Annual Report Bilingual 2015-16

dm{fH n{VdoXZ / ANNUAL REPORT
www.uiic.co.in
Designed & Printed by Adwit (India) Pvt Ltd.
*Insurance is the subject matter of solicitation
2015 - 2016
THE RESULT IS EVIDENT

WHEN WE ARE TOGETHER.
www.uiic.co.in
26
{ZXoeH$ S>b H$m {VdoXZ /Report of the Board of Directors
Q>oS> AbmoZ {dmr` {ddaU / STANDALONE FINANCIAL STATEMENTS

dV boIm narjH$m| H$s [anmoQ> / Independent Auditors Report
118
^maV Ho$ {Z`H$ d hm boImnarjH$ H$s grjm / Review of Accounts by the Comptroller & Auditor General of India
134
amOd ImVm / Revenue Accounts
136
bm^ Ama hm{Z ImVm / Profit and Loss Account
142
VwbZ n / Balance Sheet
144
AZwgy{M`m / Schedules
146
{d^mOZ {VdoXZ / Segmental Report
158
Ho$e bmo {ddaU / Cash Flow Statement
186
hdnyU boIm Zr{V`m / Significant Accounting Policies
188
{Q>n{U`m Omo ImVm| H$m {hgm / Notes Forming Part of the Accounts
196
boIm AZwnmV / Accounting Ratios
220
{dmr` {ddaU H$m gmame / Summary of Financial Statements
228
~YZ {VdoXZ / Management Report
230
Xmdm| H$m dfdma {ddaU / Ageing of Claims
234
AXmdr nmbrgrYmaH$mo H$s am{e H$m dfdma {dbofU / Unclaimed amount of the Policyholders - Age-wise Analysis
244
go{H$V {dmr` {ddaU / CONSOLIDATED FINANCIAL STATEMENTS

dV boIm narjH$m| H$s [anmoQ> / Independent Auditors Report
248
^maV Ho$ {Z`H$ d hm boImnarjH$ H$s grjm / Review of Accounts by the Comptroller & Auditor General of India
256
amOd ImVm / Revenue Accounts
258
bm^ Ama hm{Z ImVm / Profit and Loss Account
264
VwbZ n / Balance Sheet
266
AZwgy{M`m / Schedules
268
{d^mOZ {VdoXZ / Segmental Report
280
308
hdnyU boIm Zr{V`m / Significant Accounting Policies
310
{Q>n{U`m Omo ImVm| H$m {hgm / Notes Forming Part of the Accounts
320
$m E.Amo.gr.-1 / FORM AOC-I
342
dm{fH n{VdoXZ / ANNUAL REPORT 2015-16
AZwH$_{UH$m / INDEX
{ZXoeH$ S>b / BOARD OF DIRECTORS
{ZXoeH$ S>b
BOARD OF DIRECTORS
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MILIND KHARAT
A. HODA
Chairman-cum-Managing Director (Till 31. 05. 2016)
Chairman-cum-Managing Director (Officiating)
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ALOK TANDON
KISHORE KUMAR SANSI

Director
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SINDHU PILLAI
A.V. GIRIJA KUMAR
Director
Director & General Manager
BOARD OF DIRECTORS
Director
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/ DIRECTORS AND EXECUTIVES
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Deputy General Managers
A Hoda (Officiating) (from 8.6.2016)

Milind Kharat (upto 31.05.2016)
D Nagalakshmi
A Padmanathan
Anitha Rajaram
T K Haridasan
R Balaji
M Shahul Hameed
M Abdul Azeez
Y K Shimray
Ajay Kumar
Directors
A Hoda (from 25.4.2016)
Alok Tandon
Kishore Kumar Sansi (from 11.5.2015)
Sindhu Pillai (from 8.1.2016)
Asha Nair (upto 30.9.2015)
A V Girija Kumar (from 20.7.2015)
M V V Chalam (from 27.1.2016 to 29.2.2016)
Chairman-cum-Managing Director
Company Secretary
General Managers
S Venkataraman
A V Girija Kumar
Asha Nair (upto 30.9.2015)
M V V Chalam (upto 29.2.2016)
V E Kaimal
T L Alamelu
Ish Kumar
P Hemamalini
R Shivakumar (from 10.8.2015 to 31.8.2015)
C R Vijayan (from 10.8.2015)
Rajamohan V Bhavaraju (from 10.8.2015)
Auditors
M/s Brahmayya & Co.
M/s Maharaj N R Suresh & Co.
M/s Padmanabhan Ramani & Ramanujam
Secretarial Auditors
M/s Lakshmmi Subramanian & Associates
Key Managerial Personnel
Chief Financial Officer
Milind Kharat, CMD

V E Kaimal, CFO
S Venkataraman, Company Secretary
V E Kaimal
Appointed Actuary
Chief Vigilance Officer
V Subbulakshmi
Kunnel Prem
Chief Grievance Officer
Deputy General Managers
A V Girija Kumar, General Manager
R Hariharan
V Srinath
B B Dash
V K Ramchander
K K Panda
CH Narasimha Rao
M P Jairam
Soumya Mukherjee
Ravi Rai
K L Kunjilwar
G Yesudasu
S Ramadoss
R P Mittal
P Siva Prasad
K Nandakumar
V Raghunathan
Principal Compliance Officer

(Anti-Money Laundering)
V K Ramchander, Deputy General Manager
Chief Underwriter
Chief Risk Officer
Y K Shimray, Deputy General Manager
Chief Compliance Officer

CH Narasimha Rao, Deputy General Manager
Compliance Officer Corporate Governance

Guidelines
S Venkataraman, Chief Manager and Company Secretary
Chief Public Information Officer

H Nithyakala, Chief Manager
DIRECTORS AND EXECUTIVES
D Nagalakshmi, Deputy General Manager
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During the year, the company received the following prestigious awards:
Bancassurance Market Leader - General Insurance and Underserved Market
Penetration - General Insurance,
ASSOCHAM Corporate Governance Excellence Awards.
Our Corporate Calendar with the theme MAKE IN INDIA, was awarded the first
position in the PRSI-Make In India Award - Best Innovation to Promote Make in India
- against All India Competition from various parts of the Country.
SKOCH Financial Inclusion & Deepening Awards, 2015 - Order of Merit Consumer Education through website
Asia Pacific HRM Congrees - 2015 Awards
(a) CEO with HR orientation
(b) Most influential HR professionals in Asia for GM - HR
Official Language implementation Committee, Chennai, - First position among Public
Sector undertaking for progressive use of Official language
Lions CSR Award - The International Association of Lions Club
RECOGNITION FOR THE COMPANY

AWARDS & ACCOLADES
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CIN: U93090TN1938GOI000108
10
NOTICE is hereby given that the SEVENTY EIGHTH ANNUAL GENERAL MEETING of the Members of United India Insurance Company
Limited will be held on TUESDAY the 28th JUNE 2016 at the Registered Office of the Company at 24 Whites Road, Chennai 600014
at 11.00 a.m to transact the following business:
1.
To receive and adopt the Directors Report, Audited Accounts for the year ended 31st March, 2016 and Auditors
Report thereon.
2.
To declare Dividend on Equity Shares.
3.
To authorise the Board of Directors to fix the remuneration of Auditors, to be appointed by the C&AG, for the
year 2016-17.
NOTICE
(By Order of the Board)

for United India Insurance Company Limited
Place : Chennai
S. VENKATARAMAN
Date : 21 June 2016
COMPANY SECRETARY
Encl.: Proxy Form

Route Map
1.
ANY MEMBER, ENTITLED TO ATTEND AND VOTE, IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF
HIMSELF AND SUCH A PROXY NEED NOT BE A MEMBER.
2.
THE PROXY FORM DULY STAMPED AND EXECUTED, SHOULD BE DEPOSITED AT THE REGISTERED OFFICE OF THE COMPANY
NOT LESS THAN FORTY EIGHT HOURS BEFORE THE TIME FIXED FOR THE COMMENCEMENT OF THE MEETING.
CIN: U93090TN1938GOI000108
11
NOTICE
Notes:
{ZJ_r` ~YZ / COPORATE MANAGEMENT
{_{bX IamV , A`j-gh-~Y {ZXoeH$ (31.05.2016 VH$)
E. hmoXm, A`j-gh-~Y {ZXoeH$ (WmZmn)
MILIND KHARAT
Chairman-cum-Managing Director (Till 31.05.2016)
E. dr. {J[aOm Hw$_ma, [ZXoeH$ d _hm ~YH$

A.V. GIRIJA KUMAR
Director & General Manager
Be Hw$_ma, _hm ~YH$
CORPORATE MANAGEMENT
ISH KUMAR
General Manager
amO_mohZ ^damOy, _hm ~YH$

RAJAMOHAN BHAVARAJU
General Manager
A. HODA
Chairman-cum-Managing Director ( Officiating)
dr.B.H$_b, _hm ~YH$ d {dVr` gbmhH$ma
V.E. KAIMAL
General Manager & Financial Advisor
nr. ho__m{bZr, _hm ~YH$

P. HEMAMALINI
General Manager
Hw$Zb o_, _w` gVH$Vm A{YH$mar
Q>r.Eb.Ab_obw, _hm ~YH$

T.L. ALAMELU
General Manager
gr. Ama. {dO`Z, _hm ~YH$

C.R. VIJAYAN
General Manager
dr. gw~wb_r, [Z`wV ~r_mH$H$
KUNNEL PREM
Chief Vigilance Officer
V. SUBBULAKSHMI
Appointed Actuary
12
Eg. d|H$Q>am_Z, H$nZr g{Md

S. VENKATARAMAN
Company Secretary
(2015-16)
R. HARIHARAN
Dy. General Manager
dr. lrZmW , Cn _hm ~YH$
V. SRINATH
Dy. General Manager
grEM. Za{gh amd , Cn _hm ~YH$
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dr. Ho$. am_MXa, Cn _hm ~YH$
E. nX_ZmWZ, Cn _hm ~YH$
Ho$. ZXHw$_ma, Cn _hm ~YH$
S. RAMADOSS
Dy. General Manager
M.P. JAIRAM
Dy. General Manager
A. PADMANATHAN
Dy. General Manager
CH. NARASIMHA RAO

Dy. General Manager
V.K. RAMCHANDER
Dy. General Manager
E_.emhb h_rX , Cn _hm ~YH$
K. NANDAKUMAR
Dy. General Manager
dmB. Ho$. {e_ao, Cn _hm ~YH$
M.SHAHUL HAMEED
Dy. General Manager
S>r. ZmJb_ro, Cn _hm ~YH$
Y.K. SHIMRAY
Dy. General Manager
D. NAGALAKSHMI
Dy. General Manager
13
CORPORATE MANAGEMENT (2015-16)
Ama. h[ahaZ , Cn _hm ~YH$
{ZJ_r` ~YZ / COPORATE MANAGEMENT
jor` ^mar / REGIONAL INCHARGES

(2015-16)
Cmar jo / Northen Zone
A{ZVm amOmam, Cn hm ~YH$,

ZB {Xr, jo.H$m.-1
ANITHA RAJARAM, DGM

New Delhi RO-1
Eg.EZ.ggoZm, w` jor` ~YH$,
a{d am`, Cn hm ~YH$
bIZD$ jo.H$m
MS>rJT> jo.H$m
RAVI RAI, DGM

Chandigarh RO
S N SAXENA, CRM
Lucknow RO
Ama.~mbmOr, Cn hm ~YH$
AJ$n gmoZ, w` jor` ~YH$,
AO` Hw$ma, Cn hm ~YH$
aoe Aà, w` jor` ~YH$
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bw{Y`mZm jo.H$m
ZB {Xr jo.H$m-2
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R. BALAJI, DGM
Jaipur RO
ANGRUP SONAM, CRM

Ludhiana RO
AJAI KUMAR, DGM

New Delhi RO-2
RAMESH AIYAR, CRM

Dehradun RO
REGIONAL INCHARGES (2015-16)
nydu jo / Eastern Zone
Ho$.Eb.Hw$pObda,Cn hm ~YH$
dZ{gbm IaJm|H$a, w` jor` ~YH$
gOrd Hw$ma, w` jor` ~YH$
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K L KUNJILWAR, DGM
Kolkata RO
WANSILA KHARKONGOR, CRM

Guwahati RO
14
SANJEEV KUMAR, CRM

Patna RO
nr.Ho$.nQ>Zm`H$, w` jor` ~YH$

^wdZoa jo.H$m
P K PATNAIK, CRM
Bhubaneswar RO
jor` ^mar / REGIONAL INCHARGES (2015-16)

n{r jo / Western Zone
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SHIV PRASAD PETLA, DGM
Mumbai RO-1
AhXm~mX jo.H$m.
R P MITTAL, DGM
Ahemdabad RO
w~B jo.H$m.-2
SOUMYA MUKHERJEE, DGM
Mumbai RO-2
nwUo jo.H$m.
K K PANDA, DGM
Pune RO
Ama.Ho$.em, w` jor` ~YH$
~r.~r.Xme, Cn hm ~YH$
amOoe Hw$ma, w` jor` ~YH$
S>m.Xrn gaH$ma, w` jor` ~YH$
dS>moXam jo.H$m.
R K SHARMA, CRM
Vadodara RO
^monmb jo.H$m.
B B DASH, DGM
Bhopal RO
ZmJnwa jo.H$m.
RAJESH KUMAR, CRM
Nagpur RO
am`nwa jo.H$m.
Dr. PRADIP SARKAR, CRM
Raipur RO
dr.aKwZmWZ, Cn hm ~YH$
Or.ògwXmg, Cn hm ~YH$
S>m.E.AXwb AOrO, Cn hm ~YH$
Or.gwXaamZ, w` jor` ~YH$
Mo jo.H$m.
V RAGHUNATHAN, DGM
Chennai RO
hXam~mX jo.H$m.
G YESUDAS, DGM
Hyderabad RO
~oJbya jo.H$m.
Dr M ABDUL AZEEZ, DGM
Bangalore RO
Xwa jo.H$m.
G SUNDARARAMAN, CRM
Madurai RO
Q>r.Ho$.h[aXmgZ, Cn hm ~YH$
dmB. ~mb`m, Cn hm ~YH$
EZ.AbJnZ, Cn hm ~YH$
S>m.Ama.Or.H$moJZmobo, w` jor` ~YH$
E.bmoJZmWZ, w` jor` ~YH$
H$mo{ jo.H$m.
T.K. HARIDASAN, DGM
Kochi RO
{demImnQU jo.H$m.
Y BALAIAH, DGM
Vizag RO
H$mo`~mya jo.H$m.
N ALAGAPPAN, DGM
Coimbatore RO
h~br jo.H$m.
Dr R G KOGNOLE CRM
Hubli RO
nwXwoar jo.H$m.
M. LOGANATHAN, CRM
Puducherry RO
15
REGIONAL INCHARGES (2015-16)
X{jU jo / South Zone
LARGE CORPORATE & BROKERS CELL INCHARGES (2015 - 16)
bmO H$mnm}aoQ> d ~moH$g H$j ^mar (2015 -16)/

LARGE CORPORATE & BROKERS CELL INCHARGES (2015-16)
EZ. gr. moS>b
Eg .nr .ZmWZ
A{e Hw$ma wIOu
Eb gr ~r w~B
N C MONDAL
LCB Mumbai
Eb gr ~r Mo
S P NATHAN
LCB Chennai
Eb gr ~r {Xbr
ASHIM KUMAR MUKHERJEE
LCB Delhi
S>m .Ho$. E. H$Um
grm Jma
Sm. nr. E. Hw$bH$Uu
Eb gr ~r ~|Jbya
Dr K A Krishna
LCB Bangalore
Eb gr ~r hXam~mX
SEEMA GAUR
LCB Hyderabad
Eb gr ~r nwUo
Dr P M KULAKARNI
LCB Pune
OXrn qghm
amOo ~r. Omoer
Eb gr ~r H$mobH$Vm
JAIDEEP SINHA
LCB Kolkata
Eb gr ~r AhXm~mX
RAJENDRA B JOSHI
LCB Ahmedabad
16
17
List of Regional Offices and

Large Corporate & Brokers Cells (LCB)
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Ho$ gmW-gmW bm`S>g qgS>rHo$Q> Ho$ {bE Iwbm h& {Z`mH$ Zo `yO ES> $mBb {H$`mAm| H$mo bmJy {H$`m h {Oggo gmYmaU ~rm jo
| Ama A{YH$ A{^Zd JmhH$m| Ho$ AZwHy$b CnmXm| Ho$ {bE mJ eV hmoJm& gaH$ma mam CR>mE JE Ed H$m`mpdV {H$ò Jò H$Xmo
go ^{d` | CmoJ H$m {dH$mg AZwmZ H$mo gwJVm go nma H$a gH$Vm h&
hmar H$nZr W VmdH$ Ho$ $n o Adgam| H$m bm^ CR>mZo Ho$ {bE AN>r pW{V | h& Mmby df | H$nZr {d{m` gmdoe H$mo ~T>mZo
Ho$ {bò gmm` godm Ho$, ~rm {dnUZ $ Ama {dHo$Vm {~Xw Ho$ m` go AnZo CnmXm| Ho$ {dVaU H$mo ^{d` | em{b {H$E OmZo
Ho$ {bE nhb H$m ew^ma^ H$aoJr& H$nZr {dH$mg Ho$ {bò moQ>a Ama dm` Ogo AJUr IS>m| | AnZo IwXam, EEgEB d JmrU
goQ>a na `mZ H|${V H$aoJr& AmZo dmbo dfm] | H$nZr H$mo A{YH$ go A{YH$ DMmB VH$ bo OmZo Ho$ {bò {V^m Ama ~w H$m`~b h&
H$nZr Ho$ gh`moJ Ed mJXeZ Ho$ {bò {ZXoeH$ S>b Ama {Z`mH$ m{YH$aU H$s egm Ama Am^ma `$ H$aVm h& hmao
JmhH$m|, H$Mm[a`m|, `mnm[aH$ `Wm| Ama {dHo$VmAm| H$m {ZaVa gWZ Ho$ {bò ^r Am^ma `$ H$aVm h& BZ g^r Zo {dgZr`
n[aMmbZ XeZ XoZo Ho$ {bE MwZmVrnyU n[apW{V`m| | ^r JmhH$ godm | CH$>Vm XoZo Ho$ {bE hmar H$nZr | XX H$s& ^{d`
| g$bVm H$s Amem H$aVm h&
E. hmoXm
18
CMDs Message
At the outset I congratulate all United Indians for their contribution in accomplishing the premium growth in a highly competitive
market.
The growth in premium of our company was 14.58%, which is more than the Industry, has resulted in increase of our market share.
The year saw many new regulations and several amendments to the earlier ones, notified by the Regulator. The Industry is now open
for Foreign Reinsurance players as well as Lloyds Syndicate. The Regulator has also implemented the Use & File procedures which
will pave the way for more innovative customer friendly products in the General Insurance Sector. With many measures taken and
implemented by the Government the growth in the Industry could well surpass the estimates in the future.
Our company is well positioned to take advantage of the opportunities as the first mover. In the current year the company will
launch its initiatives to further financial inclusion by distributing its products through Common Service Centers, Insurance Marketing
Firms and Point of Sale persons. The company will concentrate on its retail, MSME and Rural sectors with Motor and Health leading
segments for growth. The company has the talent and enlightened work force to take the Company to greater heights in the years
to come.
I place my sincere appreciation and gratitude to the Board of Directors and the Regulatory Authority for their guidance and support
extended to the Company. I also wish to place on record my gratitude to our customers, employees, business intermediaries and
vendors for their continued support. All these facilitated our company to deliver credible operational performance, under challenging
circumstances, as also deliver excellence in customer service. I look forward to future success with real optimism.
A HODA
19
H$_ g. / Sl. No
AZwH$_{UH$m / INDEX
AZw^mJ 1/ Section 1
H$m`nmbH$ H$m {ddaU / Details of Executives
1.1
gm{d{YH$ boImnarjH$ {VdoXZ / Statutory Auditors Report
1.2
{dVr` {ZnmXZ /
1.3
H$mamo~ma H$s g_rjm Ama MmbZ H$m gmame / Business Review and Summary of operations
1.4
AmV[aH$ {ZÙ Ama {dVr` [anmo{Q>J H$s {ddgZr`Vm ~T>mZo Ho$ {bE CR>mò Jò H$X_
Financial Performance
Measures taken to enhance credibility of internal controls and financial reporting

1.5
ZyVZ CnmX /
1.6
Xmdm ~YZ / Claims Management
1.7
{dXoer gMmbZ /
1.8
C_ Omo{I_ ~YZ / Enterprise Risk Management
New Products
Foreign operations
AZw^mJ 2 -~YZ {dMma {d_e Ed {dbofU

2.1
/ Section 2 Management Discussion and Analysis
~r_m ~mOma, Am{WH$ XemAm| Ho$ gmW gmW `wZmBQ>oS> B{S>`m H$m {ZnmXZ
Economic conditions, insurance market, vis--vis performance of United India

2.2
mmbZ {ZnmXZ /
2.3
[ZJ_r` gm_m{OH$ Xm{`d /
2.4
gXmZ /
2.5
H$nZr mam hm{gb A{^km Ama nwaH$ma / Recognition for the
Operating Performance
Corporate Social Responsibility
Donations
Company Awards & Accolades
AZw^mJ 3- H$mnm}aoQ> JdZ}g H$s [anmoQ> / Section 3 -Report on Corporate Governance

3.1
{ZXoeH$ _S>b / Board of Directors
3.2
~R>H$ {ddaU / Meeting Details
3.3
g{Mdmb`r boIm narjm / Secretarial Audit
3.4
dm{fH$ {ddaU H$m gma /
3.5
D$Om, mmo{JH$s g_mdoeZ H$s gajU
3.6
g~{YV nj H$m`{ddaU /
3.7
H$nZr Ho$ A{Y{Z`_ 2013 Ho$ AZwgma H$_Mm[a`m| H$m {ddaU / Particulars of Employees as per Companies Act 2013 beyond threshold
3.8
gm{d{YH$ boImnarjH$ /
3.9
_ZmoaOZ, {dXoer Xmam| Ama Mma gma Ama {dkmnZ Ho$ {V ~YZ H$m IM
Extract of Annual Returns

/ Conservation of Energy, Technology Absorption
Related Party Transactions
Statutory Auditors
Expenses of Management towards Entertainment, Foreign Tours and publicity and advertisement
{ZXoeH$m| Ho$ CVaXm{`d {ddaU/
Directors Responsibility Statement
ggX _| dm{fH$ {VdoXZ H$s Vw{V
/Placing of Annual Report before the Parliament
df 2016-17 Ho$ {bE CmoJ Ama H$nZr Ho$ pQ>H$moU `moOZm`| / Plans / Outlook of Industry and Company for 2016-17
A{^drH${V /
Acknowledgements
{ZXoeH$ _S>b H$s $naoIm /
Profile of the Board of Directors
H$mnm}aoQ> JdZ}g {ZX}e Ho$ AZwnmbZ H$m _mU n / Certification of Compliance of the Corporate Governance Guidelines
H$m`Wb na _{hbmAm| Ho$ `mZ CnrS>Z / Disclosure under Sexual Harassment Act
AZwbZH$ / Annexures
20
21
2015-16 Ho$ H$m {ZnmXZ H$m w Ae

gH$b j
r{
` 12250
H$amoS>
ew
A{OV r{
` 10023
H$amoS>
H$a Ho$ nyd

bm^
` 256
H$amoS>
jVm
grm
1 .91
H$a Ho$ ~mX

bm^
` 221
H$amoS>
ew y
` 5731
H$amoS>
22
GROSS DIRECT
PREMIUM
` 12250
CRORES
NET EARNED
PREMIUM
` 10023
CRORES
PROFIT
BEFORE TAX
` 256
CRORES
SOLVENCY
MARGIN
1.91
PROFIT
AFTER TAX
` 221
CRORES
NET
WORTH
` 5731
CRORES
23
PERFORMANCE HIGHLIGHTS FOR 2015-16
13000
12250
12000
10692
inSCrores
(``.H$amo
mo |)
10000
9266
9709
2012-13
2013-14
8179
8000
6000
4000
2000
0
2011-12
2014-15
2015-16
df
Year
Prot
Tax
Ha Ho After
~mX bm^
800
700
528
(`.H$amoSmo |)
` in Crores
600
500
527
387
400
301
300
221
200
100
0
2011-12
2012-13
2013-14 2014-15
2015-16
df
Year
ew Worth
_y`
Net
6000
4945
` in Crores
5000
(`.H$amoSmo |)
s[_`_
Premium
5361
5589
5731
2014-15
2015-16
4542
4000
3000
2000
1000
0
2011-12
2012-13
2013-14
Year
df
24
13000
12250
12000
10692
` in Crores
10000
9266
9709
2012-13
2013-14
8179
8000
6000
4000
2000
0
2011-12
2014-15
2015-16
Year
Prot After Tax

800
700
528
` in Crores
600
500
527
387
400
301
300
221
200
100
0
2011-12
2012-13
2013-14 2014-15
2015-16
Year
Net Worth
6000
5361
4945
` in Crores
5000
5589
5731
2014-15
2015-16
4542
4000
3000
2000
1000
0
2011-12
2012-13
2013-14
Year
25
Premium
gX`m| Ho$ {V {ZXoeH$

S>b H$m {VdoXZ
1) gX`m| Ho$ {V {ZXoeH$ S>b H$m {VdoXZ
{ZXoeH$JU 31 mM 2016 H$mo gm df Ho$ {bE H$nZr H$m AR>madm
dm{fH$ {VdoXZ boIm nar{jV boIm {ddaU Ama VwbZ n Ho$ gmW ghf
VwV H$aVo h&
H$s jVm H$mo gw{Z{V H$aVo hE m{UV {H$`m J`m h& {dmr` n[aUmm| H$mo
A{V $n XoVo hE Bh| {ZXoeH$ S>b Ho$ gj 13 B 2016 H$mo VwV
H$a {X`m J`m Wm&
1.1
{ZXoeH$ S>b mam `hm ZrMo Xr J`r gm[aUr Ho$ AZwgma boIm Ho$ AJrH$aU
| H$nZr H$m {ZnmXZ VWm g` go H$m$s nyd dm{fH$ gmm`JU ~R>H$ H$m
nyam H$a {b`m OmZm AmnH$s H$nZr H$s {ZaVaVm VWm JwUdmmnaH$ boIm
Vw{V H$mo {g H$aVm h&
gm{d{YH$ boIm narjm [anmoQ>
h| AmnH$mo `h gy{MV H$aVo hE hf H$m AZw^d hmo ahm h {H$ AmnH$m

H$nZr-boIm 2015-16 H$nZr Ho$ gm{d{YH$ boIm-narjH$m| mam AnZo
boIm-{VdoXZ | {~Zm {H$gr {Q>nUr Ho$ bJmVma AmR>dt ~ma boIm JwUdmm
1.2
df
gm{d{YH$ boIm-narjH$m| H$s

{Q>nUr
dm[fH boIm na [Z`H d

_hm boIm narjH$ Hs [QnUs
[ZXoeH$ S>b H$s ~R>H$ H$s

{V{W
dm{fH$ gmm` ~R>H$ H$s

{V{W
2008-09
ey`
ey`
30-Ab -2009
08-Jul-2009
2009-10
ey`
ey`
30-Ab-2010
31-B-2010
2010-11
ey`
ey`
28-Ab-2011
02-OyZ-2011
2011-12
ey`
ey`
28-Ab-2012
31-B-2012
2012-13
ey`
ey`
26-Ab-2013
24-B-2013
2013-14
ey`
ey`
23-Ab-2014
13-OyZ-2014
2014-15
ey`
ey`
15-B-2015
29-OyZ-2015
2015-16
ey`
ey`
13-B-2016
Am`mo{OV H r OmEJr
{dmr` {ZnmXZ
h H$nZr Ho$ {ZnmXZ Ama MmbZ n[aUm ^r ghf VwV H$aVo h&
{ddaU
(`.H$amoS> |)
Mmby df 2015-16
gHb s[_`_ Am`

ew s[_`_
ew A[OV s[_`_
CnJV Xmdo
REPORT OF THE BOARD OF DIRECTORS
H_seZ
MmbZ ``
A` Am` / (``)
[Zdoe Am` (gHb)
Ha Ho nyd bm^
Ha Ho [bE mdYmZ
Ha Ho ~mX bm^
JV df 2014-15
12250.36
10691.73
10714.56
9326.02
10022.87
8816.23
8801.09
7443.03
513.35
531.29
2924.07
2648.57
-127.46
-16.02
2598.98
2141.92
255.88
319.24
35.29
18.67
220.59
300.57
Ama{j{V`m
df 2015-16 | gmm` Ama{j{V`m| | `.139.98 H$amoS> H$s am{e H$m
AVaU {H$`m J`m& AV[aV am{e H$a-nmV bm^ H$m 63.46% h.
eoà nyOr
H$nZr H$s A{YH$V eoà nyOr `.200 H$amoS> h & 31 mM 2016 Ho$
AZwgma H$nZr H$s eoà nyOr `.150 H$amoS> h &
26
1) REPORT OF THE BOARD OF DIRECTORS TO THE MEMBERS

The Directors have pleasure in presenting the Seventy-Eighth
Annual Report of the Company together with the Audited Statement
of Accounts and Balance Sheet for the year ended March 31, 2016.
consecutively for the eighth time confirming again the strength of

the quality of accounts. The financial results were finalized and
placed before the Board on 13th May 2016.
1.1
The Companys performance in adoption of accounts by the board

and the completion of Annual General Meeting well in advance as
given in the table below proves your Companys consistent and
qualitative submission of accounts.
STATUTORY AUDITORS REPORT
We have great pleasure in informing you that your company's

accounts has been certified by the statutory auditors of the company
without any qualification in their audit report for the year 2015-16
Statutory Audit Comments
CAG comments on the

Annual Accounts
Date of Board Meeting
Date of AGM
2008-09
Nil
Nil
30-Apr-2009
08-Jul-2009
2009-10
Nil
Nil
30-Apr-2010
31-May-2010
2010-11
Nil
Nil
28-Apr-2011
02-Jun-2011
2011-12
Nil
Nil
28-Apr-2012
31-May-2012
2012-13
Nil
Nil
26-Apr-2013
24-May-2013
2013-14
Nil
Nil
23-Apr-2014
13-Jun-2014
2014-15
Nil
Nil
15-May-2015
29-Jun-2015
2015-16
Nil
Nil
13-May-2016
To be held
FINANCIAL PERFORMANCE
We are also pleased to report on business performance and operating results of the Company.
PARTICULARS
CURRENT YEAR 2015-16
(` in crores)
PREVIOUS YEAR 2014-15
Gross Premium Income
12250.36
10691.73
Net Premium
10714.56
9326.02
Net Earned Premium
10022.87
8816.23
8801.09
7443.03
513.35
531.29
Operating Expenses
2924.07
2648.57
Other Income/(Expenses)
-127.46
-16.02
Investment Income (Gross)
2598.98
2141.92
255.88
319.24
Claims Incurred
Commission
Profit Before Tax

Provision for Taxation
Profit After Tax
Share Capital
35.29
18.67
220.59
300.57
Reserves
Authorised Share Capital of the Company is ` 200 Crores. The Paid

Up Capital of the Company is ` 150 crores as on 31st March, 2016.
An amount of ` 139.98 crores was transferred to General

Reserves in the year 2015-16. The transfer represents 63.46%
of the profit after tax.
27
1.2
Year
REPORT OF THE BOARD OF

DIRECTORS TO THE MEMBERS
(` H$amoS> |)
2015-16
MwH$Vm nyOr
Ama{j{V`m Ama A{Yeof
2014-15
150.00
150.00
5581.20
5439.03
bm^me
31 mM 2016 H$mo gm df Ho$ {bE {ZXoeH$m| Zo MwH$Vm nyOr na 45% bm^me H$s gVw{V H$s h& H$a g{hV bm^me `. 80.62 H$amoS>
~ZVr h
emoY jVr H$s grm
A. ^maVr` ~rm {Z`mH$ Ama {dH$mg m{YH$aU {d{Z`m| Ho$ VhV Ano{jV emoY jVm H$s grm `.2907.50 H$amoS>
Am. CnbY emoY jVm H$s grm
`.5548.30 H$amoS>
31.03.2016 H$mo emoY jVm H$s grm 1.91 h Omo 31.03.2015 H$mo 2.36 Wr
Ymam 40( gr) H$m AZwnmbZ
2015-16
A{Y{Z` Ho$ VhV `` H$m {ZYm[aV {VeV

H$nZr Ho$ dmV{dH$ `` H$m {VeV
A{YZ` Ho$ VV H$reZ g{hV `` H$ {VeV
H$reZ g{hV H$nZr Ho$ dmV{dH$ `` H$m {VeV
2014-15
19.82%
19.75%
23.86%
23.53%
29.11%
28.92%
29.01%
30.88%
ZmoQ>:- Cn`w$ {VeV H$s JUZm gH$b `j r{` na H$s J`r h&
1.3
H$mamo~ma H$s grjm Ed MmbZm| H$m gma
nwZ~um:
~H$`yaog
H$nZr Zo AnZr g^r gpY`m| H$m ~s_m [d[Z`m_H Ama [dHmg m[YHaU mam
V` mZH$m| H$m AZwnmbZ H$aZo dmbo nwZ~umH$VmAm| Ho$ gmW g$bVmnydH$
ZdrZrH$aU {H$`m h&
~H$`yaog d{Q>H$b H$m {ZnmXZ gH$mamH$ PmZ ~Zmò aIVo hE bJ^J

21% H$s d{ Xa Ho$ gmW ` 643 H$amoS> XO hAm&
moQ>a S>rba
df 2015-16 Ho$ {bE gmYmaU ~rm {ZJ ar. H$mo A{Zdm` AnU 5% H$s
Xa na òH$ H$mamo~ma na H$qnJ Ho$ gmW Omar h&
moQ>a dmhZ {ZmVmAm| Ama S>rbam| Ho$ gmW {H$ò Jò JR>~YZ H$m lo>
{ZnmXZ Omar h& {d{^ moQ>a S>rba H$m`mb`m|, H$mo>m| Ama AmoBE
JR>~YZm| go ` 344.80 H$amoS> H$m r{` hm{gb hAm& Bg r{` |
Q>mo`moQ>m S>rba Ho$ gmW hE AmoBE JR>~YZm| go m `130.78 H$amoS> H$m
r{` em{b h. 830 S>rba nmoQ>bm| Ho$ m` go AmZ bmBZ nm{b{g`m
Omar H$a aho h&
`yZrgO d{Q>H$b H$m {ZnmXZ:

H$m`mVaU n[a`moOZm `yZrgO Ho$ VhV Wm{nV {d{^ H$mamo~ma d{Q>H$g H$m
{ZnmXZ {ddaU Bg H$ma h:EO|gr d{Q>H$b:`yg EO|gr d{Q>H$b, Omo {H$ g{H$` `{$JV A{^H$VmAm| H$m {V{Z{Yd
H$aVm h, Zo 2015-16 | ` 743.00 H$amoS> H$s A{^d{ Ama 14% d{ Xa
XO H$aVo hE ` 6059 H$amoS > H$m r{` nyam {H$`m h& 31.03.2016 Ho$ AZwgma
g{H$` A{^H$VmAm| H$s g`m 54536 Wr& H$nZr mam 13000 go A{YH$
A{^H$Vm nmoQ>b XmZ {H$ò Jò& BZ A{^H$Vm nmoQ>b m| Ho$ m` go JV df Ho$
` 455.67 H$amoS > Ho$ r{` H$s VwbZm | df 2015-16 | ` 725.57 H$amoS >
H$m r{` XO {H$`m J`m& A{^H$Vm nmoQ>b m| Ho$ m` go Omar nm{b{g`m| H$s
g`m JV df Omar 24.25 bmI H$s VwbZm | 35.77 bmI Wr&
Eb gr ~r:
8 bmO H$mnm}aoQ> Ama ~moH$a H$m`mb`m| Zo ` 441 H$amoS> H$s A{^d{ XO
H$aHo$ 38% d{ Xa Ho$ gmW `1594 H$amoS> H$m r{` nyam {H$`m&
bKw Ama ` C nhb:
Mmby {dmr` df | EgEB nhb Zo AN>m {ZnmXZ {H$`m h& Bg jo Zo
26% d{ Xa XO H$aVo hE ` 473 H$amoS> H$m r{` m {H$`m&
28
2015-16
Paid Up Capital
Reserves and Surplus
2014-15
150.00
150.00
5581.20
5439.03
Dividend
The Directors recommend a dividend of 45% on the paid-up capital for the year ended 31st March 2016. Total outgo in the form of dividend,
including taxes, will be ` 80.62 crores
Solvency Margin
a. Required Solvency Margin under IRDAI Regulations ` 2907.50 Crores
b. Available Solvency Margin
` 5548.30 Crores
(` in crores)
The Solvency Ratio was 1.91 as on 31-03-2016 as against 2.36 as on 31-03-2015
Compliance with Section 40(c)

2015-16
2014-15
Percentage of expenses prescribed under the Act
19.82%
19.75%
Company's actual percentage of expenses
23.86%
23.53%
Percentage of expenses including Commission prescribed under the Act
29.11%
28.92%
Company's actual percentage of expenses including Commission
29.01%
30.88%
Note: The above percentages are calculated on Gross Direct Premium
BUSINESS REVIEW AND SUMMARY OF OPERATIONS
Reinsurance
Bancassurance:
The Company has successfully renewed all its treaties with

reinsurers who comply with the standards set by IRDAI.
The performance of Bancassurance vertical continues to pose a positive

trend with a premium of ` 643 crores with a growth rate around 21%
The Obligatory cession to GIC Re continues to be at 5% with a

capping on the line of business for 2015-16.
Motor Dealer
The tie ups with the Motor Vehicles manufacturers and Dealers
continue to perform well. The premium from various Motor Dealer
Offices and Cells and OEM tie ups has brought in ` 344.80 crores.
The premium includes ` 130.78 crores from OEM tie ups with
Toyota. 830 Dealers are issuing Motor policies online through portal.
Performance of Unisurge Verticals

The performance details of various business verticals which were
established under the Transformation Project UNISURGE are as
under :
LCB:
Agency Vertical:
The 8 Large Corporate & Broker Offices have completed a premium

of ` 1594 crores with an accretion of ` 441 crores at a growth rate
of 38%.
The Umex Agency vertical which represents active individual agents

completed a premium of ` 6059 Crores in 2015-16 with an accretion
of ` 743 crores and registering a growth rate of 14% The number of
active agents as on 31.03.2016 was 54536. More than 13000 Agents
portal have been provided by the Company. ` 725.57crores was booked
on Agents portal in 2015-16 as against ` 455.67 crores in the previous
year. Total number of policies issued on Agents portal was 35.77 lakhs
as against 24.25 lakhs in previous year.
Small and Medium Enterprises Initiatives

The SME initiative has taken off well in the current year. The premium
from this segment has reached ` 473 crores recording a growth rate
of 26%
29
1.3
OmVo h& ~wbo{Q>Zm| VWm nwpVH$mAm| Ho$ m` go ~mOma Ho$ {dH$mg Ama gJR>Z
Ho$ {ZnmXZ na {Z`{V [anmoQ>] ^r jor` H$m`mb` VWm MmbZ H$m`mb`m|
H$mo n[aMm{bV H$s OmVr h&
g{dg h~
h g{dg h~m| Ho$ m` go Xm godm H$s {ZJamZr H$a aho h& hmao 26
g{dg h~m| Zo 79173 Xmdm| (514 Mmoar Xmdm| g{hV) H$m {ZnQ>mZ {H$`m
h Ama 30 {Xdg (gyMZm go {ZnQ>mZ VH$) H$m {H$`m b` ([Q>EQr) Ama
94%H$m Xmdm AZwnmV hm{gb {H$`m h&
JmhH$ godm
AmO Ho$ {VnYmH$ ~mOma n[a` | JmhH$ godm hr AVa nXm H$aZodmbm
EH$m H$maH$ h& ^mdr JmhH$ godm XmZ H$aZo H$m d{U {Z` h nhbr
~ma hr `h AN>o go hmo& `{X Amn Bgo ImoVo h Vmo JmhH$ AmnH$mo Bh| R>rH$
H$aZo H$m Ho$db EH$ Ama Adga {eH$m`V Ho$ m` go XoVm h& `{X Amn
Xygao Adga na ^r ghr Zht H$a nmVo Vmo AmnZo AnZm JmhH$ gXm Ho$ {bE
Imo XoVo h& {H$gr {eH$m`V H$mo `{X ^mdr VarHo$ go {ZVm[aV {H$`m OmE Vmo
JmhH$ H$s {Z>m H$mo ~aH$ama aIZo | ghm`Vm {bVr h&
VVr` nj h~:df 2015-16 | 32 VVr` nj h~m| Zo 20,808 Xmdm| H$m {ZnQ>mZ {H$`m
Ama 37% H$m Xmdm AZwnmV hm{gb {H$`m& VVr` nj h~ Zo 5282 Xmdm| H$m
{ZnQ>mZ gPmVm| Ho$ m` go {H$`m&
{d^mJ H$s J{V{d{Y`m| H$mo nwZJ{VmZ H$aZo Ho$ {bE H$nZr n[adVZ n[a`moOZm
Ho$ {Vr` MaU H$s `moOZm ~Zm ahr h& H$nZr AnZo H$manmoaoQ> b` H$mo
nyam H$aZo H$s {Xem | AmJo ~T>Vo hE {dXoer MmbZ ImobZo H$s V`mar | h&
JmhH$ godm {d^mJ H$nZr Ho$ gH$mamH$ ~mS> N>{d H$mo XemZo | {ZUm`H$
^y{H$m H$m {Zdmh H$aVm h& dfm] go {d^mJ H$s ^y{H$m Ohm JmhH$ {eH$m`Vm|
Ho$ g`mH$ {ZnQ>mZ H$s Mbr Am ahr Wr, A~ CgH$m WmZ JmhH$ godm
Va H$s AnojmAm| H$mo {M{V H$aZo Ama JmhH$ AZw^d H$mo CH$> ~ZmZo
Ho$ Co` Ho$ gmW hmao MmbZm| H$mo gwgJV $sS>~H$ XmZ H$aZo H$s
n[adVZH$mar ^y{H$m Zo bo {b`m h&
~rmH$Z (EoMw[a`b) {d^mJ H$s J{V{d{Y`m

~rmH$Z {d^mJ CnJV qH$Vw Agy{MV (AmB~rEZAma) Ama{j{V`m| Ho$
AmH$bZ, {dmr` pW{V H$s [anmoQ> H$mo V`ma H$aZo, H$nZr H$s Am{WH$ nyOr
H$s JUZm VWm n[agn{m Xo`Vm ~YZ go g~pYV h& BgHo$ A{V[a$
`h {d^mJ CnmX gaMZm, y` {ZYmaU VWm emoYj_Vm y`mH$Zm| Ho$ jom|
| ghm`Vm XmZ H$aVm h&
JmhH$ {eH$m`V {ZdmaU g~Yr ~r_m [d[Z`m_H Ama [dH mg m{YH aU

(AmBAmaS>rE) mam Omar {Xem{ZX}em| Ho$ AZwgma H$nZr | {ZXoeH$JU mam
AZwmo{XV JmhH$ {eH$m`V {ZdmaU nm{bgr h Ama ~r_m [d[Z`m_H Ama
[dHmg m{YH aU (AmBAmaS>rE) | {d{YdV $mBb H$s J`r h& AmZbmBZ
nmoQ>b `wZmBQ>oS> B{S>`m (Jrdmg ZoO|Q> {gQ_) {gQ> ~r_m [d[Z`m_H Ama
[dHmg m{YH aU (AmBAmaS>rE) Ho$ [a`b Q>mB AmYma na (Jrdmg ZoO|Q>)
{eH m`V ~YZ {gQ> go OwS>r h&
`h {d^mJ AmH$S>m| Ho$ goH$Z Ama gmYmZ Ama gd`, BZHo$ H$nZr H$s
do~gmBQ> na H$meZ VWm ~r_m [d[Z`m_H Ama [dH mg m{YH aU gmYmaU
~rm n[afX. {Ogm Ed mb` H$mo {d{^ {VdoXZ VwV H$aZo Ho$ H$m`m]
go ^r OwS>m h& H$mamo~mar {ZnmXZ, Xmdm {ZnQ>mZ VWm CnJV hm{Z`m| na
{dcofU nyU {VdoXZ g` ` na VH$ZrH$s {d^Jm| H$mo CnbY H$amò
JmhH$ {eH$m`Vm| Ho$ AmH$So>- 2015-16 ~Zm 2014-15
{eH$m`V H$m moV
df Ho$ Ama^ | eof
XO {eH$m`V
2015-16 2014-15
2014-15
2015-16
2014-15
bp~V {eH$m`V
2015-16
{ZnQ>mZ AZwnmV
2014-15
2015-16
2014-15
15
39
1489
1126
1498
1150
15
99.60
98
S>rnrOr/ mb`
165
103
166
103
97.08
95
`wZmBQ>S> B{S>`m go
grYo
34
64
4861
4693
4888
4723
34
99.96
99
Hw$b
55
109
6515
5922
6552
5976
18
55
99.73
99
~r[d[dm
2015-16
{ZnQ>mB J`r {eH$m`V
ApZ d BOr[Z`[aJ _arZ

dm` A` [d[dY
Eb Amo ~r dma {eH$m`V {dVaU
30
_moQa
reports on business performance, claim settlement and incurred

losses are provided to technical departments from time to time.
Regular reports on Market development and Industry performance
through bulletins and booklets are also circulated to Regions and
Operating Offices.
We continue to monitor the service delivery through Hubs. Our 26

