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    Lic 1 Ra 31-03-2017

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    jdchandrapal4980
    1. The document is a revenue account for Life Insurance Corporation of India for the period ending March 31, 2017. It shows premiums earned, investment income, expenses, benefits paid, surplus/deficit, and appropriations. 2. Total premiums earned were Rs. 995.42 billion for the quarter and Rs. 3,004.87 billion for the period. Total income was Rs. 1,551.61 billion for the quarter and Rs. 4,926.27 billion for the period. 3. After paying benefits, commissions, expenses and provisions, there was a surplus of Rs. 22.003 billion for the quarter which was appropriated to the shareholders' account.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Lic 1 Ra 31-03-2017

    Uploaded by

    jdchandrapal4980
    20 views1 page
    1. The document is a revenue account for Life Insurance Corporation of India for the period ending March 31, 2017. It shows premiums earned, investment income, expenses, benefits paid, surplus/deficit, and appropriations. 2. Total premiums earned were Rs. 995.42 billion for the quarter and Rs. 3,004.87 billion for the period. Total income was Rs. 1,551.61 billion for the quarter and Rs. 4,926.27 billion for the period. 3. After paying benefits, commissions, expenses and provisions, there was a surplus of Rs. 22.003 billion for the quarter which was appropriated to the shareholders' account.

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    Public Disclosure - 2016-17

    Original Title

    LIC_1_RA_31-03-2017

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    © © All Rights Reserved

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    1. The document is a revenue account for Life Insurance Corporation of India for the period ending March 31, 2017. It shows premiums earned, investment income, expenses, benefits paid, surplus/deficit, and appropriations. 2. Total premiums earned were Rs. 995.42 billion for the quarter and Rs. 3,004.87 billion for the period. Total income was Rs. 1,551.61 billion for the quarter and Rs. 4,926.27 billion for the period. 3. After paying benefits, commissions, expenses and provisions, there was a surplus of Rs. 22.003 billion for the quarter which was appropriated to the shareholders' account.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    20 views1 page

    Lic 1 Ra 31-03-2017

    Uploaded by

    jdchandrapal4980
    1. The document is a revenue account for Life Insurance Corporation of India for the period ending March 31, 2017. It shows premiums earned, investment income, expenses, benefits paid, surplus/deficit, and appropriations. 2. Total premiums earned were Rs. 995.42 billion for the quarter and Rs. 3,004.87 billion for the period. Total income was Rs. 1,551.61 billion for the quarter and Rs. 4,926.27 billion for the period. 3. After paying benefits, commissions, expenses and provisions, there was a surplus of Rs. 22.003 billion for the quarter which was appropriated to the shareholders' account.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    FORM L-1-A-RA

    Name of the Insurer: Life Insurance Corporation of India


    Registration No. 512 Date of Registration with IRDAI: 01.01.2001

    REVENUE ACCOUNT FOR THE PERIOD ENDED ON 31st MARCH, 2017


    (IN RESPECT OF TOTAL BUSINESS )
    Policyholders’ Account (Technical Account)

    (`000)
    Particulars Schedule FOR THE UP TO THE FOR THE UP TO THE
    QUARTER ENDED QUARTER ENDED QUARTER ENDED QUARTER ENDED
    ON 31st MARCH, ON 31st MARCH , ON 31st MARCH, ON 31st MARCH ,
    2017 2017 2016 2016

    Premiums earned – net


    (a) Premium L-4 995423393 3004873598 931140176 2664442056
    (b) Reinsurance ceded (1635668) (2906758) (1043443) (2188220)
    (c) Reinsurance accepted- 0 0 0 0
    Income from Investments
    (a) Interest, Dividends & Rent – Gross 447179463 1640149665 398791730 1513382674
    (b) Profit on sale/redemption of investments 64640905 215032848 23055509 141856517
    (c) (Loss on sale/ redemption of investments) (3545210) (12481175) (3204059) (12775661)
    (d) Transfer/Gain on revaluation/change in fair value* 47167291 75527804 (29984840) (72494950)
    Transferred from Shareholders' Fund
    Other Income
    (a) Amounts written back 820913 714659 549113 439278
    (b) Sundry Receipts 1559522 5355311 9576522 11325943
    TOTAL (A) 1551610609 4926265952 1328880708 4243987637
    Commission L-5 62922857 165900666 54648166 154771658
    Operating Expenses related to Insurance Business L-6 81348335 289446565 76257792 226927657
    Other Expenses :Exchange 19150 73986 9985 (9357)
    Service Tax on Fund Management Charges & other 472354 1896945 484666 2030000
    Provision for doubtful debts 11408174 28250849 (10439218) (12825538)
    Provision for Tax 7528736 63249681 28958318 47527470
    Provisions (other than taxation)
    (a) For diminution in the value of investments (Net) (3400298) (1078813) 684550 3620668
    (b) Others 7202103 18507907 6453692 26097890
    TOTAL (B) 167501411 566247786 157057951 448140448
    Benefits Paid (Net) L-7 565328328 1666947795 497970275 1428069460
    Bonuses Paid (11021469) 9294951 (7154822) 8503046
    Change in valuation of liability in respect of life
    policies
    (a) Gross** 772173258 2646474472 703213766 2445431807
    (b) Amount ceded in Reinsurance 0 0 0 0
    (c) Amount accepted in Reinsurance 0 0 0 0
    Transfer to Provision for Linked Liabilities 35622708 15287112 (47177754) (111128617)
    Transfer to Funds for Future Appropriations (202) (202) 479 479
    Transfer to Funds for Discontinued Fund 3239 10702 465 666
    TOTAL (C) 1362105862 4338014830 1146852409 3770876841
    SURPLUS/ (DEFICIT) (D) =(A)-(B)-(C) 22003336 22003336 24970348 24970348
    APPROPRIATIONS
    Transfer to Shareholders’ Account 22003336 22003336 24970348 24970348
    Transfer to Other Reserves 0 0 0 0
    Balance being Funds for Future Appropriations 0 0 0 0
    TOTAL (D) 22003336 22003336 24970348 24970348
    Previous period's figures are regrouped wherever necessary

    Notes:
    * Represents the deemed realized gain as per norms specified by the Authority.
    ** Represents Mathematical Reserves after allocation of bonus
    The total surplus as at 31.03.2017(` `000)
    (a) Interim Bonuses Paid: `9294951
    (b) Allocation of Bonus to policyholders: `418063377
    (c) Surplus shown in the Revenue Account: `22003336
    (d) Total Surplus: [(a)+(b)+(c )] : `449361664
    As required by Section 40-B(4) of the Insurance Act, 1938 we certify that to the best of our knowledge
    and belief and according to the information and explanations given to us and so far as appears from our
    examination of the Corporation's books of accounts
    (a) all expenses of management in respect of life insurance business transacted by the Corporation
    have been fully debited to the Revenue Account- Participating/Non-Participating as expenses.
    (b) all charges incurred in respect of the Life Insurance Business transacted by the Corporation
    in respect of Non-Linked and Linked Business have been fully debited by the Corporation in the
    respective Revenue Accounts.

    The Schedules referred to above form an integral part of the Revenue Account.
    Note: The above figures include Linked business and Linked Business comprises of non-participating plans, viz. Bima Plus, Future Plus,
    Jeevan Plus, Money Plus, Market Plus, Fortune Plus, Profit Plus, Money Plus1, Market Plus1,Child Fortune Plus,Jeevan Sathi Plus, Wealth
    Plus, Pension Plus, Endowment plus, Samriddhi Plus,Health Plus, Health Protection Plus, Flexi Plus, New Endowment Plus, Gratuity Plus

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