FORM NL-2-B-PL

Name of the Insurer: GENERAL INSURANCE CORPORATION OF INDIA

Registration No.112  and Date of  Registration with the IRDAI 02.04.2001

PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED ON 31.03.2022

   

(Amount in Rs. Lakhs)

 

Particulars

Schedule Ref. Form No.

For the Six Months Ended

31.03.2022

Up to the Year Ended

31.03.2022

For the Six Months Ended

31.03.2021

Up to the Year Ended

31.03.2021

1

OPERATING PROFIT/(LOSS)

NL-1

    
 

(a)  Fire Insurance

 

 127,853.83

 141,669.11

 91,048.02

 47,882.92

 

(b)  Marine Insurance

 

 -3,665.01

 7,091.32

 7,442.49

 -24,311.44

 

(c) Miscellaneous Insurance

 

 267,795.10

 295,182.84

 137,394.83

 122,494.94

 

(d) Life Insurance

 

 -11,445.02

 -134,278.47

 -20,091.46

 -12,491.29

       

2

INCOME FROM INVESTMENTS

     
 

(a) Interest, Dividend & Rent – Gross

 

 61,878.91

 115,582.28

 60,142.37

 105,349.85

 

(b) Profit on sale of investments

 

 61,655.25

 104,370.90

 59,358.11

 94,315.92

 

(c) (Loss on sale/ redemption of investments)

  

 -  

  
 

(d) Amortization of Premium / Discount on Investments

     

3

OTHER INCOME

     
 

Forex Gain/( Loss)

 

 7,435.34

 12,054.36

 -  

 -  

 

Miscellaneous Receipts

 

 42.96

 73.77

 -68.49

 1.95

 

Profit on sale of Assets (Net)

  

 -  

 -5.89

 2.62

 

TOTAL (A)

 

 511,551.35

 541,746.10

 335,219.99

 333,245.48

       

4

PROVISIONS (Other than taxation)

     
 

(a) For diminution in the value of investments

 

 13,345.60

 13,347.48

 3,402.51

 3,402.51

 

(b) For doubtful debts

 

 141,422.83

 164,644.98

 -34,809.73

 -1,740.48

 

(c) Others (to be specified)

     
 

Amortisation of premium on Investments

 

 2,454.78

 4,652.17

 1,892.78

 3,494.84

5

OTHER EXPENSES

     
 

(a) Expenses other than those related  to Insurance Business

  

 -  

 

 -  

 

(b) Bad debts written off

  

 0.60

 

 0.04

 

(c) Interest on subordinated debt

 

 140.12

 153.01

 79.77

 79.87

 

(d) Expenses towards CSR activities

 

 2,873.59

 2,912.99

 5,338.55

 5,440.00

 

(e) Penalties

     
 

(f) Contribution to Policyholders' A/c

     
 

(i) Towards Excess Expenses of Management

(ii) Others (please specify)

     
 

Forex Loss/(Gain)

 

 -  

 -  

 3,083.62

 6,230.47

 

(g)     Others

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

(ii)______

 

 3.28

 20.69

 -  

 
 

TOTAL (B)

 

 160,240.20

 185,731.92

 -21,012.50

 16,907.26

       

6

Profit/(Loss) Before Tax                         

 

 351,311.16

 356,014.18

 356,232.48

 316,338.22

       

7

Provision for Taxation        

 

 174,619.20

 155,440.31

 131,447.04

 124,294.42

       

8

Profit / (Loss) after tax

 

 176,691.96

 200,573.88

 224,785.45

 192,043.80

9

APPROPRIATIONS

     
 

(a) Interim dividends paid during the year

 

0

 -  

 -  

 -  

 

(b)  Final dividend paid

 

0

 -  

 -  

 -  

 

(c) Transfer to any Reserves or Other Accounts (to be specified)

 

0

 -  

 -  

 -  

 

Balance of profit/ loss brought forward from last year

 

 -0.00

 416,402.89

 0.00

 224,359.08

 

Balance carried forward to Balance Sheet

 

 176,691.92

 616,976.77

 224,785.41

 416,402.89

       
 

Notes:  to Form NL-1-B-RA and NL-2-B- PL

 

(a)   Items of 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.

 

(b)   Under the sub-head "Others” items like foreign exchange gains or losses and other  items shall be included

 

(c)  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". The expenses pertaining to investment income e.g. Amortisation, Write off, other Investments expenses etc.  are to be deducted from this other than separately disclosed here.

 

(d) Income from rent shall include only the realized rent. It shall not include any notional rent.

 

(e) Contribution from the Shareholders' Account to policyholders' account  /Contribution to the Policyholders' Fund is as per the terms of Section 40C of the Insurance  Act, 1938 read with IRDAI (Expenses of Management of Insurers transacting General or Health Insurance Business) Regulations as specified and modified from time to time