30 june 2011 - hdfc gi · financial disclosures 30 june 2011 insurance is the subject matter of...

Financial Disclosures 30 June 2011

Insurance is the subject matter of solicitation. IRDA Reg. No. 146

Corporate Office: 601-602, Trade Centre, Bandra Kurla Complex, Bandra (East), Mumbai - 400051.

L&T General Insurance Co. Ltd.

Registration No. 146

Date of Registration with IRDA - 9th July 2010 (Rs. '000)

Particulars Schedule Fire Marine Misc. Total

Premiums earned (Net) NL4 95 4,839 41,869 46,803 -

Profit/ (Loss) on sale/redemption of Investments (14) (2) (80) (96) -

Others (Miscellaneous income) - - - - -

Interest Income 273 47 1,591 1,911 -

TOTAL (A) 354 4,884 43,380 48,618 -

Claims Incurred (Net) NL5 754 7,733 43,814 52,300 -

Commission NL6 (6,623) 861 (1,818) (7,579) -

Operating Expenses related to Insurance

Business

NL7 38,528 12,999 1,68,699 2,20,226 -

Premium Deficiency 4,629 2,180 16,859 23,668 -

TOTAL (B) 37,288 23,773 2,27,554 2,88,615 -

Operating Profit/(Loss) (A - B) (36,934) (18,889) (1,84,174) (2,39,997) -

APPROPRIATIONS

Transfer to Shareholders’ Account (36,934) (18,889) (1,84,174) (2,39,997) -

Transfer to Catastrophe Reserve - - - - -

Transfer to Other Reserves (to be specified) - - - - -

TOTAL (C) (36,934) (18,889) (1,84,174) (2,39,997) -

For the quarter ended June 30, 2011For the

quarter

ended June

30, 2010

FORM NL-1-B-RA

The Company commenced its commercial operations as a General Insurance Company on October 1, 2010 . Hence no figures applicable for previous year.

REVENUE ACCOUNT



Date of Registration with IRDA - 9th July 2010 (Rs. '000)

ParticularsFor the quarter

ended June 30, 2011

For the quarter

ended June 30, 2010

OPERATING PROFIT/(LOSS)

(a) Fire Insurance (36,934) -

(b) Marine Insurance (18,889) -

(c) Miscellaneous Insurance (1,84,174) -

(2,39,997) -

INCOME FROM INVESTMENTS

(a) Interest, Dividend & Rent – Gross 12,206

(b) Profit on sale of investments 718 -

Less: Loss on sale of investments (1,324) -

OTHER INCOME 7

TOTAL (A) (2,28,390) -

PROVISIONS (Other than taxation)

(a) For diminution in the value of investments - -

(b) For doubtful debts - -

(c) Others (to be specified) - -

OTHER EXPENSES

(a) Expenses other than those related

to Insurance Business

- 2,36,690

(b) Bad debts written off - -

(c) Directors fees 80 -

TOTAL (B) 80 2,36,690

Profit/ (Loss) Before Tax (2,28,470) (2,36,690)

Provision for Taxation - -

APPROPRIATIONS

(a) Interim dividends paid during the year - -

(b) Proposed final dividend - -

(c) Dividend distribution tax - -

(d) Transfer to any Reserves or Other Accounts - -

Balance of profit/ (loss) brought forward from last year (6,74,069) (80,865)

Balance carried forward to Balance Sheet (9,02,540) (3,17,555)

PROFIT AND LOSS ACCOUNT

FORM NL-2-B-PL



Date of Registration with IRDA - 9th July 2010 (000's)

Particulars ScheduleAs at June 30,

2011

As at June 30,

2010

SOURCES OF FUNDS :

Share Capital NL 8 20,00,000 17,51,400

Reserves and Surplus NL 10 - -

Fair Value Change Account 541 -

Borrowings NL 11 -

TOTAL 20,00,541 17,51,400

APPLICATION OF FUNDS :

Investments NL 12 7,10,158 5,28,650

Loans NL 13 - -

Fixed Assets (Net) including Capital work in progress NL 14 7,47,087 2,16,206

Current Assets:

Cash and Bank Balances NL 15 21,039 6,81,347

Advances and Other Assets NL 16 1,69,937 52,064

Sub Total [A] 1,90,976 7,33,411

Current Liabilities NL 17 3,37,116 41,633

Provisions NL 18 2,13,104 2,789

Sub Total [B] 5,50,219 44,421

Net Current Assets [C] = [ A - B] (3,59,243) 6,88,989

Miscellaneous Expenditure (to the extent not written off or

adjusted)NL 19 -

Debit balance in Profit and Loss Account 9,02,540 3,17,555

TOTAL 20,00,541 17,51,400

BALANCE SHEET

FORM NL-3-B-BS

Balance Sheet as at June 30, 2011



Date of Registration with IRDA - 9th July 2010

(Rs. '000)

Particulars

Fire Marine Miscellaneous Total

Premium from direct business written 47,804 16,129 2,09,311 2,73,244

Add: Premium on reinsurance accepted 262 - - 262

Less : Premium on reinsurance ceded (40,421) (6,675) (85,817) (1,32,913)

Net Premium 7,645 9,454 1,23,494 1,40,593

Adjustment for change in reserve for unexpired risks (7,550) (4,615) (81,625) (93,790)

Premium Earned (Net) 95 4,839 41,869 46,803

Particulars


Premium from direct business written - - - -

Add: Premium on reinsurance accepted - - - -

Less : Premium on reinsurance ceded - - - -

- - - -

Net Premium - - - -

Adjustment for change in reserve for unexpired risks

Premium Earned (Net)

All premium written, less reinsurance, is from business in India.

