f47LVftEIT7447-41 cb 22708400 NEW INDIA …...Regulations, 2015, please find attached copy of Annual...

f4 7LVftEIT7447-41 cb 14 5 Phone : 022-22708100 22708400

NEW INDIA ASSURANCE COMPANY LTD. ItATff 7417 .-Tzfi971 ft7T 7747 f4F- 1, 87, Trgffil lift lilt '41)J, - 400 001.

Website : www.newindia.co.in

Regd. & Head Office : New India Assurance Bldg., 87, M.G.Road, Fort, Mumbai - 400 001. CIN No. L66000MH1919G01000526

Ref No.: NLA.CL/CMD_Board Sect/2019-20 • September 3, 2019

To,

The Manager Listing Department BSE Limited Phiroze Jeejeebhoy Tower Dalai. Street Mumbai 400 001

The Manager Listing Department The National Stock Exchange of India Ltd. Exchange Plaza, 5e6 floor, Plot C/1, G Block, Bandra-Kurla Complex Mumbai 400 051

Scrip Code: (BSE - 540769/NSE - .CL)

Dear Sir/Madam,

Sub: Submission of Annual Report for FY 2018-19

Pursuant to Regulation 34 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, please find attached copy of Annual Report for the Financial Year 2018-19.

You are requested to kindly take the same on records

Thanking You

Yours faithfully

For The New India Assurance Company Limited s

4.̀'‘ • tei MUMBAI F '40

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Jayashree Nair Company Secretary & Chief Compliance Officer

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A- (Excellent) with Stable Outlook for Financial Strength by AM Best Company

CRISIL

Company Highlights.......

`

`

`

`

`

Awards & RecognitionsAwards won by The New India Assurance Co. Ltd. FY 2018-19

Board of Directors (as on 30th June 2019)

Mr. Atul Sahai

Mr. P. Ramana Murthy

Mr. Sanjeev Kumar Chanana

Mr. Debasish Panda Mr. Neelam Damodharan

Mr. Kuldip Singh

Ms. Papia Sengupta Mr. S. K. Banerjee

Corporate Management

Mr. Atul Sahai

Ms. S N Rajeswari

Mr. Anjan Dey

Mr. A K Longani

Mr. Renjit Gangadharan

Ms. Gouri Rajan

Mr. Ashok Kumar Pradhan

Mr. R M Singh

Ms. J. Jayanthi

Mr. Sharad S. Ramnarayanan

Mr. J K Garg

Ms. Rekha Gopalakrishanan

Ms. Jayashree Nair

Directors & ExecutivesChairman cum Managing Director

Directors

General Managers

Deputy General ManagersAuditors

Key Managerial Persons

Appointed Actuary

Chief of Internal Audit

Chairman’s Message

Atul Sahai

0

5000

10000

15000

20000

25000

30000

2016-17 2017-18 2018-19

Gross Written Premium (Global)

23021

in

Crores

Financial Year

26554 28017

Net Ear…

10000

12000

14000

16000

18000

20000

22000

2016-17 2017-18 2018-19

Net Earned Premium (Global)

(19725)

(21488)

in

Crores

(17815)

Financial Year

2000

4000

6000

8000

10000

12000

14000

16000

2016-17 2017-18 2018-19

Net Worth

in

Crores

(11023)

(15412) (15714)

Financial Year

2000 2500 3000 3500 4000 4500 5000 5500 6000

2016-17

2017-18

2018-19

INVESTMENT INCOME

(4509)

Financial

Year

(5165)

(5889)

in Crores

10000

12000

14000

16000

18000

20000

22000

24000

2016-17 2017-18 2018-19

Net Premium (Global)

(18591)

(20956)

in

Crores

(22121)

Financial Year

35642.00

38301.00

38022.00

2016-17

2017-18

2018-19

Net Worth (including Fair value)

Financial

Year

in Crores

THE NEW INDIA ASSURANCE CO. LTD. Annual Report 2018-19

11100 Years of Excellence in Service

Notice of Annual General Meeting 14

Directors’ Report 25

STANDALONE

Management Reporting along with Age Wise Analysis 105

Auditors’ Report 112

Comments of CAG 124

Accounts 126

Receipts & Payments 144

Accounting Policy 164

Notes 169

Disclosures 180

CONSOLIDATED

Management Reporting 190

Auditors’ Report 192

Comments of CAG 204

Accounts 205

Accounting Policy 227

Disclosures 246

Contents

12



The New India Assurance Company Limited, Mumbai.

Atul Sahai

Chairman cum Managing Director

Enclosures:

1. Notice of the 100th Annual General Meeting (AGM)



Route map to the venue of the AGM

14



Notice to the 100th Annual General Meeting

NOTICE

. at the

Ordinary business

Item No 1.

Auditors and the Comments of the Comptroller & Auditor

Item No 2

`

Directors

Item No.3

“RESOLVED THAT

Special business

Item No 4. Nominee Director.

“RESOLVED THAT

Item No. 5Managing Director of the Company.

“RESOLVED THAT

Notes

forms part of the notice. Additional information pursuant to

the meeting.

shareholder.

meeting.



shareholding communication through email. You can do

participants.

manner.

Notice.

16



The shareholder needs to furnish the printed attendance

Hall.

Statement pursuant to Section 102(1) of The Companies Act 2013

Item No. :4 Item No. :5



Additional information on Directors proposed to be appointed / reappointed as required under Regulation 36 of SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015 for Item No from 4 and 5.

Debasish Panda

Resume:

& Philippines.

Administration.

Disclosure of inter-se relationships between directors and Key Managerial Personnel

Nil

Board Meeting Attendance and Remuneration :

Panda.

Listed Companies (Other than The New India Assurance Co. Ltd. and its Group Companies) in which Debasish Panda holds directorship and Committee membership Directorship

Chairperson/Membership of Board Committees

Disciplinary cases of GMs.

Company.

Shareholding in the Company

Company.

Atul Sahai

Resume:

Disclosure of inter-se relationships between directors and Key Managerial Personnel

Nil

Directorship

Disclosure of Relationship inter-se between Directors, Manager and other Key Managerial Personnel:

Company.

Shareholding in the Company

Nil

18



Proxy form

The New India Assurance Company Limited

100th Annual General Meeting – August 30, 2019

Registered address

Registered email address



Resolution number Resolution

1

2

4

5

………………………...............………… stamp of not less than

`1Signature of the proxy holder(s)

20



Attendance slip


100th Annual General Meeting – August 30, 2019

Joint Holders

.

…………………………..………………………...............…………

Note:

E-Voting Particulars

er)

Note:



Subject: Instructions for e-voting

E-voting particulars

Password

Steps for e-voting

22



Instructions for e-votingHow do I vote electronically using NSDL e-Voting system?

The way to vote electronically on NSDL e-Voting system consists of “Two Steps” which are mentioned below:

Step 1 : Log-in to NSDL e-Voting system at https://www.evoting.nsdl.com/

Step 2 : Cast your vote electronically on NSDL e-Voting system.

Details on Step 1 is mentioned below:

How to Log-in to NSDL e-Voting website?

either on a

Alternatively, if you are registered for NSDL eservices i.e. IDEAS, you can log-in at https://eservices.nsdl.com/ with your existing IDEAS login. Once you log-in to NSDL eservices after using your log-in credentials, click on e-Voting and you can proceed to Step 2 i.e. Cast your vote electronically.

Manner of holding shares i.e. Demat (NSDL or CDSL) or Physical

Your User ID is:

company



password.

Forgot User Details/Password?

Physical User Reset Password?

[email protected] mentioning

Details on Step 2 is given below:

How to cast your vote electronically on NSDL e-Voting system?

24



General Guidelines for shareholders

.

nsdl.com to reset the password.



(` in crores)Fire Marine Misc Total

Gross Direct Premium Income India CY 2224.75 708.89 20976.52PY 2082.57 600.01 22718.76

(% Growth) CY 18.15 4.69 5.24PY 14.16 20.12 18.85

Outside India CY 752.46 52.77 1892.60PY 659.74 41.16 2440.55

(% Growth) CY 14.05 8.79 10.54PY 2.22

Global CY 2977.21 761.66 22869.12 26607.99PY 641.16 21775.84

(% Growth) CY 8.57 18.79 5.02 5.76PY 7.48 18.46 16.49

Reinsurance Premium Accepted India CY 85.25 125.28PY 90.72 5.19

Outside India CY 44.81 201.19PY 954.47 168.58 1161.50

Reinsurance Premium Accepted Global CY 49.15 1409.11PY 1045.19

Reinsurance Premium Ceded India CY 5148.25PY 4857.48

Outside India CY 547.11 18.07 182.82 748.00PY 512.42 11.29 216.84 740.55

Reinsurance Premium Ceded Global CY 5896.25PY 275.28 5598.04

Global Net Premium CY 444.04 19559.69 22120.86PY 1959.96 409.52 18586.87

Addition / Reduction in Un-expired Risks Reserves CYPY 1202.48

(% to Net Premium) CY 10.69 5.57 1.95 2.86PY 6.47 5.88

Earned Premium CY 1890.90 21487.59PY 19724.60

Incurred Claims Net CY 20496.70PY 1510.40 226.16 15159.90 16896.47

(% to Earned Premium) CYPY 76.97 59.85 87.20 85.66

Directors’ Report & Management Discussion & Analysis –2018-19

26



(` crores)Fire Marine Misc Total

Commission Net CY 448.61 2198.98PY 288.74 56.62 1478.65 1824.01

(% to Net Premium) CY 21.19 8.64 9.94PY 7.96 8.70

Operating Expenses CY 81.06PY 68.95

(% to Net Premium) CY 18.25 18.25 18.25 18.25PY 16.84 16.84 16.84 16.84

U/W Results CYPY 26.14

Investment Income-Policy Holders CY 497.17 79.98PY 596.57 84.51 2847.20

Revenue (Policy Holder) Account Surplus CY 11.45PY 429.71 110.64

Investment Income-Share Holders CYPY

Other Income less Outgo CY 5.18PY 85.09CY 644.87PY 2725.05

Provision for Tax CY 65.08PY 524.14CY 579.79PY 2200.92

Interim Dividend CY 0PY

Dividend Tax CY 0PY 62.91

Transfer to Reserves CY 579.79PY 1829.00

DIVIDEND DISTRIBUTION POLICY

` `` ` ` `

`

` ` ` ` 5 each

BUSINESS RESPONSIBILITY REPORTING



2. PERFORMANCE REVIEW(Global)(` in crores)

2018-19 2017-18A Gross Written Premium (India) 22952

% change over previous year 4.70 17.50Gross Written Premium (Foreign)% change over previous year Gross 10.54Global Premium 28017 26554% change over previous year 5.50

` `

B Net Premium 22120.86% change over previous year 5.56 12.72

` ` `C Change in Unexpired Risk Reserve

% change over previous year 58.70D Earned Premium 21487.59 19724.60

% change over previous year 8.94 10.72E Incurred Claims (Net) 20496.70 16896.47

Percentage to earned premium 85.66F Commission (Net) 2198.98 1824.01

Percentage to Net premium 9.94 8.70G Operating Expenses

Percentage to Net premium 18.25 16.84H Underwriting Results (2524.90)I Investment Income (Less Provision)

Apportioned to policyholders

Total 5885.82 5164.86J Revenue (Policyholders) Account ResultsK Other Income/Outgo 5.18 85.09L 644.87 2725.06M 579.79 2200.92N Paid-up Capital 824.00 412.00O Reserves and Surplus 15277.22P Total Assets 79507.97 74629.47Q Solvency Margin

i. ii.

R Compliance with Section 40Ci. 7225.88ii. 5004.81iii. 2221.07

`

28



PROFILE OF THE BOARD OF DIRECTORS

Name of the Director Directorship and Category of Directorship

DirectorNeelam Damodharan

Management

Commissioner P R Murthy

Director

Director

Director

M. PhilDirector



3. GENERAL INSURANCE INDUSTRY VIS-À-VIS INDIAN ECONOMY:

Indian economy

reforms.

Waterhouse Coopers.

Indian general insurance industry

the industry.

`

a game changer for the industry and can go a long way in speedier

road.

4. OVERVIEW OF COMPANY’S OPERATIONS INDIAN OPERATIONS:

``

INDIAN OPERATIONAL RESULTS

Sr. No

PARTICULARS 2018-19 2017-18(`in Crore) (%) (`in Crore) (%)

1 Gross Direct premium 5.24 22718.76 18.852 Net premium 19281.76 18475.96 14.84

289.65 1246.174 Net earned premium 18992.11 17229.805 Commission 1510.88 7.84 6.516 95.25 15247.757 19.80 18.098 Other income (net of outgo) 1.02 0.01 87.66 0.479 29.75 27.26

to ‘Net Premium.’



B. FOREIGN OPERATIONS:

28 countries.

Today the company operates in the following countries through

Japan

Philippines

Thailand

Australia

Mauritius

Bahrain

Oman

Curacao.

The Company’s foreign operations saw a gross written premium `

of ùnderwriting (loss) of `(543.10`(389.90) crore.

OVERSEAS OPERATIONAL RESULTS

Sr. No.

Particulars 2018-19 2017-18(ìn Crore) (ìn Crore)

1 Gross premium (Gross Direct plus Accepted) 10.22 1.222 Net premium 14.46 2480.40 (0.88)

(14.41)4 Net Earned Premium 2495.48 2494.815 75.02 1648.71 66.476 Commission 688.10 24.24 620.907 220.65 7.77 7.558 Other outgo 4.16 0.14 (2.57) (0.10)9 149.04 5.25 128.64 5.19

net premium

ORGANISATION STRUCTURE

Domestic

Foreign

The Company operates in 28 countries



REINSURANCE

Reinsurance cost at renewals increased though as a result

impacted the results.

schedule.

TECHNO MARKETING

of Corporate clients.

FIRE AND ENGINEERING INSURANCE

The company continued its stellar performance in the Property `2977 Crore

and Engineering to ` 577Crore.

During the year the company adopted enhanced rating for

The Company aspire to maintain our leadership in the

underwriting & claims management.

HEALTH INSURANCE

The Company has garnered a premium of `as against the premium of `

leader.

`

MARINE CARGO AND HULL INSURANCE

Your Company continues to maintain its leadership in Marine

a Marine Cargo Domestic premium of `against `

Domestic premium of ` ` 250 Crores

` ` 22 Crores in Hull. The ` 762 Crores. As the leader



AVIATION INSURANCE

`

Business.

MOTOR

AUTO TIE-UP

5000 dealers. Besides more than 2800 dealers (other than

sale of motor insurance policies to their customers. Auto tie

`

Motor Own Damage (O.D.)

Motor TP Claims and Motor TP Claims Hubs

Court Matters.

MISCELLANEOUS AND LIABILITY INSURANCE

Premium `

year with Gross Written Premium ` 426.10 crore.

during the year as a new product.



BROKERS AND BANCASSURANCE:

of the total premium income of the Company. Our Company

Company across the country.

`

AGENCY:

The Agency channel has the largest share of Premium

` 9780 `

Crores.

generating Premium of Rupees 2667 Crores. The Premium

RURAL AND SOCIAL SECTOR AND MICRO INSURANCE:

sector in the country.

made to suit the needs of rural mass.

remote areas of the country. We also participate in corporate

of rural population of our Country.

RSBY & GOVERNMENT BUSINESS

are adopting the newly launched mass health insurance



`

where in The Company is the sole insurer for fourth year

to more than 55 Crore RuPay Cardholders currently and

years.

PRADHAN MANTRI SURAKSHA BIMA YOJNA

ALTERNATE BUSINESS CHANNEL DEPARTMENT

sale through these channels.

CORPORATE SOCIAL RESPONSIBILITY INITIATIVES

from health to education to eradication of hunger to women’s

Maharashtra and Tata Medical Trust in West Bengal for cancer detection and treatment.

for the early detection of cancer in women in rural Maharashtra.

and Manipur.

(f)

in Maharashtra thus helping the elderly poor and

CUSTOMER CARE

Customer Care Department is functioning well at Company’s



the Policyholders and the prospects. Online information on

through the portal.

0

5179

5145

Disposal Ratio

ENTERPRISE RISK MANAGEMENT

The following functions were also performed under

company

Regulations 2017 and it is displayed on the

Management Committee of the Board periodically to update on the progress of the

CLAIMS MANAGEMENT

discouraging the pile up of claims

were imparted training.



).

Non Suit Suit Total

on 01.04.2018126212 284251

5069408

155690

Non Suit Suit Total126958 17111 144069

1 year

25991 19286 45277

1 year2741 117467 120208

MANAGEMENT OF NON-SUIT CLAIMS

Parameter

126212 155690Amount of claims

`in cr)4769 5097 6210

for more than one

Coinsurance)

1261 786

MARKETING DEPARTMENT

share of 14.07%

` 4546.19 Crore` 544.08 Crore premium

` Crore.

performers.

CORPORATE COMMUNICATION DEPARTMENT

Radio Mirchi.

RIGHT TO INFORMATION ACT

ANTI MONEY LAUNDERING

INDUSTRIAL DISPUTES AND DISCIPLINE



INFORMATION TECHNOLOGY

MN claims settlements.

customer oriented.

to the growing needs of the customer as it always runs on

customer.

etc.

with speed and alacrity.

HUMAN RESOURCE DEVELOPMENT AND PERSONNEL STAFF WELFARE SCHEMES

as well as retired employees along with their dependent

meets with accident whilst on duty which is in addition to the

are encouraged for pursuing higher post graduate academic



Category of Employees

SC ST OBC Total* Ex-Ser- vicemen

PWD

0 6 15 1 1

95 101 541 57 1215 2 2

Part Time

111 65 109 577 58

Category/ Level Total Number

Number and PercentageSC % ST %

7646 1584 20.72 64179 9.45 4.55

7445 1520 20.42 594 7.98695 49.79 121 8.67

7 5 1 0.1422.41 8.05

concessions in the matter of recruitment and promotion and

Regular training programmes are conducted on personality

GENDER ISSUES AND EMPOWERMENT OF WOMEN

Director 1General ManagerDeputy General Manager

276256

them



TRAINING :

homogenous group of employees. Women employees are

OFFICIAL LANGUAGE IMPLEMENTATION

.

INTERNAL AUDIT

controls.

