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 31.03.2021

( ₹ in 000)

 

PARTICULARS

SCHEDULE

For the  Three Months  ending 31.03.2021

For the Year ending 31.03.2021

For the  Three Months  ending 31.03.2020

For the Year ending 31.03.2020

1

OPERATING PROFIT/(LOSS)

     
 

(a)  Fire Insurance

 

5443 426

4788 292

7372 357

-5394 182

 

(b)  Marine Insurance

 

1845 568

-2431 144

3116 199

4004 048

 

(c )  Miscellaneous Insurance

 

5231 984

 1,22,49,494

-579 687

-6982 535

 

(d)  Life Insurance

 

-1243 559

-1249 129

-207 984

 2,86,963

       

2

INCOME FROM INVESTMENTS

     
 

(a)  Interest, Dividend & Rent – Gross

 

3569 826

10534 985

2626 275

9070 466

 

(b)  Profit on sale of investments

 

2663 903

9431 592

2131 910

6598 301

 

      Less: Loss on sale of investments

 

 0

 0

 0

 0

       

3

OTHER INCOME (To be specified)

     
 

Foreign gain/(loss)

 

 0

 0

750 156

1195 815

 

Profit on sale of Assets (Net)

 

- 365

 262

 0

 0

 

Sundry Balances Written Back (Net)

 

 0

 0

 0

 0

 

Interest on Income-tax Refund

 

-22 488

-22 488

 0

 0

 

(Provision)/doubtful debts written back

 

 0

 0

 0

 0

 

Motor Pool Service Charges

 

 0

 0

 0

 0

 

Miscellaneous Receipts

 

13 493

22 684

2 243

19 046

 

TOTAL (A)

 

17501 788

33324 548

15211 469

8797 922

4

Provision for Doubtful Loans & Investment

 

1710 053

3509 240

329 967

8589 428

5

Provision /(written off) for Doubtful  Debts

 

-5950 349

-3683 288

1012 315

1317 127

6

Amortisation of premium on Investments

 

98 534

349 484

80 165

315 009

7

Diminution in the value of investments written off

 

340 251

340 251

2256 234

2256 234

8

OTHER EXPENSES

     
 

Expenses relating to Investments

 

 0

 0

 0

 0

 

Forex loss/(gain)

 

316 716

623 047

 0

 0

 

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

 

 0

 0

1 097

3 547

 

Sundry Balances Written off (Net)

 

 4

 4

- 446

 0

 

Interest & others

 

5 338

7 988

1 080

1 090

 

Corporate Social Responsibility

 

526 431

544 000

520 168

775 198

 

IPO expenses

 

 0

 0

 0

 0

 

TOTAL (B)

 

-2953 022

1690 726

4200 580

13257 633

 

Profit Before Tax                                 

 

20454 810

31633 822

11010 889

-4459 711

 

Provision for Taxation :

     
 

Current Tax

 

8085 252

12518 300

 19,587

110 001

 

Wealth Tax

 

 0

 0

 0

 0

 

MAT Credit

 

 0

 0

 0

 0

 

Deferred Tax

 

-116 760

29 176

 (186 281)

-182 311

 

Fringe Benefit Tax

 

 0

 0

 0

 0

 

Provision for Tax in respect of earlier years

 

-118 035

-118 035

 (796 487)

-796 487

 

MAT Credit of earlier year

 

 0

 0

 0

 0

 

Profit after Tax

 

12604 353

19204 381

11974 070

-3590 914

 

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

 

12604 353

41640 289

 1,19,74,069

22435 908

       

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.