Service Hubs have settled 79173 claims (including 514 theft claims)
achieved a TAT 30 days (intimation to settlement) and disposal Ratio
of 94%
CUSTOMER CARE SERVICES
TP Hubs
Customer Service is the only differentiating factor in todays

competitive market scenario. The golden rule for effective Customer
Service delivery is Get it right the first time, If you lose that, the
customer may give you just one more opportunity through Grievance
to set things right; If you do not get it right the second time also,
you have lost the customer forever. A grievance that is handled
effectively helps in retaining the customers loyalty.
34 TP Hubs settled 20808 Claims in 2015-16 and achieved a claim

settlement ratio of 37% during the year. 5282 claims were settled
through conciliation by the TP Hub.
To revitalize the activities the department is planning to go for a
second wave of transformation project. The department is also
poised to open Companys foreign operations thus fulfilling the
corporate vision of the Company.
Service Hubs
Customer Care department plays a crucial role in projecting a positive

brand image of the Company. Over the years the departments
role has evolved from a transactional role of handling of customer
grievances into a transformational role of identifying customers
service level expectations and provide relevant feedback to our
operations with a view to enhance customer experience.
Activities of Actuarial Department

Actuarial Department is actively involved in the work relating to
estimation of Incurred But Not Reported (IBNR) claims reserves,
preparation of Financial Condition Report, calculation of Economic
Capital of the Company and Asset Liability Management. Besides,
the department provides support in areas of product design, pricing
and solvency valuations.
In accordance with IRDAs guidelines on Customer Grievance

Redressal, the Company has put in place a Board approved Customer
Grievance Redressal Policy duly filed with IRDA. The on-line portal
United Grievance Management System is integrated to IRDAs
Grievance Management System on real time basis.
The department is also involved in data compilation and reconciliation,

co-ordination, publication in Company website and submission of
various reports to IRDAI, GI Council, GIPSA and Ministry. Analysis
DATA ON CUSTOMER GRIEVANCES 2015-16 vs. 2014-15

GRIEVANCES
REGISTERED
OPENING BALANCE
2015-16 2014-15
IRDA
15
2015-16
39
1489
GRIEVANCES
DISPOSED
2014-15
2015-16
1126
1498
GRIEVANCES PENDING
2014-15
2015-16
2014-15
1150
DISPOSAL RATIO %
2015-16
2014-15
15
99.60
98
DPG/ MINISTRY
165
103
166
103
97.08
95
DIRECT BY UIIC
34
64
4861
4693
4888
4723
34
99.96
99
TOTAL
55
109
6515
5922
6552
5976
18
55
99.73
99
LOB WISE GRIEVANCE DISTRIBUTION:
31
COMPLAINT
SOURCE
{eH$m`V {ZnQ>mZ H$m g`dma {dcofU

df Ho$ XmamZ H$nZr Zo A~ VH$ H$m gdm} 99.73% H$m {ZnQ>mZ AZwnmV XO {H$`m h& {eH$m`V {ZnQ>mZ H$m g`dma 2015-16 H$s VwbZm | 2014-15
{ZnQ>mZ {ZZmZwgma h:[Q>EQr Ad{Y ({XZm| H$s
{ZnQ>mB J`r {eH$m`V|
{ZnQ>mZ {VeV
{ZnQ>m{ZV {eH$m`V|
{ZnQ>mZ {VeV
g`m)
2015-16
2015-16
2014-15
2014-15
4159
63
3352
56
01 go 15 {XZ
1228
19
971
16
15 go 30 {XZ
1165
18
1653
28
30 Ama Bggo A{YH$
AmgV [Q>EQr
20 {XZ
29 {XZ
{eH$m`V {ZnQ>mZ Ho$ g~Yr ~r_m [d[Z`m_H Ama [dH mg m{YH aU
amoH$m Om gHo$&
(AmBAmaS>rE) Ho$ mJ {ZX}em| Ho$ AZwnmbZ hoVw {eH$m`Vm| Ho$ XwV J{V go
JmhH$ gdoXrH$aU na {ejU
{dVma gmYmZ Ho$ {bE {deof `mg {H$E Om aho h& 21-12-15 H$mo
df Ho$ XmamZ Xoe â Ho$ 12 jor` H$m`mb`m| H$mo AJbo {dmr` df | Amd[aV
bdmgm | hB JmhH$ godm ZmoS>b A{YH$m[a`m| H$s dm{fH$ ~R>H$ | ~r_m
{H$`m OmZm Vm{dV h& Bg {ejU H$m Co` h {V^m{J`m| H$mo AnZo
[d[Z`m_H Ama [dH mg m{YH aU mam [Q>EQr> AZwnmbZ na Omar AmXoem| Ogo
X{ZH$ H$m` àdhma | JmhH$m| Ho$ gmW `dhma H$aVo g` gdm}H$> H$m`
3 {XZm| Ho$ AXa {eH$m`V H$s nmdVr XoZm Ama CgH$m 15 {XZm| Ho$ AXoa
Umbr H$mo AnZmZo H$s OmZH$mar XmZ H$aZm& JmhH$ godm XmZ H$aZo g~Yr
{ZnQ>mZ Ogo {df`m| na ~b {X`m J`m&
VWm {d{Z`mH$ mdYmZm| g~Yr hdnyU nhbwAmo H$mo em{b H$aVo hE EH$
AmJo {dcofU | `h nm`m J`m {H$ 72 {VeV {eH$m`Vm| H$m {ZnQ>mZ nyU
EH$sH$V {ejU mS>`yb {dH${gV {H$`m J`m&
$noU `m Am{eH$ $noU go {eH$m`VH$Vm Ho$ nj | hAm h& Bggo VrV hmoVm
~rm bmoH$nmb H$mo gX{^V {eH$m`V|
h {H$ ~rmYmaH$/{hVJmhr go m {VdoXZ na H$nZr H$s {ZU` H$s grjm
hZo bmoH$nmb H$mo gX{^V {eH$m`Vm| H$mo gmYmZ Ho$ {bE EH$ gaMZmH$
na nmaX{eVm VWm BN>m na n[ab{jV hmoVr h&
{>H$moU H$mo bmJy {H$`m h& H$nZr Zo òH$ jor` H$m`mb`m| | EH$ ZmoS>b
df 2015-16 | H$nZr Ho$ {d{^{
A{YH$mar Zm{V {H$`m h Omo BZ {ddmXm| Ho$ gmYmZ mbmo H$s {ZJamZr
JmhH$ godm dVZ A{^`mZ
VWm mZZr` bmoH$nmb Ho$ gj BZH$mo AmJo ~T>mZo hoVw CVaXm`r h& dVmZ
{eH$m`V Ho$ yb H$maU H$m {dcofU
| YmZ H$m`mb` BZ mbm| H$s {Z`{V $n go Or. ~r. AmB. gr. Ho$ AmZ
Bg {d^mJ H$m hdUnyU H$m` h - `y-Or-E-Eg nmoQ>b | XO {eH$m`Vm|
bmBZ nmoQ>b {eH$m`V mdYmZ Umbr; gr E Eg/H$boQ>g ZoOoQ>
H$m {Vmhr AmYma na {dcofU H$aZm Vm{H$ ~ma-~ma XO hmoZo dmbr {eH$m`Vm|
{gQ> Ho$ m` go {Z`{V $n go {ZJamZr H$a ahm h& H$nZr Eogo
Ho$ w` H$maUm| H$mo OmZm Om gHo$ VWm BgHo$ ~mao | YmZ H$m`mb` Ho$
mbm| Ho$ gwZdmB H$s {V{W go nyd hr gX^mdZmnyU {ZVmaU gmYmZ H$s
{d^mJm| VWm g~{YV jor` H$m`mb`m| H$mo Cn`w$ H$madmB ew$ H$aZo hoVw
g^mdZmAm| H$mo VbmeZo H$s {Xem | ^mdr `mg H$a ahr h& Bg Umbr H$s
Choo name XoZm Vm{H$ EH$ hr H$ma Ho$ H$maUm| go Cnn {eH$m`Vmo H$mo
^mdH$m[aVm `hm ZrMo {XE JE AmH$S>m| go n`m $n go X{eV hmo ahr h:{eH$m`Vm| Ho$ nj | {ZnQ>mZ
df
Amonr eof
m
[eH$m`V|
A{Y
{ZU`
dmngr
V
{V`m
dmngr
b~Z
HnZr Ho$ nj
oo {ZnQ>m{ZV
A`dhmaUr`
{eH$m`Vo
<3
hrZo
mh
3-1
df
>>1 df
Hw$b
2015-16
400
1340
35
619
144
223
625
75
19
94
2014-15
735
1134
44
527
108
228
562
140
203
57
400
gyMZm H$m A{YH$ma:-
A{YH$ma A{Y{Z`_ ~Zm`m J`m& d[aV OmZH$mar XmZ H$aZo Ho$ {bE h_mar
H$nZr Zo òH$ jor` H$m`mb` Ama Ebgr~r _| Ho$r` OZ gyMZm A{YH$mar
H$mo Zm{_V {H$`m h& nyao {H$`m{d{Y H$s gw{dYm Ho$ {bE _S>b ~YH$ / emIm
~YH$ Ama _mBH$mo ^m[a`m| H$mo ghm`H$ OZ gyMZm A{YH$m[a`m| Ho$ $n _|
Zm{_V {H$`m J`m h&
2005 _| A{Y{Z`_ Ho$ A{Y{Z`_Z Ho$ VwaV hr YmZ H$m`mb` _| gyMZm

H$m A{YH$ma {d^mJ H$m JR>Z {H$`m J`m& òH$ OZVm m{YH$ma Ho$ emgZ
_| IwbmnZ, nmaX{eVm Ama Xm{`d ~T>mZo H$s pQ> go gyMZm m H$aZo H$m
32
During the year, the Company recorded all time high disposal ratio of 99.73%. The Age wise Analysis of Grievances Disposal in 2015-16 vis--vis
2014-15 is given below.
Grievances Disposed
2015-16
Percentage of Disposal
2015-16
Grievances Disposed
2014-15
Percentage of Disposal
2014-15
01-15 days
4159
63
3352
56
15-30 days
1228
19
971
16
30 and above
1165
18
1653
28
Average TAT
20 DAYS
TRAINING ON CUSTOMER SENSITIZATION: -
Earnest efforts are made towards speedy resolution of grievance so

as to comply with IRDAs guidelines on Grievance Redressal. The
importance of adhering to IRDA mandated TAT of acknowledging a
grievance within 3 days and resolving the same within 15 days was
stressed upon during the Annual Nodal Customer Care Officers Meet
held at Lavasa on 21/12/2015.
Training of Frontline officers on Customer Sensitization was

conducted during the year in 12 Regional offices across the country
and the rest of the Regional Offices are proposed to be covered
in next financial year. The training is aimed at introducing the
participants on best practices to be adopted while dealing with the
customers in their day to day functions. A unified training module
was developed covering important aspects of customer service
delivery and Regulatory obligations
On further analysis it is observed that as much as 72% of the

complaints are resolved either fully or partially in favor of the
complainant which reveals the Companys transparency and
willingness to review its decision upon representation from the
insured / beneficiary.
COMPLAINTS REFERRED TO INSURANCE OMBUDSMAN:We have implemented a structured approach to address the
complaints referred to Ombudsman. Company has appointed
Nodal Officers in each Regional Office, who are responsible for
addressing the disputes, monitoring the cases and pursue them
before the Honble Ombudsman. Presently, Head office is monitoring
the cases regularly through the online portal of GBIC - Complaints
Management System (CMS). The Company is making earnest
efforts to explore the possibility of an amicable settlement/resolution
of these cases even before the hearing dates. The effectiveness of
the system is amply demonstrated by the figures given below:
VARIOUS CUSTOMER CARE INITIATIVES OF THE

COMPANY IN 2015-16:ROOT CAUSE ANALYSIS OF GRIEVANCE:One of the important functions of the department is analyzing the
grievances registered in UGMS portal on quarterly basis to identify
the predominant causes which give rise to repetitive complaints,
advice HO Departments and the respective Regional office to initiate
suitable remedial measures so as to avoid recurrence of complaints
out of same cause.
DISPOSED IN FAVOUR OF THE
COMPLAINANT
29 DAYS
PENDENCY
OPENING
BALANCE
COMP
LAINTS
REC
EIVED
2015-16
400
1340
35
619
144
223
625
75
19
94
2014-15
735
1134
44
527
108
228
562
140
203
57
400
YEAR
RECO
MMEN
DATIONS
AWA
RDS
WITHD
RAWAL
DISPOSED IN
NONFAVOUR OF ENTERTAINABLE
COMPANY
COMPLAINTS
RIGHT TO INFORMATION
<3
MONTHS
3-1YR
> 1 yr
TOTAL
every Public Authority. In order to provide speedy information, our

Company took a step further and formed a RTI department in each
Regional Office, nominating a CPIO at each RO as well as LCBs. To
make the entire mechanism work smoothly, Divisional Managers /
Branch Managers and Micro In charges were nominated as APIOs.
Right to Information department was formed at Head office immediately

after enactment of the Act in 2005. It was enacted to promote
openness, transparency and accountability in the administration of
33
TAT Duration
(no. of days)
AGE WISE ANALYSIS OF GRIEVANCE DISPOSAL: -
hZo g~{YV jor` Ho$ S>br` ^m[a`m|/emIm ^m[a`mo Ama {d^mJ wIm|
H$mo OmJV /gdoXrH$aU H$aZo Ho$ {bò ~S>moXam, mwdZoda, am`nwa, {Xr jor`
H$m`mb`-1, {Xr jor` H$m`mb`-2 Ama O`nwa | AmR> H$mèmbmAm|
H$m Am`mo{OV {H$`m& H$mèmbmE Am`mo{OV H$aZo Ho$ Abmdm BZ H$m`mb`m|
| g~{YV jor` H$m`mb`mo mam m g^r AmdoXZmo/Anrbm| Ho$ g`mVJV
{ZnQ>mZ Ho$ g~Y | mJXeZ XmZ H$aZo hoVw grjmE ^r H$s JB Ama O{Q>b
mbm| | name ^r {H$`m J`m&
YmZ H$m`mb` gyMZm A{YH$ma {Xdg gyMZm Ho$ A{YH$ma na OmJ$H$Vm bmZo
hoVw {Z~Y {V`mo{JVmAm| Ho$ Am`moOZ YmZ H$m`mb` Ama jor` H$m`mb` |
Am`mo{OV {H$`m& hmao A`j gh ~Y {ZXoeH$ Zo {dOoVmAm| Ho$ gmW-gmW
{V`mo{J`m| H$mo ^r nwaH$ma XmZ {H$E&
{d^mJ | `yZr gXoe ZmH$ Mma ~wbo{Q>Z ^r H$m{eV {H$ò& ~wbo{Q>Z H$m
w` CXXo` H$Mm[a`m| Ho$ ~rM gMZm m H$aZo H$m A{YH$ma Ho$ mbm| |
OmJ$H$Vm nXm H$aZm VWm A{Y{Z` Ho$ mdYmZm| H$s AVZ pW{V Ama
hVm Ho$ ~mao | Ch| AdJV H$aZm h&
OmJ{V Ed H$mèmbm Am`moOZ Ho$ Abmdm YmZ H$m`mb` H$s Ama.Q>r.AmB. Q>r
Zo 22.12.2015 H$mo bdmgm, hmam> | ApIb ^maVr` OZ gyMZm A{YH$mar
~R>H$ H$m ^r Am`moOZ {H$`m& S>m. mo. lrYa E. AmMm`wb, gyMZm Am`wV gr.
AmB. gr. Bg| A{V{W dVm Wo& hZo {Vr` bmBZ Ho$ A{YH$m[a`m| H$m g
YmZ H$m`mb` Va na Am`mo{OV {H$`m&
df 2015 -16 H$m {ZnmXZ {ZZmZwgma h:mdYmZm| Ho$ AZwgma AmdoXZmo/Anrbm| H$s m{ H$s {V{W go 30 {XZm| Ho$
AXa CZH$m {ZnQ>mZ H$aZm h VWm{n Ohm ^r g^d h BZH$m Bggo ^r
VoOr go {ZnQ>mZ {H$`m Om ahm h& gr. AmB. gr. Ho$ AmXoem| H$m AZwnmbZ
{dVr` df 2015-16 | (H$nZr Va na go{H$V Ama Ho$db YmZ H$m`mb` Va) {ZnQ>mZ AmdoXZm|/Anrbm| Ho$ AmH$S>mo H$m {ddaU {ZZmZwgma h:AmdoXZ/Anrbo (H$nZr Ho Va na)
AmdoXZ
df Ho$ ma^
m AmdoXZm|/Anrbm| H$s g`m
{ZnQ>mò Jò AmdoXZm|/Anrbm| H$s g`m
b{~V g`m
{ZnQ>mZ Xa
Anrbo
52
10
2262
301
2279
285
35
26
98.49%
91.64%
AmdoXZ/Anrbo (Ho$db YmZ H$m`mb` Ho Va na m)

AmdoXZ
23
m AmdoXZm|/Anrbm| H$s g`m
517
78
{ZnQ>m{ZV AmdoXZm|/Anrbm| H$s g`m
539
80
99.81%
98.76%
df Ho$ ma^
b{~V g`m
Anrbo
{ZnQ>mZ Xa
AmXoe | {Z{X> g`md{Y Ho$ AZwgma {H$`m Om ahm h&

1.
g^r jor` H$m`mb`m| Ho$ Q>Q> ([Q>EQr) H$s AmZbmBZ Ho$. Ama. E.
nmoQ>b Ho$ m` go {Z`{V $n go {ZJamZr H$s Om ahr h&
mogmhZ XmZ H$aZo Ho$ H$ | gdlo> {ZnQ>mZ AZwnmV dmbo
jor` H$m`mb`m| H$mo ApIb ^maVr` Ho$r` OZ gyMZm A{YH$mar
~R>H$ bdmgm | Q>m{$`m XmZ H$s JB&
2.
{d^mJ Zo mJXeZ Ed g^r gMZm m H$aZo H$m A{YH$ma mbm|
Ho$ gwb^ gX^m} hoVw gyMZm H$m A{YH$ma na EH$ hV nwpVH$m H$m
H$meZ {H$`m h&
H$m`md`Z Ho$ dm{fH$ H$m`H$ Ho$ AZwgma H$m$s AN>r J{V H$s h grjm
Ad{Y Ho$ XmamZ XO Hw$N> hdnyU CnbpY`m Bg H$ma h:nwaH$ma :ZJa amO^mfm H$m`md`Z gr{V go erS> H$s m{ :hmar H$nZr H$mo df 2014-15 Ho$ XmamZ amO^mfm Ho$ Jmr `moJ Ho$ jo
| gmdO{ZH$ jo H$ CnH$m| H$s loUr | gdlo> {ZnmXZ Ho$ {bE W
WmZ m hAm Ama ZamH$mg erS> VWm mU n go nwaH$V {H$`m J`m&
df 2015 Ho$ XmamZ bIZD$ jor` H$m`mb` H$mo (`yZrda Ho$ {bE)
bw{Y`mZm jor` H$m`mb` H$mo (J{Verb Ho$ {bE) g~{YV
amO^mfm H$m`md`Z
`wZmBQ>oS> B{S>`m B`yaog Zo ^maV gaH$ma Ho$ amO^mfm {d^mJ Ho$ amO^mfm
34
RTI Day was celebrated at HO and also at ROs by conducting essay

competition to create awareness on RTI. Our CMD presented prizes to
the winners as well as participants.
The department has released four bulletins i.e. Unisandesh. The
bulletin aims at creating awareness among employees on RTI
matters and also updating on the latest trends and importance of
Act provisions.
We conducted eight workshops in various Regional Centres viz.

Pondycherry, Ahmedabad, Vadodara, Bhuvaneshwar, Raipur, Delhi
RO I, Delhi RO II and Jaipur with a view to sensitise the Divisional in
charges /Branch In charges and Department heads of the respective
Regional Offices. Besides conducting workshops, reviews were also
conducted in these Offices to give guidance for timely disposal of all
applications/ appeals received by the respective ROs and advised on
complicated issues.
PERFORMANCE FOR THE YEAR 2015-16 IS GIVEN BELOW:
Apart from sensitising /conducting Workshops, HO RTI Team has

also organised one All India CPIOs meet at Lavasa, Maharashtra on
22/12/2015. Dr. Prof. Sridhar M Acharyulu, Information Commissioner,
CIC was our guest lecturer. We also conducted a Second line Officers
Session at Head office.
Applications/appeals are to be disposed off within thirty days from

the date of receipt of the same as per the statute. However, wherever
possible they are being disposed even faster. CIC orders are complied
with as per the time schedule indicated in the order.
Details of applications and appeals (for company as a whole and HO alone) disposed in the financial year 2015-16 are as shown below
APPLICATIONS /APPEALS (For Company as a whole):

Application
Opening Balance
Appeals
52
10
Number of applications/appeals received
2262
301
Number of applications/appeals disposed
2279
285
35
26
98.49%
91.64%
Number pending
Disposal rate
APPLICATIONS /APPEALS ( Received at Head Office alone)

Opening Balance
Appeals
23
Number of applications/appeals received
517
78
Number of applications/appeals disposed
539
80
99.81%
98.76%
Number pending
Disposal rate
1.
2.
review in Official Language Implementation include:
The TAT of all ROs are regularly monitored through the

online KRA portal. As a mark of encouragement ROs with
best disposal ratio were awarded trophies in the All India
CPIOs Meet, Lavasa.
ACCOLADES
TOLIC SHIELD
The department has published a handbook on RTI for

guidance and easy reference for all RTI matters.
Our Company was awarded TOLIC SHIELD & CERTIFICATE for

securing first position among Public Sector Undertaking (Big)
category for the best performance in the progressive use of Official
Language during the year 2014-15.
OFFICIAL LANGUAGE IMPLEMENTATION

United India is progressing well in implementation of Official Language
Policy as per the Annual Programme on O.L. Implementation of Govt.
of India. Some of the noteworthy achievements in the period under
Lucknow Regional Office (Uniswar) and Ludhiana Regional Office

(Gathisheel) were honored for their Hindi House Magazine by their
35
Application
ZamH$mg go {hXr Jh n{H$m Ho$ {bò mU n Ama erS> go AbH$V

{H$`m J`m&
H$mo amO^mfm H$m`md`Z H$mo J{V` ~ZmZo Ho$ {bE ggXr`

g{{V mam {XE JE gwPmdmo H$m AZwnmbZ H$aZo H$m name {X`m&
df 2015-16 Ho$ XmamZ {^bmB, XwJ S>b H$m`mb`, XohamXyZ jor`

H$m`mb`, ^monmb jor` H$m`mb`, H$mo gdlo> amO^mfm H$m`md`Z hoVw
erS> Ama mU n XmZ {H$E JE&
lr {{bX IamV, A`j-gh-~Y {ZXoeH$ jor` H$m`mb`m|

Ho$ {ZnmXZ H$s grjm H$s VWm amO^mfm H$m`md`Z o|o lo>
{ZnmXZ H$aZo dmbo jor` H$m`mb`m| H$mo erS> go gm{ZV
{H$`m J`m& XohamXyZ jor` H$m`mb` H$mo W nwaH$ma m hAm&
bIZD$ jor` H$m`mb` H$mo {Vr` VWm H$mor jor` H$m`mb`
H$mo VVr` nwaH$ma go gm{ZV {H$`m J`m Ama ZmJnwa, ^monmb
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{H$`m J`m&
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ZmoVar {V`mo{JVm, {hXr dV` {V`mo{JVm | {d{^Z {V{W`m|
| nwaH$ma OrVo&
(~) hmao {ZÙmYrZ {d{^Z H$m`mb`m| Ho$ H$B H$Mm[a`m| Zo WmZr`
ZamH$mg mam Am`mo{OV {V`mo{JVmAm| | nwaH$ma OrVo Ama hmar
`m{V ~T>mB&
AmZo dmbo df o| {hXr H$mèmbmAm|, {ZarjUm|,gJmo{R`m go{Zmam|

VWm qhXr Ho$ H$B H$m`H$m| mam OmJ$H$Vm ~ZmZo hoVw amO^mfm
H$m`md`Z H$mo AmJo ~T>mZo H$m {ZM` gH$n {b`m J`m&
ggXr` amO^mfm g{{V :(~)
ggXr` amO^mfm g{{V H$s Vrgar Cn g{{V Zo hmar H$nZr | amO^mfm

H$m`md`Z H$s J{V H$s grjm hoVw lr hHw$ Xod ZmamÙ `mXd, gmgX
H$s A`jVm | MS>rJT> jor` H$m`mb` Ho$ AYrZ S>r S>b H$m`mb`
H$m Xmam 13 OyZ 2015 H$mo VWm ~S>moXam jor` H$m`mb` Ho$ gyaV S>b
H$m`mb` -1 H$m Xmam {XZmH$ 09.10.2015 H$mo {H$`m& lr Be Hw$ma,
hm ~YH$ YmZ H$m`mb` lr Ama. h[ahaZ, Cn hm ~YH$ VWm MS>rJT>
jor` H$m`mb` VWm ~S>moXam jor` H$m`mb` Ho$ A{YH$m[a`m| Ed mb`
Ho$ A{YH$m[a`m| Zo ~R>H$ | gh^m{JVm H$s& g{{V Zo amO^mfm Ho$ g$b
H$m`md`Z Ho$ {bE hmar H$nZr mam {H$E JE `mgm| H$s egm H$s&
ggXr` g{{V Ho$ amO^mfm H$m`md`Z {ZarjU na CZH$s qhXr

AnojmAm| VWm ggXr` Zmdbr âZo g~Yr {df` na qhXr
A{YH$m[a`m| H$mo OmZH$mar XoZo Ho$ {bE ZmbXm pWV {ejU
Ho$ na 26 Ed 27 OyZ 2015 H$mo ApIb ^maVr` qhXr
A{YH$mar go{Zma H$m Am`moOZ {H$`m J`m& go{Zma H$m CXKmQ>Z
hm ~YH$ lr Be Hw$ma Zo {H$`m VWm Bg Adga na gobZ
| lr EZ. Jmonr, Cn ~YH$ YmZ H$m`mb` VWm S>r. EZ. qgh
ZamH$mg Ho$ gX` g{Md CnpWV Wo&
~R>H|$/gobZ Ed gJmo{>`m:(A) ApIb ^maVr` qhXr A{YH$mar gobZ: MoZ 18 OZdar

2016
ApIb ^maVr` qhXr A{YH$mar go{Zma 26, 27 OyZ 2015
mb` mam {ZarjU

{XZmH$ 03.09.2015 H$mo lrVr gwZ em, {dVr` godmE {d^mJ {dV
mb`, ^maV gaH$ma Zo YmZ H$m`mb` oo amO^mfm H$m`md`Z H$s J{V H$s
grjm Ho$ {bE YmZ H$m`mb` H$m {ZarjU {H$`m& mb` H$s A{YH$mar Zo J
jo | ^mdr amO^mfm H$m`md`Z Ho$ `mgm| H$s gamhZm H$s&
amO^mfm | H$s JB J{V H$s grjm H$aZo VWm mb` mam

amO^mfm H$m`md`Z | {H$E JE ZdrZV gemoYZm| H$mo gy{MV
H$aZo Ho$ CXXo` go 18 OZdar 2016 H$mo hm~brnwa_ MoZ
| ApIb ^maVr` {hXr A{YH$mar gobZ Am`mo{OV {H$`m
J`m& gobZ H$m CXKmQ>Z A`j gh ~Y {ZXoeH$ lr
{{bX IamV Zo {H$`m& lr Be Hw$ma, hm ~YH$, lr Ama.
h[ahaZ, Cn hm ~YH$, lr Eg. Ho$. qgh, w` jor`
~YH$ YmZ H$m`mb` lr E. bmoJZmWZ, nm{S>Moar w`
jor` ~YH$ Ed ZamH$mg Ho$ gX` g{Md S>m. S>r. EZ. qgh
gobZ | CnpWV Wo&
YmZr gwajm ~rm `moOZm na {deof ao{S>`mo H$m`H$

lr Be Hw$ma hm ~YH$ Zo YmZr gwajm ~rm `moOZm na hmar H$nZr Ho$
`moJXmZ H$m CoI H$aVo hE AmH$medmUr ZB {Xr H$mo {deof gmjmH$ma {X`m&
qhXr H$mèmbmE Ed `yZrH$moS> {ejU
A`j-gh-~Y {ZXoeH$ Zo AnZo ^mfU | amO^mfm H$m`md`Z

VWm ~rm H$mamo~ma H$s CnbpY`mo na H$me S>mbm& ChmoZo ~b
{X`m {H$ hmam w` `dgm` ~rm Ama JmhH$ godm h& AV:
qhXr H$m{H$m| H$mo {hXr H$m CVamoVa `moJ JmhH$ H$s ^mfU Ho$
$n | ${MnydH$ H$aZm Mm{hE& ChmoZo g^r {hXr A{YH$m[a`mo
36
(A)
{hXr H$mèmbmE:- df 2015-16 H$s H$m``moOZm Ho$ AZwgma

YmZ H$m`mb` mam gV jor` H$m`mb`m| mam qhXr
H$mèmbmE Am`mo{OV H$s JB&
(~)
`yZrH$moS> {ejU:- YmZ H$m`mb` Ho$ H$M m[a`m| H$mo qhXr gmQ>dò a
`yZrH$moS> Ho$ `moJ na {Z`{V {ejU {X`m J`m& YmZ H$m`mb`
mam Omar H$m` `moOZm Ho$ AZwgma g^r jor` H$m`mb`m| Zo qhXr
H$mèmbmAm| VWm `yZrH$moS> H$mèmbmAm| H$m Am`moOZ {H$`m&
Bhilai, Durg DO, Dehradun RO, Bhopal RO were awarded shield

& certificate for the best performance in the Official Language
implementation during 2015-16.
Regional Offices performance was reviewed and Regional

Offices who performed the best in Official language
Implementation were honoured with Shield by Sri Milind
Kharat, CMD. The First Prize was bagged by Dehradun.
The Second Prize was awarded to Lucknow, Kochi was
honoured with the third Prize and the Special Prizes were
bestowed to Nagpur, Bhopal and Ludhiana Regional
offices.
TOLIC ACTIVITIES
COMPETITIONS: Employees of Head Office were
nominated for Hindi Quiz, competition, Hindi Oratorical
Competition on various dates and won prizes.
(b)
Many employees of various offices under our control won

prizes in the competitions conducted by local TOLICs and
added feathers to our cap.
It was resolved to carry forward the implementation of

official language more effectively in the coming years by
creating awareness through Hindi Workshops, Inspections,
Seminars and many programmes through Hindi.
PARLIAMENTARY COMMITTEE ON OFFICIAL LANGUAGE

The Third Sub-Committee of Committee of Parliament on Official
Language visited Mandi Divisional Office under Chandigarh Region
on 13th June 2015 and Surat DO-I under Vadodara Region on
9.10.15 under the chairmanship of Sri HukumDev Narayan Yadav,
M P to review the progress made in Official language Implementation
in our company. Sri Ish Kumar, General Manager, Sri R. Hariharan,
Deputy General Manager, Head Office and Officers of Head Office
and Chandigarh Regional Office and Vadodara Regional office and
Ministry officials attended the meeting. The Committee appreciated
the efforts taken by our company for the successful implementation
of Official Language.
b)
All India Hindi Officers Seminar Chennai 26 &

27th June, 2015
All India Hindi Officers Seminar was organised on 26th
and 27th June, 2015 at Nalanda Learning Centre to
apprise the Hindi Officers about the Expectations of
Parliamentary inspection on OL and filling up of the
Parliamentary Questionnaire. The Conference was
inaugurated by Sri. Ish Kumar, General Manager. Sri N.
Gopi, Deputy Manager, Head Office and Dr.D.N.Singh,
Member Secretary of TOLIC, Chennai were present in the
conference.
MEETINGS /CONFERENCE & SEMINARS :

a)
All India Hindi Officers Conference Chennai -18th
January 2016.
INSPECTION BY MINISTRY
On 3.9.15 Smt. Suman Sharma, Financial Services Dept, Ministry of
Finance visited Head Office to review the progress made in Official
Language. Ministry official appreciated the efforts taken for effective
implementation of Official Language in C Region.
All India Hindi Officers Conference was organised on 18th

January 2016 at Mahabalipuram, Chennai with an object
to review the progress made in Official Language and
apprise the various latest amendments made by Ministry
in Official Language Implementation. The Conference was
inaugurated by Sri Milind Kharat, CMD. Sri. Ish Kumar,
General Manager, Sri R Hariharan, DGM, Sri.S.K. Singh,
Chief Manager, Head Office, Sri.A Loganathan, CRM of
Pondicherry and Dr.D.N.Singh, Member Secretary of
TOLIC, Chennai were present in the conference.
SPECIAL RADIO CAMPAIGN ON PMSBY

Sri. Ish Kumar, General Manager has given special interview on AIR New
Delhi highlighting the contribution of our company towards PMSBY.
HINDI WORKSHOPS & UNICODE TRAINING
Chairman-cum-Managing Director in his address

highlighted the achievements of our company in the field
of Official Language Implementation and insurance
business. He insisted that Hindi personnel should take
interest in progressive use of Hindi and language of the
customer, as our main business is Insurance and customer
a)
Hindi Workshop: Hindi Workshops were conducted by

Head Office and all the Regional Offices as per the action
plan of OL 2015-16.
b)
UNICODE Training - Employees of Head Office, were given

training on the usage of Hindi Software UNICODE regularly.
All Regional Offices conducted Hindi workshops and
37
(a)
service. He advised all the Hindi Officers to comply with

the suggestions made by the Parliamentary Committee on
Official Language to make a good progress in O L
Implementation.
respective TOLIC with Commendation certificate and shield during

the year 2015.
qhXr {Xdg/gmh:- YmZ H$m`mb` Ed H$nZr Ho$ g^r jor`

H$m`mb`m| mam {gV~a 2015 mh o Am`mo{OV {H$`m J`m& Bg
Adga na Am`mo{OV {V`mo{JVmAm| Ho$ {dOoVmAm| H$mo nwaH$ma
XmZ {H$ò JE& ZamH$mg MoZ H$s {V`mo{JVmAm| Ho$ {V^m{J`m|
H$mo ^r Bg Adga na nwaH$V {H$`m J`m& gmH${VH$ H$m`H$
BZ Am`moOZmo Ho$ AJ Wo&
B`m{X& Bg df mB E$. E. Ama {~J E$. E. A{^`mZ Ho$ Abmdm ao{S>`mo

{gQ>r E$. E. na ~S>r g`m o E$. E. A{^`mZ Mbm`m J`m& {d^mJ g^r
X{jU ^maVr` ^mfmAm| Ho$ X{ZH$ AI~mam| | g^r gmdO{ZH$ jo Ho$ CnH$mo
H$s Amoa go MbmE Om aho YmZr gwajm ~rm `moOZm {dkmnZ A{^`mZ |
AJUr WmZ na ahm& {d^mJ ao{S>`mo {Mr, E$. E. MZb Ho$ {bE qOJb
V`ma H$aZo | ^r em{b Wm VWm MoZ ~mT> Ho$ XmamZ g^r gmdO{ZH$ jo
Ho$ CnH$m| H$s Amoa go A`V H$ g` H$s gyMZm na {dkmnZ XoZo H$s
AJUr ahm& {d^mJ Zo YmZ H$m`mb` Ho$ {d{^Z {d^mJmo Ho$ gmMma nmo Ogo
`yZrgO, {Q>g, `yZr H$Q>a Ho$à, moOoQ> gob, Ama.Q>r.AmB. B`m{X
n[aH$nZm VWm wU Ho$ gmW H$manmoaoQ> ~moeg Ama `ygr A{^H$Vm {d^mJ
Ho$ {bE A{^H$Vm {H$Q>mo H$mo V`ma H$aZo H$m ^r H$m` {H$`m& AmJo nm{bgr
n$boQ>m| VWm df 2014-15 H$s dm{fH$ [anmoQ> Ho$ wU Ho$ Abmdm df
2016 Ho$ {bE H$boS>amo VWm S>m`[a`m| Ho$ wU d n[aH$nZm H$m ^r H$m`
{H$`m& hmar H$nZr Zo ^maV Ho$ nyd am>n{V d. S>r. E. nr. Oo. AXwb
H$bm H$mo CZHo$ {M VWm CaU H$mo df 2016 H$s S>màr Ho$ wI n> na
N>mnH$a lmO{b Xr& hmao H$manmoaoQ> H$boS>a Omo {H$ oH$ BZ BpS>`m H$s
Wr na Wm, H$mo nr. Ama. Eg. AmB.-oH$ BZ BpS>`m nwaH$mamo H$s loUr o
Omo {H$ Xoe Ho$ {d{^Z {hgmo | oH$ BZ BpS>`m H$m Mma H$aZo H$s ApIb
^maVr` {V`mo{JVm H$m ^mJ Wm, df gdm}H$> A{^Zd `mg Ho$ $n | W
WmZ go nwaH$V {H$`m J`m&
qhXr `yO boQ>a H$m {dmoMZ:- qhXr {Xdg/gmh gmamoh

2015 Ho$ Adga na YmZ H$m`mb` mam `yZr amO^mfm `yO
boQ>a H$m {dmoMZ {H$`m J`m&
S>m. A~oS>H$a H$s 125 dt dfJmR> Ho$ Adga na bw{Y`mZm jor`
H$m`mb` mam A~oS>H$a dmUr Zm {^mfr m[aH$m H$m {dmoMZ
{H$`m J`m&
amO^mfm {d{Z`m| H$m AZwnmbZ
YmZ H$m`mb` VWm jor` H$m`mb`m| mam {hXr Jh n{H$mAmo| Ho$ Xmo AH$mo
H$m H$meZ, H$m`mb`m| H$m {ZarjU, {^mfr gmQ>doà `yZrH$moS> H$s Amny{V
H$Mm[a`m| H$m {ejU Ama narjm CVrU hmoZo na CZH$mo mogmhZ dm{fH$
H$m`H$ Ho$ AZwgma h&
H$manmoaoQ> gMma
df 2015-16 H$s H$meZ J{V{d{Y`m:-
Q>r-20 {ddH$n {H$Ho$Q> 2016 go OwS>o ^mdZmH$ dma H$m AnZr H$nZr
H$s Mma ~T>V nmZo Ho$ {bE gmao ^maV Ho$ AJUr X{ZH$ gmMma nm| | hmao
mam {dkmnZ gmaU Ho$ gmW Cn`moJ {H$`m J`m& Xoe â Ho$ gmao XeH$m|
VH$ {d{^Z CnmXH$mo {dkmnZ hoVw bmoH${` VWm b`mon`moJr {ddoH$ gV
MZbmo H$m M`Z {H$`m J`m& hmar H$nZr X{jU E{e`m Ho$ EH$m E.Q>r.nr.
Q>o{Zg Qy>ZmoQ> X MoZB AmonZ Eà gob Q>o{Zg Qy>ZmoQ> 2016 Ho$ bo{Q>Z
m`moOH$ Ho$ $n | bJmVma `mahdr ~ma m`moOH$ ~Zr&
YmZ H$m`mb` Va na H$manmoaoQ> gMma {ZJ ^maV gaH$ma Ho$ g~go

ngXrXm ~rmH$Vm VWm g^r {hV Jm{h`m| mam e{gV {ddgZr` ~mS> hmoZo
go hmar H$nZr Ho$ {dOZ Ho$ VmaV` o hmar H$nZr H$s gV gMma
J{V{d{Y`m| H$m gMmbZ H$aVm h& BgH$m CXXo` C{MV Ama dYm{ZH$ VarHo$
go hmam Mma H$aVo hE H$nZr H$s ~mS> N>{d H$m {ZmU H$aZm VWm Cgo
O~yVr XmZ H$aZm h& Bg {d^mJ Zo Am OZVm Ho$ ` `wZmBQ>oS> B{S>`m
H$s {ZaVa CnpW{V VWm gwXT> ~mS> N>{d Ho$ {ZmU Ho$ CXXo` Ho$ gmWgmW Mma J{V{d{Y`m| H$s {Xem | EH$ D$Odr VWm AmH$mH$ `yh aMZm
H$m XeZ {H$`m h& ò J{V{d{Y`m CZ jom| | Ohm hmar CnpW{V H$ h,
w`V: hmar nm{b{g`m| Ho$ ~mao | OmJ$H$Vm H$m {ZmU H$aZo VWm Am
OZVm H$mo ~rm CnmXmo H$s OmopI `yZrH$aU Ho$ Cnm` Ho$ $n | m H$aZo
H$s Amd`H$Vm Ho$ ~mao | OmJ$H$ H$aZo na Ho$pV Wr&
gyMZm mmo{JH$s
H$nZr H$s H$moa ~rm Umbr na AmYm[aV Ho$r`H$V ~mCOa dmbr ~hX gyMZm
mmo{JH$s n[a`moOZm g^r H$m`mb`m| | ha Vah Ho$ H$mamo~ma-~rm boIZ, Xmdm|,
boImH$Z, ZdrH$aUmo VWm [anmoQ>m} H$mo n[a{Y | boVo hE d{VV H$s JB& H$moa
Umbr o `wZmBQ>oS> B{S>`m Ho$ Vm{dV 12 Vah Ho$ H$mamo~ma Ho$ 200 go A{YH$
CnmXm| H$s lIbm mOyX h Omo mBH$mo, bmw Ed ` Cm|, `pV`m|, gyhmo:
H$manmoaoQ> KamZm| VWm am` Ama Ho$ gaH$ma H$s `moOZmAm| Ho$ OmopIm| H$mo
Amd[aV H$aVo h&
Bg df H$s Mma `moOZm H$m hdnyU da gmJr | EH$$nVm gw{ZpMV

H$aVo hE WmZr` n[adoe H$s O$aVm| H$mo nyam H$aZo dmbo d{d`nyU {>H$moU
Ho$ gmW H$nZr Ho$ {ddmg na Iam CVaZo dmbo ~mS> H$m {ZmU H$m` Wm
VWm YZ Ho$ y` H$mo CrH$V H$aZo H$s {Xem | Mma gmYZm| Ho$ erf na
nhMZm ^r Wm&
A{^H$VmAm|, S>rbam|, ~H$E`yaog gh^m{J`m| Ama ~moH$am| H$mo moQ>a, `pVJV

XwKQ>Zm, dm`, `mm, A{ Ed goYmar CnmXm| Ho$ ~rm boIZ Ho$ {bE
AmZbmBZ nm{b{g`m Omar H$aZo hoVw nmoQ>b gw{dYm XmZ H$s JB h& AnZm
gr.Eg.gr. (H$mZ g{dg goQ>g) nmoQ>bm| | moQ>a, `pVJV XwKQ>Zm VWm A{
~rm CnmXm| H$mo XmZ H$aZo H$s gw{dYm h&
H$nZr H$s {dkmnZ Mma `moOZm Zo og, XyaXeZ, ao{S>`mo, ~mhar hmo{S>g
B`m{X Ho$ gmW {d{^Z gMma m`m| VH$ nhM ~Zm`r& ~mhar r{S>`m hmar
A{^`pV H$m EH$ geV m` ~Zm ahm& Bg| em{b Wo- hmo{S>g,
{Z`mZ gmBZ, ~g eoQ>a, ~g ~mS>r na {MmH$Z, Q>m{b`m VWm EAanmoQ>
38
body paintings, hoardings at railway stations, trolleys at Airports

etc. This year in addition to the MY FM and BIG FM Campaign , FM
campaign was carried out in Radio City FM on a larger scale. The
department was in the forefront in the advertisement campaign
for PMSBY carried out on behalf of all the PSUs by carrying out
the advertisement in all southern language dailies. The department
was also involved in the production of jingles for the Radio Mirchi
FM channel & in the advertisement carried out at very short notice
and on behalf of all PSUs at Chennai during the Chennai flood.
The department was also involved in the designing and printing
of newsletter of various departments at Head Office like Unisurge,
Matrix, Unicustomer Care, Project Cell, RTI etc., corporate brochures
and in the preparation of agency kits for Umex agency department.
Further the printing and designing of Calendars, Diaries for the year
2016 were carried out in addition to the printing of Policy Pamphlets
and Annual Report for the year 2014-15. Our Company rendered
tribute to late Dr. APJ Abdul Kalam, the former President of India by
carrying out his image & quote on the 2016 Diary front wrapper. Our
Corporate Calendar with the theme MAKE IN INDIA, was awarded
the first position in the PRSI-Make In India Award Best Innovation
to Promote Make In India - against All India Competition from various
parts of the Country.
RELEASE OF HINDI NEWS LETTER :: Head Office released

Hindi News Letter UNIRAJBASHA on the occasion of Hindi
Day / Week Celebrations 2015.
On the occasion of 125th birthday of Dr. Ambedkar a
Bilingual Souvenir AMBEDKAR VANI was released by
Ludhiana RO .
COMPLIANCE OF OL REGULATIONS
Publication of Hindi House Magazine by Head Office (two issues) and
Regional Offices, inspection of offices, supply of bilingual software
UNICODE, training of employees and awarding incentives on
passing examinations were in accordance with Annual Programme.
CORPORATE COMMUNICATIONS
PUBLICITY ACTIVITIES FOR THE YEAR 2015-16
HINDI DAY /WEEK/ MONTH was celebrated in Head Office

and in all offices of the company during the month of
September 2015. Prizes were awarded to the winners of
the competitions conducted on this occasion. All the
participants of the TOLIC Chennai competitions were
honoured on this occasion. Cultural programs were a part
of the celebrations.
Euphoria associated with the T-20 World Cup 2016 was utilised to our
advantage by carrying out advertisement in leading dailies across the
length and breadth of our country. Judicious mix of popular and niche
channels were considered to advertise various products to reach all
types of viewers across the country. Our Company continued to be
the sponsor for the eleventh year in succession of the Chennai Open
Aircel tennis tournament 2016, the only international ATP tennis
tournament in South Asia as the platinum sponsor.
Corporate Communications at Head Office carries out all

communication related activities of our Company in tune with the
vision of our Company to be the most preferred insurer in India
and a trusted brand admired by all stakeholders. The objective is
to build and reinforce the brand image of the Company by carrying
out publicity in a fair and ethical way. The department displayed an
energetic and aggressive disposition towards publicity activities with
the object of continued visibility and creation of a strong brand image
for United India among the public. The activities were focused mainly
to create awareness of our policies where our presence is low and
educate the masses the need to avail the insurance products as a
risk mitigation measure.
The Companys major Information Technology project of centralized

browser based CORE INSURANCE software solution was rolled out in
all offices in all lines of business, encompassing underwriting, claims,
accounting, renewals and reports. An array of more than 200 products in
12 lines of business offered in United Indias product range covering risks
of Micro, small and medium enterprises, individuals, groups, corporates
and insurance of State and Central Government schemes, are available
in the CORE solution.
The task of building a relevant brand that customer could trust was
the underlying tone of the publicity plan for the year by ensuring
uniformity of content while permitting diversified approaches suited
to local environment and to achieve media mix to maximise value
for money.
Portals for online issuance of policies have been provided to Agents,

Dealers, Bancassurance partners, and Brokers for underwriting Motor,
Personal Accident, Health, Travel, Fire andBurglary products. Motor, PA
and Fire insurance products are provided in Apna CSC (Common Service
Centres) portals. Tie ups with leading Motor OEM manufacturers,have been
successfully implemented using web services integration with their portals.
The Companys advertising plan encompassed various media

including Press, Television, Radio, Outdoor Hoardings etc. Outdoor
media continued to be the dominant channel for our expression.
The range included Hoardings, Neon signs, Bus shelters, Full Bus-
39
INFORMATION TECHNOLOGY
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28
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40
and monitoring facility at HO. It is integrated with the IGMS of IRDA.

