 |
0 |
0 |
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(e) Balance carried forward to Balance Sheet |
-10696 399 |
10461 839 |
3356 698 |
34269 608 |
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Notes: to Form NL-1-B-RA and NL-2-B- PL |
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(a) Premium income received from business concluded in and outside India shall be separately disclosed. |
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(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. |
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(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,. |
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(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. |
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(e) Fees and expenses connected with claims shall be included in claims. |
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(f) Under the sub-head "Others” shall be included items like foreign exchange gains or losses and other items. |
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(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”.. |
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(h) Income from rent shall include only the realised rent. It shall not include any notional rent. |
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