(CAG).

of Annual Report.

for strengthening the audit compliance mechanisms and

LEGAL & CONSUMER FORUM The Department handles legal matters other than T.P

Encouraging and monitoring compromise in consumer

40



VIGILANCEand timely completion of disciplinary proceedings. During

PARTICULARS WITH REGARD TO EMPLOYEES DRAWING REMUNERATION IN EXCESS OF RUPEES ONE CRORE TEN LAKH PER ANNUM IF EMPLOYED THROUGHOUT THE YEAR OR EIGHT LAKH FIFTY THOUSAND PER MONTH IF EMPLOYED FOR PART OF THE YEAR.

SR. NO.

NAME OF THE EMPLOYEES

SERVICE DESIGNATION REMUNERATION QUALIFICATION DATE OF JOINING

AGE LAST EMPLOYMENT HELD

PLACE

IN YRS1 42 1.8.2011 62

2 19.9.2011 56

17 25.02.2002 45

4 40 01.04.1995 65

5 01.09.2011 51

6 64& Co.

7 26.10.2009 60

8 DR PRAMOD WAHANE 28 Deputy CEO 10.10.1990 56 JAPAN

SECRETARIAL STANDARDS

General Meetings. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE

REGULATORS OR COURTS OR TRIBUNALS IMPACTING GOING STATUS OF THE COMPANY AND ITS FUTURE OPERATIONS.

the going concern status of future operations of the Company.

the constitution of nomination and remuneration committee.

Company contested against the order in Competition

`

March 2019 INDEPENDENT DIRECTORS



CHANGES IN SHARE CAPITAL

` ` 412 crore to `

ISSUE OF BONUS EQUITY SHARES:

`

Ballot. Record date was 28 June 2018 and allotment date was 29 June 2018

BOARD EVALUATION:

Remuneration Committee. AUDITORS RESPONSE TO REMARKS

SECRETARIAL AUDITORS

INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY: The Board has adopted policies & procedures for ensuring

RELATED PARTY TRANSACTIONS

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA (IRDAI)

The Accounts of the Company are drawn up according to the

amended from time to time. FINANCIAL RATING

FOREIGN EXCHANGE EARNING & OUTGO AND INFORMATION

The particulars of Foreign Exchange earnings/outgo as required by the Companies Act under Section 217(1)(e) is given below :

` ` 574.28 crores) ` `648.15 crores)

The earnings included all receipts denominated in foreign

all payments in foreign currency in respect of outward

`` . `

` `

CONSOLIDATED FINANCIAL STATEMENTS

42



CORPORATE GOVERNANCE:

Your Company is fully committed to follow sound corporate

management of the company hence assumes the role of a trustee for all others.

performance of the Company. The company’s philosophy

independence of the Board None of the Directors are related to any other Directors or employees of the Company.

BOARD OF DIRECTORS

The Board under went the following changes in its composition

( ) wef 24th May 2018

Nominee Director w.e.f. 24th May 2018

2018

(Whole Time Director) and Mr. C

period of Three months

DETAILS OF DIRECTORS AS ON MARCH 31 2019.

Name Designation1

Chairman cum Managing Director2

Director & General ManagerNeelam Damodharan

P R Murthy 4

5



6

7

8

9

M.Phil

1.

2.

4.

5.

6.

7.

8.

9.

Name of the Director

Category 1 of directors No of Directorship in listed entities including the

CompanyCommittee(s) including the

Company

No of post of Chairperson in

Committee held in listed entities including

the Company1 2 1 0

2 1 2 0N Damodharan 2 1P Ramana Murthy4 2 4 1

5 2 0 06 1 1 0

7 1 1 08 1 0 0

9 2 1 0

1.

2.

4.

5.

6.

7.

8.

9.

44



DETAILS OF THE BOARD MEETING AND COMMITTEES OF THE BOARD FOR FY 2019 :

BOARD MEETING:

Director No. of Meetings attended/ held

Mr. P. R. MurthyMr. N. Damaodharan

Sr. No.

Name of the Director No. of Equity Shares

1 72

FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS :

CODE OF CONDUCT FOR DIRECTORS / SENIOR MANAGEMENT

CRITERIA FOR APPOINTMENT OF DIRECTORS AND SENIOR MANAGEMENT:

REMUNERATION POLICY

i) Audit Committee

AUDIT COMMITTEE:



audit report.

suspected fraud or irregularity or a failure of internal control systems of a material nature and reporting the

Company and the chairman of audit committee shall

22. Carry out any other function as is mentioned in the terms of reference of the Audit Committee and

authority.

2015.

46



Attendance of Members of the Audit Committee:


Mr. Neelam Damodharan

Mr P Ramana Murthy

INVESTMENT COMMITTEE:

Terms of Reference:

accounting for other than temporary impairment in

the Company.

Attendance of the Members of the Investment Committee:

Director/Member No. of Meetings attended/ held

Mr. P Ramana Murthy

RISK MANAGEMENT COMMITTEE:

Terms of Reference:

and policy of the Company from time to time and

decisions in relation to strategic and operational

continuity.

frauds.



18. To perform such other functions as the Board may

security.



the year.

POLICYHOLDERS PROTECTION COMMITTEE:

Terms of Reference :

8. Monitoring of payments of dues to the policyholders

months with reasons therefore and report the same

15. Recommend a policy on customer education

policies and procedures for the creation of a dedicated

the Authority.

Director No. of Meetings

Mr. N. Damodharan

NOMINATION & REMUNERATION COMMITTEE:


1. Recommend to the Board a policy relating to the

(a) relationship of remuneration to performance is clear and meets appropriate performance

48



Committee.

Attendance of Members of the Nomination & Remuneration Committee:

Director No. of Meetings attended


CORPORATE SOCIAL RESPONSIBILITY COMMITTEE:

Terms of Reference:

time.

Attendance of Members of the Corporate Social Responsibility Committee :



STAKEHOLDERS RELATIONSHIP COMMITTEE:


the shareholders of the Company.

5. To perform such other functions as the Board may

6. Carrying out any other function contained in the

time.



Attendance of Members of the Stakeholders Relationship Committee:


Mr. P. Ramana MurthyMr. Neelam Damodharan

Number of Complaints :

Sr. No.

PARTICULARS No.

1as on 01.04.2018

0

2 5

5

4 0

INFORMATION TECHNOLOGY COMMITTEE:


Attendance of Members of the Information Technology Committee :

Director No. of

Meetings attended


PROPERTY REVIEW COMMITTEE:


was held.

SITTING FEES PAID TO INDEPENDENT DIRECTORS DURING THE FINANCIAL YEAR ENDED MARCH 31 2019:

Name of the Director Sitting Fees (`)

KEY MANAGERIAL PERSONNEL:

Chairman cum

General Manager

General Manager

General Manager

General Manager

Ramnarayanan

Disclosures:

accounting policies of the Company during the year.

5. The Board of Directors and the Audit Committee

50



DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION PROHIBITION AND REDRESSAL ACT 2013)

AUDITORS AND AUDIT REPORT

the Company’s annual results. EXTRACT OF ANNUAL RETURN:

12(1) of the Companies (Management and Administration)

RENEWAL OF LICENCE BY THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA (IRDAI)

st March 2019 shall st

The Company has paid the renewal fees as prescri

SUBSIDIARY COMPANIES

S.No. Name of the subsidiary Total paid-up capital (no. of shares)

New India’s shareholding (no. of shares)

% holding of New India Assurance

1.

2. 100.00

Prestige Assurance Plc. Nigeria 69.50

Name of the subsidiary

Currency Investment Income Other Income Dividend

2018 2017 2018 2017 2018 2017 2018 2017 2018 201716018 6082 6670 22100 (14472)

(22289) (18607) 12715 12680 (9574) (5927)Prestige Assurance N 588 22548



POSTAL BALLOT :

Particulars of the Resolution Type of the Resolution

Number of Votes Polled

Votes cast in Favour Votes cast againstNumber of votes % Number of votes %

Capital from ` 600 Crore to `alteration to the Capital clause of Memorandum of Association

Ordinary 99.99 0.01

Alteration of the Capital Clause of the Articles of Association

99.99 0.01

Ordinary 99.99 448 0.01

under

Particulars of the Resolution Type of the Resolution

Number of Votes Polled

Votes cast in Favour Votes cast againstNumber of votes % Number of votes %

Director

100.00 0.00

GENERAL MEETINGS HELD:

Annual General Meeting Day, Date Time VenueNinety Ninth AGM

400020Ninety Eighth AGM

52

THE NEW INDIA ASSURANCE CO. LTD. Annual Report 2018-19 THE NEW INDIA ASSURANCE CO. LTD. Annual Report 2018-19


General Body Meeting Day and Date ResolutionAnnual General Meeting Monday, July 30th 2018 -

Annual General Meeting Wednesday, August 2nd 2017 1. Approval for adoption of new set of Articles of Association

2. Approval of sub-division of shares.3. Increase in Authorised Share Capital of

the Company and subsequent alteration in the Capital Clause of Memorandum of Association

4. Approval of issuance of Bonus Shares.5. To consider and approve the Initial Public

OfferAnnual General Meeting Thursday, August 25th 2016 -

v SUBMISSION OF ACCOUNTS BEFORE PARLIAMENT:

The Ministry of Finance, Department of Financial Services,(Insurance Division) has confirmed that the Annual Report of the Company for the Financial Year 2017-18 along with the Directors’ Report was placed before Lok Sabha on 21.12.2018 and Rajya Sabha on 18.12.2018 as per the requirement of the Companies Act,2013.

v MEANS OF COMMUNICATION:

The Company’s website (www.newindia.co.in) allows access to all the stakeholders of the Company to access information at their convenience. It provides comprehensive information of the Company.

The financial and other information and the various compliances as required/prescribed under the Listing Regulations are filed electronically with BSE and NSE. The financial results, official news releases, analyst call transcripts and presentations are also available on the Company’s website.

v GENERAL SHAREHOLDER INFORMATION:

Registration Number 190Corporate Identification Number

L66000MH1919GOI 000526

Financial Year 2018-19Board Meeting for adoption of Audited Annual Accounts

May 13, 2019

Day, Date and Time of 100th

Annual General MeetingFriday, 30th August 2019 at 3:00 pm

Venue Walchand Hirachand Hall, Indian Merchant Chambers Bldg, IMC Marg, Churchgate, Mumbai 400020

Financial Year April 1, 2018 – March 31,2019

Book Closure -Date of Dividend Payment by 07th September, 2019Company’s Website www.newindia.co.in

v LISTING OF EQUITY SHARES

Currently, the Equity shares of the company are listed at

Stock Exchange April 1, 2018 – March 31,2019

BSE Limited (BSE) Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400001

540769

National Stock Exchange of India Limited (NSE)Exchange Plaza, 5th Floor, Plot C/1, G block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051

NIACL

The Company has paid the annual listing fees for the relevant period to BSE and NSE.

v MARKET PRICE INFORMATION:



Month BSE NSE

High Low High Low2018April 711.10 651.10 709.95 652.85May 764.25 658.90 764.85June 699.00 695.00July 259.05 252.70August 291.95

257.15 217.55 257.25 216.55229.80 195.00 198.00

197.05 196.55206.90 207.00 171.20

2019January 188.70 168.00 172.00

185.00 165.00 184.85 169.00March 224.00 172.75 219.00 172.15

REGISTRAR AND TRANSFER AGENTS:

Link In Time India Pvt. Ltd.

INFORMATION ON SHAREHOLDING:

Sl. No.

Category Number of Shares on March 31

2019

% total

1 Central 1408000000 85.44

2 0.06774691 0.05

4 1546078 0.09

5 2.006 0.027 21724248 8.67

9 0.4710 2.1111 0.0612 Non Resident (Non 85459 0.01

54986214 Other Bodies Corporate 0.2515 9895182 0.6016 Trust 0.00

SHAREHOLDERS OF THE COMPANY WITH MORE THAN 1% HOLDING AS ON MARCH 31 2019 (OTHER THAN PROMOTEROF THE COMPANY.

Sr. No Name No. of Shares held Percentage (%) of total number of shares

1. 8.672. 21667646

20692884 1.26

DISTRIBUTION OF THE SHAREHOLDING OF THE COMPANY AS ON MARCH 31 2019:

Sr No. Shareholding of Nominal Value (INR)

Number of Shareholders

% OF TOTAL SHARE AMOUNT (INR)

% OF TOTAL

ISSUED AMOUNTFrom To

1 1 2500 94976 96.56452 2501 5000 7801050.00 0.0947

5001 10000 510 0.51854 10001 15000 107 0.1088 0.01585 15001 20000 0.00776 20001 25000 774775.00 0.00947 25001 50000 61 0.062 2254975.00 0.02748 50001 102 8188118270.00

54



COMPLIANCE CERTIFICATE OF AUDITORS:

2015.The auditors are in process of issuing the compliance

EVENTS AFTER BALANCE SHEET DATE:

this report.

POLICY FOR MATERIAL SUBSIDIARIES:

disclosure.

DIRECTORS’ RESPONSIBILITY STATEMENT:

(e) Proper systems to ensure compliance with the

CONSERVATION OF ENERGY, TECHNOLOGY, ABSORPTION :

ACKNOWLEDGEMENT

throughout the year.

the company.

The Board of directors places on record their appreciation

the corporate goals in the year ahead.

ATUL SAHAIChairman cum Managing Director



COMPLIANCE WITH THE CODE OF CONDUCT FOR DIRECTORS/SENIOR MANAGEMENT

Atul Sahai


CERTIFICATE OF COMPLIANCE OF THE CORPORATE GOVERNANCE GUIDELINES

Jayashree Nair

56



INDEPENDENT AUDITORS’ CERTIFICATE ON CORPORATE GOVERNANCE

1

Company’).

MANAGEMENTS’ RESPONSIBILITY

internal control and procedures to ensure the compliance

AUDITOR’S RESPONSIBILITY

ensuring compliance with the conditions of the Corporate

Company.

of the Company in accordance with the Guidance Note

Engagements.

OPINION

certify that the Company has complied with the conditions of

audit committee for all the related party transactions wherein

9. We state that such compliance is neither an assurance as

contained there in misleading contain.

For NBS & Co.

Chartered Accountants

For Mukund M. Chitale & Co.

Chartered AccountantsFirm Reg. No.: 110100W Firm Reg. No. 106655W

Devdas BhattPartner

Abhay V. KamatPartner

AUDITORS CERTIFICATE ON CORPORATE GOVERNANCE



CERTIFICATE ON FINANCIAL STATEMENTS

S. N. Rajeswari Atul Sahai


58



Form No. MR-3 SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED 31st MARCH, 2019[Pursuant to section 204(1) of the Companies Act, 2013 and Rule 9 of the Companies

(Appointment and Remuneration of Managerial Personnel) Rules, 2014]

To,The New India Assurance Company Limited

Bldg 87, M G Road Fort Mumbai 400001


opinion thereon.

listed hereunder and also that the Company has proper Board

except the following observation:

The Nomination and Remuneration Committee of the Company was not constituted as per Regulation 19 (1) of SEBI (Listing Obligations and Disclosure Requirements), 2015 from October 15, 2018 till February 05, 2019.



the Return of Foreign Liabilities and Assets pursuant to the requirement under Foreign Exchange Management Act, 1999. However the Company has initiated the process for

We further report that

The Board of Directors of the Company is duly constituted with

We further report that during the audit period the Company had the

`

` each to `

`

Memorandum of Association.

`

`

Managing Director of the Company.

earlier.

For Mehta & Mehta,Company Secretaries(ICSI Unique Code P1996MH007500

Atul MehtaPartnerFCS No. : 5782CP No. : 2486

9

60



ed

correctness of the contents of the secretarial records. The

ANNEXURE A

7. The secretarial audit report is neither an assurance as to

For Mehta & Mehta,

Atul MehtaPartner

9



ANNEXURE AReplies to the observations made by the Secretarial Auditor in their Report for the Financial Year Ended 31st March 2019 :

Reply

`

Reply

62



ANNEXURE B

The New India Assurance Co. Ltd – Annual CSR Report 2018-19

THE ANNUAL REPORT ON CSR ACTIVITIES TO BE INCLUDED IN THE BOARD’S REPORT 2018-191. Brief Outline of CSR Policy:

2. Composition of CSR Committee


Mr. P. R. Murthy DirectorDirectorDirector

`

4. Prescribed CSR Expenditure

` 29.95 Crore.

` 29.68 crore

1 2 4 5 6 7 8

NO

District

Amount Outlay(Budget)

Program wise

Amount spent

or Programs

(1) Direct

on

programs(2)

up to the reporting period

Agency



1

for Health Action iof Cancer for Women

400000 400000AGENCY

2Construcion of

Computers

Pradesh

1951880AGENCY

AdoptionAdoption of 6 mandals in Andhra Pradesh

4000000AGENCY

4 Roads and Andhra Pradesh

4000000AGENCY

5 4750000AGENCY

6 670082AGENCY

7ups & Home

Employment opportunities for youth in Apparel sector through

Pradesh2611080 1827756 2611080

AGENCY

8 50 Cancer 2500000 1500000 2500000AGENCY

9Maintenance of

per child

Odisha

1740000 940000 1480000AGENCY

10Assistance for

capacity Water

1000000 200000 1000000AGENCY

11

Education Empowerment of the

item cost to the

Dehradun

527521 527521AGENCY

64



12 Tata Medical Centre Trust of Tata Medical

room

4500000 4500000 4500000AGENCY

Chennaiassistance

Gynaecology

Hysterolaparoscopy

Chennai

Chennai 1995000 1995000 1995000AGENCY

14

(760000)

Medical Aid to

Calicut

100000 100000 100000AGENCY

15 Cancer Patients Aid Association

Day CampaignMaharashtra

500000 500000 500000AGENCY

16Hitt Association (Aiasha)

assistance for felicitation of

Association

Maharashtra61596 61596 61596

AGENCY

17 Chennai 1590670 1562445 1562445AGENCY

18

construction of water supply facility

Delhi 50000000 50000000 50000000AGENCY

19 Delhi 100000000 100000000 100000000AGENCY



20 DelhiAGENCY

21Education

Ratnagiri

assistance for construction

Ratnagiri

Maharashtra1116079 700000 700000

AGENCY

22assistance to Home Maharashtra AGENCY

of Cruelty to of Cruelty to Animals (Thane

cost of medications and surgical

with Donation of

and Name and cater to small animals in and around Thane District.