E-waste policy compliant with GOI Guidelines has been adopted by the
Company, contributing towards a pollution-free environment.
Transactional data uploads to IIB site are happening online daily for Motor
line of business. Automated data submission to IIB through web services
will commence in FY 2016-17.
The Company Website is updated with the latest information under

Public Disclosure norms and enriched with Customer Centric features.
WCAG 2.0 Level AA compliant website ensures easy access to physically
challenged visitors.
Dynamic Dashboard reports on various aspects of the Companys

performance built with in-house expertise, are accessible to all employees
through My Page in Intranet.
MPLS Network has been upgraded to support hassle free operations at

high / moderate volume offices.
Multiple premium payment options such as Mobile payment, NEFT/RTGS,

credit card, debit card and Payment gateway are available for Customers;
it is proposed to expand the range of premium payment modes and policy
options for intermediaries as well as Customers in the coming year.
E-mail facility is available for all employees following the increase in

capacity under the new mailing solution purchased from IBM.
Data interchange with TPAs for Health policies and claims is facilitated
through access provided to them to CORE insurance modules.
End Point Security Solution (CDMS) was successfully implemented at

Head Office and at Regions with features like single domain control of
all desktop computers, antivirus solution,disk encryption and data loss
prevention, to name a few.
Another feather in the cap was the successful rollout and usage of major
SAP modules such as centralized Payroll system, Class 1 and 2 Promotion
policy, online Annual Performance appraisal (APAR) for Class 1, 2, and 3,
online Property returns. The Online APAR( Annual Performance Appraisal
Reporting and Review) module was redesigned to include the amendment
in the APAR process to disclose APAR contents to appraisees online and
also to provide option to appraisees to submit their representation to the
Competent Authority online. It further enables appraisees to view full
appraisals online after final review by the Competent Authority.
Video conferencing facility using a customized solution, has been made

available to all office levels facilitating face to face interactions between
employees and also with other stakeholders.
For FY 2016-17, roadmap has been chalked out for digitizing policy
issuance, administration and servicing, automation of claims processes,
and launch of applications for customers and intermediaries. The planned
slew of initiatives would propel the Company to the forefront in digital
enablement and skills and position United India as leader in Customer
care and service
Elections for PF trustees was held online for the first time in 2015 -16
with an electronic ballot system.
United India was in the forefront in successful implementation of Pradhan
Mantri Suraksha Bima Yojana with key services support provided
by IT systems to partnering Banks numbering more than 200, for the
enrollment of more than 2.36 crore persons under the Scheme.
HUMAN RESOURCES DEVELOPMENT AND PERSONNEL Organizational Network

As on 31.3.2016 the company has 2080 offices.
Regional Offices
28
LCBs
Divisional Offices
413
Branch Offices
663
Micro Offices
967
Virtual Office
TOTAL
2080
41
United Indias Grievance Management System (UGMS) integrates

Grievance Registration with work flow down to Operating Office level
H$Mmar g`m H$m `mam:H$nZr | H$màV 16345 H$Mm[a`mo H$m loUrdma `mam Bg H$ma h:loUr
H$Mmar g`m
loUr-I
6990
loUr-II
{dnUZ 780
nemgZ 318
1098
loUr-III
6461
loUr- IV
1792
4
AeH$m{bH$ H$Mmar
16345
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{V^mJr
31
1318
521
7500
ZoeZb B`ya|g AH$mXr
96
835
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56
94
704
9747
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jor` {ejU Ho$
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42
Break up of Number of Employees

The Company has 16,345 employees with the following class-wise break up:Class
No. of Employees
Class I
6990
Class II
(Marketing
- 780
Administration - 318)
1098
Class III
6461
Class IV
1792
PTE
TOTAL
16345
Recruitment
During the year 2015-16, 750 Assistants have been inducted into
the class-III cadre.
Organizational expectations is taken care by Corporate Training

Department. Training Calendars are prepared in advance on need basis at
each level. Training Advisory Group of General Managers and DGMs meet
twice a year to review and reform the overall training performance of the
Company. The Training at United India in 2015-16 is briefed below:
Training:
Enhancing the competency of our Human Capital in tune with the
Name of Training Centre
No of Programmes
Participants
31
1318
521
7500
National Insurance Academy
96
835
Other External Institutes
56
94
704
9747
Corporate Learning Centre, HO

Regional Training Centres
Total
All India Trainers Meet and Personnel Officers Meet 2015-16 took
place at Thiruvananthapuram on 21st and 22nd January 2016. Best
RTC awards were given to the best three performers on Regional Training
activities, which is a unique initiative in United India.
HUMAN CAPITAL MANAGEMENT
Our Senior Management (Scale VI) participated in various Leadership

programmes conducted by IIMs and other External reputed Institutes.
Exclusive Management Training Programmes involving reputed
Corporate Trainers were organised for the promotee Scale IV and Scale
V officers. The special programme conducted on Corporate Etiquettes,
Training programme for women officers of Internal Complaints
Committee of Regional Offices and HO, Career Planning programme for
young officers in two batches and the refresher programme ULEP at NIA
for nominated Scale IV officers have to be mentioned specially. Annual
Report on Corporate Training 2014-15, Training Calendars-2015-16 and
the Souvenir published in connection with the All India Trainers Meet
2015-16 are the publications during 2015-16.
The new state of art platform SAP-HCM (System Application and

Products Human Capital Management) was launched by the
Company wherein various Modules were put to use as under:
Personnel Administration (PA) Complete life cycle of the employee
is captured and updated.
Organization Management (OM) The Organization Tree is in
place which maps each employee to his Position. As and when new
offices are opened, it is updated in SAP system and employees are
being mapped to respective offices on day to day basis.
Deputation Module keeps track of employees movement to other
Organization on Deputation and Repatriation to United India, if any.
43
Apart from the above, 11,797 participated in customer seminars/Meetings

conducted by Regional Offices. At Learning Centre 13 workshops
conducted by Head Office Departments took place with a participation
of 344 employees of all cadres. Around 6500 Agents were also trained in
our Regional Training Centres and 27 brokers were trained at LC.
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Ho$ ~hwIr CH$> {ZfnmXZ H$mo ~T>mZo | H$m$s hX VH$ `moJXmZ {H$`m h&
df 2015-16 Ho$ {bE jor` H$m`mb`m| VWm Eb. gr. ~r. Ho$ Ho$. Ama. E.
y`mH$Z H$s {H$`m gm hB h& A` gyhm| VWm `pVJV H$m` nmbH$m|
Ho$ {bE `h A^r {H$`mJV h&
JV df H$s Vah df 2015-16 Ho$ {bE ~YH$m| (gdJ IV) VWm w`
~YH$m| (loUr V>) Ho$ {bE `pVJV Ho$. Ama. E. H$mo g~{YV {ZfnmXZ
y`mH$Z {H$`m | em{b {H$`m OmEJm&
Amem H$s OmVr h {H$ Ho$. Ama. E. Ama nr. Eb. AmB. `moOZm H$nZr |
H$m`nmbH$m| Ho$ ~rM EH$ {VnYm nXm H$aVr ahoJr Ama Bggo CnmXH$Vm
| gwYma hmo gHo$Jm Vm{H$ H$nZr AmZo dmbo dfm] | AnZo b`m| H$mo hm{gb
H$aZo | gW hmo gHo$&
df 2014-15 Ho$ XmamZ nr. E. Eg. {d^mJ Ho$ {bE gmQ>dò a V`ma {H$`m
J`m Wm Ama df 2015-16 Ho$ XmamZ BgHo$ gdYZ H$m H$m` {H$`mJV ahm h&
Eg. gr./Eg. Q>r./Amo. ~r. gr./nr. EM./myVnyd g{ZH$ dobo$à:H$nZr mam Eg.gr./Eg.Q>r. Ho$ {bE {Z`wV nXm| H$m AmajU Ama Am`w grm
| {e{WbrH$aU VWm nXmoZ{V | AmajU g~Yr mJ {ZX}em| H$m AZwnmbZ
{H$`m Om ahm h& mb` mam Omar {ZX}emZwgma Amo.~r.gr. loUr VWm
{X`mJ loUr Ho$ bmoJm| Ho$ {bE ^Vr AmajU g~Yr {ZX}emo H$m nmbZ {H$`m Om
ahm h& S>m. A~oXH$a H$`mU `mg mam Eg.gr./Eg.Q>r. VWm Amo.~r.gr.
H$Mm[a`m| Ho$ {bE [a`m`V, mogmhZ VWm {dVr` ghm`Vm Xr Om ahr h&
H$nZr Zo 4 OZdar 2016 H$mo AmajU nm{bgr na {demInQU_ | gnH$
A{YH$m[a`m| Ho$ {bE EH$ H$mèmbm H$m Am`moOZ {H$`m& lr.gr.gr. CZr
HUZ godm {ZdV Cn g{Md, E. Amo. E$. ^maV gaH$ma Zo AmajU
nm{bgr na {dVma go EH$ g {b`m&
gdJ- I nXmoZ{V nm{bgr (g.-1 n. nm.):- nXmoZ{V {H$`m 2015-16

go `h {H$`m gn Ho$ EM. gr. E. (mZd nyOr ~YZ) mS`yb Ho$ m`
nyar Vah go {Z`{V hB h Ama BgHo$ n[aUm 100 {VeV gwa{jV/
{ddgZr` nmE JE&
{ZnmXZ ~YZ Umbr (nr. E. Eg.):-
gn doVZ n{OH$m:- gn doVZ n{OH$m H$m g$bVmnydH$ {H$`md`Z Ab

2015 go ma^ hmo J`m {Og| g^r H$Mm[a`m| (16000 go A{YH$) Ho$
doVZ H$mo YmZ H$m`mb` Va na {H$`mJV {H$`m Om ahm h& gn doVZ
n{OH$m Ho$ w` bm^ Bg H$ma h:1.
mZd ggmYZ H$m {ddaU VWm doVZ {ddaU EH$ EH$sH$V
boQ>$m na AVZ hmo OmVm h& Bgo gQ>rH$ mQ>a {ddaU
Ho$ aIaImd, {d{YH$ {d^mJmo Ogo mZd ggmYZ, gyMZm
mmo{JH$s, WmnZm, boIm B`m{X Ho$ ` nyU gd`
Wm{nV H$aZo | gj ~Zm`m h&
2.
g^r H$MmarJU H$mo AnZr doVZ nMr H$Mmar d` godm
(Bbm`r go$ g{dg) | XoIZo H$s gw{dYm CnbY h&
3.
g^r [anmoQ> gn doVZ n{OH$m go {ZJ{V H$s Om ahr h&
4.
OZb dmCMa VWm {d{>`m EH$ hr gmQ>doà | gnZ hmo
ahr h&
gn | n|eZ mS`yb OwbmB 2015 | {H$`mpdV hAm:- Bg mS`yb Ho$
m` go godm {ZdpV H$Mm[a`m| H$mo n|eZ JUZm hoVw AnZo n|eZ
AmdoXZ AmZbmBZ âZo H$s gw{dYm CnbY h& Bg mS`yb Ho$ VhV
n|eZ gJUZm, OrdZ mUn Ama boIm/ImVm ~YZ nhby g^r H$m
aIaImd hmo ahm h&
gn Umbr | gdJ-II nXmoZ{V nm{bgr (g.2 n.nm.):- Bg mS`yb
H$m df 2015 H$s nXmoZ{V {H$`m Ho$ {bE {dnUZ {d^mJ YmZ
44
Employee Self Service portal itself. (Review for Class I happens in

SAP R3 instead of Employee Self Service) Along with regular APAR,
Stagnation CR is also enabled and implemented from March 2016.
Training and Event Management Module has been devised and is

being put into use.
Disciplinary Proceedings (Vigilance) Module: This Module is used

effectively by HO, Vigilance Department for all vigilance cases.
Reservation and Roster Management helps in preparation of Rosters

as per the Government directive. The revised Roster format is also
configured in SAP system.
Disciplinary Proceedings (Non Vigilance) Module: This module

has been rolled during March 2016
Online Property Returns on SAP HCM is being used by all the Class
I Officers to submit their Property Returns for the past four years
Performance Management System (PMS)

Continuing the PMS process for the year 2015-16, Key Result Area
(KRA) based Targets were finalized for all the Operating Groups and
individual Executives. The seventh year of implementation of the
PMS process in the Company witnessed an increased awareness
about the PLI Scheme, among the employees, which resulted in an
enhanced level of motivation and productivity which to a large extent
contributed to the allround good performance of the Company.
Online APAR (Annual Performance Appraisal Report)for Class I

Officers is being effectively used by all Officers from 2012-13. The
entire process of Self Appraisal, review, disclosure of APAR contents,
representation, final rating by the Competent Authority and the
disclosure of Competent Authoritys rating to the Officers is captured
in SAP system and is being successfully being utilized for Promotion
Exercise also.
The KRA performance appraisal process for the year 2015-16 was
completed for ROs & LCBs. For the other groups and individual
Executives it is under process.
SAP Payroll: SAP Payroll was successfully rolled out from April 2015
in which salary of all employees (16000 and odd) is being centrally
processed at Head Office. The following are the major advantages
of SAP Payroll:
1.
HR data base and the salary data get updated in an
integrated platform. This has enabled maintenance of
accurate master data, complete co-ordination between
various departments like HR, IT, Establishment, Accounts
etc.
Individual KRA Targets for Managers (Scale IV) and Chief Managers
(Scale V) would be integrated into the performance appraisal process
relevant to them for the year 2015-16 like last year.
It is expected that the KRAs and the PLI Scheme would continue to
encourage a healthy competition among the offices in the Company
to improve productivity and to facilitate the company to achieve its
objectives year on year.
All employees have the facility to view their payslip in

Employee Self Service
3.
All reports are generated from SAP payroll
4.
Journal Vouchers and postings happen in the same

software.
During the year 2014-15 software for PMS Department was

developed and enhancement of software is in the process during
2015-16.
WELFARE OF SC/ST/OBC/PH/Ex-servicemen
Pension Module in SAP rolled out during July 2015: Retiree

pensioners are able to fill in their online pension application
for commutation of pension through this module. The pension
calculation, life certificate and the accounting aspects are all taken
care under this module.
The Company complies with the guidelines of Government on

extending reservation of posts, relaxations of age in recruitment
and reservation of posts in promotion for SC/ST. The Company also
adheres to the guidelines issued by the Government on reservation
for OBC categories in recruitment as well as those governing
Physically Handicapped personnel concessions. Incentives and
financial support are being extended from Dr. Ambedkar Welfare
Trust to the SC/ST and OBC employees.
Class II Promotion Policy (C2PP) in SAP HCM: This Module was

successfully used by HO, Marketing Department for Promotion
Exercise during 2015 and the results were matching with the legacy.
The Company conducted a Workshop for Liaison Officers on Reservation

Policy on 4th January, 2016 at Vizag. Shri .C. C. Unnikrishnan, Rtd.
Deputy Secretary, MOF, GOI has taken a session with regard to the
Reservation Policy in detail.
Class III/IV APAR: Online APAR was enabled for all the Class III/IV
employees from January 2016. The improvement in this system
when compared to Class I APAR is that the entire process of Self
Appraisal, review, disclosure, representation etc. happens in
45
2.
Class I Promotion Policy (C1PP) is done fully in SAP HCM for PE

2015-16 and the results were found to be 100% accurate.
Amo.~r.gr. H$Mm[a`m| Ho$ H$`mU na ggXr` g{{V Zo 04.11.2015

MoZ Ho$ A``Z Xmao na Am`r VWm d[a> H$m`nmbH$m| Ho$ gmW hmao
(A`j-gh-n~Y [ZXoeH ) hmoX` go {br Ama Amo.~r.gr. H$Mm[a`m|
go g~{YV {d{^Z mbm| na {dMma {de {H$`m&
na d[aV {ZU` boZo H$s Anojm H$s OmVr h Ama `h OrdZ Ho$ A` jom|
| ^r AN>m H$aZo | ghm`H$ h& emar[aH$ dm` VWm Z H$s
J{V{d{Y`m| | gmO` EH$ O{Q>b H$m` h& `h Z H$m ^` hr h Omo
MwZm{V`m| H$m gmZm H$aZo go amoH$Vm h& Iobm| go hr Am gmZ VWm
Am {ddmg H$m {dH$mg hmoVm h&
g$mB H$Mm[a`m| Ho$ am>r` Am`moJ Ho$ mZZr` A`j-gh-n~Y

[ZXoeH Zo {XZmH$ 29.04.2015 VWm 09.10.2015 H$mo H$e: MoZ
VWm hXam~mX H$m Xmam {H$`m ChmoZo hmar H$nZr Ho$ g$mB H$Mm[a`m|
go g~{YV {d{^Z mbm| na hmao d[a> H$m`nmbH$m| go {bH$a {dMma
{de {H$`m&
Bg {dOZ Ho$ AmYma na Ho$r` IobHy$X g{{V Zo Iob J{V{d{Y`m| H$mo

~T>mdm XoZo Ho$ {bE H$Mm[a`m| AnZr ${M Ho$ AZwgma Iobmo | ^mJrXmar
H$aZo Ed mZ{gH$ VWm emar[aH$ D$Om gH$mamH$ $n go ~T>mZo hoVw
~hV gr Iob J{V{d{Y`m Am`mo{OV H$aZo H$s {V~Vm Xem h&
g$mB H$Mm[a`mo Ho$ am>r` Am`moJ Ho$ mZZr` gX` Zo {XZmH$ 07 mM

VWm 10 mM 2016 H$mo H$e: nwUo Ama w~B H$m Xmam {H$`m& ChmoZo
hmao d[a> H$m`nmbH$mo go wbmH$mV H$s VWm hmam> am` | g$mB
H$Mm[a`m| go g~{YV {d{^Z mbm| na {dMma {de {H$`m&
H$Mm[a`m| | Iob ^mdZm Ho$ {dH$mg, gm$ gwWao Iob, Q>r Ho$ gX`m|
VWm {damo{Y`mo Ho$ gmW ghX`Vm, Z{VH$ `dhma, OrV `m hma Ho$ g`
{Z>m Ama J[amnyU `dhma Ho$ {dH$mg hoVw {Z`{V $n go ApIb
^maVr` Va na ~hV gr {V`mo{JVmE Am`mo{OV H$s OmVr h& {dVr`
df 2015-16 Ho$ XmamZ mwdZoda jor` H$m`mb` mam mwdZoda |
8dt ApIb ^maVr` ~S>{Q>Z {V`mo{JVm H$m Am`moOZ {H$`m J`m&
AZwgy{MV Om{V Ho$ am>r` Am`moJ ZB {Xr Ho$ mZZr` gX` Zo AnZo
AhXm~mX Xmao na {XZmH$ 28.01.2016 H$mo hmao d[a> H$m`nmbH$m| go
{bH$a JwOamV am` Ho$ Eg.gr./Eg.Q>r. H$Mm[a`m| go g~{YV {d{^Z
mbm| na {dMma {de {H$`m&
jor` Va H$s {V`mo{JVmAmo | gh^m{JVm Ho$ Abmdm, H$Mm[a`m| H$mo

amQr` Va H$s {V`mo{JVmAm| Ho$ gmW {d{^Z ~mhar {V`mo{JVmAmo hoVw
^r Zm{V {H$`m J`m& bJmVma `mahdr ~ma h Eàgob MoZ AmonZ
E.Q>r.nr. Q>o{Zg Qy>ZmoQ> 2016 Ho$ bo{Q>Z m`moOH$ ~Zo&
Amo.~r.gr. H$`mU na ggXr` g{{V H$s gVw{V`m| Ho$ AmYma na hmar

H$nZr Zo Amo.~r.gr. H$Mm[a`m| Ho$ {bE AbJ go w` gnH$ A{YH$mar
H$mo Zm{V {H$`m h&
1.4
g^r nm gdJ I Ho$ g^r nm Amo.~r.gr. H$Mm[a`m| Ho$ {bE 2014-15

H$s nXmoZ{V {H$`m go nXmoZ{V nyd {ejU H$s ew$AmV H$s JB&
AmV[aH$ boIm narjm:-
H$nZr Zo Eg.gr./Eg.Q>r. VWm Amo.~r.gr. H$`mU gJR>Zm| Ho$ nXm{YH$m[a`m|

Ho$ {bE {XZmH$ 5 VWm 19 $adar 2016 H$mo H$e: hXam~mX Ama gya
| AmajU nm{bgr na {ejU Am`moOZ {H$`m&
AmV[aH$ boIm narjm {d^mJ H$m Ho$U Bg ~mV na Wm {H$ AmV[aVH$

boIm narjm H$mo {H$g Vah n[ad{VV {H$`m OmE {H$ dh ~YZ Ho$ b`m| H$s
m{ | ghm`H$ ~Z gHo$& AmV[aH$ boIm narjm Omo {H$ H$manmoaoQ> ~YZ
H$m {dVm[aV A h, H$mo {ZUm`H$ { Ho$ $n | OmZm OmVm h& n[adVZ
dVmZ CâVo hE ~mOma n[aX` | nanamJV g`mH$ boIm narjm Ho$
~Om` nyao ~rm V VWm {H$`mJV boIm narjm H$s Amoa A{^{ZXo{eV h&
df 2015-16 H$s nXmoZ{V {H$`m Ho$ XmamZ AJbo gdJ | nXmoZ{V

hoVw nm g^r Eg.gr./Eg.Q>r. VWm Amo.~r.gr. H$Mm[a`m| H$mo {d{^Z
jor` {ejU Ho$mo na {ejU {X`m J`m&
AmV[aH$ {ZÙ Ama {dVr` [anmo{Q>J H$s {ddgZr`Vm

~T>mZo Ho$ {bE CR>mE JE H$X
gwXya pWV H$m`mb`m| H$s J{V{d{Y`m| H$s {ZJamZr na Omoa {X`m Om ahm
h VWm CZ na ^r {Og| mH${VH$ $n | A{YH$ {ZJamZr Ano{jV h&
bJ^J 82 boIm narjm > A{YH$m[a`m| H$s lepV Ho$ gmW {d^mJ Zo
jor` H$m`mb`, Eb.gr.~r. h~m| S>bm|, emImAm| VWm 936 mBH$mo
H$m`mb`m| g{hV Hw$b 1695 H$m`mb`m| H$m boIm narjm > {H$`m& BgHo$
Abmdm BZ| go 214 H$m`mb`m| H$m Xw~mam boIm narjm {H$`m J`m& 9
{deof boIm narjm nyao {H$E JE VWm 152 AmH$pH$ boIm narjm> gnZ
hE& YmZ H$m`mb` Ho$ ^r bJ^J g^r {d^mJm| Ho$ boIm narjm hE& boIm
narjm> gob Ho$ {ZnmXZ H$s {ZJamZr VWm ~rm CmoJ Ed H$nZr | hE
ZdrZV {dH$mgm| go g^r boIm narjm > gX`m| H$mo n[a{MV H$aZo Ho$
`moOZ go df Ho$ XmamZ boIm narjm A{YH$m[a`m| H$s Mma jor` ~R>H$m|
VWm EH$ ApIb ^maVr` boIm narjm gob ^mar gobZ H$m Am`moOZ
{H$`m J`m& boIm narjH$m| H$m {ejU EH$ {ZaVa MbZo dmbr {H$`m h,
Ohm H$nZr | ZE gm$Q>doà Ho$ {dH$mg Ho$ VmaV` | g^r H$mo MmbZ
AmajU g~Yr {ZX}em| Ho$ AZwgma H$Mmar Amdmgm| Ho$ Am~Q>Z | ^r

n`m {V{Z{Yd {X`m Om ahm h&
S>m. ~r. Ama. A~oS>H$a H$s 125 dt OeVr Ho$ am>`mnr Am`moOZ Ho$
Adga na H$nZr Zo ^r gmm{OH$ `m` Ed A{YH$m[aVm mb` mam
gwPm`r JB {d{dY J{V{d{Y`m| H$m ma^ {H$`m h&
Ho$r` IobHy$X g{{V:df 2015-16 H$s Iob J{V{d{Y`m:
Ho$r` IobHy$X g{{V (gr.Eg.gr.) H$Mm[a`m| H$mo {d{^Z Iobm| |
{V^m{JVm H$admZo hoVw {d{^Z Iob J{V{d{Y`m| Ho$ Am`moOZ hoVw {V~
h& Iobm| go Iob ^mdZm nXm hmoVr h, {>H$aU CXma hmoVm h, gH$mamH$Vm
AmVr h {Oggo bmoJm| Ho$ gmW ha Vah Ho$ mhmb | H$m` H$aZo | XX
{bVr h& Bggo Z H$mo gwHy$Z {bVm h Ama Iob mH${VH$ VZmd
{ZdmaH$ H$m H$m` H$aVo h& EH$ pIbmS>r `pV go n[apW{V Ho$ AmYma
46
areas of life as well. The relationship between the soundness of the

body and the activities of the mind is subtle and complex. It is the
lack of faith in oneself that makes one afraid of meeting challenges.
It is sports which builds self esteem and self confidence.
Honble Chairman, National Commission for Safaikaramcharis

visited Chennai and Hyderabad on 29.4.2015 & 9th October, 2015
respectively, met our Senior Executives and discussed various
matters relating to Safaikaramcharis in our company.
Based on this vision, the Central Sports Committee has committed

itself to promote sports activities amongst the employees so as to
facilitate the participation of the employees in various sports events
according to their interests & to channelize their mental and physical
energy in a more positive manner.
Honble Member, National Commission for Safaikaramcharis visited

Pune and Mumbai on 7th March & 10th March, 2016 respectively,
met our Senior Executives and discussed various matters relating to
Safaikaramcharis in Maharashtra State.
Study tour of Parliamentary Committee on Welfare of OBC employees,

visited Chennai met our CMD along with our Senior Executives on
04/11/2015, discussed various matters relating to OBC employees.
Various events are conducted regularly on an All India basis to develop

sportsmanship attitude among the employees, an attitude which strives
for fair play, courtesy towards team mates and opponents, ethical
behaviour, integrity and grace in victory or defeat. During the financial
year 2015-16, the 8th All India Shuttle Tournament was organized at
Bhubaneswar by RO Bhubaneswar.
Honble Member, National Commission for Scheduled Castes, New

Delhi visited Ahmedabad, met our Senior Executives on 28/01/2016,
discussed various matters relating to SC/ST employees of Gujarat
State.
Employees were also nominated to various outside tournaments including

the National level tournaments apart from participating in Regional level
tournaments. For the eleventh year in succession , we were the Platinum
Sponsors for the Aircel Chennai Open ATP Tennis Tournament 2016.
Based on the recommendations of the Parliamentary Committee on

welfare of OBC, our company has nominated separate Chief Liaison
Officer for OBC employees.
Pre-promotion training to all eligible OBC class-I officers has been
introduced from 2014-15 promotion exercise.
1.4
The company has conducted Training on Reservation policy for office

bearers of SC/ST & OBC Welfare Organisations at Hyderabad and
Mysuru on 5th& 19th February, 2016 respectively.
MEASURES TAKEN TO ENHANCE CREDIBILITY

OF INTERNAL CONTROLS AND FINANCIAL
REPORTING
The focus of Internal Audit Department was how to transform Internal

Audit as a tool to assist the Management to achieve the goals.
Internal Audit being the extended arm of the Corporate Management
is considered the Critical Friend. The Transformation, in the wake
of the emerging Market Trends, has been directed towards the
System and procedural Audit rather than the transactional audits.
Emphasis is laid on monitoring the activities of the remotely located
offices and those which by nature need more supervision. With
the manpower of around 82 Audit Officers the department has
successfully completed audit of 1695 offices including the Regional
Offices, LCBs, Hubs, Divisions, Branches and 936 Micro Offices.
In addition, 214 of the above were audited second time. 9 Special
Audits have been completed and 152 surprise Inspections have been
conducted. Most of the Departments of Head Office have also been
audited. With a view to monitoring the performance of the Audit Cell
as also apprising the Audit members of the latest developments in
the industry and Company, 4 Zonal Meetings of Auditors and one
All India Cell In charges Meet was held during the year. Training the
auditors has been a continuous process, where keeping in tune with
the new software developments in the Company, all were trained in
During the year 2015-16 promotion exercise, SC/ST/OBC employees,

eligible for promotion to the next cadre, were all given training at our
various Regional Training Centres.
Adequate representation is also being given in the allotment of Staff
Quarters as per reservation guidelines.
On behalf of Nation-wide celebration of 125th Birth Anniversary
of Dr. B.R.Ambedkar, the company has initiated various activities
suggested by the Ministry of Social Justice and Empowerment
CENTRAL SPORTS COMMITTEE

Sports Activities for the year 2015-16
The Central Sports Committee (CSC) has committed itself to promote
sports activities amongst the employees so as to facilitate the
participation of the employees in various sports. Games generate a
feeling of sportsmanship and broaden ones outlook and generates
positive vibes that help him to work in any scenario with people. It
facilitates the soothing of the mind and are natures stress busters.
A sports person is required to make quick decisions depending upon
the situation he is in and this helps him to be in good stead in other
47
Internal Audit
gm$Q>doà H$m {ejU {X`m J`m& BgHo$ Abmdm 24 ZE doe H$VmAm| H$mo
EZ. AmB. E. nwUo | boIm narjm | bJm`m J`m&
hE `h {d^mJ ~YZ Ho$ gmW-gmW H$m` H$aZo | {ddmg H$aVm h Z {H$ EH$
AbJ amVo na MbZo |&
boIm narjm AZwnmbZ :-
{d^mJ {ZamoYmH$ gVH$Vm V Ho$ AJ Ho$ $n | gVH$Vm OmJ$H$Vm ~T>mZo

VWm {Z`mo Ama {d{Z`m| Ho$ AZwnmbZ H$s Amd`H$Vm H$mo {Vnm{XV H$aZo hoVw
J^ra H$X CR>mVm h&
boIm narjm {d^mJ {Z`H$ Ed hm boIm narjH$ boIm narjH$m| VWm

H$nZr Ho$ AmV[aH$ boIm narjH$m| mam CR>m`r J`r boIm narjm AmnpV`m|
H$m g`-g` na AZwnmbZ H$aVm h& jor` H$m`mb` | Zm{V jor`
AZwnmbZ A{YH$mar AmV[aH$ boIm narjm H$j Ho$ gmW ^mdr T>J go `h
gw{ZpMV H$aZo Ho$ {bE gd` H$aVo h {H$ MmbH$ H$m`mb`m| mam boIm
narjm [anmoQ>m} H$s AZwnmbZ [anmoQ> g` na `wV[aV H$s OmVr h {Oggo
boIm narjm AmnpV`m H$m VrdVa AZwnmbZ gw{ZpMV hmo gHo$&
gVH$Vm OmJ$H$Vm :H$nZr Zo 26.10.2015 go 31.10.2015 VH$ 'gVH$Vm OmJ$H$Vm

gmh' H$m Am`moOZ {H$`m& YmZ H$m`mb` | A`j-gh-~Y {ZXoeH$
lr {{bX IamV Zo gV H$Mm[a`m| H$mo enW {Xbm`r& Xoe â Ho$ gmao
H$m`mb`m| | H$m`mb` wIm| Zo H$Mm[a`m| H$mo enW {Xbm`r& Bg df Ho$r`
gVH$Vm Am`moJ mam Xr JB Wr Wr- {ZamoYmH$ gVH$Vm-gwemgZ o
ghm`H$ Ho$ $n |''& H$nZr Zo gVH$Vm OmJ$H$Vm gmh H$m bm^ bmoJm| |
~S>o Va na Bg gXoe H$mo gm[aV H$aHo$ CR>m`m&
jor` H$m`mb`m| H$mo EH$ Z`r ~YZ Umbr jor` boIm narjm AZwnmbZ
g{{V (Ama.E.gr.gr.) Ho$ m` go Xr JB epV`m| Ho$ VhV AnZo
{ZÙmYrZ MmbH$ H$m`mb` Va na CR>mB JB b{~V AmV[aH$ boIm
narjm AmnpV`m| H$s grjm H$aZo VWm {ZVm[aV H$aZo H$m A{YH$ma XmZ
{H$`m J`m h& Bg df h `pVJV dgy{b`m| Ho$ 78 {VeV H$m {ZVmaU
H$aZo | g$b aho&
gmh Ho$ XmamZ WV: {H$E JE `mg :1. H$nZr Ho$ BQ>mZoQ> na A`j-gh-~Y {ZXoeH$ Ho$ ^mfU H$mo gm[aV
{H$`m J`m {Ogo Xoe â Ho$ g^r H$Mm[a`m| mam XoIm Ama gwZm J`m&
jor` wI VWm jor` boIm narjm AZwnmbZ A{YH$m[a`mo Ho$ gmW hmoZo
dmbr {Z`{V dmVmAm| go AZwnmbZmH$ Va na H$m$s gwYma hAm h& b{~V
gr. E. Or. VWm AmV[aH$ boIm narjm AmnpV`m| H$s grjm Ho$ {bE OmoZb
Va H$s ~R>H|$ Am`mo{OV H$s JB& gr. E. Or. Ho$ nXm{YH$m[a`m| Ho$ gmW ^r
OmoZb Va H$s ~R>Ho$ hB& b{~V gr. E. Or. AmnpV`m| H$s grjm Ho$ {bE
gr. E. Or. Ho$ Cn {ZXoeH$ H$s gh^m{JVm Ho$ gmW 16.02.2016 H$mo w~B
| EH$ ~R>H$ H$m Am`moOZ {H$`m J`m& Cn`wV g^r Ho$ $bd$n h 131
gr. E. Or. AmnpV`m| H$mo gwbPmZo | g$b aho&
2. H$nZr mam dmhZm| Ho$ pQ>H$a w{V H$amH$a H$Mm[a`m| Ho$ dmhZm| |
{MnH$mZo Ho$ {bE ~mQ>o JE&
3. gVH$Vm Ho$ gXoem| dmbo ~Za H$B gmdO{ZH$ Wbm| Ogo aobdo QooeZmo,
hdmB ASS>mo B`m{X na bJmE JE&
~Zam| H$m XeZ:hmar H$nZr mam gVH$Vm OmJ$H$Vm gmh 2015 ZmE OmZo Ho$ Cnb`
| gVH$Vm OmJ$H$Vm gmh 2015 Ho$ ~Zam| H$mo qhXr AJoOr VWm WmZr`
^mfmAm| | ~ZdmH$a {d{^Z H$m`mb`m| | bJm`m J`m& Xoe â Ho$ g^r
H$m`mb`mo- YmZ H$m`mb` Ho$ {d^mJm| jor` H$m`mb`m|/S>b H$m`mb`m|/
emIm H$m`mb`m|/ mBH$mo H$m`mb`m| | gVH$Vm nmoQ>a ^r hdnyU OJhm|
na bJmE JE&
{d^mJ mb` mam CR>m`r JB nwZarjU {Q>n{U`m| Ho$ CVa XoZo | ^r gd`
H$m H$m` H$aVm h& Bg df h {~Zm {H$gr b~Z Ho$ 100 {VeV CVa XoZo |
g$b aho& VwV CVam| Ho$ AmYma na 4 w{V namJm$ hQ> gHo$&
{ZXoeH$ S>b H$s boIm narjm g{{V Ho$ {ZX}emZwgma hm ~YH$m| VWm Cn
hm ~YH$m| H$s g{{V H$m JR>Z XV m{YH$mam| g{hV {H$`m J`m h Omo
{ZarjU go Ny>Q>, `pVJV VWm EOogr H$reZ Ho$ mbm| na {dMma H$aoJr&
Mma J{V{d{Y`m :OZ OmJ$H$Vm ~T>mZo Ho$ {bE {Z`mZ gmBZmo, bmo gmBZmo, hmB {dOZ/`yZrnmob
{dkmnZmo, hmo{S>Jm| VWm A` Mma gmJr Ho$ m` go Mma J{V{d{Y`m EH$
~S>o nmZo na MbmB J`r& ^Q>mMma Ho$ Xw^mdm| na AmYm[aV gXoem| dmbo
{dkmnZ {Xr oQmo QooeZ, {Xr ZmoES>m amoS>doO `yZrnmob, w~B Q>mB {dOZ,
MoZ Emoa aobdo Q>oeZ, MoZ goQ>b aobdo Q>oeZ, h~br aobdo Q>oeZ, MoZ
hdmB ASS>o, H$mo`~Vy>a aobdo Q>oeZ, {V$n{V hdmB AS>S>o, Jmodm hdmB AS>S>o
VWm Xoe â Ho$ {hXwVmZ noQmo{b` Ho$ {dH$` Ho$m| na X{eV {H$E JE&
hmo{S>g nyX_{b hmB amoS>, MoZ g~ A~Z aobdo Q>oeZ, MoZ goQ>b aobdo
Q>oeZ, ZogZ {UH$ amoS>, MoZ hdmB AS>S>o na bJmE JE&
gVH$Vm V :gVH$Vm :H$nZr | gVH$Vm {d^mJ ~YZ H$m` Ho$ $n o H$m` H$aVm h {d^mJ XS>mH$
gVH$Vm Ho$ ~Om` {ZamoYmH$ gVH$Vm na A{YH$ ~b XoVm h& Bg {d^mJ H$m
{dVV b` h {H$ gVH$Vm J{V{d{Y`m `mdgm{`H$ {ZU` boZo H$s {H$`m H$mo
Ad$ `m ~m{YV Z H$ao& {dn`V: `h ~YZ H$mo AnZo gJR>ZmH$ b`m|
VWm CXXo`m| H$s m{ | ghm`H$ hmoVr h& CV CXXo`m| Ho$ H$ | H$m` H$aVo
48
The Department has been taking earnest steps in spreading the

awareness of vigilance and underscoring the need for complying with
rules and regulations as part of the preventive vigilance mechanism
Audit Compliance
Vigilance Awareness:
The Audit Compliance Department ensures timely compliance of

queries raised by CAG Auditors and Internal Auditors of the Company.
Regional Compliance Officers identified in each of the ROs coordinate effectively with the Internal Audit Cells to make certain that
the Audit Reports are responded to in time by the Operating Offices
thereby ensuring faster Compliance of Audit queries.
The Company observed Vigilance Awareness Week from 2610-2015 to 31-10-2015. At Head Office, Shri Milind Kharat CMD
administered the pledge which was taken by the employees. In all
Offices across the Country, the Office in charge administered the
pledge to the employees. The theme given by the Central Vigilance
Commission this year was Preventive Vigilance as a tool of good
governance. The Company took this vigilance awareness week as
an opportunity to spread the message among the public at large.
Regional Offices are empowered to review and dispose off pending

internal Audit queries raised up to the level of Operating Offices
below them by way of delegated powers through a new mechanism
Regional Audit Compliance Committee (RACC). This year we were
able to dispose off 78% of the personal recoveries.
the new software developments in the Company, all were trained in

the operating software. In addition 24 new entrants were initiated
into Audit at NIA, Pune.
First time initiatives taken during the week:

1. Speech of CMD was webcast on the Company intranet which
enabled all employees across the Country to see and listen to
his speech on vigilance.
Regular interactions with the Regional Heads and Regional Audit

