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 | |||||||||||
REVENUE ACCOUNT FOR THE PERIOD ENDED 30.06.2020 | ( Rs. '000) | ||||||||||
PARTICULARS | SCHEDULE | For the Three Months ending 30.06.2020 | Upto Three Months Ending 30.06.2020 | For the Three Months ending 30.06.2019 | Upto Three Months Ending 30.06.2019 | ||||||
1 | OPERATING PROFIT/(LOSS) | ||||||||||
(a) Fire Insurance | -8387 445 | -8387 445 | 4251 768 | 4251 768 | |||||||
(b) Marine Insurance | -182 120 | -182 120 | 391 939 | 391 939 | |||||||
(c ) Miscellaneous Insurance | -252 927 | (252 927) | -2326 495 | -2326 495 | |||||||
(d) Life Insurance | 292 564 | 292 564 | -274 333 | (274 333) | |||||||
2 | INCOME FROM INVESTMENTS | ||||||||||
(a) Interest, Dividend & Rent – Gross | 1762 045 | 1762 045 | 2320 172 | 2320 172 | |||||||
(b) Profit on sale of investments | 482 610 | 482 610 | 1112 287 | 1112 287 | |||||||
Less: Loss on sale of investments | 0 | 0 | 0 | 0 | |||||||
3 | OTHER INCOME (To be specified) | ||||||||||
Foreign gain/(loss) | 148 851 | 148 851 | 72 342 | 72 342 | |||||||
Profit on sale of Assets (Net) | 439 | 439 | 31 | 31 | |||||||
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 | 5 454 | 5 454 | 2 748 | 2 748 | |||||||
TOTAL (A) | -6130 529 | -6130 529 | 5550 459 | 5550 459 | |||||||
4 | Provision for Doubtful Loans & Investment | 454 697 | 454 697 | 3431 443 | 3431 443 | ||||||
5 | Provision /(written off) for Doubtful Debts | 1445 870 | 1445 870 | 598 145 | 598 145 | ||||||
6 | Amortisation of premium on Investments | 79 211 | 79 211 | 73 986 | 73 986 | ||||||
7 | Diminution in the value of investments written off | 0 | 0 | 0 | 0 | ||||||
8 | OTHER EXPENSES | ||||||||||
Expenses relating to Investments | 0 | 0 | 0 | 0 | |||||||
Forex loss/(gain) | 0 | 0 | 0 | 0 | |||||||
(Profit)/Loss on sale of Assets (Net) | 0 | 0 | 0 | 0 | |||||||
Sundry Balances Written off (Net) | 0 | 0 | 0 | 0 | |||||||
Interest & others | 10 | 10 | 10 | 10 | |||||||
Corporate Social Responsibility | 1 894 | 1 894 | 57 842 | 57 842 | |||||||
IPO expenses | 0 | 0 | 0 | 0 | |||||||
TOTAL (B) | 1981 682 | 1981 682 | 4161 426 | 4161 426 | |||||||
Profit Before Tax | -8112 211 | -8112 211 | 1389 033 | 1389 033 | |||||||
Provision for Taxation : | |||||||||||
Current Tax | 34 248 | 34 248 | 307,269 | 307 269 | |||||||
Wealth Tax | 0 | 0 | 0 | 0 | |||||||
MAT Credit | 0 | 0 | (4 749) | -4 749 | |||||||
Deferred Tax | -2571 781 | -2571 781 | 561 | 561 | |||||||
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 | 0 | 0 | |||||||
Profit after Tax | -5574 678 | -5574 678 | 1085 952 | 1085 952 | |||||||
Appropriations | |||||||||||
Balance brought forward from last year | 22435 908 | 22435 908 | 40,303,305 | 40303 305 | |||||||
(a) Interim dividends paid during the year | 0 | 0 | 0 | 0 | |||||||
(b) 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 | 16861 230 | 16861 230 | 41,389,257 | 41389 257 | |||||||
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. | |||||||||||