Maharashtra AGENCY

24

Gadadhar

Mission.Rudraprayag & Champawat districts

20190000AGENCY

25Mission Trust

Mission Trust to

needy patients.Maharashtra

Andhrapradesh

19698000 4924500 4924500AGENCY

66



26 Cancer Patients Aid Association (CPAA)

surgeries for 100 needy cancer

`per patient

Maharashtra10000000 2500000 2500000

AGENCY

27cost of construction of Puducherry

partnership with

Maharashtra & Chennai

60000000AGENCY

28 Delhi 50000000 50000000 50000000AGENCY

296842487

6. shall provide the reasons for not spending in its Board’sReport:

The Company has spent ` ``

ATUL SAHAI KULDIP SINGH



FORM NO. MGT 9

Pursuant to Section 92 (3) of the Companies Act, 2013 and rule 12(1) of the Company

(Management & Administration) Rules, 2014

I. REGISTRATION & OTHERDETAILS:

12 Registration Date

Name of the Company45

6 Whether listed company Yes7

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

S. No.

Name and Description of main products / services

NIC Code of the Product/service

% to total turnover of the company

1 6512

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES:

SN Name & Address of the Company

CIN/GLN Holding/ Subsidiary/ Associate

%of shares held

Applicable Section

12 Prestige Assurance Plc

4 Associate5 Associate

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)

The New India Assurance Company LimitedSr No

Category of Shareholders Share holding at the beginning of the year-2018 Shareholding at the end of the year - 2019 % Change during the

yearDemat Physical Total % of Total Shares

Demat Physical Total % of Total Shares

(A)Group

(a) 0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.00000 1408000000 0 1408000000 ‘0.0000

(c) 0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.0000(d)

0 1408000000 0 1408000000 ‘0.0000

68



The New India Assurance Company LimitedSr No

Category of Shareholders Share holding at the beginning of the year-2018 Shareholding at the end of the year - 2019 % Change during the

yearDemat Physical Total % of Total Shares

Demat Physical Total % of Total Shares

(a) 0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.0000

0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.0000(c) 0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.0000(d) 0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.0000(e)

0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.00000 1408000000 0 1408000000 ‘0.0000

(B)

(a) 2220988 0 2220988 ‘0.2695 0 ‘0.47280 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.0000

(c) 0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.0000(d) 0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.0000(e) 1071495 0 1071495 1546078 0 1546078(f) 18297677 0 18297677 ‘2.2206 0 ‘2.2178(g) 0 ‘10.9425 0(h) 0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.0000(i)

0 0 ‘0.0250

0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.0000

(a)(i)

share capital upto `4725179 4725217 9416876 206 9417082 ‘0.5714

(ii)`

0 ‘0.0447 478100 0 478100 ‘0.0290

0 0 0 ‘0.0000 858 0 858 ‘0.0001 ‘0.0001(c) Employee Trusts(d) `) 0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.0000

(e)Trusts 10100 0 10100 ‘0.0012 0 ‘0.0008

128672 0 128672 ‘0.0156 0 ‘0.0216 ‘0.006074468 0 74468 ‘0.0090 85459 0 85459 ‘0.0052

0 ‘0.0280 549862 0 549862 ‘0.00540 ‘0.0056 0 ‘0.0615 ‘0.0559

Bodies Corporate 2660299 0 2660299 0 ‘0.25268244091 ‘1.0005 16076641 206 16076847 ‘0.9755

120000106 120000144 206 240000000 ‘0.0000

824000000 ‘100.0000 1647999794 206 1648000000 ‘100.0000 ‘0.0000(C)

0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.0000

2014)

0 0 0 ‘0.0000 0 0 0 ‘0.0000 ‘0.0000

824000000 ‘100.0000 1647999794 206 1648000000 ‘100.0000



Category-wise Share Holding :

(ii) Shareholding of Promoters

The New India Assurance Company LimitedShareholder’s Name Shareholding at the beginning of the year - 2018 Shareholding at the end of the year - 2019 % change in

shareholding during the year

No. of % of total Shares of the

company

%of Shares Pledged /

encumbered to total shares

No. of % of total Shares of the

company

%of Shares Pledged /

encumbered to total shares

0 1408000000 0 0

Total 0 1408000000 0 0

iii) Change in Promoters’ Shareholding

Sr No.

Name & Type of Transaction

Shareholding at the beginning of the year - 2018

Transactions during the year Cumulative Shareholding at the end of the year - 2019

NO. OF SHARES HELD

% OF TOTAL SHARES OF THE COMPANY

DATE OF TRANSACTION

NO. OFSHARES

NO OF SHARES HELD


1 42.7184 42.7184

Transfer 160 704000016 42.7184

Transfer 704000016

Transfer 1408000000

1408000000

` 5.00) at the end of the year is 824 Crores.

iv) Shareholding Pattern of top tenShareholders:

(Other than Directors, Promoters and Holders of GDRs and ADRs):

Sr No.

Name & Type of Transaction Shareholding at the beginning of the year -2018


NO. OF SHARES HELD


DATE OF TRANSACTION

NO. OFSHARES

NO OF SHARES HELD


1 71416594 71416594

Transfer 71416594 8.6671

8.6671

2 0.6574 0.6574

Transfer 21667646

21667646

0.6282 0.6282

Transfer 20706084 1.2564

Transfer 1.2564

Transfer 20704684 1.2564

Transfer

70



Sr No.



NO. OF SHARES HELD


DATE OF TRANSACTION

NO. OFSHARES

NO OF SHARES HELD


Transfer 1.2562

Transfer 1.2561

Transfer 1.2559

Transfer 20697484 1.2559

Transfer 1.2558

Transfer 20692884 1.2556

20692884 1.2556

4 0.14 0.14

Transfer 0.2799

0.2799

5

Transfer

6 2166752 2166752

Transfer 2166752

7 2166752 2166752

Transfer 2166752

8 1189150 0.0722 1189150 0.0722

Transfer 1181000 0.0717

Transfer 0.0679

Transfer

Transfer 2260078

Transfer 4500 2264578

Transfer 2271948

Transfer 1407210

Transfer 112

Transfer 210

Transfer 6

Transfer

Transfer 116

Transfer 105

Transfer 7500

Transfer

Transfer 846

Transfer 210

Transfer 104

Transfer 24282

Transfer 6997 0.2257



Sr No.



NO. OF SHARES HELD


DATE OF TRANSACTION

NO. OFSHARES

NO OF SHARES HELD


Transfer 219 0.2257

Transfer

Transfer 0.2261

Transfer 0.226

Transfer 1702009 5426259

Transfer 1514

9 1154876 0.0701 1154876 0.0701

Transfer 1154876 0.1402

0.1402

10 0.0657 1083376 0.0657

Transfer 1083376 2166752 2166752

` 5.00) at the end of the year is 824 Crore.

V) Shareholding of Directors and Key Managerial Personnel: Shareholding of Mr. G. Srinivasan (Chairman cum Managing Director) – Superannuated on 31.07.2019

SN For each of the Directors and KMP Shareholding at the beginning of the year

Cumulative Shareholding during the year

No. of shares % of total shares of the

company

No. of shares % of total shares of the

company1 16 0.000002 16 0.0000022

3 At the end of the year 0 0.000000Shareholding of Mr. Hemant G. Rokade (Director and General Manager upto 27.01.2019) – Superannuated as General Manager on 30.04.2019SN Shareholding of each Directors and each Key Managerial

PersonnelShareholding at the beginning

of the yearCumulative Shareholding

during the yearNo. of shares % of total

shares of the company

No. of shares % of total shares of the company

1 16 0.000002 16 0.0000022

3 At the end of the year 0 0.000000

72



Shareholding of Mr. Samir Kumar Banerjee (Director)SN Shareholding of each Directors and each Key Managerial






1 0.000004 0.0000042

` `11.05.2018.

3 At the end of the year 72 0.000004Shareholding of Ms S.N. Rajeswari (GM & CFO)SN Shareholding of each Directors and each Key Managerial






1 16 0.000002 16 0.0000022

3 At the end of the year 0 0.000000Shareholding of Mr. C Narambunathan (Director and General Manager) – Superannuated on 31.05.2019)SN Shareholding of each Directors and each Key Managerial






1 16 0.000002 16 0.0000022

3 At the end of the year 0 0.000000Shareholding of Mr. Sidharth Saratchandra Pradhan (General Manager upto 08.08.2018) – Transferred to National Insurance Co. Ltd.SN Shareholding of each Directors and each Key Managerial

PersonnelCumulative Shareholding




1 268 2682

dated 11.05.2018.

3 At the end of the year 504



Shareholding of Ms. Tajinder Mukherjee (General Manager upto 14.09.2018) – Transferred to National Insurance Co. Ltd.SN Shareholding of each Directors and each Key Managerial






1 286 2862

dated 11.05.2018.

3 At the end of the year 540Shareholding of Mr. Renjit Gangadharan (General Manager)SN Shareholding of each Directors and each Key Managerial






1 268 2682

dated 11.05.2018.

3 At the end of the year 504Shareholding of Ms. J Jayanthi (General Manager)SN Shareholding of each Directors and each Key Managerial






1 270 2702

dated 11.05.2018.3 At the end of the year 540Shareholding of Ms. Gouri Rajan (General Manager)SN Shareholding of each Directors and each Key Managerial






1 648 0.000079 648 0.0000792

dated 11.05.2018.3 At the end of the year 1296 0.000079

74



Shareholding of Mr. R M Singh (General Manager)SN Shareholding of each Directors and each Key Managerial






1 0.000004 0.0000042


Shareholding of Mr. J K Garg (General Manager)SN Shareholding of each Directors and each Key Managerial

PersonnelCumulative Shareholding




1 126 0.000015 126 0.0000152


SN Shareholding of each Directors and each Key Managerial Personnel

Shareholding at the beginning of the year




1 90 0.000011 90 0.0000112

dated 11.05.2018.3 At the end of the year 180 0.000011Shareholding of Mr. Rajendra Prasad Joshi (Chief of Internal Audit)SN Shareholding of each Directors and each Key Managerial






1 288 2882

dated 11.05.2018.3 At the end of the year 576



SN Shareholding of each Directors and each Key Managerial Personnel

Shareholding at the beginning of the year




1 0.000004 0.0000042


V) INDEBTEDNESS –

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIALPERSONNEL-

A. Remuneration to Managing Director, Whole-time Directors and/orManager:

SN. Particulars of Remuneration Name of MD/WTD/ ManagerG Srinivasan Atul Sahai Hemant G.

RokadeC

Narambunathan1 Gross salary 2242510 2492160

225626717(1)

0 0

2

4 Commission

5please specifyTotal (A)Ceiling as per the Act

B. Remuneration to other directors

SN. Particulars of Remuneration Name of DirectorMr. S. K. Chanana

Mr. Kuldip Singh

Mr. S. K. Banerjee

1

225000 261000 225000

76



SN. Particulars of Remuneration Name of DirectorMr. S. K. Chanana

Mr. Kuldip Singh

Mr. S. K. Banerjee

Commission 0 0 00 0 0

Total (1) 225000 261000 2250002

Directors

Commission

Total (2)

Total Managerial Remuneration

C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THA NMD/MANAGER/WTD

SN Particulars of

Remuneration

Key Managerial Personnel

CS CFO CMO Appointed Actuary

Chief

of Internal Audit

Chief Investment

Chief Risk Chief Under writing

General Managers

Total

1 Gross salary

contained in section 17(1)

5645746 1827921 2097260 2115221

296000 172644

of salary under

1961

2

4 Commission



SN Particulars of

Remuneration

Key Managerial Personnel

CS CFO CMO Appointed Actuary

Chief

of Internal Audit

Chief Investment

Chief Risk Chief Under writing

General Managers

Total

5specifyTotal 1652414 6689698 2297627 2440175

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: NIL

compliance with the constitution of nomination and remuneration committee.

ATUL SAHAI

78



ANNEXURE ATHE NEW INDIA ASSURANCE COMPANY LIMITED

CIN: L66000MH1919GOI000526n) submitted

along-with Annual Audited Financial Results - (Consolidated)

9[See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]

I. SI. No. Particulars Audited Figures (as reported before adjusting for

(In Lakhs)

Adjusted Figures (audited

(In Lakhs)

1 2761224 27612242 2700747 2700747

60477 604774 Earnings per share5 Total Assets 8040284 804028467 Net Worth8

N.A.

``860 crores relating



commented upon.

III. Signatories:

For The New India Assurance Co. Ltd. For The New India Assurance Co. Ltd.Atul Sahai S.K. Banerjee

Audit Committee Chairman

For The New India Assurance Co. Ltd.S. N. Rajeswari

For NBS & CO. For Mukund M Chitale & Co.Chartered Accountants Chartered Accountants

Devdas Bhat Abhay KamatPartner Partner

80



ANNEXURE BTHE NEW INDIA ASSURANCE COMPANY LIMITED

CIN: L66000MH1919GOI000526




(In Lakhs)


(In Lakhs)

1 2761224 2761224

2 2700747 2700747

60477 60477

4 Earnings per share

5 Total Assets 8040284 8040284

6

7 Net Worth

8.

II.

N.A.

reconciliation.



III. Signatories:






82



ANNEXURE CTHE NEW INDIA ASSURANCE COMPANY LIMITED

CIN: L66000MH1919GOI000526


[See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016]


(In Lakhs)


(In Lakhs)

1 2761224 2761224

2 2700747 2700747

60477 60477


5 Total Assets 8040284 8040284

6

7 Net Worth

8.

II.

N.A.



commented upon.

III. Signatories:






84



ANNEXURE D

THE NEW INDIA ASSURANCE COMPANY LIMITED

CIN: L66000MH1919GOI000526

opinion) submitted along-with Annual Audited Financial Results - (Consolidated)



(In Lakhs)


(In Lakhs)

1 2761224 2761224

2 2700747 2700747

60477 60477


5 Total Assets 8040284 8040284

6

7 Net Worth

8.

II.

N.A.



III. Signatories:





Devdas Bhat Abhay Kamat

Partner Partner

86



ANNEXURE A

THE NEW INDIA ASSURANCE COMPANY LIMITEDCIN: L66000MH1919GOI000526

along-with Annual Audited Financial Results - (Standalone)



(In Lakhs)


(In Lakhs)12 2688654 2688654

57979 57979 4 Earnings per share5 Total Assets 7950797 795079767 Net Worth 1576166 15761668.

II.

N.A.

``860 crores

20 also.



commented upon.

III. Signatories:






Partner Partner

88



ANNEXURE BTHE NEW INDIA ASSURANCE COMPANY LIMITED

CIN: L66000MH1919GOI000526




(In Lakhs)


(In Lakhs)

12 2688654 2688654

57979 57979 4 Earnings per share

5 Total Assets 7950797 795079767 Net Worth 1576166 15761668.

II.

N.A.



commented upon.

III. Signatories:






Partner Partner

90



ANNEXURE C

THE NEW INDIA ASSURANCE COMPANY LIMITEDCIN: L66000MH1919GOI000526




(In Lakhs)


(In Lakhs)

1.2. 2688654 2688654

57979 57979 4. Earnings per share5. Total Assets 7950797 79507976.7. Net Worth 1576166 15761668.

II.

b. c. First time

N.A.e.

care.



commented upon.

III. Signatories:






Partner Partner

92



Form AOC-1

ventures

Part “A”: Subsidiaries

` ‘000Sl. No. Particulars Details

1.

2. holding company’s reporting period

Trinidad and Tobago dollars

Exchange rate `10.246/T&T Dollar

4. 5.

6. Total assets7.

8. 9.

10. 11. 12.

14.

Atul Sahai S. N. Rajeswari

Jayashree Nair



Form AOC-1

ventures



1.

2. the holding company’s reporting period

Nigerian Naira

`

4. 5. 6. Total assets7.

8. 9.

10. 11. 12.

0.57114. 69.5


Jayashree Nair

94



Form AOC-1

ventures



1.

2. holding company’s reporting period

`

4. 45. 6. Total assets7. 8. 09. 0

10. (82)

11. (24)

12. (57)

014. 100


Jayashree Nair



Part “B”: Associates and Joint Ventures

Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to Associate Companies and Joint Ventures

India International Insurance Pte Ltd

31 December 2018

year end

`

NA

`

`

ii. Not Considered in Consolidation


Jayashree Nair

96



Part “B”: Associates and Joint Ventures

Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to Associate Companies and Joint Ventures

Health Insurance TPA Of India Ltd.31st March 2019

year end

`

NA

``

`

`

ii. Not Considered in Consolidation


Jayashree Nair



BUSINESS RESPONSIBILITY REPORT SECTION A: GENERAL INFORMATION ABOUT THE COMPANY

Group Class Description65 6512 65120 Non-life insurance

enclosed)

` 824 crore

`

` 605 crore

to this report..

ii. Prestige Assurance Plc. Nigeria

No.

No.

Name DesignationChairman cum Managing Director

Particulars Details1 081018462 Name

Designation Director & General Manager4 Telephone

5co.in

98



P1

P2

P4

P5 Businesses should respect and promote human rights

P6

P7

P8

P9

No. Questions P P P P P P P P P

1 2 3 4 5 6 7 8 9

1

2

words)4 Yes

5 Yes

6 www.newindia.co.in

7

8 Yes

9 Yes

10 Has the company carried out independent policies through its internal audit department.



a) If answer to the question at serial number 1 against any principle, is ‘No’, please explain why: (Tick up to 2 options)

No. Questions P P P P P P P P P

1 2 3 4 5 6 7 8 9

1 The company has not understood the Principles

N.A.

2itself in a position to formulate and implement

N.A.

N.A.

4 N.A.

5year

N.A.

6 Any other reason (please specify) N.A.

(a) Committee of the Board or CEO to assess the BR

r

www.newindia.co.in .

SECTION E: PRINCIPLE-WISE PERFORMANCE

Principle 1

employees of the Company.

corruption.

Principle 2

opportunities.

the Company.

the Company.

words or so.

100



the Company.

including local and small producers can participate.

Principle 3

Category of Employees Male Female Total5426 2220 7646802

5576 1869 7445

10127 7

TOTAL 4507

2.

68

Category of Employees Total120

122718

TOTAL

No. Category No of complaints pending as on

1 0 02 4

Discriminatory employment 0 0

to Disciplinary Authority.

8. What percentage of your under mentioned employees were

Process.

Principle 4

synergetic relationship.

egions

sections of the society.



e. Women’s Empowerment

forces

or so.

