Financial Year 2012-13 (27 MB) - The New India Assurance Co. Ltd.

Leadership and BeyondFire Insurance Revenue Account for the year ended 31st March, 2013Particulars Schedule Current year` (000)Previous year` (000)1. Premium Earned (Net) 1 15787472 137896812. Profit on Sale or Redemption of Investments (Policy Holders) - 1474743 989174Loss on Sale or Redemption of Investments (Policy Holders) 0 03. Interest, Dividend and Rent (Gross) - 2727431 21358504. Premium Deficiency 748441 (1100382)Total (A) 20738088 158143231. Claims Incurred (Net) 2 12665095 165734562. Commission 3 2413338 19301063. Operating Expenses Related to Insurance Business 4 5015177 40323314. Others - Foreign Taxes 5233 9648Amortisation, Write off, Provisions - Investments (1636) (12955)Total (B) 20097207 22532586Operating Profit/ (Loss) C=(A-B) 640881 (6718263)AppropriationsTransfer to Share Holders Account (Profit and Loss Account) - 640881 (6718263)Transfer to Catastrophic Reserves - 0 0Transfer to Other Reserves - 0 0Significant Accounting Policies and Notes to Accounts 16Total 640881 (6718263)As required by section 40C(2) of the Insurance Act 1938, we certify that, to the best of our knowledge andaccording to the information and explanations given to us, and so far as appears from our examination of theCompany's books of account, all expenses of management, wherever incurred, whether directly or indirectly inrespect of fire insurance business have been fully debited in the fire insurance revenue account as expenses.The schedules referred to above form integral part of the revenue accountJayashree Nair K. Sanath Kumar A. R. Sekar G. SrinivasanCompany Secretary Director Director Chairman-Cum- Managing DirectorAs per our report of even dateFor FORD, RHODES, PARKS & CO. For S R GOYAL & CO. For JCR & Co.Firm Reg No.102860W Firm Reg. No.001537C Firm Reg. No.105270WChartered Accountants Chartered Accountants Chartered AccountantsShrikant B. Prabhu Praveen Goyal Saiprabha R.Partner Partner PartnerMembership Number 035296 Membership Number 074789 Membership Number 034716New DelhiApril 30, 2013ANNUAL REPORT107