Compliance Officers have helped in improving compliance levels.
Zonal level Meetings were conducted for reviewing the pending CAG
and Internal Audit queries. Zonal level Meetings were conducted
with CAG Officials also. One Meeting was convened for review
of pending CAG queries at Mumbai on 16.02.2016 involving Dy.
Director of CAG. As a result of all the above, we were able to get 131
CAG queries dropped.
2.
Vehicle stickers were printed by the Company and distributed

among employees for pasting on their vehicles.
3.
Banners with messages of vigilance were displayed in many

public places like Railway stations, airport etc.
Display of Banners
Committees consisting of GMs & DGMs have been constituted with

delegated Authority to consider cases for waiver of Inspection,
Personal and Agency Commission as per the directions of Audit
Committee of the Board.
Publicity Activities
Publicity Activities were also taken up in a big way to promote public
awareness through wide usage of neon signs, glow signs, trivision/
Unipole advertisements, hoardings and other publicity aids. Displays
with different messages on the ill effects of corruption were exhibited
at Delhi Metro Station, Delhi Noida Roadway Unipole, Mumbai
Trivision, Chennai Egmore Railway Station, Chennai Central Railway
Station, Chennai Koyambedu Bus Terminal, Bangalore Railway
Station, Hubli Railway Station, Chennai Airport, Coimbatore Railway
Station, Tirupati Airport, Goa Airport and Hindustan Petroleum Outlets
all over the Country. Hoardings were erected at Poonamalee High
Road, Chennai Sub Urban Railway Station, Chennai Central Station,
Nelson Manickam Road, Chennai Airport.
Vigil Mechanism
Vigilance
Vigilance Department in the Company works as a part of the
Management function. The Department lays more stress on preventive
vigilance rather than on punitive vigilance. The broad objective
is that Vigilance activities should not impair or inhibit commercial
decision-making. On the contrary, it strives to help the management in
achieving its organizational goals and objectives. Working in line with
the above objectives, the Department believes in walking together
with the management and not taking a different path.
49
Vigilance Awareness Week 2015 Banners were displayed at various

offices in English, Hindi and local languages indicating observance of
Vigilance Awareness Week 2015 by our Company. Vigilance Posters
were also displayed in prime locations in all our Offices/Departments
in Head Office//Regional Officers/Divisional Offices/Branch Offices/
Micro Offices all over the Country.
Department also co-ordinates in replying for the vetting remarks

raised by the Ministry. This year we were able to submit 100%
replies without any pendency. Based on the replies submitted 4
Printed paragraphs were dropped.
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gVH$Vm {d^mJ Zo {ZamoYmH$ gVH$Vm, gwemgZ | ghm`H$ Ho$ $n | erfH$
dmbr nwpVH$m ^r H$m{eV H$s&
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dmbo {d{^Z H$m`mb`m| Ho$ AmMH$ {ZarjU H$aVm h& Bg| S>b H$m`mb`,
emIm H$m`mb` Ama mBH$mo H$m`mb` AmEJo& YmZ H$m`mb` H$s VrZ jor`
H$m`mb`m| Eb.gr.~r. VW ~moH$a H$mo>mo Ama VVr` nj h~m| Ho$ {ZarjU
H$aVr h& Eogo {ZarjUm| Ho$ XmamZ w` gVH$Vm A{YH$mar {OZ H$m`mb`m| |
gVH$Vm Ho$ hd VWm {Z`m| Ama {d{Z`m| Ho$ AZwnmbZ H$s O$aV hgyg
H$s OmVr h, dhm Ho$ g^r H$Mm[a`m| H$mo g~mo{YV H$aZo Ho$ Adga H$m Cn`moJ
H$aVm h& df Ho$ ma^ | hr Bg Vah Ho$ {H$E OmZo dmbo AmMH$ {ZarjUm| H$s
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Ho$ XmamZ Eogo Hw$b 394 {ZarjU {H$E JE&
w` gVH$Vm A{YH$mar df Ho$ XmamZ Xmo ~ma N>mhr VWm dm{fH$ Ho$. Ama. E.
~R>H$m| Ho$ XmamZ g^r jor` ^m[a`m| H$mo ^r g~mo{YV H$aVo h& BZ ~R>H$m| |
{MVm Ho$ jom|, {ZarjUm| Ho$ XmamZ nmB JB gmm` MyH|$ Ama Eogo | ^m[a`m|
mam {H$E OmZo dmbo hVjonm| na WZ H$s OmVr h&
YmZ H$m`mb` H$s gVH$Vm Q>r VWm gVH$Vm A{YH$m[a`m| mam {H$E OmZo
dmbo {ZarjUm| Ho$ AmYma na m {ZH$fm} go gaMZmH$ ~R>H$ | A`jgh-~Y {ZXoeH$ H$mo AdJV H$am`m OmVm h& BgHo$ Abmdm H$m` Ho$ jom|
| nmB OmZo dmbr J^ra H${`m| na H$B OmZH$m[a`m C ~YZ H$mo Xr J`r&
gVH$Vm A{YH$m[a`m| Ho$ H$m` H$s {Z`{V {ZJamZr H$s Om ahr h Ama Bg
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Om ahm h& Bgr Vah, YmZ H$m`mb` Va na òH$ jor` H$m`mb`
H$s m{gH$ {ZnmXZ [anmoQ>m} H$s S>oH$ A{YH$m[a`m| mam gKZ grjm H$s
OmVr h& grjm | Ho$. Ama. E. b`m| H$s m{, w` gVH$Vm A{YH$mar
mam {d{Z{XQ> g` grm VWm `pVJV mbm| o H$s OmZo dmbr AZwdVr
H$madmB H$mo JUZm | {b`m OmVm h& w` gVH$Vm A{YH$mar Zo H$nZr
{ZXoeH$ S>b H$s ~R>H$ | ^mJ {b`m VWm grjm Ad{Y Ho$ XmamZ òH$
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w` gVH$Vm A{YH$mar Zo ZB {Xr | 08.04.2015 H$mo g`wV g{Md
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~R>H$ | ^mJ {b`m {Og|-
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{Z`{V {ejU H$m`H$ MbmVm h& BZ H$m`H$m| | YmZ H$m`mb` gVH$Vm
{d^mJ Ho$ A{YH$mar gVH$Vm na g boVo h&
jor` {ejU Ho$mo na ^r hmao gVH$Vm A{YH$mar gm| H$m Am`moOZ
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{dmb`, ~H$bo | Am`mo{OV {ejU H$m`H$ | w` gVH$Vm A{YH$mar
H$mo Zm{V {H$`m&
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29.09.2015 VH$ Am`mo{OV ZoVd dYZ {ejU H$m`H$ | ^mJ {b`m&
VrZ gVH$Vm A{YH$m[a`m| Zo ''ZoeZb B`ya|g AH$mXr'' | 24.08.2015
go 26.08.2015 VH$ Am`mo{OV gVH$Vm na Am`mo{OV {ejU H$m`H$
| ^mJ {b`m&
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AmB. AH$mXr Jm{O`m~mX | Am`mo{OV {ejU hoVw Zm{V {H$`m J`m&
50
undertaken during the period.
As part of the Week, to ensure wider outreach especially for creation

of awareness on corruption and its effects amongst the youth and
college students, Essay Writing and Elocution Competitions were
conducted amongst the Students of Schools and Colleges all over
India with special emphasis on ill effects of Corruption. This
initiative also witnessed active participation by the students and
youth in large numbers.
CVO attended a review meeting called for by Joint Secretary & CVO,
DFS on8.4.2015 at New Delhi where issues with regard to
a) Updation of Operating Manuals b) Complaints handling
c) Rotational transfer Policy were discussed.
CVC Circular dated 30.7.2015 regarding misuse of user id /password
through sharing and not disabling them after exit of the employee
was brought to the notice of the management and all Vigilance
Officers were alerted to check the same during inspections.
Vigilance department had brought out a booklet titled Preventive

vigilance as a tool of Good Governance
Seminars/ Programmes / Competitions:
CVO attended the Annual Sectoral meeting at CVC on 24.9.2015 and

gist of deliberations was shared with CMD and the top management.
Vigilance administration:
As part of preventive vigilance activities, the following are being
undertaken:
CVO attended a meeting called by JS(Vigilance), DFS at Hyderabad

on 29.1.2016
Surprise Inspections:
CVO attended an exclusive meeting of non-life CVOs called for by

CVC on 2nd March 2016. Concerns expressed by CVC on claims
administration, surveyors role etc was shared with CMD.
The Vigilance Officer of each Region undertakes surprise inspections to

different Offices coming under his jurisdiction. This will cover Divisional
Office, Branch Office and Micro Offices. Head Office team undertakes
inspection of Regional Offices, Large Corporate and Brokers Cells and
TP Hubs. During such inspections, the CVO utilizes the opportunity to
address all employees in the Office wherein the importance of vigilance
and the necessity to adhere to rules and regulations is stressed. The
number of Offices where such surprise inspection is to be conducted is
fixed as a Key Result Area (KRA) at the beginning of the year. A total of
394 Inspections were conducted during the year 2016-17.
Training:
Our Corporate Learning Centre at Chennai holds regular training
programmes to different categories of employees. Officers from
HO Vigilance Department handle sessions on vigilance during these
programmes.
Our Vigilance Officers at Regional Offices also handle sessions on
vigilance at the Regional training centers.
The CVO also addresses all the Regional In charges twice in a year
during the Mid-term and Annual KRA Meetings. Areas of concern,
common failings noticed during inspections and the intervention to
be made by the In charges are deliberated during these meetings.
CVO attended training on Advanced Fraud Prevention and Forensic

Investigation in Mumbai in July 2015.
Based on the findings of Inspection conducted by HO Vigilance team

and those conducted by the Vigilance Officers, briefing is given to
CMD in the structured meeting. Apart from this, several advisories
have been given to top management on critical deficiencies in
functional areas.
Chief Manager attended a training programme at National Insurance

Academy, Pune on Leadership Enhancement on 28.9.2015 and
29.9.2015
Three Vigilance Officers attended a training Programme on Vigilance
conducted by National Insurance Academy from 24.8.2015 to
26.8.2015
The work of the Vigilance Officers is being regularly monitored and the
video conferencing facility is being effectively used for this purpose.
Similarly at the Head Office, the monthly performance reports of
each region are extensively reviewed with the Desk Officers. The
review takes into account the position with regard to achievement of
KRAs, timelines specified by CVC and follow up action to be taken on
individual cases. CVO attended the Board Meetings of the Company
and also briefed the Board every quarter on the vigilance activities
Training on CORE was imparted to all the Vigilance Officers in

November 2015 at our Corporate Learning Centre Chennai.
Assistant Manager of HO Vigilance Department attended programme
on Corporate Etiquette.
2 Vigilance Officers were also deputed for training at the CBI
Academy, Ghaziabad from 6.4.2015 to 10.4.2015
51
CVC nominated CVO for a training programme at University of

California, Berkeley from 14.3.2016 to 18.3.2016
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OmVm h& AmV[aH$ YmoImYS>r OmopI ~YZ g{{V H$m H$m`dV OmopI
~YZ g{{V Ho$ gj aIm OmVm h&
C OmopI ~YZ {d^mJ Zo Z`r H$m`mb`r H$m` J{V{d{Y`m| Ho$ g~Y
o YmoImYS>r ~T>mZo dmbo {~Xw Zm ZwAb V`ma {H$`m h Ama YmoImYS>r
{ZÙ Ho$ W Cnm` Hoo$ $n | Bgo MmbZ H$m`mb`mo H$mo CnbY H$am`m
h&
gMoVH$ ({d{gb bmoAa) nm{bgr :H$nZr Zo EH$ gMoVH$ nm{bgr H$m {ZmU {H$`m h& `h nm{bgr {dVr`
A{Z`{VVmAm| `m {ZÙ Ho$ CKZ go g~{YV {H$gr ^r mbo H$mo
òH$ H$Mmar `m H$nZr Ho$ {ZXoeH$m| `m {H$gr A` `pV H$mo CR>mZo
H$m Adga XmZ H$aVr h& Bg nm{bgr | Eogo mbm| | C{MV H$madmB
hoVw YmoImYS>r OmopI ~YZ g{{V Ho$ gwI BZH$s [anmoQ> aIZo H$s
`dWm H$s JB h& gMoVH$ nm{bgr H$mo H$nZr H$s do~gmBQ> na CnbY
H$am`m J`m h&
YZemoYZ {ZdmaU :~rm {d{Z_m_H Aa {dHmg {YHaU mam ~rmH$VmAm| Ho$ {bE YZemoYZ
{ZdmaU/AmVH$dmX Ho$ YZ CnbY na nm~Xr (E.E.Eb./gr.E$.Q>r.)
Ho$ {H$`md`Z g~Yr Omar {Xem {ZX}e &
H$nZr YZemoYZ {ZdmaU A{Y{Z` (nr.E.Eb.E.) 2002 H$m AZwnmbZ
H$a ahr h `m|{H$ Bgo ~rm H$n{Z`m| na ^r bmJy {H$`m J`m h& {ZXoeH$
S>b ~rm {d{Z_m_H Aa {dHmg {YHaU mam g`-g` na Omar
{d{dY gemoYZm| H$mo {Z`{V $n go AnZm ahm h VWm BZH$mo H$S>mB go
AZwnmbZ Ho$ {bE Bho jor` H$m`mb`m| | n[aMm{bV {H$`m Om ahm h&
{Xem {ZX}em| | `Wm C{pIV YZemoYZ Ho$ {bE {dVr` godmAm| Ho$
Cn`moJ H$s wI MwZmVr H$mo XoIVo hE ''AnZm JmhH$ Om{ZE'' (Ho$.dmB.
gr.) mZXS>m| Ho$ CZ Vam| na H$S>mB go AZwnm{bV {H$`m Om ahm h,
Ohm Xmdm mwJVmZ am{e/r{` dmngr, EH$ bmI $nE {V Xmdm/
r{` H$s `yZV grm go A{YH$ hmoVr h& Ohm na ZH$X r{`
` 50000/- go `mXm dmbo Vmd n m {H$E OmVo h, dhm nZ
{ddaU ^r {bE OmVo h& Ho$.dmB.gr. go g~{YV AnojmAm| go nm{bgr
YmaH$m| H$mo AdJV H$amZo Ho$ {bE nm{b{g`m| | ''E.E.Eb. CnIS>'' H$mo
OmoS>m J`m h& H$Mm[a`m|, A{^H$VmAm| B`m{X Ho$ ~rM OmJ$H$Vm nXm
H$aZo Ho$ {bE H$manmoaoQ> {ejU Ho$ MoZ VWm {d{^Z jor` H$m`mb`m|
Ho$ jor` {ejU Ho$mo Ho$ g^r {ejU H$m`H$m| | (E.E.Eb./
gr.E$.Q>r.) {Xem {ZX}em| H$m {ejU XoZm EH$ {Z`{V {deofVm h&
g^r g~{YVm| Ho$ gwb^ gX^m} VWm gdoXrH$aU hoVw H$nZr H$s YZemoYZ
{ZdmaU nm{bgr VWm g~{YV n[anm| H$mo BQ>mZoQ> VWm H$nZr H$s
do~gmBQ> na H$m{eV {H$`m J`m h&
1.6 Xmdm ~YZ:{dVr` df 2015-16 | gyQ> VWm ZmZ gyQ> Xmdm| H$m Xmdm AZwnmV H$e:
35 {VeV VWm 91 {VeV h& VVr` nj h~ Ama g{dg h~ Zo gKZ
Ama d[aV Xmdm {ZVmaU | `moJXmZ {H$`m& dVmZ {VnYmH$ n[adoe
| {deof ~b n[aH$V Ed hS>~S>r wV JmhH$ godm na {X`m J`m&
oJm bmoH$ AXmbV:r{` Am` Ama Xmdm am{e {ZJ XmoZmo hr mbm| | moQ>a VVr` nj
gmYmaU ~rm CmoJ H$m g~go ~S>m nmoQ>$mo{b`mo h& moQ>a VVr` nj Xmdm
~YZ BZ m`Zm| | ^r {d{eQ> h {H$ Xmdo H$moQ> Ho$ A{Y{ZU` Ho$ AmYma
na {ZVm[aV {H$E OmVo h {OZ| {H$ Aga EH$ b~m g` bJVm h
VWm Xmdm {ZVmaU A{YH$mar gmm`V: ~rmboIZ H$m`mb`m| go BVa
Ho$ hmoVo h& moQ>a VVr` nj Xmdm| na C{MV {ZÙ `m ~YZ Ho$ H$
| g^r Xmdm XoI aho H$m`mb`m| Zo CnbY dmV{dH$ VWm CZHo$ mam
go{dV $mBbm| Ho$ AmYma na moQ>a VVr` nj A{^boI {ddaU (E.Q>r.
nr.Ama.Eg.) V`ma {H$`m h& BgHo$ nMmV H$moQ> ImoO A{^`mZ ^r CZ
Xmdm| Ho$ {bE MbmE JE Omo Xmdm n{OH$mAm| | ''~H$m`m'' {XI aho Wo
bo{H$Z {OZH$s ^m{VH$ $n $mBb CnbY Zht h& BgHo$ n[aUmd
$n 14431 Xmdo Omo `. 280 H$amoS> Ho$ Wo, nyd | hr {ZVm[aV nmE
JE bo{H$Z Xmdm n{OH$mAm| | ''~H$m`m'' {XI aho Wo& BZ Xmdm| H$mo H$mQ>
{X`m J`m, {Oggo ~H$m`m Xmdm| H$s Xo`Vm ` 280 H$amoS> KQ> J`r& g^r
Xmdm| Ho$ ''mdYmZ'' H$s ^r grjm H$s J`r Ama dVmZ H$moQ> $PmZm|
Ho$ AZwgma CZ| gemoYZ ^r {H$`m J`m&
1. VVr` nj Xmdm h~ :{dVr` df 2015-16 | VrZ moQ>a VVr` nj h~ {V$nwa,
{dO`dmS>m VWm Abda | Imobo JE& A~ Hw$b 34 VVr` nj
h~ H$màV h {OhmoZo 35 {VeV Ho$ Xmdm {ZVmaU AZwnmV
Ho$ b` Ho$ gmnoj 37 {VeV H$m {ZVmaU b` hm{gb H$aVo
hE 20808 Xmdo {ZVm[aV {H$E& BZ| go 5178 Xmdo gwbh
gPmVo Ho$ AmYma na {ZVm[aV {H$E JE&
52
ENVIRONMENT RELIEF FUND
The Company has formulated a fraud risk management policy. The

policy is available on the website of the company for viewing by
all stakeholders. The company has nominated Nodal Officer who
receives the information relating to fraud and places it before the
internal Fraud Risk Management Committee, wherever it is required,
the matter is taken up with the law enforcement authorities. The
minutes of the internal Fraud Risk Management committee are
placed before Risk Management Committee.
The Company has been appointed as the Fund Manager under Clause
4 of Environment Relief Fund Scheme 2008 as per Notification of
Ministry of Environment and Forests GSR 768(E) dt.4th November 2008,
constituted under Sec.7A of the Public Liability Insurance Act 1991. The
Company has been authorized to receive contribution from all General
Insurance Companies and keep invested the same in Fixed Deposits
as prescribed in the Scheme. During the year 2015-16, an amount of
` 9.16 crores was received towards contribution from General Insurers
and the same has been credited to the Fund. The total amount lying in
Fixed Deposits as on 31.03.2016 is `630.05 crores.
Enterprise Risk Management department has prepared manual

fraud trigger points with respect to few functional activities and
shared the same with the operating offices as a first step towards
controlling frauds.
1.5
Fraud Risk Management:
NEW PRODUCTS
The following products were approved by the Authority and

introduced by the company in the market during the year 2015-16.
a. UNI MSME Protect Insurance Policy
b. UNI Executive Protect Directors and Officers
c . UNI Product Liability Insurance
d. Shopkeepers Insurance Policy
WHISTLE BLOWER POLICY:

The company has formulated a Whistle Blower Policy. The policy
provides an opportunity for every employee or Directors of the
company or any other person to raise any issue relating to financial
irregularities or breaches of control. The policy provides for placing
the reports before the Fraud Risk Management committee for
suitable action. The mechanism provides for adequate safeguards
against victimization of persons who use such mechanism. The
Whistle Blower Policy has been disclosed on the website of the
company.
1.6
Claims Management
The claim settlement ratio for suit and non-suit claims for the year
2015-16 stands at 35% and 91% respectively. The Service Hubs, TP
Hubs and other Operating Offices have contributed for focused and
quick claim settlement. The special emphasis was laid on improved
and hassle free customer service in the present competitive scenario.
ANTI MONEY LAUNDERING

Implementation of Anti-Money Laundering / Counter-Financing of
Terrorism (AML/CFT) Guidelines for Insurers issued by IRDA
Motor third party is the largest portfolio in General Insurance Industry,

both in terms of premium income and claims outgo. Motor TP claims
management is peculiar in the sense claims are settled on the basis
of court awards which usually take long time and also the claims
settling offices are generally other than underwriting offices. In order
to have proper control or management of motor TP claims, all claims
handling offices prepared Motor Third Party record statements
(MTPRS) on the basis of physical files available and serviced by
them. Thereafter, court search operations were conducted for the
claims which were appearing in the outstanding claims registers,
but for which physical file was not available. As a result, 14431
claims amounting to ` 280 crores were identified as already settled
but appearing in outstanding claims registers. These claims were
deleted, resulting into reduction of outstanding claims liability by Rs.
280 crores. Also, provisions of all claims were reviewed and revised
according to the present court trends.
1. TP Claims Hubs During the financial year 2015-16, three
motor third party hubs were opened at Tirupur, Vijayawada
and Alwar. Now, 34 TP Hubs are functional and these hubs
settled 20,808 claims and achieved settlement ratio of
37% as against target of 35%. Of these, 5,178 claims were
settled through conciliatory process.
The Company has been complying with the Prevention of MoneyLaundering Act (PMLA), 2002 since it has been made applicable to
Insurance Companies. The Board has been regularly adopting the
various amendments issued by IRDA from time to time and the same
are circulated to Regional Offices for strict compliance.
Considering the potential threat of the usage of the financial services
for money laundering, as mandated in the Guidelines Know Your
Customer (KYC) norms are adhered to at the settlement stage
where claims pay out / premium refund crosses the threshold of
` One lakh per claim / premium refund. PAN details are collected
where proposals with cash premium exceeding ` 50000/- are
received. AML clause has been incorporated in the policies issued
to inform the policyholders about the requirement relating to
KYC. Training on AML / CFT Guidelines is a regular feature in all
programmes conducted by the Corporate Training Centre at Chennai
and Regional Training Centres at various Regional Offices to create
awareness among employees, agents etc. about the programme .
For the sake of ready reference and to sensitize all concerned,
Companys AML policy and circulars have been posted both in the
Intranet and on Companys website.
53
Mega Lok Adalat :
2.
bmoH$ AXmbV| :- ^maV gaH$ma Ho$ {d{YH$ godm m{YH$aU Zo

B Ama {Xg~a 2015 o amQr` oJm bmoH$ AXmbV H$m
Am`moOZ {H$`m& hmar H$nZr Zo BZ oJm bmoH$ AXmbVm| o
g{H$`Vm go ^mJ {b`m VWm 20254 mbm| H$m {ZVmaU
{H$`m {OZH$s am{e `. 305 H$amoS> Wr, BZ| 5782 mbo
`w Ho$ Wo, 14407 Ym`bm| Ama 65 VVr` nj gnpV hm{Z
Ho$ Wo &
AnZmB J`r&
An g` o ~wbmZo na AmZo dmbo gd}jH$m| H$mo {MphV {H$`m
J`m&
g^r Mmamo gmdO[ZH CnH _mo H$n{Z`m| Zo `wZmBQ>oS> B{S>`m Ho$
ZoVd | {deof H$n bJmE {Oggo gyMZm H$m gma Ama Xmdmo
H$m nOrH$aU gw{ZpMV {H$`m Om gHo$& gmMma nm| VWm l`
gMma gmYZm| Ho$ m` go AJoOr VWm WmZr` ^mfm | `mnH$
Mma gma A{^`mZ Mbm`m J`m&
MoZ ~mT> :Zd~a d {Xg~a 2015 | MoZ VWm V{bZmSw> Ho$ A` WmZm|, gmW
hr nS>mogr am`m| AmYXoe Ama H$ZmQ>H$ | ^mar mm | V~mhr hB Omo
{H$ 100 gmb go ^r A{YH$ g` go Zht XoIr JB Wr&
Xmdm {ZVmaU obm| H$m Am`moOZ {H$`m J`m Omo H$m$s g$b ahm&
~hV gmao bmoJm| Zo H$B `pVJV ZwH $gmZ Pobo, bJ^J 350 bmoJm| H$s
OmZo JB, N>moQ>o Ama ~S>o Ammo{JH$ KamZo, CZH$s gnpV`m nmZr | Sy>~Zo
go ~X hmo JE& H$B hOma H$amoS> H$s hm{Z dmbo H$B hOma Xmdo XO hE&
1.7
31.03.2016 Ho$ AZwgma gy{MV 7480 Xmdm| | go 6736 Xmdm| H$mo 90

{XZmo o hr {ZVm[aV H$a {X`m J`m& eof 744 Xmdo hr ~mH$s aho&
{dXoer MmbZ :-
01.04.2002 go hmJH$mJ | ~rmboIm H$m` ~X H$a {X`m J`m h Ama V~

go `y B{S>`m E`moa|g H$nZr hmJH$mJ | `h H$m` XoI ahr h& 31.03.2016
H$mo gm Ho$ {bE hmJH$mJ A{^H$aU Ho$ A{V MmbZ H$m {ddaU:-
`wZmBQ>oS> B{S>`m H$nZr Zo $bJ H$nZr Ho$ $n | g^r {Ogm H$n{Z`m| Ho$
gmW gd` H$aVo hE Xmdm {ZVmaU H$s J{V H$mo VoO H$aVo hE pW{V
gmm` H$aZo hoVw {ZZmZwgma H$B H$X CR>mE: erK Xmdm {ZVmaU hoVw Q>mH$ $mog H$m JR>Z {H$`m J`m h&
QmH mog o 132 A{YH$mar Ama H$Mmar h&
Xmdm gyMZm m H$aZo Ho$ {bE ZmoS>b A{YH$mar Ama ~ZmE JE&
Xmdm| Ho$ erK {ZVmaU Ho$ {bE gab Ama JmhH$mon`moJr {H$`m
31.03.2016 H$mo gmV hwE df Ho$ {bE hmJH mJ A{^H aU Ho$ A{V_ MmbZ H m {ddaU
(` H$amoS> |)
Hw$b
{ddaU
Mmby df
JV df
CnJV Xmdo
0.1463
0.0992
~YZ ``
0.2910
0.2753
-0.4373
-0.3745
0.1659
0.2363
-0.2714
-0.1382
ex r{`
A` Am` Ama ``
~rmboIZ bm^/hm{Z
{Zdoe Am`
ex bm^/hm{Z
31.03.2016 H$mo {dXoer wm CnmOZ VWm bmJV H$m {ddaU

{dXoer wm CnmOZ
606.21 H$amoS>
{dXoer wm bmJV
312.08 H$amoS>
54
As on 31.03.2016, out of 7480 claims intimated, 6736 claims have been

settled within a span of 90 days leaving an outstanding of only 744 claims.
1.7
Chennai Floods
Foreign Operations
Audio Media both in English and Vernacular.

Claim settlement melas were organized which was very
successful.
2. Lok Adalats Legal Services Authority of India organized

National Mega Lok Adalat in the month of May and
December 2015. Our company actively participated
in these Mega Lok Adalats and settled 20,254 cases
amounting to 305 crores comprising of 5,782 cases
relating to death, 14,407 relating to injuries and 65
relating to Third Party property damage.
Underwriting operations at Hong Kong ceased with effect from

01.04.2002 and New India Assurance Company Limited, Hong Kong
looks after the Run-off portfolio since then. As on 31.03.2016, 3
claims were still outstanding.
During the months of November and December 2015 Chennai and

several other places in Tamil Nadu as well as the neighbouring States
of Andhra Pradesh and Karnataka were devastated in enormous
proportions, the like of which was not seen in more than 100 years.
Statement of run-off operations in Hong Kong Agency for the year

ended 31.03.2016
Many people lost several personal effects, about 350 persons, their
lives and small as well as large Industrial Houses, their property
under water, could not function. There have been several thousands
of claims lodged and losses to the tune of several hundred crores
of rupees.
United India, as a Flag company Coordinated with all GIPSA
Companies and took several steps to restore normalcy by speeding
up claims settlement as under:
Task Force had been formed for quick disposal of claims.
132 number of officers and staff formed the Task force.
Nodal Offices were formed for accepting claim intimations
Simple and Customer friendly initiatives were adopted to
settle claims expeditiously
Surveyors were identified to be on call at very short notice
All four PSU Companies led by UIIC set up Special Camps
to ensure spread of information and registration of
claims. Wide publicity was given through the Print and
(` In Crores)
Current Year
Previous Year
Incurred claims
0.1463
0.0992
Expenses of Management
0.2910
0.2753
-0.4373
-0.3745
0.1659
0.2363
-0.2714
-0.1382
Net Premium
Other Income & Outgo

Underwriting Profit / Loss
Investment Income
Net Profit / Loss
Details of foreign exchange earnings and outgo for the year ended 31.03.2016:
Foreign Exchange earnings
606.21Crores
Foreign Exchange outgo
312.08 Crores
55
Total
Details
1.8 C OmopI ~YZ :{ZXoeH$ S>b H$s OmopI ~YZ g{{V (.Ama.E.gr.) H$nZr H$s
OmopI ~YZ n{V`m| H$s grjm H$aVr h& H$nZr Ho$ OmopI ~YZ
T>mMo H$m S>mQ> V`ma H$a {b`m J`m h VWm g{{V mam OmopI myI,
C OmopI ~YZ (.B.Ama.E.) T>mMo H$s grjm H$aZo Ho$ ~mX
{H$`md`Z H$s {H$`m | h& `h {d^mJ gnpV Xo`Vm ~YZ VZmd
narjU | ghm`Vm H$aVm h Omo {H$ {dVr` pW{V [anmoQ> VWm Am{WH$
nyOh AmH$bZ H$m {hgm h& H$nZr Ho$ g^r H$m`m] Ho$ OmopI a{OQ>a
~Zm {bE JE h Ama J^raVm Ho$ AmdpV VWm {ZÙ Vm| Ho$ AmYma
na ~S>o OmopIm| H$mo {MphV H$a {b`m J`m h& erf OmopIm| H$mo Cn`wV
{ZdmaH$ `moOZmAm| Ho$ gmW gmYm{ZV {H$`m J`m ho& {d^mJm| Ho$ ZwAbm|
H$s Amd{YH$ grjm H$s OmVr h VWm {MphV OmopIm| H$mo `yZrH$V
H$aZo Ho$ O~yV AmV[aH$ Cnm`m| H$mo em{b H$aVo hE BZH$mo AVZ ^r
{H$`m Om ahm h& CmoJ OmopI ~YZ {d^mJ Bg {H$`m | gd`
H$aVm h VWm Bg g~Y | Amd`H$ gwPmmd XoVm h& C OmopI ~YZ
H$s ~YZ g{{V J{V{d{Y`m| H$s grjm H$aVr h VWm BZHo$ AmH$bZ
{ZJamZr VWm {ZXoe S>b H$s Ama.E.gr. H$mo {d{^Z OmopIm| H$mo [anmoQ>
H$aZo | ~hy` gh`moJ XmZ H$aVr h& B.Ama.E. na ~YZ g{{V
VWm OmopI ~YZ g{{V Ho$ H$m`dVm| H$mo {Z`{V AmYma na {ZXoeH$
S>b H$mo VwV {H$`m OmVm h& OmopI ~YZ Cg gH${V na AmYm[aV
h Omo {H$ hmao gJR>Z H$m H$boda h& OmopI OmJ$H$Vm gH${V H$mo
gm[aV H$aZo Ho$ H$ | B.Ama.E. {d^mJ H$nZr mam Am`mo{OV {d{^Z
{ejU gm|,gJmo{`m , VWm g_obZmo | ^mJ boVm h Ama H$m`mb`m|
H$mo OmopI AmYm[aV {ZU` jVm {dH${gV H$aZo Ho$ {bE B.Ama.E. H$s
$naoIm na `m`mZ XoVm h&
H$nZr mam {MphV {d{^Z OmopI g{j $n | {ZZmZwgma h:1.
~rm boIZ OmopI :OmopIm| Ho$ {ZarjU mam Hw$N> {ZpMV {ZUm`H$ OmopI go
g~{YV Ho$rH$V H$m` Umbr mam OmopIm| H$m {dnarV
MwZmd `m AZwn`wV y` {ZYmaU H$mo Cne{V {H$`m Om
gH$Vm h&
2.
{Zdoe OmopI :
Ho${S>Q> OmopI H$mo BQyoQ> | {Zdoe H$s n{V`m| Ho$ AZwgma
{Zdoe H$aHo$ VWm E E E/E E aoQ>oS> {Vmy{V`m| | {Zdoe
H$aHo$ gmYm{ZV {H$`m OmVm h& AmZH$ aoqQ>Jmo Hoo$ mbo
| g` go H$madmB H$aZo hoVw {ZnmXZ VWm aoqQ>J H$s AmJo
^r {ZJamZr H$s OmVr h&

3.
4.
5.
56
~mOma OmopI H$mo {Zdoem| H$mo C d{ CwI H$n{Z`m| go

g~{YV BQyoQ> VH$ hr | {Zdo{eV H$aHo$ {Z`{V {H$`m
OmVm h&
g`-g` na gwYmamH$ H$m`dmhr Ho$ gmW {Zdoem| H$mo
A` {Zdo{eV H$aHo$ BZH$s g`-g` na {ZJamZr H$s
OmVr h&
gabVm OmopI {Zdoem| H$mo gr.~r.Eb.S>r. | aIVo hE
{Z`{V {H$`m OmVm h&
Ama{jV OmopI:- Agm OmopImo Ho$ {bE [aOd H$mo
hmW | CnbY XVmdoOm| Ho$ AmYma na {H$`m Om gH$Vm
h& g`-g` na BZH$s grjm `h gw{ZpMV H$aZo Ho$
{bE H$s OmVr h {H$ Xmdo nOrH$V {H$E JE h Ama BZHo$
{bE nwVH$m| | [aOd H$m mdYmZ {H$`m J`m h& CnJV
{H$Vw Agy{MV Xmdm| H$mo ~rmH$Z AmYma na JUZm {H$E JE
AmB.~r.EZ.Ama. Ho$ gmW gmYm{ZV {H$`m OmVm h&
mZd ggmYZ:- AmZo dmbo g` | hmoZo dmbr godm
{ZdpV`m| H$mo AmH${bV H$aHo$ H$nZr Zo H$Mm[a`m| VWm
{deofkm| g{hV A{YH$m[a`m| H$s ^Vr H$s h& {ejU
mS`ybm| VWm Um{b`m| H$mo ^r AVZ {H$`m OmVm h Vm{H$
Z Ho$db CnmXm|, {H$`mAm| H$m `mnH$ {ejU {X`m OmE
daZ AVa `pVJV VWm JmhH$mowIr H$meb H$m ^r
gmdoe {H$`m Om gHo$&
gyMZm mmo{JH$s OmopI:- H$nZr Zo JmhH$m| VH$ nhM
~ZmZo Ho$ {bE gyMZm mmo{JH$s H$mo {dH${gV {H$`m h Ama
dh AVa{Z{hV OmopIm| Ho$ ~mao | OmJ$H$ h& H$nZr Zo
A{Ve` n[apW{V`m| | ^r H$mamo~ma Omar aIZm gw{ZpMV
H$aZo Ho$ {bE {S>OmQ>a [aH$dar gmBQ>| Wm{nV H$s h&
AmH$S>m| H$s AIS>Vm d gwajm H$mo gw{ZpMV H$aZo Ho$ {bE
BQ>aZoQ> nhM go amoH$Zo VWm ~mmhar CnH$aUm| go amoH$Zo
g~Yr $màdmg H$m ^r `moJ {H$`m h&
H$nZr CZ g^r gdoXZerb pW{V`m| Ho$ gmYmZ hoVw
{V~ h {OZH$m H$nZr Ho$ C OmopI ~YZ T>mMo
| gmYmZ {H$`m OmZm Ano{jV hmoVm h& OmopI ~YZ
EH$ bJmVma MbZo dmbr {H$`m h {OgHo$ {bE H$nZr mam
{ZaVa y`mH$Z H$aVo hE Cn`wV emH$ Cnm` {H$E OmEJ
Risk Management Committee (RMC) of the Board reviews the Risk

Management practices of the Company. The Risk Management
framework of the Company has been drafted and is under
implementation with a mandate to the Committee to review the
Risk Appetite, Enterprise Risk Management (ERM) framework etc.
The department assists in the Asset Liability Management, Stress
Testing which forms part of the Financial Condition Report and
economic capital estimation. The Risk Registers for all the functions
of the company have been developed and major risks identified on
the basis of severity, frequency and control mechanisms. The top
risks are addressed with suitable mitigation plans. The manuals
of the departments have been periodically reviewed and updated
incorporating stronger internal control measures to mitigate the
risks identified. The Enterprise Risk Management department coordinates the process and provides necessary inputs in this regard.
The Management Committee on Enterprise Risk Management
reviews the activities and provides valuable support in assessing,
monitoring and reporting of various risks to the RMC of the Board.
The minutes of the Management Committee on ERM and Risk
Management Committee are reported to Board on a regular basis.
Risk Management is dependent on the culture that is evolved through
the corporate fabric. In order to imbibe a risk aware culture, the
ERM department takes part in various training sessions, seminars
and conferences organized by the company and addresses the
executives on the contours of ERM to develop them for risk based
decision making.
The various risks identified by the company are summarized below:
1)
Underwriting Risk: Adverse selection of risk or improper
pricing is mitigated by inspection of the risk, centralized
mechanism in respect of certain crucial risks.
2)
Investment Risk:
Credit risk is addressed by investing in instruments

according to the pattern of investments and making
investments in AAA/AA rated securities. The performance
Market risk is taken care of by limiting investments in

instruments relating to highly growth oriented companies/
sectors. The investments are monitored periodically with
timely corrective action by way of switching the
investments.
Liquidity risk is addressed by maintaining the investments

in CBLO, Reverse Repo or liquid schemes of mutual funds.
3)
Reserving risk: The reserve for unexpired risks can be

made on the basis of documents available on hand.
Periodical reviews are conducted to ensure that the
claims are registered and appropriate reserves created in
the books. Claims incurred but not reported are addressed
with IBNR reserves worked out actuarially.
4)
Human Resources: The retirements that may happen in

the years to come are assessed and accordingly the
company has taken up recruitment of staff as well as
officers including specialists. The training module and
methods are also updated to provide a comprehensive
training not only in products, procedures but also in
inculcating inter-personal and customer-oriented skills.
5)
Information Technology risk: The Company has

leveraged Information Technology to reach out to
customers and is aware about the inherent risks. The
company has established disaster recovery sites to
ensure business continuity in extreme circumstances.
Firewalls, curbing with respect to Internet access, outside
devices are in place to ensure data integrity and safety.
The company is committed to address all vulnerabilities
which are addressed in the companys Enterprise Risk
Management framework. Risk Management is continuous
process which the company would constantly evaluate
and take mitigation steps appropriately.
57
and rating is further tracked to take timely action in case

of rating downgrades.
1.8 Enterprise Risk Management
2. ~YZ {dMma {de Ed {dbofU

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YmZr dm` ~rm `moOZm, {Ogo nyao Xoe | g$bVmnydH$ {H$`mpdV
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~rm jo | d{ Ho$ gMmbH$ hm|J|&
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13.38% H$s ~mOma ^mJrXmar Ho$ gmW df Ho$ XmamZ ` 12250 H$amoS>
r{` amOd m H$aVo hE 14.58 {VeV H$s Xa go {dH$mg {H$`m&
H$nZr Zo ` 221 H$amoS> H$m H$a nMmV bm^ XO {H$`m h& 31.03.2016
Ho$ AZwgma {Zdoe| H$m ~mOma y` ` 24021 H$amoS> VWm ZoQ>dH$ (ew
y`) ` 5731 H$amoS> h&
{d{Z`mH$ VWm H$n{Z`m| Zo Xoe | gmYmaU ~rm H$mo gwajm Ho$ $n | boZo
g~Yr OmJ$H$Vm Ho$ {ZmU Ho$ {bE {d{^Z Cnm` ^r {H$E h& {d{Z`mH$
Zo H$B ZE {d{Z`m| H$m dVZ {H$`m h VWm dVmZ {d{Z`m| | gemoYZ
^r {H$`m h& {d{Z`mH$ Zo CnmX $mBqbJ H$s ZB Umbr H$m ^r dVZ
{H$`m h {Oggo ~rm H$n{Z`m `yO ES> $mBqbJ mogrOg Ho$ VhV
A{^Zd JmhH$mon`moJr CnmXm| H$mo VwV H$aZo | gj hmo gH$Vr ho&
bJ^J nyao gmb hJmB Xa | H$r VWm gaH$ma mam AmYmamyV gaMZm
H$mo mogmhZ XoZo Ho$ H$maU ~rm CmoJ H$m {dH$mg hmoJm VWm `h gd}
2.2 MmbZ {ZnmXZ

IS> {ZnmXZ
(`.H$amoS> |)
dJdma {ZnmXZ gma
df
gH$b `j r{`
d{ H$m {VeV
^maV |
A{
2015-16
2014-15
^maV Ho$ ~mha 2015-16
2014-15
Hw$b
2015-16
2014-15
58
arZ
{d{dY
Hw$b
1311.39
438.28
10500.70
12250.36
4.79%
-16.79%
17.81%
14.58%
1251.49
526.73
8913.51
10691.73
5.19%
-10.31%
12.38%
10.12%
0.00
0.00
0.00
0.00
0.00%
0.00%
0.00%
0.00%
0.00
0.00
0.00
0.00
0.00%
0.00%
0.00%
0.00%
1311.39
438.28
10500.70
12250.36
4.79%
-16.79%
17.81%
14.58%
1251.49
526.73
8913.51
10691.73
5.19%
-10.31%
12.38%
10.12%
2.1 ECONOMIC CONDITIONS, INSURANCE MARKET,

VIS--VIS PERFORMANCE OF UNITED INDIA:
be able to introduce innovative customer-friendly products

under the Use and File Procedures. With subdued inflation
during most part of the year and impetus to infrastructure
by the Government, the Insurance Industry will grow and
surpass the survey estimates. Motor, Health and other retail
products will push the growth in premium.
The Non-Life Insurance Industry recorded a growth rate of

13.8% in the year 2015-16. Insurance penetration and
density has been at a very low level in the country. Efforts
are made to reach out to the Tier IV and Tier V towns. One
important measure to improve penetration of General
Insurance is the Central Governments Pradhan Mantri
Swasthya Bima Yojana, which was successfully
implemented across the country. The Government of India
initiative on Make in India and Start up India would
drive the growth in the Insurance Sector. The Regulator as
well as the companies have also taken up various measures
to create awareness about General Insurance as a
protection in the country. The Regulator has introduced
various new regulations and also amended existing
regulations. The Regulator has also introduced a new
product filing procedures where insurance companies may
2. MANAGEMENT DISCUSSION AND ANALYSIS
With introduction of new distribution channels like

Insurance Marketing Firms, Common Service Centres and
Point of Sale persons, the insurance penetration would also
improve as more standardized simple products would be
made available through these channels.
The company grew at the rate of 14.58% during the year
completing a premium revenue of `12,250 Crores with a
market share of 13.38% out of the total premium of
` 91,572 crores accounted by the General Insurance
Industry. The company registered a PAT of ` 221 Crores.
The market value of investments stood at ` 24021 crores
and the Net Worth as on 31.3.2016 was ` 5731 crores.
2.2 OPERATING PERFORMANCE

Segmental Performance
(` In Crores)
CLASS-WISE PERFORMANCE SUMMARY
In India
Fire
2015-16
Percentage Growth
2014-15
Outside India 2015-16
2014-15
Total
2015-16
2014-15
59
Marine
Misc.
Total
1311.39
438.28
10500.70
12250.36
4.79%
-16.79%
17.81%
14.58%
1251.49
526.73
8913.51
10691.73
5.19%
-10.31%
12.38%
10.12%
0.00
0.00
0.00
0.00
0.00%
0.00%
0.00%
0.00%
0.00
0.00
0.00
0.00
0.00%
0.00%
0.00%
0.00%
1311.39
438.28
10500.70
12250.36
4.79%
-16.79%
17.81%
14.58%
1251.49
526.73
8913.51
10691.73
5.19%
-10.31%
12.38%
10.12%
Year
Gross Direct Premium in India
drH$V nwZ~um r{`
2015-16
117.32
14.75
112.88
244.95
2014-15
89.89
19.76
133.45
243.10
^maV Ho$ ~mha 2015-16
12.15
0.57
8.27
20.99
2014-15
14.26
0.94
6.14
21.34
2015-16
129.47
15.32
121.16
265.95
2014-15
104.15
20.70
139.59
264.45
2015-16
297.23
25.26
835.24
1157.73
2014-15
337.70
-56.78
986.65
1267.57
^maV Ho$ ~mha 2015-16
320.01
157.78
166.24
644.03
2014-15
258.10
307.81
-203.33
362.59
2015-16
617.23
183.04
1001.48
1801.75
2014-15
595.81
251.04
783.32
1630.16
2015-16
1131.48
427.77
9778.34
11337.59
12.73%
-29.09%
21.31%
17.28%
86.28%
97.60%
93.12%
92.55%
1003.68
603.27
8060.31
9667.27
-0.52%
2.49%
9.27%
7.72%
80.20%
114.53%
90.43%
90.42%
-307.86
-157.21
-157.97
-623.03
26.25%
-48.77%
-175.41%
82.58%
0.00%
0.00%
0.00%
0.00%
-243.85
-306.87
209.47
-341.25
45.21%
10.60%
-188.17%
-50.03%
0.00%
0.00%
0.00%
0.00%
823.62
270.56
9620.38
10714.56
8.39%
-8.72%
16.33%
14.89%
62.81%
61.73%
91.62%
87.46%
759.84
296.40
8269.78
9326.02
-9.65%
-4.75%
15.84%
12.48%
60.71%
56.27%
92.78%
87.23%
^maV |
Hw$b
A{nV nwZ~um r{`
^maV |
Hw$b
ew r{`
JV df H$s VwbZm | {VeV H$s d{
gH$b r{` H$m {VeV
^maV |
2014-15
ew r{`
gH$b r{` H$m {VeV
^maV Ho$ ~mha 2015-16
2014-15
ew r{`
gH$b r{` H$m {VeV
Hw$b
2015-16
2014-15
60
2015-16
117.32
14.75
112.88
244.95
2014-15
89.89
19.76
133.45
243.10
12.15
0.57
8.27
20.99
2014-15
14.26
0.94
6.14
21.34
2015-16
129.47
15.32
121.16
265.95
2014-15
104.15
20.70
139.59
264.45
2015-16
297.23
25.26
835.24
1157.73
2014-15
337.70
-56.78
986.65
1267.57
320.01
157.78
166.24
644.03
2014-15
258.10
307.81
-203.33
362.59
Total
Reinsurance Premium Ceded
In India
Total
2015-16
617.23
183.04
1001.48
1801.75
2014-15
595.81
251.04
783.32
1630.16
2015-16
1131.48
427.77
9778.34
11337.59
Percentage Increase over previous year
12.73%
-29.09%
21.31%
17.28%
Percentage to Gross Premium
86.28%
97.60%
93.12%
92.55%
1003.68
603.27
8060.31
9667.27
-0.52%
2.49%
9.27%
7.72%
80.20%
114.53%
90.43%
90.42%
-307.86
-157.21
-157.97
-623.03
26.25%
-48.77%
-175.41%
82.58%
0.00%
0.00%
0.00%
0.00%
-243.85
-306.87
209.47
-341.25
45.21%
10.60%
-188.17%
-50.03%
0.00%
0.00%
0.00%
0.00%
823.62
270.56
9620.38
10714.56
8.39%
-8.72%
16.33%
14.89%
62.81%
61.73%
91.62%
87.46%
759.84
296.40
8269.78
9326.02
-9.65%
-4.75%
15.84%
12.48%
60.71%
56.27%
92.78%
87.23%
Net Premium
In India
2014-15
Net Premium

2014-15
Net Premium
Total
2015-16

2014-15
61
In India
Reinsurance Premium Accepted
Agm OmopI Ama{j{V | d{

ew r{` H$m {VeV
2015-16
32.94
-18.20
676.96
691.69
4.00%
-6.73%
7.04%
6.46%
-46.56
-8.14
564.50
509.79
-6.13%
-2.75%
6.83%
5.47%
2015-16
790.68
288.77
8943.42
10022.87
2014-15
806.40
304.54
7705.29
8816.23
2015-16
587.54
206.56
8006.99
8801.09
71.34%
76.34%
83.23%
82.14%
606.51
258.65
6577.86
7443.03
79.82%
87.27%
79.54%
79.81%
68.05
22.70
422.61
513.35
8.26%
8.39%
4.39%
4.79%
57.73
29.15
444.42
531.29
7.60%
9.84%
5.37%
5.70%
336.33
80.41
2507.32
2924.07
40.84%
29.72%
26.06%
27.29%
329.47
100.10
2219.00
2648.57
43.36%
33.77%
26.83%
28.40%
-201.24
-20.90
-1993.51
-2215.64
-24.43%
-7.72%
-20.72%
-20.68%
-187.31
-83.36
-1535.99
-1806.66
-24.65%
-28.12%
-18.57%
-19.37%
204.40
68.14
1481.12
1753.65
24.82%
25.18%
15.40%
16.37%
180.23
59.18
1270.06
1509.47
23.72%
19.97%
15.36%
16.19%
-0.43
-0.19
-2.60
-3.22
-0.05%
-0.07%
-0.03%
-0.03%
2014-15
ew A{OV r{`
ew CnJV Xmdo
ew r{` H$m {VeV
2014-15
ew H$reZ
ew r{` H$m {VeV
2015-16
2014-15
~rm H$mamo~ma go g~pYV MmbZ IM

