annual report 2009-10 - IRDA

ANNUAL REPORT 2009-10UNDERWRITING EXPERIENCE AND PROFITS OF PUBLIC SECTOR COMPANIESSTATEMENT 46(` Lakh)PARTICULARS NEW INDIA ORIENTAL NATIONAL UNITED TOTAL2009-10 2008-09 2009-10 2008-09 2009-10 2008-09 2009-10 2008-09 2009-10 2008-09NET PREMIUM 600263 550031 396253 323510 397765 365363 419016 351041 1813297 1589946INCURRED CLAIMS (Net) 513245 467187 326018 305719 324536 339367 332924 251505 1496723 136377985.50% 84.94% 82.28% 94.50% 81.59% 92.88% 79.45% 71.65% 82.54% 85.78%COMMISSION, EXPENSES 229743 201583 139202 111546 145019 116454 138994 123084 652958 552667OF MANAGEMENT 38.27% 36.65% 35.13% 34.48% 36.46% 31.87% 33.17% 35.06% 36.01% 34.76%INCREASE IN RESERVE FOR 29180 25101 37170 16830 16187 23127 35196 31131 117733 96189UNEXPIRED RISK 4.86% 4.56% 9.38% 5.20% 4.07% 6.33% 8.40% 8.87% 6.49% 6.05%UNDERWRITING PROFIT/LOSS (171905) (143840) (106138) (110586) (87976) (113585) (88099) (54679) (454118) (422690)-30.10% -27.40% -29.56% -36.06% -23.06% -33.19% -22.95% -17.09% -26.78% -28.30%GROSS INVESTMENT INCOME 214082 167686 116944 99562 134845 103962 168857 108767 634727 479978OTHER INCOME LESS OTHER OUTGO -6249 5876 (1983) 2182 (20010) (3731) 1526 (3797) (26715) 529PROFIT BEFORE TAX 35927 29723 8823 (8842) 26859 (13354) 82284 50291 153894 57818INCOME TAX DEDUCTEDAT SOURCE AND 4540 (7308) (13249) 3576 (4373) (1567) (11505) (2686) (24587) (7985)PROVISION FOR TAXNET PROFIT AFTER TAX 40467 22415 (4425) (5266) 22486 (14921) 70779 47605 129307 49833Note: Figures in brackets indicates negative values.151