PREMIUM EARNED (NET)

For the quarter ended June 30, 2011


FORM NL-4-PREMIUM SCHEDULE




Particulars


Claims paid Direct 350 785 8,187 9,322

Add: Re-insurance accepted to direct claims - -

Less: Re-insurance Ceded to claims paid (311) (316) (853) (1,480)

Net Claims Paid 39 469 7,334 7,842

Add: Claims Outstanding at the end of the year 2,069 7,897 56,920 66,885

Less: Claims Outstanding at the beginning of the year 1,354 633 20,440 22,427

Total Claims Incurred 754 7,733 43,814 52,300

Particulars


Claims paid Direct - - - -

Add: Re-insurance accepted to direct claims - - - -

Less: Re-insurance Ceded to claims paid - - - -

Net Claims Paid - - - -

Add: Claims Outstanding at the end of the year - - - -

Less: Claims Outstanding at the beginning of the year - - - -

Total Claims Incurred - - - -

(Rs. '000)

CLAIMS INCURRED [NET]



FORM NL-5-CLAIMS SCHEDULE




Particulars


Commission paid:

Direct 1,643 2,103 5,093 8,839

Add: Re-insurance Accepted - -

Less: Commission on Re-insurance Ceded (8,266) (1,242) (6,911) (16,418)

Net Commission (6,623) 861 (1,818) (7,579)

Break-up of the expenses (Gross) incurred to procure business to be

Agents 302 453 2,095 2,850

Brokers 1,341 1,650 2,998 5,989

Corporate Agency - -

Referral - -

Others - - TOTAL 1,643 2,103 5,093 8,839

Particulars


Commission paid: - - - -

Direct - - - -

Add: Re-insurance Accepted - - - -

Less: Commission on Re-insurance Ceded - - - -

Net Commission - - - -

Break-up of the expenses (Gross) incurred to procure business to be

Agents

Brokers

Corporate Agency

Referral

Others TOTAL

(Rs. '000)


COMMISSION


FORM NL-6-COMMISSION SCHEDULE




Particulars

Fire Marine Misc. Total

1 Employees’ remuneration & welfare benefits 11,252 3,796 49,265 64,313

2 Travel, conveyance and vehicle running expenses 900 304 3,941 5,145

3 Training expenses 111 37 484 632

4 Rents, rates & taxes 4,961 1,674 21,722 28,357

5 General Repairs and Office Management 929 313 4,069 5,311

6 Printing & stationery 310 105 1,359 1,774

7 Communication 484 163 2,120 2,767

8 Legal & professional charges 4,818 1,626 21,097 27,541

9 Auditors' fees, expenses etc.

(a) as auditor 35 12 153 200

(b) as adviser or in any other capacity, in respect of - - - -

(i) Taxation matters - - - -

(ii) Insurance matters - - - -

(iii) Management services; and - - - -

c) in any other capacity 17 6 77 100

10 Advertisement and publicity 939 317 4,109 5,365

11 Interest & Bank Charges 45 15 196 256

12 IT Operating Expenses 5,880 1,984 25,748 33,612

13 Membership fees 995 336 4,359 5,690

14 Insurance 239 81 1,045 1,365

15 Depreciation 6,285 2,119 27,519 35,923

16 Others 328 111 1,436 1,875

TOTAL 38,528 12,999 1,68,699 2,20,226

Note: The Company commenced its commercial operations as a General Insurance Company on October 1, 2010

and accordingly, there were no operating expenses related to insurance business in the previous period.

FORM NL-7-OPERATING EXPENSES SCHEDULE


OPERATING EXPENSES RELATED TO INSURANCE BUSINESS




Particulars As at June 30, 2011 As at June 30, 2010

(Rs. '000) (Rs. '000)

1 Authorised Capital

Equity Shares of Rs10/- each 40,00,000 20,00,000

2 Issued, Subscribed and Paid up Capital

Equity Shares of Rs.10/-each 20,00,000 2,90,000 CAPITAL

3 Called-up Capital

Equity Shares of Rs10/-each - 14,61,400

Less : Calls unpaid - -

Add : Equity Shares forfeited (Amount originally paid up) - -

Less : Par Value of Equity Shares bought back - -

Less : Preliminary Expenses - -

Expenses including commission or brokerage on - -

Underwriting or subscription of shares - -

TOTAL 20,00,000 17,51,400

Shareholder No of Shares % of holding No of Shares % of holdingPromoters

Indian 20,00,00,000 100% 2,90,00,000 100%

Foreign - - - -

Total 20,00,00,000 100% 2,90,00,000 100%

FORM NL-8-SHARE CAPITAL SCHEDULE

FORM-NL-9 PATTERN OF SHAREHOLDING

Pattern of Shareholding

(As certified by the Management)

As at June 30, 2010

SHARE CAPITAL

As at June 30, 2011





(Rs. '000) (Rs. '000)1 Capital Reserve - -

2 Capital Redemption Reserve - -

3 Share Premium - -

General Reserves -

Less: Debit balance in Profit and Loss Account - -

Less: Amount utilized for Buy-back - -

5 Catastrophe Reserve - -

6 Other Reserves - -

7 Balance of Profit in Profit & Loss Account - -

TOTAL - -

RESERVE AND SURPLUS

4

FORM NL-10-RESERVE AND SURPLUS SCHEDULE





(Rs. '000) (Rs. '000)

