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Revenue Account

Revenue Account

Revenue Account For The Period Ended 31 March 2020 In Respect Of Fire Insurance Business
  Particulars Schedule Current Year Previous Year
      (` '000) (` '000)
1. Premiums earned (Net) 1
90,568,870
80,367,690
2. Profit on sale of Investments (Net)  
6023,232
5109,136
3. Forex Gain/( Loss)  
1108,278
557,235
4. Interest, Dividend & Rent - Gross  
82,79,938
75,756,604
  Total (A)  
1,059,803,184
93,609,721
1. Claims Incurred (Net) 2
81,111,615
82,942,803
2. Commission (Net) 3
29,350,085
21,763,124
3. Operating Expenses related to Insurance Business 4
912,800
611,949
4. Expenses relating to Investments  
0
0
5. Premium Deficiency   0 0
  Total (B)  
1,11,374,500
1,05,317,876
         
  Operating Profit /- Loss from Fire Business C = (A-B)  
-53,94,182
-11,708,155
  APPROPRIATIONS      
  Transfer to Shareholders' Account  
-53,94,182
-11,708,155
  Transfer to Catastrophe Reserve   0 -
  Transfer to Other Reserves (to be specified)   0 -
  Total (C)  
-53,94,182
-11,708,155
As required by Section 40C (2) of the Insurance Act, 1938, we certify that, all expenses of management, wherever incurred, whether directly or indirectly, in respect of Miscellaneous Insurance Business have been fully debited in the Miscellaneous Insurance Revenue Accounts as expenses.
In Respect of Miscellaneous Insurance Business
  Particulars Schedule Current Year Previous Year
         
      (` '000) (` '000)
1. Premiums earned (Net) 1
3,26,924,651
2,79,417,110
2. Profit on sale of Investments (Net)  
96,92,500
16,034,749
3. Forex Gain/( Loss)  
28,87,121
14,78,486
4. Interest, Dividend & Rent - Gross  
22,042,441
18,469,426
  Total (A)  
3,67,888,962
3,11,821,073
1. Claims Incurred (Net) 2
3,29,872,698
2,40,318,292
2. Commission (Net) 3
42372916
36,460,623
3. Operating Expenses related to Insurance Business 4
26,25,883
18,36,221
4. Expenses relating to Investments  
0
0
5. Premium Deficiency   0 0
  Total (B)  
3,74,871,497
2,78,615,136
         
  Operating Profit/-Loss from Miscellaneous Business C = (A-B)  
-69,82,535
33,205,937
  APPROPRIATIONS      
  Transfer to Shareholders' Account  
-69,82,535
33,205,937
  Transfer to Catastrophe Reserve   0 0
  Transfer to Other Reserves (to be specified)   0 0
  Total (C)  
-69,82,535
33,205,937
As required by Section 40C (2) of the Insurance Act, 1938, we certify that, all expenses of management, wherever incurred, whether directly or indirectly, in respect of Miscellaneous Insurance Business have been fully debited in the Miscellaneous Insurance Revenue Accounts as expenses.
In Respect of Marine Insurance Business
  Particulars Schedule Current Year Previous Year
         
      (` '000) (` '000)
1. Premiums earned (Net) 1
16,043,131
12,145,987
2. Profit on sale of Investments (Net)  
10,87,250
9,21974
3. Forex Gain/( Loss)  
1,97,315
1,09,503
4. Interest, Dividend & Rent - Gross  

109503
13,67,072
  Total (A)  
18,822,303
14,544,536
1. Claims Incurred (Net) 2
11,431,957
81,97,073
2. Commission (Net) 3
32,62,323
27,54,350
3. Operating Expenses related to Insurance Business 4
1,23,975
83,479
4. Expenses relating to Investments  
0
0
5. Premium Deficiency   0 0
  Total (B)  
14,818,255
14,818,255
         
  Operating Profit/-Loss from Marine Business C = (A-B)  
40,04,048
35,09,634
  APPROPRIATIONS      
  Transfer to Shareholders' Account  
4004048
3509634
  Transfer to Catastrophe Reserve   0 0
  Transfer to Other Reserves (to be specified)   0 0
  Total (C)  
40,04,048
35,09,634
As required by Section 40C (2) of the Insurance Act, 1938, we certify that, all expenses of management, wherever incurred, whether directly or indirectly, in respect of Marine Insurance Business have been fully debited in the Marine Insurance Revenue Accounts as expenses.
In Respect of Life Insurance Business
  Particulars Schedule Current Year Previous Year
         
      (` '000) (` '000)
1. Premiums earned (Net) 1
79,17,615
48,60,050
2. Profit on sale of Investments (Net)  
2,62,707
1,72,152
3. Forex Gain/( Loss)  
47608
16,546
4. Interest, Dividend & Rent - Gross  
3,61,135
2,55,262
  Total (A)  
85,89,065
53,04,010
1. Claims Incurred (Net) 2
79,42,310
59,41,287
2. Commission (Net) 3
98,173
76,197
3. Operating Expenses related to Insurance Business 4
67,465
28,904
4. Expenses relating to Investments  
0
0
5. Premium Deficiency   1,94,154 52,944
  Total (B)  
83,02,102
60,99,332
         
  Operating Profit/-Loss from Life Business C = (A-B)  
28,69,63
-7,95,322
  APPROPRIATIONS      
  Transfer to Shareholders' Account  
2,86,963
-7,95,322
  Transfer to Catastrophe Reserve   - -
  Transfer to Other Reserves (to be specified)   - -
  Total (C)  
2,86,963
-7,95,322
As required by Section 40C (2) of the Insurance Act, 1938, we certify that, all expenses of management, wherever incurred, whether directly or indirectly, in respect of Marine Insurance Business have been fully debited in the Marine Insurance Revenue Accounts as expenses.
 
 
 
 

 

Ranked 11th Among the top
40 global reinsurance
groups by S&P Ranking