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 PERIOD ENDED 30.06.2015
Sr. No.
PARTICULARS SCHEDULE For the quarter ending 30.06.2015 Up to  the quarter ending 30.06.2015 For the corresponding quarter of the preceeding year  Up to the Quarter of the prceeding year
1 OPERATING PROFIT/(LOSS)
(a)  Fire Insurance 1624835 1624835 2120143 2120143
(b)  Marine Insurance 592350 592350 521729 521729
(c )  Miscellaneous Insurance 869486 869486 3211505 3211505
(d)  Life Insurance 260157 260157 -13820 -13820
2 INCOME FROM INVESTMENTS
(a)  Interest, Dividend & Rent – Gross 1865849 1865849 1594439 1594439
(b)  Profit on sale of investments 308749 308749 1491534 1491534
      Less: Loss on sale of investments
3 OTHER INCOME (To be specified)
Profit on Exchange 270142 270142 -59151 -59151
Profit on sale of Assets (Net) 28 28 0 0
Sundry Balances Written Back (Net) 0 0 0 0
Interest on Income-tax Refund 0 0 757503 757503
Motor Pool Service Charges 1377 1377 677 677
Miscellaneous Receipts 1400 1400 1041 1041
TOTAL (A) 5794373 5794373 9625600 9625600
4 Provision for Doubtful Loans & Investment  162870 162870 27459 27459
5 Provision for Doubtful  Debts 0 0 1 1
6 Amortisation of premium on Investments 45530 45530 47115 47115
7 Diminution in the value of investments written off -297 -297 0 0
8 OTHER EXPENSES 0 0
Expenses relating to Investments 1876 1876 1371 1371
Loss on Exchange 0 0 0 0
Loss on sale of Assets (Net) 0 0 2 2
Sundry Balances Written off (Net) 0 0 0 0
Loss on Distribution of LPA Assets 0 0 0 0
Interest on Service Tax 7346 7346 310848 310848
Corporate Social Responsibility 6579 6579 0 0
TOTAL (B) 223904 223904 386796 386796
Profit Before Tax                                  5570469 5570469 9238804 9238804
Provision for Taxation :
Current Tax 2235400 2235400 1910151 1910151
Wealth Tax 0 0 0 0
Mat Tax 0 0 0 0
Deferred Tax 0 0 0 0
Fringe Benefit Tax 0 0 0 0
Provision for Tax in respect of earlier years 0 0 0 0
Profit after Tax 3335069 3335069 7328653 7328653
Balance brought forward from last year 769 769 896 896
Profit available for appropriation 3335838 3335838 7329549 7329549
APPROPRIATIONS
(a)                 Interim dividends paid during the year 0 0 0 0
(b)                 Proposed final dividend 0 0 0 0
(c)                 Dividend distribution tax 0 0 0 0
(d)                 Transfer to General Reserve 0 0 0 0
(e)                 Balance carried forward to Balance Sheet 3335836 3335836 7329552 7329552
3335836 3335836 7329552 7329552
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.