1 Debentures/ Bonds - -

2 Banks - -

3 Financial Institutions - -

4 Others - -

TOTAL - -

BORROWINGS

FORM NL-11-BORROWINGS SCHEDULE





(Rs. '000) (Rs. '000)LONG TERM INVESTMENTS

1 Government securities and Government guaranteed bonds

including Treasury Bills

4,04,947 5,28,650

2 Other Approved Securities 1,02,385 -

3 Other Investments -

( a) Shares - -

(aa) Equity - -

(bb) Preference - -

(b) Mutual Funds - -

(c) Derivative Instruments - -

(d) Debentures/ Bonds - -

(e) Other Securities (to be specified) - -

(f) Subsidiaries - -

(g) Investment Properties-Real Estate - -

4 Investments in Infrastructure and Social Sector 1,40,819 -

5 Other than Approved Investments -

SHORT TERM INVESTMENTS

1 Government securities and Government guaranteed bonds

including Treasury Bills - -

2 Other Approved Securities - -

3 Other Investments - -

(a) Shares - -

(aa) Equity - -

(bb) Preference - -

(b) Mutual Funds 62,007 -

(c) Derivative Instruments - -

(d) Debentures/ Bonds - -

(e) Other Securities (to be specified) - -

(f) Subsidiaries - -

(g) Investment Properties-Real Estate - -

4 Investments in Infrastructure and Social Sector - -

5 Other than Approved Investments - -

TOTAL 7,10,158 5,28,650

Note:-Rs 20,165 ('000) of Deposit with RBI[Pursuant to section 7 of

Insurance Act, 1938] has been excluded from the above

schedule and shown separately in Schedule 12 under

"Advances and other Assets".

All Investments are made in India

INVESTMENTS

FORM NL-12-INVESTMENTS SCHEDULE




Particulars As at June 30,

2011As at June 30, 2010

(Rs. '000) (Rs. '000)1 SECURITY-WISE CLASSIFICATION

Secured - -

(a) On mortgage of property - -

(aa) In India - -

(bb) Outside India - -

(b) On Shares, Bonds, Govt. Securities - -

(c) Others (to be specified) - -

Unsecured - -

TOTAL - -

2 BORROWER-WISE CLASSIFICATION

(a) Central and State Governments - -

(b) Banks and Financial Institutions - -

(c) Subsidiaries - -

(d) Industrial Undertakings - -

(e)Others (to be specified) - -

TOTAL - -

3 PERFORMANCE-WISE CLASSIFICATION

(a) Loans classified as standard - -

(aa) In India - -


(b) Non-performing loans less provisions - -

(aa) In India - -


TOTAL - -

4 MATURITY-WISE CLASSIFICATION

(a) Short Term - -

(b) Long Term - -

TOTAL - -

LOANS

FORM NL-13-LOANS SCHEDULE

(Rs. '000)

Particulars

On Sales/

Adjustments

Goodwill - - - - - - - - - -

Intangibles - softwares 5,74,843 64,714 - 6,39,557 35,103 25,130 - 60,233 5,79,324 -

Land-Freehold - - - - - - - - - -

Leasehold Property - - - - - - - - - -

Buildings - - - - - - - - - -

Furniture & Fittings 44,868 3,325 - 48,193 12,822 3,586 - 16,409 31,784 -

Information Technology Equipment 1,40,908 569 - 1,41,477 10,144 6,817 - 16,962 1,24,515 19,187

Vehicles - - - - - - - - - -

Office Equipment 6,787 439 - 7,226 2,093 391 - 2,483 4,743 3,892

Others - - - - - - - - - -

TOTAL 7,67,407 69,046 - 8,36,453 60,162 35,924 - 96,086 7,40,366 23,078

Capital Work in progress 6,721 1,93,128

Grand Total 7,67,407 69,046 - 8,36,453 60,162 35,924 - 96,086 7,47,087 2,16,206

PREVIOUS YEAR

As at 30.06.2010

NL-14-FIXED ASSETS

Cost/ Gross Block Depreciation Net Block

As at 01.04.2011 Additions DeductionsAs at

30.06.2011Upto 31.03.2011 For The period

Upto

30.06.2011As at 30.06.2011




ParticularsAs at June 30,

2011

As at June 30,

2010

(Rs. '000) (Rs. '000)

1 Cash (including cheques, drafts and stamps) 2,024 16

2 Bank Balances

(a) Deposit Accounts

(aa) Short-term (due within 12 months) - 4,49,800

(bb) Others -

(b) Current Accounts 19,015 2,31,531

(c) Others - -

3 Money at Call and Short Notice

(a) With Banks - -

(b) With other Institutions - -

4 Others

TOTAL 21,039 6,81,347

Balances with non-scheduled banks included in 2 and 3 above - -

CASH AND BANK BALANCES

FORM NL-15-CASH AND BANK SCHEDULE





(Rs. '000) (Rs. '000)

ADVANCES

1 Reserve deposits with ceding companies - -

2 Application money for investments - -

3 Prepayments 161 -

4 Advances to Directors/Officers - -

5 Advance tax paid and taxes deducted at source 561 52

6 Rental Deposits 56,896 21,554

7 Advances- Others 4,887

8 Unutilised service tax- Carried forward 5,830 30,458

TOTAL (A) 68,335 52,064

OTHER ASSETS

1 Income accrued on investments 21,671 -

2 Outstanding Premiums - -

3 Agents’ Balances - -

4 Foreign Agencies Balances - -

5Due from other entities carrying on insurance business including

reinsurers 53,496 -

6 Due from subsidiaries/ holding - -

7Deposit with Reserve Bank of India [Pursuant to section 7 of

Insurance Act, 1938] 20,165 -

8 Others- Other accrued income - -

8a Others including Sundry Debtors and advances to Vendors 1,702 -

8b Others 4,568 -

TOTAL (B) 1,01,602 -

TOTAL (A+B) 1,69,937 52,064

ADVANCES AND OTHER ASSETS

FORM NL-16-ADVANCES AND OTHER ASSETS





(Rs. '000) (Rs. '000)

