nfOkm OG:of ]/]G; skf ]{/]zg -g ]kfn lnld6 ]8 - LIC Nepal · nfOkm OG:of ]/]G; skf ]{/]zg -g ]kfn_...

$: nfOkm OG:of ]/]G; skf ]{/]zg -g ]kfn lnld6 ]8 - LIC Nepal · nfOkm OG:of ]/]G; skf ]{/]zg -g ]kfn_ lnld6 ]8 sf] cf7f}+ jflif {s ; ... Auditor's Report to the Shareholders of Life$
��nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ lnld6]8sf]

cf7f}+ jflif{s ;fwf/0f ;ef ;DjlGw ;"rgf

z]o/wgL dxfg'efjx?,

nfOkm OG:of]/]G; skf{]/]zg -g]kfn_ lnld6]8sf] ldlt @)^^÷)*÷)# df a;]sf] ;+rfns ;ldltsf] $! cf}+ a}7ssf] lg0f{o cg';f/ o;

sDkgLsf] cf7f}+ jflif{s ;fwf/0f ;ef lgDg lnlvt ldlt, :yfg / ;dodf lgDg ljifox? pk/ 5nkmn tyf lg0f{o ug{ a:g] ePsf] x'“bf

;a} z]o/wgL dxfg'efjx?sf] pkl:yltsf nflu of] ;"rgf k|sflzt ul/Psf] 5 .

;ef x'g] ldlt, ;do / :yfg M

ldlt M @)^^ ;fn kf}if @& ut], ;f]daf/ -tb\g';f/ !! hgj/L, @)!)_

;do M laxfg )(M)) ah] .

:yfg M /l;og sNr/n ;]G6/, sdnkf]v/L, sf7df8f}+ .

5nkmnsf] ljifox? M

!= cWoIfåf/f ;+rfns ;ldltsf] jflif{s k|ltj]bg k|:t't .

@= n]vfk/LIfssf] k|ltj]bg ;lxt cf= j= @)^%÷)^^ sf] jf;nft, cfo–Joo lx;fa / ;f]xL cjlwsf] gub k|jfx ljj/0f dfly

5nkmn u/L kfl/t ug]{ .

#= n]vfk/LIf0f ;ldltsf] l;kmfl/; adf]lhd cf= j= @)^^÷)^& sf] nflu n]vfk/LIfssf] lgo'lQm ug]{ / lghsf] kfl/>lds tf]Sg] .

$= ;+rfns ;ldltsf] l;kmfl/; adf]lhd ;+rfns ;ldltsf] cWoIf / ;b:ox?sf] ;fy} n]vf k/LIf0f ;ldlt ;b:ox?sf] a}7s eQf

a[l4 ug{] ;DjGwdf .

%= ;+rfns ;ldltaf6 k|:tfljt gub nfef+; kfl/t ug{] .

^= cWoIfsf] cg'dltn] cGo s'g} ljifox? .

cf1fn],

ljgf]b s'df/ e'h]n

sDkgL ;lrj

- 1 -

8 th

Annual Reportjflif{s k|ltj]bg

cf}+*;fwf/0f ;ef ;DjlGw ;fdfGo hfgsf/L

!= ;efdf efu lng OR5's z]o/wgL dxfg'efjx?nfO{ ;ef x'g] lbg z]o/ k|df0f–kq jf cfÇgf] kl/ro v'Ng] k|df0f ;fydf lnO{ cfpg'

x'g cg'/f]w 5 .

@= ;efdf efu lngsf nflu k|ltlgwL -k|f]S;L_ lgo'Qm ug{ rfxg] z]o/wgLn] k|ltlgwL–kq -k|f]S;L kmf/fd_ e/L ;ef z'? x'g'eGbf $*

306f cufj} cyf{t\ ldlt @)^^÷)(÷@% ut] !!M)) ah]leq sDkgLsf] z]o/ zfvf, sf7df8f}+ Knfhf, sdnfbL, sf7df8f}+df

btf{ u/fO;Sg' kg]{5 .

#= gfafns jf ljlIfKt z]o/wgLsf] tk{maf6 sDkgLsf] z]o/ nut lstfadf ;+/Ifssf] ?kdf gfd btf{ ePsf] JolQmn] ;efdf efu

lng, dtbfg ug{ jf k|ltlgwL tf]Sg kfpg]5g\ .

$= ;+o'Qm ?kdf z]o/ vl/b ul/Psf] cj:yfdf nut lstfadf klxn] gfd pNn]v ePsf] JolQm cyjf ;j{;Ddtaf6 k|ltlgwL lgo'Qm

ul/Psf] Ps JolQmn] dfq ;efdf efu lng / dtbfg ug{ kfpg] 5g\ .

%= k|ltlgwL -k|f]S;L_ lgo'Qm ul/;Sg'ePsf] z]o/wgL cfkm}+ ;efdf pkl:yt eO{ xflh/L lstfadf b:tvt ug{' ePdf cl3 lbO{Psf] k|f]S;L

:jtM ab/ x'g]5 .

^= Pshgf z]o/wgLn] PseGbf a9LnfO{ k|ltlgwL -k|f]S;L_ d's// u/]df k|ltlgwL -k|f]S;L_ lbg] z]o/wgLn] cfkm'n] cl3 lbPsf] k|ltlgwL

-k|f]S;L_ ab/ u/]sf] Aoxf]/f :ki6 pNn]v u/L 5'§} lgj]bg lbO{ csf{] z]o/wgLnfO{ k|ltlgwL -k|f]S;L_ lgo'Qm u/]df To;/L lgo'Qm ePsf]

k|ltlgwLn] ;efdf efu lng / dtbfg ug{ kfpg]5 . o:tf] cj:yfdf cl3Nnf] k|ltlgwL -k|f]S;L_ :jtM ab/ ePsf] dflgg]5 .

&= 5nkmnsf] ljifodWo] ljljw zLif{s cGtu{t 5nkmn ug{ OR5's z]o/wgLx?n] ;ef x'g'eGbf & lbg cufj} 5nkmnsf] ljifo sDkgL

;lrj dfk{mt\ lnlvt ?kdf ;+rfns ;ldltsf] cWoIfnfO{ hfgsf/L lbg'kg]{5 .

*= z]o/wgLx?n] JoQm u/]sf] dGtJo jf k|Zgx?sf ;DjGwdf ;+rfns ;ldltsf tk{maf6 ;fd"lxs ?kn] pQ/ lbOg]5 .

(= sDkgLsf] z]o/ bflvn vf/]hsf] sfd @)^^÷)(÷!@ b]lv @)^^÷)(÷@& ut];Dd aGb /xg] 5 .

!)= ;fwf/0f ;ef ;DjGwdf yk hfgsf/L cfjZos k/]df sfof{no ;doleq aLdssf] skf{]/]6 sfof{no sf7df8f}+ Knfhf, sdnfbL,

sf7df8f}+df ;Dks{ /fVg ;d]t cg'/f]w ul/G5 .

!!= ;'/Iffsf] b[li6sf]0fn] z]o/wgL dxfg'efjx? ;ef:yndf cfp“bf emf]nf -Aofu_ h:tf j:t'x? glnO{ cfpg' x'g cg'/f]w ul/G5 .

cfjZos b]lvPdf ;'/IffsdL{n] ;'/Iff hf“r ug{;Sg] ePsf] x'“bf ;f] sfo{df ;xof]u ul/lbg' x'g ;d]t cg'/f]w ul/G5 .

k'gZr M o; sDkgLsf] cf= j= @)^%÷)^^ sf] jflif{s cfly{s ljj/0f, ;+rfns ;ldltsf] k|ltj]bg / n]vfk/LIfssf] k|ltj]bg

z]o/wgL dxfg'efjx?n] o; sDkgLsf] skf{]/]6 sfof{no, sf7df8f}+ Knfhf, sdnfbL, sf7df8f}+df cfO{ lgl/If0f ug{ ;Sg]

Joxf]/f ;'lrt ul/G5 .

- 2 -

��

- 15 -

>L nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln= sf]

z]o/wgL dxfg'efjx?df n]vfk/LIfssf] k|ltj]bg

xfdLn] o;};fy ;+nUg >L nfOkm OG:of]/]G; skf{]/]zg -g]kfn_ lnld6]8sf], @)^^ cfiff9 d;fGt ;Ddsf] jf;nft, ;f] ldltdf ;dfKt ePsf] cfly{s jif{sf]gfkmf gf]S;fg lx;fj, ;DalGwt cfo Joo lx;fj tyf gub k|jfx ljj/0fsf] n]vfk/LIf0f ;DkGg u/]sf 5f}+ . ljQLo ljj/0fx? k|ltsf] pQ/bfloTj sDkgLsf]Joj:yfkgdf /x]sf] 5 . Joj:yfkgn] tof/ u/]sf tL ljQLo ljj/0fx? pk/ n]vfk/LIf0fsf] cfwf/df cfkm\gf] dGtJo hf/L ug{' xfd|f] pQ/bfloTj xf] .

xfdLn] g]kfn n]vfk/LIf0f dfg tyf n]vfk/LIf0fsf] ;j{dfGo k|rngsf] cfwf/df n]vfk/LIf0f sfo{ ;DkGg u/]sf 5f}+ . ljQLo ljj/0f ;f/e"t?kdf untcf+s8f/lxt 5 eGg] s'/fdf ljZj:t x'gsf] nflu tL n]vfk/LIf0f dfg tyf ;j{dfGo k|rngdf /x]sf] dfu{bz{g cg';f/ n]vfk/LIf0f of]hgf tof/u/L tb\g';f/ n]vfk/LIf0f ;DkGg ug{'kb{5 . ljQLo ljj/0fdf pNn]lvt /sd / v'nfOPsf cGo ljj/0fnfO{ k'i6\of“O{ ug{] k|df0fsf] 58\s] k/LIf0f ;d]tn]vfk/LIf0fdf ;dfj]z x'G5 . sDkgLn] cjnDag u/]sf] n]vf l;4fGt, Joj:yfkgn] u/]sf dxTjk"0f{ cg'dfg Pj+ ljQLo ljj/0f k|:t'ltsf] ;du| l:ytLsf]d"Nof+sg klg n]vfk/LIf0fdf ;dfj]z x'G5 . n]vfk/LIf0fn] xfd|f] dGtJonfO{ kof{Kt cfwf/ k|bfg ug{] s'/fdf xfdL ljZj:t 5f}+ .

pk/f]Qm cfwf/df n]vfk/LIf0f u/L lgDgfg';f/sf] k|ltj]bg k]z u/]sf 5f}+ M–

-s_ n]vfk/LIf0fsf] ;DaGwdf ;f]wgL / s}lkmot tna ePsf] s'/fsf] hjfkm oyflz3| kfof}+ .

-v_ xfd|f] /fodf k]z ePsf] jf;nft, gfkmf gf]S;fg lx;fj, ;DalGwt cfo Joo lx;fj Pj+ gub k|jfx ljj/0f sDkgL P]g, @)^# tyf ljdf P]g, @)$(adf]lhd tof/ ePsf] / pQm ljj/0fx? sDkgLn] /fv]sf] n]vf;+u b'?:t /x]sf] 5 .

-u_ xfd|f] ljrf/df sDkgLsf] lx;fa–lstfa / n]vf sfg"g adf]lhd 7Ls;+u /flvPsf 5g\ .

-3_ xfd|f] /fo tyf xfdLnfO{ k|fKt ;"rgf Pj+ lbOPsf :ki6Ls/0f tyf n]vf;+u ;Da4 l6Kk0fLx?sf ;fy ;+nUg lx;fj cWoog ubf{ M–

i) jf;nftsf] ;DaGwdf cfiff9 #!, @)^^ sf] sDkgLsf] cfly{s cj:yf,

ii) gfkmf gf]S;fg lx;fjn] ;f]lx ldltdf ;dfKt ePsf] jif{sf] gfkmf, /

iii) gub k|jfx ljj/0fn] ;f]xL ldltdf ;dfKt ePsf] jif{sf] gub k|jfx ;d]tsf] ;xL / ;d'lrt lrq0f ub{5 .

-ª_ xfd|f] /fo tyf xfdLnfO{ k|fKt hfgsf/L Pj+ lbOPsf :ki6Ls/0f / sDkgLsf] lx;fj lstfjsf] k/LIf0faf6 ;+rfns ;ldlt jf sDkgLsf s'g}sd{rf/Ln] sfg"gL Joj:yf ljkl/t sfdsfh jf a]lx;fj u/]sf] jf hfghfg sDkgLnfO{ xflg–gf]S;fgL u/]sf] jf lxgfldgf u/sf] xfd|f] hfgsf/LdfcfPsf] 5}g .

-r_ ldlt @)^^ ;fn d+l;/ # ut] -tbg';f/ gf]e]Da/ !*, @))(_ df k|dfl0ft ul/Psf] o; sDkgLsf] cfly{s ljj/0fx? ljdf ;ldltsf] ldlt@)^^÷(÷# sf] kq adf]lhd :jLs[t eO;s]sf] x'gfn] z]o/wgL dxfg'efjx? ;dIf of] clGtd n]vfk/LIf0f k|ltj]bg hf/L ul/Psf] 5 .

lgMla=s]= cu|jfn P08 s+=rf6{8{ Psfp06]06\;

sf7df8f}+ la=s]= cu|jfnldltM– @)^^÷(÷# ;fem]bf/

Saraswati Vatika122 Pannahiti MargSifal Ward No. 7P.O. Box 3761Kathmandu, Nepal.

T: +977 1 4467694, 4481865F: +977 1 4480065E: [email protected]

la= s]= cu|jfn P08 s+=B. K. Agrawal & Co.Chartered Accountants

· Business Alliance Associate of Crowe Horwath International·

8 th


cf}+*

- 16 -

Saraswati Vatika122 Pannahiti MargSifal Ward No. 7P.O. Box 3761Kathmandu, Nepal.

T: +977 1 4467694, 4481865F: +977 1 4480065E: [email protected]

la= s]= cu|jfn P08 s+=B. K. Agrawal & Co.Chartered Accountants

Auditor's Report to the Shareholders of

Life Insurance Corporation (Nepal) Ltd.

We have audited the attached Balance Sheet of M/s Life Insurance Corporation (Nepal) Ltd. as on Ashad 31, 2066 (July 15,2009), Profit & Loss Account, related Statements of Income and Cash Flow Statement attached thereto, for the year endedon that date. These financial statements are the responsibility of the company's management. Our responsibility is toexpress an opinion on these financial statements based on our audit.

We conducted our audit in accordance with the auditing standards generally accepted in Nepal. Those standards require thatwe plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of materialmisstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in thefinancial statements. An audit also includes assessing the accounting principles used and significant estimates made bymanagement, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonablebasis for our opinion. Further we report that:a. We have obtained prompt replies to our queries and the explanations asked for.b. In our opinion, the Balance Sheet, Profit & Loss Account, related statements of Income and the Cash Flow Statement

are in compliance with the provisions of the Company Act, 2063, Insurance Act, 2049 and are in agreement with thebooks of account maintained by the company.

c. In our opinion, the accounts and records of the company have been accurately maintained in accordance with the law.d. In our opinion, and to the best of our information and according to the explanations given to us, the said accounts read

with the notes thereon, give a true and fair view;i. In case of Balance Sheet, of the state of affairs of the Company as Ashad 31, 2066 (July 15, 2009)ii. In case of Profit and Loss Account of the profit for the year ended on that date, andiii. In case of Cash Flow Statement, the cash flows for the year ended on that date.

e. In our opinion and to the best of our information and according to the explanations given to us, the Board of Directors orany employees of the Company have not acted contrary to legal provisions relating to accounts, nor committed anymisappropriation or caused loss or damage to the company.

f. The Financial Statements of the Company signed on November 18, 2009 has been approved by the Insurance Boardvide their letter dated Poush 3, 2066, and accordingly, this final auditor's report to the shareholders is issued.

