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 31.12.2013 . . . ( Rs IN 000)
. PARTICULARS SCHEDULE FOR THE QUARTER NINE MONTH ENDING 31.12.2013 FOR THE QUARTER OF THE PRECEDING YEAR NINE MONTH ENDING31.12.2012
1 OPERATING PROFIT/(LOSS) . . . . .
. (a). Fire Insurance . 3652365 384607 -2691863 -2140467
. (b)..Marine Insurance . 1068644 4139676 611376 3057664
. (c )..Miscellaneous Insurance . -6284094 2435816 1441064 7684521
. (d)  Life Insurance . 91682 -61771 189039 99364
2 INCOME FROM INVESTMENTS . .. .. .. ..
. (a)  Interest, Dividend & Rent – Gross . 1391572 4719640 944824 3335717
. (b)  Profit on sale of investments . 410644 1635342 491082 1030908
. ......Less: Loss on sale of investments . . . . .
3 OTHER INCOME (To be specified) . . . . .
. Profit on Exchange . -44728 1089858 1375347 2030394
. Profit on sale of Assets (Net) . - 52  0 0 0
. Sundry Balances Written Back (Net) .  0  0  0  0
. Interest on Income-tax Refund . 0 54696 -0 9144
. Motor Pool Service Charges . -7012 32360 -4403 10867
. Miscellaneous Receipts . 819 2474 217 7058
. TOTAL (A) . 279840 14432698 2356683 15125170
4 Provision for Doubtful Loans, Investment & Debts . 107469 1442471 11410 45397
5. Amortisation of premium on Investments . 50600 152820 46566 139481
6. Diminution in the value of investments written off . 9815 9815 1449 1449
7. OTHER EXPENSES .  0    0  
. Expenses relating to Investments . 1604 4302 2866 7424
. Loss on Exchange .  0  0  0  0
. Loss on sale of Assets (Net) . 45 45 11 46
. Sundry Balances Written off (Net) .  0  0  0  0
. Loss on Distribution of LPA Assets .  0  0  0  0
. Interest on Service Tax . 312028 1050809  0  0
. TOTAL (B) . 481561 2660262 62302 193797
. Profit Before Tax................................. . -201721 11772436 2294381 14931373
. Provision for Taxation : . . . . .
. Current Tax . -45610 2171170 2226800 2226800
. Wealth Tax .  0 -315 -1868572 28
. Mat Tax . 37710 -1795087 -2226828 -2226800
. Deferred Tax . 0  0 1868600 0
. Fringe Benefit Tax .  0  0 0  0
. Provision for Tax in respect of earlier years .  0  0 0  0
. Profit after Tax . -193821 11396668 2294381 14931345
. Balance brought forward from last year .  0 -9060889 0 -24678928
. Profit available for appropriation . -193821 2335779 2294381 -9747583
. APPROPRIATIONS . . . . .
. (a).................Interim dividends paid during the year . . . . .
. (b).................Proposed final dividend .  0 1182500 0  0
. (c).................Dividend distribution tax .  0  200966 0  0
. (d).................Transfer to General Reserve .  0  0 0  0
. (e)          Balance carried forward to Balance Sheet . -193823 952311 2294380 -9747584
. . . -193823 2335777 2294380 -9747584
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. . . . .