1 Agents’ Balances 1,744 -

2 Balances due to other insurance companies 1,24,298 -

3 Deposits held on re-insurance ceded - -

4 Premiums received in advance 3,601 -

5 Unallocated Premium 9,447 -

6 Sundry creditors 1,30,825 22,618

7 Due to subsidiaries/ holding company 19,015

8 Claims Outstanding 66,885 -

9 Due to Officers/ Directors - -

10 Others:-

Solatium fund 316 -

TOTAL 3,37,116 41,633

CURRENT LIABILITIES

FORM NL-17-CURRENT LIABILITIES





2011As at June 30, 2010

1 Reserve for Unexpired Risk 1,81,543 -

2For taxation (less advance tax paid and taxes deducted at

source) - -

3 For proposed dividends - -

4 For dividend distribution tax - -

5 Others :

a) Leave Encashment 2,325

b) Gratuity 4,441 2,789

6 Reserve for Premium Deficiency 24,794

TOTAL 2,13,104 2,789

PROVISIONS

FORM NL-18-PROVISIONS





2011As at June 30, 2010

Miscellaneous Expenditure ( to the extent not written off or

adjusted) - -

TOTAL - -

FORM NL-19-MISCELLANEOUS EXPENDITURE

MISCELLANEOUS EXPENDITURE

Insurer: L&T General Insurance Co. Ltd.

As at June 30, 2011

(Rs. in Lakhs)

Item No Description

Reserves for

unexpired

risks

Reserve for

Outstanding

Claims

IBNR

Reserves

Premium

deficiency

reserve

Total Reserves

1 Fire 115.73 17.95 2.74 46.29 182.71

2 Marine - - - - -

a Marine Cargo 62.28 60.01 18.96 21.80 163.05

b Marine Hull - - - - -

3 Miscellaneous

a Motor 1,273.83 279.35 98.80 - 1,651.97

b Engineering 93.22 32.94 5.00 116.52 247.68

c Aviation - - - - -

d Liabilities 55.18 18.04 2.22 - 75.43

e Others 26.69 0.38 16.62 6.78 50.46

4 Health Insurance 188.50 2.86 113.00 56.55 360.91

5 Total Liabilities 1,815.43 411.52 257.33 247.94 2,732.22

PERIODIC DISCLOSURES

FORM NL-21 Statement of Liabilities

*The Company commenced its commercial operations as a General Insurance Company on October 1, 2010 . Hence no figures are

shown for the previous year.

(Rs in Lakhs)

STATES Fire Marine (Cargo) Marine (Hull) EngineeringMotor Own

DamageMotor Third Party Liability insurance Personal Accident Medical Insurance

Overseas medical

InsuranceCrop Insurance

All Other

MiscellaneousGrand Total

Andhra Pradesh 44.66 21.39 22.51 62.64 29.54 2.47 150.51 221.58 2.17 557.48

Arunachal Pradesh - - - - - - - - -

Assam - 0.02 - 4.15 2.24 - - - - 6.41

Bihar - 0.04 0.29 21.95 9.57 - - - - 31.86

Chandigarh - 0.08 0.52 0.42 0.13 0.08 - - - 1.24

Chattisgarh - 0.37 2.45 10.89 3.19 - - - - 16.90

Dadra & nagar haveli - - - 0.14 0.13 - - - 0.27

Daman & Diu - - - 0.16 0.02 - - - - 0.17

Delhi 8.31 2.89 12.97 47.47 25.15 18.03 - 4.70 1.21 120.73

Goa - - - - - - - - - -

Gujarat 25.94 3.53 5.55 84.73 48.58 20.24 - - 0.30 188.86

Haryana 1.93 0.46 4.15 70.27 36.92 1.18 - - 0.73 115.64

Himachal Pradesh 0.24 0.15 0.83 6.65 4.90 - - - 0.07 12.84

Jammu & Kashmir - 0.03 - - - - - - - 0.03

Jharkhand 2.09 0.23 1.35 28.36 12.54 0.03 - - 0.11 44.71

Karnataka 21.75 1.42 5.41 24.89 14.51 4.45 0.23 - 1.45 74.11

Kerala - 0.08 0.33 1.13 0.74 - - - - 2.27

Lakshadweep - - - - - - - - -

Madhya Pradesh 13.30 0.16 2.97 85.61 25.99 - - - 3.78 131.81

Maharashtra 232.54 90.90 20.69 114.30 64.35 18.42 0.77 32.38 3.83 578.19

Manipur - - - - - - - - -

Meghalaya - - - 0.11 0.01 - - - 0.12

Mizoram - - - 0.16 0.01 - - - - 0.18

Nagaland - - - 0.16 0.01 - - - - 0.17

Orissa 36.29 0.60 4.22 56.46 28.75 0.70 - - 0.11 127.13

Pondicherry 0.93 2.10 - 0.20 0.03 - - - - 3.26

Punjab 0.14 0.08 2.42 24.79 7.56 - - - 0.01 34.99

Rajasthan - 0.38 2.83 64.60 27.18 - - - - 94.99

Sikkim - - - 0.97 0.55 - - - - 1.52

Tamil Nadu 65.27 32.20 35.49 109.44 48.68 9.67 0.75 5.70 53.43 360.65

Tripura - - - 0.73 0.07 - - - - 0.80

Uttar Pradesh 1.56 3.44 4.40 26.37 16.96 1.10 - - 0.18 54.02

Uttarkhand 4.85 0.18 0.86 0.61 0.34 - - - 0.07 6.92

West Bengal 18.23 0.55 4.29 94.67 44.13 1.82 - - 0.50 164.19

Total 478.04 161.29 - 134.54 943.02 452.79 78.20 152.26 264.36 - - 67.96 2,732.44