For: B.K. Agrawal & Co.Chartered Accountants

B. K. Agrawal, FCASenior Partner

KathmanduDate: December 18, 2009

· Business Alliance Associate of Crowe Horwath International·

��

@%),))),)))$),$@^,*)^

#,$@%,^!),)*&–sss–sss

#,&!^,)#^,*(#

!^,(#*,@%%@,()^,%^!,&)%

!^^,^@!,*)&$,!*(,!(^

^*,*%^,)$(^&&,$!(,(^%@#,*)%,@%(

!#),&*%,$#&()),*^^,&!)

@&$,%@%,*!&–sss

!,&*@,%))^$,!&(,)!*

#$),$*&,##%%^),#&(,#&%^!,#$^,%%^

–sss

#,&!^,)#^,*(#

@%),))),)))(,*%(,)#@

@,$(@,#@(,)%^–sss–sss

@,&%@,!**,)**

%,*^),#^%@,!(#,(&@,@&$

(@,(^%,^#)@,*^%,&*(

%@,^*^,*^&#*$,)*$,@*#

!^,)(#,&)!(#,$!),*%$%$^,@&%,&)%

(^,%*),^(%–sss

*,^%*,)!)#(,%#&,)*&

!$$,&&%,&(@$)!,$((,(!#%%,)@$,!!&

–sss

@,&%@,!**,)**

>f]t! r'Qmf k"“hL !^@ hu]8f tyf sf]if !&# hLjg aLdf sf]if !!$ dxf–ljkQL hu]8f !*% ltg{ af“sL bL3{sflng C0f tyf ;fk6L !(

s"n >f]tpkof]u

^ l:y/ ;DkQL -v'b_ @)& lb3{sflng nufgL @!* aLdfn]vsf] lwtf]df shf{ #( cGo bL3{sflng shf{ @#

rfn' ;DkQL shf{ tyf k]ZsLx?!) gub tyf a}+s df}Hbft @@!! cNksflng nufgL @!!@ cGo cNksflng shf{ @#!# cGo ;DkQL @$

hDdf -s_ -!)+!!+!@+!#_rfn' bfloTj tyf Joj:yfx?

!$ rfn' bfloTj @%!% c;dfKt hf]lvd jfkt Joj:yf @^!^ e'QmfgL x'g af“sL bfjL afkt Joj:yf (!& cGo Aoj:yf @^s

hDdf -v_ -!$+!%+!^+!&_!* v"b rfn' ;DkQL -u_ = -s_ – -v_!( ckn]vg jf ;dfof]hg x'g af“sL ljljw vr{x? @&@) gfkmf gf]S;fg lx;faaf6 ;f/]sf] gf]S;fg

s"n pkof]u -^+&+*+(+!*+!(+@)_

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=@)^^ cfiff9 d;fGtsf] jf;nft

ljj/0fqm=;+= cg';"rL o; aif{ ut aif{

;+efljt bfloTjx? tyf cg';"rL #, (, !! tyf !^ b]lv @( ;Dd o;sf cleGg c+u x'g\ .

;+efljt bfloTjx?

! r'Qmf jf e'QmfgL x'g af“sL nufgL@ k|Tofe"lt k|lta4tf# aLdfn]v cGtu{t eGbf afx]saf6 aLds pk/ bfjL k/]sf] t/ aLdsn] bfloTj :jLsf/ gu/]sf]$ aLdsn] jf aLdssf] tkm{af6 lbOPsf] Uof/]06L% /]k'8]zg ul/Psf] d[To' bfaL

hDdf

–sss –sss –sss –sss

*,#!%,)))

*,#!%,)))

–sss –sss –sss –sss

&,!!%,)))

&,!!%,)))

qm=;+= ljj/0f o; aif{ ut aif{

ljlkg s'df/ nfnljQ clws[t

b]jf]lht ;fGofn;xfos dxfk|jGws

d'/nLw/g\= kLk|d'v sfo{sf/L clws[t÷;+rfns

/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns

P=s]= bf; u'Ktf;+rfns

l6=P;= ljhogcWoIf

;+nUg k|lta]bgsf] cfwf/dfla=s]= cu|jfn, Pkm=;L=P=

al/i7 ;fe]mbf/la=s]= cu|jfn P08 sDkgL

rf6{8{ Psfp06]06;\

- 17 -

8 th


cf}+*S.N. Particulars Schedule Current Year Previous Year

Sources1 Paid up capital 16 250,000,000 250,000,0002 Reserve & Surplus 17 40,426,806 9,859,0323 Life Insurance Fund 11 3,425,610,087 2,492,329,0564 Catastrophe Reserve 18 -aaa -aaa5 Long term loan & Borrowing 19 -aaa -aaa

Total Sources 3,716,036,893 2,752,188,088Uses

6 Fixed Assets (Net) 20 16,938,255 5,860,3657 Long Term Investment 21 2,906,561,705 2,193,972,2748 Policy Loan 3 166,621,807 92,965,6309 Other Long Term Loan 23 4,189,196 2,865,789

Current Assets, Loans and advances :10 Cash and Bank Balance 22 68,856,049 52,686,86711 Short Term Investment 21 677,419,965 384,084,28312 Other Short Term Loan 23 23,805,259 16,093,70113 Other Assets 24 130,785,437 93,410,854

Total (A) {10+11+12+13} 900,866,710 546,275,705Current liabilities and provisions :

14 Current Liabilities 25 274,525,817 96,580,69515 Provision for Unexpired Risk 26 -aaa -aaa16 Provision For outstanding Claims 9 1,782,500 8,658,01017 Other Provision 26a 64,179,018 39,537,087

Total (B) {14+15+16+17} 340,487,335 144,775,79218 Net Current Assets C = (A-B) 560,379,375 401,499,91319 Miscellaneous Expenses (To the extent not written off) 27 61,346,556 55,024,11720 Loss Transferred From Profit & Loss Account -aaa -aaa

Total Uses (6+7+8+9+18+19+20) 3,716,036,893 2,752,188,088

Contingent Liabilities and Schedule 3, 9, 11 & 16 to 29 are integral part of this Balance Sheet.

Contingent Liabilties

S.N. Particulars Current Year Previous Year

1 Unpaid Investment -aaa -aaa2 Underwriting Commitment -aaa -aaa3 Claim other than insurance business not accepted by the company -aaa -aaa4 Guarantee issued by insured or on behalf of insured -aaa -aaa5 Other (Death Claims Repudiated) 8,315,000 7,115,000

Total 8,315,000 7,115,000

Life Insurance Corporation (Nepal) Ltd.Balance Sheet as on 31st Ashad 2066 (15th July 2009)

As per our report of even date

B. K. Agrawal, FCASr. Partner

For B.K. Agrawal & Co.Chartered Accountants

Bipin Kumar LalFinance Officer

Devojit SanyalAsst. General Manager

Muraleedharan. PCEO/Director

Rajendra AryalDirector

S.K. MukharjeeDirector

Ashok AgrawalDirector

A.K. Das GuptaDirector

T. S. VijayanChairman

- 18 -

��nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=

cfly{s jif{ @)^%÷)^^ sf] ;fjlws hLjg aLdfsf] cfo Aoo lx;fa

cfo! aLdfz'Ns -v"b_ ! %)@,@*$,(#& $#),$!(,^*%@ k'gaL{df sldzg cfo –sss –sss# nufgL, shf{ tyf cGoaf6 cfo @ !!(,$@@,((^ (!,#*(,^*($ aLdfn]vsf] lwtf]df shf{af6 cfo # !),)^#,^#) %,)^(,*%@% cGo k|ToIf cfo $,&(*,^^@ #,*#@,&$%^ cfly{s aif{sf] z'?sf] e'QmfgL x'g af“sL bfjL afkt Joj:yf %,#^$,&%) $,%!),%))& cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf –ss –ss

hDdf cfo -s_ ^$!,(#$,(&% %#%,@@@,$&!Joo

* bfjL e'QmfgL -v'b_ $ $$,^^%,#%^ #!,^)&,)@&( clestf{ sldzg % $$,%&#,*%% #^,^*!,&&$!) :jf:Yo k/LIf0f z'Ns ^##,@(% (%#,(**!! k'gaL{df sldzg vr{ –ss –ss!@ ;]jf z'Ns -v'b_ ^ %,)##,%)! $,#!#,#$%!# cGo k|ToIf vr{ –ss –ss!$ Joj:yfkg vr{ & $),$*#,%%^ @@,!@*,$#$!% cfos/ * !*,&&^,$)^ !$,#!^,&#%!^ cfly{s aif{sf] cGTodf e'QmfgL x'g af“sL bfjL afkt Joj:yf ( ^(),))) %,#^$,&%)!& cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf –ss –ss hDdf Joo -v_ !%$,*%%,(^( !!%,#^^,)%#!* hLjg aLdf sf]if÷gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ = -s_ – -v_ $*&,)&(,))^ $!(,*%^,$!(

qm=;+= ljj/0f cg';"rL o; aif{ ut aif{

cg';"rL ! b]lv ( ;Dd o;sf cleGg c+u x'g\ .




/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf



rf6{8{ Psfp06]06;\

- 19 -

8 th


cf}+*S.N. Particular Schedule Current Year Previous Year

Income1 Net Premium 1 502,284,937 430,419,6852 Re- Insurance Commission Income -aaa -aaa3 Investment, Loan And Other Income 2 119,422,996 91,389,6894 Income From Policy Loan 3 10,063,630 5,069,8525 Other Direct Income 4,798,662 3,832,7456 Provision for outstanding claims at the begin. of year 5,364,750 4,510,5007 Provision for unexpired risk at the beginning of the year -aaa -aaa

Total Income (A) 641,934,975 53,522,2471Expenditure

8 Claim Payment (Net) 4 44,665,356 31,607,0279 Agent commision 5 44,573,855 36,681,77410 Medical Fee 633,295 953,98811 Re-Insurance Commission Expenses -aaa -aaa12 Service Charges (Net) 6 5,033,501 4,313,34513 Other Direct Expenses -aaa -aaa14 Management Expenses 7 40,483,556 22,128,43415 Income Tax 8 18,776,406 14,316,73516 Provision for Outstanding claim to be paid at the end of the year 9 690,000 5,364,75017 Provision for unexpired Risk to be paid at the end of the year -aaa -aaa

Total Expenditure (B) 154,855,969 115,366,05318 Surplus Transferred to Life Fund (A - B) 487,079,006 419,856,419

Schedule 1 to 9 are integral part of this Revenue Account.

Life Insurance Corporation (Nepal) Ltd.Revenue Account of Endowment Policy for the F. Y. 2065/066












- 20 -


cfly{s jif{ @)^%÷)^^ sf] clu|d e'QmfgL ;fjlws hLjg aLdfsf] cfo Aoo lx;fa

cfo! aLdfz'Ns -v"b_ ! @&(,@@$,@#% @@(,@(*,#(@@ k'gaL{df sldzg cfo –sss –sss# nufgL, shf{ tyf cGoaf6 cfo @ $!,#@$,^$( @*,*)),#(#$ aLdfn]vsf] lwtf]df shf{af6 cfo # (%#,@*@ ^^&,%))% cGo k|ToIf cfo @,%%&,(&( *#(,*%&^ cfly{s aif{sf] z'?sf] e'QmfgL x'g af“sL bfjL afkt Joj:yf !,!&&,@^) !,$(%,)))& cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf –ss –ss

hDdf cfo -s_ #@%,@#&,$)^ @^!,!)!,!$@Joo

* bfjL e'QmfgL -v'b_ $ %!,^%*,%%( @$,#!#,&*$( clestf{ sldzg % #!,&%#,@#& #!,*)),@%^!) :jf:Yo k/LIf0f z'Ns $@),&@% @^*,)))!! k'gaL{df sldzg vr{ –ss –ss!@ ;]jf z'Ns -v'b_ ^ @,&(#,%&* @,@($,$&@!# cGo k|ToIf vr{ –ss –ss!$ Joj:yfkg vr{ & @!,*$*,*&* !@,**&,()(!% cfos/ * $,^$),%@$ #,#)@,))*!^ cfly{s aif{sf] cGTodf e'QmfgL x'g af“sL bfjL afkt Joj:yf ( (&&,%)) !,!&&,@^)!& cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf –ss –ss

hDdf Joo -v_ !!$,)(#,))@ &^,)$#,^**!* hLjg aLdf sf]if÷gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ = -s_ – -v_ @!!,!$$,$)$ !*%,)%&,$%$






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rf6{8{ Psfp06]06;\

- 21 -

8 th



Income1 Net Premium 1 279,224,235 229,298,3922 Re- Insurance Commission Income -aaa -aaa3 Investment, Loan And Other Income 2 41,324,649 28,800,3934 Income From Policy Loan 3 953,282 667,5005 Other Direct Income 2,557,979 839,8576 Provision for outstanding claims at the begin. of year 1,177,260 1,495,0007 Provision for unexpired risk at the beginning of the year -aaa -aaa


8 Claim Payment (Net) 4 51,658,559 24,313,7849 Agent commision 5 31,753,237 31,800,25610 Medical Fee 420,725 268,00011 Re-Insurance Commission Expenses -aaa -aaa12 Service Charges (Net) 6 2,793,578 2,294,47213 Other Direct Expenses -aaa -aaa14 Management Expenses 7 21,848,878 12,887,90915 Income Tax 8 4,640,524 3,302,00816 Provision for Outstanding claim to be paid at the end of the year 9 977,500 1,177,26017 Provision for unexpired Risk to be paid at the end of the year -aaa -aaa

Total Expenditure (B) 114,093,002 76,043,68818 Surplus Transferred to Life Fund (A-B) 211,144,404 185,057,454


Life Insurance Corporation (Nepal) Ltd.Revenue Account of Anticipated Endowment Policy for the F. Y. 2065/066












- 22 -


cfly{s jif{ @)^%÷)^^ sf] ?kfGtl/t ;fjlws hLjg aLdfsf] cfo Aoo lx;fa

cfo! aLdfz'Ns -v"b_ ! #(@,^!),*&( @#(,$*),^#!@ k'gaL{df sldzg cfo –sss –sss# nufgL, shf{ tyf cGoaf6 cfo @ @*,!^&,#^$ !),$*#,$#&$ aLdfn]vsf] lwtf]df shf{af6 cfo # #)%,&%# !#,@&)% cGo k|ToIf cfo !,$&&,(^^ !,(#),!&*^ cfly{s aif{sf] z'?sf] e'QmfgL x'g af“sL bfjL afkt Joj:yf @,!!^,))) !,)*!,)))& cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf –ss –ss

hDdf cfo -s_ $@$,^&&,(^@ @%@,(**,%!%Joo

* bfjL e'QmfgL -v'b_ $ ^,^$!,*&( @,)!^,#$*( clestf{ sldzg % ^#,^^^,^!! $@,@!%,^$&!) :jf:Yo k/LIf0f z'Ns !,%*!,*)@ ((),$))!! k'gaL{df sldzg vr{ –ss –ss!@ ;]jf z'Ns -v'b_ ^ #,(##,%*! @,#((,)!!!# cGo k|ToIf vr{ –ss –ss!$ Joj:yfkg vr{ & @(,))@,))* !#,$#%,!^!!% cfos/ * –ss –ss!^ cfly{s aif{sf] cGTodf e'QmfgL x'g af“sL bfjL afkt Joj:yf ( !!%,))) @,!!^,)))!& cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf –ss –ss

hDdf Joo -v_ !)$,($),**! ^#,!&@,%^^!* hLjg aLdf sf]if÷gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ = -s_ – -v_ #!(,&#&,)*! !*(,*!%,($(






