annual report 2009-10 - IRDA

ANNUAL REPORT 2009-10LIFE INSURERS : POLICYHOLDERS ACCOUNTCont’d... STATEMENT 19(` Lakh)PARTICULARS FUTURE GENERALI IDBI FEDERAL AEGON RELIGARE CANARA HSBC DLF PRAMERICA STAR UNION DAI-ICHI INDIAFIRST# TOTAL2009-10 2008-09 2009-10 2008-09 2009-10 2008-09 2009-10 2008-09 2009-10 2008-09 2009-10 2008-09 2009-10 2009-10 2008-09Premiums earned – net(a) Premium 54151 15260 57112 31897 16565 3121 84245 29641 3844 337 53037 5019 20160 26545037 22178547(b) Reinsurance ceded (667) (463) (210) (43) (86) (13) (254) (27) (4) (0) (28) (0) (0) (50208) (42610)(c) Reinsurance accepted 352 (57)Income from Investments(a) Interest, Dividends & Rent – Gross 1325 120 2995 703 136 15 1873 197 44 4 721 1 33 7283744 6059594(b) Profit on sale/redemption of investments 1100 53 6256 862 864 13 4207 144 43 1 1056 1 55 2616044 851457(c) (Loss on sale/ redemption of investments) (131) (52) (1140) (2392) (191) (39) (258) (129) (19) (2) (183) (4) (463219) (1351762)(d) Transfer/Gain on revaluation/change in fair value 2890 80 3011 89 490 35 16645 (742) 186 3 413 6029502 (2373988)(e) Amortization of Premium/Discount on Investments 59 7 39 4 0 0 1771 4233(f) Appropriation/Expropriation Adjustment Account 127 29 230 9 2066 160Unrealised Gains/Loss 1476 31 1434747 (608780)Other Income 207 11 0 0 87 18 53865 56198Transfer from Shareholders’ Account 36837 26341 12299 11611 26114 21086 9794 4015 5095 370356 617443Unit Linked Recoveries (1566) (1193)TOTAL (A) 95712 41351 80508 42733 17846 3135 132800 50170 13896 4356 56166 5052 25769 43822493 25389242Commission 12945 2204 4419 1545 1236 219 20337 10565 429 8 3928 676 1456 1814631 1549598Operating Expenses related to Insurance Business 44146 27186 14850 11915 27882 16213 19235 14893 10571 4055 6635 2436 6822 2880694 2583190Provision for doubtful debts (103867) 27657Adjustment related to previous year (21) (1184)Bad debts written off 20 6Provision for Tax 132 69 60 141 34 2 369950 344515Provisions (other than taxation) 50455 93177(a) For diminution in the value of investments (Net) (14396) 6779(b) Others 12256 1909TOTAL (B) 57091 29522 19269 13529 29118 16492 39571 25599 11000 4097 10563 3113 8278 5009722 4605647Benefits Paid (Net) 1398 220 351 76 50 15 433 64 (25) 132 17 9557820 5837029Interim Bonuses Paid 100583 77350Change in valuation of liability in respect of life policies(a) Gross* 37223 11867 61166 29245 12633 2096 92818 24507 2921 259 48905 3911 17472 19478781 12869974(b) Amount ceded in Reinsurance (0) (258) (278) (117) (289) (41) (23) (28) (13185) 1907(c) Amount accepted in Reinsurance(d) Transfer to Linked Fund (Fund Reserve) 9410994 1930493TOTAL ( C ) 38621 11828 61239 29204 12394 2071 93229 24571 2896 259 49009 3911 17488 38534994 20716753SURPLUS/ (DEFICIT) (D) =(A)-(B)-(C) (23666) (15427) (3405) (1972) 2 277777 66842Prior Period ItemsBalance at the beginning of the year (42372) (10185)Transfer from Linked Fund (Lapsed Policies) 14870 281Surplus available for appropriations (23666) (15427) (3405) (1972) 2 250275 56939APPROPRIATIONSTransfer to Shareholders’ Account (3405) (1972) 227754 81539Funds for future appropriations (Reserve for lapsedunit linked policies unlikely to be revived) 2 5331 12759Balance being funds for future appropriations-Policyholders 121 5 126607 58254Balance being funds for future appropriations-Previous year 80224 55834Balance transferred to Balance Sheet (23787) (15432) (189641) (151447)TOTAL (D) (23666) (15427) (3405) (1972) 2 250275 56939Note : * Represents mathematical reserves after allocation of bonusFigures in brackets represents negative values# Commenced operations in 2009-10118