Project Name

children

patients.

Cancer for Women

Principle 5

at all spheres of operation.

The policies of the Company including Code of conduct for

Principle 6

etc.

emission footsteps.

No.

portal.

Company.

Company.

Principle 7

102



Principle 8

details thereof.

NGOs

implementation stage.

Sr. No. Name of NGO Item Location Amount

Sanctioned (`)1 60000000

2

Care Treatment)hrapradesh

19698000

400000

4Arunachal Pradesh

5

6 Cancer Patients Aid Association cancer patients © `

10000000

7 Employment opportunities for youth in 2611080

8 2500000

9.

annum per child

1740000



Sr. No. Name of NGO Item Location Amount

Sanctioned (`)10.

Rudraprayag & Champawat

20190000

11. 1000000

12.Education Empowerment of the

1116079

14. Tata Medical Centre Trust 4500000

in 50 words. or so.

Principle 9

50 words or so.

`

2019.

104



ANNEXURELIST OF OVERSEAS OFFICES FOREIGN BRANCHES & AGENCIES,

ASSOCIATE & SUBSIDIARY COMPANIES

A. FOREIGN BRANCHES.

Country Branches Year of commencement of operations.1. 1950

Nagoya 1964Hiroshima

198019781962

Gifu 20162. 1952

Philippines (One) Manila4. Thailand (One) 19485. Australia (One) 19556. 1954

19671982

Nadi 19967. Mauritius (One) 8. 1920

20009. 2004B. FOREIGN AGENCIES.

Country Branches Year of commencement of operations.1.2. 1961

Bahrain (One) Bahrain 19594.5. Oman (One) Muscat 19756.7. Netherlands Antilles (One) Curacao 1954C. SUBSIDIARY COMPANIES.

Country Branches Year of commencement of operations.1. Nigeria 1970

Port Harcourt2. 1966

Castries4. Dominica Roseau5.6. Guyana Guyana7. Anguilla Anguilla8.D. REPRESENTATIVE OFFICE.

Country Year of commencement of operations

1. Myanmar Yangon 2015

ASSOCIATES



`` 500

Age-wise Summary of Claims settled during the years 2014-15 to 2018-19

Age band No. of Claims Amount (` in Lakhs)

380106

Grand Total 17559144 6603837

No. Name Entity in which he is interested

Interested as

Amount of payments during the

(` In lakhs)

Management Report

106



Atul Sahai S. N. Rajeswari Jayashree Nair



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NBS & Co. Mukund M.Chitale & Co.Chartered Accountants Chartered Accountants14/2, Western India House, 2nd Floor, Kapur House,Sir P.M. Road, Paranjpee Scheme B Road No. 1,Fort, Vile Parle (East)Mumbai 400001 Mumbai – 400057

INDEPENDENT AUDITOR’S REPORT

To the Members of


Report on the Audit of the Standalone Financial Statements




III. Emphasis of Matter

`

`

`

`

114



IV. Key Audit Matters

Sr. No.

Key Audit Matters Auditor’s Response

1.

`

``

3.



V. Information Auditor’s report thereon

VI. Responsibilities of Management and Those Charged with Governance for the Standalone Financial Statements

VII. Auditor’s Responsibilities for the Audit of the Standalone Financial Statements

116



VIII. Other Matters

`

`

` `

IX. Report on Other Legal and Regulatory Requirements

118



.

For NBS & Co

Devdas Bhat

For Mukund M. Chitale & Co

Abhay. V. Kamat



Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013

THE NEW INDIA ASSURANCE CO LTD.

Management’s Responsibility for Internal Financial Controls

Auditors’ Responsibility

Annexure A to the Independent Auditors’ Report of even date on the Financial Statements of The New India Assurance Company Limited

Meaning of Internal Financial Controls over Financial Reporting

Inherent Limitations of Internal Financial Controls over Financial Reporting



Other Matter

For NBS & Co

Devdas Bhat


Abhay. V. Kamat



Sr. No.

Directions under Section 143(5) of Companies Act 2013

Action taken and Financial Impact

1

3

Additional directions issued by C&AG of India as applicable to The New India Assurance Company Limited for the year 2018-19

1

` `

`

ANNEXURE “B” REFERRED TO IN PARA IX (n) IN REPORT ON OTHER LEGAL AND REGULATORY MATTERS REFERRED TO IN OUR STATUTORY AUDIT REPORT OF EVEN DATE FOR THE YEAR 2018-19 ON THE ACCOUNTS OF THE NEW INDIA ASSURANCE COMPANY LIMITED



3

`

` Particulars 2018-19 2017-18 2016-17 Prior to

2016-17Total

355573.54 86373.10`

` Ageing PSU Private Total

15787.567354.77

1858.34Total 26437.88 1811.81 28249.69

``

` `

``

` `

`

`



`` `

5

For NBS & Co

Devdas Bhat


Abhay. V. Kamat



COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA UNDER SECTION 143(6) (b) OF THE COMPANIES ACT, 2013 ON THE FINANCIAL STATEMENTS OF THE NEW INDIA ASSURANCE COMPANY LIMITED FOR THE YEAR ENDED 31 MARCH 2019.

Balance Sheet – Application of Funds

Provisions – Schedule 14 – Reserves for Bad and Doubtful Debts – ` 386.43 crore

`

` 1.

`

`

1` ` ``

REPLY TO COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA

`

`



Regulatory & Development Authority Regulations, 2002 for Preparation of Financial Statements and Auditor’s Report of Insurance Companies in case of The New India Assurance Company Limited.We certify that:

Sr. No. Asset

`

` ` 48.38

`

`

As per our report of even date

For NBS & Co.

For Mukund M Chitale & Co.

Devdas Bhat

Abhay Kamat



Fire Insurance Revenue Account for the year ended 31st March, 2019

Particulars ScheduleFor the Year ended

31-03-2019(` 000’)

`

1 189089662396210

--

2694108 3680388Total (A) 23999284

21380843 151040163 44860834 3864703 3300553

-118603

Total (B) 29850232(5850948)

5850948--

Total - 16

Jayashree Nair S. N. Rajeswari

Atul Sahai

As per our report of even dateFor NBS & Co. Mukund M. Chitale & Co.




Marine Insurance Revenue Account for the year ended 31st March, 2019


31-03-2019(` 000’)

`

1 4193117 3778700385462

--

433383 460175Total (A) 5011962

34543633 613415 5661834 810567

-19078

Total (B) 4897423 3517745114539

(114539)--

Total -

16


Atul Sahai





Miscellaneous Insurance Revenue Account for the year ended 31st March, 2019


31-03-2019(` 000’)

`

1 19177383615459806

--

17381779Total (A) 224615421

1801318203 16890290 147865134 35705130 31300043

-765210

Total (B) 233492450(8877029)

8877029--

Total -16


Atul Sahai






31-03-2019(` 000’)

`

(5850948)114539

(8877029)

1138519810126292 7460657

-428012 1036763

- Total (A)=1+2+3 7326064

46749 11416454469

--

27405296843 135087

237149080

464 Total (B)=(4+5) 877381

6448683663089(12284)

5797878-

--

(5797878)-

` 3.52 13.47 16


Atul Sahai



130



Balance Sheet as at 31st March, 2019

Particulars ScheduleAs at

31-03-2019(` 000’)

`

82400006 151211343

75176922147428860

7 -Total A 382057125 385774773

5919020082787144

10 51889692165715

11 9604877696987131

Sub Total (a+b) 193035907

13 29787749414 116979824

Sub Total (c+d) 414857318(221821411)

15 1834700

Total B 382057125 385774773 16


Atul Sahai





ParticularsFor the Year ended

31-03-2019 (` 000’)

`

Schedule 1 - FirePremium Earned(Net)

22247497 7524596

Total 29772093 11230814 19831613 21171294 2262328

Total Premium Earned (Net) 18908966

Schedule 1 - MarinePremium Earned(Net)

7088897 527750

Total 7616647 6411650 491455 436304

3667723 4440379 247262 316468

Total Premium Earned (Net) 4193117 3778700

Schedule 1 - MiscellaneousPremium Earned(Net)

209765198 18925971

Total 228691169 2368865

35463152 195596882 185868737

3823046 Total Premium Earned (Net) 191773836

Schedule 1 - Premium Earned for the year ended 31st March, 2019




31-03-2019 (` 000’)

`

Schedule 2 - FireClaims Incurred (Net)

19443498 7468128

10727120 Net Claims Paid 16184506

32706735 27514412

4014 Total Incurred Claims (Net) 21380843 15104016

Schedule 2 - MarineClaims Incurred (Net)

6180861 4313447 394522

3211595 Net Claims Paid 3363788

4429428 4303618 4303618 (35235)

Total Incurred Claims (Net) 3454363

Schedule 2 - MiscellaneousClaims Incurred (Net)

178571435 3103346

29958454 Net Claims Paid 151716327

194008091 165382900

(209698)Total Incurred Claims (Net) 180131820

Schedule 2 - Claims Incurred for the year ended 31st March, 2019




31-03-2019 (` 000’)

`

Schedule 3 - FireCommission (Net)

3468965 3341040 1718066 1706838

700948 Commission (Net) 4486083

Break-up of Commission Direct2380152 978086 109591 133010

1136 708 Total Commission 3468965 3341040

Schedule 3 - MarineCommission (Net)

729214 61943

177742 Commission (Net) 613415 566183

Break-up of Commission Direct336064 392700

450 518 -

Total Commission 729214

Schedule 3 - MiscellaneousCommission (Net)

18802466 408543

2320719 Commission (Net) 16890290 14786513

Break-up of Commission Direct13073835

2720335 338337

2669959 Total Commission 18802466

Schedule 3 - Commission for the year ended 31st March, 2019

134




31-03-2019 (` 000’)

`

Schedule - 4

Operating Expenses Related To Insurance Business

29019767

679250

167190

1384962

667166

373279

273709

920902

111759 117868

-

-

-

-

699891

105307 85314

167275

1503304

67296

2493843

873122

872378

Total 40380400 35290217

3864703 3300553

810567

35705130 31300043

Total 40380400 35290217

Schedules for the year ended 31st March, 2019



ParticularsAs at

31-03-2019 (` 000’)

`

Schedule - 5Share Capital

` `

10000000 6000000

` `

8240000

` `

8240000

` `

8240000

Total 8240000

Note :

SCHEDULE 5APattern of Shareholding

Share holderAs at 31-03-2019

Numbers % of Holding1408000 85.44 704000 85.44

- - - -240000 14.56 14.56

Total 1648000 100.00 100.00


136



ParticularsAs at

31-03-2019 (` 000’)

`

Schedule 6Reserves and Surplus

575 575--

575 575-

18962416122249038

5797878

(4120000)(4966878)

118960038-

107138081674619 1458404

-12388427 10713808

84636453523

-899887 846364

-

Total 151211343

Schedule 7Borrowings

----

Total -




ParticularsAs at

31-03-2019 (` 000’)

`

Schedule 8 - Investments ShareholdersLong term investments

70318518-

87458997330

325465-

797273833459

487040-

1650466412441766 6156465

Total 195542977Short Term Investments

3258874-

----

1617893---

3453489441936 1110

Total 8772192Grand Total 204315169


138



ParticularsAs at

31-03-2019 (` 000’)

`Schedule 8-AInvestments - PolicyholdersLong term investments

127951074-

170586886644

63508715438227

-2365158432205948

Total 370469450

Short Term Investments6359119

-

---

3157034862361 1877

6738875Total 17117389

Grand Total 387586839

Investments total586214458 550774051

5687550 4608077Grand Total 591902008

30136 30136931529921844

` `

` `

` `

Provision made for bad and doubtful debts shown under Schedule 14.5 against assets in Schedule 8

12671697013

1486711121899

46832 1436464174

15467 14017

1535 1535

Total 1622307




ParticularsAs at

31-03-2019 (` 000’)

`Schedule 9Loans

-2200775

-- 70-

-357672228697 178850

Total 2787144

357671---

2429473-

Total 2787144

357671

2429473- 70-

--

Total 2787144

72489

285182 847341-

2429473Total 2787144

` ` ` ` ` `

Assets in Schedule 9 for current year are shown after netting of following provisions18115 18115

400 400363050 366485

83368 833681436

16573 16573- 4

2932Total 485874


140



Sche

dule

s fo

r the

yea

r end

ed 3

1st M

arch

, 201

9

Sche

dule

10

Fixe

d As

sets

`

Parti

cula

rs

Gros

s Bl

ock

Depr

ecia

tion

Fund

Net B

lock

Open

ing

Bala

nce

Addi

tions

Dele

tions

/ Ad

just

men

ts* C

losi

ng

Bala

nce

Open

ing

Bala

nce

Addi

tions

Dele

tions

/ Ad

just

men

t* C

losi

ng

Bala

nce

Clos

ing

Open

ing

01-0

4-20

18Du

ring

2018

-201

931

-03-

2019

01-0

4-20

18Du

ring

2018

-201

931

-03-

2019

31-0

3-20

1901

-04-

2018

1575

577

7611

6 13

7068

13

7068

76

116

1138

46

86

37

1817

8 10

6088

0

6174

8 10

8157

0

4067

78

1655

584

5614

16

1003

456

1113

36

7577

33

08

1156

05

8715

46

4317

75

60

3317

74

1066

66

4461

70

4461

70

3317

74

1176

0443

46

1373

33

5013

11

7604

43



ParticularsAs at

31-03-2019 (` 000’)

`Schedule 11Cash and Bank Balances

1831483

23737189 145418774940942210543796

-10526886 16774443

Total 96048776Cash and Bank Balances In India 39896484Cash and Bank Balances Outside India 56152292

Total 96048776-

9633308

132138Total 132138




ParticularsAs at

31-03-2019 (` 000’)

`

Schedule 12Advances and Other Assets

356167 536085-

237183-

6293147

460216Total (A) 7346713 3664180

100662061111996459197941334358

45782732--

13327590488177408951700000 1380000

58261 78140Total (B) 89640418

TOTAL (A+B) 96987131

` `

Provision made for Bad and doubtful debts shown under Schedule 14.5 against assets in Schedule 12

93984946978

49469976

187893 16133511403 1036811207

20000072675

55564918554 18554

31 313851 38511016

2Total 2173713




ParticularsAs at

31-03-2019 (` 000’)

`Schedule 13Current Liabilities

203318912249241

396753 3347715512659

18409236 1583487415559070

9664877-

231144253-

1139757960774274148 344015355065177226 78140

1246 376Total 297877494

Schedule 14Provisions

106350310----

386432463835

-6701355 6651300

Total 116979824

Schedule 15Miscellaneous Expenditure

- 1834700

Total 1834700


144



ParticularsAs at

31-03-2019 (` 000’)

`A. Cash Flows from the operating activities:

320677702 218699 136570

(24079939)(16729396)

(206585676)(22808357)(30532220)

- 7331

(4513990)(28882839)

490282 (12738403)

- (12738403)

(1188971)194749 406645

(50837886)-

43640396 579262

30776130 -

(550926)22612754

- - -

(4966009)225500

(4740509)D. Effect of foreign exchange rates on cash and cash equivalents, net 701602

E. Net increase in cash and cash equivalents: 5835444 90213332 96048776


Atul Sahai



Receipts & Payments Account / Cash Flow Statement for the period from 01/04/2018 to 31/03/2019



(`00

0’)

Rev

enue

Acc

ount

Ele

men

tsFi

reM

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e C

argo

Mar

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Hul

lM

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CY

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4334

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6153

734

8705

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8739

637

8581

729

2884

486

2873

161

7607

0153

8973

3645

187

3412

134

7477

7535

350

3631

33N

et E

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m79

9186

285

4637

928

3524

929

0964

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8973

1758

4033

7422

230

8548

616

7847

1801

3038

5415

8134

1047

7To

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4567

475

5539

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3359

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6331

4307

6737

8640

7667

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4971

1370

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6144

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7330

860

3133

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6177

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Pai

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2649

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5126

721

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3044

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3430

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1153

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611

4341

543

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2554

1317

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113

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318

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822

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1153

6718

1185

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4154

358

3853

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5800

1620

2954

1352

350

1993

501

2252

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2247

587

3604

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3140

154

3880

1380

8603

Net

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Cla

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4288

275

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625

2400

315

2221

955

9723

4652

2530

8372

719

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414

4187

811

3785

6786

83

5073

8361

5076

1005

771

683

8401

417

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Net

Incu

rred

Com

mis

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1351

328

(251

382)

4551

0742

4726

2766

8(3

554)

4827

7542

1171

5858

5164

5615

(116

9814

)(4

2427

55)

(393

744)

8786

8921

7105

(324

63)

(176

639)

8462

26

SEG

MEN

T R

EPO

RTI

NG

FO

R T

HE

PER

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EN

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31S

T M

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201

9 IN

DIA

N

146



SEG

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T R

EPO

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FO

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HE

PER

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EN

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31S

T M

AR

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201

9 IN

DIA

N(`

000’)

Rev

enue

Acc

ount

Ele

men

ts

Mot

or O

DM

otor

TP

Mot

or T

otal

Hea

lthC

YPY

CY

PYC

YPY

CY

PY30

1580

1758

3087

6788

4667

84

4603

888

Net

Pre

miu

m28

3826

8831

8157

8855

1668

5854

5291

9883

5495

4686

3449

8671

2936

4062

1782

3275

5068

3346

558

Net

Ear

ned

Prem

ium

3075

3229

3106

0720

5570

2281

4832

1112

8645

5509

7938

1832

6794

7082

5904

8581

1161

5316

1058

8776

1040

8157

0313

Tota

l Inv

estm

ent I

ncom

e42

3072

140

1668

219

5427

1716

8798

0323

7734

3820

8964

8641

6154

237

1218

830

6774

8158

0388

3451

3033

31

Net

Cla

im P

aid

2596

7297

2293

8729

2854

9234

2500

7681

5451

6531

4794

6410

6662

7835

6085

8745

1537

7533

316

3477

164

1080

1680

1500

0015

0000

1500

0010

5381

56N

et C

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ng O

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8370

595

7291

564

1447

1841

312

3859

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8900

813

1150

648

9409

300

8759

172

5000

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9156

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3859

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1079

7461

313

1150

649

1144

8375

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5917

283

1030

668

3005

3115

0000

3087

011

6754

505

Net

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Cla

im27

0463

2623

7211

5649

4085

6440

8921

5276

4548

9064

6133

0867

2779

6461

3076

1056

7371

351

7634

4

1457

6738

4558

Net

Incu

rred

Com

mis

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5545

069

5422

112

1147

606

2973

0566

9267

557

1941

743

5204

946

6522

210

6486

61

(425

3477

)(5

9120

7)14

6062

0414

8098

9010

3527

2714

2186

83(1

2689

653)

