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 31.12.2015
PARTICULARS SCHEDULE For the quarter ending 31.12.2015 Up to  the quarter ending 31.12.2015 For the corresponding quarter of the preceeding year  ( ` IN 000)
Up to the Quarter of the prceeding year
1 OPERATING PROFIT/(LOSS)
(a)  Fire Insurance -2683848 -3272264 7475630 7471832
(b)  Marine Insurance 3234289 4666429 -604427 1580804
(c )  Miscellaneous Insurance 2640887 9360385 -5505556 6211133
(d)  Life Insurance 267344 467891 423103 627292
2 INCOME FROM INVESTMENTS
(a)  Interest, Dividend & Rent – Gross 1814891 6415248 1534321 5415653
(b)  Profit on sale of investments 1661983 2843812 849878 3160820
      Less: Loss on sale of investments
3 OTHER INCOME (To be specified)
Profit on Exchange -84400 777668 97104 37027
Profit on sale of Assets (Net) 0 0 -74 0
Sundry Balances Written Back (Net) 0 22 0 0
Interest on Income-tax Refund 0 0 0 757504
Motor Pool Service Charges 0 0 -936 781
Miscellaneous Receipts 4366 6728 493 4959
TOTAL (A) 6855512 21265919 4269536 25267805
4 Provision for Doubtful Loans & Investment  540316 1694782 444032 715252
5 Provision for Doubtful  Debts 0 0 0 0
6 Amortisation of premium on Investments 45952 138000 44300 138153
7 Diminution in the value of investments written off 0 5790 0 0
8 OTHER EXPENSES
Expenses relating to Investments 2683 7349 2369 6021
Loss on Exchange 0 0 0 0
Loss on sale of Assets (Net) -75 68 62 62
Sundry Balances Written off (Net) 0 0 0 0
Loss on Distribution of LPA Assets 0 0 0 0
Interest on Service Tax 137 7483 0 310848
Corporate Social Responsibility 384830 401417 11200 21200
TOTAL (B) 973843 2254889 501963 1191536
Profit Before Tax                                  5881669 19011030 3767573 24076269
Provision for Taxation :
Current Tax 1180907 3416307 461117 4660000
Wealth Tax 0 0 0 7259
Mat Tax -788140 -788140 0 0
Deferred Tax 0 0 0 0
Fringe Benefit Tax 0 0 0 0
Provision for Tax in respect of earlier years 7722 7722 0 0
Profit after Tax 5481180 16375141 3306456 19409010
Balance brought forward from last year 0 769 0 896
Profit available for appropriation 5481180 16375910 3306456 19409906
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 5481179 16375909 3306459 19409908
Total 5481179 16375909 3306459 19409908

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.