FORM NL-22 Geographical Distribution of Business

GROSS DIRECT PREMIUM UNDERWRITTEN FOR THE QUARTER ENDED JUNE 30,2011

L & T General Insurance Co Ltd.

(Rs in Lakhs)

S.No. Reinsurance Placements

ProportionalNon-

ProportionalFacultative

1 No. of Reinsurers with rating of AAA and above 1 11 8 - 7

2 No. of Reinsurers with rating AA but less than AAA - - - - -

3 No. of Reinsurers with rating A but less than AA 5 19 11 5 12

4 No. of Reinsurers with rating BBB but less than A 12 121 64 52 81

5 No. of Reinsurres with rating less than BBB - - - -

No. of Indian insures - - - - -

6 Total 18 151 83 57 100


FORM NL-23 Reinsurance Risk Concentration

Insurer: L & T General Insurance Co. Ltd. Dated 30th June 2011

No. of reinsurers

Premium ceded to reinsurersPremium ceded to

reinsurers / Total

reinsurance premium ceded

(%)

Reinsurance Risk Concentration

(Rs in Lakhs)

Line of BusinessTotal No. of claims

paid

Total amount of

claims paid

1 month 1 - 3 months 3 - 6 months 6 months - 1 year > 1 year

1 Fire 4 8 1 13 3.5

2 Marine Cargo 6 20 26 7.86

3 Marine Hull

4 Engineering 3 3 8.18

5 Motor OD 185 55 6 246 71.24

6 Motor TP -

7 Health 150 32 182 1.92

8 Overseas Travel

9 Personal Accident

10 Liability 18 27 45 0.53

11 Crop

12 Miscellaneous

AGEING OF CLAIMS

Sl.No.No. of claims paid

PERIODIC DISCLOSURESFORM NL-24 Ageing of Claims

Insurer: L & T General Insurance Co. Ltd.Date 30th June 2011

No. of claims only

Sl. No. Claims Experience FireMarine

CargoMarine Hull Engineering Motor OD Motor TP Health

Overseas

Travel

Personal

AccidentLiability Crop Credit

Miscellaneo

usTotal

1 Claims O/S at the beginning of the period 8 3 4 62 1 0 2 0 80

2 Claims reported during the period 38 328 27 422 5 186 56 2 1064

3 Claims Settled during the period 15 26 4 246 0 182 45 518

4 Claims Repudiated during the period 5 1 11 0 0 17

5 Claims closed during the period 25 0 0 25

6 Claims O/S at End of the period 31 300 26 202 6 4 13 2 584

Less than 3months 30 299 0 24 195 5 4 0 0 11 0 0 2 570

3 months to 6 months 1 1 0 2 7 1 0 0 0 2 0 0 0 14

6months to 1 year 0 0 0 0 0 0 0 0 0 0 0 0 0 0

1year and above 0 0 0 0 0 0 0 0 0 0 0 0 0 0

PERIODIC DISCLOSURESFORM NL-25 Annual data for claims - Non Life

Insurer: L & T General Insurance Co. Ltd.

1 Fire 724.11 133.58 44.23 6.31 72.41 6.63 72.41

2 Marine (Marine Cargo) 203.85 117.06 110.75 93.69 28.54 28.11 28.11

3 Marine Hull - - - - - - -

4 Motor 2,490.59 1,711.40 447.57 372.31 423.40 114.13 423.40

5 Engineering 308.16 229.00 69.92 30.46 45.80 10.49 45.80

6 Aviation - - - - - - -

7 Liabilities 159.94 107.31 23.97 11.32 27.19 6.11 27.19

8 Others 245.51 33.09 1.32 12.81 34.37 3.84 34.37

9 Group Health 324.10 291.69 5.77 100.51 58.34 30.15 58.34

Total 4,456.27 2,623.13 703.53 627.41 689.62

RSM

FORM NL-26 - CLAIMS INFORMATION - KG Table I

Insurer: L & T General Insurance Co Ltd.

Required Solvency margin based on net premium and Net Incurred Claims (Rs. in Lakhs)

Item

No.Description

PREMIUM CLAIMS

Gross Premium Net PremiumGross incurred

claim

Net incurred

ClaimRSM-1 RSM-2

Sl. No.

1

2

3 Out of approvals of previous year

4 Out of approvals of this year

5

6

7

8

9 No. of urban branches 10

No. of branches at the end of the year 10

No. of branches approved but not opened 0

No. of rural branches 0

PERIODIC DISCLOSURESFORM NL-27: Offices information for Non-Life

OFFICE INFORMATION Number

No. of offices at the beginning of the year 10


Office Information as on June 30,2011

0

No. of branches opened during the year10

0

No. of branches closed during the year 0

No. of branches approved during the year

Company Name & Code: L&T General Insurance Co. Ltd.

