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.