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05.12.2020 : Governor flags off Mobile Medical Van from Raj Bhavan
Maharashtra Governor Bhagat Singh Koshyari flagged off a Mobile Medical Van and dedicated it in the service of the people of Mumbai at a function held at Raj Bhavan Mumbai on Saturday (5th Dec).
The Mobile Medical Van will provide free health checkup, medicines and spectacles and arrange for essential surgeries of people from nearly 20 slum areas of Mumbai.
The Mobile Medical Van was presented to the R K HIV and AIDS Research and Care Centre by GIC of India RE from its Corporate Social Responsibility fund. It will be managed and equipped by R K HIV and AIDS Research and Care Centre.
Complimenting the R K HIV and AIDS Research and Care Centre for its medical service, the Governor said dedicated work for the poor, needy and the ill gives one eternal satisfaction. He complimented the organization for arranging for food and ration to more than 1 crore people during the Corona pandemic period.
| GENERAL INSURANCE CORPORATION OF INDIA |
| Registration No. 112 |
| Date of Registration with IRDAI : 2nd April 2001 |
| CONSOLIDATED REVENUE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2020 |
| IN RESPECT OF FIRE INSURANCE BUSINESS |
| |
Particulars |
Schedule |
Current Year |
Previous Year |
| |
|
|
(` '000) |
(` '000) |
| 1. |
Premiums earned (Net) |
1 |
9,14,42,065 |
8,37,26,218 |
| 2. |
Profit on sale of Investments (Net) |
|
60,21,292 |
51,11,086 |
| 3. |
Forex Gain/( Loss) |
|
11,48,013 |
6,40,142 |
| 4. |
Interest, Dividend & Rent - Gross |
|
83,28,826 |
76,28,094 |
| |
Total (A) |
|
10,69,40,196 |
9,71,05,540 |
| 1. |
Claims Incurred (Net) |
2 |
8,19,80,918 |
8,38,56,766 |
| 2. |
Commission (Net) |
3 |
2,95,15,080 |
2,14,69,035 |
| 3. |
Operating Expenses related to Insurance Business |
4 |
10,25,106 |
6,99,371 |
| 4. |
Expenses relating to Investments |
|
0 |
0 |
| 5. |
Premium Deficiency |
|
0 |
0 |
| |
Total (B) |
|
11,25,21,104 |
10,60,25,172 |
| |
Operating Profit /- Loss from Fire Business C = (A-B) |
(55,80,908) |
(89,19,632) |
| |
APPROPRIATIONS |
|
|
|
| |
Transfer to Shareholders’ Account |
|
(55,80,908) |
(89,19,632) |
| |
Transfer to Catastrophe Reserve |
|
0 |
0 |
| |
Transfer to Other Reserves (to be specified) |
|
0 |
0 |
| |
Total (C) |
|
(55,80,908) |
(89,19,632) |
| 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 Fire Insurance Business have been fully debited in the Fire Insurance Revenue Accounts as expenses. |
| IN RESPECT OF MISCELLANEOUS INSURANCE BUSINESS |
| |
Particulars |
Schedule |
Current Year |
Previous Year |
| |
|
|
(` '000) |
(` '000) |
| 1. |
Premiums earned (Net) |
1 |
32,80,50,493 |
28,15,77,942 |
| 2. |
Profit on sale of Investments (Net) |
|
1,60,34,397 |
1,24,57,320 |
| 3. |
Forex Gain/( Loss) |
|
28,94,326 |
15,34,273 |
| 4. |
Interest, Dividend & Rent - Gross |
|
2,20,51,305 |
1,85,04,649 |
| |
Total (A) |
|
36,90,30,521 |
31,40,74,184 |
| 1. |
Claims Incurred (Net) |
2 |
33,00,65,259 |
24,16,68,494 |
| 2. |
Commission (Net) |
3 |
4,27,33,874 |
3,67,98,122 |
| 3. |
Operating Expenses related to Insurance Business |
4 |
27,09,572 |
19,09,219 |
| 4. |
Expenses relating to Investments |
|
0 |
0 |
| 5. |
Premium Deficiency |
|
0 |
0 |
| |
Total (B) |
|
37,55,08,705 |
28,03,75,835 |
| |
Operating Profit/-Loss from Miscellaneous Business C = (A-B) |
(64,78,184) |
3,36,98,349 |
| |
APPROPRIATIONS |
|
|
|
| |
Transfer to Shareholders’ Account |
|
(64,78,184) |
3,36,98,349 |
| |
Transfer to Catastrophe Reserve |
|
0 |
0 |
| |
Transfer to Other Reserves (to be specified) |
|
0 |
0 |
| |
Total (C) |
|
(64,78,184) |
3,36,98,349 |
| 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 |
16100051 |
12336440 |
| 2. |
Profit on sale of Investments (Net) |