Statement as on: June 30, 2011

Statement of Investment Assets (General Insurer, Re-insurers)

(Business within India)

Periodicity of Submission: Annual

Rs. In Lakhs

No PARTICULARS SCH AMOUNT

1 Investments* NL 12 7,303.17 -

2 Loans NL 13

3 Fixed Assets NL 14 7,470.88

4 Current Assets

a. Cash & Bank Balance NL 15 210.39

b. Advances & Other Assets NL 16 1,699.37

5 Current Liabilities

a. Current Liabilities NL 17 (3,340.61)

b. Provisions NL 18 (2,127.52)

c. Misc. Exp not Written Off NL 19

d. Debit Balance of P&L A/c 8,991.32

Application of Funds as per Balance Sheet (A) 20,207.00

Less: Other Assets SCH Amount

1 Loans (if any) NL 13 -

2 Fixed Assets (if any) NL 14 7,470.88

3 Cash & Bank Balance (if any) NL 15 210.39

4 Advances & Other Assets (if any) NL 16 1,699.37

5 Current Liabilities NL 17 (3,340.61)

6 Provisions NL 18 (2,127.52)

7 Misc. Exp not Written Off -

8 Debit Balance of P&L A/c 8,991.32

TOTAL (B) 12,903.83

'Investment Assets' As per FORM 3B (A-B) 7,303.17 87.34%

Balance FRSM

(a) (b) ( c ) D=b+c (e) (d+e)

1 Central Government Securities Not less than 20% - 2,682.13 1,569.00 4,251.13 58.25% - 4,251.13 4,106.45

2

Government Securities or Other Guaranteed

Securities (including the 1 above) Not less than 30% - 2,682.13 1,569.00 4,251.13 58.25% - 4,251.13 4,106.45

3

Housing and Loans to SG for Housing and Fire

Fighting Equipments Not less than 5% - 372.61 218.00 590.61 8.09% - 590.61 568.12

4 ` - - - - - - -

Infra Structure and Social Sector - - - - - - -

(i) Infra Structure - 515.58 302.00 817.58 11.20% - 817.58 791.56

(ii) Social Sector - - - - - - -

- - - - - - -

(i) Others governed by Exposure Norms - 645.85 378.00 1,023.85 14.03% 1,023.85 1,010.12 (ii) Out of above 55% Amount Invested in

Other investment shall not exceed 25% - 388.65 226.00 614.65 8.42% 5.42 620.07 620.07

TOTAL INVESTMENT ASSETS 100% - 4,604.82 2,693.00 7,297.82 100.00% 5.42 7,303.24 7,096.32

*201.65Lacs of of Deposit with RBI[Pursuant to section 7 of Insurance Act, 1938] has been included above

FORM NL-28-STATEMENT OF ASSETS - 3B

No. TotalMARKET

VALUE

a. Not less than 10%

b. Not exceeding 55%

PH % ACTUALFVC

AmountInvestment Represented as %

SH TOTAL

(SH+PH)


(Rs in Lakhs)

As at 30th

June 2011

As % of total

for this class

As at 30th

June 2010

As % of

total for this

class

As at 30th

June 2011

As % of

total for this

class

As at 30th

June 2010

As % of total

for this class

Break down by credit rating

AAA rated 2,086.87 33.21% NA NA 2,145.70 33.11% NA NA

AA or better 90.07 1.43% NA NA 92.99 1.43% NA NA

Rated below AA but above A 193.14 3.07% NA NA 193.20 2.98% NA NA

Rated below A but above B - - NA NA - - NA NA

Any other 3,913.17 62.28% NA NA 4,049.47 62.48% NA NA

Breakdown by Residual Maturity -

Up to 1 year 99.28 1.58% NA NA 99.97 1.54% NA NA

more than 1 yearand upto 3years 691.02 11.00% NA NA 695.15 10.73% NA NA

More than 3years and up to 7years 90.09 1.43% NA NA 92.99 1.43% NA NA

More than 7 years and up to 10 years 2,942.85 46.83% NA NA 3,064.30 47.28% NA NA

above 10 years 2,460.01 39.15% NA NA 2,528.96 39.02% NA NA

Breakdown by type of the issuer -

a. Central Government 3,913.17 62.28% NA NA 4,049.47 62.48% NA NA

b. State Government - - NA NA - - NA NA

c. Corporate Securities 2,370.08 37.71% NA NA 2,431.89 37.52% NA NA

PERIODIC DISCLOSURESFORM NL-29 Detail regarding Debt Securities

Date : As on 30th June 2011

Detail Regarding debt securitiesMarket Value Book Value

Sl.No. ParticularFor the quarter ended

30th June 2011

1 Gross Premium Growth Rate NA

2 Gross Premium to shareholders' fund ratio 25%

3 Growth rate of shareholders'fund -23%

4 Net Retention Ratio 51%

5 Gross Commission Ratio 3%

6 Expense of Management to Gross Direct Premium Ratio 84%

7 Combined Ratio 87%

8 Technical Reserves to net premium ratio 194%

9 Underwriting balance ratio -172%

10 Operating Profit Ratio -162%

11 Liquid Assets to liabilities ratio 30%

12 Net earning ratio -163%

13 Return on net worth ratio -21%

14 Available Solvency Margin Ratio to Required Solvency Margin Ratio 1.55

15 NPA Ratio

Gross NPA Ratio NA

Net NPA Ratio NA

1 (a) No. of shares

2 (b) Percentage of shareholding (Indian / Foreign)

Indian 100%

Foreign 0%

3 ( c) %of Government holding (in case of public sector insurance companies) NA

4 (a) Basic and diluted EPS before extraordinary items (net of tax expense) for the period

(not annualized) (1.14)

5 (b) Basic and diluted EPS after extraordinary items (net of tax expense) for the period

(not annualized) (1.14)

6 (iv) Book value per share (Rs) 5.49


FORM NL-30 Analytical Ratios

Insurer: L & T General Insurance Co Ltd

Analytical Ratios for Non-Life companies

Equity Holding Pattern for Non-Life Insurers

*The Company commenced its commercial operations as a General Insurance Company

on October 1, 2010 . Hence no figures are shown for the previous year.

