FORM NL-16-ADVANCES AND OTHER ASSETS SCHEDULE

Name of the Insurer:  GENERAL INSURANCE CORPORATION OF INDIA   

ADVANCES AND OTHER ASSETS

     

(` '000)

 

Particulars

As at 31.12.2019

As at 31.12.2018

 

ADVANCES

   

1

Reserve deposits with ceding companies

92785 734

67081 648

2

Application money for investments

 0

 0

3

Prepayments

59 651

51 872

4

Advances to  Directors/Officers

5 778

9 885

5

Advance tax paid and taxes deducted at source (Net of provision for taxation)

7217 682

610 557

6

Others

787 325

119 522

7

Deferred Commission

 0

 0

 

TOTAL (A)

100856 170

67873 484

 

OTHER ASSETS

   

1

Income accrued on investments

10867 785

10442 940

2

Outstanding Premiums

   

3

Agents’ Balances

   

4

Foreign Agencies Balances

   

2

Due from other entities carrying on insurance business  (including reinsurers)

209983 128

172522 855

3

Due from subsidiaries/ holding

   

3

Deposit U/S-7 of Insurance Act

 0

 0

4

Sundry Debtors

2100 431

1331 407

5

Sundry Deposits

13440 219

10192 841

10

LPA Assets

 0

 0

6

MAT Credit Entitlement

14438 189

18864 155

7

Service Tax Unutilised Credit

 0

 0

8

GST Asset

2129 606

1233 929

9

VAT Asset Dubai

 0

 0

 

TOTAL (B)

252959 358

214588 127

 

TOTAL (A+B)

353815 528

282461 611

       

Notes:

(a)        The items under the above heads shall not be shown net of provisions for doubtful amounts. The amount of provision against each head should be shown separately.

(b)        The term ‘officer’ should conform to the definition of that term as  given under the Companies Act, 2013.

(c)        Sundry Debtors will be shown under item 9(others)