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Revenue Account

Revenue Account

Revenue Account For The Period Ended 31 March 2017 In Respect Of Fire Insurance Business
  Particulars Schedule Current Year Previous Year
      (` '000) (` '000)
1. Premiums earned (Net) 1 56,169,737 45,039,525
2. Profit on sale of Investments (Net)   3,881,559 3,440,734
3. Forex Gain/( Loss)   (115,812) 491,493
4. Interest, Dividend & Rent - Gross   6,417,824 5,689,979
  Total (A)   66,353,308 54,661,731
1. Claims Incurred (Net) 2 43,850,303 34,492,171
2. Commission (Net) 3 16,540,122 12,386,938
3. Operating Expenses related to Insurance Business 4 625,864 681,359
4. Expenses relating to Investments   8,584 7,273
5. Premium Deficiency   - -
  Total (B)   61,024,873 47,567,741
         
  Operating Profit /- Loss from Fire Business C = (A-B)   5,328,435 7,093,990
  APPROPRIATIONS      
  Transfer to Shareholders' Account   5,328,435 7,093,990
  Transfer to Catastrophe Reserve   - -
  Transfer to Other Reserves (to be specified)   - -
  Total (C)   5,328,435 7,093,990
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) 1 198,033,421 94,878,040
2. Profit on sale of Investments (Net)   6,653,641 6,092,484
3. Forex Gain/( Loss)   (165,928) 915,231
4. Interest, Dividend & Rent - Gross   11,001,222 10,075,205
  Total (A)   215,522,356 111,960,960
1. Claims Incurred (Net) 2 161,607,382 86,478,471
2. Commission (Net) 3 35,839,574 20,627,929
3. Operating Expenses related to Insurance Business 4 1,684,283 1,029,407
4. Expenses relating to Investments   14,714 12,879
5. Premium Deficiency   - -
  Total (B)   199,145,953 108,148,686
         
  Operating Profit/-Loss from Miscellaneous Business C = (A-B)   16,376,403 3,812,274
  APPROPRIATIONS      
  Transfer to Shareholders' Account   16,376,403 3,812,274
  Transfer to Catastrophe Reserve   - -
  Transfer to Other Reserves (to be specified)   - -
  Total (C)   16,376,403 3,812,274
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 10,596,088 9,435,249
2. Profit on sale of Investments (Net)   942,400 989,018
3. Forex Gain/( Loss)   (25,854) 151,896
4. Interest, Dividend & Rent - Gross   1,558,177 1,635,550
  Total (A)   13,070,811 12,211,713
1. Claims Incurred (Net) 2 7,559,059 6,327,997
2. Commission (Net) 3 1,603,210 1,812,301
3. Operating Expenses related to Insurance Business 4 63,385 74,575
4. Expenses relating to Investments   2,084 2,091
5. Premium Deficiency   - (584,596)
  Total (B)   9,227,738 7,632,368
         
  Operating Profit/-Loss from Marine Business C = (A-B)   3,843,073 4,579,345
  APPROPRIATIONS      
  Transfer to Shareholders' Account   3,843,073 4,579,345
  Transfer to Catastrophe Reserve   - -
  Transfer to Other Reserves (to be specified)   - -
  Total (C)   3,843,073 4,579,345
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 2,349,737 2,375,574
2. Profit on sale of Investments (Net)   36,617 47,713
3. Forex Gain/( Loss)   (718) 7,082
4. Interest, Dividend & Rent - Gross   60,542 78,904
  Total (A)   2,446,178 2,509,273
1. Claims Incurred (Net) 2 3,447,332 1,699,960
2. Commission (Net) 3 61,100 76,403
3. Operating Expenses related to Insurance Business 4 23,738 21,633
4. Expenses relating to Investments   81 101
5. Premium Deficiency   - -
  Total (B)   3,532,251 1,798,097
         
  Operating Profit/-Loss from Life Business C = (A-B)   (1,086,073) 711,176
  APPROPRIATIONS      
  Transfer to Shareholders' Account   (1,086,073) 711,176
  Transfer to Catastrophe Reserve   - -
  Transfer to Other Reserves (to be specified)   - -
  Total (C)   (1,086,073) 711,176
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.