Insurer:L&T General Insurance Co. Ltd. Date : As on 30th June 2011

in lakhs

Consideration

paid / received

Quarter ended

30th June 2011

1 Larsen & Toubro Limited Holding Company Premium Income 590.68

Claims Paid 0.67

Issue of Share Capital 0

Purchase of services -

Reimbusement of expenses 3.29

2 L&T Finance Limited Fellow Subsidiary Premium Income 0.18

Share Application Money -

Inter Corporate Deposits -Interest on Inter-Corporate

Deposits -

Claims paid 2.05

Reimbusement of expenses -

3 L&T Infotech Limited Fellow Subsidiary Purchase of services -

Purchase of services-software 27.94

Expenses recovery 2.29

4 L&T Devihalli Hassan Tollway Private Ltd Fellow Subsidiary Premium Income 0.00

5 L&T Krishnagiri Thopur Tollroad Limited Fellow Subsidiary Premium Income 0.47

Claims Paid 2.68

6 L&T Krishnagiri Walahjpet Tollway Fellow Subsidiary Premium Income 0.18

7 L&T-MHI Boilers Limited Fellow Subsidiary Premium Income -

8 L & T Valdel Engineering Limited Fellow Subsidiary Premium Income 4.45

9 L & T Urban Infrastructure Limited Fellow Subsidiary Premium Income -

10 L&T Infrastructure Development Pvt Ltd Fellow Subsidiary Premium Income 6.67

11 L&T Arun Excello IT SEZ Pvt Ltd Fellow Subsidiary Premium Income 0.57

12 L&T Demag Plastics Machinery Ltd Fellow Subsidiary Premium Income 0.39

13 L&T Plastics Machinery Ltd Fellow Subsidiary Premium Income 2.83

14 L&T Howden Private Limited Fellow Subsidiary Premium Income 2.91

15 L&T South City Projects Limited Fellow Subsidiary Premium Income 0.09

16 L&T Tech Park Ltd Fellow Subsidiary Premium Income 5.66

17 L&T Komatsu Ltd Fellow Subsidiary Premium Income 0.03

*The Company commenced its commercial operations as a General

Insurance Company on October 1, 2010 . Hence, no figures are shown for

the quarter of previous year.

PERIODIC DISCLOSURESFORM NL-31 Related Party Transactions

Related Party Transactions

Sl.No. Name of the Related PartyNature of Relationship

with the Company

Description of

Transactions / Categories


List below the products and/or add-ons introduced during the period

Sl. No. Name of Product Co. Ref. No. IRDA Ref.no. Class of Business* Category of productDate of filing of

Product

Date IRDA confirmed

filing/ approval


Products Information

FORM NL-32 Products InformationPERIODIC DISCLOSURES

NIL


Solvency for the Quarter ended 30th June 2011

Available Solvency Margin and Solvency Ratio

ITEM Notes No. AMOUNT

(1) (3) (4)

01 2,443.09

Deduct:

02 2,732.22

03 1,403.14

-1,692.26

04 -1,692.26

05 10,638.34

06 1,191.34

9,447

07 9,447

08 7,755

09 5,000

10 1.55Solvency Ratio (Total ASM/Total RSM)

FORM NL-33 - SOLVENCY MARGIN - KGII

Transfer to Policyholder's Assets

Excess in Shareholders' funds

Total ASM (04)+(07)

Total RSM

Excess In Policyholders' funds

Available Assets in Shareholders Funds

Deduct:

Other Liabilities

Excess in Shareholders' funds (05-06)

Available Assets in Policyholders' Funds

Liabilities

Other LiabilitiesExcess/(shortfall) In Policyholders' funds (01)-(02)-

(03)

Transfer from Shareholder's Assets

(2)

L & T General Insurance Co Ltd

TABLE II - FORM KG II

AVAILABLE SOLVENCY MARGIN (ASM) AND SOLVENCY RATIO AS AT 30th JUNE, 2011

(Rs. In Lakhs)

DESCRIPTION

Insurer: L & T General Insurance Co Ltd

Sl. No. Name of person Role/designation Date of Appointment

1 Mr. Y.M Deosthalee Director Since incorporation

2 Mr. N Sivaraman Director Since incorporation

3 Mr. R Shankar Raman Director Since incorporation

4 Mr. Mukund Manohar Chitale Director 26-May-10

5 Mr. Haris Ansari Director 26-May-10

6 Mr. Joydeep Kumar Roy CEO and Whole-time Director 26-May-10

FORM NL-34 : Board of Directors and Key PersonPERIODIC DISCLOSURES


Board of Directors and Key Person Information


Statement as on: June 30, 2011 Name of the Fund: Total Investment

Periodicity of Submission : Quarterly

%

Has there

been

revision?