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rf6{8{ Psfp06]06;\

- 23 -

8 th



Income1 Net Premium 1 392,610,879 239,480,6312 Re-Insurance Commission Income -aaa -aaa3 Investment, Loan And Other Income 2 28,167,364 10,483,4374 Income From Policy Loan 3 305,753 13,2705 Other Direct Income 1,477,966 1,930,1786 Provision for outstanding claims at the begin. of year 2,116,000 1,081,0007 Provision for unexpired risk at the beginning of the year -aaa -aaa


8 Claim Payment (Net) 4 6,641,879 2,016,3489 Agent commision 5 63,666,611 42,215,64710 Medical Fee 1,581,802 990,40011 Re-Insurance Commission Expenses -aaa -aaa12 Service Charges (Net) 6 3,933,581 2,399,01113 Other Direct Expenses -aaa -aaa14 Management Expenses 7 29,002,008 13,435,16115 Income Tax 8 -aaa -aaa16 Provision for Outstanding claim to be paid at the end of the year 9 115,000 2,116,00017 Provision for unexpired Risk to be paid at the end of the year -aaa -aaa

Total Expenditure (B) 104,940,881 63,172,56618 Surplus Transferred to Life Fund (A - B) 319,737,081 189,815,949


Life Insurance Corporation (Nepal) Ltd.Revenue Account of Modified Endowment Policy for the F. Y. 2065/066












- 24 -


cfly{s jif{ @)^%÷)^^ sf] cfhLjg hLjg aLdfsf] cfo Aoo lx;fa

cfo! aLdfz'Ns -v"b_ ! !*,%@@,)#$ –sss@ k'gaL{df sldzg cfo –sss –sss# nufgL, shf{ tyf cGoaf6 cfo @ &#&,(%! –sss$ aLdfn]vsf] lwtf]df shf{af6 cfo # –sss –sss% cGo k|ToIf cfo *#! –sss^ cfly{s aif{sf] z'?sf] e'QmfgL x'g af“sL bfjL afkt Joj:yf –sss –sss& cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf –sss –sss

hDdf cfo -s_ !(,@^),*!^ –sss

Joo* bfjL e'QmfgL -v'b_ $ –sss –sss( clestf{ sldzg % $,*$%,#$@ –sss!) :jf:Yo k/LIf0f z'Ns @#%,(!^ –sss!! k'gaL{df sldzg vr{ –sss –sss!@ ;]jf z'Ns -v'b_ ^ !*%,@@) –sss!# cGo k|ToIf vr{ –sss –sss!$ Joj:yfkg vr{ & !,!**,)$^ –sss!% cfos/ * –sss –sss!^ cfly{s aif{sf] cGTodf e'QmfgL x'g af“sL bfjL afkt Joj:yf ( –sss –sss!& cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf –sss –sss

hDdf Joo -v_ ^,$%$,%@% –sss

!* hLjg aLdf sf]if÷gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ = -s_ – -v_ !@,*)^,@(! –sss






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rf6{8{ Psfp06]06;\

- 25 -

8 th



Income1 Net Premium 1 18,522,034 -aaa2 Re-Insurance Commission Income -aaa -aaa3 Investment, Loan And Other Income 2 737,951 -aaa4 Income From Policy Loan 3 -aaa -aaa5 Other Direct Income 831 -aaa6 Provision for outstanding claims at the begin. of year -aaa -aaa7 Provision for unexpired risk at the beginning of the year -aaa -aaa

Total Income (A) 19,260,816 -aaaExpenditure

8 Claim Payment (Net) 4 -aaa -aaa9 Agent commision 5 4,845,342 -aaa10 Medical Fee 235,916 -aaa11 Re-Insurance Commission Expenses -aaa -aaa12 Service Charges (Net) 6 185,220 -aaa13 Other Direct Expenses -aaa -aaa14 Management Expenses 7 1,188,046 -aaa15 Income Tax 8 -aaa -aaa16 Provision for Outstanding claim to be paid at the end of the year 9 -aaa -aaa17 Provision for unexpired Risk to be paid at the end of the year -aaa -aaa

Total Expenditure (B) 6,454,525 -aaa18 Surplus Transferred to Life Fund (A - B) 12,806,291 -aaa


Life Insurance Corporation (Nepal) Ltd.Revenue Account of Whole Life Policy for the F. Y. 2065/066












- 26 -


cfly{s jif{ @)^%÷)^^ sf] ljz]if DofbL hLjg aLdfsf] cfo Aoo lx;fa

cfo! aLdfz'Ns -v"b_ ! !,#&^,%&% –sss@ k'gaL{df sldzg cfo –sss –sss# nufgL, shf{ tyf cGoaf6 cfo @ %^,()^ –sss$ aLdfn]vsf] lwtf]df shf{af6 cfo # –sss –sss% cGo k|ToIf cfo @(@ –sss^ cfly{s aif{sf] z'?sf] e'QmfgL x'g af“sL bfjL afkt Joj:yf –sss –sss& cfly{s aif{sf] z'?sf] c;dfKt hf]]lvd afkt Joj:yf –sss –sss

hDdf cfo -s_ !,$##,&&# –sss

Joo* bfjL e'QmfgL -v'b_ $ –sss –sss( clestf{ sldzg % @*^,*$^ –sss!) :jf:Yo k/LIf0f z'Ns %#,@&) –sss!! k'gaL{df sldzg vr{ –sss –sss!@ ;]jf z'Ns -v'b_ ^ !@,#(& –sss!# cGo k|ToIf vr{ –sss –sss!$ Joj:yfkg vr{ & (!,^!$ –sss!% cfos/ * –sss –sss!^ cfly{s aif{sf] cGTodf e'QmfgL x'g af“sL bfjL afkt Joj:yf ( –sss –sss!& cfly{s aif{sf] cGTodf c;dfKt hf]lvd afkt Joj:yf –sss –sss

hDdf Joo -v_ $$$,!@^ –sss

!* hLjg aLdf sf]if÷gfkmf gf]S;fg lx;fadf ;f/]sf] art÷-gf]S;fg_ = -s_ – -v_ (*(,^$& –sss






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rf6{8{ Psfp06]06;\

- 27 -

8 th



Income1 Net Premium 1 1,376,575 -aaa2 Re-Insurance Commission Income -aaa -aaa3 Investment, Loan And Other Income 2 56,906 -aaa4 Income From Policy Loan 3 -aaa -aaa5 Other Direct Income 292 -aaa6 Provision for outstanding claims at the begin. of year -aaa -aaa7 Provision for unexpired risk at the beginning of the year -aaa -aaa

Total Income (A) 1,433,773 -aaaExpenditure

8 Claim Payment (Net) 4 -aaa -aaa9 Agent commision 5 286,846 -aaa10 Medical Fee 53,270 -aaa11 Re-Insurance Commission Expenses -aaa -aaa12 Service Charges (Net) 6 12,397 -aaa13 Other Direct Expenses -aaa -aaa14 Management Expenses 7 91,614 -aaa15 Income Tax 8 -aaa -aaa16 Provision for Outstanding claim to be paid at the end of the year 9 -aaa -aaa17 Provision for unexpired Risk to be paid at the end of the year -aaa -aaa

Total Expenditure (B) 444,126 -aaa18 Surplus Transferred to Life Fund (A - B) 989,647 -aaa


Life Insurance Corporation (Nepal) Ltd.Revenue Account of Special Term Policy for the F. Y. 2065/066












- 28 -


cfly{s jif{ @)^%÷)^^ sf] gfkmf gf]S;fg lx;fa

cfDbfgL! cfo Joo lx;faaf6 ;f/]sf] !) –sss –sss@ hLjg aLdf sf]ifaf6 ;f/]sf] !! (*,$&%,#(* –sss# nufgL shf{ tyf cGoaf6 cfo @ !!,@$^,@@* !#,^)*,(*($ Joj:yf lkmtf{ !@ –sss –sss% cGo cfDbfgL -ljj/0f v'nfpg]_ –sss –sss

hDdf cfDbfgL -s_ !)(,&@!,^@^ !#,^)*,(*(vr{

^ Joj:yfkg vr{ & !),@(),$%^ %,#*#,%))& ckn]vg vr{ !# –sss –sss* cGo vr{x? !$ –sss –sss( gf]S;fgLsf] nflu Joj:yf !% #,#$),%#@ *^!,*@@!) sd{rf/L cfjf; Aoj:yf –sss –sss!! sd{rf/L af]g; Joj:yf *,&#%,%!# %)(,!()!@ cfos/ * @#$,!)& !,&^@,%&(!# hLjg aLdf sf]ifdf ;f/]sf] !! –sss –sss

hDdf vr{ -v_ @@,^)),^)& *,%!&,)(!!$ v"b gfkmf÷-gf]S;fg_ -u_ = -s_ – -v_ *&,!@!,)!* %,)(!,*(*!% cl3Nnf] jif{;+u ;DalGwt vr{ #$%,@%$ –sss!%=! :ylut s/ ^,@)&,(() –sss!^ cl3Nnf] aif{af6 ;fl/Psf] gfkmf÷-gf]S;fg_ (,*%(,)#@ $@,@^&,!#$

af“8kmf“8sf] nflu pknAw /sd (),$@^,*)^ $&,#%(,)#@!& -s_ k"“hLut hu]8f !& –sss –sss

-v_ ljz]if hu]8f !& –sss –sss-u_ cGo hu]8f -ljj/0f v'nfpg]_ !& –sss –sss-3_ k|:tfljt nfef+z !& %),))),))) #&,%)),)))-ª_ dxf–ljkQL hu]8f !* –sss –sss

!* jf;nftdf ;f/]sf] gfkmf÷-gf]S;fg_ $),$@^,*)^ (,*%(,)#@


cg';"rL @, &, * tyf !) b]lv !%, !& / !* ;Dd o;sf cleGg c+u x'g\ .




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rf6{8{ Psfp06]06;\

- 29 -

8 th



Income1 Transferred from Revenue A/c 10 -aaa -aaa2 Transferred from Life Insurance fund 11 98,475,398 -aaa3 Income From Investment Loan and Others 2 11,246,228 13,608,9894 Written Back Provision 12 -aaa -aaa5 Other Income -aaa -aaa

Total Income (A) 109,721,626 13,608,989Expenses

6 Management expenses 7 10,290,456 5,383,5007 Written off expenses 13 -aaa -aaa8 Other expenses 14 -aaa -aaa9 Provision for loss 15 3,340,532 861,82210 Provision for Employees housing -aaa -aaa11 Provision for Employees Bonus 8,735,513 509,19012 Income tax 8 234,107 1,762,57913 Transferred to Life Fund 11 -aaa -aaa

Total Expenses (B) 22,600,607 8,517,09114 Net profit/(loss) C = (A - B) 87,121,018 5,091,89815 Expenses pertains to Prevoius year 345,254 -aaa15.1 Defferred Tax 6,207,990 -aaa16 Profit transferred from previous year 9,859,032 42,267,134

Amount available for Appropriation 90,426,806 47,359,03217 (a) Capital reserve -aaa -aaa

(b) Special reserve -aaa -aaa(c) Other reserve -aaa -aaa(d) Proposed dividend 50,000,000 37,500,000

18 Catastrophy reserve -aaa -aaa19 Profit transferred to Balance sheet 40,426,806 9,859,032

Schedule 2, 7, 8 &10 to 18 are integral part of this Profit & Loss Account.

Life Insurance Corporation (Nepal) Ltd.Profit and Loss Account for the Year of 2065/066 (2008/2009)












- 30 -

��

s sf/f]af/ ;+rfngaf6 gub k|jfxaLdf z'Ns cfDbfgL !,!(%,*@&,̂ ^@ ()),̂ *@,&))ljnDa z'Ns cfDbfgL *,*#%,&#) ,̂̂ )@,&*)k'gaL{df z'Ns cfDbfgL –sss –sssk'gaL{df sldzg cfDbfgL –sss –ssscGo k|ToIf cfDbfgL –sss –sssk'gaL{dsaf6 k|fKt bfjL l/se/L %^ ,̂&(! –sssk'gaL{df z'Ns e'QmfgL -#,)$@,((^_ -!,#)(,@&#_k'gaL{df sldzg e'QmfgL –sss –sssclestf{ sldzg e'QmfgL -!$%,!@%,*(!_ -!!),̂ (&,̂ &&_:jf:Yo k/LIf0f z'Ns e'QmfgL -@,(@ ,̂̂ )*_ -@,@!@,#**_d[To' bfjL e'QmfgL -@#,!%&,$((_ -!%,!&#,%@*_cjlw ;dfKtL bfjL e'QmfgL -&,̂ % ,̂%%)_ -%,%%!,#^&_cf+lzs cjlw ;dfKtL bfjL e'QmfgL -$$,*%$,%$*_ -! ,̂)*),%@^_;dk{0f d"No bfjL e'QmfgL -@&,*^#,(**_ -@!,#*!,&#%_cGo bfjL e'QmfgL –sss –sss;]jf z'Ns e'QmfgL -(,)) ,̂*@&_ -&,@$@,%%*_Joj:yfkg vr{ e'QmfgL -!)!,*(%,#^)_ -$&,)*$,%@(_sd{rf/L af]g; e'QmfgL -%)(,!()_ –ssscfos/ e'QmfgL –sss –sssRffn' ;DklQdf -j[l4_÷sdL -#&,#&$,%*#_ -@%,̂ ^*,!%@_Rffn' bfloTjdf j[l4÷-sdL_ @#,!&#,*@& !),$^@,!&#sf/f]af/ ;+rfngaf6 v"b gub k|jfx -s_ *@$,(*(,(&! ^^%,#$%,(@)

v nufgL ultljwLaf6 gub k|jfxl:y/ ;DklQdf -j[l4_ sdL -!%,#^*,%&$ -!,#@#,@)^_;/sf/L / ;/sf/sf] hdfgt k|fKt ;]So"l/6Ldf nufgLdf -j[l4_ sdL -@&%,̂ #$,%(^_ -@^),%&%,$(!_a}+s tyf ljQLo ;+:yfsf] d'2tL lgIf]kdf nufgLdf -j[l4_ sdL -̂ *%,))),)))_ -!)@,))),)))_a}+s tyf ljQLo ;+:yfsf] cGo lgIf]k nufgLdf -j[l4_ sdL -@,&@&,%)$_ -%,$&$,̂ &@_OSo"6L z]o/ nufgLdf -j[l4_ sdL -$),%!#,)!#_ -^(,$$*,#%*_cu|flwsf/ z]o/÷l8j]Gr/df nufgLdf -j[l4_ sdL -@,)%),)))_ -@(,!&),)))_cGo nufgLdf -j[l4_ sdL -!!,̂ &&,$#!_ -@!,!)&,&&)_aLdfn]vsf] lwtf]df shf{df -j[l4_ sdL -&#,̂ % ,̂!&&_ -̂ &,̂ #),̂ (&_k]ZsL tyf cGo shf{df -j[l4_ sdL -(,)#$,(^%_ -(,@!*,@%)_e'QmfgL k|fKt Aofh cfDbfgL -nufgLdf_ @)@,̂ *%,@#& !# ,̂&@$,*(&e'QmfgL k|fKt l8le8]G8 !,*(@,##* &#$,)(*ef8f cfDbfgL –sss –ssse'QmfgL k|fKt Aofh cfDbfgL -shf{df_ !!,#@@,̂ ^% %,&%),̂ @@cGo ck|ToIf cfDbfgL÷vr{ !,&##,%!) *,*(&,@$(nufgL ultljwLaf6 v"b gub k|jfx -v_ -*(*,)@*,%)(_ -$!#,*$!,%*)_

u ljQLo >f]t sf/f]af/af6 gub k|jfx z]o/af6 k|fKt /sd –sss –sss

ltg{ af“sL ;fk6Ldf -j[l4_÷sdL –sss –ssscNksflng C0fdf -j[l4_÷sdL !@(,&##,#$! -@#(,)@*,(^*_C0f ;fk6Ldf Aofh e'QmfgL -#,)@%,̂ @!_ -%,)& ,̂@&&_nfef+z e'QmfgL -#&,%)),)))_ –sssljQLo >f]t sf/f]af/af6 v"b gub k|jfx -u_ *(,@)&,&@) -@$$,!)%,@$^_

o; jif{sf] ;Dk"0f{ ultljwLaf6 v"b gub k|jfx = -s_+-v_+-u_ !^,!^(,!*@ &,#((,)(%gub tyf a}+sdf /x]sf] z'? df}Hbft %@,^*^,*^& $%,@*&,&&#

gub tyf a}+sdf /x]sf] clGtd df}Hbft ^*,*%^,)$( %@,^*^,*^&

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=@)^% >fj0f ! Uft]b]lv @)^^ cfiff9 d;fGt;Ddsf] gub k|jfxsf] ljj/0f

ljj/0fqm=;+= o; aif{ ut aif{




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rf6{8{ Psfp06]06;\

- 31 -

8 th


cf}+*S.N. Particulars Current Year Previous Year

A Cash flow from operating activitiesPremium Income 1,195,827,662 900,682,700Late fee Income 8,835,730 6,602,780Re-Insurance Income -aaa -aaaRe-Insurance Commission Income -aaa -aaaOther Direct Income -aaa -aaaClaimed recevory from Re-Insurer 566,791 -aaaRe-Insurance Premium Paid (3,042,996) (1,309,273)Re-Insurance commission payment -aaa -aaaAgent commission payment (145,125,891) (110,697,677)Medical examination fee payment (2,926,608) (2,212,388)Death claim payment (23,157,499) (15,173,528)Maturity claim payment (7,656,550) (5,551,367)Partial-maturity claim payment (44,854,548) (16,080,526)Surrender value claim payment (27,863,988) (21,381,735)Other claim payment -aaa -aaaService fee payment (9,006,827) (7,242,558)Management expenditure payment (101,895,360) (47,084,529)Bonus Paid to Employees (509,190) -aaaIncome Tax Paid -aaa -aaa(Increase)/decrese in current assets (37,374,583) (25,668,152)(Increase)/decrese in current liabilities 23,173,827 10,462,173Net Cash Flow from Operaing activities (A) 824,989,971 665,345,920

