FORM NL-2-B-PL |
Name of the Insurer: GENERAL INSURANCE CORPORATION OF INDIA |
Registration No. 112 |
Date of Registration with the IRDAI : 2nd April, 2001 |
PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 30.06.2017 |
( ` IN 000) |
|
PARTICULARS |
SCHEDULE |
For the Three Months ending 30.06.2017 |
Up to the Three Months ending 30.06.2017 |
For the corresponding Three months of the preceeding year |
Up to the corresponding three months of the prceeding year |
1 |
OPERATING PROFIT/(LOSS) |
|
|
|
|
|
|
(a) Fire Insurance |
|
1091 617 |
1091 617 |
1915 293 |
1915 293 |
|
(b) Marine Insurance |
|
2241 460 |
2241 460 |
3018 553 |
3018 553 |
|
(c ) Miscellaneous Insurance |
|
(2,053,045) |
(2,053,045) |
2849 805 |
2849 805 |
|
(d) Life Insurance |
|
260 852 |
260 852 |
(697,027) |
(697,027) |
|
|
|
|
|
|
|
2 |
INCOME FROM INVESTMENTS |
|
|
|
|
|
|
(a) Interest, Dividend & Rent – Gross |
|
2457 450 |
2457 450 |
2016 124 |
2016 124 |
|
(b) Profit on sale of investments |
|
1042 945 |
1042 945 |
564 755 |
564 755 |
|
Less: Loss on sale of investments |
|
0 |
0 |
0 |
0 |
|
|
|
|
|
|
|
3 |
OTHER INCOME |
|
|
|
|
|
|
Foreign gain/(loss) |
|
0 |
0 |
310 248 |
310 248 |
|
Profit on sale of Assets (Net) |
|
2 |
2 |
0 |
0 |
|
Sundry Balances Written Back (Net) |
|
0 |
0 |
0 |
0 |
|
Interest on Income-tax Refund |
|
0 |
0 |
0 |
0 |
|
(Provision) / Doubtful Debts Written Back |
|
0 |
0 |
0 |
0 |
|
Motor Pool Service Charges |
|
0 |
0 |
0 |
0 |
|
Miscellaneous Receipts |
|
1 087 |
1 087 |
594 |
594 |
|
TOTAL (A) |
|
5,042,368 |
5042 368 |
9978 345 |
9978 345 |
4 |
Provision for Doubtful Loans & Investment |
|
721 946 |
721 946 |
90,596 |
90 596 |
5 |
Provision / (written off) for Doubtful Debts |
|
246 818 |
246 818 |
0 |
0 |
6 |
Amortisation of premium on Investments |
|
51 748 |
51 748 |
46,033 |
46 033 |
7 |
Diminution in the value of investments written off |
|
0 |
0 |
0 |
0 |
8 |
OTHER EXPENSES |
|
|
|
|
|
|
Expenses relating to Investments |
|
1 838 |
1 838 |
1,810 |
1 810 |
|
Foreox loss/(gain) |
|
90 396 |
90 396 |
0 |
0 |
|
(Profit) / Loss on sale of Assets (Net) |
|
0 |
0 |
0 |
0 |
|
Interest & others |
|
4 |
4 |
0 |
0 |
|
Corporate Social Responsibility expenses |
|
15 123 |
15 123 |
51,140 |
51 140 |
|
IPO expenses |
|
792 |
792 |
0 |
0 |
|
TOTAL (B) |
|
1128 665 |
1128 665 |
189,579 |
189 579 |
|
Profit Before Tax |
|
3913 703 |
3913 703 |
9788 766 |
9788 766 |
|
Provision for Taxation : |
|
|
|
|
|
|
Current Tax |
|
760 000 |
760 000 |
2748 522 |
2748 522 |
|
MAT Credit |
|
(749,114) |
(749,114) |
0 |
0 |
|
Deferred Tax |
|
1 746 |
1 746 |
0 |
0 |
|
Provision for Tax in respect of earlier years |
|
0 |
0 |
0 |
0 |
|
MAT Credit of earlier year |
|
0 |
0 |
0 |
0 |
|
Profit after Tax |
|
3901 071 |
3901 071 |
7040 244 |
7040 244 |
|
Balance brought forward from last year |
|
31277 556 |
31277 556 |
874 |
874 |
|
Profit available for appropriation |
|
35178 627 |
35178 627 |
7041 118 |
7041 118 |
|
APPROPRIATIONS |
|
|
|
0 |
|
|
(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 |
|
35178 627 |
35178 627 |
7041 118 |
7041 118 |
|
|
|
35178 627 |
35178 627 |
7041 118 |
7041 118 |
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. |