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

 

REVENUE ACCOUNT FOR THE PERIOD ENDED 30.09.2020

   

(` '000)

 
 

PARTICULARS

SCHEDULE

For the  Three Months  ending 30.09.2020

Upto Six Months Ending 30.09.2020

For the  Three Months  ending 30.09.2019

Upto Six Months Ending 30.09.2019

 

1

OPERATING PROFIT/(LOSS)

      
 

(a)  Fire Insurance

 

4070 934

-4316 513

-9418 922

-5167 154

 
 

(b)  Marine Insurance

 

-2993 273

-3175 392

-506 585

-114 646

 
 

(c )  Miscellaneous Insurance

 

-1237 062

 (1489 990)

1227 716

-1098 779

 
 

(d)  Life Insurance

 

467 455

760 017

-20 519

 (294 852)

 
        

2

INCOME FROM INVESTMENTS

      
 

(a)  Interest, Dividend & Rent – Gross

 

2758 703

4520 748

2471 011

4791 183

 
 

(b)  Profit on sale of investments

 

3013 171

3495 781

1200 440

2312 727

 
 

      Less: Loss on sale of investments

 

 0

 0

 0

 0

 
        

3

OTHER INCOME (To be specified)

      
 

Foreign gain/(loss)

 

-148 851

 0

219 544

291 886

 
 

Profit on sale of Assets (Net)

 

 412

 851

- 31

 0

 
 

Sundry Balances Written Back (Net)

 

 0

 0

 0

 0

 
 

Interest on Income-tax Refund

 

 0

 0

 0

 0

 
 

(Provision)/doubtful debts written back

 

 0

 0

 0

 0

 
 

Motor Pool Service Charges

 

 0

 0

 0

 0

 
 

Miscellaneous Receipts

 

1 590

7 044

11 998

14 746

 
 

TOTAL (A)

 

5933 079

-197 454

-4815 348

735 111

 

4

Provision for Doubtful Loans & Investment

 

979 672

1434 369

1619 078

5050 521

 

5

Provision /(written off) for Doubtful  Debts

 

426 686

1872 556

-371 510

226 635

 

6

Amortisation of premium on Investments

 

80 995

160 206

79 191

153 177

 

7

Diminution in the value of investments written off

 

 0

 0

 0

 0

 

8

OTHER EXPENSES

      
 

Expenses relating to Investments

 

 0

 0

 0

 0

 
 

Forex loss/(gain)

 

314 685

314 685

 0

 0

 
 

(Profit)/Loss on sale of Assets (Net)

 

 0

 0

 27

 27

 
 

Sundry Balances Written off (Net)

 

 0

 0

 440

 440

 
 

Interest & others

 

 0

 10

 0

 10

 
 

Corporate Social Responsibility

 

8 251

10 145

57 753

115 595

 
 

IPO expenses

 

 0

 0

 0

 0

 
 

TOTAL (B)

 

1810 289

3791 971

1384 979

5546 405

 
 

Profit Before Tax                                 

 

4122 790

-3989 425

-6200 327

-4811 294

 
 

Provision for Taxation :

      
 

Current Tax

 

34 931

69 179

 (247 777)

59 492

 
 

Wealth Tax

 

 0

 0

 0

 0

 
 

MAT Credit

 

 0

 0

 4,749

 0

 
 

Deferred Tax

 

1787 340

-784 441

 (2 762)

-2 201

 
 

Fringe Benefit Tax

 

 0

 0

 0

 0

 
 

Provision for Tax in respect of earlier years

 

 0

 0

 0

 0

 
 

MAT Credit of earlier year

 

 0

 0

 0

 0

 
 

Profit after Tax

 

2300 519

-3274 163

-5954 537

-4868 585

 
 

Appropriations

      
 

Balance brought forward from last year

 

 0

22435 908

 0

40303 305

 
 

(a)                 Interim dividends paid during the year

 

 0

 0

 0

 0

 
 

(b)                 Final dividend

 

 0

 0

 11,842,200

11842 200

 
 

(c)                 Dividend distribution tax

 

 0

 0

 2,434,283

2434 283

 
 

(d)                 Transfer to General Reserve

 

 0

 0

 0

 0

 
 

(e)          Balance carried forward to Balance Sheet

 

2300 518

19161 748

 (20231 020)

21158 237

 
        

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.