B Cash flow from Investing Activities(Increase) Decrease in fixed assets (15,368,574) (1,323,206)(Increase) Decrease in investment in government guaranteed securities (275,634,596) (260,575,491)(Increase) Decrease in investment in fixed deposit of bank and financial institution (685,000,000) (102,000,000)(Increase) Decrease in investment in other deposit of bank and financial institution (2,727,504) (5,474,672)Increase/Decrease in Equtity Share Investments (40,513,013) (69,448,358)(Increase) Decrease in investment in preference share/debenture (2,050,000) (29,170,000)(Increase) Decrease in other investment (Premium on Investment) (11,677,431) (21,107,770)(Increase) Decrease in loans against insurance Policy (73,656,177) (67,630,697)(Increase) Decrease in other loans and advances (9,034,965) (9,218,250)Interest Income From Investment 202,685,237 136,724,897 Dividend Received 1,892,338 734,098Rental income -aaa -aaaInterest On Policy Loan 11,322,665 5,750,622Others Indirect Income 1,733,510 8,897,249Net Cash Flow from Investing Activities (B) (898,028,509) (413,841,580)

C Cash flow from Financing ActivitiesAmount received from Shares -aaa -aaa(Increase) Decrease in o/s debt -aaa -aaaIncrease/Decrease in short term debt 129,733,341 (239,028,968)Interest Paid on Loan and Debt (3,025,621) (5,076,277)Dividend paid (37,500,000) -aaaNet cash flow from Financing Activities (C) 89,207,720 (244,105,246)Net cash flow from overall activities of this year = (A + B + C) 16,169,182 7,399,095Opening Balance of Cash & Bank Balance 52,686,867 45,287,773Closing Balance of Cash & Bank Balance 68,856,049 52,686,867

Life Insurance Corporation (Nepal) Ltd.Cash Flow Statement for the Period of 16th July 2008 to 15th July 2009












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- 37 -

8 th



1 Income from Government Securities & Securities Guaranteed by Govt. 47,876,561 36,497,6092 Income from fixed deposit of Commercial Banks 100,874,340 64,052,5923 Income from fixed deposit of Development Banks 12,917,911 10,866,2374 Income from Investment in CIT 1,000,000 1,000,0005 Income from fixed deposit of Finance Company 21,025,129 11,481,6666 Dividend income from the ordinary shares of housing finance company -aaa -aaa7 Dividend income from ordinary shares of other public company 1,080,828 54,3738 Dividend income from preference share of bank and financial institution 811,510 679,7259 Income from debenture of bank and financial institution 16,053,674 13,372,80410 Income from Others (Advances) 1,666,022 1,113,91511 Income from Loan -aaa -aaa12 Income from Other Depsit (Except Fixed) 1,258,406 638,65713 Profit on sale of investment -aaa -aaa

Less : Loss on sale of Investment -aaa -aaa14 Profit on purchase of investment 246,740 8,879,324

Less : Loss on purchase of Investment (5,354,993) (4,363,317)15 Profit on sale of fixed assets 1,486,770 -aaa

Less : Loss on sale of Fixed Assets -aaa -aaa16 Written Off/Amortized -aaa -aaa17 Incomes related to Previous year’s -aaa -aaa18 Other Income (Share Transaction) 13,195 8,925

Total 200,956,093 144,282,508

Appopriation of income from investment, loan and othersTransferred to profit and loss account 11,246,228 13,608,989Transferred to Reveue Account of Endowment 119,422,996 91,389,689Transferred to Revenue Account of Anticipated Endowment 41,324,649 28,800,393Transferred to Revenue Account of Modified Endowment 28,167,364 10,483,437Transferred to Revenue Account of Whole Life Policy 737,951 -aaaTransferred to Revenue Account of Special Term Policy 56,906 -aaa

Total 200,956,093 144,282,508

Schedule - 2

Income from Investment, Loans and Other Sources












- 38 -

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As p

er o

ur re

port

of e

ven

date

B. K

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awal,

FCA

Sr. P

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r B.K

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Net

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Re-in

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- 43 -

8 th



1 Employee Expenses (Anx 7.1) 15,618,372 14,741,4082 Building Rent 4,335,401 3,952,5093 Water & Electricity 867,793 704,5324 Repair & Maintenance

A. Building 786,640 24,386B. Vehicle 772,052 763,348C. Office Equipment 450,620 319,969D. Others -aaa -aaa

5 Communication 1,544,550 1,551,8606 Printing and Stationary 2,587,669 1,658,3507 Non Capital Office Items 48,213 11,0778 Transportation 357,909 262,7019 Travelling Expenses (Including Allowance) -aaa -aaa

A. Internal 825,880 785,967B. International 206,470 141,528

10 Agent Trainning 521,345 503,97211 Other Agents Expenses 52,837,090 18,604,40712 Insurance premium 1,412,224 702,32313 Security Expenses 342,284 356,44614 Legal and Consultancy Fees 66,820 69,72015 Books & Periodicals 53,741 103,46216 Advertisement and Publicity 2,973,829 1,909,11717 Business promotion -aaa -aaa18 Entertainment Expenses 108,900 95,91719 Donation and Awards -aaa -aaa20 Board Committee Expenses

A. Meeting Allowance 170,000 114,000B. Others 676,201 343,452

21 Other Committee/ Sub Committee ExpensesA. Meeting Allowance 12,000 -aaaB. Others -aaa -aaa

22 Expenses relating general meeting 638,022 383,74523 A. Acturial Service Fee -aaa -aaa

B. Acturial Expenses -aaa -aaa24 Audit Expenses

A. Audit Fee 96,050 96,050B. Tax Audit Fee 48,025 39,550C. Long Form Audit Fee 50,850 -aaaD. Other Fee -aaa -aaaE. Internal Audit Fee 282,500 -aaaF. Others Expenses 64,797 12,473

25 Interest 3,025,621 5,076,27726 Bank charges 209,901 194,562

Schedule - 7

Management Expenditure

Contd. Page No. 46

- 44 -

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- 45 -

8 th


cf}+*Schedule - 7 contd.

Schedule - 7.1


27 Fee and charges 3,764,706 (2,990,882)28 Depreciation 4,290,685 1,674,19729 Stamps 664,937 490,49530 Other 2,192,461 1,138,087

Total 102,904,559 53,835,004

Total for DistributionTransferred to profit and loss account 10,290,456 5,383,500Transferred to Revenue Account of Endowment 40,483,556 22,128,434Transferred to Revenue Account of Anticipated Endowment 21,848,878 12,887,909Transferred to Revenue Account of Modified Endowment 29,002,008 13,435,161Transferred to Revenue Account of Whole Life Policy 1,188,046 -aaaTransferred to Revenue Account of Special Term Policy 91,614 -aaa

Total 102,904,559 53,835,004


1 Salaries 8,065,889 7,628,9422 Allowances 4,371,037 4,485,0623 Dasain Expenses 727,855 537,3724 Company's Contribution to Providend Fund 721,770 644,2965 Training expenses 9,800 16,0006 Dress Allowance -aaa -aaa7 Medical Expenses 145,523 230,1558 Insurance 239,681 180,0139 Provision on pension and gratuity 380,475 398,89110 Expenses & Provision For Leave Encashment 737,218 -aaa11 Provision for other Facilities -aaa -aaa12 Other

A. Education Expenses 57,167 71,388B. Incentive to Marketing Officials 98,500 162,750C. Recruiting Expenses -aaa -aaaD. Employee Benefit Misc. 42,488 120,142E. Relocation Expenses 20,970 266,396

Total 15,618,372 14,741,408

Employee Expenses












- 46 -

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- 47 -

8 th


cf}+*Income Tax

Schedule - 8












- 48 -


1 Income Tax of current year 23,651,037 19,381,321Total Income Tax For Appropriation 23,651,037 19,381,321

AppropriationTransferred to profit and loss account 234,107 1,762,579Transferred to Revenue Account of Endowment 18,776,406 14,316,735Transferred to Revenue Account of Anticipated Endowment 4,640,524 3,302,008Transferred to Revenue Account of Modified Endowment -aaa -aaaTransferred to Revenue Account of Whole Life Policy -aaa -aaaTransferred to Revenue Account of Special Term Policy -aaa -aaa

Total 23,651,037 19,381,321

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- 51 -

8 th


cf}+*L

IF

E I

NSU

RA

NCE

FU

ND

Sche

dule

- 11

Curre

nt Ye

ar-

Prev

ious

Yea

rCu

rrent

Year

-Pr

evio

us Y

ear

Curre

nt Ye

ar-

Prev

ious

Yea

rCu

rrent

Year

-Pr

evio

us Y

ear

1En

dowm

ent

1,747

,451,0

781,3

27,59

4,659

487,0

79,00

641

9,856

,419

-aaa

-aaa

2,234

,530,0

841,7

47,45

1,078

2An

ticipa

ted En

dowm

ent

554,9

89,66

536

9,932

,211

211,1

44,40

418

5,057

,454

-aaa

-aaa

766,1

34,06

955

4,989

,665

3Mo

dified

End

owme

nt18

9,888

,313

72,36

431

9,737

,081

189,8

15,94

9-aa

a-aa

a50

9,625

,394

189,8

88,31

34

Who

le Lif

e Poli

cy-aa

a-aa

a12

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91-aa

a-aa

a-aa

a12

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91-aa

a5

Spec

ial Te

rm P

olicy

-aaa

-aaa

989,6

47-aa

a-aa

a-aa

a98

9,647

-aaa

Tota

l2,4

92,32

9,056

1,697

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341,0

31,75

6,429

794,7

29,82

2-aa

a-aa

a3,5

24,08

5,485

2,492

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56

Type

s of In

sura

nce

Life I

nsura

nce F

und B

efore

Adjus

tmen

t (Beg

inning

of th

e Yea

r)Tr

ansf

erre

d Fro

mpr

ofit

& Lo

ss A

/CTr

ansf

erre

d Fro

mRe

venu

e Acc

ount

Life

Insu

ranc

e Fun

d Bef

ore

Adju

stm

ent (

End O

f the

Year

)S.

N.

Adju

stm

en

t i

n L

ife I

nsu

ran

ce F

un

d

Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

1E

ndow

men

t2,

234,

530,

084

1,74

7,45

1,07

866

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-aaa

599,

391,

823

-aaa

2A

ntic

ipat

ed E

ndow

men

t76

6,13

4,06

955

4,98

9,66

522

,029

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-aaa

197,

364,

308

-aaa

3M

odifi

ed E

ndow

men

t50

9,62

5,39

418

9,88

8,31

39,

946,

940

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89,5

22,4

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aa4

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le L

ife P

olic

y12

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ecia

l Ter

m P

olic

y98

9,64

7-a

aa-a

aa-a

aa-a

aa-a

aa

Tota

l3,

524,

085,

485

2,49

2,32

9,05

698

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,398

-aaa

886,

278,

590

-aaa

Type

s of

Insu

ranc

eLife

Insura

nce Fu

nd Be

fore A

djustm

ent (En

d of th

e Year

)Li

abili

ties

Und

er P

olic

yTr

ansf

erre

d To

Pro

fit &

Los

s Acc

ount

S.N. Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

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rent

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rPr

evio

us Y

ear

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rent

Yea

rPr

evio

us Y

ear

-aaa

-aaa

451,

805,

108

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28,6

36,8

78-a

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168,

030,

993

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0,55

7,73

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429,

387

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744,

104,

702

554,

989,

665

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201,

572,

408

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4,27

7,07

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9,67

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aa-a

aa-a

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aa-a

aa-a

aa12

,806

,291

-aaa

-aaa

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989,

647

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843,

935,

250

-aaa

42,3

43,3

40-a

aa3,

425,

610,

087

2,49

2,32

9,05

6

Prov

isio

n fo

r Bon

usLi

fe in

sura

nce f

und a

t the

end o

f the

year

Una

lloca

ted

Am

ount

Prov

isio

n Fo

r Sol

venc

y M

argi

n

As p

er o

ur re

port

of e

ven

date

B. K

. Agr

awal,

FCA

Sr. P

artn

erFo

r B.K

. Agr

awal

& C

o.Ch

arte

red

Acco

unta

nts

Bipi

n Ku

mar

Lal

Fina

nce O

ffice

rDe

vojit

San

yal

Asst

. Gen

eral

Mana

ger

Mur

alee

dhar

an. P

CEO/

Dire

ctor

Raje

ndra

Ary

alDi

rect

orS.

K. M

ukha

rjee

Dire

ctor

Asho

k Agr

awal

Dire

ctor

A.K.

Das

Gup

taDi

rect

or T.

S. V

ijaya

nCh

airm

an

- 52 -

��cg';"rL – !@

Joj:yf lkmtf{

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hDdf –sss –sss





/fh]Gb| cof{n;+rfns

P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf



rf6{8{ Psfp06]06;\

- 53 -

cg';"rL – !#ckn]vg vr{x?

