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 30.06.2021

( ₹ in 000)

PARTICULARS

SCHEDULE

For the  Three Months  ending 30.06.2021

For the First Quarter Ending 30.06.2021

For the  Three Months  ending 30.06.2020

For the First Quarter Ending 30.06.2020

1

OPERATING PROFIT/(LOSS)

(a)  Fire Insurance

-3145 272

-3145 272

-8387 445

-8387 445

(b)  Marine Insurance

-773 275

-773 275

-182 120

-182 120

(c )  Miscellaneous Insurance

-2788 586

 (2788 586)

-252 927

-252 927

(d)  Life Insurance

-7154 632

-7154 632

292 564

 2,92,564

2

INCOME FROM INVESTMENTS

(a)  Interest, Dividend & Rent – Gross

2313 073

2313 073

1762 045

1762 045

(b)  Profit on sale of investments

1382 968

1382 968

482 610

482 610

      Less: Loss on sale of investments

 0

 0

 0

 0

3

OTHER INCOME (To be specified)

Foreign gain/(loss)

396 063

396 063

148 851

148 851

Profit on sale of Assets (Net)

 0

 0

 439

 439

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

2 464

2 464

5 454

5 454

TOTAL (A)

-9767 197

-9767 197

-6130 529

-6130 529

4

Provision for Doubtful Loans & Investment

274 925

274 925

454 697

454 697

5

Provision /(written off) for Doubtful  Debts

1515 942

1515 942

1445 870

1445 870

6

Amortisation of premium on Investments

107 841

107 841

79 211

79 211

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)

 0

 0

 0

 0

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

 472

 472

 0

 0

Sundry Balances Written off (Net)

 57

 57

 0

 0

Interest & others

 795

 795

 10

 10

Corporate Social Responsibility

 0

 0

1 894

1 894

IPO expenses

 0

 0

 0

 0

TOTAL (B)

1900 032

1900 032

1981 682

1981 682

Profit Before Tax                                 

-11667 229

-11667 229

-8112 211

-8112 211

Provision for Taxation :

Current Tax

 0

 0

 34,248

34 248

Wealth Tax

 0

 0

 0

 0

MAT Credit

 0

 0

 0

 0

Deferred Tax

-3949 919

-3949 919

 (2571 781)

-2571 781

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

-7717 310

-7717 310

-5574 678

-5574 678

Appropriations

Balance brought forward from last year

41640 289

41640 289

 2,24,35,908

22435 908

(a) Interim dividends paid during the year

 0

 0

 0

 0

(b)  Final dividend

 0

 0

 0

 0

(c) Dividend distribution tax

 0

 0

 0

 0

(d) Transfer to General Reserve

 0

 0

 0

 0

(e) Balance carried forward to Balance Sheet

33922 979

33922 979

 1,68,61,230

16861 230

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.