| FORM NL-2-B-PL | ||||||
|---|---|---|---|---|---|---|
| Name of the Insurer:..GENERAL INSURANCE CORPORATION OF INDIA | ||||||
| Registration No...112 | ||||||
| Date of..Registration with the IRDA : 2nd April, 2001 | ||||||
| PROFIT AND LOSS ACCOUNT FOR THE HALF YEAR ENDED 31.12.2012 | . | . | . | ( Rs IN 000) | ||
| . | PARTICULARS | SCHEDULE | FOR THE QUARTER | NINE MONTH ENDING 31.12.2012 | FOR THE QUARTER OF THE PRECEDING YEAR | NINE MONTH ENDING 31.12.2011 |
| 1 | OPERATING PROFIT/(LOSS) | . | . | . | . | . |
| . | (a). Fire Insurance | . | -2691 863 | -2140 467 | -11741 462 | -14929 318 |
| . | (b)..Marine Insurance | . | 611 376 | 3057 664 | -1815 763 | -1390 495 |
| . | (c )..Miscellaneous Insurance | . | 1441 064 | 7684 521 | -9987 089 | -1926 951 |
| . | (d) Life Insurance | . | 189 039 | 99 364 | 96 689 | 202 038 |
| 2 | INCOME FROM INVESTMENTS | . | .. | .. | .. | .. |
| . | (a) Interest, Dividend & Rent – Gross | . | 944 824 | 3335 717 | 1523 104 | 5339 234 |
| . | (b) Profit on sale of investments | . | 491 082 | 1030 908 | 283 227 | 902 153 |
| . | ......Less: Loss on sale of investments | . | . | . | . | . |
| 3 | OTHER INCOME (To be specified) | . | . | . | . | . |
| . | Profit on Exchange | . | 1375 347 | 2030 394 | 2355 685 | 4624 623 |
| . | Profit on sale of Assets (Net) | . | 0 | 0 | - 18 | 963 |
| . | Sundry Balances Written Back (Net) | . | 0 | 0 | 0 | 0 |
| . | Interest on Income-tax Refund | . | 0 | 9 144 | 44 162 | 79 128 |
| . | Motor Pool Service Charges | . | -4 403 | 10 867 | 214 831 | 311 293 |
| . | Miscellaneous Receipts | . | 217 | 7 058 | 2 488 | 5 295 |
| . | TOTAL (A) | . | 2356 683 | 15125 170 | -19024 146 | -6782 037 |
| 4 | Provision for Doubtful Loans, Investment & Debts | . | 11 410 | 45 397 | 185 561 | 353 709 |
| 5. | Amortisation of premium on Investments | . | 46 566 | 139 481 | 49 746 | 153 788 |
| 6. | Diminution in the value of investments written off | . | 1 449 | 1 449 | 14 215 | 51 554 |
| 7. | OTHER EXPENSES | . | 0 | 0 | ||
| . | Expenses relating to Investments | . | 2 866 | 7 424 | 4 057 | 11 327 |
| . | Loss on Exchange | . | 0 | 0 | 0 | 0 |
| . | Loss on sale of Assets (Net) | . | 11 | 46 | 0 | 0 |
| . | Sundry Balances Written off (Net) | . | 0 | 0 | 3 | 3 |
| . | Loss on Distribution of LPA Assets | . | 0 | 0 | 0 | 0 |
| . | Interest on Service Tax | . | 0 | 0 | 0 | 0 |
| . | TOTAL (B) | . | 62 302 | 193 797 | 253 582 | 570 381 |
| . | Profit Before Tax................................. | . | 2294 381 | 14931 373 | -19277 728 | -7352 418 |
| . | Provision for Taxation : | . | ||||
| . | Current Tax | . | 358 200 | 2226 800 | -2786000 | 6 |
| . | Wealth Tax | . | 0 | 28 | 0 | 463 |
| . | Mat Tax | . | -358 200 | -2226 800 | 0 | 0 |
| . | Deferred Tax | . | 0 | 0 | 4307 | -13 661 |
| . | Fringe Benefit Tax | . | 0 | 0 | 0 | 0 |
| . | Provision for Tax in respect of earlier years | . | 0 | 0 | 0 | 0 |
| . | Profit after Tax | . | 2294 381 | 14931 345 | -16496 035 | -7339 226 |
| . | Balance brought forward from last year | . | 0 | -24678 928 | 0 | 599 |
| . | Profit available for appropriation | . | 2294 381 | -9747 583 | -16496 035 | -7338 627 |
| . | APPROPRIATIONS | . | ||||
| . | (a).................Interim dividends paid during the year | . | ||||
| . | (b).................Proposed final dividend | . | 0 | 0 | 0 | 0 |
| . | (c).................Dividend distribution tax | . | 0 | 0 | -7972 | -7 972 |
| . | (d).................Transfer to General Reserve | . | 0 | 0 | 0 | 0 |
| . | (e) Balance carried forward to Balance Sheet | . | 2294 381 | -9747 583 | -16488063 | -7330 655 |
| . | . | . | 2294 381 | -9747 583 | -16496 035 | -7338 627 |
| Notes:..to Form NL-1-B-RA and NL-2-B- PL | . | . | . | . | . | |
| (a)..................Premium income received from business concluded in and outside India shall be separately disclosed. | . | . | . | |||
| (b).................Reinsurance premiums whether on business ceded or accepted are to be brought into account gross (i.e. before deducting commissions) under the head reinsurance premiums. | ||||||
| (c).................Claims incurred shall comprise claims paid, specific claims settlement costs wherever applicable and change in the outstanding provision for claims at the year-end,. | . | |||||
| (d).................Items of expenses and 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. | . | |||||
| (e).................Fees and expenses connected with claims shall be included in claims. | . | . | . | . | ||
| (f)..................Under the sub-head "Others” shall be included items like foreign exchange gains or losses and other..items. | . | . | . | |||
| (g).................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”.. | ||||||
| (h).................Income from rent shall include only the realised rent. It shall not include any notional rent. | . | . | . | . | ||