Amount

Board

Approval

Ref

NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL

FORM NL-35-NON PERFORMING ASSETS-7A

Details of Investment Portfolio

COICompany

Name

Instrume

nt Type

Interest Rate Total

O/s

(Book

Value)

Default

Principal

(Book

Value)

Default

Interest

(Book

Value)

Principal

Due from

Provision

(%)

Provision

(Rs)

Interest

Due from

Deferred

Principal

Deferred

Interest

Rolled

Over?

Has there been any

Principal Waiver?Classific

ation


Statement as on: 30th June 2011

Periodicity of Submission: Quarterly

Rs. Lakhs

Book Value Market Value

A1 Central Government Securities CGSB 4,049.47 3,913.17 80.57

A3 Deposit under Section 7 of Insurance act, 1938 CDSS 201.65 193.28 4.14

A4 Treasury Bills CDSS - - 0.78

C03 Term Loan - Hudco/ NHB/ Institutions accredited by NHB HTLH 590.54 568.12 12.66 8.57% 8.57%

D07 Infrastructure/Social sector- PSU -Debentures/Bonds IPTD 693.69 667.13 15.92

D09 Infrastructure - Other Corporate Securities Debentures ICTD 123.89 124.43 2.91

E05 Corporate Sec - Bonds - Taxable EPBT 1,023.85 1,010.12 24.19 9.45% 9.45%

E29 MF - Promoters group EMPG 301.05 301.05 8.65% 8.65%

E28 Mutual Funds - GILT/G Sec/Liquid Schemes OMGS 319.03 319.03 8.65% 8.65%

TOTAL 7,303.17 7,096.33 141.17

*The Company commenced its commercial operations as a General Insurance Company on October 1, 2010 . Hence no figures are shown for the previous year.

7.97% 7.97%

8.56% 8.56%

FORM NL-36-YIELD ON INVESTMENTS

Statement of Investment and Income on Investment

Category Code

Upto the quarter ended 30th June 2011

Investment (Rs.)Net Yield (%)

No. Category of Investment Income on

Investment

(Rs.)

Gross Yield

(%)*


Statement as on:June 30th 2011 Name of the Fund:Total Investment

Periodicity of Submission: Quarterly

Rs. Lakhs

No Name of the Security COI AmountDate of

Purchase

Rating

Agency

Original

Grade

Current

Grade

Date of

Downgrad

e

Remarks

A. During the Quarter ¹

No downgrades during the quarter

NIL NIL NIL NIL NIL NIL

B. As on Date ²

NIL NIL NIL NIL NIL NIL

FORM NL-37-DOWN GRADING OF INVESTMENT- 2

Statement of Down Graded Investments


(Rs. in Lakhs)

Line of Business

Premium No. of Policies

Fire 478.04 376

Cargo & Hull 161.29 350

Motor OD 943.02 11028

Motor TP 452.79 -

Engineering 134.54 362

Workmen's Compensation 60.90 273

Product Liability

Employer's Liability

Aviation

Personal Accident 152.26 4

Health 264.36 4

Others* 85.24 407

Quarter ended June 30,2011

PERIODIC DISCLOSURESFORM NL-38 Annual Business Returns across line of Business

Insurer: L & T General Insurance Co. Ltd. Date : As on 30th June 2011

(Rs in lakhs)

Sl.No. Line of Business Particular No. of Policies Issued Premium Collected

Rural 33 3.92

Social

Rural 9 0.82

Social

Rural - 42.81

Social

Rural 1400 108.71

Social

Rural 24 6.71

Social

Rural 4 1.34

Social

Rural

Social

Rural

Social

Rural

Social

Rural

Social

Rural 15 0.31

Social

10 Health

11 Others*

7 Employer's Liability

8 Aviation

9 Personal Accident

2 Cargo & Hull

PERIODIC DISCLOSURESFORM NL-39 Rural & Social Obligations (Quarterly Returns)

Rural & Social Obligations (Quarterly returns)

1 Fire

3 Motor TP

4 Motor OD

5 Engineering

6 Workmen's Compensation

Insurer: L & T General Insurance Co. Ltd. Date: 30th June, 2011

1 Individual agents 2,510 359.30

2 Corporate Agents-Banks

3 Corporate Agents -Others

4 Brokers 2,520 727.82

5 Micro Agents

6 Direct Business 7,774 1,645.32

Total (A) 12,804 2,732.44

1 Referral (B) - -

Grand Total (A+B) 12,804 2,732.44

Note:

* Premium means amount of premium received from business acquired by the source

**No of Policies stand for no. of policies sold

PERIODIC DISCLOSURESFORM NL- 40 Business Acquisition through different channels

Business Acquisition through different channels

Premium(Rs in

lakhs)

***The Company commenced its commercial operations as a General Insurance Company on October 1,

2010 . Hence no figures are shown for the previous year.

Sl.No.No. of Policies

Upto 30th June, 2011


Fully Accepted Partial Accepted Rejected

1 Complaints made by customers - 34 34 - - -

a) Sales Related - - - - - -

b) Policy Administration Related - 31 31 - - -

c) Insurance Policy Coverage related - - - - - -

d) Claims related - 3 3 - - -

e) others - - - - - -

d) Total Number - 34 - - - -

2 Duration wise Pending StatusComplaints made by

customers

Complaints made by

IntermediariesTotal

a) Less than 15 days 34 - 34

b) Greater than 15 days - - -

Total Number - - 34

PERIODIC DISCLOSURESFORM NL-41 GRIEVANCE DISPOSAL


GRIEVANCE DISPOSAL

Sl No. Particulars Opening Balance * Additions Complaints Resolved

Complaints Pending

30 june 2011 - hdfc gi · financial disclosures 30 june 2011 insurance is the subject matter of...

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