(138

6072

4)



(` 0

00’)

Rev

enue

Acc

ount

Ele

men

ts

Empl

oyer

s Li

abili

tyPr

oduc

t / P

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Lia

blity

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litie

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rson

al A

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CY

PYC

YPY

CY

PYC

YPY

1313

318

4647

874

6661

165

671

1305

03N

et P

rem

ium

1265

631

1247

648

3628

3123

3888

1244

537

1125

764

5029

313

4388

068

4775

3431

34N

et E

arne

d Pr

emiu

m12

6085

712

6135

335

9871

2589

9112

4461

286

9794

4859

890

4044

934

1677

0538

018

1015

1118

4451

1176

3063

4873

1436

86To

tal I

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t Inc

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2521

2423

0452

2780

2216

4639

1022

4621

8423

4813

2939

9649

3113

3716

717

1838

833

1446

1481

6N

et C

laim

Pai

d29

2949

3324

3251

222

2746

519

6842

1312

4961

3642

035

6461

457

6353

1000

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1000

1000

4011

470

674

Net

Clo

sing

Out

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Cla

im54

9072

5340

2119

4156

1733

6111

5592

258

2843

3702

556

1723

340

5763

5313

6457

310

000

1000

7066

170

706

3670

70N

et O

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ng O

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5056

9232

7417

1733

2966

2361

1204

1082

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340

1383

787

4575

4104

810

1771

738

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71N

et In

curr

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3363

2953

9035

7204

919

4203

7415

61(3

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4)81

1563

739

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3301 41

813

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4031

8N

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curr

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-(1

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(130

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2944

2824

7703

2058

8625

4603

8800

1867

1091

4246

2713

0806

7909

310

1576

9(3

9226

17)

(474

308)

SEG

MEN

T R

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NG

FO

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31S

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AR

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201

9 IN

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N

148



SEG

MEN

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31S

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CH

201

9 IN

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(` 0

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Rev

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Acc

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Ele

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ts

Avia

tion

Engi

neer

ing

Cr G

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ntee

Mis

c TB

CY

PYC

YPY

CY

PYC

YPY

1687

360

3880

533

6775

Net

Pre

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m28

157

1142

9831

5284

829

8509

3-

-47

0777

933

4984

7

Net

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ned

Prem

ium

(854

55)

9123

326

6349

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0410

1-

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0542

933

5112

4

4153

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ncom

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6336

1556

5180

5548

7955

033

357

4592

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8970

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6060

8544

66N

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d48

4750

9865

213

1914

114

1458

4-

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9548

122

5326

4

7806

683

7063

1014

67

Net

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sing

Out

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Cla

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7855

2481

5331

2924

428

8379

3-

-36

5956

424

3806

313

8635

551

7348

710

1467

Net

Ope

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Out

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Cla

im24

8153

3342

9728

8379

934

7651

0-

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3806

322

7945

353

5045

5

7604

08N

et In

curr

ed C

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3944

5212

508

1564

587

8218

67-

-37

1698

224

1187

480

7148

3886

3737

044

640

8413

441

1878

1346

37N

et In

curr

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on(7

0982

)(3

5704

)10

9377

1178

19-

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1402

3972

9964

6867

(347

717)

1601

7511

4821

215

1716

83

3(7

5373

0)46

1345



(` 0

00’)

Rev

enue

Acc

ount

Ele

men

ts

Rur

alM

isc

NTB

Cre

dit S

heild

Cro

pC

YPY

CY

PYC

YPY

CY

PY15

4548

516

3657

364

6446

8435

8365

Net

Pre

miu

m14

6821

215

3004

517

2709

614

4371

815

5404

1446

1425

0220

838

6858

3

Net

Ear

ned

Prem

ium

1480

216

1309

366

1657

186

1357

289

1541

7314

8305

2502

208

3868

583

1358

843

8045

14To

tal I

nves

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t Inc

ome

1836

1515

9944

1891

6218

0294

2507

524

686

5083

5549

4051

1746

704

1575

6117

854

6850

8170

111

8541

7454

4N

et C

laim

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d16

5373

114

4457

567

9530

4697

5562

133

7537

538

4584

333

9953

336

6435

3101

5317

4717

3314

4701

5533

3577

4345

310

1741

Net

Clo

sing

Out

stan

ding

Cla

im35

7839

2779

1153

1862

6470

6816

4849

1521

1843

7500

639

9456

835

3770

4573

5631

0153

1447

0155

3335

7710

1741

1501

61N

et O

peni

ng O

utst

andi

ng C

laim

2779

1130

0846

6470

6865

4584

1521

1814

3558

3994

568

3845

901

178

4174

8775

876

1160

1656

Net

Incu

rred

Cla

im17

3365

914

2164

056

4325

4622

3974

864

8393

542

2628

135

4820

0

616

Net

Incu

rred

Com

mis

sion

1104

1712

8973

2967

4223

5378

(385

2)(3

611)

(869

12)

(692

577)

4567

6465

1464

(448

258)

(338

960)

6700

1059

5781

7986

968

314

(158

5570

)85

5547

SEG

MEN

T R

EPO

RTI

NG

FO

R T

HE

PER

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EN

DED

31S

T M

AR

CH

201

9 IN

DIA

N

150



SEG

MEN

T R

EPO

RTI

NG

FO

R T

HE

PER

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EN

DED

31S

T M

AR

CH

201

9 IN

DIA

N(`

000’)

Rev

enue

Acc

ount

Ele

men

ts

Oth

er M

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Tota

l Mis

cella

neou

sG

rand

Tot

alC

YPY

CY

PYC

YPY

8046

314

1376

756

4857

4816

Net

Pre

miu

m80

5849

064

6822

417

6487

200

1689

5478

418

8872

025

1809

4864

776

1486

3000

868

Net

Ear

ned

Prem

ium

7297

004

6166

084

1745

0507

315

7195

485

1858

7115

716

8827

350

4817

7551

4135

7775

7358

4414

8888

56To

tal I

nves

tmen

t Inc

ome

9724

4794

2217

3152

1386

2800

9261

3685

5597

3436

3664

6308

041

5380

073

1568

763

1887

053

Net

Cla

im P

aid

4890

875

4242

969

1383

6240

912

2016

652

1487

0389

513

0092

039

4557

613

3745

5615

7380

114

7775

1N

et C

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4714

114

3515

160

1804

7623

415

3565

058

2045

2158

517

5424

883

4557

613

4884

1514

7775

1N

et O

peni

ng O

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ng C

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3515

160

3378

441

1535

6506

513

6629

468

1754

2529

415

7073

510

4055

864

5078

3411

1550

Net

Incu

rred

Cla

im60

8982

943

7968

816

5273

577

1389

5224

217

7800

186

1484

4341

2

631

3177

3565

55

Net

Incu

rred

Com

mis

sion

1104

709

7580

3812

5899

4711

0214

7114

4240

5111

1912

6033

4466

70

(452

107)

7864

84(6

1129

88)

5020

690

(745

9441

)10

1096

71



SEG

MEN

T R

EPO

RTI

NG

FO

R T

HE

PER

IOD

EN

DED

31S

T M

AR

CH

201

9 FO

REI

GN

(` 0

00’)

Rev

enue

Acc

ount

Ele

men

ts

Fire

Mar

ine

Car

goM

arin

e H

ull

Mar

ine

Tota

lC

YPY

CY

PYC

YPY

CY

PY33

4874

7668

531

4747

4481

0738

4407

5471

187

1530

016

5366

1806

66N

et P

rem

ium

1243

1657

1101

7910

5503

6535

1134

2448

2633

1899

7951

9168

3033

1514

553

Net

Ear

ned

Prem

ium

1091

7104

1107

7012

4675

6139

3251

3513

3529

9962

8188

9569

3213

576

1830

4713

814

1674

333

450

3055

757

1860

1117

446

7To

tal I

nves

tmen

t Inc

ome

4042

3842

6264

1232

013

622

2071

016

510

3303

030

132

5768

830

1055

317

7803

3547

768

1813

5084

678

3133

5365

6176

466

456

4N

et C

laim

Pai

d88

6203

096

1908

895

430

2041

3821

8126

4398

531

3556

2481

2274

331

1380

7330

3774

4473

70N

et C

losi

ng O

utst

andi

ng C

laim

1233

4543

9258

999

3486

8225

4802

4075

8744

4404

7562

6869

9206

6468

6374

331

1133

0308

3774

4445

6845

3540

1437

6174

3885

5811

408

Net

Ope

ning

Out

stan

ding

Cla

im92

5861

211

2777

9727

4508

3206

4442

4681

3525

1269

9189

6731

5655

7754

056

3110

7853

1651

3617

6846

Net

Incu

rred

Cla

im11

9379

6176

0029

016

9604

1382

9620

1032

1358

7637

0636

2741

7274

840

7574

331

6438

6778

004

1673

517

5686

781

447

3775

456

1604

5N

et In

curr

ed C

omm

issi

on31

3475

531

3877

911

3779

8153

116

860

6348

113

0639

1450

1218

311

4400

5

(468

1133

)54

366

1553

3616

4424

1358

4295

732

2911

7826

0155



(` 0

00’)

Rev

enue

Acc

ount

Ele

men

ts

Mot

or O

DM

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TP

Mot

or T

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Hea

lthC

YPY

CY

PYC

YPY

CY

PY14

7587

3514

7587

3514

5676

1134

01

Net

Pre

miu

m13

5950

3111

2299

4511

3401

1820

3013

7084

3111

4119

7514

2920

517

1132

8

Net

Ear

ned

Prem

ium

1168

6191

1126

9749

2024

8291

015

1188

8673

1136

0764

1436

974

1482

505

463

446

6

3546

3041

8To

tal I

nves

tmen

t Inc

ome

3247

7527

9604

2491

-32

7266

2796

0429

578

1963

674

6357

674

6357

617

3033

515

0415

013

1448

1337

7830

0368

7655

5776

5557

1610

7N

et C

laim

Pai

d81

4693

868

2946

613

3778

8493

8280

716

6837

959

1730

335

1488

043

1651

574

1651

574

Net

Clo

sing

Out

stan

ding

Cla

im76

0618

762

4964

7-

-76

0618

762

4964

726

7541

2248

73

1651

574

1651

574

Net

Ope

ning

Out

stan

ding

Cla

im62

4964

653

9509

2-

-62

4964

653

9509

222

4873

1491

6517

7300

313

3778

1476

851

1476

851

1610

7N

et In

curr

ed C

laim

9503

479

7684

021

1337

7884

9396

3725

776

9251

417

7300

315

6375

1

1036

330

775

4071

015

7146

1571

46N

et In

curr

ed C

omm

issi

on30

6602

524

9942

620

412

3276

530

8643

725

3219

133

7190

3988

8584

81

(157

5307

)64

2405

4230

238

029

(153

3005

)68

0435

(750

531)

(570

749)

SEG

MEN

T R

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NG

FO

R T

HE

PER

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EN

DED

31S

T M

AR

CH

201

9 FO

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GN



SEG

MEN

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FO

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PER

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EN

DED

31S

T M

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201

9 FO

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(` 0

00’)

Rev

enue

Acc

ount

Ele

men

ts

Empl

oyer

s Li

abili

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t / P

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Lia

bilit

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ther

Lia

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Pers

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Acc

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YPY

CY

PYC

YPY

CY

PY74

0141

4667

050

080

558

1340

6670

6386

70N

et P

rem

ium

7015

0868

8416

7078

5569

5235

4261

833

778

2249

6320

3682

1155

7N

et E

arne

d Pr

emiu

m68

9952

7130

3178

5603

7057

4444

371

4403

723

7065

2145

8710

07

3473

071

037

5035

485

430

514

5070

Tota

l Inv

estm

ent I

ncom

e34

294

3047

670

144

3647

3(2

3434

)35

4650

9449

6531

6475

6871

871

843

375

1613

111

1011

066

111

Net

Cla

im P

aid

3493

7131

6491

5103

1840

6391

(172

)(1

1018

6)89

247

8195

364

757

608

476

634

110

1340

713

180

1038

Net

Clo

sing

Out

stan

ding

Cla

im90

6676

9086

0112

3632

011

0819

729

6362

2334

1696

813

8424

511

5361

608

530

335

315

6805

613

180

1038

Net

Ope

ning

Out

stan

ding

Cla

im90

8601

8355

6622

1488

210

8328

9(8

7299

1)11

2977

8424

583

482

3416

8043

1168

1154

857

1455

113

61N

et In

curr

ed C

laim

3474

4538

9526

(468

244)

4312

9911

6918

110

253

1018

1582

716

4745

648

718

3860

413

1040

847

1637

Net

Incu

rred

Com

mis

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1552

9115

4285

1575

6314

9566

9416

4584

062

388

5503

931

87

1690

4415

5344

1113

488

1165

60(1

1608

48)

(106

87)

6113

168

675

154



(` 0

00’)

Rev

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Acc

ount

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men

tsAv

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gine

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CY

PYC

YPY

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PY41

0003

7478

34

1316

5018

305

Net

Pre

miu

m11

1353

587

1939

6619

8438

5336

--

5195

8390

2012

1480

61N

et E

arne

d Pr

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m10

6568

580

1743

4529

6556

6919

--

6623

4975

3951

5764

4033

745

558

11

563

367

636

383

Tota

l Inv

estm

ent I

ncom

e39

831

2604

244

986

4225

21

127

062

1972

953

3088

8868

718

1057

1375

337

360

Net

Cla

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aid

1090

498

1132

704

9362

8152

1894

--

1573

4024

7339

8633

0330

3118

1347

380

7484

1087

3N

et C

losi

ng O

utst

andi

ng C

laim

1185

542

1019

118

1447

097

1450

760

3031

4891

3153

7889

8653

870

3767

8871

0631

8074

84N

et O

peni

ng O

utst

andi

ng C

laim

1019

118

6633

9814

5075

412

9553

231

2753

7611

4767

2570

6671

1016

510

1403

715

4176

14

1048

0714

3576

6304

76N

et In

curr

ed C

laim

1256

922

1488

424

9326

2467

7122

(1)

410

8861

3085

0465

103

1840

4581

033

5673

664

3N

et In

curr

ed C

omm

issi

on18

3402

1632

4118

5095

1502

51-

-12

3561

1119

6656

176

3886

058

113

(418

089)

(880

055)

(669

278)

(243

028)

2(4

)41

8130

2950

97

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FO

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DED

31S

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201

9 FO

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(` 0

00’)

Rev

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Acc

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Cre

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CY

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Net

Pre

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1025

2-

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Net

Ear

ned

Prem

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--

5126

5126

--

--

Tota

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-16

927

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Net

Cla

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--

286

2671

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157

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Net

Clo

sing

Out

stan

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Cla

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710

63-

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Net

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Cla

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6310

64-

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Net

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2670

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--

3778

Net

Incu

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Com

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--

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-66

0

--

5916

(195

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--

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31S

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201

9 FO

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156



(` 0

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Rev

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Acc

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Ele

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tsO

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Mis

cella

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Gra

nd T

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CY

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7478

3416

8584

774

0555

7N

et P

rem

ium

5195

8391

2264

1910

9682

1691

3953

3233

6530

2861

4896

1531

8733

3176

7N

et E

arne

d Pr

emiu

m66

7475

7590

7717

2687

6316

6484

0629

0047

6328

4186

3114

14

385

7851

1403

7To

tal I

nves

tmen

t Inc

ome

2723

219

756

5549

9046

2749

9922

5991

9145

8868

718

1057

7161

136

0N

et C

laim

Pai

d15

7626

2500

1013

1442

2110

9252

5822

3198

0720

7924

69

1087

3N

et C

losi

ng O

utst

andi

ng C

laim

4893

1853

8983

1353

1857

1181

7841

2662

2668

2177

6046

Net

Ope

ning

Out

stan

ding

Cla

im53

8704

4778

1511

8178

3410

0963

1721

7756

3522

0472

6914

037

1041

8518

0788

111

6456

0017

5533

1N

et In

curr

ed C

laim

1082

3931

1178

1485

8243

1264

6783

2716

6840

2052

1245

6510

336

4875

357

8840

336

6064

3681

665

7538

Net

Incu

rred

Com

mis

sion

1235

6111

5744

4300

342

3765

042

7565

737

7048

833

3886

058

774

1843

545

4240

4829

3137

(276

4041

)(3

9036

8)(7

1539

97)

(758

46)

SEG

MEN

T R

EPO

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NG

FO

R T

HE

PER

IOD

EN

DED

31S

T M

AR

CH

201

9 FO

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(` 0

00’)

Rev

enue

Acc

ount

Ele

men

ts

Fire

Mar

ine

Car

goM

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Mar

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Tota

lC

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CY

PYC

YPY

CY

PY38

3404

576

1664

786

554

4363

0410

7683

7N

et P

rem

ium

2117

1294

1959

9639

3434

851

3224

296

1005

527

8708

7244

4037

940

9516

731

6468

Net

Ear

ned

Prem

ium

1890

8967

1962

3390

3302

809

3302

897

8903

0847

5802

4193

117

3778

699

1678

6418

0130

3680

388

1887

3343

3383

4601

7511

8604

173

1077

0To

tal I

nves

tmen

t Inc

ome

4971

714

5965

697

3482

8944

9953

4514

7739

5150

7997

6684

5103

1373

588

8467

8

Net

Cla

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aid

1618

8520

1507

0354

2197

383

2367

525

1131

170

5047

1833

2855

328

7224

338

0080

110

1064

8075

0870

4438

7700

3630

0640

3N

et C

losi

ng O

utst

andi

ng C

laim

3270

6735

2751

4412

2123

083

1607

135

2306

345

2696

483

4429

427

4303

618

7637

105

1064

5538

1010

6475

0313

4368

636

Net

Ope

ning

Out

stan

ding

Cla

im27

5144

1227

4807

5016

2685

823

1414

526

7675

926

0009

943

0361

849

1424

440

4371

810

0488

8678

135

Net

Incu

rred

Cla

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3808

4215

1040

1626

9360

716

6051

576

0756

6011

0234

5436

322

6161

633

4104

057

0456

1718

066

1706

838

8531

7N

et In

curr

ed C

omm

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8608

328

8739

756

8886

5062

5744

529

5992

761

3415

5661

8338

6470

318

3553

1466

5481

0567

(585

0947

)42

9712

1(2

3840

8)10

4311

235

2947

6326

911

4539

1106

382

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MEN

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PER

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DED

31S

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201

9 G

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AL

158



(` 0

00’)