{Og| {dXoer H$a d {d{Z`, bm^/ hm{Z ^r
gp{bV h
ew r{` H$m {VeV
2015-16
2014-15
~rmboIZ n[aUm
ew r{` H$m {VeV
2015-16
2014-15
{Zdoe H$s {~H$s go bm^ g{hV {Zdoe Am` H$m

{d{Z`Z (Ja {ZnmXZ n[agn{m`m| Ho$ {bE
ew mdYmZ)
ew r{` H$m {VeV
2015-16
2014-15
A` Am`/ ``
ew r{` H$m {VeV
2015-16
62
32.94
-18.20
676.96
691.69
4.00%
-6.73%
7.04%
6.46%
-46.56
-8.14
564.50
509.79
-6.13%
-2.75%
6.83%
5.47%
2015-16
790.68
288.77
8943.42
10022.87
2014-15
806.40
304.54
7705.29
8816.23
2015-16
587.54
206.56
8006.99
8801.09
71.34%
76.34%
83.23%
82.14%
606.51
258.65
6577.86
7443.03
79.82%
87.27%
79.54%
79.81%
68.05
22.70
422.61
513.35
8.26%
8.39%
4.39%
4.79%
57.73
29.15
444.42
531.29
7.60%
9.84%
5.37%
5.70%
336.33
80.41
2507.32
2924.07
40.84%
29.72%
26.06%
27.29%
329.47
100.10
2219.00
2648.57
43.36%
33.77%
26.83%
28.40%
-201.24
-20.90
-1993.51
-2215.64
-24.43%
-7.72%
-20.72%
-20.68%
-187.31
-83.36
-1535.99
-1806.66
-24.65%
-28.12%
-18.57%
-19.37%
204.40
68.14
1481.12
1753.65
24.82%
25.18%
15.40%
16.37%
180.23
59.18
1270.06
1509.47
23.72%
19.97%
15.36%
16.19%
-0.43
-0.19
-2.60
-3.22
-0.05%
-0.07%
-0.03%
-0.03%
Percentage to Net Premium

2014-15
Net Premium Earned
Net Incurred Claims

2014-15
Net Commission
2015-16

2014-15
Operating Expenses Related to Insurance

business including Foreign Taxes &
Exchange Gain / Loss
2015-16

2014-15
Underwriting Results
2015-16

2014-15
Investment Income Apportioned, including

Profit on realisation of Investments (Net of
Provision for Non Performing Assets)
2015-16

2014-15
Other Income / Outgo
2015-16
63
2015-16
Increase in Unexpired Risk Reserves
-0.12%
-0.13%
2.73
47.05
-514.99
-465.21
0.33%
17.39%
-5.35%
-4.34%
-8.43
-24.71
-276.03
-309.17
-1.11%
-8.34%
-3.34%
-3.32%
0
2014-15
2015-16
2013-14
Marine
1311
7932
7544
2012-13
Fire
8914
10501
2011-12
Gross
438
2000
2013-14
-0.18%
1251
527
4000
2012-13
-0.18%
1190
587
6000
Net
-11.98
1121
602
11000
10000
9000
8000
7000
6000
5000
4000
3000
2000
1000
0
9326
8291
9709
7489
6780
8179
9266
12000
2011-12
-10.10
6639
10692
13000
8000
-0.52
972
568
2014-15
10000
-1.35
2015-16
nm{bgrYmaH$m| Ho$ ImVo | MmbZ n[aUm

ew r{` H$m {VeV
10715
12250
2014-15
2014-15
2015-16
Misc.
^maV _o gH b `j {{_` ( H$amoS> ||)
GROSS DIRECT PREMIUM IN INDIA (`ÌN CRORES)
{{_`_ [dbofU d{dH ( H$amoS> |)
PREMIUM ANALYSIS - GLOBAL`(` IN CRORES)
gmame
(`.H$amoS> |)
2015-16
{ddaU
2014-15
-465.21
-309.17
691.30
619.44
29.80
8.97
255.88
319.24
H$a Ho$ {bE mdYmZ
35.08
18.14
OmoS>| -H$a gOZ
0.21
0.53
H$a nmV ew bm^
220.59
300.57
KQ>m`|- gmm` Ama{j{V {Z{Y H$mo /go AV[aV am{e
139.98
227.39
0.00
0.00
bm^me hoVw Vm{dV eof
67.00
61.00
{ZJr` bm^me H$a
13.62
12.17
nm{bgrYmaH$m| Ho$ ImVo | MmbZ n[aUm

{Zdoe H$s {~H$s go bm^ g{hV {Zdoe Am` H$m {d{Z`Z (Ja {ZnmXZ
n[agn{m`m| Ho$ {bE ew mdYmZ)- eoà YmaH$m| H$m ImVm
A` Am` Ed ``
H$a nyd bm^
AmH$pH$ Ama{j{V H$mo AV[aV am{e
64
-0.13%
2.73
47.05
-514.99
-465.21
0.33%
17.39%
-5.35%
-4.34%
-8.43
-24.71
-276.03
-309.17
-1.11%
-8.34%
-3.34%
-3.32%
0
2014-15
Net
2015-16
PREMIUM ANALYSIS - GLOBAL (` IN CRORES)
7932
2012-13
2013-14
Fire
8914
10501
2011-12
Gross
Marine
1311
2000
438
4000
-0.12%
1251
527
6000
2013-14
-0.18%
1190
587
11000
10000
9000
8000
7000
6000
5000
4000
3000
2000
1000
0
9326
8291
9709
2014-15
2015-16
Misc.
GROSS DIRECT PREMIUM IN INDIA (` IN CRORES)
Summary
(` in crores)
Details
2015-16
Operating Results in Policy Holders Account
2014-15
-465.21
-309.17
691.30
619.44
29.80
8.97
Profit Before Tax
255.88
319.24
Provision for Tax
35.08
18.14
0.21
0.53
Net Profit after Tax
220.59
300.57
Less: Amount transferred to/from General Reserve
139.98
227.39
0.00
0.00
Balance proposed for Dividend
67.00
61.00
Corporate Dividend Tax
13.62
12.17
Investment Income Apportioned, including Profit on realisation of

Investments (Net of Provision for Non Performing Assets) Shareholders
Account
Other Income & Outgo
Add: Tax Adjustments
Amount Transferred to Contingency Reserve
65
7489
6780
8179
9266
12000
2012-13
-0.18%
6639
10692
13000
2011-12
-11.98
972
568
10715
12250
2014-15
8000
-10.10
2015-16
10000
-0.52
7544
Operating Results in Policy Holders'

Account
-1.35
1121
602
2014-15
nyOr Ed {Z{Y`m
(` H$amoS> |)
Ho$ AZwgma 31-03-2016
{ddaU
Ho$ AZwgma 31-03-2015
150.00
150.00
1.36
1.36
5565.03
5425.05
AmH$pH$ Ama{j{V
0.00
0.00
{Zdoe Ama{j{V
0.86
0.86
13.95
11.76
5731.20
5589.03
MwH$Vm nyOr
nyOr Ama{j{V
gmm` Ama{j{V
{dXoer wm gofU Ama{j{V
28008
25674
23325
20774
28727
Hw$b
1623
1800
1566
1457
1308
5731
ASSETS
& FUNDS AND TOTAL ASSETS ( A in Crores)

nyCAPITAL
Or d [Z[Y
VWm Hwb n[agn{m`m (` H$amoS> |)
Ha HoPROFIT
nyd bm^
Ha Ho ~mX bm^
ANALYSIS ( A in Crores)
bm^ [dbofU (` H$amoS> |)
PROFIT BEFORE TAX
66
PROFIT AFTER TAX
256
319
301
633
528
618
387
469
527
INTEREST,
RENT
in Crores)
S> |)
`mO
bm^mDIVIDEND
e Ama AND
[Ham`m
(`( AH$amo
221
CAPITAL & FUNDS
5589
5361
4953
4547
1040
(` in crores)
Details
As on 31-03-2016
As on 31-03-2015
Paid-up Capital
150.00
150.00
Capital Reserve
1.36
1.36
General Reserve
5565.03
5425.05
Contingency Reserve
0.00
0.00
Investment Reserve
0.86
0.86
13.95
11.76
5731.20
5589.03
Foreign Currency Translation Reserve
28008
25674
23325
20774
28727
Total
CAPITAL & FUNDS
1623
1800
1566
1457
1308
CAPITAL & FUNDS
5731
5589
5361
4953
4547
1040
ASSETS
CAPITAL & FUNDS AND TOTAL ASSETS ( A in Crores)
67
256
PROFIT AFTER TAX
PROFIT ANALYSIS ( A in Crores)
221
319
PROFIT BEFORE TAX
301
633
528
618
387
469
527
INTEREST, DIVIDEND AND RENT ( A in Crores)
(` H$amoS> |)
{ZnmXZ grjm
2015-16
2014-15
gH$b `j r{`
H$nZr Zo JV df Ho$ 10.12% H$s VwbZm | Bg df 14.58%r{` hm{gb {H$`m &
12250.36
14.58%
10691.73
10.12%
ew r{`
JV df H$s VwbZm | {VeV H$m n{adVZ
df 2015-16| H$nZr H$m ew r{` `1388.54 H$amoS> go ~T>H$a `10714.56 H$amoS> hAm&
{VYmaU AZwnmV JV df Ho$ 85.12% H$s VwbZm | 85.60 % ahm&
10714.56
9326.02
14.89%
12.48%
691.69
509.79
Agm OmopI Ama{j{V | n[adVZ

ew r{` H$m {VeV
CnJV Xmdo( ew)
6.46%
5.47%
8801.09
7443.03
ew r{` H$m {VeV
82.14%
79.81%
H$reZ(ew)
ew r{` H$m {VeV
~rm H$mamo~ma go g~pYV MmbZ d`
({d{Z` hm{Z/ bm^ g{hV )
ew r{` H$m {VeV
513.35
531.29
4.79%
5.70%
2924.07
2648.57
27.29%
28.40%
{Zdoe Am` (ew mdYmZ )

A` Am`
2444.95
2128.91
26.58
-3.01
Hw$b Am`
nm{bgrYmaH$m| H$mo AVaV
eoà YmaH$m| H$mo AV[aV
2471.53
2125.90
1750.43
1497.49
721.10
628.41
2015-16 | {Zdoe go Am` JV df 2014-15 Ho$ ` 244.02

H$amoS> H$s VwbZm | ` 316.04 VH$ ~T>r& {Zdoe na AmgV Am`;
{Zdoe H$s {~H$r na bm^ Ama A` Am` g{hV 2014-15 Ho$
11.61 {VeV H$s VwbZm | 12.61 {VeV h& H$nZr Zo G$U Ama
{S>doMg Ho$ dJrH$aU Ama Ja {ZnmXZ n[agnpV`m| Ho$ {bE mdYmZ
Ho$ g~Y | BaS>m Ho$ [aOd ~H$ Ho$ {Xem {ZX}em| H$m nmbZ {H$`m&
31.03.2016 H$mo ew Ja {ZnmXZ n[agnpV`m| H$m {VeV Hw$b
{Zdoe 31.03.2015 Ho$ 0.09 {VeV H$s VwbZm | 0.07 {VeV
Wm&
31 mM 2016 H$mo Hw$b {Zdoe H$m ImVm y` ` 19665.29

H$amoS> h Omo JV df ` 19097.56 H$amoS> Wm Ama Mmby df | ew
gM`Z ` 567.73 h Omo df 2014-15 | ` 1518.40 H$amoS>
Wm&
(` H$amoS> | )
2015 16
28008.04
19665.29
Hw$b n[agn{m`m
{Zdoe gn{m`m (ImVm _y` na)
2014 15
28726.70
19097.56
31 mM 2016 H$mo H$nZr Ho$ B{$Q>r nmoQ>$mo{b`mo H$m ~mOma y` ` 9293.71 H$amoS> h {OgH$m ImVm y` ` 5160.68 H$amoS> h& JV df H$m y`
H$e: ` 10296.60 H$amoS> Ama ` 4417.50 H$amoS> Wm&
68
(` in crores)
2015-16
2014-15
12250.36
14.58%
10691.73
10.12%
10714.56
9326.02
14.89%
12.48%
Change in Unexpired Risk Reserves
691.69
509.79
6.46%
5.47%
Incurred Claims (Net)
8801.09
7443.03
82.14%
79.81%
Commission (Net)
513.35
531.29
4.79%
5.70%
(Including Exchange Loss / Gain)
2924.07
2648.57
27.29%
28.40%
Investment Income (Net of provisions)
2444.95
2128.91
Other Income
26.58
-3.01
Total Income
2471.53
2125.90
Apportioned to Policy Holders
1750.43
1497.49
Apportioned to Share Holders
721.10
628.41
Gross Direct Premium

Percentage change over previous year
The Company recorded a growth rate of 14.58% as against 10.12 % in the previous year.
Net Premium
Percentage change over previous year
PERFORMANCE REVIEW
The net premium grew by Rs.1388.54 crores to Rs.10714.56 crores in the year 2015-16.
The retention ratio stands at 85.60% as compared to 85.12% in the previous year.
Operating expenses relating to Insurance Business
aggregated to ` 19665.29 Crores from ` 19097.56 Crores

in the Previous Year and the net accretion during the year
amounted to ` 567.73 Crores as against ` 1518.40 Crores in
2014 15.
2015 16
28008.04
19665.29
Total Assets
Investments Assets (at Book Value)
(` in Crores)
2014 15
28726.70
19097.56
The Market Value of our Equity Portfolio as at 31st March 2016 stood at ` 9293.71 Crores as compared to Book Value of ` 5160.68 Crores.
The Corresponding value for the previous year was ` 10296.60 Crores and ` 4417.50 Crores respectively.
69
Book value of total investments as at 31st March 2016
Investment Income on net basis increased by ` 316.04

Crores in 2015 16 as compared to ` 244.02 Crores in
2014 15. The Mean yield on Investments (including Profit
on Sale and Other Income) is 12.61% as compared to 11.61%
in 2014 15. The Company followed the IRDAI norms/
related RBI guidelines relating to classification of loans and
debentures and provision for Non-Performing Assets. The net
NPA percentage to Total Investments stood at 0.07% as on
31-03-2016 as against 0.09% as on 31-03-2015.
~rm {d{Z`mH$ Ed {dH$mg m{YH$aU {d{Z` H$m AZwnmbZ :31 mM 2016 H$mo H$nZr Zo B$mQ Ma | {Zdoe go g~{ YV ~rm {d{Z`mH$ Ed {dH$mg m{YH$aU Ho$ {d{Z` H$m AZwnmbZ {H$`m {OgH$m {ddaU {ZZmZwgma h :31-03-2016 H$mo {Zdoe
(` H$amoS> |)
dJ
H|$r` gaH$ma, am` gaH$ma Ama A` AZwmo{XV
{V^y{V`m
am` gaH$ma H$mo Amdmg Ama F$U -Amdmg Ama A{ eZ
AmYma^yV gaMZm | {Zdoe
Hw$b % {Zdoe
{ZYm[aV grm
6409.17
32.59%
Not less than 30%
1981.74
10.08%
Not less than 5%
3550.13
18.05%
Not less than 10%
w` boIm AZwnmV
2015-16 (%)
{ddaU
VH$ZrH$s Ama{j{V AZwnmV
2014-15 (%)
140.30
147.08
ew {VYmaU AZwnmV
85.60
85.12
MmbZ bm^ AZwnmV
-4.64
-3.51
ew Am` AZwnmV
2.06
3.22
ew y` go m Am`
3.85
5.38
amQ>r` amOH$mof Ho$ {bE AeXmZ :H$nZr Zo df 2015-16 | amQ>r` amOH$mof {d{^Z H$am| Ama bm^mem| hoVw ` 1675.31 H$amoS> H$m mwJVmZ {H$`m h Omo df 2014-15 | ` 1488.81
H$amoS> Wm&
(` H$amoS> | )
{ddaU
2015-16
2014-15
{ZJr` H$a
115.00
125.00
gn{m H$a
0.91
0.81
bm^me gaH$ma H$mo ^wJVmZ
61.00
106.00
bm^me H$a df Ho XmamZ ^wJVmZ
12.40
18.00
godm H$a
1486.00
1239.00
Hw$b
1675.31
1488.81
2.3 {ZJr` gmm{OH$ Xm{`d A{^H$:-
mBH$mo ~rm :-
hmar d{ VWm {dH$mg V~ VH$ Zht nyam hmo gH$Vm h `{X h| hmao
Jmdmo H$mo BgH$m AJ Z ~ZmE& gmdoe d{ H$s hVm H$mo gPVo hE
hmar H$nZr Zo ~rm gmdoeZ Ho$ AJ Ho$ $n | Jmdm| H$m AJrH$aU {H$`m
h {OgHo$ VhV Jmdm| Ho$ dm`, dN>Vm VWm e{jH$ ybmyV T>mMo Ho$
{dH$mg VWm Jmd | ha EH$ Ho$ ` ~rm H$m gXoe nhMmZo H$m H$m`
{H$`m OmVm h& Bg {Xem |, `wZmBQ>oS> B{S>`m Zo AmO VH$ nyao ^maV |
59 Jmdm| H$m AJrH$aU {H$`m h& JV {dVr` df | hZo 24 Jmdm| H$m
AJrH$aU {H$`m& H$nZr A{Y{Z` 2013 Ho$ VhV Ano{jV gr.Eg.Ama.
[anmoQ> AZwbH$ 3 Ho$ $n | gb h&
mBH$mo ~rm Jar~m| H$s Agwajm H$mo H$ H$aZo VWm Ch| {d{eQ> OmopIm|
Ho$ {d$ gwajm XmZ H$aZo H$m EH$ hdnyU gmYZ h& H$nZr Zo Xoe
â | mBH$mo H$mamo~ma Ho$ CZ`Z hoVw 15 mBH$mo ~rm H$mo> Imobo h&
df 2015-16 | H$nZr Zo mBH$mo VWm JmrU ~rm Ho$ VhV ` 228.50
H$amoS> H$m r{` A{OV {H$`m&
A` :H$nZr Zo gmm{OH$ jo | 64194131 `pVAm| H$mo Amd[aV
70
As on 31st March 2016, the Company has complied with IRDAI Regulations in Investments including investments in infrastructure as under:
Investment as on 31-032016 ( ` in Crores)
Category
% to total Investments
Prescribed Limit
Central Government, State Government and Other

Approved Securities
6409.17
32.59%
Not less than 30%
Housing and Loans to State Govt. Housing and Fire

Fighting
1981.74
10.08%
Not less than 5%
Investment in Infrastructure
3550.13
18.05%
Not less than 10%
Compliance with IRDAI Regulation:
Key Accounting Ratios

Particulars
2015-16 (%)
Technical Reserve Ratio
2014-15 (%)
140.30
147.08
Net Retention Ratio
85.60
85.12
Operating Profit Ratio
-4.64
-3.51
Net Earning Ratio
2.06
3.22
Return on Networth
3.85
5.38
Contribution to National Ex-Chequer

The Company has contributed to National Ex-Chequer towards payment of various taxes and dividend amounting to ` 1675.31 Crores in the
year 2015-16 as against ` 1488.81 Crores in the year 2014-15.
(` in crores)
2015-16
Corporate Tax
2014-15
115.00
125.00
0.91
0.81
Dividend paid to Government
61.00
106.00
Dividend Tax paid during the year
12.40
18.00
Service Tax
1486.00
1239.00
TOTAL
1675.31
1488.81
Wealth Tax
2.3 CORPORATE SOCIAL RESPONSIBILITY INITIATIVES
MICRO INSURANCE
Our Growth & development cannot be complete without our Villages

being a part of it. Realising the importance of inclusive growth,
our Company has adopted villages as part of insurance inclusion,
envisaging development of health, hygiene and educational
infrastructure of the village and also spread the message of
insurance to everyone in the Village. Towards this, UIIC had adopted
59 villages all over India till date. For the last financial year, we have
adopted 24 Villages. CSR report as required under the Companies
Act 2013 is enclosed as Annexure- 3
Micro Insurance is a valuable tool to reduce the vulnerability of the

poor and protect them against specific risks. The Company has
opened 15 Micro Insurance Cells across the country to promote
Micro insurance business.
The Company procured a premium of ` 288.50 Crores under Micro
& Rural insurance for the year 2015-16.
Others :
The Company covered 64194131 lives in Social Sector as against
71
Particulars
{H$`m Omo {H$ JVdf 56974547 Wm Bg Vah 12.28 % H$s d{ Xa

hm{gb H$s& JmrU jo Zo df 2015-16 o ` 1612 H$amoS> r{`
nyam H$aVo hE 7.13 % H$s d{ XO H$s&
ZE A{^H$ - H$mZ g{dg goQ>a

H$nZr H$m EH$ AmaZ`m A{^H$ h - gr. Eg.gr. Ho$ m` go JmrU
BbmH$m| | {deof $n go V`ma CnmXm| H$m {ddaU&
H${f ~rm :-
JmrU VWm gmm{OH$ jo Ed mBH$mo ~rm

H$nZr H$m `mZ {ZaVa JmrU, gmm{OH$ jo VWm mBH$mo ~rm na
Ho$pV h& `h JV df H$s Vah Mmby df | ^r JmrU Ama gmm{OH$ jo
Ho$ H$mamo~ma na BaS>m Ho$ AmXoem| H$m AZwnmbZ H$a ahr h& H$nZr b~o
g` go ~rm AmdaU H$s n[a{Y go ~mha ahZo dmbo Agwa{jV, Jar~ VWm
Jar~r aoIm go ZrMo H$s OZg`m dmbo dJm} H$mo w`V: ~rm gwajm XmZ
H$aZo Ho$ gmW JmrU VWm gmm{OH$ jo Ho$ ~ro | AJUr WmZ na h&
hZo AmY Xoe, H$ZmQ>H$, Ho$ab, V{bZmSw> VWm VobJmZm | `mnH$

$gb ~rm AmdaU Ho$ VhV Ja G$Ur {H$gmZm| H$mo bmZo Ho$ {bE df
2012-13 | EJrH$Ma B`moa|g H$nZr Ho$ gmW JR>~YZ {H$`m Wm&
hZo H$m$s, a~a, nH$dwS>, Bbm`Mr VWm Amby Ogo BZ hmCg CnmXm|
Ho$ {bE E.AmB.gr. Ho$ gmW JR>~YZ H$m {dVma {H$`m h& df 2014-15
| hZo Ho$ab Ama H$ZmQ>H$ | H$m$s ~rm go r{` m H$aZm ew$
{H$`m h& hZo aoe CnmX ~rm | ^r doe {H$`m h&
hZo df 2015-16 | 31065 H$fH$mo H$mo Amd[aV H$aVo hE ` 8.25
H$amoS> H$m r{`_ AOZ VWm ` 37.07 H$amoS> H$m Xmdm mwJVmZ {H$`m
h&
H$nZr mam Hw$b ~rm{H$V r{` | go JmrU Ama gmm{OH$ jo | m r{` Ho$ ^mJ H$m {ddaU {ZZmZwgma h:{ddaU
2015-16
Hw$b ~rmbopIV r{` (` H$amoS> |)
12250.36
10691.73
1612.18
1504.80
82.78 bmI
82.27 bmI
884.14
853.20
6.42 H$amoS>
5.70 H$amoS>
JmrU jo r{` (` H$amoS> |)

Hw$b ~rmbopIV nm{b{g`m (JmrU jo)
gmm{OH$ jo r{` (` H$amoS> |)
gmm{OH$ jo | Amd[aV Hw$b OrdZ g`m
2014-15
JmrU Amina gmm{OH$

jo Social
| d{ Sector
Growth
Rural and
13000
gm_m{OH
jo
SOCIAL
SECTOR
12250
12000
10692
10000
88
JmrU jo
RURAL SECTORS
8000
2000
9754
1612
2015-16
1505
2014-15
4000
884
6000
853
1612
0
Social
Sector
gmm{OH$
joPremium
r{`
A`
OTHERS
70000000
Rural
Sector
JmrU
joPremium
r{`
64194131
60000000
56974548
50000000
40000000
30000000
20000000
8277502
10000000
8226934
2015 - 16
No.
Policies
(Rural Sector)
Oar nmof{b{g`mo
H r g.Underwritten
(JmrU jo)
72
2014 - 15
No.
of Lives
in Social
gm_m{OH
jo covered
| Amd[aV `{V`mo
H r gSector
.
TotalIGross
Premium
~rmbo
Z go m
gH b
Underwritten
jo r{`
We have procured a premium of ` 8.24 Crs covering 31065 farmers

and paid claims of ` 37.07 Crs in the year 2015-16.
AGRICULTURE INSURANCE
Another initiative of Company is to market specially designed

products in rural areas through CSCs.
New Initiative:-Common Service centres
We ventured into Crop Insurance in the year 2012-13 on a tie up

basis with Agriculture Insurance Company to bring the Non Loanee
farmers under the Crop Insurance blanket in Andhra Pradesh,
Karnataka, Kerala, Tamil Nadu and Telangana.
RURAL AND SOCIAL SECTOR AND MICRO INSURANCE
56974547 in the previous year, achieving a growth rate of 12.28%.

The Rural Sector premium saw a growth of 7.13% when it completed
`1612 crores in the year 2015-16.
The Company has always consistently focused on Rural, Social

Sector and Micro Insurance. It has been complying with the IRDA
obligations on Rural and Social Sector business during the previous
years and in the current year as well. The Company is the leader
in Rural and Social Sector insurance, primarily catering to the
vulnerable, poor and BPL sections of the population, who have been
outside the ambit of insurance coverage for a long time.
We have further extended the MOU with AIC In House products like
Coffee, Rubber, Pulpwood, Cardamom & Potato. In the year 2014-15
we started to procure premium in Coffee Insurance in Kerala and
Karnataka. We have also ventured into Sericulture insurance.
The share of Rural and Social Sector Premium in the Gross Premium underwritten by the Company is as under :
Particulars
2015-16
12250.36
10691.73
1612.18
1504.80
82.78 Lacs
82.27 Lacs
884.14
853.20
6.42 Crs
5.70 Crs
Total Gross Premium underwritten (` in Crs)

Rural Sector Premium (ìn Crs)
No. of Policies underwritten (Rural Sector)
2014-15
Social Sector Premium (` in Crs)

No. of lives covered in Social Sector
Growth in Rural and Social Sector

13000
SOCIAL SECTOR
12250
12000
10692
10000
88
RURAL SECTORS
8000
853
2000
9754
1612
2015-16
1505
2014-15
4000
884
6000
0
Social Sector
Premium
OTHERS
70000000
Rural Sector
Premium
64194131
60000000
56974548
50000000
40000000
30000000
20000000
8277502
10000000
8226934
2015 - 16
No. of Policies Underwritten (Rural Sector)
73
2014 - 15
No. of Lives covered in Social Sector
Total Gross Premium

Underwritten
1612
5 CZV {M{H$gm {H$`mAm| Ogo H$moH${bà `mamonU, JwXm

`mamonU Ho$ {bE gaH$mar AnVmbm| Ho$ mwJVmZ | go 28 % H$s
am{e H$mo KQ>mH$a EH$ H$mng $S> ~Zm`m J`m h {Og| `wZmBQ>oS>
B{S>`m Zo ` 1.50 bmI H$m mwJVmZ {H$`m h& H$mng $S> | eof
mwJVmZ V{bZmSw> gaH$ma mam {H$`m J`m h&
`h `moOZm am` Ho$ {d{^Z gyhm| Ho$ {bE Q>r.nr.E. mam em{gV
H$s Om ahr h {Og| {dS>mb hoW Q>r.nr.E.; XwaB OmoZ) -14 {Obo,
oS>r A{gQ> B{S>`m Q>r.nr.E.; MoZB OmoZ)-14 {Obo VWm E.S>r.
B{S>`m Q>r.nr.E.; H$mo`~Qy>a OmoZ)- 8 {Obo AnZo doS>am|, mQ> H$mS>
~YZ Ho$ {bE mg {g`mo[aQ>r og Ama Xmdm boQ>$m ~YZ Ho$
{bE [aoS>rZoQ> Q>oZmbmOrg Ho$ gmW H$m` H$a aho h&
nyd A{YH$VrH$aU VWm Xmdm| H$s {H$`m ~m`mor{QH$ Ama $moQ>moJm$ Ho$
gmW mQ>H$mS> Ho$ m` go H$ebog h& Xmdm| H$s {H$`m AmZbmBZ
Ama H$mJOa{hV h& {V{XZ AmgVZ 1200 nyd A{YH$VrH$aU Ho$
mbo m hmo aho h {OgHo$ {bE nyd A{YH$VrH$aU hoVw 24 KQ>o go
H$ VWm Xmdm {ZVmaU hoVw XVmdoO Vw{V Ho$ 7 {XZ Ho$ AXa
EZ.B.E$.Q>r. AmYma na hmoQ> Qy> hmoQ> AnVmb Ho$ ImVo | mwJVmZ
Ho$ ghV Q>Q> Ho$ AZwgma AZwmo{XV {H$E OmVo h&
nZb~ AnVmb | bm^m{W`m| H$s nyN>VmN> VWm `moOZm Ho$ VhV
CnMma m H$aZo H$s AnojmAm| H$mo nyam H$aZo Ho$ {bE EH$ gnH$
A{YH$mar H$màV h&
ZE gX`mo Ho$ ZmmH$Z Ho$ {bE H$boQoQ> | {Obm {H$`moH$ Wm{nV
{H$E JE h&
òH$ {Obo | Q>r.nr.E. Ho$ H$m`mb` h {OZ| EH$ {Obm n[a`moOZm
A{YH$mar, {Obm gd`H$Vm, {Obm {M{H$gm A{YH$mar VWm {Obm
gVH$Vm A{YH$mar hmoVm h Ohm na `moOZm H$s gKZ {ZJamZr VWm
AnVmbm| mam H$ebog CnMma gw{ZpMV H$amZo Ho$ {bE hZo
godm{ZdV nw{bg A{YH$mar aIo hE h&
AmO H$s {V{W Ho$ AZwgma Bg `moOZm Ho$ VhV 159 gaH$mar
AnVmb Ama 600 {ZOr AnVmb Hw$b {bmH$a 759 AnVmb
bm^m{W`m| H$mo godmE Xo aho h&
gaH$mar AnVmbm| mam gMm{bV oJmm dm` {e{dam| Ho$ Abmdm
{ZOr AnVmbm| mam ^r m{gH$ AmYma na dm` {e{da bJmE
Om aho h&
JV df gMm{bV dm` {e{dam| H$s g`m - 12515
MoZB ~mT> Ho$ ~mX gMm{bV dm` {e{dam| H$s g`m - 6443
{g{db H$moQ> Ho$ jom{YH$ma Ho$ Abmdm {Obm VWm am` Va na
{eH$m`V {ZdmaU V H$màV h&
bm^m{W`m| H$s Amd`H$VmAm| H$mo nyam H$aZo Ho$ {bE 24 KQ>o Q>mob $s
H$mb goQ>a; 18004253993) CnbY h&
JmrU Ama gmm{OH$ jo | d{ :JmrU jo- r{`-7.13 %

gmm{OH$ jo - OrdZ g`m - 12.28 %
am>r` dm` ~rm `moOZm ;Ama. Eg. ~r. dmB.) VWm A`

gaH$mar `moOZmE :am>r` dm` ~rm `moOZm Xoe H$s Jar~r aoIm Ho$ ZrMo H$s; AgJ{R>V
jo H$s) Am~mXr hoVw EH$ wI dm` ~rm `moOZm h {Ogo l Ed
{Z`moOZ mb` ^maV gaH$ma VW am` gaH$mamo mam V`ma VWm
H$m`mpdV {H$`m J`m h& `wZmBQ>oS> B{S>`m am>r` dm` ~rm `moOZm Ho$
VhV Xoe â Ho$ 72 bmI n[admam| Ho$ 2.7 H$amoS> `pV`m| H$mo Amd[aV
H$aHo$ AJUr ~rmH$Vm ~Zr hB h& Bg df `wZmBQ>oS> B{S>`m Zo 7 am`m|
Ho$ 103 {Obm| | am>r` dm` ~rm `moOZm H$m {H$`md`Z {H$`m h&
Hw$N> am`m| | hWH$aKm ~wZH$am| H$mo ^r {Vdf ` 7500/- VH$ Ho$
Amo.nr.S>r. {M{H$gm bm^ Ho$ gmW Ama. Eg. ~r. dmB. `moOZm Ho$ VhV
Amd[aV {H$`m h&
hZo nOm~ Ho$ 38 {Obm|o | 26 bmI n[admam|o Ho$ 1.1 H$amoS> `pV`m|
H$mo Amd[aV H$aVo hE ^JV nyaZ qgh gohV ~rm `moOZm, XmXam Ed ZJa
hdobr VWm Xrd Ama XZ gK am`m| | dm` `pVJV XwKQ>Zm
AmdaU Ho$ gmW gOrdZr dm` ~rm `moOZm VWm CVamIS> |
w`r dm` ~rm `moOZm H$m ^r {H$`md`Z {H$`m h&
A` gaH$mar dm` ~rm `moOZmE :V{bZmSw> w`r `mnH$ dm` ~rm `moOZm :(QrEZgrE_grhoMAmBEg)
hmar H$nZr H$mo V{bZmSw> gaH$ma mam w`r `mnH$ dm`
~rm `moOZm Ho$ {H$`md`Z hoVw MwZm J`m Omo {H$ 11 $adar 2012
go 4 df H$s Ad{Y Ho$ {bE VWm Amngr gh{V Ho$ AmYma na EH$
df VH$ Ama {dVm[aV H$aZo Ho$ {dH$n Ho$ gmW {H$`md`Z hoVw Wr
Ama Bgo {dVm[aV ^r {H$`m J`m h VWm h A~ BgHo$ gMmbZ Ho$
nmMdo df | h&
Bg `moOZm H$m CXXo` Jm emgZ A{YH$mar; (dr.E. Amo.) mam
`Wm m{UV ` 72000/- go H$ dm{fH$ Am` dmbo dY ameZ
H$mS> YmaH$ n[admam| Ho$ gX`m| H$mo gaH$mar VWm {ZOr AnVmbm| |
{M{H$gH$s` VWm e` CnMma XmZ H$aZm h&
AmO H$s {V{W VH$ Bg `moOZm | ZE Zmm{H$V n[admam| g{hV 1.56
H$amoS> n[admam| H$mo Amd[aV {H$`m J`m h&
~r{V am{e ` 1 bmI {V n[adma $bmoQ>a AmYma na h {Og| 77
ZB {M{H$gm n{V`m| Ho$ {bE ` 1.5 bmI VH$ H$aZo H$m mdYmZ
^r h&
Xoe | 23 ZXm{ZH$ {H$`mAm| Ho$ gmW 1016 {H$`mE VWm 113
AZwdVr {H$`mE nhbr ~ma ew$ H$s JB h&
74
Rural Sector Premium : 7.13 %

Social Sector No. of Lives : 12.28 %
RASHTRIYA SWASTHYA BIMA YOJANA (RSBY) AND OTHER
GOVT SCHEMES
RSBY is a major Health Insurance scheme for the Below Poverty
Line population (unorganised sector) of the Country, conceived and
implemented by the Ministry of Labour and Employment, Govt.of
India and the State Govts. UIIC is a leading player in the RSBY health
insurance scheme covering 72 lakhs families consisting of 2.70
Crore lives across the country. During this year, UIIC has implemented
RSBY in 103 Districts of 7 States. In some states, Handloom Weavers
are also covered in RSBY scheme with Out Patient Treatment benefits
upto ` 7500/- per year.
We are also implementing Bhagat Puran Singh Sehat Bima Yojana
covering 38 districts in Punjab with 26 lac families and 1.1 crore
person covered, Sanjeevani Swasthya Bima Yojana in the Union
territory of Dadar and Nagar Haveli and Diu and daman with Health
and PA Cover & Mukhya Mantri Swasthya Bima Yojana in Uttrakhand.
Other Government Health Insurance Schemes:

TAMILNADU CHIEF MINISTERS COMPREHENSIVE HEALTH
INSURANCE SCHEME (TNCMCHIS)
Our Company was awarded by the Govt. of Tamil Nadu
to implement Chief Minister Comprehensive Health
Insurance Scheme which came into operation on 11th
January 2012 for a period of 4 years and with an option
for extension by one year on mutual consent and it has
been extended and we are in the 5th year of operation.
The objective of the scheme is to provide free medical
and surgical treatment in government and private
hospitals to the members of any family whose annual
family income is less than ` 72,000/- as certified by the
Village Administrative Officer (VAO) and who has valid
ration card (PDS).
As on date the scheme covers 1.56 crore families
including newly enrolled families.
The sum insured is ` 1 lakh floater per family with
the provision to pay up to ` 1.5 lakhs for 77 advanced
procedures.
1016 procedures including 113 follow-up procedures
with 23 diagnostic procedures were introduced for the
first time in the country.
75
A corpus fund is created by deducting 28% of the

payment to the Government hospitals for covering 5 high
end procedures like Cochlear Implant, Renal Transplant,
where `1,50,000/- is paid by UIIC and balance amount is
paid by TamilNadu Government from Corpus fund.
The scheme is being administered through 3 TPAs for
different clusters of the state: Vidal Health TPA(Madurai
Zone)-14 Districts, Medi Assist India TPA(Chennai Zone)10 Districts and MD India TPA(Coimbatore Zone)- 8
Districts with their vendors Madras Security Press for
Smart Card management and Remedinet technologies
for Claims platform management.
The processing of pre-authorisations and claims
is cashless through smart card with biometric and
photographs. The processing of claims is paperless
through online. On an average about 1200 preauthorisations are received in a day for which approvals
are given as per the agreed TAT of less than 24 hours for
pre-authorisations and 7 days for claims settlement from
submission of document on NEFT basis through Host-toHost to the hospital account.
Every empanelled hospital has a liaison officer to cater
to the requirements of the beneficiaries for enquiries and
availing treatment under the scheme.
District kiosks are established in the collectorates for the
enrollment of new members.
The TPAs have an office in every district consisting of
a district project officer, district co-ordinator, district
medical officer and district vigilance officer where we
have retired police officers for the close monitoring of
the scheme and to ensure cashless treatment by the
hospitals.
As on date 159 Government hospitals and 600 private
hospitals with total of 759 hospitals are rendering
services to the beneficiaries under the scheme.
Health camps are conducted by the private hospitals on
a monthly basis in addition to the Mega health camps
conducted by Government Hospitals.
No. of health camps conducted in the past year = 12515
No. of health camps conducted after Chennai Floods =
6443
Grievance redressal mechanism is in place at the district
level and at the state level in addition to the jurisdiction
of civil courts. The scheme is having a grievance ratio of
less than 1%.
24 hour toll free call center (1800 425 3993) to cater to
GROWTH IN RURAL AND SOCIAL SECTOR
4.
gaH$mar do~gmBQ> (www.cmchistn.com) H$màV h VWm

AVZ H$s OmVr h&
A{Z`{VVmAm| H$s OmM Ho$ {bE nZbrH$aU Ama AZwemgZ g{{V
VWm `w Ed $UVm g{{V Ho$ Abmdm o{S>H$b boIm narjm VWm
gVH$Vm ^r H$màV h&
hZo EH$ {Obo | EH$ AnVmb mam Bgnm`S> hX` Q>oQ>m|o Ho$
`moJ H$m Iwbmgm {H$`m Wm {OgH$s hmBH$moQ> | hmar H$nZr Ama Q>r.
nr.E. H$mo {deof Ho${S>Q> XoVo hE gamhZm H$s Wr& `h A{^`mZ am`
Ho$ g^r AnVmbm| | Mbm`m J`m Wm Ama 6 AnVmbm| H$mo {Zb{~V
{H$`m J`m Wm&
nyao V{bZmSw> am` Ho$ wI WmZm| na `moOZm Ho$ {dkmnZ, Q>mbmo
| Xe{Z`m, n$boQ>m| H$s N>nmB VWm gyMZm ~moS> bJmE JE h&
bJ^J ` 650 H$amoS> H$m r{` {Vdf m hmoVm h {Og|
bm^m{W`m| Ho$ {V df bJ^J 400000 Xmdm| H$m {ZVmaU {H$`m
OmVm h&
ZE ZmmH$Zmo Ho$ gmW nm{bgr df 11.01.2015 go 10.01.2016
Ho$ {bE r{` JV nm{bgr df Ho$ ` 657 H$amoS> Ho$ r{` Ho$
gmnoj ` 755 H$amoS> ahm&
O~{H$ 10.01.2017 H$mo nm{bgr gm hmo ahr h, V{bZmSw> gaH$ma
{dYmZg^m MwZmdm| Ho$ ~mX ZB gaH$ma Ho$ JR>Z Ho$ nMmV nwZ: {Z{dXm
Am{V H$a gH$Vr h&
5.
6.
3. H$manmoaoQ> JdZ}g H$s [anmoQ>

H$nZr H$manmoaoQ> JdZ]g Ho$ jo | AZwnm{bV H$s OmZo dmbr gdm}m
H$mÙmbr H$mo AnZmZo | {dmg H$aVr h& H$nZr AnZo {hVYmaH$m|
Ho$ {hVm| H$s gwajm Ho$ {bE AnZo g^r g`dhmam| | nyU nmaX{eVm Ama
Odm~Xohr na Omoa XoVr h&H$nZr | emgZV Ho$ m` go {ZXoeH$
S>b AnZr g{{V`m| Ho$ m` go AnZo {ZU`m| | nmaX{eVm, {Znj
H$m` Ama dVVm gw{Z{V H$aVo hE AnZo gV {hVYmaH$m| Ho$ {V
``r CmaXm{`dm| Ho$ {bE dMZ~ h&
Ohm VH$ ~rm jo H$m Z h, nm{bgr YmaH$m| Ho$ {hV H$s gwajm, emoY
eH$m H$m aIaImd, O~yV XrKH$mbrZ {Zdoe Zr{V VWm {ddoH$ gV
AmYma na OmopIm| H$m ~rmH$Z Ama gmao gmJR>{ZH$ T>mMo | gnyU
OmopI ~YZ Ho$ y`mH$Z Ogo nhbwAm| na Omoa {X`m J`m h&
2.4 XmZ :-
{ZXoeH$ S>b Ama CZH$s Cn g{{V`m| H$m {ddaU {ZZmZwgma h :-
H$nZr Zo 01.04.2015 go 31.03.2016 VH$ {ZZ{bpIV XmZ {H$E

:w`r gmdO{ZH$ amhV {Z{Y, V{bZmSw> gaH$ma H$mo
` 2,00,00,000; Xmo H$amoS>)
3.1 {ZXoeH$ S>b :lr {H$emoa Hw$ma gmgr, lr E. dr. {J[aOm Hw$ma, gwlr {gYy {nB,
lr E. dr.dr. Mb Ama lr E hmoS>m {ZXoeH$ Ho$ $n | H$e:
11.05.2015, 20.07.2015, 08.01.2016, 27.01.2016 VWm
25.04.2016 H$mo {Z`wV {H$E JE&
2.5 H$nZr H$m mZ - nwaH$ma Ama gmZ :
E{e`m n{g{$H$ EM.Ama.E. H$mJog- 2015 nwaH$ma

A) EM. Ama. Amo[aEQ>oeZ Ho$ gmW gr. B. Amo.
~) Or.E. EM. Ama. Ho$ {bE moQ> Bbype`b EM.Ama.
moo$eZb BZ E{e`m
amO^mfm H$m`md`Z g{{V MoZB - gmdO{ZH$ jo Ho$
CnH$m| | amO^mfm Ho$ Jmr `moJ hoVw W WmZ
bm`g gr.Eg.Ama. AdmS>- AVam>r` bm`g b~ H$s
Amoa go
df Ho$ XmamZ H$nZr Zo {ZZ{bpIV {V{>V nwaH$ma m {H$E1.