|
1087101 |
922074 |
| 3. |
Forex Gain/( Loss) |
|
200373 |
113696 |
| 4. |
Interest, Dividend & Rent - Gross |
|
1498370 |
1369727 |
| |
Total (A) |
|
1,88,85,895 |
1,47,41,937 |
| 1. |
Claims Incurred (Net) |
2 |
11515666 |
8229332 |
| 2. |
Commission (Net) |
3 |
3271377 |
2821015 |
| 3. |
Operating Expenses related to Insurance Business |
4 |
123818 |
89115 |
| 4. |
Expenses relating to Investments |
|
0 |
0 |
| 5. |
Premium Deficiency |
|
0 |
0 |
| |
Total (B) |
|
1,49,10,861 |
1,11,39,462 |
| |
Operating Profit/-Loss from Marine Business C = (A-B) |
39,75,034 |
36,02,475 |
| |
APPROPRIATIONS |
|
|
|
| |
Transfer to Shareholders’ Account |
|
39,75,034 |
36,02,475 |
| |
Transfer to Catastrophe Reserve |
|
0 |
0 |
| |
Transfer to Other Reserves (to be specified) |
|
0 |
0 |
| |
Total (C) |
|
39,75,034 |
36,02,475 |
| 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 |
79,17,615 |
79,17,615 |
| 2. |
Profit on sale of Investments (Net) |
|
2,62,707 |
1,72,153 |
| 3. |
Forex Gain/( Loss) |
|
47,607 |
16,545 |
| 4. |
Interest, Dividend & Rent - Gross |
|
361,135 |
2,55,263 |
| |
Total (A) |
|
85,89,064 |
53,04,011 |
| 1. |
Claims Incurred (Net) |
2 |
79,42,310 |
59,41,287 |
| 2. |
Commission (Net) |
3 |
98,173 |
76,197 |
| 3. |
Operating Expenses related to Insurance Business |
4 |
67,464 |
28,911 |
| 4. |
Expenses relating to Investments |
|
0 |
0 |
| 5. |
Premium Deficiency |
|
1,94,154 |
52,944 |
| |
Total (B) |
|
83,02,101 |
60,99,339 |
| |
Operating Profit/-Loss from Life Business C = (A-B) |
|
2,86,963 |
(7,95,328) |
| |
APPROPRIATIONS |
|
|
|
| |
Transfer to Shareholders’ Account |
|
2,86,963 |
(7,95,328) |
| |
Transfer to Catastrophe Reserve |
|
0 |
0 |
| |
Transfer to Other Reserves (to be specified) |
|
0 |
0 |
| |
Total (C) |
|
2,86,963 |
(7,95,328) |
| 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. |
| PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2020 |
|
| |
Particular |
Schedule |
Current Year |
Previous Year |
| |
|
|
(` '000) |
(` '000) |
| 1. |
Operating Profit/-Loss |
|
|
|
| |
(a) Fire Insurance |
|
|
|
| |
(b) Marine Insurance |
|
|
|
| |
(c) Miscellaneous Insurance |
|
|
|
| |
(d) Life Insurance |
|
|
|
| 2. |
Income from Investments |
|
|
|
| |
(a) Interest, Dividend & Rent - Gross |
|
|
|
| |
(b) Profit on sale of Investments |
|
|
|
| |
Less: Loss of sale of Investment |
|
0 |
0 |
| 3. |
Other Income: |
|
|
|
| |
Forex Gain/( Loss) |
|
15,03,833 |
13,35,724 |
| |
Miscellaneous Receipts |
|
|
|
| |
Total (A) |
|
|
|
| 4. |
Provision for Doubtful Loans & Investment |
|
|
|
| 5 |
Amortisation of premium on Investments |
|
|
|
| 6 |
Diminution in the value of investments written off |
|
|
|
| 7 |
Provision/(written off) for Doubtful Debts |
|
|
|
| 8 |
Other Expenses : |
|
|
|
| |
Expenses relating to Investments |
|
|
|
| |
(Profit)/Loss on sale of Assets (Net) |
|
|
|
| |
Interest & Others |
|
|
|
| |
Corporate Social Responsibility Expensess |
|
|
|
| |
Total (B) |
|
|
|
| |
Profit/(Loss) Before Tax |
|
|
|
| |
Provision for Taxation : |
|
|
|
| |
Current Tax |
|
|
|
| |
Wealth Tax |
|
0 |
0 |
| |
MAT Credit |
|
|
|
| |
Deferred Tax |
|
|
|
| |
Fringe Benefit Tax |
|
|
|
| |
Provision for Tax in respect of earlier years |
|
|
|
| |
MAT Credit of earlier year |
|
|
|
| |
Profit/ (Loss) After Tax |
|
|
|
| |
Share of Profit in Asoociates Companies |
|
|
|
| |
Profit for the year |
|
|
|
| |
Appropriations |
|
|
|
| |
(a) Balance brought forward from last year |
|
|
|
| |
(b) Interim dividend |
|
|
|
| |
(c) Final dividend |
|
|
|
| |
(d) Dividend distribution tax |
|
|
|
| |
(e) Transfer to General Reserve |
|
|
|
| |
Balance carried forward to Balance Sheet |
|
|
|
| |
Basic and Diluted EPS |
|
|
|
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