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 31.03.2014 . . . ( Rs IN 000)
. PARTICULARS SCHEDULE FOR THE QUARTER TWELVE MONTH ENDING 31.03.2014 FOR THE QUARTER OF THE PRECEDING YEAR TWELVE MONTH ENDING 31.03.2013
1 OPERATING PROFIT/(LOSS)





(a)  Fire Insurance
-145 442 239 165 5956 686 3816 233

(b)  Marine Insurance
962 822 5102 498 2899 456 5958 037

(c )  Miscellaneous Insurance
8967 607 11403 423 865 940 8550 157

(d) Life Insurance
132 639 70 868 -76 513 22 852
2 INCOME FROM INVESTMENTS





(a) Interest, Dividend & Rent – Gross
1540 980 6260 620 1156 620 4492 459

(b) Profit on sale of investments
1232 799 2868 141 1369 705 2400 613

      Less: Loss on sale of investments




3 OTHER INCOME (To be specified)





Profit on Exchange
-154 201 935 657 -1756 302 274 019

Interest on Income-tax Refund
- 1 54 695 298 386 307 530

Motor Pool Service Charges
0 32 360 -10 867 0

Miscellaneous Receipts
693 3 167 798 7 856

TOTAL (A)
12537 896 26970 594 10703 909 25829 756
4 Provision for Doubtful Loans, Investment & Debts
-193 624 1248 847 50 283 95 680
5. Amortisation of premium on Investments
47 875 200 695 49 026 188 507
6. Diminution in the value of investments written off
1101 671 1111 486 30 832 32 281
7. OTHER EXPENSES
0
0

Expenses relating to Investments
2 272 6 574 2 491 9 915

Loss on sale of Assets (Net)
187 232 39 85

Interest on Service Tax
317 587 1368 396 1681 570 1681 570

TOTAL (B)
1275 968 3936 230 1814 241 2008 038

Profit Before Tax                                 
11261 928 23034 364 8889 668 23821 718

Provision for Taxation :





Current Tax
1958 830 4130 000 1833138 4060 000

Wealth Tax
4 498 4 183 2000 2 028

Mat Tax
-1839 757 -3634 844 -1439872 -3666 672

Deferred Tax
3 280 3 280 -19939 -19 855

Profit after Tax
11135 077 22531 745 8514 341 23446 217

Balance brought forward from last year
0 -9060 889 0 -24678 928

Profit available for appropriation
11135 077 13470 856 8514 341 -1232 711

APPROPRIATIONS





(a)                 Interim dividends paid during the year

1182 500 0 0

(b)                 Proposed final dividend
0 3311 000 4687000 4687 000

(c)                 Dividend distribution tax
562 704 763 670 796556 796 556

(d)                 Transfer to General Reserve
8212 790 8212 790 2344622 2344 622

(e) Balance carried forward to Balance Sheet
-951 415 896 686163 -9060 889



7824 079 13470 856 8514 341 -1232 711
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. . . . .