H$mM $mBZ{e`b BZbyOZ ES> S>rnqZJ nwaH$ma 2015
- AmS>a Am$ o[aQ> - do~gmBQ> Ho$ m` go JmhH$ {ejm
2.
B{S>`m B`moa|g EdmS> 2015 :
A) ~H$m`moa|g brS>a gmYmaU ~rm; ~S>r H$n{Z`m)
~) AZ [aOdS> mHo}$Q> noZrQ>oeZ gmYmaU ~rm; ~S>r H$n{Z`m)
3.
H$manmoaoQ> JdZ}g Bgrbog nwaH$ma - EgmoMo
lr Q>r. E. ^grZ, lrVr Amem Zmà Ama lr E. dr. dr. Mb H$e:

01.04.2015, 01.10.2015 Ama 01.03.2016 H$mo {ZXoeH$ nX go
H$m`wV hE& H$nZr Ho$ {ZXoeH$ Ho$ $n | lr Q>r. E. ^grZ, lrVr
Amem Zmà Ama lr E. dr. dr. Mb mam Xr JB Ay` godmAm| H$s
{ZXoeH$ S>b Zo gamhZm H$s&
76
Underserved market penetration general insurance (large

companies)
3.
Corporate Governance Excellence Award ASSOCHAM
4.
Asia Pacific HRM Congress 2015 Awards

a. CEO with HR orientation
b. Most influential HR professionals in Asia for GM HR
5.
Official Language implementation Committee, Chennai,

-First position among Public Sector undertaking for
progressive use of Official language
6.
Lions CSR Award - The international Association of

Lions Club
3. REPORT ON CORPORATE GOVERNANCE

The Company believes in adopting the best practices that are
followed in the area of Corporate Governance. The Company
emphasizes the need for full transparency and accountability in all
its transactions, in order to protect the interests of its stakeholders.
Through the Governance mechanism in the Company, the Board
along with its Committees undertakes its fiduciary responsibilities
to all its stakeholders by ensuring transparency, fair play and
independence in its decision making.
As regards the Insurance sector, the emphasis is on aspects like
protection of the interests of the policyholders, maintenance of
solvency, sound long term investment policy and assumption of
underwriting risks on a prudential basis and evaluation of overall
risk management across the structure of the organization.
DONATIONS
Company has made the following Donations during the period

1.4.2015 to 31.3.2016:
Chief Ministers Public Relief Fund, Government of Tamil Nadu
` 2,00,00,000/- (Two crores)
The details of the Board and its Sub-committees are given below:
2.5
Shri Kishore Kumar Sansi, Shri A V Girija Kumar, Ms. Sindhu Pillai,
Shri M V V Chalam and Shri A Hoda, were appointed as Directors
with effect from 11.5.2015, 20.7.2015, 8.1.2016, 27.1.2016 and
25.4.2016 respectively.
3.1 BOARD OF DIRECTORS
RECOGNITION FOR THE COMPANY- AWARDS &

ACCOLADES
During the year the company received the following prestigious

awards.
1.
SKOCH Financial Inclusion & Deepening Awards, 2015
-Order of Merit Consumer Education through website
2.
India Insurance Awards, 2015
a.
Bancassurance Leader general insurance (large companies)
Shri T M Bhasin, Smt. Asha Nair and Shri M V V Chalam ceased to

be Directors with effect from 1.4.2015, 1.10.2015 and 1.3.2016
respectively. Board placed on record its appreciation of the valuable
services rendered by Shri T M Bhasin, Smt. Asha Nair and Shri M V V
Chalam as Directors of the Company.
77
2.4
b.
the requirements of the beneficiaries.

Official website (www.cmchistn.com) is maintained and
updated.
Medical audit and vigilance in addition to empanelment
and disciplinary committee and mortality and morbidity
committee are in place to check against irregularities.
We have unearthed the use of the expired cardiac stents
by a hospital in one district which has been applauded by
the high court giving special credit to our company and
the TPAs. The exercise was carried out in all the hospitals
across the state and 6 hospitals were suspended.
Scheme advertisements, exhibitions in stalls, printing of
pamphlets, information boards are installed in prominent
places across the state of TamilNadu.
About ` 650 crores is received as premium per annum
with about 4,00,000 claims per annum are settled to the
beneficiaries.
With the new enrollments the premium for the policy year
of 11-01-2015 to 10-01-2016 comes to ` 755 crores. As
against a premium of ` 657 crores in the previous policy
year.
As the policy is coming to an end on 10.01.2017, TamilNadu
government may be floating a tender after the formation of
the new government after the assembly elections.
3.2 ~R>H$ H$m {ddaU :{ZXoeH$ S>b H$s ~R>H$mo H$m {ddaU :df Ho$ XmamZ {ZXoeH$ S>b H$s 4 ~R>H|$ 15 B 2015, 08 AJV 2015, 07 Zd~a 2015 Ama 30 OZdar 2016 H$mo hB&
{ZXoeH$
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lr {{bX IamV
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lr E. dr. {J[aOm Hw$ma
lr E dr dr Mb
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78
BOARD MEETING DETAILS

Four Meetings of the Board were held during the year i.e. on 15th May 2015, 8th August 2015, 7th November 2015 and 30th January 2016.
DIRECTOR
NO. OF MEETINGS HELD DURING HIS/HER

TENTURE
NO. OF MEETINGS ATTENDED
Shri Milind Kharat
Shri Alok Tandon
Ms Sindhu Pillai
Shri Kishore Kumar Sansi
Shri A V Girija Kumar
Shri M.V.V. Chalam
Smt Asha Nair
3.2 MEETING DETAILS
INVESTMENT COMMITTEE MEETING DETAILS

Four Meeting of the Investment Committee were held during the year i.e. on 15th May 2015, 8th August 2015, 7th November 2015 and 30th
January 2016. The Investment Committee monitors the implementation of the Investment Policy as approved by the Board apart from monitoring
the Investment functions.
DIRECTOR

TENTURE
Shri Milind Kharat
Shri Alok Tandon
Shri M.V.V. Chalam
Shri O Lakshmi Narayana
Smt. V Subbulakshmi
The Audit Committee reviews, accounting policies and also the structure, efficacy and process of the internal control systems prevailing in the
company. The Committee deliberates on the Financial Statement of the company before placing the same before the Board of Directors for
adoption.
The Committee dealt with major observations by Internal Audit, queries raised by the C&AG and also the matters related to concurrent audit of
Investment Department. The Committee played a pro-active role in reviewing the status of the Internal Audit in the company and also suggested
improvements in the same.
Four Meetings of the Audit Committee were held during the year i.e. on 15th May 2015, 8th August 2015, 7th November 2015 and 30th January
2016.
DIRECTOR

TENTURE
Shri Alok Tandon
Smt Asha Nair
79
AUDIT COMMITTEE MEETING DETAILS:
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80
Four Meetings of the Risk Management Committee were held during the year i.e. on 15th May 2015, 8th August 2015, 7th November 2015 and
30th January 2016.
DIRECTOR

TENTURE
Shri Milind Kharat
Shri Alok Tandon
Smt Asha Nair
RISK MANAGEMENT COMMITTEE MEETING DETAILS:
POLICYHOLDERS PROTECTION COMMITTEE MEETING DETAILS:

Four Meetings of the Policyholders Protection Committee were held during the year i.e. on 15th May 2015, 8th August 2015, 7th November 2015 and
30th January 2016.
DIRECTOR

TENTURE
Shri Milind Kharat
Shri Alok Tandon
Smt Asha Nair
CORPORATE SOCIAL RESPONSIBILITY COMMITTEE (CSR) MEETING DETAILS:

Corporate Social Responsibility Committee has been constituted as per Section 135 of Companies Act, 2013. Four Meetings of the Corporate
Social Responsibility Committee were held during the year i.e. on 15th May 2015, 8th August 2015, 7th November 2015 and 30th January 2016.
TENTURE
Shri Milind Kharat
Shri Alok Tandon
Smt Asha Nair
INFORMATION TECHNOLOGY COMMITTEE MEETING DETAILS:

Three Meetings of the Information Technology Committee were held during the year i.e. on 8th August 2015, 7th November 2015 and 30th
January 2016.
DIRECTOR

TENTURE
Shri Alok Tandon
Smt Asha Nair
81
DIRECTOR
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82
286242.00
6412029.00
259173976.56
Two Meetings of the Remuneration Committee were held during the year i.e. on 8th August 2015 and 7th November 2015.
TENTURE
Shri Alok Tandon
PROPERTY REVIEW COMMITTEE MEETINGS DETAILS:
Administration) Rules, 2013 in the prescribed Form MGT 9 is

attached with this report in Annexure 1 and forms part of this report.
No meeting was held during the year.

Members of the committee
3.5
1. Shri Milind Kharat
Considering the nature of operations of your company the provisions

of section 134 (3) (m) of the Companies Act 2013 read with
Companies (Accounts) Rules 2014 relating to information to be
furnished on Conservation of energy and Technology absorption are
not applicable.
2. Shri Alok Tandon

3. Shri A V Girija Kumar
4. Smt Asha Nair
HUMAN RESOURCES COMMITTEE
3.6
Human Resources Committee has been constituted as per the new

CDA rules, 2014 and no meeting was held during the year.
1. Shri Alok Tandon
2. Shri Kishore Kumar Sansi
Note: Ms.Sindhu Pillai, Director, DFS was inducted into the Board
in January 2016 and was inducted into the Investment, Audit, Risk
Management, Policy holders Protection,CSR, Property, Information
Technology, Human Resources Committees. However, no Committee
meetings were held after her induction into the Board.
3.7
3.8
Statutory Auditors
M/s.Brahmayya & Co. M/s. Maharaj N R Suresh & Co. and M/s.
Padmanabhan Ramani & Ramanujam, Chartered Accountants
were appointed for the period under review, as Statutory Auditors
by the Comptroller & Auditor General of India under section 619 of
the Companies Act 1956, in addition to the auditors appointed for
various Regional and Divisional Offices.
Extract of Annual Return
The Extract of Annual Return pursuant to section 92(3) of the

Companies Act 2013 read with Companies (Management and
3.9
Particulars of Employees as per Companys Act

2013 beyond threshold:
None of the employees of the Company had salary exceeding ` 60

lakhs warranting reporting under section 196 and rule 5(2) of the Act
and Rules thereunder.
Secretarial Audit
As provided under section 204 of the Companies Act 2013, your

company has appointed M/s Lakshmmi Subramanian & Associates,
a firm of company secretaries to carry out the Secretarial Audit of
the company and their report for the year 2015-16 is enclosed in
Annexure-2.
3.4
Related Party Transactions:
Related party transactions with the following are given in the

financial report
a. Zenith Securities and Investments Limited
b. India International Insurance Pte Ltd, Singapore
c. Ken India Assurance Co. Ltd., Kenya
d. Health Insurance TPA of India Ltd, India
e. Key Management Personnel.
Members of the committee
3.3
Conservation of energy Technology absorption
Expenses of Management during the Year on Entertainment, Foreign Tours and Publicity and
Advertisement are as follows:
ENTERTAINMENT
` 2,86,242.00
FOREIGN TOURS
` 64,12,029.00
PUBLICITY & ADVERTISEMENT
` 25,91,73,976.56
83
DIRECTOR
REMUNERATION COMMITTEE MEETINGS DETAILS:
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13.05.2016
84
Act, 1956 has cleared the accounts of the company without any
comments.
Pursuant to the requirement under Section 134 of Companies Act

2013 (Section 217 (2AA) of the Companies Act, 1956,) with respect
to Directors Responsibility Statement, it is hereby confirmed that:
The Annual Report of the Company along with the DirectorsReport

for the year ending 31.03.2015 was placed under section 619-A
read with 619-B of the Companies Act 1956 on 11.12.2015 and
15.12.2015 on the tables of Lok Sabha and Rajya Sabha respectively.
In the preparation of the annual accounts for the financial year

ended 31st March 2016, the applicable accounting standards have
been followed along with proper explanation relating to material
departures.
a. In the preparation of the Annual Accounts the
applicable accounting standards have been followed
along with proper explanation relating to Material
departures
3.12
The company has set a target premium revenue of `14,400 Crores

in the current fiscal year. The company has carved out a Regional
Office in the State of Rajasthan and opened new RO in Jodpur.
b. the Directors have selected such accounting policies

and applied them consistently and made judgments
and estimates that were reasonable and prudent so as
to give a true and fair view of the state of affairs of the
Company at the end of the financial year and of the
profit or loss of the Company for the year under review;
The company continues to enjoy strong fundamentals with a

solvency ratio of 1.91 as against regulatory requirement of 1.50.
ICRA has accorded iAAA rating for the 13th successive year to
the company, indicating its highest claim paying credentials. The
company secured a financial strength rating of B++ (Positive) for the
last five years from AM Best and International Rating Agency.
c. the Directors have taken proper and sufficient care for

the maintenance of adequate accounting records in
accordance with the provisions of this Act for
safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities;
and
The company has introduced a package policy catering to the MSME

sector. The company has been efficiently managing the mammoth
Tamilnadu Chief Ministers Comprehensive Health Insurance Scheme
for BPL families, the Government Pensioners Health Insurance
Scheme covering more than 6 lakhs pensioners. The company will
utilize the opportunities thrown up by introduction of new distribution
channels. The company will also strengthen the motor portfolio by
roping in more motor dealers and cashless claim settlement facility
for the esteemed policyholders.
3.13
e. The directors have laid down Internal Financial

Controls to be followed by the Company and that such
Internal Financial Controls were adequate and were
operating effectively
Acknowledgements
The Board of Directors conveys its sincere thanks to all clients for their
continued patronage. Board also places on record its appreciation
for the good work done by employees and agents, brokers and other
intermediaries of the company. The Board also thanks the Appointed
Actuary, consulting Actuary, Statutory Auditors, Insurance Division
of the Ministry of Finance, Insurance Regulatory and Development
Authority, General Insurers (Public Sector) Association and Member
Audit Board for their guidance and support.
Placing of Annual Report before The

Parliament
For the 12th consecutive year (upto 2014-15), The Comptroller And
Auditor General of India, under section 619(4) of the Companies
For and on behalf of the Board

MILIND KHARAT
Chairman cum Managing Director
Chennai
13.05.2016
85
d. the Directors have prepared the annual accounts for

the financial year ended 31st March 2016, on a going
concern basis.
3.11
PLANS/OUTLOOK OF INDUSTRY AND COMPANY

FOR 2016-17
3.10 Directors Responsibility Statement
3.14
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86
Profile of the Board of Directors

Name (S/Shri/Smt)
Ariful Hoda
Milind Kharat
Qualification
Field of
Specialisation
BA FIII
Insurance
Director,
Agriculture Insurance Co. of India Ltd
Insurance
1. Director,
GIC Housing Finance Ltd
2.Director,
KenIndia Assurance Company Limited,
Kenya
3.Director,
Central Insurance Repository Limited
4. Director
Health Insurance TPA of India
M A LLB FIII
Status of Directorship
3.14
B Tech, IIT Kanpur

Diploma, AIMA
Management
Alok Tandon, IAS
Engineering
PG Princeton
University
Public Policy
Economics
1.Director ICICI Bank

2.Director, IFCI
3.Director, NHB
4.CMD, AICL
M SC M Phil
M Tech. CISA
Banking
Sindhu Pillai, IPS
MA Economics
Economics
Director, UCO Bank
A V Girija Kumar
B Com
MBA
AIII
Insurance
Director, ITC
Kishore Kumar Sansi
Certification for Compliance of the Corporate Governance Guidelines
I, S Venkataraman, hereby certify that the Company has complied with the corporate governance guidelines for Insurance Companies as
amended from time to time and nothing has been concealed or suppressed.
S VENKATARAMAN
COMPANY SECRETARY
3.16
Disclosure under Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act 2013
The Company has in place an Anti-Sexual Harassment Policy in line with the requirements of the Sexual Harassment of Women at the Workplace
(Prevention, Prohibition and Redressal) Act 2013. Internal Grievance Committee for Women has been set up to redress complaints received
regarding sexual harassment. All employees (Permanent, Contractual, Temporary, and Trainee) are covered under this policy.
The following is the summary of Sexual Harassment complaints received and disposed of during the year 2015-16
No. of complaints received
NIL
No. of complaints disposed of
NIL
87
3.15
MD&CEO,Vijaya Bank
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: `wZmBQ>oS> B{S>`m B`ya|g H$. {b.
B) H$nZr H$s lrUr/Cn loUr/ gK gaH$ma H$s H$nZr
: eoàm| Ho$ AZwnmV | gr{V Xm{`d dmbr H$nZr
C) nOrH$V H$m`mb` H$m nVm Ed gnH$ {ddaU
: 24, dmBQg amoS>, Mo - 600 014
D$) `m gyMr~ H$nZr h?
hm / Zht
: Zht
F$) nOrH$aU Ama WmZmVaU EO|Q>,`{X H$moB hmo Vmo, CgH$m Zm d nVm {ddaU : bmJy Zht
2.
H$nZr H$s w` `dgm` J{V{d{Y`m:

H$nZr Ho$ Hw$b H$mamo~ma | 10% d Cggo A{YH$ `moJXmZ XoZr dmbr `dgm` J{V{d{Y`m| H$m {ddaU {X`m Om`:
H$ g
3.
w` CnmX/godmAm| Ho$ Zm Ed {ddaU
CnmX/godmAm| H$m EZ AB gr H$moS>
Ja OrdZ ~rm
6152
H$nZr Ho$ Hw$b H$mamo~ma | %

100%
{Z`H$, {Z`{V Ed g~ H$n{Z`m| H$m {ddaUH$

g
H$nZr H$m Zm Ed nVm
gr AB EZ/ Or Eb EZ
OoZrW BZdoQ>|Q> ES> go`y[aQ>rg

{b{Q>oS> _ohVm hmCg, g_mMma _mJ U66010MH1916GOI000432
_w~B-400023
hoW B`yaog QsnsE Am\ B[S`m [b
Vsgas _[Ob E qdJ AmBE\$grAmB
U85100DL2013PLC256581
Qmda 61 Zoh bog
ZB [Xbs -110 019
B[S`m BQaZoeZb B`yaog nm[b64
{dXoer H$nZr
[g[gb QsQ #04-02 AmBAmo~s
[~pS J qgJmnwa -049711
88
{Z`H$,
{Z`{V Ed
g~ H$nZr
eoàYmaU H$m {VeV
bmJy Ymam
gm`H
69.45%
2(87)
Agmo[gEQ
23.75%
2(6)
Agmo[gEQ
20.00%
2(6)
4.
Annexures
Annexure - 1
Form No. MGT 9

EXTRACT OF ANNUAL RETURN
As on the financial year ended on 31.3.2016
[Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies
(Management and Administration) Rules, 2014]
I.
REGISTRATION AND OTHER DETAILS:

I)
II)
III)
IV)
V)
CIN
Registration Date
Name of the Company
Category / Sub-Category of the Company
Union Government Company
Address of the Registered office and contact details
U93090TN1938GOI000108
18th February 1938
United India Insurance Company Ltd
Company limited by shares
24 Whites Road
Chennai 600014
VI) Whether listed company
Yes / No
No
VII) Name, Address and Contact details of Registrar and Transfer Agent, if any: - Not Applicable
II.
PRINCIPLE BUSINESS ACTIVITIES OF THE COMPANY

All the business activities contributing 10% or more of the total turnover of the company shall be stated:-
III.
Name and Description of main products/services NIC Code of the product/ service
Non-life Insurance
6152
% to total turnover of the

Company
100%
PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

HOLDING/
SUBSIDIARY/
ASSOCIATE
NAME AND ADDRESS OF THE

COMPANY
CIN/GLN
Zenith Investments and

Securities Ltd
Mehta House, Samachar
Marg, Mumbai-400023
U66010MH1916GOI000432
Subsidiary
69.45%
2(87)
Health Insurance TPA of India

Limited, 3rd, Floor, A-Wing, IFCI
Tower, 61, Nehru Place
New Delhi - 110019
U85100DL2013PLC256581
Associate
23.75%
2(6)
India International Insurance Pte.

Ltd. 64, Cecil Street, # 04-02/IOB
Building, Singapore - 049711
Foreign Company
Associate
20.00%
2(6)
S.No
89
% of shares held
Applicable Section
Sl. No.
4. eoàYmaU H$m d$n ( Hw$b gm`me | gm`me Ae nyOr H$m {dN>oX {VeV)
i) Category wise Share Holding
eoàYmaU H$s loUr
S>rmQ>
^m{VH$
1 ^maVr`
H$.`{$/EM.`y.E$.
I.H|$ gaH$ma
J.am` gaH$ma
K. {ZJr` {ZH$m`
S. ~H$/ {dmr` gWm`|
M. H$moB A`
Cn Hw$b A(1)
2 {dXoer
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
I. A` `{$
J. {ZJr` {ZH$m`
K. ~H$/ {dmr` gWm`|
S. H$moB A`
Cn Hw$b A(2)
A. gdYH$ Ho$ Hw$b eoà
YmaU (A) = A(1) +
A(2)
Am. gmdO{ZH$ eoà YmaU
1. gWm`|
A.`yMb $S>
I.~H$ /{dmr` gWmò
J.H|$r` gaH$ma
K>. am` gaH$ma
S.d|Ma nyOr {Z{Y
M>.~rm H$n{Z`m
N. {dXoer gWmJV
{ZdoeH$
O>.{dXoer d|Ma nyOr {Z{Y
ey`
ey`
ey`
ey`
ey`
A` (Xem`|)
Cn Hw$b (Am)(1)
ey`
S>rmQ>
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
150000000 150000000
100
ey`
30
30
--
149999970 149999970
100
ey`
ey`
ey`
ey`
df Ho$ XmamZ %
| n[adVZ
dfm Ho$ AV | Ym[aV eoàm| H$s g`m
Hw$b eoàm|
H$m %
Hw$b
A. gdYH$
H$. A{Zdmgr ^maVr` `{$
df Ho$ Ama^ | Ym[aV eoàm| H$s g`m
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
150000000 150000000
100
^m{VH$
Hw$b eoàm|
H$m %
Hw$b
30
ey` H$moB n[adVZ Zht
149999970 149999970
100 H$moB n[adVZ Zht
30
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
150000000 150000000
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
150000000 150000000
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
2. Non-Institutions
A.{ZJr` {ZH$m`|
1) ^maVr`
2) {dXoer
Am.`{$JV
90
SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
i) Category wise Share Holding
Category of
Shareholders
No. of shares held at the beginning of the year

Demat
Physical
% of Total
Shares
Total
% Change
during the year
No. of Shares held at the end of the year

Demat
Physical
% of Total
Shares
Total
A. Promoters
(1) Indian
a) Individual/HUF
Nil
30
30
--
Nil
30
30
Nil
No Change
b) Central Govt
Nil 149999970 149999970
100
Nil 149999970 149999970
100
No Change
c) State Govt (s)
Nil
Nil
Nil
Nil
Nil
Nil
d) Bodies Corp.
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
e) Banks/FI
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
f) Any Other
Nil
NIl
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Sub-Total (A) (I):-
Nil 150000000 150000000
100
Nil 150000000 150000000
100
No Change
(2) Foreign
Nil
Nil
Nil
Nil
Nil
Nil
a) NRIs Individuals
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
b) Other Individuals
Nil
Nil
NIl
Nil
Nil
Nil
Nil
Nil
Nil
c) Bodies Corp.
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
d) Banks / FI
Nil
Nil
Nil
e) Any Other
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Sub-Total (A) (2):-
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Total shareholding
of Promoter
(A) = (A) (1)+(A)(2)
Nil 150000000 150000000
100
Nil 150000000 150000000
100
No change
IV.
B. Public
Shareholding
a) Mutual Funds
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
b) Banks / FI
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
c) Central Govt
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
d) State Govt (s)
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
e) Venture Capital Funds
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
f) Insurance Companies
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
g) FIIs
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
h) Foreign Venture
Capital Funds
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
i) Others (specify)
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
a) Bodies Corp.
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
i) Indian
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
ii) Overseas
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
b) Individuals
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Sub-total (B)(1):2. Non-Institutions
91
1.Institutions
1) 1 bmI VH$ Zmm

eoà nyOr YmaU H$aZodmbo
`{$JV
2) 1 bmI go A{YH$
Zmm eoà nyOr YmaU
H$aZo `{$JV eoàYmaH$mo&
B. A` ({ddaUmZwgma)
Cn Hw$b (Am) (2):gmdO{ZH$ eoà YmaU
(Am)= Am (1) + Am (2)
gr Or S>r Ama Ama E S>r
Ama Ho$ {bE A{âjH$ mam
Ym[aV eoàm|
Hw$b `moJ
(A + Am + B)
(ii)
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey` 150000000 150000000
100
ey` 150000000 150000000
gdYH Ho eoàYmaU
H$ g
eoàYma H Hm Zm_
^maV gaH$ma
^maV go Zm_m{H$V
Hw$b
df Ho ma^ _o eoàYmaU
df Ho AV _o eoàYmaU
Hwb eoàmo
eoàmo Hs HnZs Ho Hwb _o go ~YH /
g`m eoàmo Hm % ^maJV eoàmo
Hm AZwnmV
149999970
100
ey`
Hwb eoàmo df Ho XmoamZ

eoàmo Hs HnZs Ho Hwb _o go ~YH / Am[Yn` eoà
g`m eoàmo Hm % ^maJV eoàm|
Hm n[adVZ
Hm AZwnmV
AZwnmV
149999970
100
ey` No Change
30
ey`
30
ey`
No Change
150000000
100
ey`
150000000
100
ey`
No change
(iii) gdYH$m| Ho$ eoà YmaU | n[adVZ (`{X H$moB n[adVZ Zht h, Vmo H$n`m ~VmE)
H$ g
df Ho$ Ama^ | eoà YmaU
df Ho$ XmamZ gM`r eoà YmaU
eoàm| H$s g H$nZr Ho$ Hw$b eoàm| H$m%

df Ho Ama^ _o
df Ho$ XmamZ gdYH$m| Ho$
eoà YmaU | B d{ /
H$r H$m {ddaU Ama d{
/ H$r Ho$ H$maUm| (Ogo
Am~Q>Z / WmZmVaU
/ ~moZg / doQ> B{$Q>r
Am{X) H$mo gy{MV H$a|
df Ho$ AV |
150000000
100 150000000
ey`
ey`
150000000
100 150000000
92
100
ey`
ey`
100
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Sub-total (B)(2):-
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Total Public Shareholding

(B)=(B)(1)+(B)(2)
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
C. Shares held by
Custodian for GDRs &
ADRs
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Grand Total (A+B+C)
Nil 150000000 150000000
100
ii) Individual shareholders

holding nominal share
capital in excess of ` 1
lakh
i) Individual
shareholders holding
nominal share capital
upto Rs. 1 lakh
c) Others (specify)
Sl No.
Shareholding of Promoters
Shareholders Name
1 Government of India
2 Nominees of India
3 Total
(iii)
100 No Change
Shareholding at the beginning of the year
Shareholding at the end of the year
No. of
Shares
% of total
shares
of the
Company
% of Shares
Pledged/
encumbered
to total
shares
No of
Shares
149999970
100
Nil
149999970
100
Nil
No Change
30
Nil
30
Nil
No Change
150000000
100
Nil
150000000
100
Nil
No change
% of total
% of Shares
Shares
Pledged/
of the encumbered
company to total shares
% change
in share
holding
during the
year
Change in Promoters Shareholding (Please specify, if there is no change)
Sl No

No. of shares
At the beginning of the year
150000000
Date wise Increase /

Decrease in Promoters
Share holding during
the year specifying the
reasons for increase/
decrease (e.g. allotment
/ transfer / bonus /
sweat equity etc):
NIL
At the End of the year
Cumulative Shareholding during the year
% of total shares of the

company
No. of shares
100 150000000
Nil
150000000
100 150000000
93

company
100
Nil
Nil
100
(ii)
Nil 150000000 150000000
(iv) gdm} Xg eoàYmaH$m| Ho$ eoà YmaU ({ZXoeH$, gdYH$m| Ama Or S>r Ama Ama E S>r Ama YmaH$m| H$mo
N>moS>H$a):
H$ g

gdm} 10 eoàYmaH$m| go
òH$ Ho$ {bE
df Ho$ Ama^ |
df Ho$ XmamZ gdYH$m| Ho$
eoà YmaU | B d{ /
H$r H$m {ddaU Ama d{
/ H$r Ho$ H$maUm| (Ogo
Am~Q>Z / WmZmVaU
/ ~moZg / doQ> B{$Q>r
Am{X) H$mo gy{MV H$a|
df Ho$ AV | (`m AbJmd
H$s {V{W na, `{X df Ho$
XmamZ AbJ hmo Vmo)
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
5 {ZXoeH$m| Ed w` ~YH$s` H$m{H$m| Ho$ eoà YmaU:
H$ g

òH$ {ZXoeH$ Ed w`
~YH$s` H$m{H$m|
(Ho$ E nr) Ho$ {bò
df Ho$ ma^ | (^maV
gaH$ma Ho$ ZmoZrV Ho$
$n |)
df Ho$ XmamZ gdYH$m|
Ho$ eoà YmaU | B
d{ / H$r H$m {ddaU
Ama d{ / H$r Ho$
H$maUm| (Ogo Am~Q>Z /
WmZmVaU / ~moZg /
doQ> B{$Q>r Am{X) H$mo
gy{MV H$a|
df Ho$ AV |
94
Sl No

No. of shares

company
No. of shares

company
Nil
Nil
Nil
Nil
Date wise Increase/

Decrease in Share
holding during the year
specifying the reasons
for increase / decrease
(e.g. allotment / transfer
/ bonus / sweat equity
etc):
Nil
Nil
Nil
Nil
At the End of the year

( or on the date of
separation, if separated
during the year)
Nil
Nil
Nil
Nil
For each of the Top 10

Shareholders
(v)
Shareholding Pattern of top ten Shareholders (other than Directors,

Promoters and Holders of GDRs and ADRs):
Shareholding of Directors and key Managerial Personnel:
Sl No.

For Each of the
Directors and KMP
No. of shares

company
No. of shares

company
At the beginning of the year(as nominees of GOI)
Date wise Increase

/ Decrease in Share
holding during the year
specifying the reasons
for increase / decrease
(e.g. allotment / transfer
/ bonus / sweat equity
etc):
At the end of the year
95
(iv)
5. F$U :
~H$m`m `mO/Cnm{OV bo{H$Z Xo` Zhr g{hV H$nZr H$m F$U
{dmr` Ho$ ma^ | F$U

1) yb YZ am{e
2) Xo` `mO bo{H$Z AXm Zht {H$`m J`m
3) Cnm{OV `mO bo{H$Z Xo` Zht h
Hw$b (1+2+3)
Om Ho$ Abmdm
{V^y{V F$U
ey`
A{V^y{V F$U
Om
Hw$b F$UJVVm
ey`
ey`
ey`
{dmr` Ho$ XmamZ n[ad{VV F$U

OmoS|>
H$Q>mVr
ew n[adVZ
ey`
ey`
ey`
ey`
{dmr` Ho$ AV | F$U

1) yb YZ am{e
2) Xo` `mO bo{H$Z AXm Zht {H$`m J`m
3) Cnm{OV `mO bo{H$Z Xo` Zht h
Hw$b (1+2+3)
ey`
ey`
ey`
ey`
6 {ZXoeH$m| Ed w` ~YH$s` H$m{H$m| H$m doVZ:

A. ~Y {ZXoeH$ / nyUH$m{bH$ {ZXoeH$ Ed / `m ~YH$ H$mo {Xò Jò doVZ (`.bmIm| |):
H$.g
nm[al{H$ H$m {ddaU

gH$b doVZ
A) Am`H$a A{Y{Z`, 1961 H$s Ymam
17(1) Ho$ mdYmZm| Ho$ AZwgma doVZ
1. Am)Am`H$a A{Y{Z`, 1961 H$s Ymam
17(2) Ho$ AYrZ AZwbm^
B) Am`H$a A{Y{Z`, 1961 H$s Ymam
17(3) Ho$ AYrZ doVZ Ho$ EdO | bm^
2. Q>mH$ {dH$n
~Y {ZXoeH$/ nyUH$m{bH$ {ZXoeH$ Ed ~YH$ H$m Zm

{{bX IamV
E.dr.{J{aOm
E. hmoXm
nyUH$m{bH$ {ZXoeH$
gr E S>r
H$w_ma
Hw$b am{e
30.77
27.75
25.62
84.14
ey`
1.50
1.44
2.94
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
H${eZ
bm^ H$m %
4. A`- ^maV gaH$ma Ho$ Ame` Ho$ H$WZ Ho$
AZwgma mogmhZ
ey`
ey`
ey`
ey`
5.
ey`
-1.08
-0.45
-1.53
30.77
28.17
26.61
85.55
3.
doQ> {dH$n
A`, {ddaUmZwgma
Hw$b (A)
2426.52
A{Y{Z` Ho$ AZwgma CV grm

96
INDEBTEDNESS
Indebtedness of the Company including interest outstanding/accrued but not due for payment
Secured Loans
excluding deposits
Indebtedness at the beginning of the
financial year
i) Principal Amount
ii) Interest due but not paid
iii) Interest accrued but not due
Unsecured Loans
Total
Indebtedness
Deposits
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
V.
Total (i+ii+iii)
Change in Indebtedness during the
financial year
. Addition
. Reduction
Net Change
Indebtedness at the end of the financial year
i) Principal Amount
ii) Interest due but not paid
iii) Interest accrued but not due
. Addition
Total (i+ii+iii).
REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL.
A.
Remuneration to Managing Director, Whole-time Directors and/or Manager:
Sl No.
Particulars of Remuneration
Name of MD/WTD/Manager
Milind Kharat CMD
Gross salary
(a) Salary as per provisions contained
in section 17(1) of the Income-tax Act,
1961
1.
(b) Value of perquisites u/s 17(2) Incometax Act, 1961
(c ) Profits in lieu of salary under section
17(3) Income-tax Act, 1961
(` in Lakhs)
A V Girija Kumar
WTD
Total Amount
Ariful Hoda
WTD
30.77
27.75
25.62
84.14
Nil
1.50
1.44
2.94
Nil
Nil
Nil
Nil
2. Stock Option
Nil
Nil
Nil
Nil
3. Sweat Option
Nil
Nil
Nil
Nil
Commission
- as % of profit
4.
- others Incentive as per Statement of
Intent with the GOI
Nil
Nil
Nil
Nil
5. Others, Please specify
Nil
-1.08
-0.45
-1.53
30.77
28.17
26.61
85.55
Total (A)
Ceiling as per the Act
2426.52
97
VI.
Am. A` {ZXoeH$m| H$mo doVZ

H$.g
(`. bmIm| |)
nm[al{H$ H$m {ddaU
{ZXoeH$ H$m Zm
dV {ZXoeH$ JU
{ZXoeH$ S>b / g{{V ~R>H$m| | ^mJ boZo Ho$ {bò ewH$
H${eZ
A`, {ddaUmZwgma
Hw$b (1)
A` Ja-H$m`H$mar {ZXoeH$ JU
{ZXoeH$ S>b / g{{V ~R>H$m| | ^mJ boZo Ho$ {bò ewH$
H${eZ
A`, {ddaUmZwgma
Hw$b (2)
Hw$b (Am) (1+2)
Hw$b ~YH$s` nm[al{H$
A{Y{Z` Ho$ AZwgma gnyU C grm
Hw$b
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
B. ~Y {ZXoeH$/~YH$/ nyUH$m{bH$ {ZXoeH$ Ho$ Abmdm w` ~YH$s` H$m{H$m| H$m nm[al{H$

H$.g
nm[al{H$ H$m {ddaU

H$nZr g{Md
1.
2.
3.
4.
5.
gH$b doVZ
A) Am`H$a A{Y{Z`, 1961 H$s Ymam 17(1) Ho$ mdYmZm| Ho$ AZwgma doVZ
Am) Am`H$a A{Y{Z`, 1961 H$s Ymam 17(2) Ho$ AYrZ AZwbm^
B) Am`H$a A{Y{Z`, 1961 H$s Ymam 17(3) Ho$ AYrZ doVZ Ho$ EdO
| bm^
Q>mH$ {dH$n
doQ> {dH$n
H${eZ
bm^ H$m %
A` {ddaUmZwgma
A` - Kmo{fV A` Am`
Hw$b
2426.52
(`. bmIm| |)
wI ~YH$s` H$m{H$
gr E$ Amo
Hw$b
20.90
27.67
48.57
1.39
0.27
1.66
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
0.76
23.05
Nil
27.94
0.76
50.99
XS>/ gOm/AnamY H$m gmYmZ

H$ma
XS>
gOm
gmYmZ
B.
ey`
H$nZr A{Y{Z` H$s

Ymam
ey`
ey`
ey`
bJm`m J`m XS>/gOm/

m{YH$mar (Ama.S>r/
Xmà Anrb, `{X
AnamY H$s eV H$m {ddaU EZ.Eb.gr.Q>r/`m`b`)
H$moB hmo
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
g{j {ddaU
[S \>mQ f _| A` ApYH mar
XS>
gOm
gmYmZ
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
98
ey`
ey`
ey`
ey`
ey`
ey`
Sl
(` in Lakhs)
C.
Name of MD/WTD/
Total Amount
1. Independent Directors
l Fee for attending board / committee Meetings
l Commission
l Others, please specify
Nil
Nil
Nil
Nil
Total (1)
Nil
Nil
Nil
Nil
2. Other Non-Executive Directors Fee for attending board /

committee Meetings
l Commissions
l Others, please specify
Nil
Nil
Nil
Nil
Nil
Total (2)
Nil
Nil
Nil
Nil
Nil
Total (B) = (1+2)
Nil
Nil
Nil
Nil
Nil
Total Managerial Remuneration
Nil
Nil
Nil
Nil
Nil
Overall Ceiling as per the Act
Nil
Nil
Nil
Nil
2426.52
REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD:
Sl No
Nil
(` in Lakhs)
Key Managerial Personnel

Company Secretary
Gross salary
(a) Salary as per provisions Contained in section 17(1) of
The Income-tax Act, 1961
1.
(b) Value of perquisites u/s 7(2) Income-tax Act, 1961
(c) Profits in lieu of salary
Under section 17(3) Income-tax Act, 1961
CFO
Total
20.90
27.67
48.57
1.39
0.27
1.66
Nil
Nil
2. Stock Option
Nil
NIl
NIl
3. Sweat Equity
Nil
Nil
Nil
Commission
4. - as % of profit
- others, specify
Nil
Nil
Nil
Nil
Nil
Nil
0.76
Nil
0.76
23.05
27.94
50.99
5. Others Declared other Income

Total
VII.
PENALTIES/PUNISHMENT/COMPOUNDING OF OFFENCES:
Type
Details of Penalty/
Brief Description Punishment/ Compounding
fees Imposed
Section of the
Companies Act
Authority [RD / NCLT

/ COURT]
Appeal made, if
any (give details)
Penalty
Nil
Nil
Nil
Nil
Nil
Punishment
Nil
Nil
Nil
Nil
Nil
Compounding
Nil
Nil
Nil
Nil
Nil
C.
Remuneration to other directors:
OTHER OFFICERS IN DEFAULT
Penalty
Nil
Nil
Nil
Nil
Nil
Punishment
Nil
Nil
Nil
Nil
Nil
Compounding
Nil
Nil
Nil
Nil
Nil
99
B.
Annexure 2
g{Mdmb`r boI narjm {VdoXZ

Annexure B to Boards Report
g{Mdmb`r boIm narjm {VdoXZ

{dmr` df H$s gm{ 31 mM 2016
(H$nZr A{Y{Z` 2013 H$s Ymam 204(1) Ed H$nZr ({Z`w{$ d H$m{H$ doVZ)
{Z`, 2014 Ho$ {Z` 9 Ho$ AZwgaU |)
{V
gX`
`wZmBQ>oS> B{S>`m B`yaog H$nZr {b{Q>oS>,
(C) gmZ nm[al{H$ A{Y{Z` 1976 Ed gmZ nm[al{H$

{Z`, 1976.
(D) H$m`Wb na {hbmAm| Ho$ `mZ CnrS>Z(amoH$Wm, {ZfoY Ama
{ZdmaU) A{Y{Z`2013
(G) ~rm {d{Z`mH$ Ama {dH$mg m{YH$aU A{Y{Z`, 1999
(E) Ammo{JH$ {ddmX (~qH$J Ama ~rm H$n{Z`m|) A{Y{Z`.
1949
(Eo) gwr ~rm A{Y{Z` 1963
AmJo EH$ Ja-gyMr~ H$nZr hmoZo Ho$ H$maU , ^maVr` {V^y{V Ed
{d{Z` A{Y{Z`, 1992, {V^y{V g{dXm Ho$ ~moS> ({d{Z`Z)
A{Y{Z` 1956 Ama S>onm{gQ>[ag A{Y{Z` 1996 Ho$ VhV {ZYm[aV
{Z`m| Ama {Xem {ZX}em| H$nZr na bmJy Zht h&
hZo {ZZ{bpIV Ho$ {bE bmJy YmamAm| Ho$ AZwnmbZ H$s OmM H$s h
(i) ^maVr` H$nZr g{Md gWmZ mam Omar {H$E JE
g{Mdmb`r mZH$m|
grjmYrZ Ad{Y Ho$ XmamZ H$nZr mam gV A{Y{Z`m|
Ho$ mdYmZm|, {Z`m|, {d{Z`m|, {Xem{ZX}em|, mZH$m| B`m{X
H$m AZwnmbZ {H$`m J`m h, {ZZ{bpIV hX VH$ H$mo
N>moS>H$a:
1. H$nZr gmdO{ZH$ jo H$s ~rm H$nZr hmoZo Ho$ H$maU {O~Zm
A{Y{Z` mam {Z`{V h, AV: H$nZr Ho$ {ZXoeH$m| g{hV gV
A{YH$m[a`m| Ed H$Mm[a`m| H$s {Z`w{$ {O~Zm VWm AV{Z`mdbr
Ho$ AZwgma Ho$ gaH$ma mam H$s OmVr h&
{ZXoeH$ S>b | dV {ZXoeH$ H$m nX [a$ Wm&H$nZr A{Y{Z`
2013 H$s AZwgyMr iv Ho$ gmW n{R>V Ymam 149 (4) Ho$ VhV
{d{YdV boIm narjm Ad{Y Ho$ XmamZ H|$ gaH$ma mam Zht âm
J`m &
hZo `wZmBQ>oS> B{S>`m B`yaog H$nZr {b{Q>oS> (~mX | H$nZr H$hm OmVm
h), mam gw{MV {ZJr` WmAm| Ho$ AZwnmbZ Ama bmJy gdYm{ZH$
mdYmZm| H$m AZwdVu AZwnmbZ H$s g{Mdmb`rZ boIm narjm H$s h&
{ZJr` H$m` gMmbZ/gdYm{ZH$ AZwnmbZ Ho$ y`mH$Z H$aZo Ho$ {bE
C{MV AmYma XmZ {H$`m J`m , CgHo$ AmYma na g{Mdmb`rZ boIm
narjm H$s J`r h Ama AnZo {dMma `$ {H$`m h&
g{Mdmb`r boIm narjm Ho$ XmamZ H$nZr Ho$ ~hr ImVm|, XVmdoOm|,
H$m`dm A{^boIm|, $mBb {H$ò Jò nm| d {ddaUr, Ed H$nZr mam
aIaImd {H$ò OmZodmbo A{^boIm| VWm H$nZr, H$nZr Ho$ A{YH$m[a`m|,
A{^H$VmAm| d m{YH$V {V{Z{Y`m| mam Xr JB gyMZmAm| Ho$ AmYma na
h {VdoXZ H$aVo h {H$ AnZr am` | {dmr` df 2015 - 16 H$mo
Amd[aV H$aZodmbr boIm narjm H$s Ad{Y Ho$ XmamZ H$nZr mam {ZZ
C{pIV gdYm{ZH$ mdYmZm| H$m AZwnmbZ {H$`m h Ama gmW hr H$nZr
Ho$ nmg C{MV {ZXoeH$ S>b {H$`m`| d AZwnmbZ H$m`{d{Y`m CnbY
h Ama BgHo$ ~mX Ho$ {VdoXZ Ho$ AYrZ hmo&
hZo 31 mM 2016 H$mo gm {dmr` df Ho$ {bE {ZZ mdYmZm| Ho$
AZwgma H$nZr Ho$ boImAmo, XVmdoOm|, H$m`dm, nm| d $mBb {H$ò Jò
{ddaU, Ed H$nZr mam aImd {H$ò OmZodmbo A{^boIm| H$s OmM H$s h&
(1) H$nZr A{Y{Z` 2013 (A{Y{Z`) d CgHo$ VhV ~Zmò
Jò {Z` d {d{Z`
(2) {dXoer {d{Z` ~YZ A{Y{Z` 1999 d {dXoem| | `j
{dXoer {Zdoe Ho$ AYrZ ~Zmò Jò {Z` d {d{Z`
(3) A` bmJy A{Y{Z`
(A) gmYmaU ~rm `dgm`(am>r`H$aU) A{Y{Z` 1972
({O~Zm)
(Am) ~rm A{Y{Z` 1938 d CgHo$ {Z` Ed A{Y{Z`
(B) (S>) mVd bm^ A{Y{Z` 1961 Ed V{bZmSw> mVd
bm^ {Z` 1967
(B) amoOJma H$m`mb` ([a{$ H$s A{Zdm` A{YgyMZm) A{Y{Z`&
100
Secretarial Audit Report and observations

Annexure B to Boards Report
SECRETARIAL AUDIT REPORT
For The Financial Year Ended On 31st March, 2016
(Pursuant to section 204(1) of the Companies Act, 2013 and Rule No. 9 of
the Companies (Appointment and Remuneration Personnel) Rules, 2014)
Annexure 2
To,
The Members,
United India Insurance Company Limited
We have conducted the secretarial audit of the compliance of
applicable statutory provisions and the adherence to good corporate
practices by United India Insurance Company Limited (hereinafter
called the company). Secretarial Audit was conducted in a manner
that provided us a reasonable basis for evaluating the corporate
conducts/statutory compliances and expressing our opinion thereon.
e. Equal Remuneration Act,1976 and Equal Remuneration

