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Revenue Account

Revenue Account

Revenue Account For The Period Ended 31 March 2020 In Respect Of Fire Insurance Business
  Particulars Schedule Current Year Previous Year
      (` '000) (` '000)
1. Premiums earned (Net) 1
90,568,870
80,367,690
2. Profit on sale of Investments (Net)  
6,023,232
5,109,136
3. Forex Gain/( Loss)  
1,108,278
557,235
4. Interest, Dividend & Rent - Gross  
8,279,938
7,575,660
  Total (A)  
105,980,318
93,609,721
1. Claims Incurred (Net) 2
81,111,615
82,942,803
2. Commission (Net) 3
29,350,085
21,763,124
3. Operating Expenses related to Insurance Business 4
912,800
611,949
4. Expenses relating to Investments  
0
0
5. Premium Deficiency   0 0
  Total (B)  
111,374,500
105,317,876
         
  Operating Profit /- Loss from Fire Business C = (A-B)  
(5,394,182)
(11,708,155)
  APPROPRIATIONS      
  Transfer to Shareholders' Account  
(5,394,182)
(11,708,155)
  Transfer to Catastrophe Reserve   0 0
  Transfer to Other Reserves (to be specified)   0 0
  Total (C)  
(5,394,182)
(11,708,155)
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
326,924,651
279,417,110
2. Profit on sale of Investments (Net)  
16,034,749
12,456,051
3. Forex Gain/( Loss)  
2,887,121
1,478,486
4. Interest, Dividend & Rent - Gross  
22,042,441
18,469,426
  Total (A)  
367,888,962
311,821,073
1. Claims Incurred (Net) 2
329,872,698
240,318,292
2. Commission (Net) 3
42,372,916
36,460,623
3. Operating Expenses related to Insurance Business 4
2,625,883
1,836,221
4. Expenses relating to Investments  
0
0
5. Premium Deficiency   0 0
  Total (B)  
374,871,497
278,615,136
         
  Operating Profit/-Loss from Miscellaneous Business C = (A-B)  
(6,982,535)
33,205,937
  APPROPRIATIONS      
  Transfer to Shareholders' Account  
(6,982,535)
33,205,937
  Transfer to Catastrophe Reserve   0 0
  Transfer to Other Reserves (to be specified)   0 0
  Total (C)  
(6,982,535)
33,205,937
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
16,043,131
12,145,987
2. Profit on sale of Investments (Net)  
1,087,250
921,974
3. Forex Gain/( Loss)  
1,97,315
1,09,503
4. Interest, Dividend & Rent - Gross  

1,494,607
1,367,072
  Total (A)  
18,822,303
14,544,536
1. Claims Incurred (Net) 2
11,431,957
8,197,073
2. Commission (Net) 3
3,262,323
2,754,350
3. Operating Expenses related to Insurance Business 4
123,975
83,479
4. Expenses relating to Investments  
0
0
5. Premium Deficiency   0 0
  Total (B)  
14,818,255
11,034,902
         
  Operating Profit/-Loss from Marine Business C = (A-B)  
4,004,048
3,509,634
  APPROPRIATIONS      
  Transfer to Shareholders' Account  
4,004,048
3,509,634
  Transfer to Catastrophe Reserve   0 0
  Transfer to Other Reserves (to be specified)   0 0
  Total (C)  
4,004,048
3,509,634
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
7,917,615
4,860,050
2. Profit on sale of Investments (Net)  
262,707
172,152
3. Forex Gain/( Loss)  
47,608
16,546
4. Interest, Dividend & Rent - Gross  
361,135
255,262
  Total (A)  
8,589,065
5,304,010
1. Claims Incurred (Net) 2
7,942,310
5,941,287
2. Commission (Net) 3
98,173
76,197
3. Operating Expenses related to Insurance Business 4
67,465
28,904
4. Expenses relating to Investments  
0
0
5. Premium Deficiency   194,154 52,944
  Total (B)  
8,302,102
6,099,332
         
  Operating Profit/-Loss from Life Business C = (A-B)  
286,963
(795,322)
  APPROPRIATIONS      
  Transfer to Shareholders' Account  
286,963
(795,322)
  Transfer to Catastrophe Reserve   - -
  Transfer to Other Reserves (to be specified)   - -
  Total (C)  
286,963
(795,322)
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.
 
 
 
 

 

Ranked 11th Among the top
40 global reinsurance
groups by S&P Ranking