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 31.12.2017 ( ` IN 000)
  PARTICULARS SCHEDULE For the  Nine Months  ending 31.12.2017 Up to  the  Nine Months  ending 31.12.2017 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 -1800 314 -7964 060 41 801 -515 156
  (b)  Marine Insurance -412 048 4846 267 1578 608 4546 246
  (c )  Miscellaneous Insurance 6633 722 25,524,826 -10034 315 -3468 064
  (d)  Life Insurance -569 652 95 963 279 778 (596 498)
    0 0
2 INCOME FROM INVESTMENTS
  (a)  Interest, Dividend & Rent – Gross 2405 237 7320 554 1982 597 6998 944
  (b)  Profit on sale of investments 1510 059 3027 662 973 776 2403 602
        Less: Loss on sale of investments 0 0
   
3 OTHER INCOME (To be specified)
  Foreign gain/(loss) -85 122 0 350 915 590 282
  Profit on sale of Assets (Net) 19 19 0 0
  Sundry Balances Written Back (Net) 0 0 0 0
  Interest on Income-tax Refund 0 0 166 816 166 816
  (Provision)/doubtful debts written back
  Motor Pool Service Charges 0 0 0 0
  Miscellaneous Receipts 31 310 33 725 603 4 403
  TOTAL (A)   7713 211 32884 956 -4659 421 10130 575
4 Provision for Doubtful Loans & Investment    -962 751 581 237 267 717 941 152
5 Provision /(written off) for Doubtful  Debts   170 425 524 581 0 2261 980
6 Amortisation of premium on Investments   70 647 182 201 45 848 137 070
7 Diminution in the value of investments written off   0 0 0 0
8 OTHER EXPENSES   0 0
  Expenses relating to Investments   2 983 7 089 2 984 7 736
  Foreox loss/(gain)   411 609 411 610 0 0
  (profit)/Loss on sale of Assets (Net)   - 21 0 115 115
  Interest & others   75 789 87 789 1 261 1 261
  Corporate Social Responsibility   8 979 24 968 21 983 149 963
  IPO expenses   55 745 94 995 0 0
  TOTAL (B)   -166 595 1914 470 339 908 3499 277
  Profit Before Tax   7879 806 30970 486 -4999 329 6631 298
  Provision for Taxation :   0
  Current Tax 1145 517 6144 209 (1108 758) 963 740
  Deferred Tax 6 667 7 163 0 0
MAT Credit of earlier year - 755 119,320 119 320
  Profit after Tax   6727 622 24819 869 -4009 891 5548 238
  Balance brought forward from last year   0 31277 556 0 874
  Profit available for appropriation   6727 622 56097 425 -4009 891 5549 112
  APPROPRIATIONS   0
  (a)                 Interim dividends paid during the year   0 0 0 0
  (b)                 Proposed final dividend   0 10020 000 0 0
  (c)                 Dividend distribution tax   0 2039 872 0 0
  (d)                 Transfer to General Reserve   0 19216 800 0 0
  (e)          Balance carried forward to Balance Sheet   6727 622 24820 753 (4009 891) 5549 112
      6727 622 56097 425 -4009 891 5549 112
Note 1 -The above profit includes prior period item (Net)-:17573300
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.