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 31.12.2020

   

( in 000)

 

PARTICULARS

SCHEDULE

For the  Three Months  ending 31.12.2020

Upto Nine Months Ending 31.12.2020

For the  Three Months  ending 31.12.2019

Upto Nine Months Ending 31.12.2019

1

OPERATING PROFIT/(LOSS)

     
 

(a)  Fire Insurance

 

3661 379

-655 134

-7599 385

-12766 539

 

(b)  Marine Insurance

 

-1101 320

-4276 712

1002 495

887 849

 

(c )  Miscellaneous Insurance

 

8507 500

 7,017,510

-5304 069

-6402 848

 

(d)  Life Insurance

 

-765 587

-5 570

789 799

 494,947

       

2

INCOME FROM INVESTMENTS

     
 

(a)  Interest, Dividend & Rent – Gross

 

2444 411

6965 159

1653 008

6444 191

 

(b)  Profit on sale of investments

 

3271 908

6767 689

2153 664

4466 391

 

      Less: Loss on sale of investments

 

 0

 0

 0

 0

       

3

OTHER INCOME (To be specified)

     
 

Foreign gain/(loss)

 

 0

 0

153 773

445 659

 

Profit on sale of Assets (Net)

 

- 224

 627

 0

 0

 

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

 

2 147

9 191

2 057

16 803

 

TOTAL (A)

 

16020 214

15822 760

-7148 658

-6413 547

4

Provision for Doubtful Loans & Investment

 

364 818

1799 187

3208 940

8259 461

5

Provision /(written off) for Doubtful  Debts

 

394 505

2267 061

78 177

304 812

6

Amortisation of premium on Investments

 

90 744

250 950

81 667

234 844

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)

 

-8 354

306 331

 0

 0

 

(Profit)/Loss on sale of Assets (Net)

 

 0

 0

2 423

2 450

 

Sundry Balances Written off (Net)

 

 0

 0

 6

 446

 

Interest & others

 

2 640

2 650

 0

 10

 

Corporate Social Responsibility

 

7 424

17 569

139 435

255 030

 

IPO expenses

 

 0

 0

 0

 0

 

TOTAL (B)

 

851 777

4643 748

3510 648

9057 053

 

Profit Before Tax                                 

 

15168 437

11179 012

-10659 306

-15470 600

 

Provision for Taxation :

     
 

Current Tax

 

4363 869

4433 048

 30,922

90 414

 

Wealth Tax

 

 0

 0

 0

 0

 

MAT Credit

 

 0

 0

 0

 0

 

Deferred Tax

 

930 377

145 936

 6,171

3 970

 

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

 

9874 191

6600 028

-10696 399

-15564 984

 

Appropriations

     
 

Balance brought forward from last year

 

 0

22435 908

 0

40303 305

 

(a)                 Interim dividends paid during the year

 

 0

 0

 0

 0

 

(b)                 Final dividend

 

 0

 0

 0

11842 200

 

(c)                 Dividend distribution tax

 

 0

 0

 0

2434 283

 

(d)                 Transfer to General Reserve

 

 0

 0

 0

 0

 

(e)          Balance carried forward to Balance Sheet

 

9874 188

29035 936

 (10696 398)

10461 839

       

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.