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 31.12.2020 | ( ₹ in 000) | |||||
PARTICULARS | SCHEDULE | For the Three Months ending 31.12.2020 | Upto Nine Months Ending 31.12.2020 | For the Three Months ending 31.12.2019 | Upto Nine Months Ending 31.12.2019 | |
1 | OPERATING PROFIT/(LOSS) | |||||
(a) Fire Insurance | 3661 379 | -655 134 | -7599 385 | -12766 539 | ||
(b) Marine Insurance | -1101 320 | -4276 712 | 1002 495 | 887 849 | ||
(c ) Miscellaneous Insurance | 8507 500 | 7,017,510 | -5304 069 | -6402 848 | ||
(d) Life Insurance | -765 587 | -5 570 | 789 799 | 494,947 | ||
2 | INCOME FROM INVESTMENTS | |||||
(a) Interest, Dividend & Rent – Gross | 2444 411 | 6965 159 | 1653 008 | 6444 191 | ||
(b) Profit on sale of investments | 3271 908 | 6767 689 | 2153 664 | 4466 391 | ||
Less: Loss on sale of investments | 0 | 0 | 0 | 0 | ||
3 | OTHER INCOME (To be specified) | |||||
Foreign gain/(loss) | 0 | 0 | 153 773 | 445 659 | ||
Profit on sale of Assets (Net) | - 224 | 627 | 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 | 0 | 0 | 0 | 0 | ||
Motor Pool Service Charges | 0 | 0 | 0 | 0 | ||
Miscellaneous Receipts | 2 147 | 9 191 | 2 057 | 16 803 | ||
TOTAL (A) | 16020 214 | 15822 760 | -7148 658 | -6413 547 | ||
4 | Provision for Doubtful Loans & Investment | 364 818 | 1799 187 | 3208 940 | 8259 461 | |
5 | Provision /(written off) for Doubtful Debts | 394 505 | 2267 061 | 78 177 | 304 812 | |
6 | Amortisation of premium on Investments | 90 744 | 250 950 | 81 667 | 234 844 | |
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) | -8 354 | 306 331 | 0 | 0 | ||
(Profit)/Loss on sale of Assets (Net) | 0 | 0 | 2 423 | 2 450 | ||
Sundry Balances Written off (Net) | 0 | 0 | 6 | 446 | ||
Interest & others | 2 640 | 2 650 | 0 | 10 | ||
Corporate Social Responsibility | 7 424 | 17 569 | 139 435 | 255 030 | ||
IPO expenses | 0 | 0 | 0 | 0 | ||
TOTAL (B) | 851 777 | 4643 748 | 3510 648 | 9057 053 | ||
Profit Before Tax | 15168 437 | 11179 012 | -10659 306 | -15470 600 | ||
Provision for Taxation : | ||||||
Current Tax | 4363 869 | 4433 048 | 30,922 | 90 414 | ||
Wealth Tax | 0 | 0 | 0 | 0 | ||
MAT Credit | 0 | 0 | 0 | 0 | ||
Deferred Tax | 930 377 | 145 936 | 6,171 | 3 970 | ||
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 | 9874 191 | 6600 028 | -10696 399 | -15564 984 | ||
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 | 0 | 11842 200 | ||
(c) Dividend distribution tax | 0 | 0 | 0 | 2434 283 | ||
(d) Transfer to General Reserve | 0 | 0 | 0 | 0 | ||
(e) Balance carried forward to Balance Sheet | 9874 188 | 29035 936 | (10696 398) | 10461 839 | ||
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. | ||||||