Rules, 1976.
Based on our verification of the Company books, papers, minute books,

forms and returns filed and other records maintained by the company
and also the information provided by the Company, its officers, agents
and authorized representatives during the conduct of secretarial audit,
we hereby report that in our opinion, the company has, during the
audit period covering the financial year 2015-2016, complied with the
statutory provisions listed hereunder and also that the Company has
proper Board-processes and compliance mechanism in place to the
extent, in the manner and subject to the reporting made hereinafter:
h. Industrial Disputes (Banking and Insurance Companies)

Act 1949
f. Sexual Harassment of Women at Workplace

(Prevention, Prohibition and Redressal) Act, 2013.
g. Insurance Regulatory and Development Authority Act
1999
i. Marine Insurance Act 1963

Further being an Unlisted Company, the regulations and guidelines
prescribed under the Securities and Exchange Board of India Act,
1992, The Securities Contracts (Regulation) Act, 1956 and The
Depositories Act, 1996 are not applicable on the Company.
During the period under review the Company has

complied with the provisions of the Act, Rules,
Regulations, Guidelines, Standards, etc. mentioned
above except to the extent as mentioned below:
(ii) Foreign Exchange Management Act, 1999 and the

Rules and Regulations made there under to the extent
of Overseas Direct Investment;
1. As the Company is a Public Sector Insurance Company

it is governed by the GIBNA Act, so the appointment of
all officers and employees of the Company which
include its Director are undertaken by the Central
Government only as per GIBNA and the Article of
Association.
(iii) Other applicable acts,

a. General Insurance Business (nationalisation) Act 1972
(GIBNA)
b. Insurance Act 1938 and its Rules & Regulation.
c. The Maternity Benefit Act, 1961 and The Tamil Nadu
Maternity Benefit Rules, 1967.
There was a vacancy in the Board in place of the

Independent Director which was not duly filled in by
the Central Government during the audit period as
required under section 149(4) read with schedule IV of
d. Employment Exchange (Compulsory Notification of

Vacancy) Act.
101
We have also examined compliance with the applicable clauses of

the following:
(i) Secretarial Standards issued by the Institute of
Company Secretaries of India.
We have examined the books, papers, minute books, forms and returns
filed and other records maintained by the Company for the financial
year ended on 31st March, 2016 according to the provisions of:
(i) The Companies Act, 2013 (the Act) and the Rules
made there under;
J`r h My{H CZHr g_rjm gm[d{YH [dmr` boIm narjm Ama A` Zm{_V
nomodam| mam Hr J`r&
AmJo dV {ZXoeH$ Ho$ nX H$s [a{$ Ho$ H$maU H$nZr H$s boIm
narjm g{{V H$nZr A{Y{Z` 2013 H$s Ymam 177 Ho$ mdYmZm|
Ho$ AZwgma {d{YdV J{R>V Zht {H$`m J`m Wm&
AmBAmaS>rE A{Y{Z`, {Z`m|, BgHo$ VhV Omar {Xem {ZX}em| Ho$
VhV ~s_m [d[Z`m_H Ama [dHmg m[YHaU H$s {ZYm[aV nm|
Xmà H$aZo | Xoar H$s KQ>ZmE Wr
H$nZr Zo ^maV go ~mha Ho$ nmM H$n{Z`m| | {Zdoe {H$`m h&hmbm{H$
$m Amo S>r AmB ^mJ III | Xmà dm{fH$ {ZnmXZ [anmoQ> EH$
H$nZr Ho$ gmW {H$ò Jò {Zdoe Ho$ g~Y | h& AmJo dm{fH$
{ZnmXZ [anmoQ> {dbp~V Xmà H$s JB h&
~s_m [d[Z`m_H Ama [dHmg m[YHaU m{YH$aU mam AJV
2014 | {H$E JE {ZarjU Ho$ AmYma na EH$ emoH$mg Zmo{Q>g
Omar {H$`m h Ama ~s_m [d[Z`m_H Ama [dHmg m[YHaU {d{Z`m|
/ gyMZmE / {Xem{ZX}em| Ho$ Ja AZwnmbZ Ho$ {bE 60 bmI nE
H$m OwmZm bJm&
amoOJma EgM|O ([a{$ H$s A{Zdm` A{YgyMZm) A{Y{Z` Ama
V{bZmSw> l H$`mU {Z{Y A{Y{Z` Ho$ VhV dm{fH$ [aQ>Z
XmpIb H$aZo | Xoar H$s KQ>ZmE Wo&
h AmJo {VdoXZ H$aVo h {H$:

C$J q~Xw g`m-1| C{pIV H$r H$mo N>moS>H$a, H$nZr Ho$ {ZXoeH$
S>b {d{YdV H$m`H$mar {ZXoeH$, Ja-H$m`H$mar {ZXoeH$m| Ama dV
{ZXoeH$m| H$s C{MV gVwbZ Ho$ gmW J{R>V H$s h& grjmYrZ Ad{Y Ho$
XmamZ {ZXoeH$ S>b H$s gaMZm | hE n[adVZ A{Y{Z` Ho$ mdYmZm|
Ho$ AZwnmbZ | {H$E JE&
gV {ZXoeH$m| H$mo {ZXoeH$ S>b H$s ~R>H$ g~Yr gyMZm n`m g`
nyd Xr JB h, H$m`gyMr d H$m`gyMr na {dVV ZmoQ> gmV {XZm| A{J
| o{fV H$s JB h Ama ~R>H$ | gmWH$ ^mJrXmar Ho$ {bE Ama ~R>H$ go
nhbo H$m`gyMr {df`m| na A{YH$ OmZH$marAma n>rH$aU mJZo Ama m
H$aZo Ho$ {bE H$m` Umbr H$s `dWm h& A`j gh ~Y {ZXoeH$ mam
{d{YdV hVmj[aV ~R>H$ Ho$ H$m`dm Ho$ AZwgma, {ZXoeH$ S>b Ho$ {ZU`
gdgV Wo Ama H$moB Agh{V Ho$ {dMma XO {H$`m J`m h&
h AmJo {VdoXZ H$aVo h {H$ bmJy H$mZyZm|, {Z`m|, {d{Z`m| Ama {Xem
{ZX}em| H$s {ZJamZr Ama AZwnmbZ gw{Z{V H$aZo Ho$ {bE AnZo AmH$ma
Ama MmbZ Ho$ AZw$n H$nZr | n`m Um{b`m Ama {H$`m`| CnbY
h &
h AmJo {VdoXZ H$aVo h {H$ boIm narjm Ad{Y | Eogr H$moB {deof KQ>Zm/
H$m` H$s KQ>Zm Zht hB h Omo Cnamo$ C{pIV H$mZyZ, {Z`, {d{Z`,
{Xem{ZX}em|, mZH$m| Am{X Ho$ AZwgaU | H$nZr Ho$ H$m`m na {H$gr H$ma
H$m Aga S>mbVm hmo&
h AmJo {VdoXZ H$aVo h {H$ gmm` H$mZyZ, {VnYm H$mZyZ, Ama

n`mdaU H$mZyZm| g{hV bmJy H$mZyZm| H$s {ZJamZr Ama AZwnmbZ gw{Z{V
H$aZo Ho$ {bE AnZo AmH$ma Ama MmbZ Ho$ AZw$n H$nZr | n`m
Um{b`m Ama {H$`m`| CnbY ho & hmbm{H$ l H$mZyZ AZwnmbZ |
Hw$N> AVZ H$aZo H$s Anojm h&
h AmJo {VdoXZ H$aVo h {H$ Bg boIm narjm _| H nZr mam bmJy [dmr`
[d{Y Ogo `j Ama namoj H a [d{Y Ho AZwnmbZ Hr g_rjm Zht Hr
H$Vo br gw~{U`Z ES> Egmo{gEQg
WmZ:
{XZmH$:
oVm gw~{U`Z
EgrEg 33222
gr.nr.g.12512
Mo
30 Ab 2016
102
finance laws like Direct and Indirect tax laws has not been reviewed
in this audit since the same have been subject to review by Statutory
Financial Audit and other designated professionals.
2. There were instances of delay in filing prescribed

forms to IRDA under IRDA Act, Regulation, Guidelines
issued thereunder.
The Board of Directors of the Company is duly constituted with

proper balance of Executive Directors, Non-Executive Directors
and Independent Directors except the qualification made above in
the point Number 1. The changes in the composition of the Board
of Directors that took place during the period under review were
carried out in compliance with the provisions of the Act.
We further report that:
3. The Company has made investments outside India in

Five Companies, however, the Annual Performance
report (APR) filed in Form ODI Part III has been done
only with respect to investment in one company.
Further the APR has been filed belatedly.
Adequate notice is given to all directors to schedule the Board

Meetings, agenda and detailed notes on agenda were sent at least
seven days in advance, and a system exists for seeking and obtaining
further information and clarifications on the agenda items before the
meeting and for meaningful participation at the meeting. As per the
minutes of the meeting duly recorded and signed by the Chairman,
the decisions of the Board were unanimous and no dissenting views
have been recorded.
4. IRDA has issued a show cause notice in August of

2014 based on inspection conducted by the authority
levying penalty of ` 60 lakhs for non-compliances with
certain IRDA Regulations/ Notifications/ Guidelines.
5. There were instances of delays in filing Annual Returns
under Employment Exchange (Compulsory Notification
of Vacancy) Act and the Tamil Nadu Labour Welfare
Fund Act.
We further report that there are adequate systems and processes

in the company commensurate with the size and operations of the
company to monitor and ensure compliance with applicable laws,
rules, regulations and guidelines.
We further report that there were adequate systems and processes

in the company commensurate with its size and operation to monitor
and ensure compliance with applicable laws including general laws,
competition law, and environmental laws, however a few updation
are required to the labour law compliances.
For Lakshmmi Subramanian & Associates
Swetha Subramanian
ACS: 33222
CP No: 12512
Chennai
30th April 2016
103
We further report that during the audit period the company

has no specific events / actions having a major bearing on the
companys affairs in pursuance of the above referred laws,rules,
regulations, guidelines, standards, etc. referred to above.
We further report that, the compliance by the Company of applicable
Place:
Date:
the Companies Act, 2013. Further the audit committee

of the Company was not duly constituted as per the
provisions of section 177 of the Companies Act, 2013
due to the aforesaid vacancy in the position of
Independent Director.
AZw~Y E
(31 mM 2016 H$mo gm {dmr` df Ho$ {bE `wZmBQ>oS> B{S>`m B`yaog
H$nZr {b{Q>oS> H$s g{Mdmb`r boIm narjm {VdoXZ H$m )
{V gX`
`wZmBQ>oS> B{S>`m B`yaog H$nZr {b{Q>oS>,
31 mM 2016 H$mo gm {dmr` df H$s g{Mdmb`r boIm narjm
{VdoXZ H$mo Bg AZw~Y ~r Ho$ gmW nT>m`m OmE.
1.
2.
3.
4.
g{Mdmb`r A{^boIm| H$m aIaImd H$aZm H$nZr Ho$ ~YZ H$s

{OoXmar h& hmar boIm narjm Ho$ AmYma na BZ g{Mdmb`r
[aH$mS> na AnZm V H$Q> H$aZm hmar {OoXmar h&
hZo g{Mdmb`r Ho$ [aH$mS> Ho$ {df` H$s g`Vm Ho$ ~mao | C{MV
AmmgZ m H$aZo Ho$ {bE Cn`w$ boImnarjm WmAm| Ama
{H$`mAm| H$m nmbZ {H$`m h& g{Mdmb`r A{^boIm| | ghr V`m|
H$mo n[ab{jV gw{Z{VVm Ho$ Co` go narjU Ho$ AmYma na OmM
{H$`m J`m& hmao mam AnZm`r J`r {H$`mAm| Ama WmAm| hmar
am` Ho$ {bE EH$ C{MV ~w{Z`mXr XmZ H$aVr h&
hZo H$nZr Ho$ {dmr` A{^boIm| Ed boIm ImVm| H$s gp`Vm VWm
Cn`w$Vm H$s g`m{nV Zht {H$`m h &
5.
6.
Ohm Anojm hmo, hZo AZwnmbZ Ama H$mZyZ, {Z`, {d{Z` Ed

KQ>ZmAm| Am{X Ho$ g~Y | ~YZ go {VdoXZ m {H$`m h&
{ZJr` Ed A` bmJy H$mZyZ, {Z`, {d{Z`, mZH$m| Ho$ mdYmZm|
H$m AZwnmbZ H$m Xm{`d H$nZr ~YZ H$m h& hmar OmM narjU
Ho$ AmYma na Ho$db {H$`mAm| Ho$ g`mnZ VH$ hr gr{V h&
{ZJr` boIm narjm {VdoXZ Z hr H$nZr H$s ^{d` H$s
`dhm`Vm H$mo AmV H$aVm h Ama Z hr H$nZr Ho$ mbm| Ho$
{V ^mdembr ~YZ H$mo XemVm h&
H$Vo br gw~{U`Z ES> Egmo{gEQg

Mo
30 Ab 2016
oVm gw~{U`Z
EgrEg 33222
gr.nr.g.12512
WmZ:
{XZmH$:
104
To,
The Members,
United India Insurance Company Limited
Annexure A
(To the Secretarial Audit Report of M/s. United India Insurance Company Ltd
for the financial year ended 31.03.2016)
Our Secretarial Audit Report for the financial year ended 31.3.2016
is to be read along with this Annexure B.
1. Maintenance of Secretarial record is the responsibility of
the management of the Company. Our responsibility is to
express an opinion on these secretarial records based on
our audit.
4. Where ever required, we have obtained the Management

representation about the compliance and law, rules and
regulation and happening of events etc.
5. The compliance of the provisions of Corporate and other
applicable laws, rules, regulation, standards is the
responsibility of the management. Our examination was
limited to the verification of procedure on test basic.
2. We have followed the audit practices and the processes

as were appropriate to obtain reasonable assurance
about the correctness of the contents of the secretarial
records. The verification was done on test basic to ensure
that correct facts are reflected in secretarial records. We
believe that the processes and practices we followed
provide a reasonable basic for our opinion.
6. The Secretarial Audit report is neither an assurance as to

the future viability of the Company nor of the effectiveness
with which the management has conducted the affairs of
the Company.
3. We have not verified the correctness and appropriateness

of financial records and Books of Accounts of the
Company.
Place:
Date:
Chennai
30th April 2016
Swetha Subramanian
ACS: 33222
CP No: 12512
105
For Lakshmmi Subramanian & Associates
OmZHmas mV HaZo _o Am ahs H[RZmB`mo Ho HmaU [Z`m_H Hmo VwV

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Ama [dHmg nm[YHaU [d[Z`_mo / gyMZmE / [Xem[ZXoemo Ho Ja AZwnmbZ
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[ZXoeHmo Hs [Z`w[m C[MV [H`m Ho _m`_ go Hs OmVs h &df Ho XmamZ
gaHma Zo EH [ZXoeH [Z`wm [H`m h Ama [a[m`mo Hm `mam _mb` Hmo
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gyMZm Xs J`s Ama Ow_mZm m[YHmas Hmo ^wJVmZ [H`m J`m Wm & gwYmam_H
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amoOJma Hm`mb` Hmo gyMZm [d[YdV ôO [X`m J`m h hmbm[H Amd`H
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WmZ : Mom
[XZmH :13 _B 2016
(hV) [_qbX IamV

[ZXoeH _Sb Hs Va\ go
Aj gh ~Y [ZXoeH
106
were certain difficulties faced in obtaining necessary information

from the operating offices which had caused some delay in
collating and compiling the data for submission to the Regulator.
The Management has carved out a separate department with
a Deputy General Manager overseeing the function, the delays
would be minimized and timely submission would be ensured.
The Secretarial audit as envisaged under the Companies Act 2013

covers verification of compliance with the applicable laws and the
auditors have made few observations. The directors wish to place on
record the following with respect to the observations.
3. The Company has made investments outside India in Five

Companies, however, the Annual Performance report (APR) filed in
Form ODI Part III has been done only with respect to investment in
one company. Further the APR has been filed belatedly.
1. As the Company is a Public Sector Insurance Company it is

governed by the GIBNA Act, so the appointment of all officers
and employees of the Company which include its Director are
undertaken by the Central Government only as per GIBNA and
the Article of Association.
The APR for the investment made in the recent past were filed
with the Authorised Dealer. However, the delay in filing of the APR
would be addressed appropriately and timely submission would be
ensured. With respect to the other investments which are legacy
investments relate to the period prior to Nationalisation of the
Insurance Companies, we would ascertain the position with the
Regulator and APRs, if any would be filed with the Regulator.
There was a vacancy in the Board in place of the Independent

Director which was not duly filled in by the Central Government
during the audit period as required under section 149(4) read
with schedule IV of the Companies Act, 2013. Further the audit
committee of the Company was not duly constituted as per the
provisions of section 177 of the Companies Act, 2013 due to the
aforesaid vacancy in the position of Independent Director.
4. IRDA has issued a show cause notice in August of 2014

based on inspection conducted by the authority levying penalty
of Rs.60 lakhs for non-compliances with certain IRDA
Regulations/ Notifications/ Guidelines.
As stated in the observation, being a company wholly held by the

Government of India and also governed by the GIBNA 1972 the
directors including independent directors are appointed by the
Central Government after going through due process. During the
year, the Government appointed one director and the details of
vacancies have been intimated to the Ministry and we await further
appointment of independent directors by the Government in order
to comply with the provisions of Section 177 of the Companies
Act, 2013. However, it may be noted that the Audit Committee
was reconstituted with one Independent Director immediately on
appointment.
The IRDA had issued a show cause notice on the basis of the
inspection conducted in 2012 and the same was duly reported to
the Board and the penalty had been paid to the Authority. Remedial
measures had been taken up and are being implemented and
reviewed periodically in order to ensure that the errors do not recur.
The information is also provided as part of the Notes forming part of
the Accounts as required under the Regulations.
Employment Exchange (Compulsory Notification of Vacancy)

Act and the Tamil Nadu Labour Welfare Fund Act.
IRDA under IRDA Act, Regulation, Guidelines issued thereunder.
The information to the Employment exchange had been duly

sent, however, steps would be taken to file necessary formats, if
applicable.
With the vast network of offices and integration of offices

through the Core Insurance Solutions were in progress, there
Chennai
13th May 2016
(Sd) Milind Kharat

By order of the Board
107
5. There were instances of delays in filing Annual Returns under
2. There were instances of delay in filing prescribed forms to
Place:
Date:
REPLY TO OBSERVATIONS IN THE SECRETARIAL

AUDITORS REPORT COVERING THE FINANCIAL YEAR
2015-16 FORMING PART OF THE DIRECTORS REPORT
AZw~Y 3
{ZJr` gmm{OH$ Xm{`d J{V{d{Y`m| H$s dm{fH$ [anmoQ>
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4. {ZJr` gmm{OH$ Xm{`d (grEgAma) `` H$m {VeV (IS> 3
gmm{OH$ Xm{`d (grEgAma) Zr{V Ama n[a`moOZmAm| `m

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| Xem`r J`r am{e H$m Xmo {VeV)

`
418.64 H$amoS> Ho$ 2% ` 8.37 H$amoS> h& df 2014-15 Ho$

XmamZ A`{`V ` 6.99 H$amoS > H$mo ImVo | boZo Ho$ ~mX, 2015-16
Ho$ {bE Hw$b grEgAma H$mof ` 15.36 H$amoS> nò Wm&
H$mnm}aoQ> mbm| Ho$ mb` mam A{Ygy{MVmZwgma H$nZr A{Y{Z`

2013 H$s Ymam 135 Ho$ AZwgma 2014-15 | hmar H$nZr H$s
grEgAma Zr{V, AZwmo{XV {H$`m J`m Wm &
5. 2015 16 {dmr` df | {ZJr` gmm{OH$ Xm{`d (grEgAma)
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(Am) A`{`V am{e, `{X H$moB hmo - ` 9,99,79,200
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III | h
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H$aZo Ho$ {bE Hw$N> n[a`moOZmAm| H$s nhMmZ H$a gHo$& 201617 df Ho$ XmamZ EH$ H$m` `moOZm V`ma H$s J`r h Omo Cn`w$
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OmEJm&.
hmar H$nZr H$s {ZJr` gmm{OH$ Xm{`d (grEgAma Zr{V {XE

JE qbH$ na H$nZr Ho$ do~gmBQ> na CnbY h)
https://uiic.co.in/sites/default/files/uploads/promtionroster/CSR-Policy2014-15.pdf
2. {ZJr` gmm{OH$ Xm{`d (grEgAma) g{{V H$s gaMZm
{ZJr` gmm{OH$ Xm{`d (grEgAma) H$s g{{V | {ZZ {ZXoeH$

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(grEgAma) Ho$ Co`m| Ama Zr{V Ho$ AZwnmbZ | h
lr E dr {J[aOmHw$ma gX`
lrVr qgYw {nJ gX`

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`.
{ZXoeH$ S>b H$s {ZJr` gmm{OH$ Xm{`d (grEgAma) g{{V

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Zr{V`m| H$s {ZJamZr d {H$`md`Z H$m Xm{`d H$nZr Ho$ {ZJr`
gmm{OH$ Xm{`d (grEgAma) g{{V H$m h Ama `h nw{> ^r H$aVr
h {H$ {ZJr` gmm{OH$ Xm{`d (grEgAma) Ho$ AYrZ H$m`mZd`Z
H$s J`r `moOZm`|, H$nZr Ho$ {ZJr` gmm{OH$ Xm{`d (grEgAma)
Co`m| d Zr{V`m| Ho$ AZwnmbZ | h &
418. 64 H$amoS>
108
CSR ANNUAL REPORT
1. A brief outline of the companys CSR policy, including

overview of projects or programs proposed to be undertaken
and a reference to the web-link to the CSR policy and projects
or programs.
4. Prescribed CSR Expenditure (two percent of the amount as in

item 3 above)
2% of ` 418.64 crores is ` 8.37 crores. After taking into account
` 6.99 crores unspent during 2014-15, the total CSR corpus was
` 15.36 crores for 2015-16.
Our Companys CSR Policy was approved in 2014-15 as per section 135
of the Companies Act, 2013, as notified by the Ministry of Corporate
Affairs. Our Company has undertaken initiatives like Rural Infrastructure
Development Programme, Insurance Literacy Programme, etc. to
provide infrastructure to the needy schools and villages in rural areas
and spread Insurance awareness amongst the people.
Annexure 3
5. Details of CSR spent during the financial year 2015-16:

a) Total amount to be spent for the financial year - `15.36 crores
b) Amount unspent, if any - ` 9,99,79,200
c) Manner in which the amount spent during the financial year is
detailed below- Annexure III
Our Companys CSR Policy is available on our Companys official website

at the following link:
6. In case the company has failed to spend the two per cent of
the average net profit of the last three financial years or any
part thereof, the company shall provide the reasons for not
spending the amount in its Board report.
https://uiic.co.in/sites/default/files/uploads/promotionroster/CSRPolicy2014-15.pdf
2. The Composition of the CSR Committee.
We could identify few projects for implementing CSR initiatives in this

financial year. For 2016-17, an action plan has been drawn up which
will be implemented if suitable projects are identified.
The CSR Committee comprises of the following directors:

Shri Milind Kharat- Chairman cum Managing Director
7. A responsibility statement of the CSR Committee that

the implementation and monitoring of CSR Policy, is in
compliance with CSR objectives and Policy of the company.
Shri Alok Tandon- Member

Shri Kishore Kumar Sansi- Member
Shri A V Girija Kumar - Member
The CSR Committee of the Board affirms that the implementation and
monitoring of the CSR Policy is the responsibility of the CSR Committee
and confirms that the initiatives implemented by the Company are in
compliance with the CSR Objectives and Policy of the Company
Smt. Sindhu Pillai- Member
3. Average net profit of the company for last three financial

years.
` 418.64 crores.
109
[ZXoeH _Sb [anmoQ 2015-16 _o gp_[bV HaZo hoVw gsEgAma J[V[d[Y`mo Hs dm[fH [anmoQ Hm mn
H$
g
grEgAma
n[a`moOZm
AWdm
J{V{dYr H$s
nhMmZ
JmrU ~w{Z`mXr
1 T>mMm {dH$mg
H$m`H$,
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2
H$m`H$
AZwgy{MV Om{V
/ AZwgy{MV
OZOm{V
Ho$ N>mm| Ho$
3 {bE ~w{Z`mXr
gw{dYmAm| H$mo
CnbY H$amZo
Ho$ {bE
10 gaH$ma
Hy$bm| |
4
emMmb`m| H$m
{Zm&
gma D$Om
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5 H$aZm
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6 {dH$mg
H$m`H$
~mT> amhV
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7
n[a`moOZm H$m
AmdaU jo
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H$m`H$,
n[a`moOZm d
n[a`moOZm dmV{dH$ `` am{e (n[a`moOZm
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n[a`moOZm
n`j
A`j
AWdm H$m`H$
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``
``
36,000,000
0
0
AZwbH$ 1
[anmo{Q>J
Ad{Y VH$
gM`r ``
`` am{e:
`j AWdm
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AZwbH$ 2
5,300,000
`j
{ejm Ama
gmm{OH$
Am{WH$ {dH$mg
Ama amhV
Ed AZwgy{MV
Om{V,
AZwgy{MV
OZOm{V Ho$
H$`mU &
{ZdmaH$
dm` Ho$a
Ama dN>Vm
H$mo ~T>mdm XoZm
n`mdaUr`
pWaVm
nm[apW{VH$
gVwbZ
gw{Z{V H$aZo,
JmrU {dH$mg
H$m`H$,
nmbHmS>,
Ho$ab
1,000,000
700,000
700,000
`j
H$mMrnwa,
V{bZmSw>
3,500,000
3,500,000
3,500,000
`j
Mo V{bZmSw>
2,262,000
1,360,000
1,360,000
`j
{dxnwa,
V{bZmSw>
5,500,000
`j
nwSw>Moar
58,800
58,800
58,800
`j
53,620,800
5,618,800
5,618,800
CybZ ^yI,
Jar~r Ama
Hw$nmofU Ama
gwa{jV noÒb
CnbY ~ZmZo
Hw b
110
CSR Project
or Activity
Identified
Rural
Infrastructure
1
Development
Programme
Sector in
which the
Project is
Covered
Projects or
Amount
Actual Amount Spent(Project
Programs (1) Outlay(Budget)
wise breakup)
Local Area
Project or
or Other (2)
Program wise
Specify the
State and
Direct
Indirect
District where
Expense
Expense
Projects or
Programs was
undertaken
Cumulative
Expenditure
upto the
reporting
Period
Amount
Spent : Direct
or Through
Implementing
Agency*
Rural
Development
Project
Annexure I
36,000,000
Direct
Education
Annexure II
5,300,000
Direct
Education
& socio
economic
development
and relief
and welfare
of Scheduled
Castes,
Scheduled
Tribes
Palakkad,
Kerala
1,000,000
700,000
700,000
Direct
Construction
Promoting
of Toilets in 10 preventive
4
Govt. Schools health care
and sanitation
Kanchipuram,
Tamil Nadu
3,500,000
3,500,000
3,500,000
Direct
Providing
Solar Energy
5 System
Ensuring
Environmental
sustainability,
ecological
balance
Chennai, Tamil
Nadu
2,262,000
1,360,000
1,360,000
Direct
Comprehensive
Village
6
Development
Programme
Rural
Development
Project
Villipuram,
Tamil Nadu
5,500,000
Direct
Flood relief
activity
Eradicating
hunger,
poverty and
malnutrition
and making
available safe
drinking water
Puducherry
58,800
58,800
58,800
Direct
53,620,800
5,618,800
5,618,800
Insurance
2 Literacy
Programme
Providing
infrastructure
facilities
for SC/ST
students
TOTAL
111
S.NO
FORMAT FOR THE ANNUAL REPORT ON CSR ACTIVITIES TO BE INCLUDED IN THE BOARDS REPORT - 2015-16
AZwbZH 4
(>cmIm| _|) (` in lakhs)

JV nmM dfm] _| dm`, Jm_rU Ama gm_m{OH$ jo _| H$m` {ZnmXZ
PERFORMANCE IN HEALTH, RURAL AND SOCIAL LINES IN THE PAST FIVE YEARS
nm[bgr
[ddaU Policy
Details
df /
Omar nm[b[g`m| ~r[_V `pV`m|

H$s g.
H$s g.
No. of
No. of
Year
Policies
Persons
issued
insured
dgybr J`r
r{_`_ am[e
Amount of
Premium
collected
gy{MV Xmdm|
H$s g.
No. of
claims
reported
CnJV Xmdm|
H$s am{e
Incurred
Claims
Amount
[Zn[QV Xmdm|
H$s g.
No. of
claims
settled
AXm [H$ò Jò

Xmdm| H$s am{e
Claims
settled
Amount
CnJV
Xmdm| H$m
AZwnmV %
Incurred
Claims
Ratio %
_oS>rbo_ nm[bgr / MEDICLAIM POLICIES

_oS>rbo_ (`{VJV+g_yh)
Mediclaim
(Individual+Group)
2011-12
1278706
10358867
193861.12
759521
177071.36
718008
180718.64
91.00
2012-13
1139956
12653608
196913.50
775713
175569.84
729624
177000.95
89.10
2013-14
1169594
14374592
230593.69
842648
231475.52
769143
227301.02
100.38
2014-15
1199957
18645917
281577.43
1268733
306623.21
1064926
293453.61
109.00
2015-16
1217520
23856761
365254.86
1388088
395927.29
1210920
396063.78
108.00
gm_m{OH$ Ama Jm_rU jo H$r EH$ PbH$ / SOCIAL AND RURAL SECTOR - A GLIMPSE
OZ Amamo` Jan
arogya
2011-12
6670
68405
37.73
991
37.44
991
37.54
99.22
2012-13
34984
81902
45.19
805
42.57
806
42.26
94.20
2013-14
5937
119902
66.16
993
54.88
994
54.95
82.95
2014-15
1278
2992
11.69
469
18.15
490
19.05
155.24
2015-16
OZVm `pVJV
XwKQZm nm{cgr
Janata
Personal
Accident
policy
dmng {b`m J`m CnmX / Product Withdrawn
2011-12
180541
5650782
3560.00
4877
3281.88
4770
3123.27
92.19
2012-13
155066
4164652
3305.42
3434
2534.81
3373
2248.65
76.69
2013-14
136177
3559132
2825.06
2800
2520.29
2815
2342.64
89.21
2014-15
47266
1269436
2748.98
2877
2454.44
2809
2185.66
89.29
2015-16
36264
1557267
1645.77
2756
1378
1212
1267
83.73
2011-12
35583
652928
1377.90
9083
1408.88
9212
1389.55
102.24
2012-13
27069
198263
564.25
7433
681.16
7368
745.25
120.72
2013-14
19755
123926
352.68
6647
425.53
6692
460.34
120.66
2014-15
5659
41449
75.48
3100
255.46
3295
271.07
338.44
gmd^m{_H$ dm` ~r_m

Universal
Health
insurance
2015-16
new ~r_m
Cattle
insurance
dmng {b`m J`m CnmX / Product Withdrawn
2011-12
231324
7242977
10290.61
43440
7230.35
42141
6981.12
70.26
2012-13
2765254
6251821
9976.28
39240
7555.03
38123
7304.40
76.73
2013-14
175037
6019202
9605.07
42632
8765.08
42867
8656.33
91.25
2014-15
161483
365089
9593.40
52813
8090.30
53710
8337.59
84.33
2015-16
256845
6126542
13515.46
31627
6690.77
63845
5954.78
49.50
112
eoàYmaH$m| Ed nm{bgrYmaH$m| H$s {ZY -2015-16

eoàYmaH$m| H$s {Z{Y
(` in 000)
31.03.2016H$mo eof
eoà nyOr
nyOr Ama{jV
gm_m` Ama{jV
{d{dY / {deof
Ama{jV
{VeV
1500000
1500000
13589
13589
55650263
54250507
148123
126247
57311975
Hw$b eoàYmaH$m| H$s {Z{Y
31.03.2015H$mo eof
27.60
{VeV
55890343
28.95
nm{bgrYmaH$m| H$s {Z{Y

SHAREHOLDERS AND POLICYHOLDERS FUNDS - 2015-16
(` in 000)
31.03.2016 H$mo 31.03.2016 H$mo 31.03.2016 H$mo

31.03.2015 H$mo 31.03.2015
H$mo {VeV
Ag_m Omo{I_ ~H$m`m Xmdm Ama{jV Hw$b Ama{jV {VeV Ag_m Omo{I_ H$mo ~H$m`m Xmdm 31.03.2015
Hw
$
b
Ama{jV
Ama{jV
Ama{jV
Ama{jV
ApZ
4341118
9320363
13661481
4011751
8119619
12131370
g_wr
1618113
3880249
5498362
1800163
3693026
5493189
{d{dY
48166505
82996097
131162602
41396902
78145154
119542056
Hw$b nm{bgrYmaH$m| H$s {Z{Y
54125736
96196709
150322445
47208816
89957799
137166615
72.40
207634420 100.00
Hw$b {Z{Y /
193056958 100.00
nm{bgrYmaH$m| VWm eoàYmaH$m| Ho$ ~rM _| df 2015-16 Ho$ {Zdoe Am` Ho$ {d{Z_`Z Ho$ {bò 01-04-2015 H$s eof am{e H$m `moJ {H$`m J`m h&
AmgV eoàYmaH$m| H$s {Z{Y:
AmgV nm{bgrYmaH$m| H$s {Z{Y:
` 56601159
` 143744530
114
71.05
SHAREHOLDERS FUNDS
(` in 000)
Balance as on
31.03.2016
Share Capital
Balance as on
31.03.2015
Percentage
1500000
1500000
Capital Reserve
13589
13589
General Reserve
55650263
54250507
148123
126247
Miscellaneous/Special
Reserves
Total Share holders
funds
57311975
27.60
Percentage
55890343
28.95
POLICYHOLDERS FUNDS
Reserve for
Unexpired
Risks as on
31.03.2016
Estimated
Liab. For
O/s. Claims
31.03.2016
Total
Reserves
as on
31.03.2016
Fire
4341118
9320363
13661481
4011751
8119619
12131370
Marine
1618113
3880249
5498362
1800163
3693026
5493189
Miscellaneous
48166505
82996097
131162602
41396902
78145154
119542056
Total Policyholders
funds
54125736
96196709
150322445
72.40
47208816
89957799
137166615
71.05
207634420
100.00
193056958
100.00
Total Funds
Reserve for Estimated

Percen- Unexpired
Liab. For
tage
Risks as on O/s. Claims
31.03.2015 31.03.2015
Total
Reserves
as on
31.03.2015
Percentage
The Balance as on 01.04.2015 are used as basis for apportionment of Investment Income of 2015-16 between Policyholders and
Shareholders.
Average Shareholders Funds:
` 56601159
Average Policyholders Funds:
` 143744530
115
(` in 000)
Jubilant Accounts team with Board of Directors
STANDALONE FINANCIAL STATEMENTS AND

SCHEDULES FOR THE YEAR ENDED 31 MARCH 2016
117
dV boIm narjH$ H$m {VdoXZ

`wZmBQ>oS> B{S>`m B`yaog H$nZr {b{_Q>oS> Ho$ ^mJrXmam| H$mo
dV boIm narjH$ H$m {VdoXZ
Q>S> AbmoZ {dVr` {ddaU H$m {VdoXZ
Ho$ {ZU` na {Zâ h {Og_| {dVr` {ddaU Ho$ JbV {ddaU Ho$ Omo{I_m|
H$m AmH$bZ Mmho YmoImYS>r `m w[Q> hmo gp_{bV h& boIm narjm _|
`wV boIm Zr{V Ho$ _y`mH$Z H$s Cn`wVVm Ama ~YZ Xdmam {H$ò
Jò boIm AZw_mZ H$s C{MVVm VWm {dVr` {ddaU H$s g_V Vw{V
H$m _y` ^r gp_{bV h&
h_Zo `wZmBQoS> B{S>`m B`yyaog H$nZr {b{_Q>oS> (''[X H$nZr'') Ho$

gbZQ>S> AbmoZ {dVr` {ddaU {Og_| 31 _mM 2016 VH$ VwbZ
n VWm CV {XZ H$mo g_m df Ho$ {bE ApZ, g_wr Vmm {d{dY ~r_m
amOd ImVm, bm^ Ama hm{Z ImVm VWm H$e \ bmo {ddaU Ama gbZ
_hdnyU boIm Zr{V`m Ama A` {ddaUm_H$ OmZH$mar H$r boIm narjm
H$s h {OZ_| gZXr boImH$ma Ho$ A` \ _ mam boIm nar{jV 28 jor`
H$m`mb`m|, {Ogo| (410 S>b H$mmbm| H$m {ddaU gp{bV h) 8
bmO H$mnm}aoQ Ama ~moH g H j Vmm ApV_ {dXoer MmbZ H$m {dXoer
boIm narjH$ mam boIm nar{jV {ddaU ^r g_o{H$V h&
h_| {ddmg h {H$ h_| mV boIm narjm _mU n`mV h Ed Q>S> AbmoZ
{dVr h_mar boIm narjm hoVw C{MV AmYma XmZ HaVr h &
_V`
h_mao _V` _| Ama h_| m OmZH$mar VWm h_| {Xò Jò nQ>rH$aU
Ho$ AZwgma Q>S> AbmoZ {dVr` {ddaU Cgr H$ma H$r OmZH$mar
XmZ H$aVo h Ogm {H$ ~r_m A{Y{Z`_ 1938, ~r_m {d{Z`m_H$ Ama
A{Y{Z`_ Ho$ AVJV Ano{jV h d mmaV _| gm_m`V AnZmB
OmZodmbr boIm n{V Ho$ AZw$n {ZZ{b{IV Ho$ g~Y _| EH$ ghr Ed
{Znj AdbmoH$Z VwV H$aVm h:
STANDALONE FINANCIAL STATEMENTS

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF UIIC
Q>S> AbmoZ {dVr` {ddaU hoVw ~YZ H$m Xm{`d

H$nZr A{Y{Z 2013 (H$nZr A{Y{Z) H$s Ymam 134 (5 )Ho$ gmW n{R>V
~rm A{Y{Z 1938 H$nZr boIm {Z 2014 Ho$ {Z 7 Ho$ gmW n{R>V
H$nZr A{Y{Z H$s Ymam 133 Ho$ VhV {d{Z{XQ> boIm mZH$ g{hV ^maV |
gmmV drH$V boIm Zr{V Ho$ AZwgma ~rm {d{ZmH$ Ama {dH$mg m{YH$aU
(~rm {d{ZmH$ {dH$mg m{YH$aU )~rm H$n{Zm| H$s boImnarjH$m| H$m {VdoXZ
Vwm {dVr {ddaU H$s Vmar {d{Z 2002 Ho$ AZwgma H$nZr H$s ghr Ama
{Znj {dVr pW{V {dVr {ZnmXZ Vwm H$e bmo {ddaU Ogo {dVr {ddaU
Vma H$aZo Ho${bE H$nZr Ho$ {ZXoeH$ S>b {OoXma h & Bg Xm{d | H$nZr
A{Y{Z Ho$ mdYmZ Ho$ AZwgma H$nZr H$s n[agnpVm| H$s gwajm Ama
YmoImYS>r amoH$Zo Ama nhMmZZo Ama A A{Z{VVmAm| Ho${bE nm boIm
A{^boIm| H$m aIaImd C{MV boIm Zr{Vm| Ho$ MZ Ama wV {ZU Ama
AZwmZ Omo C{MV Ama ({ddoH$nyU Ama {dVr {ddaU H$s Vmar ) Vw{V go
g~pYV {S>OmBZ H$mmdZ Ama nm AmV[aH$ boIm A{^boIm| Omo boIm
A{^boIm| H$s gQ>rH$Vm Ama nyUVm gw{ZpMV H$aZo ^mdembr T>J go H$maV h
Ama h ghr Ama {Znj XpQ>H$moU XmZ H$aVm h Ama VmpdH$Vm JbV ~mZ
go wV hmo Mmho YmoImYS>r V{Q> go hAm h ^r gp{bV h &
(A) VwbZ n Ho$ g~Y _| 31 _mM 2016 H$mo H$nZr H r H$m`

pm[V;
(Am) amOd boIm Ho$ g~Y _|, 31 _mM 2016 H$mo g_m df hoVw
A{Yeof / (H Q>mVr);
(B)
bm^ Ama hm{Z boIm Ho$ g~Y _| 31 _mM 2016 H$mo g_m
hwE df hoVw bm^ H$m; Ama
(B)
H$e \$bmo {ddaU Ho$ g~Y _| 31 _mM 2016 H$mo g_m

{dVr` df hoVw H$e \$bmo&
{df` H$m _hd

h_ {ZZ{b{IV {df Ho$ {dVr {ddaU na AmnH$m `mZ AmH${fV
H$aVo h :
boIm narjH$m| H$m Xm{`d
boIm mZH$ (E.Eg) 15, H$Mmar bm^ Ho$ mdYmZm| Ho$ {bò ^maVr` ~rm
{Z`mH$ Ed {dH$mg m{YH$aU mam Omar n[an g`m IRDA/F&A/CIR/
ACTS/077/04/2016 {XZmH$ 18 Ab 2016 Ed n g. IRDA/F&A/
LR/001/2016 {XZmH$ 19 Ab 2016 | Xr JB Ny>Q> Ho$ AZwgma {dmr`
{ddaU Ho$ ZmoQ> g. 25, | ` 2050000 (` 000) Ho$ n|eZ Ama CnXmZ
Xm{`d Ho$ AmWJZ H$m CoI h& Bg {df` na hmar am` | H$moB gemoYZ
Zht h &
h_mao boIm narjm Ho$ AmYma na BZ Q>S> AbmoZ {dVr` {ddaUm| na

AnZm _V H$Q> H$aZm h_mam Xm{`d h&
hZo H$nZr A{Y{Z Ho$ mdYmZ boIm Ama boIm narjm mZH$ Ama
mbo H$nZr A{Y{Z Ed CgHo$ CnamV {Zm| Ho$ mdYmZm| Ho$ AYrZ
gp{bV boIm narjm [anmoQ> H$mo {bm Jm h &
hZo H$nZr A{Y{Z H$s Ymam 143 (10) | Xr JB boIm narjm
mZH$mo Ho$ AmYma na boIm narjm {H$m h CV mZH$m| Ho$ mam h
Ano{jV h {H$ h boIm narjm H$m Cg H$ma {ZmoOZ VWm {ZnmXZ
H$a| {H$ {dVr {ddaU | hdnyU Vm| H$m JbV H$Q>Z Z hAm hmo&
A {df
hZo 28 jor H$mmb H$m (410 S>b H$mmb H$m {ddaU gp{bV
h) 8 Eb gr ~r Ama {dXoer A{V MmbZ H$m {dVr {ddaUm| / gyMZm
H$s boIm narjm Zht H$s h Omo H$nZr Ho$ {dVr {ddaUm| / gyMZm |
gp{bV h& {dVr {ddaUm| / {dVr gyMZm | 31 mM 2016 H$mo
boIm narjm Eogr n{V h Omo {dVr` {ddaU _| am{e VWm H$Q>Z
g~pYV boIm narjm _mm XmZ H$aVr h& M`{ZV n{V boIm narjH$
118
INDEPENDENT AUDITORS REPORT

TO THE MEMBERS OF UNITED INDIA INSURANCE COMPANY LIMITED
Report on the Standalone Financial Statements
We conducted our audit in accordance with the Standards on

Auditing specified under Section 143(10) of the Companies Act.
Those Standards require that we comply with ethical requirements
and plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit evidence
about the amounts and the disclosures in the financial statements.
The procedures selected depend on the auditors judgment,
including the assessment of the risks of material misstatement of
the financial statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal financial
control relevant to the Companys preparation of the financial
statements that give a true and fair view in order to design audit
procedures that are appropriate in the circumstances. An audit
also includes evaluating the appropriateness of the accounting
policies used and the reasonableness of the accounting estimates
made by the Companys Directors, as well as evaluating the
overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion on the
standalone financial statements.
We have audited the accompanying standalone financial

statements of United India Insurance Company Limited(the
Company), which comprise of Balance Sheet as at March 31
2016, the Fire, Marine and Miscellaneous Revenue Accounts, the
Profit and Loss Account and Cash Flow Statement for the year
then ended, and a summary of significant accounting policies
and other explanatory information incorporated in these financial
statements are the returns of the 28 Regional Offices (in which
are incorporated the Returns of 410 Divisional Offices), 8 Large
Corporate and Broker Cells and an overseas run-off operations
(other offices) audited by other auditors.
Managements Responsibility for the Standalone

Financial Statements
The Companys Board of Directors is responsible for the
matters stated in Section 134(5) of the Companies Act, 2013
(the Companies Act) with respect to the preparation of these
standalone financial statements that give a true and fair view
of the financial position, financial performance and cash flows
of the Company in accordance with the Insurance Act, 1938,
The Insurance Regulatory and Development Authority of India
(Preparation of Financial Statements and Auditors Report of
Insurance Companies) Regulation 2002, (the Regulation) in
accordance with the accounting principles generally accepted
in India, including the Accounting Standards specified under
Section 133 of the Companies Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014 to the extent applicable
and in the manner so required. This responsibility also includes
maintenance of adequate accounting records in accordance with
the provisions of the Companies Act for safeguarding the assets
of the Company and for preventing and detecting frauds and other
irregularities; selection and application of appropriate accounting
policies; making judgments and estimates that are reasonable
and prudent; and design, implementation and maintenance
of adequate internal financial controls, that were operating
effectively for ensuring the accuracy and completeness of the
accounting records, relevant to the preparation and presentation
of the financial statements that give a true and fair view and are
free from material misstatement, whether due to fraud or error.
In our opinion and to the best of our information and according to

the explanations given to us, the aforesaid standalone financial
statements give the information as required by the Insurance
Act, 1938, the Regulation and the Companies Act to the extent
applicable and in the manner so required, and give a true and
fair view in conformity with the accounting principles generally
accepted in India.
a) in the case of the Balance Sheet, of the state of affairs
of the Company as at March 31 2016;
b) in the case of the Revenue Accounts, of the deficit for
the year ended March 31 2016;
c) in the case of Profit and Loss Account, of the profit for
the year ended March 31 2016; and
d) in the case of the Cash Flow Statement, of the cash
flows for the year ended March 31 2016.
Emphasis of Matters
Auditors Responsibilities
We draw attention to the following matters in the notes to the