!= k|f/lDes vr{x? –sss –ss@= k"j{ ;+rfng vr{x? –sss –ss#= k/ ;fl/Psf vr{x? –sss –ss$= ckn]vg ul/Psf] nufgL –sss –ss%= ckn]vg ul/Psf] shf{ –sss –ss^= ckn]vg ul/Psf] cf;fdL –sss –ss&= cGo ckn]vg –sss –ss

hDdf –sss –ss


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!= b08 hl/jfgf –sss –sss@= ljnDa z'Ns hl/jfgf –sss –sss#= cGo –sss –sss

hDdf –sss –sss


8 th



1 Provision For Loss on Investment Written Back -aaa -aaa2 Provision For Loss on Loan Written Back -aaa -aaa3 Provision For Doubtful Debt Written Back -aaa -aaa4 Other Provision Written Back -aaa -aaa

TOTAL -aaa -aaa

Schedule - 12

Provision Written Back


1 Preliminary expenses -aaa -aaa2 Pre-operating expenses -aaa -aaa3 Deferred expenses -aaa -aaa4 Investment Written Off -aaa -aaa5 Loan Written Off -aaa -aaa6 Debtors Written Off -aaa -aaa7 Other Written Off -aaa -aaa

Total -aaa -aaa

Schedule - 13

Written Off Expenditure


1 Fine & Penalties -aaa -aaa2 Late Fee & Fine -aaa -aaa3 Other -aaa -aaa

Total -aaa - aaa

Schedule - 14

Other Expenditures












- 54 -

��


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rf6{8{ Psfp06]06;\

- 55 -

8 th



1 Provision For loss on Investment 3,340,532 861,8222 Provision For loss on loan -aa -aaa3 Provision For Doubtful Debt -aa -aaa4 Other Provision -aa -aaa

Total 3,340,532 861,822

Schedule - 15Provision for Losses


1 Authorised capitalA. 2500000 Equity Shares worth Rs. 100/- Each 250,000,000 250,000,000B. …………. Non Reedeemable Preferred worth Rs. …. Each -aaa -aaaC. …………. Reedeemable Preferred worth Rs. …. Each -aaa -aaa

2 Issued CapitalA. 2500000 Equity Shares worth Rs. 100/- Each 250,000,000 250,000,000B. …………. Non Reedeemable Preferred worth Rs. …. Each -aaa -aaaC. …………. Reedeemable Preferred worth Rs. …. Each -aaa -aaa

3 Paid up capitalA. 2500000 Equity Shares worth Rs. 100/- Each 250,000,000 250,000,000Less: Receivable Paid up ….. Shares worth ….B. …………. Non Reedeemable Preferred worth Rs. …. Each -aaa -aaaC. …………. Reedeemable Preferred worth Rs. …. Each -aaa -aaa

Total 250,000,000 250,000,000

Schedule - 16

A. Share Capital












- 56 -

��

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qm=;+= ljj/0f o; jif{ ut jif{

!= k"“hLut hu]8f –ss –sss@= ljz]if hu]8f –ss –sss#= cGo hu]8f –ss –sss$= z]o/ lk|ldod –ss –sss%= k|:tfljs jf]gz z]o/ –ss –sss^= gfkmf gf]S;fg lx;faf6 ;f/]sf] gfkmf $),$@^,*)^ (,*%(,)#@

hDdf $),$@^,*)^ (,*%(,)#@

cg';"rL – !&hu]8f tyf sf]if

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;+:yfks




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P;=s]= d'vhL{;+rfns

czf]s cu|jfn;+rfns


l6=P;= ljhogcWoIf



rf6{8{ Psfp06]06;\

- 57 -

!= ef/tLo hLjg aLdf lgud %%% !#&,%)),))) %%% !#&,%)),)))@= lazfn u|'k @%% ̂ @,%)),))) @%% ̂ @,%)),)))#= uf]ljGb ;f+3fO{ !=)#% @,%&(,))) –s –xxs

ljj/0fo; aif{

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/sd

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ut aif{

:jfldTjsf] % /sd

8 th


cf}+*Schedule - 16 cond.

B. Ownership Structure of Share

PromotorNepali Organised institution 625,000 25% 625,000 25%Nepalese citizen -aaa -aa -aaa -aaForeigner 1,375,000 55% 1,375,000 55%Total 2,000,000 80% 2,000,000 80%General public 500,000 20% 500,000 20%Other

Total 2,500,000 100% 2,500,000 100%

Share HolderCurrent Year Previous Year

No. of equity share % of ownership No. of ordinary share % of ownership












- 58 -

1 Life Insurance Corporation Of India 55% 137,500,000 55% 137,500,0002 Vishal Group ( Nepal) 25% 62,500,000 25% 62,500,0003 Govind Sanghai 1.03% 2,579,000 -aa -aaa

ParticularCurrent year Previous year

% of ownershipS.N.

Amount % of ownership Amount

C. Details having one or more than one percentage of Shares


1 Capital reserve -aaa -aaa2 Special reserve -aaa -aaa3 Other reserve (Details) -aaa -aaa4 Share premium -aaa -aaa5 Proposed Bonus Share -aaa -aaa6 Profit transferred from profit and loss a/c 40,426,806 9,859,032

Total 40,426,806 9,859,032

Schedule - 17

Reserve and Surplus

��

– – – – – –– – – – – –

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cg';"rL – !*dxf–ljklQ hu]8f

o; aif{ ut aif{

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o; aif{ ut aif{ o; aif{ ut aif{

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rf6{8{ Psfp06]06;\

- 59 -

8 th


cf}+*Schedule - 18

- - - - - -- - - - - -

Catastrophe Reserve at the Beginning of the Year Transferred from P & L A/c Catastrophe Reserve at the End of the Year

Catastrophe Reserve

Current Year Previous Year Current Year Previous Year Current Year Previous Year


1 Debenture / Bond -aaa -aaa2 Bank -aaa -aaa3 Financial Institution -aaa -aaa4 Others (Detail to be disclosed) -aaa -aaa

Total -aaa -aaa

Schedule - 19

Long Term Loan and Borrowing












- 60 -

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ven

date

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- 62 -

Sche

dule

- 20

Fix

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ars

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/fh]Gb| cof{n;+rfns

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rf6{8{ Psfp06]06;\

- 63 -

8 th



(A) Long term investment1 Government Securities & Securities Guranteed by Government 929,375,000 650,448,5822 Fixed deposit of commercial bank 1,107,500,000 957,500,0003 Fixed deposit of development bank 135,000,000 110,000,0004 Plans of citizen investment Trust 16,000,000 16,000,0005 Fixed deposit of financial institutuion 345,500,000 129,400,0006 Equity share of housing finance company -aaa -aaa7 Equity share of other company 118,818,935 78,305,9228 Preference share/debenture of bank and financial institution 254,367,770 252,317,7709 Other -aaa -aaa

Total (A) 2,906,561,705 2,193,972,274

(B) Short term investment1 Government Securities & Securities Guranteed by Government 12,298,582 15,590,4042 Interest Bearing Deposit of Commercial Bank 616,221,383 248,385,7983 Interest Bearing Deposit of Development Bank 5,000,000 65,108,0824 Interest Bearing Deposit of other Financial Institution 43,900,000 55,000,0005 Other Interest Bearing Investment

Total (B) 677,419,965 384,084,283

Total (A+B) 3,583,981,670 2,578,056,557

Schedule - 21

(A) Investment












- 64 -

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- 65 -

8 th


cf}+*

As p

er o

ur re

port

of e

ven

date

B. K

. Agr

awal,

FCA

Sr. P

artn

erFo

r B.K

. Agr

awal

& C

o.Ch

arte

red

Acco

unta

nts

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n Ku

mar

Lal

Fina

nce O

ffice

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yal

Asst

. Gen

eral

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ger

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S. V

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- 66 -

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Sche

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- 21

con

d.

(B

) I

nvestm

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t in

sh

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Com

pany

Purc

hase

Pric

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ce Va

lueNe

t Am

ount

Note:

1) In

sure

r's in

vestm

ent in

shar

e of s

ister

/Hold

ing co

mpan

y and

joint

inve

stmen

t com

pany

has t

o be m

entio

ned s

epar

ately.

2) in

vestm

ent m

ade i

n sha

re no

t enli

sted a

s per

rule

has t

o be m

entio

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epar

ately

.3)

Sep

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ly to

be di

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ed of

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otor s

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and o

ther o

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Mark

et Pr

iceS.

N.

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rf6{8{ Psfp06]06;\

- 67 -

8 th


cf}+*

S.N. Particular Current Year Previous Year

(A) Long Term Loan1 Loan To Agents -aaa -aaa2 Loan To Employees 4,189,196 2,865,7893 Other -aaa -aaa

Total (A) 4,189,196 2,865,789

(B) Short Term Loan1 Loan To Agents 23,805,259 16,093,7012 Loan To Employees -aaa -aaa3 Other -aaa -aaa

Total (B) 23,805,259 16,093,701

Total (A+B) 27,994,454 18,959,490

Schedule - 23

Other Loan


1 Cash Balance 15,272,544 7,499,715

Total (A) 15,272,544 7,499,715

2 Bank BalanceDeposit In Commercial Banks 53,583,504 44,062,023Deposit In Development Banks -aaa 1,125,129Deposit in Financial Institutions -aaa -aaaOther -aaa -aaa

Total (B) 53,583,504 45,187,152

Total (A+B) 68,856,049 52,686,867

Schedule - 22

Cash and Bank Balance












- 68 -

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- 69 -

8 th


cf}+*S.N. Particular Current Year Previous Year

1 Interst Receivable Against Investment 29,697,181 31,902,7752 Interest Receivable Against Policy Loan 10,603,408 4,919,5843 Other Interest Receivable against loan(except of Policy Loan) -aaa -aaa4 Receivable From Other Insurer (Insurance Pool) -aaa -aaa5 Due from re-Insurer 63,658 -aaa6 Miscellaneous Debtors -aaa -aaa7 Advance Tax 86,350,977 56,282,6958 Staff advance 52,739 21,6129 Other advance 159,475 60,68910 Security Deposit 198,500 223,50011 Outstanding insurance premuim -aaa -aaa12 Less: outstanding insurance premium suspense -aaa -aaa13 Others -aaa -aaa

a) Prepaid S. B. Claims 3,659,500 -aaa

Total 130,785,437 93,410,854

Schedule - 24Other Assets

S.N. Particular Current Year Previous Year

1 Due to Agent 8,599,150 3,919,1062 Due to other Insurer -aaa -aaa3 Due to re-insurer -aaa 1,233,9954 Deposit premium 11,279,470 6,912,6875 Unidentified Premium 31,958,647 24,762,0766 Miscellaneous creditor 5,243,245 4,593,2267 Short term loans 129,733,341 -aaa8 Due to Associate/Holding company -aaa -aaa9 TDS Payable 141,605 4,747,15410 Income Tax Payable 65,056,661 41,405,62411 Service Charges Payable to Beema Samiti 11,958,277 9,006,82712 Payable To Directors -aaa -aaa13 Others -aaa -aaa

Defferred Tax Liabilities 6,207,990 -aaaCheque issued But Not Encashed 4,347,432 -aaa

Total 274,525,817 96,580,695

Schedule - 25Current Liability












- 70 -

��




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- 71 -

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–sss–sss–sss

–sss

–sss–sss–sss

–sss

! =============== aLdfsf] c;dfKt hf]lvd hu]8f@ =============== aLdfsf] c;dfKt hf]lvd hu]8f# =============== aLdfsf] c;dfKt hf]lvd hu]8f

hDdf

8 th



1 Unxpired risk provision of ……………… insurance -aaa -aaa2 Unxpired risk provision of ……………… insurance -aaa -aaa3 Unxpired risk provision of ……………… insurance -aaa -aaa

Total -aaa -aaa

Schedule - 26

Provision for Unexpired Risk












- 72 -

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–sss –sss #*,!$),^$) @,@(*,%*@ ^$,!&(,)!* #(,%#&,)*&

gf]6 M Joj:yf lkmtf{ lzif{s cGt{ut b]vfO{Psf] /sd e'QmfgL ul/Psf] /sd xf] .

rfn' cf= j= df ckn]vg rfn' cf= j= df lkmtf{ ul/Psf] Joj:yf jif{sf] cGtdf sfod /x]sf] Joj:yf

o; aif{ ut aif{ o; aif{ ut aif{o; aif{ ut aif{




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- 73 -

8 th


cf}+*Schedule - 26 (A)

Other Provision

1. Provision for Dividend 37,500,000 -aaa 50,000,000 37,500,0002. Provision for loss on Investment 861,822 2,298,582 3,340,532 861,8223. Provision for loss on Loan -aaa -aaa -aaa -aaa4. Provision for Bad Debts -aaa -aaa -aaa -aaa5. Provision for other Loss -aaa -aaa -aaa -aaa6. Provision for Employees

a) Pension and Gratuity 666,075 437,100 380,475 228,975b) Leave Encashment -aaa -aaa 326,051 -aaac) Housing and other Benefit -aaa -aaa -aaa -aaad) Bonus 509,190 -aaa 8,735,513 509,190e) Others -aaa -aaa -aaa -aaa

7. Other Provision -aaa -aaa -aaa -aaa

Total 39,537,087 2,735,682 62,782,571 39,099,987

ParticularCurrent Year Previous Year Current Year

S.N.Previous Year

Provision at Beiging of the Year Provision for the Year

-aaa -aaa 37,500,000 -aaa 50,000,000 37,500,000-aaa -aaa -aaa 2,298,582 4,202,354 861,822-aaa -aaa -aaa -aaa -aaa -aaa-aaa -aaa -aaa -aaa -aaa -aaa-aaa -aaa -aaa -aaa -aaa -aaa-aaa -aaa -aaa -aaa -aaa-aaa -aaa 131,450 -aaa 915,100 666,075-aaa -aaa -aaa -aaa 326,051 -aaa-aaa -aaa -aaa -aaa -aaa -aaa-aaa -aaa 509,190 -aaa 8,735,513 509,190-aaa -aaa -aaa -aaa -aaa -aaa-aaa -aaa -aaa -aaa -aaa -aaa

-aaa -aaa 38,140,640 2,298,582 64,179,018 39,537,087

Note : Under the column of return on current year, amounts have been paid not return on.

Current Year Previous Year Current Year Previous Year

Written Back for the Year Provision at the end of the YearAmortized for the Year

Current Year Previous Year












- 74 -

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ckn]vg÷;dfof]hg x'g af“sL ljljw vr{x?


–sss–sss

^!,#$^,%%^–sss

^!,#$^,%%^

–sss–sss

%%,)@$,!!&–sss

%%,)@$,!!&

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hDdf




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- 75 -

8 th



1 Preliminary expenditure (To the extent not written off) -aaa -aaa2 Pre-operation expenditure (To the extent not written off) -aaa -aaa3 Deferred expenses (To the extent not written off) 61,346,556 55,024,1174 Other (To the extent not written off) -aaa -aaa

Total 61,346,556 55,024,117

Schedule - 27

Miscellaneous Expenses (To the not adjusted /amortize)












- 76 -

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nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=

ljQLo ljj/0f;+u ;DalGwt k|d'v n]vf gLltx?

sDkgLsf] k[i7e'ld M

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln= sDkgL P]g cg';f/ @^l8;]Dj/ @))) df :yfkgf ul/Psf] xf] . o; sDkgLsf k|d'v;+:yfks z]o/wgLx?df ef/tLo hLjg aLdf lgud -%%%_/ ljzfn u|'k -@%%_ sf] nufgL /x]sf] 5 . o; sDkgLdf;j{;fwf/0fsf] @)% z]o/ /x]sf] 5 . of] ;+:yf aLdf ;ldltaf6Ohfht kq k|fKt eO{ / ;f] ;ldltaf6 cg'udg ug]{ hLjg aLdfsDkgL xf] . ! ;]K6]Dj/ @))! b]lv sDkgL ;+rfngdf cfPsf]lyof] .

k|d'v n]vf gLltx? M

!= n]vfdfgsf cjwf/0ffx? M ljQLo ljj/0fx? P]ltxfl;snfut l;4fGt tyf :ki6 ?kdf pNn]v ul/Psf] cj:yfdfafx]s k|f]befjL (Accrual) l;4fGtsf] cfwf/df laBdfgg]kfn n]vfdfgx?, sDkgL P]g @)^#, aLdf lgodfjnL @)$(/ aLdf ;ldltsf] laBdfg ljQLo ljj/0f ;DjlGw ljQLolgb{]lzsf @)^% cg';f/ tof/ ul/Psf] 5 .

