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

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ue#³e keÀer TB®eer Gæ[eve¬˜¸¢Š¸÷¸ ˆÅ£ ½¡¸÷¸¸„÷œ¸¢î¸ ‚¸¾£ ‚¬˜¸¸ƒÄ ‚¿÷¸£¸Ê ˆÅ¸ œÏ÷¡¸¸¨¸÷¸Ä›¸ 57,670 (26,750)ˆºÅ¥¸ ˆÅ£ ¨¡¸¡¸ 250,634 190,079‹¸ ‚›¡¸ ¨¡¸¸œ¸ˆÅ ‚¸¡¸ Ÿ¸Ê ¢Š¸›¸¸ Š¸¡¸¸ˆÅ£ ¨¡¸¡¸œÏš¸¸›¸ ˆÅ¸¡¸¸Ä¥¸¡¸ ˆ½Å œ¸º›¸Ÿ¸»Ä¥¡¸¸¿ˆÅ›¸ œ¸£ œ¸»Â]¸ú ‚¢ž¸¥¸¸ž¸ ˆÅ£ 52,277 -¨¸«¸Ä ˆ½Å ¸¾£¸›¸ ¨¸¸¬÷¸¢¨¸ˆÅ œÏž¸¸¢£÷¸ ˆÅ£ ‚¸¾£ ›¸¸ƒ]¸ú¢£¡¸¸ Ÿ¸ÊˆÅ£ œ¸»¨¸Ä ¥¸¸ž¸ œ¸£ ¥¸¸Š¸» ˆÅ¸£œ¸¸½£½’ ˆÅ£ ˆÅú Ÿ¸¸›¸ˆÅ £ ˆ½Å¤¸ú\¸ ‚¿÷¸£ ˆ½Å ˆÅ¸£µ¸ 694,473 514,86530% (2011À 30%) ˆÅú ‹¸£½¥¸» £ œ¸£ ›¸¸ƒ]¸ú¢£¡¸¸ˆÅ¸£œ¸¸½£½’ ˆÅ£ œ¸£ Ÿ¸¸›¸ˆÅ £ ˆ½Å ‚¸š¸¸£ œ¸£ ¬¸¿ž¸¸¢¨¸÷¸ ˆÅ£œÏž¸¸£ 208,342 154,460Š¸µ¸›¸¸ ˆ½Å ‚›¸º¬¸¸£ ‚¸¡¸ˆÅ£ 175,584 198,228‚¿÷¸£ (›¸ú\¸½ ½‰¸Ê) 32,758 (43,769)¬¸Ÿ¸¸¡¸¸½¢]¸÷¸ ¢›¸¨¸¥¸ œÏú¢Ÿ¸¡¸Ÿ¸¢›¸¨¸¥¸ ˆÅŸ¸ú©¸›¸ 520,237ûºÅ’ˆÅ£ ‚¸¡¸ 70,349‚›¡¸ ˆÅ£ ¡¸¸½Š¡¸ ‚¸¡¸ 994‹¸’¸‡¿¿ À 2012 Ÿ¸Ê ‚¸ ˆÅú Š¸ƒÄ ‡›¸‚¸ƒÄ’ú”ú‡ ¥¸½¨¸ú 281,600]¸¸½”õÊ À ¬¸¿÷¸º¥¸›¸ œÏž¸¸£ (4,199)‹¸’¸‡¿¿ À ¬¸¿÷¸º¥¸›¸ Ž»’ 150‹¸’¸‡¿¿ À ¢›¸¨¸½©¸ Ž»’ (24,603)‹¸’¸‡¿¿ À œ¸»Â]¸ú Ž»’ (5,133)(253,982)585,413‚¿÷¸£ 109,194‚¸¡¸ˆÅ£ 30% ˆÅú £ œ¸£ - ‚¿÷¸£ („œ¸¡¸ºÄÆ÷¸ ˆ½Å ‚›¸º¬¸¸£) 32,75820. ‚¸¬˜¸¢Š¸÷¸ ˆÅ£ ‚¸¦¬÷¸¡¸¸¿ ‚¸¾£ ½¡¸÷¸¸‡¿¿‚¬˜¸¸ƒÄ ‚¿÷¸£¸Ê ¬¸½ ¢›¸ˆÅ¥¸½ ‚¸¬˜¸¢Š¸÷¸ ˆÅ£¸Ê ‚¸¾£ ‚œÏ¡¸ºÆ÷¸ ˆÅ£ í¸¢›¸¡¸¸Ê ˆÅ¸ ¬¸¸£¸¿©¸ ›¸ú\¸½ ¢¡¸¸ Š¸¡¸¸ í¾ À01 ]¸›¸¨¸£ú20122012‡›¸'000‚¸¡¸ ¢¨¸¨¸£µ¸ Ÿ¸Ê¢Š¸›¸¸ Š¸¡¸¸‚¸½¬¸ú‚¸ƒÄ Ÿ¸Ê¢Š¸›¸¸ Š¸¡¸¸2011‡›¸'00031 ¢¬¸¿¤¸£2012‡›¸'000 ‡›¸'000 ‡›¸'000 ‡›¸'000‚¸¬˜¸¢Š¸÷¸ ˆÅ£ ½¡¸÷¸¸‡¿¿’ú”¤¥¡¸»”ú¨¸ú ˆ½Å …œ¸£ ‡›¸¤¸ú¨¸ú ˆÅ¸ ‚¸¢š¸Æ¡¸ 86,631,908 36,485,272 - 123,117,180¨¸¬¸»¥¸ ›¸ ¢ˆÅ‡ Š¸‡ ¢¨¸¢›¸Ÿ¸¡¸ ‚¢ž¸¥¸¸ž¸ 7,313,100 - - 7,313,100œ¸º›¸Ÿ¸»Ä¥¡¸¸¿ˆÅ›¸ ‚¢š¸©¸½«¸ - - 52,277,400 52,277,40093,945,008 36,485,272 52,277,400 182,707,680394¢ ›¡¸» ƒ¢›”¡¸¸ ‡©¡¸¸½£¿¬¸ ˆ¿Åœ¸›¸ú ¢¥¸¢Ÿ¸’½”THE NEW INDIA ASSURANCE CO. LTD.