Rev

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Acc

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Ele

men

tsM

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OD

Mot

or T

PM

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Tot

alH

ealth

CY

PYC

YPY

CY

PYC

YPY

4635

6038

5830

8767

1456

7611

3401

6347

387

Net

Pre

miu

m41

9777

1943

0457

3355

2802

5854

7112

2897

2579

7797

7569

6172

7228

4563

8895

6070

1436

533

5847

3N

et E

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d Pr

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m42

4394

2042

3304

7055

9047

6348

4121

2798

3441

8390

7425

9669

3840

5660

5310

8711

6157

8311

5307

4010

8675

1653

8147

1436

Tota

l Inv

estm

ent I

ncom

e45

5549

642

9628

619

5452

0916

8798

0324

1007

0421

1760

9041

9112

037

3182

430

6774

8166

8500

7313

1448

1337

7830

0368

6571

031

Net

Cla

im P

aid

3411

4235

2976

8195

2868

3012

2501

6174

6279

7247

5478

4369

6835

8170

6234

6788

1563

3340

1537

7533

315

0000

1500

00

Net

Clo

sing

Out

stan

ding

Cla

im15

9767

8113

5412

1114

4718

413

1238

5908

316

0695

195

1374

0029

596

7684

289

8404

515

6333

4013

6748

6615

0000

Net

Ope

ning

Out

stan

ding

Cla

im13

5412

1111

9042

2912

3859

083

1079

7461

313

7400

295

1198

7884

289

8404

584

5947

177

3077

1013

3778

3171

8530

8701

1N

et In

curr

ed C

laim

3654

9805

3140

5177

4954

2342

4090

0644

8609

2147

7230

5821

6905

0967

6287

1362

8830

413

5513

534

5448

665

1036

330

775

4071

040

8747

1457

6767

3341

3845

58N

et In

curr

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omm

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1109

479

2153

811

6801

833

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9779

112

8251

608

4689

239

5064

107

(582

8784

)51

198

1464

8506

1484

7919

8819

721

1489

9117

(134

4018

4)(1

4431

473)

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MEN

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(` 0

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Rev

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Acc

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Ele

men

ts

Empl

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s Li

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Lia

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Lia

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Acc

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PYC

YPY

CY

PY11

0553

854

6374

155

810

5433

1058

7535

043

Net

Pre

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m19

6714

019

3606

410

7068

692

9123

1287

155

1159

542

5254

276

4591

749

Net

Ear

ned

Prem

ium

1950

808

1974

384

1145

474

9647

3512

8898

291

3831

5096

956

4259

521

1380

4416

7805

1015

1118

4451

1886

6768

3310

183

0678

1880

8611

604

156

Tota

l Inv

estm

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ncom

e28

6417

2609

2834

8166

2011

1278

811

2219

6948

6423

4046

1556

1574

6518

640

375

1635

1481

6N

et C

laim

Pai

d64

2320

6489

2356

1540

4338

5619

6670

2106

362

2566

736

4656

613

7115

460

84

3706

811

6748

3310

Net

Clo

sing

Out

stan

ding

Cla

im14

5574

814

4262

214

3047

612

8155

814

5228

581

6259

3799

370

1807

585

608

530

335

315

Net

Ope

ning

Out

stan

ding

Cla

im14

1429

311

6298

423

8821

110

8991

2(2

6178

7)11

9541

318

0758

514

6726

966

5850

8601

713

5680

638

1603

4406

10N

et In

curr

ed C

laim

6837

7492

8561

(396

195)

6255

0219

1074

2(3

5809

1)82

1745

239

8688

2

3860

4110

018

4740

743

Net

Incu

rred

Com

mis

sion

1452

9915

4285

1562

7313

6516

3038

4329

3543

2682

7530

9642

1564

63

1049

061

8264

3515

3811

424

7366

(108

1754

)10

0508

2(3

8614

86)

(405

633)

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MEN

T R

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NG

FO

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PER

IOD

EN

DED

31S

T M

AR

CH

201

9 G

LOB

AL

160



(` 0

00’)

Rev

enue

Acc

ount

Ele

men

ts

Avia

tion

Engi

neer

ing

Cr G

uara

ntee

Mis

c TB

CY

PYC

YPY

CY

PYC

YPY

1687

360

5768

568

1744

187

Net

Pre

miu

m11

4169

198

6238

3814

832

3370

429

--

5227

362

4251

859

1614

6114

6785

Net

Ear

ned

Prem

ium

9802

3089

2976

3116

459

2771

020

--

4667

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4105

074

7014

353

Tota

l Inv

estm

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6166

1816

9385

0534

8377

554

360

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5970

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6708

145

3670

1655

0164

7301

7715

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et C

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d15

7524

812

3135

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5542

319

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438

5075

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3137

7575

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et C

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ng O

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ng C

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1343

397

1267

272

4576

341

4334

553

3031

4148

695

2975

952

3130

6651

3183

113

1181

405

Net

Ope

ning

Out

stan

ding

Cla

im12

6727

299

7695

4334

553

4772

042

3127

2975

673

2756

177

3105

451

1536

401

418

6303

017

5386

5N

et In

curr

ed C

laim

1651

374

1500

932

2497

211

1498

989

(1)

438

2584

327

2037

880

7154

5638

1655

5511

8403

1013

7684

777

Net

Incu

rred

Com

mis

sion

1124

1912

7536

2944

7226

8070

--

8249

6350

9265

1660

8156

7576

7160

07

(765

806)

(719

880)

4789

3412

7414

05

(1)

(335

601)

7564

42

SEG

MEN

T R

EPO

RTI

NG

FO

R T

HE

PER

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EN

DED

31S

T M

AR

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201

9 G

LOB

AL



(` 0

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(` 0

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Rev

enue

Acc

ount

Ele

men

ts

Rur

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isc

NTB

Cre

dit S

heild

Cro

pC

YPY

CY

PYC

YPY

CY

PY15

4548

516

3657

364

6446

8435

8365

Net

Pre

miu

m14

6821

215

3004

517

2709

614

5397

015

5404

1446

1425

0220

838

6858

364

783

Net

Ear

ned

Prem

ium

1480

216

1309

366

1662

312

1362

415

1541

7314

8305

2502

208

3868

583

1358

843

8045

17To

tal I

nves

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t Inc

ome

1836

1515

9944

1893

3118

0321

2507

524

686

5083

5549

4051

1746

704

1575

6117

854

6850

8170

111

8541

7454

4N

et C

laim

Pai

d16

5373

114

4457

567

9816

4724

2662

133

7537

538

4584

333

9953

336

6435

3101

5317

4717

3314

4701

5533

4641

4345

310

1741

Net

Clo

sing

Out

stan

ding

Cla

im35

7839

2779

1153

2019

6481

3116

4849

1521

1843

7500

639

9456

835

3770

4573

5631

0153

1447

0155

3346

4134

8453

1017

4115

0161

Net

Ope

ning

Out

stan

ding

Cla

im27

7911

3008

4664

8131

6556

4815

2118

1435

5839

9456

838

4590

1

178

4174

8775

876

1160

1656

Net

Incu

rred

Cla

im17

3365

914

2164

056

3704

4649

0974

864

8393

542

2628

135

4820

0

3778

616

Net

Incu

rred

Com

mis

sion

1104

1712

8973

2967

4223

9156

(385

2)(3

611)

(869

12)

(692

577)

4567

6465

1464

(448

258)

(338

960)

6759

2659

3825

7986

968

314

(158

5570

)85

5547

SEG

MEN

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FO

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HE

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31S

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AR

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201

9 G

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AL



(` 0

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Rev

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Acc

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ts

Oth

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Tota

l Mis

cella

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al

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PYC

YPY

CY

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3556

01

Net

Pre

miu

m85

7807

473

8048

819

5596

882

1858

6873

722

1208

555

2095

6354

3

Net

Ear

ned

Prem

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7964

479

6925

160

1917

7383

617

3843

891

2148

7592

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7245

981

4818

1454

1713

5405

46 356

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9679

9619

7332

0763

7628

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8478

5535

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1055

6113

017

8361

738

3103

346

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aid

5048

501

4492

979

1515

0662

913

2941

910

1710

2370

215

0884

508

6134

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3358

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432

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2311

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319

7200

929

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8853

314

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256

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8290

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0092

917

9120

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5755

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1753

1584

318

6808

1373

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3673

6586

5138

5860

Net

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Cla

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9806

846

9086

618

0131

821

1515

9902

520

4967

026

1689

6465

810

4114

5

Net

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rred

Com

mis

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1228

270

8737

8316

8902

9014

7865

1221

9897

8718

2400

9315

6588

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3040

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(280

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Shar

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ders

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rs’ F

unds

Bas

is o

f Allo

catio

n of

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ents

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ars

As

at 3

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/201

9 `

(000’)

`

’

1

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4

5

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:

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14

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Ass

ets

5866

0956

59

0215

90

O

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Lia

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ies

Net

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:(2

0722

608)

(1

9765

509)

Tota

l Net

Pol

icyh

olde

rs F

unds

3167

7195

666

.77%

2776

3659

264

.30%

Shar

e H

olde

rs F

unds

To

tal

1594

5134

3

1568

9220

1

Le

ss :

1834

700

To

tal N

et S

hare

Hol

ders

Fun

d15

7616

643

33.2

3%15

4122

881

35.7

0%

Tota

l Fun

ds47

4388

599

100.

00%

4317

5947

310

0.00

%

164



16 A. SIGNIFICANT ACCOUNTING POLICIES

1. Accounting Convention

2. Use of Estimates

3. Revenue Recognition

A. Premium

B. Commission

4. Premium Received in Advance

5. Reserves for Un-expired Risk/s

6. Reinsurance Accepted

7. Reinsurance Ceded

9. Acquisition Costs

10. Incurred Claims

Schedule 16



11. Salvage and Claim Recoveries

12. Receipt and Payment Account (Cash Flow Statement)

13. Property, Plant and Equipment

A) Property, Plant and Equipment (PPE)

B) Depreciation

14. Foreign Currency Transactions

166



15. Loans and Investments



17. Segment Reporting:

168



18. Related Party Disclosure:

19. Operating lease:

20. Earning per Share (EPS):

21. Taxation.

22. Intangible Assets

23. Impairment of Assets:

24. Provisions, Contingent Liabilities and Contingent Assets

25. Expenses of Management-Basis of Apportionment

26. Segregation of Policy Holders and Share Holders funds:

27. Income from Investments -Basis of Apportionment



16 B. NOTES FORMING PART OF FINANCIAL STATEMENTS AS ON MARCH 31, 2019

1. Unearned Premium Reserve (UPR):

``

` `

2. Reinsurance Acceptance Transactions:

4. Unamortized Gratuity and Pension liability as per IRDA approval:

` `

`

``

``

``

5. Taxation:

` `

`

170



Current Year (` in Lakhs)

`

` `

(6) Statutory Reserves relating to Foreign Branches:

` `

(7) Title deeds of immovable properties:

`

` `

` `

` `

` `

` `

` `


9. Updation of Fixed Assets Register:

10. Investments:

` `



Sr. No. Particulars Current Year

(` in Lakhs)

`

Total Nil Nil


(` in Lakhs)

`


(` in Lakhs)

`

16101.87

` `

`

` `

`



11. Reinsurance, Coinsurance,

` `` ` ` `

` ` ` `

` `

`

`

`

Particulars 2018-19 2017-18 2016-17 Prior to 2016-17 Total355573.54 86373.10

`

Ageing PSU Private Total

15787.567354.77

1858.34Total 26437.88 1811.81 28249.69

` `

` `

12. Agents balance receivable in case of Curacao Branch: ` `

` `

` `



13. Amount receivable under Bhamashah Health Insurance Scheme: ` `

14. Receipts & Payments Account:

15. Foreign Exchange Reserve Account:

` `

`

Sr. No.

Particulars Current Year Previous YearDebit Credit Debit Credit

1 14584.04Total - 16746.19 - 14584.04

`

DescriptionFor the Year Ended

31.03.2019 31.03.2018

`

Components of employer expenseFunded Unfunded

Pension Gratuity EncashmentC.Y. P.Y. C.Y. P.Y. C.Y. P.Y.

I. Total expense recognized in the

Account1613 1011 1066

B 5011

E

784345

74246 34231 25227 8612 7036 8242

II. Actual Returns for the year 2018-19 8611III. Net Asset/(Liability) recognized in

Balance Sheet at 31.03.2019347643 137341 67014 66513

B 314304 335006 111387

345E

174



`

Components of employer expenseFunded Unfunded


IV.Obligation during the year

347643 137341 66513

B 1613 1011 10665011

E

8715 784

K 347643 67014 66513

V Change in Fair Value of Plan Asset during the year

335006

B

E 18661 30576

314304 335006 111387

VI. Transitional Provisions

VII. Actuarial Assumptions

B

VIII. Major Category of Plan Assets as % of the Total Plan Assets as at 31.03.2019

B

IX. Basis used to determine the expected rate of return on plan assets




A) List of Related Parties:

I) Reporting Enterprise:

II) Subsidiaries:

III) Associates:

IV) Key management personnel of the Company: -

Name of person Role/Designation From / Upto

176



B) Transactions with related parties:

Sr. No.

Nature of Relationship Nature of Transaction Current Year (` in Lakhs)

Previous Year (` in Lakhs)

51.18 48.78

351.45

74.78

465.87

1187.50

371.11

18. Lease:

` `

19. Earnings Per Share:

Particulars Current Year Previous Year16480000001648000000 1633403000

` 5 ` 5`

` ` 13.47



20. Corporate Social Responsibilities (CSR):` `

` ` ` ` 1680.10 `

21. Books maintained on Calendar year:

22. Unaudited accounts of Foreign branches:

23. Analysis of Unclaimed amounts of Policyholders:` `

`

Particulars Total Amount

1-6 Months

7-12 Months

13-18 Months

19-24 Months

25-30 Months

31-36 Months

Beyond 36 Months

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

847.10 587.35 836.85

3550.64 76.80

Total 15899.86 985.82 1031.09 996.84 913.09 664.15 999.53 10309.34

` ` ` `

24. Prior period items and Credit balance written back:

` ` ` `

`

Sr. No.

Particulars Current Year Previous YearDebit Amount Credit Amount Debit Amount Credit Amount

1

3 473.304 65.15 618.085

Total 4010.60 105.08 618.08 2585.30

178



25. Liability under Micro, Small and Medium Enterprise Development Act, 2006:

26. Penalty:

No. Authority Non-Compliance/ Violation

In Lakhs

Penalty Awarded

Penalty Paid

Penalty Waived/ Reduced

1

345

6

7

8 4.64

10

Note 1:

Note 2: ` `

`

27.

28. Fraud Monitoring Cell:

` `



29. Final Dividend of Financial Year 2017-18:` `

` `

30. Proposed Dividend for current year: `

`

31.

180



16 C. Disclosures Forming Part of Financial Statements`

Sr. No Particulars Current Year Previous Year1

6211.46 -

2282.07 1747.65 8684.51

375698.37 -

1767.41 78.55 1540.41

5940.37 6317.33

- 3 4000.17 4

1487038.95 225607.26

5 - 6 1105098.93 153595.00 151563.00 300387.27 155938.00 133157.00 1405486.20 309533.00 7

1888720.25 323365.30

8 5368.54 - -

-

- 10

- 83205.07

11

934671.90 21788.09 956459.99

1314

15



16 Sector-wise break-up of gross direct premium written in India is as under:

Sector Current Year Previous Year` in Lakhs Percentage Number of

Policies/lives` in Lakhs Percentage Number of

Policies/lives416103.41 17.40 18.40

5.06 7.48 441716063

1630607.04 65.85 Total 2391015.92 100.00 2271876.11 100.00

17 Performance Ratios

i) Gross Premium Growth Rates :

SEGMENTGross Direct Premium (` in Lakhs) Growth Rate (%)

Current Year Previous Year Current Year Previous YearIndian Foreign Global Indian Foreign Global Indian Foreign Global Indian Foreign Global

Fire 222474.97 75245.96 297720.93 208256.59 65973.98 274230.57 6.83 14.05 8.57 14.16 (9.28) 7.48 3348.74 38340.45 10.76

766.85 184.56 30.75

Marine Total 70888.97 5277.50 76166.47 60000.91 4115.59 64116.50 18.15 28.23 18.79 (1.64) (23.86) (3.45)884667.84 147587.35 15.05 1.53 17.08

54637.41 46478.74 13.18 5.77

16873.60 16873.60 34.30 34.30

57685.68 18.68

17.77 17.60 36.50

15171.03 57771.68 15074.85 0.64 10.35 5.65 13.57

64.37 64.37

4100.03 80463.14 7478.34 11.53

Misc sub Total 2097651.98 189259.71 2286911.69 2003618.61 173965.31 2177583.92 4.69 8.79 5.02 20.12 2.22 18.46 Grand Total 2391015.92 269783.17 2660799.09 2271876.11 244054.88 2515930.99 5.24 10.54 5.76 18.85 (1.72) 16.49

ii) Gross Direct Premium to Net Worth Ratio:

`

Current Year

1576166.43Gross Direct Premium to Net Worth Ratio (Times) (a/b) 1.69 1.63

iii) Growth Rate of Net Worth:

`

Current Year Previous Year Growth (CY) Growth (PY) Growth % (CY) Growth % (PY)1576166.43



iv) Net Retention Ratio : Indian

SegmentCurrent Year (` in Lakhs) Previous Year (` in Lakhs)

Gross Written Premium

Net Written Premium

Net Retention Ratio (%)


Net Written Premium


Fire 231000.64 87396.37 37.83 217328.58 85817.29 39.4973.10 35160.66

7607.01Marine Total 71322.45 36451.87 51.11 60519.88 34121.34 56.38

884667.8453066.83 46574.61 43880.68

1.64

86.3864.38

38685.83

Misc sub Total 2101221.77 1764872.00 83.99 2017386.17 1689547.84 83.75Grand Total 2403544.86 1888720.25 78.58 2295234.63 1809486.47 78.84

