FORM NL-3-B-BS



Name of the Insurer:  GENERAL INSURANCE CORPORATION OF INDIA   



Registration No.  112



Date of  Registration with the IRDAI : 2nd April, 2001



BALANCE SHEET  AS AT 31 December 2018


( ` IN 000)

PARTICULARS SCHEDULE As at 31.12.2018 As at 31.12.2017

SOURCES OF FUNDS



SHARE CAPITAL                                                               NL-8-Share Capital Schedule 8772 000 4386 000

SHARE APPLICATION MONEY PENDING ALLOTMENT



RESERVES AND SURPLUS NL-10-Reserves and Surplus Schedule 218448 321 210124 138

Deferred Tax Liability
0 0

FAIR VALUE CHANGE ACCOUNT



Shareholders fund
78747 087 96813 006

Policyholders fund
220899 363 241339 304

BORROWINGS NL-11-Borrowings Schedule 0 0

TOTAL
526866 771 552662 448

APPLICATION OF FUNDS



INVESTMENTS- Shareholders NL-12-Investment Schedule 209340 397 214885 382

INVESTMENTS- Policyholders NL-12-Investment Schedule 570546 495 520843 150

LOANS NL-13-Loans Schedule 2598 088 2838 630

FIXED ASSETS NL-14-Fixed Assets Schedule 1860 919 1724 158

DEFERRED TAX ASSET
127 197 127 114

CURRENT ASSETS



Cash and Bank Balances NL-15-Cash and bank balance Schedule 120856 406 129575 813

Advances and Other Assets NL-16-Advancxes and Other Assets Schedule 288343 134 243856 141

Sub-Total (A)
409199 540 373431 954

CURRENT LIABILITIES NL-17-Current Liabilities Schedule 526565 559 434331 266

PROVISIONS NL-18-Provisions Schedule 140240 306 126856 674

DEFERRED TAX LIABILITY



Sub-Total (B)
666805 865 561187 940

NET CURRENT ASSETS (C) = (A - B)
-257606 325 -187755 986

MISCELLANEOUS EXPENDITURE (to the extent not written off or adjusted) NL-19-Miscellaneous Expenditure Schedule 0 0

DEBIT BALANCE IN PROFIT AND LOSS ACCOUNT



TOTAL
526866 771 552662 448










CONTINGENT LIABILITIES




Particulars
As at 31.12.2018 As at 31.12.2017



(Rs.’000) (Rs.’000)
1 Partly paid-up investments


2 Claims, other than against policies, not acknowledged as debts by the company
11000
3 Underwriting commitments outstanding (in respect of shares and securities)


4 Guarantees given by or on behalf of the Company
22304980 1849154
5 Statutory demands/ liabilities in dispute, not provided for
17432822 1725116
6 Reinsurance obligations to the extent not provided for in accounts


7 Others (to be specified)



TOTAL
39748 802 3574 270