Leadership and BeyonddDeferred tax liabilityOrigination and reversal of temporary differences 57,670 (26,750)Total tax expense 250,634 190,079Tax expense recognised in othercomprehensive incomeCapital Gains Tax on Revaluation of Head Office 52,277 -The reasons for the difference betweenthe actual tax charge for the year and thestandard rate of corporate tax in Nigeriaapplied to Profit before tax 694,473 514,865Expected tax charge based on the standardrate on Nigeria corporate tax at thedomestic rate of 30% (2011: 30%) 208,342 154,460Income tax as per computations 175,584 198,228Difference (see below) 32,758 (43,769)Adjusted Net PremiumNet Commission 520,237Sundry Income 70,349Other income taxable 994Less: NITDA levy paid in 2012 281,600Add balancing charge (4,199)Less: Balancing allowance 150Less: Investment allowance (24,603)Less: Capital allowances (5,133)(253,982)585,413Difference 109,194Income tax @ 30%- Difference (as above) 32,75820. Deferred tax assets and liabilitiesDeferred taxes arising from temporary differences and unused tax losses are summarised as follows:1 January20122012N'000Recognisedin IncomestatementRecognisedin OCI2011N'0003I December2012N'000 N'000 N'000 N'000Deferred tax liabilitiesExcess of NBV over TWDV 86,631,908 36,485,272 - 123,117,180Unrealised exchange gain 7,313,100 - - 7,313,100Revaluation surplus - - 52,277,400 52,277,40093,945,008 36,485,272 52,277,400 182,707,680ANNUAL REPORT395
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ANNUAL REPORT1
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Leadership and BeyondANNUAL REPORT3
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Leadership and BeyondLEADING LIGHTS
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Chairman's MessageLeadership and Be
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Leadership and BeyondF Commission (
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Leadership and BeyondB. FOREIGN OPE
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Leadership and BeyondREINSURANCEThe
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Leadership and BeyondIn recognition
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Leadership and Beyondextremely spec
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Leadership and BeyondINFORMATION TE
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Leadership and Beyond• Sports Act
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Leadership and Beyondtranslation fo
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Leadership and Beyondto guard again
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Leadership and BeyondPARTICULARS OF
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Leadership and BeyondBOARD OF DIREC
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Leadership and BeyondBalance Sheet
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Leadership and BeyondSchedules for
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Leadership and BeyondSchedules for
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Leadership and BeyondReceipts & Pay
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Leadership and BeyondSEGMENT REPORT
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Leadership and Beyondamount payable
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Leadership and Beyond18 As per IRDA
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Leadership and Beyondhas appropriat
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Leadership and Beyond16 C. Disclosu
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Leadership and Beyond21 Performance
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Leadership and Beyondiv)Net Retenti
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Leadership and Beyondvii)Combined R
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Leadership and Beyondx) Operating P
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Leadership and Beyond24 Interest, D
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Leadership and BeyondBALANCE SHEET
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Leadership and BeyondSTATEMENT OF I
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Page 357 and 358: Leadership and BeyondviiiImpairment
Page 359 and 360: Leadership and BeyondThe Company is
Page 361 and 362: Leadership and BeyondFor a portfoli
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Page 365 and 366: Leadership and Beyondmarket risk po
Page 367 and 368: Leadership and Beyondix)Sensitivity
Page 369 and 370: Leadership and Beyondxii)investment
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Page 373 and 374: Leadership and BeyondStatement of f
Page 375 and 376: Leadership and Beyond31 December 20
Page 379 and 380: Leadership and Beyond1 January 2011
Page 381 and 382: Leadership and Beyond(e) Financial
Page 387 and 388: Leadership and BeyondPlant &Machine
Page 393: Leadership and Beyond2012N'0002011N
Page 397 and 398: Leadership and Beyond1 January2012R
Page 399 and 400: Leadership and Beyond2012N'0002011N
Page 401 and 402: Leadership and BeyondFire GeneralAc
Page 403 and 404: Leadership and BeyondNOTES TO THE F
Page 405 and 406: Leadership and Beyond2012N'0002011N
Page 407 and 408: Leadership and Beyond38(a) Profit b
Page 409 and 410: Leadership and BeyondCategory Male
Page 411 and 412: Leadership and Beyond(c) The Compan
Page 413 and 414: Leadership and BeyondReconciliation
Page 415 and 416: Leadership and Beyond43. Analysis o
Page 417 and 418: Leadership and Beyond44. Contingenc
Page 419 and 420: Leadership and Beyondd) Reconciliat
Page 421 and 422: Leadership and Beyonde) Reconciliat
Page 423 and 424: Leadership and BeyondPreviousGAAPEf
Page 425 and 426: Leadership and BeyondPRESTIGE ASSUR
Page 427 and 428: Leadership and BeyondPRESTIGE ASSUR
Page 429 and 430: Leadership and BeyondTHE NEW INDIA
Page 431 and 432: Leadership and BeyondTHE NEW INDIA
Page 433: Leadership and BeyondC. SUBSIDIARY
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Financial Year 2012-13 (27 MB) - The New India Assurance Co. Ltd.

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