@= l:y/ ;DklQ n]vf°g gLlt M l:y/ ;DklQnfO{ P]ltxfl;sd"No cjwf/0ff cg';f/ n]vf°g ul/Psf] 5 .

#= s_ x|f; s§L gLlt M l:y/ ;DklQdf 36\bf] x|f; k|0ffnLsf]b/n] x|f; s§L ul/Psf] 5 . ljljw ;Dklt zLif{sx?cGtu{t lgDgfg';f/sf] x|f; s§L b/ ckgfOPsf] 5-aLdf ;ldltaf6 tf]lsPsf] zLif{sx?_ .

;Dkltsf] k|sf/ x|f; s§L b/

kmlg{r/ / lkmS;/x? @%%

sfof{no ;fdfu|L @%%

sDKo'6/ / O=l8=lk= @%%

cb[Zo ;DklQ @%%

Schedule - 28


Significant Accounting Policies

Background of the Company :

Life Insurance Corporation (Nepal) Limited was establishedunder the Companies Act of Nepal, on December 26, 2000.The principal promoters of the company are Life InsuranceCorporation of India (55%) and Vishal Group of Nepal (25%).The General Public holds 20% shares in the company. Thecompany is licensed and monitored by Insurance Board ofNepal and commenced its operation on September 1, 2001.

Significant Accounting Policies :

1. Basis of Accounting: Financial Statements areprepared in accordance with the historical costconvention, on accrual basis of accounting (exceptotherwise disclosed) and in accordance with relevantNepalese Accounting Standards, presentationrequirements of the Company Act, 2063 and InsuranceRules 2049 and Financial Directives 2065 of InsuranceBoard of Nepal.

2. Fixed Assets : Fixed Assets are accounted inaccordance with historical cost concept.

3. a) Depreciation : Depreciation is charged onWritten Down Value method over the estimateduseful lives of fixed assets. The depreciation ratesapplied for various assets categories are asfollows (Categories prescribed by Beema Samiti) :

Types of Property Depreciation Rate

Furniture & Fixtures 25%

Office Equipment 25%

Computer and EDP 25%

Intangible Assets 25%

- 77 -

8 th


cf}+*lnhdf lnOPsf] ;Dklt @%%

;jf/L ;fwgx? @)%

cGo ;Dkltx? @%%

v_ l:y/ ;DklQ vl/b u/]sf] csf]{ dlxgfb]lv x|f; s§Lul/ vr{ n]Vg] Aoj:yf ul/Psf] 5 . laqmL tyf ckn]vgul/Psf] l:y/ ;DklQsf] xsdf laqmL tyf ckn]vgx'g'eGbf cufl8sf] dlxgf;Dd x|f; s§L ul/Psf] 5 .

$= k"“hLs[t gul/g] ;DklQx? ;DaGwL n]vf°g gLlt M¿= @,))).)) eGbf sd d"No kg]{ k'“hLut ;fdfgsf]vl/bnfO{ v/Lb u/]sf] jif{df g} gfkmf gf]S;fg lx;fadf vr{n]lv n]vf°g ug]{ gLlt lnOPsf] 5 .

%= cfos/ M

s_ cfos/ Joj:yf tyf af“8kmf“8 gLlt M cfos/ Joj:yf;DaGwdf aLdf Aoj;fo afx]ssf] cfDbfgLdf Aoj:yfkgvr{ / :yug vr{nfO{ 36fO{ cfPsf] artdf cfos/P]g @)%* cg';f/s} b/af6 cfos/ Aoj:yf ul/Psf]5 . ljQLo ljj/0f ;DaGwdf aLdf ;ldtLsf] ljQLolgb]{lzsf @)^% cg';f/ ef/ lgwf{/0f u/L s"n cfos//sdnfO{ gfkmf gf]S;fg lx;fa / cfo Aoo lx;fadflgwf{l/t ef/sf] cg'kftdf af“8kmf“8 ul/Psf] 5 .

v_ :yug s/ M :yug s/ ;DklQnfO{ s/of]Uo cfo /n]vfut cfosf] aLrsf] ;dofGt/ adf]lhd n]vf°gul/Psf] 5 . :yug bfloTjnfO{ rfn' bfloTj zLif{scGtu{t b]vfO{Psf] 5 . o; cf= j= @)^%÷)^^-c;f/ #!, @)^^ ;Dd_ nfO{ gfkmf gf]S;fg lx;fadfvr{ n]lvPsf] 5 h'g g]kfn n]vfdfg ( adf]lhd/x]sf] 5 .

^= nufgL n]vf°g gLlt M

s_ ;/sf/L artkq÷C0fkqdf nufgL n]vf°g gLlt MljQLo ljj/0f ;DalGwt aLdf ;ldtLsf] ljQLo lgb{]lzsf@)^% cg';f/ sDkgLn] ;/sf/L artkq÷C0fkqdful/Psf] nufgLnfO{ nfut d"No jf c+lst d"No dWo]h'g sd 5 ;f]xL b/df n]vf°g ug]{ gLlt lnPsf] 5 .

Lease Hold Assets 25%

Vehicles 20%

Others Assets 25%

b) Depreciation is provided on the fixed assets fromthe subsequent month of the purchase date andin case of sale, it is charged up to the prior monthof such disposal or sale.

4. Non Capitalized Assets : Capital Items for less thanRs. 2,000/- has been treated as Revenue Expenditurein the year of purchase.

5. Income Tax :

a) Provision and Appropriation : Income taxprovision has been made at the rates prescribedby Income tax act 2058 and amendments theretoon the surplus derived from the income from otherthan insurance business, after deductingmanagement expenditure and deferredexpenditure. Income Tax has been divided intoProfit & Loss Account and Revenue Account asper the derived weights of Profit & Loss Accountand Revenue Account as prescribed by financialdirectives 2065 of Insurance Board of Nepal.

b) Deferred Tax : Deferred tax is recognized andprovided for on timing differences between taxableincome and accounting income. Deferred liabilityis presented under the current liabilities andcharged in current year profit & loss account till15.07.2009 as per NAS 9.

6. Policy on Investment Accounting :

a. Accounting Policy regarding Investment inGovernment Saving Bond/Debenture inPublic Companies: As per Financial directives2065 of Insurance Board of Nepal, the companyhas adopted the policy of accounting for investmentmade in Government Saving Bonds and Debentureson cost price or face value whichever is less. In

- 78 -

��c+lst d"No eGbf nfut d"No al9 ePsf] v08df To:tf]al9 /sdnfO{ :yug vr{df /fvL To:tf] artkq÷C0fkqsf] e'QmfgL cjlwleq k|To]s aif{ ;dfg'kflts?kdf vr{ n]lvg] / nfut d"No eGbf c+lst d"No al9ePsf] v08df To:tf] /sdnfO{ k|f]befjL (Accrual)cfwf/df nufgLdf d'gfkmf zLif{s cGtu{t n]vf°g ug]{gLlt lnOPsf] 5 . o:tf] nufgLsf] ahf/ d"No lstfaLd"No eGbf sd ePdf sd ePsf] /sd a/fa/ ;DefljtnufgL gf]S;fgL Aoj:yfdf hDdf ug]{ u/]sf]] 5 .

v_ a}+s÷ljQLo ;+:yfsf] d'2tL lgIf]kdf nufgL n]vf°ggLlt M ljQLo ljj/0f;+u ;DalGwt aLdf ;ldltsf]ljQLo lgb{]lzsf @)^% cg';f/ sDkgLn] a}+s÷ljQLo;+:yfsf] d'2tL lgIf]kdf u/]sf] nufgLnfO{ ;f“jf/sddf n]vf°g ug]{ gLlt lnPsf] 5 .

u_ klAns lnld6]8 sDkgLsf] z]o/df nufgL n]vf°ggLlt M klAns lnld6]8 sDkgLsf] ;fwf/0f z]o/dful/Psf] nufgLnfO{ ut jif{;Dd nfut d"No jf ahf/d"No h'g sd 5 ;f]xL cg';f/ n]vf°g ul/Psf]lyof] . t/ of] jif{b]lv ;f] nufgLnfO{ nfut d"Nodfn]vf°g ul/Psf] 5 . nfut d"No eGbf ahf/ d"Nosd ePsf] /sd a/fa/ ;Defljt nufgL gf]S;fgLJoj:yfdf hDdf ug{] u/]sf] 5 .

3_ klAns lnld6]8 sDkgLn] hf/L u/]sf] C0fkqx?dfnufgL n]vf°g gLlt M ljQLo ljj/0f ;DalGw aLdf;ldltsf] ljQLo lgb]{lzsf @)^% cg';f/ sDkgLn]klAns lnld6]8 sDkgLn] hf/L u/]sf] C0fkqx?dfu/]sf] nufgLnfO{ nfut d"No jf c+lst d"No dWo] h'gsd 5 ;f]xL b/df n]vf°g ug]{ gLlt lnPsf] 5 . nfutd"No c+lst d"NoeGbf al9 ePsf] cj:yfdf To:tf] al9/sdnfO{ :yug vr{ b]vfO ;f] C0fkq e'QmfgLsf]cjlw el/df ;dfg'kflts ?kn] vr{ hgfpg] / nfutd"No c+lst d"No eGbf sd ePdf To:tf] km/s /sdnfO{ nufgLdf d'gfkmf zLif{s cGtu{t cfDbfgLaf“Wg] gLlt lnOPsf] 5 . olb ahf/ d"No lstfaL d"NoeGbf sd ePdf To:tf] sd /sdsf] nfuL ;DefljtnufgL gf]S;fgL Aoj:yfdf hDdf ug]{ u/]sf] 5 .

case cost price is higher than face value, suchexcess amount has been accounted as deferredexpenses and amortized within the tenure ofBond/Debenture. And in case face value is higherthan cost price, such amount has been accountedas gain on investment on accrual basis. If themarket price of such investment is less than thebook value, provision for loss on Investment hasbeen made for the shortfall amount.

b. Accounting Policy of investment made inFixed Deposit of Banks/Financial Institutions :As per Financial directives 2065 of InsuranceBoard of Nepal, such investment amount has beenaccounted on principal amount.

c. Accounting Policy of Investment made inShares of public Companies : The investmentmade in ordinary shares of public companies werebeing accounted on market price or cost pricewhichever is less till last year. But from this year,the same has been accounted on cost price basis.In case the market price is less than cost price,provision for loss on investment has been madeby the company.

d. Accounting Policy of Investment made inDebentures of Public Companies : As perFinancial directives 2065 of Insurance Board ofNepal, the company has adopted the policy ofaccounting for investment made in Bonds andDebentures of public Companies on cost price orface value whichever is less. In case cost price ishigher than face value, such excess amount hasbeen accounted as deferred expenses andamortized within the tenure of Bond/Debentureand in case face value is higher than cost price,such amount has been accounted as gain oninvestment on accrual basis. If the market priceof such investment is less than the book value,provision to loss on Investment has been madefor the shortfall amount.

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8 th


cf}+*&= ;6xL 36a9 ;dfof]hg gLlt M o; aif{ lab]zL d'b|fdf

sDkgLsf] s'g} ;DklQ jf bfloTj /x]sf] 5}g .

*= aLdfz'Ns cfDbfgL n]vf°g gLlt M aLdfz'Ns cfDbfgLlx;fa aLdf P]g cg';f/ gub k|flKtsf] cfwf/df n]vf°gul/Psf] 5 . g]kfn n]vfdfg cg';f/ k|f]befjL (Accrual)cfwf/df cfDbfgL n]vf°g x'g'kg]{df ;f] gePsf]n] n]vfdfgn]Aoj:yf u/] cg';f/ ePsf] 5}g .

(= k'gaL{df sldzg cfDbfgL n]vf°g gLlt M aLdsn] k'gaL{dfu/] afkt k|fKt ug]{ lgoldt sldzgsf] n]vf°g ubf{ k|f]befjL(Accrual) cfwf/df ul/g] gLlt lnOPsf] 5 eg] k'gaL{dfjfktsf] d'gfkmf sldzg gub k|flKtsf] cfwf/df n]vf°gug]{ gLlt /x]sf] 5 / of] aif{ sDkgLn] o:tf] sldzg afkts'g} /sd k|fKt u/]sf] 5}g .

!)= cGo cfo n]vf°g tyf af“8kmf“8 gLlt M Aofh cfDbfgLnfO{k|f]befjL (Accrual) cfwf/df n]vf°g ul/Psf] 5 . nfef+zcfDbfgLnfO{ gub k|flKtsf] cfwf/df n]vf°g ul/Psf] 5 /a}+ssf] sn vftfaf6 k|fKt Aofh cfDbfgLnfO{ k|f]befjL(Accrual) cfwf/df n]vf°g ul/Psf] 5 . ljQLo ljj/0f;DjlGwt aLdf ;ldltsf] ljQLo lgb{]lzsf @)^% cg';f/o:tf] ;a} cfDbfgLsf] af“8kmf“8 ug]{ gLlt lnOPsf] 5 .

!!= shf{ n]vf°g gLlt M aLdfn]vsf] lwtf]df k|bfg u/]sf] shf{dfk|fKt Aofh cfDbfgLsf] k|f]befjL (Accrual) cfwf/df n]vf°gul/Psf] tyf clestf{ / sd{rf/LnfO{ k|bfg ul/Psf] shf{dfk|fKt cfDbfgL klg k|f]befjL (Accrual) sf] cfwf/df n]vf°gul/Psf] 5 .

!@= Joj:yfkg vr{ af“8kmf“8 gLlt M ljQLo ljj/0f ;DalGwtaLdf ;ldtLsf] ljQLo lgb{]lzsf @)^% cg';f/ s"n Aoj:yfkgvr{sf] !) k|ltzt /sd gfkmf gf]S;fg lx;fadf ;fl/Psf]/ () k|ltzt /sdnfO{ cfo Aoo lx;fadf ;fl/Psf] 5 .

!#= aLdf bfjL e'QmfgL vr{ n]vf°g gLlt M aLdf bfjL e'QmfgLvr{ ubf{ k|f]befjL (Accrual) cfwf/df n]vf°g ul/Psf] 5 .

!$= aLdf bfjL afkt bfloTj Joj:yf n]vf°g gLlt M

s_ sDkgLn] of] aif{ IBNR aLdf bfaL afkt s'g} /sdAoj:yf u/]sf] 5}g .

7. Adjustment Policy for Exchange Fluctuation : Thecompany has no such assets and liabilities in foreignexchange this year.

8. Accounting Policy on Premium Income : PremiumIncome has been recognized on cash basis as requiredby Insurance Act, is not in accordance with NepalAccounting Standards, which requires recognition ofincome under accrual basis.

9. Accounting Policy on Re-insurance Commission :Regular Re-insurance commissions are recognized onaccrual basis and profit commissions of Re-insuranceare recognized on cash basis and no such commissionhas been received in this year.

10. Accounting Policy on Other Income andallocation : Interest including interest on call depositincome has been recognized on accrual basis. Dividendincome has been recognized on cash basis. Allocationof this type of income has been as per the financialdirectives 2065 of Insurance Board of Nepal.

11. Loan against Insurance Policies and Others :Incomes on loan against insurance policies areaccounted for on accrual basis and other loans providedto agents and staffs are also recognized on accural basis.

12. Management Expenditure allotment policy : Asper Financial Directives 2065 of Insurance Board ofNepal, 10% of management expenditure incurred duringthe year has been allocated to Profit & Loss Accountand rest 90% has been allocated to Revenue Account.

13. Accounting Policy on Claim Payment : Insuranceclaim has been accounted for on accrual basis.

14. Accounting Policy on provision for insuranceclaim:

a. The company has not made any provision for IBNRinsurance claim.

b. The company has made provision for 115% ofoutstanding claim as per Insurance rules 2049,section 15 (D).