Net Retention Ratio : Foreign



Net Written Premium



Net Written Premium


Fire 179028.44 124316.57 69.44 161421.09 110179.10 68.265656.65 5503.65 4045.34 3511.34 86.80

Marine Total 9758.57 7951.91 81.49 7959.66 6830.33 85.81137084.31 131554.74 86.75

11135.3574.70 3853.36 60.00

100.00 100.00

6155.04Misc sub Total 209378.57 191096.82 91.27 190823.78 169139.53 88.64Grand Total 398165.58 323365.30 81.21 360204.53 286148.96 79.44



Net Retention Ratio: Global



Net Written Premium



Net Written Premium


Fire 410029.08 211712.94 51.63 378749.67 195996.39 51.7545116.88 34348.51 76.13

Marine Total 81081.02 44403.79 54.76 68479.54 40951.67 59.801041043.48

55387.0838.51 45.13

86.61

38685.8385780.74 78.35 73804.88 80.66


v) Net Commission Ratio to Net Written Premium

SEGMENTNet Commission (` in Lakhs) Net Commission Ratio (%)


Fire 13513.28 31347.55 44860.83 (2513.82) 31387.79 28873.97 15.46 25.22 21.19 (2.93) 28.49 14.734551.07 5688.86 815.31 15.78 16.56 14.78 15.70

168.60 634.81 3.64 4.43 6.88Marine Total 4827.75 1306.39 6134.15 4211.72 1450.12 5661.84 13.24 16.43 13.81 12.34 21.23 13.83

30864.37 8.01 10.05 8.445.11 5.80 6.74

16.473.47

50641.07 6.10 6.45 7.506054.15 5843.44 14.00

7580.38 1157.44 13.71 11.84Misc sub Total 125899.47 43003.42 168902.90 110214.70 37650.42 147865.12 7.13 22.50 8.64 6.52 22.26 7.96Grand Total 144240.51 75657.37 219897.87 111912.60 70488.33 182400.93 7.64 23.40 9.94 6.18 24.63 8.70

184



vi) Expense of Management to Gross Direct Premium Ratio:

`

Particulars Current Year Previous Year

403804.00

Expense of Management to Gross Direct Premium Ratio (%) ((b+c)/a) 23.82 22.40

vii) Expense of Management to Net Written Premium Ratio:

`


403804.00

Expense of Management to Net Written Premium Ratio (%) ((b+c)/a) 28.65 26.89

viii) Net Incurred Claims to Net Earned Premium:

`


Net Incurred Claims to Net Earned Premium Ratio (%) (b/a) 95.39 85.66

ix) Combined Ratio:

`

ParticularsCurrent Year Previous Year

Indian Foreign Global Indian Foreign Global1858711.571778001.86

403804.00 334466.70 18435.4575657.37 70488.33

Combined Ratio (%) (b/a) + ((d+e)/c) 123.39 124.54 123.58 112.60 103.29 111.21

x) Technical Reserves to Net Premium Ratio:

`


1063503.10

Technical Reserves to Net Premium Ratio (Times) (e/a) 1.53 1.42



xi) Underwriting Balance Ratio:

`

SegmentCurrent Year Previous Year

Net Earned Premium

Underwriting UW Balance Ratio (Times)

Net Earned Premium


Fire 189089.67 (108226.61) (0.57) 196233.90 (16685.76) (0.09)0.18

Marine Total 41931.17 (6852.27) (0.16) 37786.99 2612.79 0.07

4363.85 0.16605310.87

0.18 0.3638685.83

1176.48Misc sub Total 1917738.36 (409534.05) (0.21) 1738438.93 (238416.88) (0.14)Grand Total 2148759.20 (524612.93) (0.24) 1972459.82 (252489.85) (0.13)

`


378478.55

(6.80) 5.09

xiii) Liquid Assets to Liabilities Ratio:

`


d. Total Liquid Assets (a+b+c) 1220108.46 1059934.14e. Policy Holders Liabilities 3374945.64 2974021.01Liquid Assets to Liabilities Ratio (Times) (d/e) 0.36 0.36

xiv) Net Earnings Ratio:

`


Net Earnings Ratio (%) (b/a) 2.62 10.50

186



xv) Return on Net Worth Ratio:

`

Particulars Current Year Previous Year1576166.43

Return on Net Worth Ratio (%) (b/a) 3.68 14.28

xvi) Available Solvency Margin (ASM) to Required Solvency Margin (RSM) Ratio

`

Particulars Current Year Previous Year1373886.51

ASM to RSM Ratio (Times) (a/b) 2.13 2.58

xvii) NPA Ratio

`


Gross NPA Ratio (%) 0.55 0.26Net NPA Ratio (%) 0.15



18 Summary of Financial Statements

`

No Particulars 2018-19 2017-18 2016-2017 2015-2016 2014-20151 1776331.01

1781478.053 378478.55456 140374.567 403804.00 306060.018 1314118.64 1118803.56

77613.6110 (146134.38) 100338.27 (55695.52) (43507.97) 37227.12 Non Operating Result 11 134063.07

64486.83 116385.7413 6508.05 7686.61 34507.3414 Miscellaneous 15 1681833.14 15.50 15.30 15.40 14.61 15.68

16 1576166.43 15.50 15.30 15.40 14.61 15.68

1718 1576166.43

15.50 15.30 15.40 14.61 15.68` 50.40 41.43 71.56

` 187.04 551.16 486.1131000.00 30000.00

` 5.00 3.75 15.50 15.00

188



19 Age wise analysis of outstanding claims as on 31.03.2019 (Gross Indian excluding provision for IBNR and IBNER)

Segment

Less than 90 Days

Above 90 Days to 6 months

Above 6 months to 1 year

Above 1 Year to 2 years

No. Amount (` In Lakhs) No. Amount

(` In Lakhs) No. Amount (` In Lakhs) No. Amount

(` In Lakhs)557 44101.76 446 37164.34 140613.67

447 81 733.45 53 8310.38 43

6003 8567.68 7500 38466.56 7740

614.81 5051 1067.71 355 185

600 117 351.35 5 30 5840.68

4750.71 436 14517.64 13333.18 11843.30 314 5668.18

Total 134587 176862.64 21351 123524.63 30243 297222.12 32148 303693.30

Segment

Above 2 Years to 3 years

Above 3 years to 5 Years

5 Years and above Total



(` In Lakhs)161 8830.37 616 44070.36 3317 67 877.00 104 37 60 1010.83 31010.35

444 631 1710.63

344 310 86630 344 1313.80 818

74 68 3511 5 7 11

48 567.18 51715.86

Total 22563 163222.25 25670 143959.13 42971 197002.13 309533.00 1405486.20


Atul Sahai

For NBS & Co. Mukund M. Chitale & Co.




CONSOLIDATED REPORTS & SCHEDULES FOR THE FINANCIAL YEAR ENDED 31ST MARCH 2019

190



``500

Age-wise Summary of Claims settled during the years 2014-15 to 2018-19

Age band No. of Claims Amount (` in Lakhs)

380106

Grand Total 17559144 6603837

No. Name Entity in which he is interested

Interested as

Amount of payments during the

(` In lakhs)

Management Report on Consolidated Financial Statements



Jayashree Nair S.N.Rajeswari Atul Sahai



NBS & Co. Mukund M.Chitale & Co.Chartered Accountants Chartered Accountants14/2, Western India House, 2nd Floor, Kapur House,Sir P.M. Road, Paranjpee Scheme B Road No. 1,Fort, Vile Parle (East)Mumbai 400001 Mumbai – 400057

INDEPENDENT AUDITOR’S REPORT

Report on the Audit of the Consolidated Financial Statements



III. Emphasis of Matter

`

`

`

`

IV. Key Audit Matters

194



Sr. No.

Key Audit Matters Auditor’s Response

1.

`

` `



V. Information other than the Consolidated Financial Statements and Auditor’s report thereon

VI. Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements

VII. Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements

196



VIII. Other Matters

`

`

`

of `

` ` `

`

IX. Report on Other Legal and Regulatory Requirements

198



For NBS & Co

Devdas Bhat

For Mukund M. Chitale& Co

Abhay. V. Kamat



Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013

THE NEW INDIA ASSURANCE CO LTD

Management’s Responsibility for Internal Financial Controls

Auditors’ Responsibility

Annexure A to the Independent Auditors’ Report of even date on the Consolidated Financial Statements of The New India Assurance Company Limited

Meaning of Internal Financial Controls Over Financial Reporting

Inherent Limitations of Internal Financial Controls over Financial Reporting



Other Matter

For NBS & Co

Devdas Bhat

For Mukund M. Chitale& Co

Abhay. V. Kamat



Sr No.

Directions under Section 143(5) of Companies Act 2013

Action taken and Financial Impact

1

3

Additional directions issued by C&AG of India as applicable to The New India Assurance Company Limited for the year 2018-19

1

``

`

Annexure “B” Referred to in Para IX (o) in report on other Legal and Regulatory matters referred to in ours Statutory audit Report of even date for the year 2018-19 on the Consolidated Accounts of The New India Assurance Company Limited



3

`

`

Particulars 2018-19 2017-18 2016-17 Prior to 2016-17

Total

`

`Aging PSU Private Total

Total 26437.88 1811.81 28249.69`

`

` ``

`` `

`

`



`` `

5

For NBS & Co

Devdas Bhat


Abhay. V. Kamat



COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA UNDER SECTION 143(6)(b) READ WITH SECTION 129(4) OF THE COMPANIES ACT, 2013 ON THE CONSOLIDATED FINANCIAL STATEMENTS OF THE NEW INDIA ASSURANCE COMPANY LIMITED FOR THE YEAR ENDED 31 MARCH 2019

Further, section 139(5) and 143(6)(b) of the Act are not applicable to The New India Assurance Company (Trinidad & Tobago) Limited, Prestige Assurance Plc Nigeria, The New India Assurance Co. (Sierra Leone) and India International Insurance Pte. Ltd., Singapore, being entities incorporated in foreign countries under the respective laws for appointment of their Statutory Auditor nor for conduct of supplementary audit. Accordingly, Comptroller and Auditor General of India has neither appointed the Statutory Auditors nor conducted the supplementary audit of these companies.

Balance Sheet – Application of Funds Provisions – Schedule 14 – Reserves for Bad and Doubtful Debts – ` 406.96 crore

`

` 1

`

`

1` ` ``

REPLY TO COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA

`

`



Consolidated Fire Insurance Revenue Account for the year ended 31st March, 2019


31-03-2019(` 000’)

`

1 19066644 196397052396477

--

2735323 3706778Total (A) 24198444

21403241 153155193 44628964 3946688 3331788

--

118604 1930Total (B) 29931429

(5732985)

5732985--

Total -16


Atul Sahai





Consolidated Marine Insurance Revenue Account for the year ended 31st March, 2019


31-03-2019(` 000’)

`

1 4303450385587

--

450619Total (A) 5139656 4688661

34940293 615236 5686384 862984 738449

-19079

Total (B) 4991328148328 1167043

(148328)--

Total -

16


Atul Sahai





Consolidated Miscellaneous Insurance Revenue Account for the year ended 31st March, 2019


31-03-2019(` 000’)

`

1 19274648315459921

--

17420262Total (A) 225626666

1805896153 170281614 36072040

--

765209 10940Total (B) 234455025 198786456

(8828359)

8828359--

Total-

16


Atul Sahai






31-03-2019(` 000’)

`

(5732985)148328 1167043

(8828359)

1150974310126999 7476103

-423793

- Total (A)=1+2+3 7647519

46748 11416454470

---

27595 6363296843 135087

237148946 15991

464 Total (B)=(4+5) 877437 194640

6770082736263(13929) 165534

6047748(51704)

51018

- 976658---

(6047062)---

` 3.67

16


Atul Sahai





Consolidated Balance Sheet as at 31st March, 2019

Particulars ScheduleAs at

31-03-2019(` 000’)

`

82400006 156970006 157477849

75894921 84806307147592213

7 -

348278Total A 389045418

5980055559 280795210 6052248 5933543

2068650

11 9708808298005935 91368944

Sub Total(a+b) 195094017 183186068

13 29890236214 117915342

Sub Total(c+d) 416817704(221723687)

15 1834700

Total B 38904541816


Atul Sahai





Consolidated Schedule 1 - Premium Earned for the year ended 31st March, 2019

Particulars

For the Year ended 31-03-2019

(` 000’)

`

Schedule 1 - FirePremium Earned(Net)

222474968312306 7348454

Total 305598021120607520422535213433422276698

Total Premium Earned (Net) 19066644 19639705Schedule 1 - MarinePremium Earned(Net)

7088897 6000091716127

Total 7805024 6561417488975 434179

37557274538272 4181611

234822 344091Total Premium Earned (Net) 4303450

Schedule 1 - MiscellaneousPremium Earned (Net)

20976519820052755

Total 2298179532377050 3064965

35622990 35061090196572013 186839937

3825530Total Premium Earned (Net) 192746483



Consolidated Schedule 2 - Claims Incurred for the year ended 31st March, 2019

Particulars


(` 000’)

`

Schedule 2 - FireClaims Incurred (Net)

22427111 195313307291551

1359068916127973 155815163310223827805436

(21534)Total Incurred Claims (Net) 21403241 15315519

Schedule 2 - MarineClaims Incurred (Net)

6271207392714

327390333900184484841 43036394342336(38494)

Total Incurred Claims (Net) 3494029

Schedule 2 - MiscellaneousClaims Incurred (Net)

1791697253084721

30012128152242318 133865514194526769 165961300165922148

(257324)Total Incurred Claims (Net) 180589615



Consolidated Schedule 3- Commission for the year ended 31st March, 2019

Particulars


(` 000’)

`

Schedule 3- FireCommission (Net)

3601683 34651091709803 1699784

848590Commission (Net) 4462896


978086109591 133010

1136 709Total Commission 3601683 3465109

Schedule 3- MarineCommission (Net)

75679260869 90710

202425Commission (Net) 615236 568638

Break-up of Commission Direct363642 346387392700

450 518-

Total Commission 756792

Schedule 3- MiscellaneousCommission (Net)

18967609407420 636196

2346868Commission (Net) 17028161


2720335338337

2669959 1160113Total Commission 18967609



Consolidated Schedules for the year ended 31st March, 2019

Particulars


(` 000’)

`

Schedule - 4Operating Expenses Related To Insurance Business

29190682707820170951 330773

1400926 1375738691646388231283125 306904950115 773477131301

-

-

-

-

724809 644530110316 90080169146

150330467296

-

-

2623111 1989866896555 744886872378

Total 408817123946688 3331788

862984 73844936072040

Total 40881712



Consolidated Schedules as at 31st March, 2019

ParticularsAs at

31-03-2019(` 000’)

`

Schedule - 5Share Capital

` ` 5 each 10000000 6000000

` ` 5 each 8240000

` ` 5 each 8240000

` ` 5 each 8240000

Total 8240000

Note :

SCHEDULE 5A

Pattern of Shareholding

Share holderAs at 31-03-2019

Numbers % of Holding1408000 85.44 704000

- -240000 14.56

Total 1648000 100.00




ParticularsAs at

31-03-2019(` 000’)

`

Schedule 6Reserves and Surplus

575 575--

575 575-

18962416126386686

6047062 19156451

-

(4767560)

-

(4120000)(4966879)

5502908124082217

16394

107008221674793 1458506

(8160)12367455

1427350113772

(173)1540949

-Total 156970006 157477849

Schedule 7Borrowings

----

Total -



ParticularsAs at

31-03-2019(` 000’)

`

Schedule 8Long term investments1. Government Securities and Government Guaranteed Bonds including Treasury Bills 70318519 64339757

-

87458997330

325465-

8542053463311

--

16741473 1965741617796377 10134180

Total 201646524

Short Term Investments3258873

-

----

1617894 1586487---

3453488441937 1110

Total 8772192 5877416




ParticularsAs at

31-03-2019(` 000’)

`Schedule 8-AInvestments - PolicyholdersLong term investments

127951074 101489977-

170586886

644635087

15438227 17039159-

2365158432205948

Total 370469450Short Term Investments

6359119-

---

3157034862361 1877

6738875Total 17117389 9858439

Grand Total 387586839 346078798

58621445911791096


30136 30136

761489` `

` ` ` `

Provision made for bad and doubtful debts shown under Schedule 14.5 against assets in Schedule 8

97013148671 146891

143646417415467 14017

1535 1535

Total 1622307




ParticularsAs at

31-03-2019(` 000’)

`Schedule 9Loans

-2208280

-13303

---

357672 936933228697 178850

Total 2807952

357672 936933---

2450280-

Total 2807952

3576722436976

13304 70-

--

Total 2807952

72489

285183 879730-

2450280Total 2807952

` `` ` ` `

Assets in Schedule 9 for current year are shown after netting of following provisions18115 18115

400 400363050 366485

83368 833681436

16573 16573- 4

2932Total 485874 489669



Cons

olid

ated

Sch

edul

es a

s at

31s

t Mar

ch, 2

019

Sche

dule

10

Fixe

d A

sset

s `

Parti

cula

rs

Gro

ss B

lock

Depr

ecia

tion

Fund

Net B

lock

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ning

Ba

lanc

eAd

ditio

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letio

ns /

Adju

stm

ents

* Clo

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Ba

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Addi

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/ Ad

just

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t* C

losi

ng

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nce

Clos

ing

Ope

ning

01-0

4-20

18Du

ring

2018

-201

931

-03-

2019

01-0

4-20

18Du

ring

2018

-201

931

-03-

2019

31-0

3-20

1901

-04-

2018

1585

1715

5580

1555

8015

8517

1009

615

7775

871

5810

9961

74

7998

4979

9849

1953

814

6963

3887

9770

8910

1031

910

5596

7

7899

0899

677

8979

0955

1837

5963

0430

1605

5776

030

1008

038

991

1087

839

1583

556

4135

1417

0775

419

5390

1637

0810

1053

6

9374

7855

1860

9

4197

7387

1546

4317

7560

1439

48

3317

7310

6666

4461

7144

6171

3317

73

Gra

nd T

otal

1286

1914

1224

451

3972

4213

6861

8669

2837

189

3008

1874

4176

3393

860

5224

859

3354

3

1076

3911

7459

5959

3354

3




ParticularsAs at

31-03-2019(` 000’)

