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 PERIOD ENDED 31.12.2018




( ` IN 000)

PARTICULARS SCHEDULE For the Three Months ending 31.12.2018 Up to the Nine Months ending 31.12.2018 For the corresponding Three months of the preceeding year Up to the corresponding Nine months of the prceeding year
1 OPERATING PROFIT/(LOSS)





(a)  Fire Insurance
-3211 251 -8189 791 -1800 313 -7964 060

(b)  Marine Insurance
296 239 1766 133 -412 047 4846 267

(c )  Miscellaneous Insurance
12042 056 18,803,754 6633 722 25524 826

(d) Life Insurance
-139 948 -103 023 -569 652 95,963



0
0
2 INCOME FROM INVESTMENTS





(a) Interest, Dividend & Rent – Gross
2372 153 7651 636 2405 237 7320 554

(b) Profit on sale of investments
1711 453 4979 290 1510 059 3027 662

      Less: Loss on sale of investments
0
0







3 OTHER INCOME (To be specified)





Foreign gain/(loss)
-670 464 978 256 -85 122 0

Profit on sale of Assets (Net)
0 0 19 19

Sundry Balances Written Back (Net)
0 0 0 0

Interest on Income-tax Refund
0 0 0 0

(Provision)/doubtful debts written back





Motor Pool Service Charges
0 0 0 0

Miscellaneous Receipts
1 467 34 224 31 309 33 725

TOTAL (A)
12401 705 25920 479 7713 212 32884 956
4 Provision for Doubtful Loans & Investment
1960 398 2818 972 -962 752 581 237
5 Provision /(written off) for Doubtful Debts
-141 944 335 670 170 425 524 581
6 Amortisation of premium on Investments
75 642 231 621 70 647 182 201
7 Diminution in the value of investments written off
4 500 4 500 0 0
8 OTHER EXPENSES
0
0

Expenses relating to Investments
3 189 9 666 2 983 7 089

Foreox loss/(gain)
0 0 411 610 411 610

(profit)/Loss on sale of Assets (Net)
- 73 157 - 21 0

Interest & others
0 7 132 75 789 87 789

Corporate Social Responsibility
98 950 115 369 8 980 24 968

IPO expenses
0 0 55 745 94 995

TOTAL (B)
2000 662 3523 087 -166 594 1914 470

Profit Before Tax                                 
10401 043 22397 392 7879 806 30970 486

Provision for Taxation :


0

Current Tax
4176 200 6171 200 1,145,518 6144 210

Wealth Tax
0 0 0 0

MAT Credit
1993 660 0 0 0

Deferred Tax
874 484 16 833 6,667 7 163

Fringe Benefit Tax
0 0 0 0

Provision for Tax in respect of earlier years
0 0 0 0

MAT Credit of earlier year

0 0 - 755

Profit after Tax
3356 699 16209 359 6727 621 24819 868

Balance brought forward from last year
30912 907 32336 730 18093 131 31277 556

Profit available for appropriation
34269 606 48546 089 24820 752 56097 424

APPROPRIATIONS


0

(a)                 Interim dividends paid during the year
0 0 0 0

(b)                 Proposed final dividend
0 11842 200 0 10020 000

(c)                 Dividend distribution tax
0 2434 283 0 2039 872

(d)                 Transfer to General Reserve
0 0 0 19216 800

(e) Balance carried forward to Balance Sheet
34269 606 34269 606 24820 752 24820 752



34269 606 48546 089 24820 752 56097 424
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.