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Revenue Account

Revenue Account

Revenue Account For The Period Ended 31 March 2016 In Respect Of Fire Insurance Business
  Particulars Schedule Current Year Previous Year
      (` '000) (` '000)
1. Premiums earned (Net) 1 45039 525 39687 111
2. Profit on sale of Investments (Net)   3440 734 4635 672
3. Forex Gain/( Loss)   491 493 (206 797)
4. Interest, Dividend & Rent - Gross   5689 979 6214 343
  Total (A)   54661 731 50330 329
1. Claims Incurred (Net) 2 34492 171 26538 919
2. Commission (Net) 3 12386 938 9658 600
3. Operating Expenses related to Insurance Business 4 681 359 544 148
4. Expenses relating to Investments   7 273 8 238
5. Premium Deficiency   0 0
  Total (B)   47567 741 36749 905
         
  Operating Profit /- Loss from Fire Business C = (A-B)   7093 990 13580 424
  APPROPRIATIONS      
  Transfer to Shareholders' Account   7093 990 13580 424
  Transfer to Catastrophe Reserve   0 0
  Transfer to Other Reserves (to be specified)   0 0
  Total (C)   7093 990 13580 424
As required by Section 40C (2) of the Insurance Act, 1938, we certify that, all expenses of management, wherever incurred, whether directly or indirectly, in respect of Miscellaneous Insurance Business have been fully debited in the Miscellaneous Insurance Revenue Accounts as expenses.
In Respect of Miscellaneous Insurance Business
  Particulars Schedule Current Year Previous Year
         
      (` '000) (` '000)
1. Premiums earned (Net) 1 94878 040 85256 515
2. Profit on sale of Investments (Net)   6092 484 7203 607
3. Forex Gain/( Loss)   915 231 (317 788)
4. Interest, Dividend & Rent - Gross   10075 205 9656 784
  Total (A)   111960 960 101799 118
1. Claims Incurred (Net) 2 86478 471 81526 948
2. Commission (Net) 3 20627 929 16123 033
3. Operating Expenses related to Insurance Business 4 1029 407 947 232
4. Expenses relating to Investments   12 879 12 802
5. Premium Deficiency   0 0
  Total (B)   108148 686 98610 015
         
  Operating Profit/-Loss from Miscellaneous Business C = (A-B)   3812 274 3189 103
  APPROPRIATIONS      
  Transfer to Shareholders' Account   3812 274 3189 103
  Transfer to Catastrophe Reserve   0 0
  Transfer to Other Reserves (to be specified)   0 0
  Total (C)   3812 274 3189 103
As required by Section 40C (2) of the Insurance Act, 1938, we certify that, all expenses of management, wherever incurred, whether directly or indirectly, in respect of Miscellaneous Insurance Business have been fully debited in the Miscellaneous Insurance Revenue Accounts as expenses.
In Respect of Marine Insurance Business
  Particulars Schedule Current Year Previous Year
         
      (` '000) (` '000)
1. Premiums earned (Net) 1 9435 249 9334 589
2. Profit on sale of Investments (Net)   989 018 1042 955
3. Forex Gain/( Loss)   151 896 (57 147)
4. Interest, Dividend & Rent - Gross   1635 550 1398 132
  Total (A)   12211 713 11718 529
1. Claims Incurred (Net) 2 6327 997 9919 185
2. Commission (Net) 3 1812 301 1983 459
3. Operating Expenses related to Insurance Business 4 74 575 86 927
4. Expenses relating to Investments   2 091 1 709
5. Premium Deficiency   -584 596 584 596
  Total (B)   7632 368 12574 167
         
  Operating Profit/-Loss from Marine Business C = (A-B)   4579 345 -855 638
  APPROPRIATIONS      
  Transfer to Shareholders' Account   4579 345 -855 638
  Transfer to Catastrophe Reserve   0 0
  Transfer to Other Reserves (to be specified)   0 0
  Total (C)   4579 345 -855 638
As required by Section 40C (2) of the Insurance Act, 1938, we certify that, all expenses of management, wherever incurred, whether directly or indirectly, in respect of Marine Insurance Business have been fully debited in the Marine Insurance Revenue Accounts as expenses.
In Respect of Life Insurance Business
  Particulars Schedule Current Year Previous Year
         
      (` '000) (` '000)
1. Premiums earned (Net) 1 2375 574 1304 308
2. Profit on sale of Investments (Net)   47 713 51 120
3. Forex Gain/( Loss)   7 082 (2 588)
4. Interest, Dividend & Rent - Gross   78 904 68 529
  Total (A)   2509 273 1421 369
1. Claims Incurred (Net) 2 1699 960 932 666
2. Commission (Net) 3 76 403 77 432
3. Operating Expenses related to Insurance Business 4 21 633 16 049
4. Expenses relating to Investments   101 91
5. Premium Deficiency   0 0
  Total (B)   1798 097 1026 238
         
  Operating Profit/-Loss from Life Business C = (A-B)   711 176 395 131
  APPROPRIATIONS      
  Transfer to Shareholders' Account   711 176 395 131
  Transfer to Catastrophe Reserve   0 0
  Transfer to Other Reserves (to be specified)   0 0
  Total (C)   711 176 395 131
As required by Section 40C (2) of the Insurance Act, 1938, we certify that, all expenses of management, wherever incurred, whether directly or indirectly, in respect of Life Insurance Business have been fully debited in the Life Insurance Revenue Accounts as expenses.
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