`

Schedule 11Cash and Bank Balances

1831541 1980839

23834075 151493984985486810908630 10648704

-10658968 16774443

Total 97088082Cash and Bank Balances In India 39896484Cash and Bank Balances Outside India 57191598 54085045

Total 97088082-

9633308 9341879Provision made for bad and doubtful debts shown under Schedule 14.5 against assets in Schedule 11

132138 113049Total 132138 113049




ParticularsAs at

31-03-2019(` 000’)

`Schedule 12Advances and Other Assets

356167 536085-

242144-

6260498

468692Total (A) 7327501 3667518

10081532 90097841111996464206651334359

46208336 33886774--

3927 1153976010495 678551877408951700000 1380000

58261 78140Total (B) 90678434

Total (A+B) 98005935 91368944` `

Provision made for Bad and doubtful debts shown under Schedule 14.5 against assets in Schedule 12

93984 93984946978 946978

494 494275206 67996187893 161335

11403 1036811207 11039

20000072675 115349

55564918554 18554

31 313851 38511016 956

2Total 2378944 1916433




ParticularsAs at

31-03-2019(` 000’)

`

Schedule 13Current Liabilities

204273612119833

396753 3496935512588 1934671

18409236 1595569015716575 78790689664609 5553750

-

232113849-

1157725960774274148 344015355064177226 78140

1246 376Total 298902362

Schedule 14Provisions

107080512 100873694-

85 111--

4069555 333443163835

-

6701355 6651300Total 117915342

Schedule 15Miscellaneous Expenditure

-

1834700

Total 1834700



Consolidated Receipts & Payments Account / Cash Flow Statement for the period from 01/04/2018 to 31/03/2019

Particulars Current Year(` 000’) `

A. Cash Flows from the operating activities:323128967

218042(22654410)(16729396)

(210257931)(23128575)(30970900)

-7332

(4556516)(28882839)

486129(13340097)

- (13340097)

(1216358)195039 407014

(51179886)-

44049432579261

31019275-

(550926)22895837

(3076)-

(12686)(4966188)

225500(4756450)

D. Effect of foreign exchange rates on cash and cash equivalents, net 471669

E. Net increase in cash and cash equivalents: 5270959 105598409181712497088083


Atul Sahai





(` 0

00’)

Rev

enue

Acc

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'000

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3532

745

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527

4538

272

4279

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5528

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1691

7272

8921

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1906

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144

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2626

1855

9059

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1685

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636

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4514

7781

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1954

5209

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3719

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3660

8914

3068

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7861

5597

8467

830

9845

1665

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3778

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1610

6439

2220

353

1131

170

3351

524

3450

6958

2868

5724

6319

2683

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8170

4894

4486

3800

801

6478

489

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4044

1537

7533

317

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8075

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3147

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7046

6135

7619

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1022

3821

7849

723

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544

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116

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4718

413

1610

7239

396

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246

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7010

1064

7967

4489

7808

1500

0031

3848

9875

0517

4368

636

5119

154

1068

5149

1193

178

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2780

5436

1665

577

2676

759

4342

336

1398

6444

1238

5908

313

7845

527

8984

045

4011

1750

7950

7595

1890

8450

9693

1704

9413

3778

1385

5948

3313

6411

6318

434

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130

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2140

3241

2733

273

7607

5634

9402

936

8744

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5450

5486

4195

4869

0509

6736

0168

363

9843

1169

4989

5960

455

1350

417

1789

361

871

1035

930

771

8566

7991

645

1457

6737

6055

Net

Incu

rred

Com

mis

sion

4462

896

5707

0844

529

6152

3687

3967

611

6801

999

0769

546

8920

839

4668

867

9431

1835

5318

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60

(573

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2947

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28(5

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(` 0

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538

5553

190

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360

5869

770

6763

608

190

191

8173

356

7417

1054

3335

043

1514

868

1764

717

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1984

697

1070

686

1299

111

5329

628

1141

691

3847

713

-52

4308

514

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1614

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1199

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6973

811

4547

413

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551

6716

398

0230

3139

393

-46

8188

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101

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213

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331

5898

337

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110

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7524

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3033

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138

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730

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558

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231

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5986

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131

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134

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5634

915

3640

138

1665

1890

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(396

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1922

796

8285

675

1651

374

2529

587

(1)

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7330

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2779

4111

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2082

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(327

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Net P

rem

ium

1468

212

1728

967

1554

0425

0220

885

9566

719

6572

013

2224

5362

964

783

6337

050

Net E

arne

d Pr

emiu

m14

8021

616

6418

315

4173

2502

208

7980

459

1927

4648

321

6116

579

8849

748

1833

9949

913

588

5444

5043

8045

1759

8To

tal I

nves

tmen

t Inc

ome

1836

1518

9331

2507

550

8355

1002

435

3211

4974

3794

5295

1746

704

1575

6164

1419

654

6850

1796

4031

0334

610

9659

9796

0113

915

3950

347

0737

30Ne

t Cla

im P

aid

1653

731

6800

4162

133

3845

843

5054

333

1519

8499

517

1442

957

3664

3517

4717

3366

5416

161

3408

4876

769

4345

336

5417

57Ne

t Clo

sing

Out

satn

ding

Cla

im35

7839

5320

1916

4849

4375

006

5211

294

1945

2677

023

2113

849

3101

5314

4701

5519

0995

306

3346

4174

3739

6415

7547

1654

947

099

1017

41Ne

t Ope

ning

Out

satn

ding

Cla

im27

7911

6481

3115

2118

3994

568

4066

076

1659

2214

819

8069

920

7368

6815

9017

1181

5163

713

7305

5513

5794

1160

1656

5180

1934

Net I

ncur

red

Clai

m17

3365

956

3929

7486

442

2628

161

9955

118

0589

615

2054

8688

631

6698

4594

314

1103

118

9676

096

4084

7311

591

1995

6Ne

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mm

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on11

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852)

(869

12)

1228

302

1702

8161

2210

6293

4567

6415

7478

140

8817

13

(448

258)

6765

6979

869

(158

5570

)(1

9739

)(8

8283

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(144

1301

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CO

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16 A. SIGNIFICANT ACCOUNTING POLICIES

1. Principles of Consolidation:

Schedule 16



S. No.

Name of the company Ownership % Country of incorporation

Subsidiaries1

3

Associates4

5

2. Accounting Convention

3. Use of Estimates

4. Revenue Recognition A. Premium

B. Commission



5. Premium Received in Advance

6. Reserves for Un-expired Risk/s

7. Reinsurance Accepted

8. Reinsurance Ceded

10. Acquisition Costs

11. Incurred Claims

12. Salvage and Claim Recoveries

13. Receipt and Payment Account (Cash Flow Statement)

14. Property, Plant and Equipment

A) Property, Plant and Equipment (PPE)

B) Depreciation



15. Foreign Currency Transactions

a) Reinsurance operations:

b) Foreign operations:

16. Loans and Investments



`

`





20. Operating lease:

21. Earning per Share (EPS):

22. Taxation.

23. Intangible Assets




25. Provisions, Contingent Liabilities and Contingent Assets

26. Expenses of Management-Basis of Apportionment

27. Segregation of Policy Holders and Share Holders funds:

28. Income from Investments -Basis of Apportionment



Name of the Entities Net Worth

Percentage of Net Assets

Amount (` In 000’)

Percentage of Amount (` In 000’)

Holding Company

157616643 5797878

Subsidiaries Companies

1687701

71134

Associates

Total 100.00 164299264 100.00 6054538

Summary of Position

163950986

51704

Total 164299264 6054538

2. Books maintained on Calendar year:

3. Going concern:

4. Unearned Premium Reserve (UPR):

`` `

`

5. Reinsurance Acceptance Transactions:

16 B. NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS AS ON MARCH 31, 2019



7. Unamortized Gratuity and Pension liability as per IRDA approval:

` `

`

`

`

``

`

`

8. Taxation:

` `

`

Particulars Current Year (` in Lakhs)


Total 20686.50 20711.25



` `

9. Statutory Reserves:

` `

` `

10. Title deeds of immovable properties:

`

` `

` `

` `

` `

` `

` `


12. Updation of Fixed Assets Register:

13. Investments:

` `




(` in Lakhs)Previous Year (` in Lakhs)

Total Nil Nil





(f) Investment in IL&FS Group:

` `

`

` `

`



` ` ` `

` ` ` ` `

`

` `

`

`

`

Particulars 2018-19 2017-18 2016-17 Prior to 2016-17 Total

`

Ageing PSU Private Total

Total 26437.88 1811.81 28249.69

` `

` `



15. Agents balance receivable in case of Curacao Branch:` `

` `

` `

16. Amount receivable under Bhama Shah Health Insurance Scheme: ` `

17. Receipts & Payments Account:

18. Foreign Exchange Reserve Account:

` `

`

Sr. No. Particulars

Current Year Previous YearDebit Credit Debit Credit

1

Total - 16666.33 - 14214.68

`

DescriptionFor the Year Ended

31.03.2019 31.03.2018

`Components of

employer expenseFunded Unfunded


I. Total expense recognized in the

9919 1613 1986 1011 10668079 5011

4995 784345 17094 4349

69787036

II. Actual Returns for the year 2018-19



`Components of

employer expenseFunded Unfunded


III. Net Asset/(Liability) recognized in Balance Sheet at 31.03.2019

347643 145689 137341 67014 66513

314304 335006 111387

345 691 17849

IV.during the year

347643 137341 66513

9919 1613 1986 1011 10668079 5011

8715 11193 784

K 347643 145689 103589 67014 66513

V Change in Fair Value of Plan Asset during the year

335006 100619

8394 8039

18661 30576 7179

314304 335006 111387

VI. Transitional Provisions

VII. Actuarial Assumptions

VIII. Major Category of Plan Assets as % of the Total Plan Assets as at 31.03.2019





A) List of Related Parties: I) Reporting Enterprise: The New India Assurance Company Limited

II) Associates:

III) Key management personnel of the Company: -

Name of person Role/Designation From / Upto



Prestige Assurance Plc. - Nigeria

The New India Assurance Co. (T & T) Ltd. – Port of Spain, Trinidad & Tobago

The New India Assurance Co. (Sierra Leone) Ltd. – Freetown, Sierra Leone

B) Transactions with related parties:

Sr. No.

Nature of Relationship Nature of Transaction Current Year (` in Lakhs)


22. Lease:

` `



23. Earnings Per Share:


1648000000

1648000000 1633403000

` 5 ` 5

`

` `

24. Corporate Social Responsibilities (CSR):` `

` ` ` `

`

25. Unaudited accounts of Foreign branches of Holding Company:

26. Analysis of Unclaimed amounts of Policyholders:` `

`

Particulars Total Amount

1-6 Months

7-12 Months

13-18 Months

19-24 Months

25-30 Months

31-36 Months

Beyond 36 Months

Total 15899.86 985.82 1031.09 996.84 913.09 664.15 999.53 10309.34

` ` ` `



27. Prior period items and Credit balance written back:

` `` `

`

Sr. No. Particulars

Current Year Previous YearDebit Amount Credit Amount Debit Amount Credit Amount

1

345

Total 4,010.60 105.08 618.08 2,585.30

` `` `

28. Liability under Micro, Small and Medium Enterprise Development Act, 2006:

29. Penalty:

No. AuthorityNon-

Compliance/ Violation

In LakhsPenalty

AwardedPenalty

PaidPenalty Waived/

Reduced1

345

6

7

8

9

10



`

` `

on 31

30.

31. Fraud Monitoring Cell:

``

32. Final Dividend of Financial Year 2017-18:` `

``

33. Proposed Dividend for current year: `

`

34.



16 C. Disclosures Forming Part of Consolidated Financial Statements`

Sr. No Particulars Current Year Previous Year1

6211.46 -

2282.07 8684.51

375698.37 -

1806.8878.55

5940.37 -

3 4000.174

1487038.95 227391.05

5 -6 1105098.93

153595.00 300387.27 155938.00

1405486.20 309533.00

7 1888720.25

335816.048

5368.54 - -

9 -

-10

- 83205.07

11

934671.90 21788.09

956459.99

1314

15



16 Sector-wise break-up of gross direct premium written in India is as under:

SectorCurrent Year Previous Year

` in Lakhs Percentage Number of Policies/lives ` in Lakhs Percentage Number of

Policies/lives

109838770 441716063

Total 2391015.92 100.00 2271876.11 100.00

17 Performance Ratios

i) Gross Premium Growth Rates :

SEGMENTGross Direct Premium (` in Lakhs) Growth Rate (%)


Marine Total 70888.97 7161.27 78050.24 60000.91 5613.26 65614.17 18.15 27.58 18.95 (1.64) (23.86) (3.45)

Misc sub Total 2097651.98 200527.55 2298179.53 2003618.61 184742.00 2188360.61 4.69 8.54 5.02 20.12 2.22 18.46Grand Total 2391015.92 290811.89 2681827.81 2271876.11 263839.80 2535715.91 5.24 10.22 5.76 18.85 (1.72) 16.49

ii) Gross Direct Premium to Net Worth Ratio:

`


Gross Direct Premium to Net Worth Ratio (Times) (a/b) 1.64 1.60

iii) Growth Rate of Net Worth:`

Current Year Previous Year Growth (CY) Growth (PY) Growth % (CY) Growth % (PY)



iv) Net Retention Ratio : Indian



Net Written Premium



Net Written Premium


Fire 231000.64 87396.37 37.83 217328.58 85817.29 39.49

Marine Total 71322.45 36451.87 51.11 60519.88 34121.34 56.38


Net Retention Ratio : Foreign



Net Written Premium



Net Written Premium


Fire 186954.21 126037.07 67.42 168971.43 110471.38 65.38

Marine Total 11647.18 8930.85 76.68 9463.21 7694.76 81.31




Net Retention Ratio: Global



Net Written Premium



Net Written Premium


Fire 417954.85 213433.44 51.07 386053.95 196288.67 50.84

Marine Total 82969.63 45382.72 54.70 69955.96 41816.10 59.77


v) Net Commission Ratio to Net Written Premium

SEGMENTNet Commission (` in Lakhs) Net Commission Ratio (%)


Fire 13513.28 31115.69 44628.96 (2513.82) 30879.12 28365.30 15.46 24.69 20.91 (2.93) 27.95 14.45

Marine Total 4827.75 1324.61 6152.36 4211.72 1474.66 5686.38 13.24 14.83 13.56 12.34 19.16 13.60

Misc sub Total 125899.47 44382.14 170281.61 110214.70 39004.72 149219.42 7.13 22.10 8.66 6.52 21.81 7.99Grand Total 144240.51 76822.43 221062.93 111912.60 71358.50 183271.10 7.64 22.88 9.94 6.18 24.03 8.70



vi) Expense of Management to Gross Direct Premium Ratio:

`


Expense of Management to Gross Direct Premium Ratio (%) ((b+c)/a) 23.94 22.51

vii) Expense of Management to Net Written Premium Ratio:

`


Expense of Management to Net Written Premium Ratio (%) ((b+c)/a) 28.86 27.09

viii) Net Incurred Claims to Net Earned Premium:

`


Net Incurred Claims to Net Earned Premium Ratio (%) (b/a) 95.08 85.60

ix) Combined Ratio:

`

ParticularsCurrent Year Previous Year

Indian Foreign Global Indian Foreign Global

Combined Ratio (%) (b/a) + ((d+e)/c) 123.39 123.11 123.40 112.60 103.91 111.25

x) Technical Reserves to Net Premium Ratio:

`


e. Total Techical Reserves (b+c+d) 3391943.61 2986719.83Technical Reserves to Net Premium Ratio (Times) (e/a) 1.52 1.42



xi) Underwriting Balance Ratio:

`

SegmentCurrent Year Previous Year

Net Earned Premium


Net Earned Premium


Fire 190666.45 (107461.80) (0.56) 196397.05 (18441.32) (0.09)

Marine Total 43034.51 (6687.98) (0.16) 38375.19 3162.29 0.08

Misc sub Total 1927464.83 (409433.36) (0.21) 1748267.13 (239488.02) (0.14)Grand Total 2161165.79 (523583.14) (0.24) 1983039.37 (254767.06) (0.13)

`


(6.67) 4.98

xiii) Liquid Assets to Liabilities Ratio:

`


d. Total Liquid Assets (a+b+c) 1230501.52 1076425.69e. Policy Holders Liabilities 3391943.61 2986719.83Liquid Assets to Liabilities Ratio (Times) (d/e) 0.36 0.36

xiv) Net Earnings Ratio:

`


Net Earnings Ratio (%) (b/a) 2.72 10.39



xv) Return on Net Worth Ratio:

`


Return on Net Worth Ratio (%) (b/a) 3.70 13.78

xvi) Available Solvency Margin (ASM) to Required Solvency Margin (RSM) Ratio

`


ASM to RSM Ratio (Times) (a/b) 2.13 2.58

xvii) NPA Ratio

`


Gross NPA Ratio (%) 0.55 0.26Net NPA Ratio (%) 0.15 -



18 Summary of Financial Statements

`

No Particulars 2018-19 2017-18 2016-2017 2015-2016 2014-20151

345678910 (144130.18) 98697.07 (55695.52) (43507.97) 37227.12

Non Operating Result11

1314

Miscellaneous15

16

171819

`

`

`



19 Age wise analysis of outstanding claims as on 31.03.2019 (Gross Indian excluding provision for IBNR and IBNER)

Segment

Less than 90 Days

Above 90 Days to 6 months

Above 6 months to 1 year

Above 1 Year to 2 years



(` In Lakhs) 557 446 965 978 447 549 81

53 43 6003 3973 596

7500 7740 17199 74889 5051 1509

355 185 1968 591 600 117

5 30 19 759 436

1169 314Total 134587 176862.64 21351 123524.63 30243 297222.12 32148 303693.30

Segment

Above 2 Years to 3 years

Above 3 years to 5 Years

5 Years and above Total



(` In Lakhs) 161 616 3317 67 104 37 19 60

444 631

344 310 86630 344 818

74 68 93 3511 5 7 11 109

48 89 1919 193

Total 22563 163222.25 25670 143959.13 42971 197002.13 309533.00 1405486.20


Atul Sahai

For NBS & Co. Mukund M. Chitale & Co.


Overseas PresencePR

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f47LVftEIT7447-41 cb 22708400 NEW INDIA …...Regulations, 2015, please find attached copy of Annual...

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