- 80 -

��v_ aLdf lgodfjnL @)$( sf] bkmf !% -3_ cg';f/ aLdf

bfjL bfloTj afkt e'QmfgL x'g af“sL d[To' bfaLsf] /sdsf]!!% k|ltztsf] b/n] Joj:yf ug]{ gLlt lnOPsf] 5 .

!%= aLdf Joj;fodf art af“8km“f8 gLlt M ljQLo ljj/0f ;DalGwtaLdf ;ldltsf] ljQLo lgb]{lzsf @)^% cg';f/ sDkgLn]aLdf Joj;fodf art af“8kmf“8 ug]{ gLlt lnPsf] 5 .

!^= sd{rf/L pkbfg, ljbf tyf cGo ;'ljwf afkt Joj:yfgLlt M sd{rf/L pkbfg tyf ljbf jfktsf] /sdnfO{ k|f]befjL(Accrual) cfwf/df / cGo ;'ljwf afkt sf] /sdnfO{ gube'QmfgLsf] cfwf/df n]vf°g ul/Psf] 5 .

!&= z+sf:kb cf;fdL Joj:yf gLlt M of] aif{ sDkgLn] z+sf:kbcf;fdLsf] nfuL s'g} /sd Aoj:yf u/]sf] 5}g .

!*= ckn]vg vr{ n]vf°g gLlt M

s_ :yug vr{sf] ckn]vg vr{ n]vf°g gLlt M

:yug vr{nfO{ vr{ n]v]sf] ldltaf6 % aif{df ckn]vgug]{ gLlt cg';f/ ckn]vg vr{ hgfOPsf] 5 . o; gLltcg';f/ ;Dk"0f{ vr{x?nfO{ ckn]vg ul/G5 .

v_ ;/sf/L C0fkqsf] vl/bdf e'QmfgL ul/Psf] lk|ldod/sdnfO{ ;f] C0fkqsf] e'Qmfg cjlw leq ckn]vgul/g] gLlt /x]sf] 5 . of] aif{ sDkgLn] c+lst d"No¿= @(,!@,@%,))) sf] ;/sf/L C0fkqsf] vl/bdflk|ldod afkt ¿= !,!^,&&,$#! e'QmfgL u/]sf] 5 .o; ;DaGwdf lnOPsf] gLlt cg';f/ of] aif {¿= %#,%$,(() ckn]vg ul/Psf] 5 .

!(= cGo gLlt M

s_ gof“ ljQLo ljj/0f ;DalGwt aLdf ;ldltsf] ljQLolgb{]lzsf lgb]{zg @)^% cg';f/ o; ljlQo ljj/0ftof/ ubf{sf] ldltaf6 Ps aif{leq kl/kSs x'g nfu]sf]nufgL ¿= ̂ ,̂̂ !,(*,%*@ nfO{ 5f]6f] cjlw nufgL cGtu{tb]vfOPsf] 5 .

v_ ;Dk"0f{ af“sL /sdnfO{ hLjg sf]ifdf ;fl/Psf] x'“bfsDkgLn] ckl/kSs hf]lvd ;DaGwdf s'g} Aoj:yfu/]sf] 5}g .

15. Surplus Allotment Policy on Insurance Business :The company has adopted the policy regarding surplusallotment on insurance business as per Financialdirectives 2065 of Insurance Board of Nepal.

16. Accounting Policy regarding Employee gratuity,Leave and Other Facilities : Employee Gratuity andLeave Encashment accounted on accrual basis andother facilities are accounted on cash basis at the timeof payment.

17. Policy on Doubtful Debts : The Company does nothave any doubtful debts during the year; as such noprovision has been made.

18. Amortization Policy:

a. Accounting Policy for Deferred RevenueExpenditure :

Deferred Revenue Expenditure is provided foramortization over five year period from the date ofcommercial operation. According to the policy allthe expenses are amortized.

b. Premium paid on acquisition of governmentsecurities (Investment) is amortized over thematurity period of investment. During the year,the company has purchased NRB Bonds bypaying premium of Rs. 1,16,77,431.00 against theface value of Rs. 29,12,25,000.00. As per thepolicy taken total Rs. 53,54,990.00 has beenamortized during the year.

19. Other Policy:

a. As per New Financial Directives of InsuranceBoard of Nepal, Investment which is going tomature with in one year from the date ofpreparation of Financial Statements have beenshown in short term investment Rs. 66,61,98,582.

b. The company has not made any provision forunexpired risk because to all the surplus has beentransferred to Life fund.

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8 th


cf}+*Schedule - 29


Notes to Accounts related to

Financial Statements

1. Contingent Liabilities :

A. There are no unpaid investments.

B. The company has no underwriting commitments.

C. There is no claim beside the insurance policies.

D. There is no guarantee given by the company oron behalf of the company.

E. There are no other liabilities except repudiateddeath claims of Rs. 83.15 lacs.

2. Basis adopted by Actuary while evaluatingInsurer’s liabilities : In the last valuation, the modifiedNet Premium method of valuation has been adopted.

3. There are no disputes and limitations regarding thecompany’s property. The company has owned all theproperties and assets that are purchased by TheCompany and there are no disputes on that.

4. The company has not made any commitments on itsloans, investments and fixed assets.

5. Amount of Investment related purchase/saleagreements:

i. There are no acquired properties/assetsownership of which has not been obtained by thecompany.

cg';"rL – @(

nfOkm OG:of]/]G; skf]{/]zg -g]kfn_ ln=

ljQLo ljj/0f;+u ;DjlGwtn]vf ;DjlGw l6Kk0fLx?

!= ;Defljt bfloTjx? M

c_ of] aif{ r'Qmf jf e'QmfgL x'g af“sL nufgL 5}g .

cf_ of] aif{ sDkgLn] sg} k|Tofe"lt k|lta4tf (underwriting

commitments) gu/]sf] .

O_ of] aif{ aLdfn]v cGtu{t eGbf afx]saf6 sDkgL pk/bfjL k/]sf] t/ aLdsn] bfloTj :jLsf/ gu/]sf] s'g}bfjL g/x]sf] .

O{_ of] aif{ sDkgLn] jf sDkgLsf] tk{maf6 lbOPsf] s'g}Uof/]06L gePsf] .

p_ c:jLs[t d[To' bfaL /sd ? *#=!% nfv afx]s cGos'g} bfloTj g/x]sf] .

@= aLdf°Ln] aLdssf] bfloTj d"Nof°g ubf{ cjnDag u/]sf]cfwf/x? M ut aLdf°L d"Nof°gdf aLdf°Låf/f df]l8kmfO8g]6 lk|ldod lalw (Modified Net Premium Method)

ckgfOPsf] .

#= sDkgLsf] ;DklQdf s'g} ls;Ldsf] ;Lldttf tyf ljjfbx?/x]sf] 5}g . sDkgLn] xfn;Dd vl/b u/]sf] ;Dk'0f{ ;DklQsDkgLsf] gfddf gfd;f/L u/fO;s]sf] / To;df s'g} bfjLjf ljjfb /x]sf] 5}g .

$= shf{, nufgL tyf l:y/ ;DklQsf] nflu sDkgLn] xfn;Dds'g} ls;Ldsf] k|lta4tf AoQm u/]sf] 5}g .

%= nufgL;+u ;DalGwt b]xfosf v/Lb laqmL ;Demf}tfx?sf]d"No M

c_ v/Lb ul/Psf] ;DklQsf] :jfldTj k|fKt gePsf] s'g};DklQ g/x]sf] .

- 82 -

��cf_ laqmL ul/Psf] ;DklQsf] e'QmfgL k|fKt gePsf] s'g}

/sd jf“sL gePsf] .

^= o; jif{e/L ul/Psf] nufgLsf] ljj/0f M

s= nufgLx? M

c= d'4lt lgIf]kdf nufgL M

a}+ssf] gfd /sd

g]kfn P;= lj= cfO= a}+s ln= @&,)),)),)))

s'df/L a}+s ln= $,)),)),)))

glan a}+s ln= %,)),)),)))

a}+s ckm sf7df8f}+ ln= !%,)),)),)))

l;4fy{ a}+s ln= &,)),)),)))

l8;LlaPn a}+s ln= %,%),)),)))

k|fOd sdl;{on a}+s ln= !,%),)),)))

lsi6 a}+s ln= #,)),)),)))

dxfnIdL kmfOgfG; ln= #,%),)),)))

;4fy{ a}+s l8a]Gr/ !,)),)),)))

cfO= ;L= Pkm= ;L= ln= ^,%),)),)))

o'gfO6]8 kmfOgfG; ln= ^,%),)),)))

;flgdf ljsf; a}+s ln= #,)),)),)))

jL/+uh kmfOgfG; ln= !!,)),)),)))

g]kfn ;/sf/ C0fkq @(,!@,@%,)))

o'lgog kmfOgfG; ln= @,)),)),)))

hDdf -c_ !,#),^@,@%,)))

cf_ ;"lrs[t klAns sDkgLsf] z]o/df nufgL M

klAns sDkgLsf] ;fwf/0f z]o/ o'lg6 /sd

;flgdf ljsf; a}+s ln= %@(@ %,@(,@))

g]kfn P;= lj= cfO= a}+s ln= &)#) !,!&,#(,!!)

PgcfOlaPn @)&% @,&%,)))

g];gn xfO8«f] kfj/ s+= ln= @))) @,)),)))

PdlklaPn ^!* ^!,*^@=%)

ii. There is no amount due against sales of thecompany’s property.

6. Detail of investments made during the year is asfollows.

F. Investments:

1. Investment in fixed deposits

Name of the Bank Amount

Nepal SBI Bank Ltd. 27,00,00,000

Kumari Bank Ltd. 4,00,00,000

Nabil Bank Ltd. 5,00,00,000

Bank of Kathmandu Ltd. 15,00,00,000

Siddhartha Bank Ltd. 7,00,00,000

DCBL Bank Ltd. 5,50,00,000

Prime Commercial Bank Ltd. 1,50,00,000

Kist Bank Ltd. 3,00,00,000

Maha Laxmi Finance Ltd. 3,50,00,000Siddhartha Bank Debenture 1,00,00,000ICFC 6,50,00,000

United Finance Ltd. 6,50,00,000

Saima Bikash Bank Ltd. 3,00,00,000

Birgunj Finance Ltd. 11,00,00,000

Nepal Government Bonds 29,12,25,000Union Finance Ltd. 2,00,00,000

Total (A) 1,30,62,25,000

2. Investments in Quoted Shares of Public LimitedCo. :

Share of Public Co. Unit Amount

Sanima Bikash Bank Ltd. 5292 Unit 5,29,200Nepal SBI Bank Ltd. 7030 Unit 1,17,39,110NIBL 2075 Unit 2,75,000National Hydro power Co. 2000 Unit 2,00,000MPBL 618 Unit 61,862.50

- 83 -

8 th


cf}+*l8;LlaPn a}+s ln= ^)( ^),())

PgPdla a}+s ln= !(*) !,(*,)))

P;l;laPgPn= !(^) !,*),#@,)))

lsi6 a}+s ln= #))) #,)),)))

P; 8]enkd]G6 a}+s ln= $*) $&,($)

g]kfn z]o/ dfs]{6\; ln= ^$*! #),&&,())

l;4fy{ a}+s ln= (&)* #*,#!,!))

cfOPnPkm;L ##)) @@,@&,%))

hDdf -cf_ $,)%,*),%!@=%)

hDdf -c ± cf_ !,#$,^*,)%,%!@=%)

v= o; cf= a= df kl/kSj ePsf / laqmL ePsf nufgLsf]ljj/0f

d'¢lt lgIf]k /sd

g]kfn P;=lj=cfO=a}+s ln= ^,)),)),)))

Pg= Pd= lj= a}s ln= @,%),)),)))

a}+s ckm sf7df8f}+ ln= ^,)),)),)))

nIdL a}+s ln= &,)),)),)))

l;4fy{ a}+s ln= %,%),)),)))

l8;LlaPn a}+s ln= %,)),)),)))

dxfnIdL kmfOgfG; ln= @,)),)),)))

dfR5fk'R5|\] a}+s ln= (,@%,)),)))

la/u+h kmfOgfG; #,)),)),)))

o'gfO6]8 kmfOgfG; ln= %,)),)),)))

a}+s ckm Pl;of ln= !,)),)),)))

cfOPnPkm;L @,&%,)),)))

k|fO{d sd;L{on a}+s ln= !,%),)),)))

lSng OghL{ ljsf; a}+s ^,%),)),)))

g]kfn ;/sf/ af]08 !,%%,(),$)$=#(

hDdf ^$,%%,(),$)$=#(

DCBL 609 Unit 60,900

NMB Bank Ltd. 1980 Unit 1,98,000

SCBNL 1960 Unit 1,80,32,000

Kist Bank Ltd. 3000 Unit 3,00,000

ACE Dev. Bank Ltd. 480 Unit 47,940

Nepal Share markets Ltd. 6481 Unit 30,77,900

Siddhartha Dev Bank Ltd. 9708 Unit 38,31,100

ILFC 3300 Unit 22,27,500

Total (B) 4,05,80,512.50

Total (A + B) 1,34,68,05,512.50

A. Details of matured and sold Investments duringthe financial year:

Fixed Deposits Amount

Nepal SBI Bank Ltd. 6,00,00,000

NMB Bank Ltd. 2,50,00,000

Bank of Kathmandu Ltd. 6,00,00,000

Laxmi Bank Ltd. 7,00,00,000

Siddhartha Bank Ltd. 5,50,00,000

DCBL Bank Ltd. 5,00,00,000

Mahalaxmi Finance Ltd. 200,00,000

M. P. Bank Ltd. 9,25,00,000

Birgunj Finance Ltd. 3,00,00,000

United Finance Ltd. 5,00,00,000

Bank Of Asia 1,00,00,000

ILFC 2,75,00,000

Prime Commercial Bank Ltd. 1,50,00,000

Clean Energy Dev. Bank Ltd. 6,50,00,000

Nepal Government Bonds 1,55,90,404.39

Total Matured 64,55,90,404.39

- 84 -

��&= a}+s df}Hbft lx;fa ;DaGwdf sDkgLåf/f lx;fa ldnfg

ljj/0f tof/ ul/ ;f] sf] Aojl:yt nut /flvPsf] 5 / of]jif{ w]/}h;f] ;DalGwt a}+s÷ljQLo ;+:yfsf] ;dy{g ;lxtsf]lx;fa ldnfg ljj/0f tof/ ul/Psf] .

*= aLds÷k'gaL{ds;+u lng' lbg' af“sL lx;fa ;DaGwdf;DalGwt aLds÷k'gaL{dssf] ;dy{g ;lxtsf] lx;fa ldnfgtof/ ul/ ;f]sf] k'g{ljdsaf6 k'li6 u/fOPsf] 5 .

(= aLdf lgodfjnL tyf aLdf ;ldltaf6 tf]lsP adf]lhdsf]lgb]{zg cg';f/ sDkgLn] nufgL u/]sf] 5 .

!)= k|fljlws ;]jf z'Ns jfkt ¿= #&,^$,))) / k'gaL{df z'Nsjfkt ¿= !*,)(,))) /sd ef/tLo hLjg aLdf lgud;+usf];Demf}tf cg';f/ e'QmfgL ul/Psf] jfx]s sDkgLåf/f sDkgLsf];+rfns jf ;+rfns;+u ;DalGwt JolQm jf ;+:yf;+u s'g}sf/f]af/ ul/Psf] 5}g . k|fljws ;]jf z'Ns ;Demf}tf aLdf;ldltaf6 % aif{sf] nfuL ldlt hgj/L !, @))* af6 nfu'x'g]ul/ l:js[lt k|fKt ePsf] 5 .

!!= sDkgLåf/f ;/sf/L C0fkqsf] ;'/If0fdf g]kfn P;=la=cfO=a}sjf6 cf]e/8«fÇ6 C0f ;'ljwf afkt ¿= !@,(&,##,)))/sd C0f lnOPsf] 5 .

!@= sDkgLn] s/ r'Qmf k|df0fkq xfn;Dd k|fKt u/]sf] 5}g;fy} cl3Nnf] cf= j= x?sf] s/ hl/jfgf Aofh afkt bfjLgk/]sf] / o; cf= j= df s'g} /sd To; jfkt e'QmfgLePsf] 5}g .

!#= of] aif{ sDkgLn] s'g} aLdfz'Ns lkmtf{ u/sf] 5}g .

!$= sDkgLn] aLldtnfO{ cf= j= @)^$÷)^% ;Ddsf] af]g;sf]b/ 3f]if0ff u/]sf] 5 / xfn;Dd cGtl/d af]g;sf] ?kdfnfu" ul/Psf] ljj/0f lgDgfg';f/ 5 M

;fjlws aLdf / hLjg cfgGb aLdfn]vx?df

jif{ cjlw %—!( @)—@$ @% jf ;f] eGbf al9

af]g; b/ %@=)) %%=)) &)=))

7. The company has prepared the bank reconciliationstatements and has received most of its bank accountsstatements.

8. Description of transactions of Re-insurance is approvedby Re-insurance company along with reconciliation.

9. The company has made investments according to therelevant rules and criteria prescribed by InsuranceBoard.

10. The company has not made any transaction andinvestments with Directors of the company or otherperson and organizations associated with Directorsexcept Technical Service Fee and Re-InsurancePremium Rs.3764 thousand and Rs. 1809 thousandrespectively as per agreement with Life InsuranceCorporation of India. The Technical Service Feeagreement is approved by Insurance board Of Nepalfor the period of 5 years w.e.f. January 1, 2008.

11. The company has taken overdraft loan Rs. 129733thousand from Nepal SBI Bank Ltd. against the securityof its Government Bonds.

12. The company has not obtained tax clearance certificateand has not received any claim regarding fines orinterest due of previous year’s income tax and nopayments in this regard is made during the year.

13. The company has not refunded any premium duringthe year.

14. The company has declared Vested Bonus up to2064/065 which is applicable in interim bonus till dateas follows:

ENDOWNMENT & JEEVAN ANAND POLICIES:

TERM 5-19 yrs. 20-24 yrs. 25- and above yrs.

BONUS RATE 52.00 55.00 70.00

- 85 -

8 th


cf}+*wglkmtf{ aLdf

aif{ cjlw !% @) @%

af]g; b/ %!=)) %@=)) %$=))

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!%= l9nf] aLdfz'Ns e'QmfgLdf lanDa z'Ns, aLdfn]vsf] lwtf]dfk|bfg ul/g] shf{ clestf{ / sd{rf/LnfO{ k|bfg ul/Psf]shf{sf] Aofhsf] b/ lgDgfg';f/ lgwf{/0f ul/Psf] 5 M

l9nf] aLdfz'Ns e'QmfgLdf lanDj z'Nssf] Aofhb/ *%

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clestf{ C0fsf] Aofhb/ (%

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!^= ckn]vg x'g af“sL vr{sf] ljj/0f M ;/sf/L C0fkqsf]vl/bdf e'QmfgL ul/Psf] lk|ldod /sdnfO{ ;f] C0fkqsf]e'Qmfgcjlw leq ckn]vg ul/g] gLlt /x]sf] 5 . of] aif{sDkgLn] c+lst d"No ¿= @(,!@,@%,))) ;/sf/L C0fkqsf]vl/bdf lk|ldod afkt ¿= !,!^,&&,$#! e'QmfgL u/]sf]5 . o; ;DaGwdf lnOPsf] gLlt cg';f/ of] aif{¿= %#,%$,(() ckn]vg ul/Psf] 5 . of] /sdnfO{ cg';"rL@ df nufgLdf gf]S;fg lzif{s cGt/ut b]vfOPsf] 5 .

!&= r'Qmf k"“hL dWo] clu|d e'QmfgL k|fKt (Paid in advance),e'QmfgL k|fKt x'g af“sL (Call in arrears) / hkmt ul/Psfz]o/ /x]sf] 5}g .

!*= of] jif{;Dd lnh xf]N8 ;DklQdf vr{ (Amortization)

cGt/ut s'g} /sdsf] Aoj:yf ul/Psf] 5}g .

!(= jif{el/df sDkgLsf] jf;nft aflx/sf] s'g} sf/f]af/sf] /x]sf] 5}g .

@)= cl3Nnf] aif{;+u ;DjlGwt vr{ M

s_ gub nfef+; ljt/0fdf nfu]sf] vr{ ¿= #,$%,@%$nfO{ gfkmf gf]S;fg af“8kmf“8 lx;fadf n]vf°gul/Psf] 5 h'g vr{ clwNnf] aif{;+u ;DjlGwt 5 .

MONEY BACK POLICIES:

TERM YEAR 15 yrs. 20 yrs. 25 yrs.

BONUS RATE 51.00 52.00 54.00

Bonus rate are applicable for per thousand.

15. The company has determined the interest rate on latepremium payment, loans against insurance policies,agent’s and employee’s loans as follows :

Interest Rate on late payment of Premium 8% p.a.

Interest Rate on loans against Policies 9% p.a.

Interest Rate on Agent’s loans 9% p.a.

Interest Rate on Employees loans 7% p.a.

16. Details of expenses remaining to be amortized :Premium paid on acquisition of government securities(Investment) is amortized over the maturity period ofinvestment. During the year, the company haspurchased NRB Bonds by paying premium ofRs. 1,16,77,431.00 against the face value ofRs. 29,12,25,000.00 As per the policy taken, total53,54,990.00 has been amortized this year. This mounthas been shown in annexure 2 as loss on purchase ofInvestment.

17. There is neither calls in advance/calls in arrears norany forfeited shares in the total paid up capital of thecompany during the year.

18. There is no amortization amount in leasehold propertyup to this year.

19. There are no off Balance sheet transactions in thisfinancial year.

20. Prior Period Expenses:

a) Dividend distribution expense Rs. 3,45,254pertains to earlier year has been charged to Profit& Loss Appropriation Account.

- 86 -

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sldzg, k|ltof]lutf k'/:sf/ / clestf{ Snj vr{afkt ¿= %#,%(,^@#=%$ /x]sf] 5 h;nfO{ clestf{vr{ -cGo_ zLif{sdf hgfOPsf] 5 .

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s_ x|f; s§L gLltdf kl/jt{g ul/Psf] 5 h; cg'?kyk l:y/ ;DklQsf] nfuL x|f; s§L /sd pknAwu/fpgsf] nfuL o; aif{ ¿= !,@%,))) x|f; s§Lafkt al9 /sd n]vf°g ul/Psf] 5 h;n] gfkmfdf;f]lx /sd a/fa/ gsf/fTds k|efj kf/]sf] 5 .

v_ To;} ul/ klAns sDkgLsf] ;fwf/0f z]o/df ul/g]nufgLsf] n]vf°g gLlt klg kl/jt{g ul/Psf] 5 . utjif{;Dd o:tf] nufgLnfO{ nfut d"No jf ahf/ d"Noh'g sd 5 ;f]lx cg';f/ n]vf°g ul/Psf] lyof] . t/of] jif{b]lv ;f] nufgLnfO{ nfut d"Nodf n]vf°gul/Psf] 5 . nfut d"No eGbf ahf/ d"No sd ePsf]cj:yfdf sd ePsf] /sd a/fa/ ;Defljt nufgLgf]S;fgL Joj:yfdf hDdf ug{] u/]sf] 5 . pk/f]Qmn]vf°g gLltdf kl/jt{gsf] sf/0f ljQLo cj:yfdfs'g} k|efj kf/]sf] 5}g .

@@= :yug s/ M jf;nft ldltdf nfu' /x]sf] k|rlnt sfg"gcg'?ksf] s/ b/df cfwfl/t /lx :yug s/sf] /sdlgwf{/0f ul/Psf] 5 . :yug s/ ;DklQsf] /sdnfO{ eljZodfTo:tf] :yug s/ ;DklQaf6 pknAw x'g;Sg] lglZrtcfDbfgLsf] /sdsf] cg'kftdf n]vf°g ul/Psf] 5 . cf= j=@)^%÷)^^ cGTo ;Dddf sDkgLsf] gfkmf gf]S;fg lx;fadf:yug s/ ;DklQ÷bfloTj afkt ¿= ^@,)&,(()=$#/sd n]vf°g ul/Psf] 5 h'g /sd lstfjL gfkmf / s/of]Uo gfkmfsf] ;dofGt/af6 x'g cfPsf] xf] h;sf] ljj/0flgDgfg';f/ 5 M

b) The Company has incurred prior period expensesrelating to Agency manager’s commission,competition prizes and agents club expensesRs. 53,59,623.54 is clubbed with Other Agent’sExpenses.

21. Change In Accounting Policy :

a) There is a change in the depreciation policy ofthe Company for providing depreciation onadditions of fixed assets, as a result depreciationamount charged is higher by Rs. 1,25,000.00causes profit lower by such amounts.

b) Similarly, the policy of accounting Investmentmade in shares of public companies has also beenchanged. Till last year it had been accounted onmarket price or cost price whichever is less. Butfrom this year the same has been accounted oncost price basis. Provision for loss has been madewhen the market price is less than cost price.There is no financial implication because of thischange.

22. Deferred Tax : Deferred tax is measured based onthe tax rates and the laws enacted or substantivelyenacted at the Balance Sheet date. Deferred tax assetsare recognized only to the extent that there isreasonable certainty that sufficient future taxableincome will be available against which such deferredtax assets are realized. The Company has recognizeddeferred tax assets/liabilit ies amounting toRs. 62,07,990.43 which resulted from the timingdifferences between the Book Profit and Tax Profit, upto current year ended Ashad 31, 2066 (July 15, 2009)in Profit & Loss Account, the details of which is asunder :

- 87 -

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@#= cl3Nnf] jif{sf] c+sx? cfjZostf cg';f/ k'gj{uL{s/0ful/Psf] 5 .

Recognition of Deferred Tax Liability & Assets :

23. Re-grouping : Previous years figures have beenregrouped and rearranged, wherever necessary to makethem comparable with the figures of current year.

ljj/0f >fj0f ! @)^% cfiff9 #!, @)^^ of] aif{df cfPsf]sf] z'? df}Hbft clGtd df}Hbft

:yug s/ ;DklQ -bfloTj_

s_ l:y/ ;DklQ $%))*=@* -#*^%@=))_ ^#%^=@*

v_ :yug vr{ -%#)&%@@=#@_ -@!)!!*!=()_ -&$)*&)$=@@_

u_ nufgL @@*#*@=*# *@@@)@=^& !)%)%**=%)

3_ pkbfg÷labf /sd !&^%)(=** -#@&$)=*&_ !$#&^(=)!

v'b -bfloTj_ -$*%&^@!=##_ -!$#!**!=*^_ -^@)&(()=$#_

Particulars Balance as on Arising during Balance as atShrawan 1, 2065 the year Ashad 31, 2066

Deferred Tax Assets (Liabilities)

On account of timing difference in :

a) Fixed assets 45008.28 (38652.00) 6356.28

b) Deferred Expenditure (5307522.32) (2101181.90) (7408704.22)

c) Investment 228382.83 822205.67 1050588.50

d) Gratuity/Leave Encashment 176509.88 (32740.87) 143769.01

Net (Liabilities) (4857621.33) (1431881.86) (6207990.43)

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–sss

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–sss

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;d o

f6 l/:

s (

Sum

at R

isk)

o; a

if{ut

aif{

k'gaL{d

snfO{

x:tfGt

/0f u

l/Ps

f] ;d

of6 l/:s

(Sum

at R

isk)

o; a

if{ut

aif{

aLdsn

] wf/0f

u/]sf

] ;d

of6

l/:s

(Su

m a

t Risk

)

o; a

if{ut

aif{

ljlkg

s'df/

nfn

ljQ c

lws[t

b]jf]lh

t ;fGo

fn;x

fos d

xfk|jGw

sd'/

nLw/

g\= kL

k|d'v

sfo{s

f/L c

lws[t÷

;+rfn

s/fh

]Gb| co

f{n;+r

fns

P;=s

]= d'vh

L{;+r

fns

czf]s

cu|j

fn;+r

fns

P=s]= b

f; u'Kt

f;+r

fns

l6=P;

= ljh

ogcW

oIf

;+nUg

k|lta]b

gsf] c

fwf/d

fla=

s]= c

u|jfn

, Pkm=

;L=P=

al/i7

;fe]mbf

/la=

s]= c

u|jfn

P08

sDkg

Lrf

6{8{ P

sfp0

6]06;

\

- 91 -

8 th


cf}+*

As p

er o

ur re

port

of e

ven

date

B. K

. Agr

awal,

FCA

Sr. P

artn

erFo

r B.K

. Agr

awal

& C

o.Ch

arte

red

Acco

unta

nts

Bipi

n Ku

mar

Lal

Fina

nce O

ffice

rDe

vojit

San

yal

Asst

. Gen

eral

Mana

ger

Mur

alee

dhar

an. P

CEO/

Dire

ctor

Raje

ndra

Ary

alDi

rect

orS.

K. M

ukha

rjee

Dire

ctor

Asho

k Agr

awal

Dire

ctor

A.K.

Das

Gup

taDi

rect

or T.

S. V

ijaya

nCh

airm

an

- 92 -

Sche

dule

- 31

Actu

ary

Report

1E

nodo

wm

ent

76,6

7954

,147

7,94

7,94

3,75

0 6

,865

,819

,750

2A

ntic

ipat

ed E

ndow

men

t29

,316

23,1

953,

536,

860,

500

2,75

0,93

7,50

03

Mod

ified

End

owm

ent

36,9

4625

,074

5,57

3,58

0,00

03,

583,

420,

000

4W

hole

Life

Pol

icy

1,64

2-a

aa28

6,02

0,00

0-a

aa5

Spec

ial T

erm

Pol

icy

422

-aaa

74,1

55,0

00-a

aa

Tota

l14

5,00

510

2,41

617

,418

,559

,250

13,2

00,1

77,2

50

S.N.

Type

s of

Insu

ranc

eTo

tal S

um A

ssur

edIn

-forc

e N

o. o

f Pol

icie

s

Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

Sum

at R

isk

born

e by

insu

rer

Sum

at R

isk

tran

sfer

red

to re

-insu

rer

Cur

rent

Yea

rPr

evio

us Y

ear

6,04

5,18

2,20

85,

319,

272,

869

349,

300,

925

281,

592,

630

5,69

5,88

1,28

35,

037,

680,

239

2,72

7,33

3,20

42,

157,

690,

695

45,0

75,4

9441

,117

,829

2,68

2,25

7,71

02,

116,

572,

866

4,94

6,00

5,98

63,

232,

,815

,826

395,

900,

162

156,

032,

267

4,55

0,10

5,80

63,

076,

783,

559

266,

488,

947

-aaa

-aaa

-aaa

266,

488,

947

-aaa

80,0

00-a

aa-a

aa-a

aa80

,000

-aaa

13,9

85,0

90,3

2710

,709

,779

,390

790,

276,

581

478,

742,

726

13,1

94,8

13,7

4610

,231

,036

,664

Cur

rent

Yea

rPr

evio

us Y

ear

Cur

rent

Yea

rPr

evio

us Y

ear

Sum

at R

isk

��

- 93 -

8 th


cf}+*gf]6 Note

- 94 -

��

gf]6 Note

- 95 -

8 th


cf}+*gf]6 Note

- 96 -

nfOkm OG:of ]/]G; skf ]{/]zg -g ]kfn lnld6 ]8 - LIC Nepal · nfOkm OG:of ]/]G; skf ]{/]zg -g ]kfn_...

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