Financial Statements.
Note no 25 to the financial statements, which describes deferment
of pension and gratuity liability of the company to the extent of
` 2050000 (thousand) pursuant to the exemption granted by the
Insurance Regulatory and Development Authority of India from
application of the provisions of Accounting Standard
Our responsibility is to express an opinion on these standalone

financial statements based on our audit.
We have taken into account the provisions of the Companies Act,
the accounting and auditing standards and matters which are
required to be included in the audit report under the provisions of
the Companies Act and the Rules made thereunder.
119

Opinion
Hw$b n[agnpVm ` 6873944 (` 000) Ama Cgr {V{W H$mo gm

df Ho$ {bE Hw$b r{ Am `122695030 (` 000) Ama A
amOd ` 270718 (` 000) Xemm Jm h& BZ H$mmbm| Ho$ {dVr
{ddaUm| / gyMZm H$s boIm narjm A boIm narjH$m| mam {H$m Jm
Ama [anmoQ> h| VwV {H$m Jm h& BZ H$mmbm| Ho$ g~Y | hmam V
CZ H$mmbm| H$s boIm narjH mo [anmoQ> Ho$ AmYma na h& BZ mbm| Ho$
g~Y | hmam V gemo{YV Zht {H$m Jm h&
h_mar OmM Bg {dm` na {Z`wV ~r_mH$H$ Ho$ _mU n na

AmYm[aV h& Bg g~Y | hZo {ZwV ~rmH$H$ Ho$ mU n
na {ddmg H$aVo h&
6)
H$nZr Zo {d{Z`_ Ho$ mdYmZm| Ho$ AZwgma AnZo {Zdoem| H$m

_y`mH$Z {H$`m h &
7)
A` HmZyZs Ama [d[Z`m_H AnommAmo Hm [VdoXZ
hmar am | {dVr {ddaU Ama H$nZr H$s boIm Zr{V {d{ZmH$

mam {ZYm[aV boIm n{V VWm H$nZr A{Y{Z H$s Ymam 133
A) HnZs A[Y[Z`_ 1938 VWm HnZs [Z`_ ([Z`_ 7) 2014 Ho
Ho$ gmW {Z 7 Ho$ VhV n{R>V H$nZr (boIm) H$s {Z 2014
gmY n[RV HnZs A[Y[Z`_ Hs Ymam 133 Ho gmW n[RV [d[Z`_ Ohm
VH$ Ohm g^d hmo Ama Wm Ano{jVmZwgma hmo&
VH bmJy hmo Ed Ano[mVmZwgma QS AbmoZ [dVs` [ddaU V`ma [H`m

8)
J`m h
h_Zo ~YZ {VdoXZ H$s g_rjm H$s h Vmm nm`m h {H$ `h

`jV [Q> a{hV h VWm Q>S> AbmoZ {dVr` {ddam Ho$ gmW
Am) {d{Z Ho$ Ano{jVmZwgma h_ {VdoXZ H$aVo h {H$

1)
H$moB _hdnyU {dgJ{V Zht h&
h_Zo do g^r gyMZmE Ama nQ>rH$aU m H$s h, Omo h_mao gdm}
9)
V_ OmZH$mar Ama {ddmg Ho$ AZwgma h_mar boIm narjm Ho$
Ho$ {bò {ZYm[aV eVm] Ama {Z`_m| H$m AZwnmbZ {H$`m h&
`moOZ Ho$ {bE Amd`H$ Wo Ama gVmofOZH$ nm`m;

2)
3)
10)
dmV{dH$ {ZarjU mam AWdm _mU-nm| AWdm A` XVmdoOm|
go VrV hmoVm h {H$ dYm{ZH$ $n go Ano{jV boIm ~{h`m h;
Ho$ gm` mam n[aemoYZ Ho$ {bò ôOo Jò 4947 hOma Ho$ F$U
h_mar am` _| _S>b H$m`mb`m|, jor` H$m`mb`m|, bmO H$mnm}aoQ
nm| H$mo NmoS>H$a, g`m{nV {H$`m h &

11)
hE h VWm ò h_mar boIm narjm Ho$ {bò n`m h &
5)
~H$ _| O_m am{e`m| VWm g~{YV {V^y{V`m| Ama {Zdoem| H$m
h_mao _V` _o H$nZr mam aIr JB boIm ImVm| H$s OmM H$aZo
~mM Ama {dXoer EOogr Ho$ A{V_ MmbZ go C{MV {ddaU m
4)
H$nZr Zo ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU mam nOrH$aU
h_mar nyU OmZH$mar VWm H$nZr mam {Xò Jò nQ>rH$aU Ed

A`mdoXZmo Ho$ AZwgma H$nZr {H$gr `mg H$s `mgr Zht h&
h_mao {VdoXZ _| em{_b {H$ò Jò H$nZr Ho$ VwbZ n, amOd
12)
h_mar OmZH$mar VWm H$nZr mam h_| {Xò Jò nQ>rH$aU Ed
mmVo, bm^ Ama hm{Z mmVm, H$e \$bmo (m{ Ama ^wJVmZ
A`mdoXZm| Ho$ AZwgma ~r_mYmaH$m| Hr {Z{Y`m| Ho$ {H$gr ^r
boIm) Am{X H$m {_bZ ImVm ~{h`m| Ama {dda{U`m| Ho$ AZwgma
n[agnpV H$m `j `m namoj $n go ~r_m A{Y{Z`_, 1938
hr h VWm hmao mam Xmam Zht {H$o Jo H$mmbm| go m {ddaU
(1938 H$m 4) H$o mdYmZm| Ho$ {d Cn`moJ Zht {H$`m J`m h&
Ho$ AZwgma h &
`h ~r_mYmaH$m| H r {Z{Y`m| Ho$ Cn`moJ Ama {Zdoe go g~{YV
CnJV bo{H$Z Agy{MV Xmdo (AmB.~r.EZ.Ama.) Ed CnJV ~pH$
mdYmZ h&
n`mV n go Agy{MV Xmdm| (AmB.~r.EZ.B.Ama.) H$m ~r_mH$H$
gr)
_y`mH$Z {Z`wV ~r_mH$H$ mam _mpmV {H$`m J`m h& {Z`wV
H$nZr A{Y{Z H$s Ymam 143 (3) H$s AnojmZwgma h

{VdoXZ H$aVo h {H$
~r_mH$H$ Zo H$nZr H$mo n_m[UV {H$`m h {H$ Eogo AZw_mZm| Ho$ {bE
1) hZo CZ g^r gyMZm| Ama nQ>rH$aU m H$s h Omo hmao
`wV Ymamm| g_w{MV h Ama ~r_m {d{Z`m_H$ Ama {dH$mg
gdm}V OmZH$mar Ama {ddmg Ho$ AZwgma hmar boIm
m{YH$aU VWm ~r_m [d{Z`m_H$ Ama {dH$mg m{YH$aU H$s gh_
narjm Ho$ moOZ Ho$ {bE AmdH$ Wo&
{V go ^maVr` ~r_mH$H$ gWm H$s AnojmAm| Ho$ AZwnmbZ _| h&

120
Our opinion is not modified in respect of above matter.
Other Matter
We did not audit the financial statements/information of 28
Regional Offices (in which are incorporated the Returns of 410
Divisional Offices), 8 Large Corporate and Broker Cells and an
Overseas run-off operations included in the standalone financial
statements of the Company whose financial statements / financial
information reflect total assets of ` 6873944 (` 000s) as at
31st March, 2016 and total Premium income of ` 122695030
(` 000s) and other revenues of ` 270718 (` 000s) for the year
ended on that date, as considered in the standalone financial
statements. The financial statements/information of these
other offices are audited by the auditors whose reports have
been furnished to us, and our opinion in so far as it relates to
the amounts and disclosures included in respect of these other
offices, is based solely on the report of such other offices
auditors.
6) The Company has valued its investments in

accordance with provisions of the Regulation;
7) In our opinion, the financial statements and the
Accounting Policies of the Company comply with the
accounting principles as prescribed by the Regulation
and with the Accounting Standards specified under
Section 133 of the Companies Act, read with Rule 7 of
the Companies (Accounts) Rules, 2014 to the extent
applicable and in the manner so required;
Report on Other Legal and Regulatory requirements
B)
The standalone financial statements have been drawn

up in accordance with the requirements of the Insurance
Act, 1938 and the Regulation, read with Section 133
of the Companies Act read with Rule 7 of the Companies
(Accounts) Rules, 2014 to the extent applicable and in the
manner so required.
9) The company has complied with the terms and

conditions of the registration stipulated by the
authority;
10) We have verified the cash and bank balances,
investments and securities relating to loans by actual
inspection or by production of certificates and other
documentary evidences except for the debentures
amounting to Rs 4947 thousands sent for redemption;
As required by the Regulation, we report that:

1) We have obtained all the information and explanations
which, to the best of our knowledge and belief were
necessary for the purposes of our audit and found
them satisfactory;
11) To the best of our information and explanations given

to us and representations made by the Company, the
Company is not the trustee of any trust, and,
2) In our opinion, proper books of account as required by

law have been kept by the Company so far as it
appears from our examination of those books;
12) To the best of our information and explanations given

to us and representation made by the company, no part
of the assets of the Policyholders Funds has been
directly or indirectly applied in contravention of the
provisions of the Insurance Act, 1938 - relating to the
application and investments of the Policyholders Fund.
3) In our opinion proper returns and report on the

accounts of other offices which were not visited by us,
have been received and these were considered
adequate for the purpose of audit;
C)
4) The Balance Sheet, Revenue Accounts, Profit and Loss

Account and Cash Flow Statement dealt with by this
report are in agreement with the books of account and
with the returns received from other offices which
were not visited by us;
As required by Section 143 (3) of the Companies Act, we

report that:
1) We have sought and obtained all the information and
explanations which to the best of our knowledge and
belief were necessary for the purposes of our audit.
121

8) We have reviewed the Management Report and there

is no apparent mistake or material inconsistency with
the standalone financial statements;
Our opinion is not modified in respect of this matter.
A)
5) The Actuarial valuation of liabilities in respect of Claims

Incurred But not Reported (IBNR) and Claims Incurred
But not Enough Reported (IBNER) has been duly
certified by the appointed actuary. The appointed
actuary has certified to the company that the
assumptions used for such valuation are appropriate
and are in accordance with the requirement of the
authority and Actuarial Society of India in concurrence
with the authority. We have relied on the appointed
actuarys certificate in this regard;
(AS) 15, Employee Benefits vide its circular No: IRDA/F&A/

CIR/ACTS/077/04/2016 dated 18-April-2016 and Letter No.
IRDA/F&A/LR/001/2016 dated 19-April-2016.
2) hmao V | CnamoV {dVr {ddaU H$nZr A{Y{Z H$s
OmZodmbo A mbm| Ho$ g~Y | hmam V Ama hmao
Ymam 133 Ho$ gmW n{R>V H$nZr (boIm) {Z 2014 Ho$
gdmoV OmZH$mar Ama h| {Xo Jo nQ>rH$aU Ho$ AZwgma:
{Z 7 | {ZYm[aV boIm mZH$m| Ho$ AZwgma h&
(1) H$nZr Zo AnZo {dVr {ddaU | AnZr {dVr pW{V na

b{~V wH$Xm| Ho$ ^md H$m H$Q>Z {H$m h & {dVr {ddaU
3) H$nZr mbm| Ho$ mb` H$s A{YgyMZm Or.Eg.Ama.463
Ho$ ZmoQ 1 H$m gX^ b| &
{XZmH$ 05 OyZ 2015 H$mo mZ | aIVo hE H$nZr

A{Y{Z H$s Ymam 164(2) H$m mdYmZ H$nZr Ho$ {ZXoeH$m|
(2) H$nZr Ho$ nmg wn AZw~Y g{hV XrKH$m{bZ AZw~Y Zht
Ho$ {bE bmJy Zht h&
Wo, {OgHo$ {bE {H$gr ^r ^{d H$s hm{Z Wr &
4) HnZs Ho {dVr [anmoqQJ Hs AmV[aH {dVr [ZÙ Hs
(3) H$nZr mam {ZdoeH$ {ejm Ama gajU {Z{Y H$mo WmZmVaU
H$aZo H$s Anojm h, CgHo$ {bE H$moB {Z{Y eof Zht h &
n`mVVm VWm CV [ZÙ Ho ^mds NmbZ Ho g~Y _o

h_mao AZwbmZH 'A' Ho nWH [anmoQ Hm gX^ bo Ama
S>r) A{Y{Z H$s Ymam 143 H$s Cn Ymam (5) Ho$ AZwgma ^maVr
{ZH$ d hm boIm narjH$ H$s Anojm Ho$ AZwgma, h AZwbZH$ '~r' |
Omar {H$o Jo {Xem {ZX}em| na ~mZ XoVo h&
5) H$nZr (boIm narjm Ama boIm narjH$m| {Z 2014 Ho$

{Z 11 Ho$ AZwgma boIm narjH$ [anmoQ> | gp{bV {H$o
H$Vo ~h``m ES> H$nZr

gZXr boImH$ma
E\$AmaEZ 000511Eg
H$Vo _hmamO EZ.Ama. gwaoe ES> H$nZr

gZXr boImH$ma
E\$AmaEZ 01931Eg
H$Vo nX_Zm^Z a_Ur ES> am_mZwO_

gZXr boImH$ma
E\$AmaEZ 02510Eg
grE. {OVo Hw$_ma Ho$

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
WmZ: Mo
{XZmH$ : 13 _B, 2016
122
3) The provisions of Section 164 (2) of the Companies Act

are not applicable to the directors of the Company in
view of Ministry of Corporate Affairs notification GSR
463 dated 5th June 2015.
ii) The Company did not have any long-term contracts

including derivative contracts for which there were any
material foreseeable losses;
4) With respect to the adequacy of the internal financial

controls over financial reporting of the Company and
the operating effectiveness of such controls, refer to
our separate Report in Annexure A, and,
iii) There were no amounts which were required to be

transferred to the Investor Education and Protection
Fund by the Company.
5) With respect to the other matters to be included in the

Auditors Report in accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2014, in our
opinion and to the best of our information and
D) As required by Comptroller and Auditor General of India in

terms of sub-section (5) of section 143 of the Act, we give in the
Annexure statement on the directions issued.
For Brahmayya & Co.

Chartered Accountants
FRN: 000511S
For Maharaj N. R. Suresh and Co.

FRN: 01931S
For Padmanabhan Ramani & Ramanujam

FRN: 02510S
CA Jitendra Kumar K
Partner
Membership No. 201825
CA N R Suresh
Partner
CA N Ramani
Partner
Place: Chennai
Date: 13th May, 2016
123
i) The Company has disclosed the impact of pending

litigations on its financial position in its financial
statements Refer Note no.1 to the financial
statements;

according to the explanations given to us:
2) In our opinion, the aforesaid standalone financial

statements comply with the Accounting Standards
specified under Section 133 of the Companies Act, read
with Rule 7 of the Companies (Accounts) Rules, 2014.
`yZmBQ>oS> B{S>`m B`moa|g H$nZr {b{Q>oS> Ho$ Q>S>AbmoZ {dmr` {ddaUmo Ho$
AZwbZH "E' Ho$ [anmoQ> H$s VmarI H$s dV boIm narjH$mo H$s [anmoQ>
H$m AmH$bZ Ama AmV[aH$ {ZÙ Ho$ {S>OmBZ, ^mderbVm Ed gMmbZ
H$m y`mH$Z em{b h& M`{ZV n{V boIm narjH$ Ho$ {ZU` na {Zâ
h {Og| {dmr` {ddaU Ho$ JbV hmoZo Ho$ OmopIm| H$m AmH$bZ Mmho
YmoImYS>r `m w{Q> hmo g{bV h&
H$nZr A{Y{Z` 2013 (""A{Y{Z`'') H$s Ymam 143 H$s

CnYmam 3 Ho$ IS> (i) Ho$ VhV AmV[aH$ {dmr` {ZÙ na
[anmoQ>

hZo 31 mM 2016 H$mo `yZmBQ>oS> B{S>`m B`moa|g H$nZr {b{Q>oS>

(""H$nZr'') Ho$ Q>S>AbmoZ {dmr` {ddaUm| Ho$ g`moOZ Ho$ $n | H$nZr
H$s {dmr` [anmo{Q>J Ho$ AmV[aH$ {dmr` {ZÙ H$m boIm narjU {H$`m&
h| {dmg h {H$ h| m boIm narjm mU n`m h Ama H$nZr Ho$

AmV[aH$ {dmr` {ZÙ Umbr hoVw C{MV AmYma XmZ H$aVr h&
AmV[aH$ {dmr` {ZÙ Ho$ {bE ~YZ H$s {OoXmar
{dmr` {anmo{QJ na AmV{aH$ {dmr` {ZÙ H$m AW
H$nZr H$m ~YZ X BpQ>Q>yQ> Am$ MmQ>}S> AH$mCQ>|Qg Am$ BpS>`m mam
AmV[aH$ {dmr` {ZÙ Ho$ {bò {Xò Jò {Xem{ZX}{eV ZmoQ> | {Xò Jò
AmV[aH$ {ZÙ Ho$ Amd`H$ KQ>H$m| na {dMma H$aHo$ Wm{nV H$aZo Ed
Cho ~ZmE aIZo Ho$ {bò {OoXma h& H$nZr A{Y{Z`, 2013 Ho$ VhV
BZ {OoXm[a`m| | gw{MV AmV[aH$ {dmr` {ZÙ Ho$ {bò {S>OmBZ,
H$m`md`Z Ama aIaImd em{b h Ama AmV[aH$ {dmr` {ZÙ Ho$
Hw$eb gMmbZ H$mo gw{Z{V H$aZo, H$nZr H$s Zr{V`m| | nmbZ H$aZo,
AnZr gn{m H$s gwajm, YmoImYS>r H$s amoH$Wm Ama w{Q>`m| H$m nVm
bJmZo, gQ>rH$Vm Ama boIm A{^boIm| H$s nyUVm, Ama {dgZr` {dmr`
OmZH$mar H$mo g` na V`ma H$aZm h&
H$nZr H$s AmV[aH$ {dmr` {ZÙ {H$`m {dmr` [anmo{Q>J H$s

{dgZr`Vm Ama Am Vma na drH$V boImH$Z {gmVm| Ho$ AZwgma
~mhar `moOZm| Ho$ {bE {dmr` d$`m| H$s V`mar Ho$ g~Y | C{MV
AmmgZ XmZ H$aVr h& EH$ H$nZr H$s {dmr` [anmo{Q>J hoVw AmV[aH$
{dmr` {ZÙ Umbr H$s Zr{V`m| Ama {H$`mAm| o em{b h: 1) H$nZr
H$s gn{m Ho$ d^md, boZXoZ Ho$ A{^boIm| Ho$ aIaImd H$m ghr d C{MV
$n go n{V{~p~V H$aZm em{b h& 2) {H$ò Jò {dmr` boZ-XoZ H$mo
gmm`V: drH$V boImH$Z {gmVm| Ho$ AZwgma {dmr` d$`m| | XO
{H$`m J`m h h m{`m Ama `` H$mo H$nZr Ho$ ~YZ Ama H$nZr Ho$
{ZXoeH$ m{YH$aU Ho$ AZwgma {H$`m Om ahm h& 3) H$nZr H$s gn{m
Ho$ AZm{YH$V A{YJhU, Cn`moJ {OgH$m {dmr` {ddaU | hdnyU
^md hmo CgH$m nVm bJmZm Ed amoH$Wm Ho$ {bò C{MV AmmgZ XmZ
H$aZm&
boIm narjH$m| H$s {OoXmar

hmao boIm narjm Ho$ AmYma na AmV[aH$ {dmr` {ZÙ na AnZm V
H$Q> H$aZm hmam Xm{`d h& hmam Xm{`d AmB.gr.E.AmB Ama H$nZr
A{Y{Z` 2013 H$s Ymam 143 (10) Ho$ mam AmV[aH$ {dmr` {ZÙ
Ho$ {bò {Xò Jò {Xem{ZX}{eV ZmoQ> (""JmBS|>g ZmoQ>'') Ed boIm narjm
mZH$mo Ho$ AZw$n boIm narjm gn H$aZm h ò XmoZmo BQ>rQ>yQ> Am$
MmQ>}S> AH$mCQ>|Qg Am$ BpS>`m mam Omar h Ama XmoZmo hr AmV[aH$
{dmr` {ZÙ H$s boIm narjm na bmJy h&
{dmr` {anmo{QJ hoVw AmV{aH$ {dmr` {ZÙ nUmbr H$r

gr_mE
{dmr` [anmo{Q>J hoVw AmV[aH$ {dmr` {ZÙ Umbr H$s grmE `m|{H$
{dmr` [anmo{Q>J na AmV[aH$ {dmr` {ZÙ Umbr H$s {Z{hV grmAm|
Ho$ AZwgma {br^JV `m {ZÙ Ho$ AZw{MV ~YZ Ho$ H$maU, A{ZÙ,
hdnyU w{Q> Ho$ H$maU JbV {ddaU `m YmoImYS>r H$s g^mdZm hmoVr h&
BZ mZH$m| Ama JmBS|>g ZmoQ> H$m Z{VH$ Ama `moOZm Ho$ AZw$n nmbZ Ed
boIm narjm H$s `moOZm ~ZmVo hE boIm narjm | n`m AmV[aH$ {dmr`
{ZÙ Wm{nV H$aZo, ~Zmò aIZo, ^mdr T>J go gMm{bV H$aZo Ed
Bho {Z`{V H$aZo H$m C{MV AmmgZ m H$aVo hE boIm narjm XeZ
{H$`m h&
BgHo$ Abmdm `h ^{d` Ad{Y Ho$ {bE {dmr` [anmo{Q>J na AmV[aH$

{dmr` {ZÙ Ho$ {H$gr ^r y`mH$Z Ho$ AZwmZm| Ho$ OmopI Ho$ AYrZ
h Ama AmV[aH$ {dmr` {ZÙ | pW{V`m| | ~Xbmd Ho$ H$maU Zr{V`m|
`m {H$`mAm| H$m AZwnmbZ Iam~ hmo gH$Vm h&
hmao boIm narjm H$s {H$`m XeZ | {dmr` [anmo{Q>J na AmV[aH$

{dmr` {ZÙ Umbr H$s n`mVm Ama CZHo$ n[aMmbZ ^md Ho$ ~mao |
boIm narjm gm` m H$aZm em{b h& hmar boIm narjm {dmr`
[anmo{Q>J | AmV[aH$ {dmr` {ZÙ H$s hdnyU OmopIm| Ed H$Omo[a`m|
124
Report on the Internal Financial Controls under

Clause(i) of Sub-section 3 of Section 143 of the
Companies Act, 2013 (the Act)
internal financial controls over financial reporting included

obtaining an understanding of internal financial controls over
financial reporting, assessing the risk that a material weakness
exists, and testing and evaluating the design and operating
effectiveness of internal control based on the assessed risk. The
procedures selected depend on the auditors judgement,
including the assessment of the risks of material misstatement of
the financial statements, whether due to fraud or error.
We have audited the internal financial controls over financial

reporting of United India Insurance Company Limited (the
Company) as of March 31, 2016 in conjunction with our audit of
the standalone financial statements of the Company for the year
ended on that date.
ANNEXURE A TO THE INDEPENDENT AUDITORS REPORT OF

EVEN DATE ON THE STANDALONE FINANCIAL STATEMENTS OF
UNITED INDIA INSURANCE COMPANY LIMITED

Companys internal financial controls system over financial
reporting.
Managements Responsibility for Internal Financial

Controls
The Companys management is responsible for establishing
and maintaining internal financial controls based on the
internal control over financial reporting criteria established by
the Company considering the essential components of internal
control stated in the Guidance Note on Audit of Internal Financial
Controls Over Financial Reporting issued by the Institute of
Chartered Accountants of India. These responsibilities include the
design, implementation and maintenance of adequate internal
financial controls that were operating effectively for ensuring
the orderly and efficient conduct of its business, including
adherence to companys policies, the safeguarding of its assets,
the prevention and detection of frauds and errors, the accuracy
and completeness of the accounting records, and the timely
preparation of reliable financial information, as required under
the Companies Act, 2013.
A companys internal financial control over financial reporting is a

process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally
accepted accounting principles. A companys internal financial
control over financial reporting includes those policies and
procedures that (1) pertain to the maintenance of records that, in
reasonable detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (2) provide reasonable
assurance that transactions are recorded as necessary to
permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and
expenditures of the company are being made only in accordance
with authorisation of management and directors of the company;
and (3) provide reasonable assurance regarding prevention or
timely detection of unauthorised acquisition, use, or disposition
of the companys assets that could have a material effect on the
financial statements.
Auditors Responsibility
Our responsibility is to express an opinion on the Companys
internal financial controls over financial reporting based on our
audit. We conducted our audit in accordance with the Guidance
Note on Audit of Internal Financial Controls Over Financial
Reporting (the Guidance Note) and the Standards on Auditing,
issued by ICAI and deemed to be prescribed under section
143(10) of the Companies Act, 2013, to the extent applicable to
an audit of internal financial controls, both applicable to an audit
of Internal Financial Controls and, both issued by the Institute of
Chartered Accountants of India. Those Standards and the
Guidance Note require that we comply with ethical requirements
about whether adequate internal financial controls over financial
reporting was established and maintained and if such controls
operated effectively in all material respects.
Inherent Limitations of Internal Financial Controls

Over Financial Reporting
Because of the inherent limitations of internal financial controls
over financial reporting, including the possibility of collusion
or improper management override of controls, material
misstatements due to error or fraud may occur and not be
detected. Also, projections of any evaluation of the internal
financial controls over financial reporting to future periods are
subject to the risk that the internal financial control over financial
reporting may become inadequate because of changes in
conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
Our audit involves performing procedures to obtain audit evidence

about the adequacy of the internal financial controls system over
financial reporting and their operating effectiveness. Our audit of
125

Meaning of Internal Financial Controls Over Financial

Reporting
am`
A` mbo
hmar am` |, H$nZr Zo AmB.gr.E.AmB Ho$ mam AmV[aH$ {dmr` {ZÙ

Ho$ {bò {Xò Jò {Xem{ZX}{eV ZmoQ> (""JmBS|>g ZmoQ>'') Ed boIm narjm
mZH$mo Ho$ AZw$n 31 mM 2016 | {dmr` {ZÙ Ho$ {bò {dmr`
[anmo{Q>J mZXS> Wm{nV H$aVo hE n`m AmV[aH$ {dmr` {ZÙ Umbr
H$mo ^mdr T>J go bmJy {H$`m J`m h &
hmar C$ {dmr` [anmoQ>, A{Y{Z` H$s Ymam 143 (3) (i) Ho$ AZwgma
{dmr` {anmo{QJ Ho$ {bò 28 jor` H$m`mb`m| ({Og| 410 {S>drOZb
H$m`mb` Ho$ [aQ>Z em{b H$a aho h) 8 bmO H$mnm}aoQ> Ama ~moH$a H$mo>m|
go g~pYV H$m`mb`m| Ho$ boIm narjH$m| H$s [anmoQ> Ho$ AmYma na H$s
J`r h&
H$Vo ~h``m ES >H$nZr

gZXr boImH$ma
E\$AmaEZ 000511Eg

gZXr boImH$ma
E\$AmaEZ 01931Eg

gZXr boImH$ma
E\$AmaEZ 02510Eg

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438

WmZ: Mo
{XZmH$ : 13 _B, 2016
126
Other Matters
In our opinion, the Company has, in all material respects, an

adequate internal financial controls system over financial
reporting and such internal financial controls over financial
reporting were operating effectively as at March 31, 2016, based
on the internal control over financial reporting criteria established
by the Company considering the essential components of internal
Chartered Accountants of India.
Our aforesaid reports under Section 143(3)(i) of the Act on the

adequacy and operating effectiveness of the internal financial
controls over financial reporting insofar as it relates to 28
Regional Offices (in which are incorporated the Returns of 410
Divisional Offices), 8 Large Corporate and Broker Cells is based
on the corresponding reports of the auditors of the respective
offices.
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
Opinion

Place: Chennai
127
dV boIm narjH$m| H$s [anmoQ> (AZwbZH ~r)

(nam S>r Ho$ AmYma na `ZymBQ>oS> B[S>`m B`moag H$nZr [b[Q>oS> Ho$ gX`m| hoVw AmO [XZmH$ VH$ H$mZyZr Ama [Z`mH$
Amd`H$VmAmo Ho$ ^mJ Ho$ AVJV hmar [anmoQ>)
H$nZr A[Y{Z` 2013 Ho$ ^mJ 143(5) Ho$ AVJV {ZX}e
H$_
{ZX}e
1.
`m H$nZr Ho$ nmg H$e {\$hmoS>

Ama n>mYV ^y{_ Ho$ {bE n>
Q>mB{Q>b/brO h?
AJa Zht Vmo \$shmoS> Ama n>mYV
^y{_ H$m jo ~VmE {OgHo$ {bE
Q>mBQ>b/brO Ho$ {bE CnbY Zhr h&
2. `m F$U/`mX Am{X H$m A{Y`mJ/
Ny>Q> H$m H$moB _m_bm h& `{X hm, Vmo
H$maU VWm em{_b YZam{e ~Vmò
Cma
hZo {\$hmoS> Ama n>mYV ^y{_ Ho$ g~Y _| _yb Q>mB[Q>b Vmo g`m{nV {H$`m h Ama {\$hmoS> Ama n>mYV
^y{_ H$s Cn-loUr Ho$ AVJV AZwgyMr 10 (AMb gn{m`m|) _| em{_b {H$`m h& 12 n[agn{V`m| _|
go, 8 n[agn{m`m H$m Q>mB{Q>b nyd H$n{Z`m| Ho$ Zm_ h Omo `ZymBQ>oS> B[S>`m B`moag H$nZr [b[Q>oS>
Ho$ gmW [db` hB h& `y{Z`Z H$mnao{Q>d {~pS>J, ga nr E_ amoS>, _w~B go g~{YV _yb Q>mB{Q>b n d
Bbrg {~O, Ah_Xm~mX H$s n{agn{m H$s EH$ brO S>rS> CnbY Zht h&
H$nZr H$m Zm_

{Zdoe H$m H$ma
ImVm _y`
m am{e
(`)
(`)
_yb eof-Xo`
`mO - ~>o Xo` `mO ImVo _| S>mbr am{e H$s Ny>Q
J`r am{e
(`)
{Q>nUr

(`)
{d{dY boZXmam| Ho$ gmW

g_PmVo H$s `moOZm Ho$
AZwgma Ah_Xm~mX
497 hOma
_| JwOamV Ho$ _mZZr`
(22.5.2015
Am{e_m S>`H$mQ>
4003 hOma 1275 hOma C `m`mb` mam 16
4501 hOma
H$mo m)
{b -- F$U n
Anb, 2015 H$mo Omar
AmXoe
3.
`m VVr` nj Ho$ nmg aIo hò g_mZ

Ama gaH$ma `m A` m{YH$m[a`m| go
m Cnhma / AZwXmZ H$m C{MV
A{^boI aIm OmVm h?
bmJy Zht
128
1. Whether the company has clear

title/lease deeds for freehold
and leasehold land respectively?
If not please state the area of
freehold and leasehold land for
which title/ lease deeds are not
available.
2. Whether there are any cases of
waiver/ write off of debts/loans/
interest etc., if yes, the reasons
there for and the amount involved
REPLY
We have verified the original title deeds in respect of the freehold and leasehold lands included
in schedule 10(Fixed Assets) under sub category of Freehold and Lease hold land. Out of the
12 items, title deeds in respect of the 8 properties are in the name of erstwhile companies
merged with United India Insurance Co. Ltd. Original Title deed in respect of one freehold land
at Union Co-operative Building ,Sir P.M.Road, Mumbai and one lease deed for property at Ellis
Bridge, Ahmedabad are not available.
Name of the
Company/
Nature of
Investment
Ashima Dyecot
LimitedDebentures
Book Value
(`)
Amount
Received
(`)
Principal
due-Amount
written off
(`)
Interest
DueAmount
waived
(`)
Remarks
1275
thousands
As per Scheme of
Compromise with
Sundry CreditorsSanctioned
by
Honourable
High
Court of Gujarat at
Ahmedabad vide its
order dated 16th
April 2015
497
thousands
4501
thousands
3. Whether proper records are

maintained for inventories lying
with third parties & assets
received as gift/grant(s) from
Govt. or other authorities.
(Received on
22/05/2015)
4003
thousands
Not Applicable
129
S.No DIRECTIONS

Annexure B to the Independent Auditors Report

(referred to in Paragraph D under Other Legal and Regulatory requirements section of our Report
of even date to the members of United India Insurance Company Ltd.)
DIRECTIONS UNDER SECTION 143(5) OF THE COMPANIES ACT, 2013
H$nZr A{Y{Z`, 2013 H$s Ymam 143(5) Ho$ Cn {Xem{ZX}e Ho$ VhV df
2015-16 Ho$ {bò Omar
H$.g.
1.
`mam
Odm~
grOrEg/ EgOrEg / ~mS> / {S>~|Ma Am{X Ho$ {bò ^m{VH$ /

S>roQ> $m | CnbY dm{d Q>mB{Q>b H$s g`m d {OZ mbm|
| gPmVm Zht h CZHo $Z~a H$m nVm bJmZm d Cgo H$nZr H$s
{H$Vm~m| | {XIm`m J`m h Bgo g`m{nV {H$`m Om gH$Vm h Ama
{dgJ{V Ho$ {bò Cn`mo$ gyMZm Xr h&
E) 31.03.2016 H$mo ~H$m`m Xmdm| H$s Hw$b g`m
2.
~r) Cn`w$ "E' | go OmM {H$ò Jò mbm| H$s g`m
`mao
gmYmZ
g{hV
gmYmZ a{hV
nwZJ{R>V
{S>~|Ma
16
2(nwVH$ y` 2
nò)
296456
42,163- jo.H$m. / H$m. Va na boIm narjH$m| mam OmM

14.22%
gr) M`{ZV ZyZm H$m {VeV (E / ~r x100)
mbm| H$s `m Ohm ~H$m`m Xmdm| Ho$ {bE n`m mdYmZ Zht {H$`m J`m h `m {dgJ{V`m| nmB J`r :
g`m
aH$
`
E) H$ mdYmZ
2649
I) A{V[a$ mdYmZ
768
38,70,201 hOma: Bg H$
{H$ò Jò mdYmZrH$aU H$mo jor` /
YmZ H$m`mb` | gwYmam J`m h&
` 7,49,780 hOma : Bg A{V[a$
mo{dOqZJ H$mo jor` / YmZ
H$m`mb` | gwYmam J`m h&

r{` / Xmdm| Ho$ g~Y | Anw> gh ~rm eof am{e Ho$ mbm| H$s Hw$b g`m:
`
A` ~rm H$n{Z`m| H$s dOh go
12,71,516 hOma : Anw> eof

645
am{e H$s nw{> Ho$ {bò H$nZr mam mJ
H$s JB h&
` 10,03,643 hOma : Anw> eof
A` ~rm H$n{Z`m| go
256
am{e H$s nw{> Ho$ {bE H$nZr mam mJ
H$s JB h&
nwZ~um H$mamo~ma Ho$ g~Y | ôOr JB nwZ~um H$n{Z`m| H$mo ma{^H$ gmno Jò H$mamo~ma Ho$ g~Y AmdH$ drH${V`m Ho$ g~Y |:
ZwH$gmZ ESdmBg Ama Xmdm ZwH$gmZ ESdmBg nwZ~um AmdH$ drH${V`m |:
ma{^H$ KmQ>m EmBg -51
Ed nwZ~um H$mamo~ma Ho$ g~Y | nwZ~um H$n{Z`m| H$mo ôOo Jò d m ma{^H$ KmQ>m EmBg -40 Xmdm ZwH$gmZ EmBg-471
H$s Hw$b g`m &
Xmdm ZwH$gmZ EmBg-432
`m Bg ~mV H$m {X`m h {H$ H$Mm[a`m| H$mo XoZXm[a`m| Ho$ {bE Cg
mdYmZ Ogo n|eZ $S> , AdH$me ZH$XrH$aU Ed AmB.~r.EZ.Ama. d
AmB.~r.EZ.B.Ama. H$m ~rm{H$H$ y`mH$Z Ho$ AZwgma mdYmZ {H$`m
hm
h `m nr.Eg.`w mam ~rmH$H$ H$mo gQ>rH$ Ed nyU OmZH$mar CnbY
H$am`r h {OgH$m Cn`moJ ~rmH$H$ mam ~|MmH$ AZwmZm| Ogo Ny>Q>
H$s Xa, wm$s{V H$s Xa Am{X m`VmAm| Ho$ $n | {H$`m OmVm h &
3.
4.
B 2015 | ew$ hxB YmZr gwajm ~rm `moOZm (PMSBY) hm& H$nZr r{` d Xmdm| H$m gPmVo / `moOZm H$s eVm] Ho$ AZw{d{e> ~H$m| Ho$ gmW JR>OmoS> | r{` Ho$ boIm-OmoIm H$s {d{Y
gma boImH$Z {H$`m h &
Ama gy{MV Xmdo gPmVo / `moOZm H$s eVm] Ho$ AZwgma h
130
S.No
1.
2.
SUB DIRECTIONS
REPLY
Number of titles of ownership in respect of CGS/SGS/Bonds/

Debentures etc. available in physical/demat form and out of these Particulars
number of cases which are not in agreement with the respective
amounts shown in the Companys books of accounts may be Debentures
verified and discrepancy found may be suitably reported.
Reconciled
Un-reconciled
Restructuring
16
2
(Book Value ` 2)
A) Total number of Claims outstanding as on 31.03.2016
SUB DIRECTIONS ISSUED UNDER SECTION 143(5) OF

THE COMPANIES ACT, 2013 FOR THE YEAR 2015-16
296456
B) Number of Cases test checked out of A above.
42163-checked by Auditors at RO/DO Level
C)Percentage of Sample selected (A/B x 100)
14.22%
Number of cases where adequate provisions for claims outstanding have not been made or discrepancies are observed:
Number
Amount
2649
` 3870201 thousands. This short

provisioning has been rectified at
Regional/ Head Office.
768
` 749780 thousands. . This excess

provisioning has been rectified at
Regional/ Head Office.
a)Short Provision
b)Excess Provision
Due to other insurance companies

645
` 1271516 thousands. Confirmation

for the unconfirmed balances has
been sought by the company.
256
` 1003643 thousands. Confirmation

for the unconfirmed balances has
been sought by the company.
Due from other insurance companies
Total number of preliminary loss advices and claim loss advices In respect of ceded
In respect of Inward acceptances:
sent to the reinsurers in respect of reinsurance ceded business business:
Preliminary Loss advices-51
and received by the company in respect of reinsurance inward Preliminary Loss advices-40 Claim loss advices-471
acceptances.
Claim loss advices-432
3.
Whether there is an assurance that provision for employees

liabilities such as pension fund, leave encashment, gratuity
etc. and provision for IBNR & IBNER claims are as per actuarial
valuation. Whether accurate & complete data was provided
by the PSU to the Actuary and the benchmark used by Actuary
for assumptions such as discount rate, inflation rate etc. were
appropriate.
Yes
4. In case the Company is taking part in Pradhan Mantri Suraksha Yes. The company accounts the premium and claims as per the
Bima Yojana (PMSBY) launched in May 2015 tying up with specific conditions of the agreement / scheme.
banks, the method of accountal of premium and reported claims
are as per the conditions of the agreement/scheme.
131

Total number of cases of unconfirmed co-insurance balances in respect of premium/ Claims for:

5
Oo{Z{gg {gQ> | {Xg~a 2015 | ` 252.36 H$amoS>
(H$)& (302403 [aH$mS>) Ho$ ~H$m`m H$mb H$mo H$moa ~rm S>oQ>m~og
| {dWm{nV {H$`m J`m h `{X Zht, Vmo ImVmo na BgHo$ ^md
H$s {Q>nUr &
E- 2006 go nhbo :
{bJogr {gQ> (OoZo{gg) | H$mb ImVo H$m S>oQ>m ~og agrX H$s [aH$m{S>J
Ho$ {bò AZwa{jV aIm J`m Wm `h agrX H$s [aH$m{S>J Ho$ {bE {g$ EH$
kmnZ {d{> h&
r{` boImH$Z Ho$ {bò ZH$X / ~H$ ImVo H$mo S>o{~Q> H$a ~mX | {d{>`m|
H$s OmVr h nyd | CoI Ho$ AZwga `h gX^ Ho$ {bò kmnZ n{d{> h &
H$mb eof [anmoQ> | Bg Vah Ho$ g^r {d{>`m| o$ar Ho$ $n | n[ab{jV h&
H$mb H$s eof am{e-106966 ( [aH$mS> H$s g`m ) `.219.67 H$amoS>
H$s am{e H$m ImVm| | H$moB ^md Zht h&
`h S>oQ>m H$moa o n[ab{jV Zht {H$`m J`m h Ama Bg{bE, ImVm| | H$moB
^md Zht h ..
~r-2006 Ho ~mX :
Umbr H$mb Vm{bH$m Umbr | boIm {d{> Q>J H$aZo Ho$ {bE gemo{YV
{H$`m J`m Wm& Bg H$ma `h H$mb Vm{bH$m A~ {g$ kmnZ {d{>`m| H$s
EH$ Vm{bH$m h &
H$mb eof m H$aZo Ho$ {bò Cn`w$ "E' d "~r', [anmoQ> h AV: H$mb
Vm{bH$m o kmnZ {d{>`m| d gm`moOZ Ho$ ~mX eof em{b h
H$nZr ghr [anmoQ> Cn H$aZo, ghr gVwbZ H$mo {Vq~{~V H$aZo Ho$
{bE H$mb Vm{bH$m go kmnZ {d{>`m| H$mo Xya H$aZo Ho$ {bE Cn`w$ H$X
CR>mòJr &
Bg H$ma VwbZ n kmnZ {d{>`m| H$mo em{b {H$E {~Zm ghr H$mb eofm|
H$mo XemVm h &
5
`m Zr{V YmaH$m| H$mof (H$mb eof )Ho$ VbnQ> Ed Oo{Z{gg Oo{Z{gg Ogm {H$ D$na ~Vm`m J`m h,{H$ Oo{Z{gg Umbr o nm{bgrYmaH$
(I)& d H$moa Ho$ eofm| H$m {bmZ H$a {b`m J`m h `{X Zht Vmo,
{Z{Y Ho$ VbnQ> Ed boIm eofm| | H$moB AVa Zht h &
{~Zm gmYmZ Ho$ Zr{V YmaH$m| Ho$ H$mof H$m df Ho$ AZwgma
H$moa:
eof d ImVm| na BgHo$ ^md H$s {Q>nUr &
Bg ImVo | nS>r am{e Ho$ {bE boZXoZ dma {ddaU CnbY h& Bg H$ma
H$moa Umbr | {~Zm gmYmZ dmbr nm{bgrYmaH$ {Z{Y Zht h Ed boImo na
H$moB ^md Zht h&

gZXr boImH$ma
E\$AmaEZ 000511Eg
H$Vo _hmamO EZ.Ama. gwaoe ES >H$nZr

gZXr boImH$ma
E\$AmaEZ 01931Eg

gZXr boImH$ma
E\$AmaEZ 02510Eg

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
WmZ: Mo
{XZmH$ : 13 _B, 2016
132
A-Prior to 2006:
In the legacy system (GENISYS) Scroll Account was maintained in a table in
the data base in which the amounts received were populated. This is just a
memorandum entry for recording the receipt.
Accounting entries were passed subsequently in the accounts by debiting
cash/ Bank for accounting the premium without any reference / tagging to
the memorandum entry recorded as mentioned earlier.
5(a). Whether balance involving ` 252.36 crore (December

2015) shown as outstanding in the scroll account of the
legacy system- GENISYS (302403 records) was migrated
to CORE Insurance database, if not; its impact on the
accounts may be commented.
As such all the entries in the scroll table are reflected while querying for
the scroll balance report.
As such this portion of scroll balances-106966 (no. of records) amounting
to ` 219.67 crores does not have any impact in the accounts.
This data has not been migrated to CORE insurance and hence, there is no
impact in the accounts..
B-Post 2006:
Whenever, a query was run to get the scroll balance, the report populated
both A and B above. Thus now the Scroll table contains memorandum
entries and also balance if any, left after adjustment. To generate the correct
report, Company can initiate suitable steps to remove the memorandum
entries from the scroll table to reflect the correct balance.
Thus the trial balance reflects correct scroll balance without including the
memorandum entries
5(b). Whether the differences in policy-holders fund (scroll
balance) between the Trial Balance and the balances in
GENISYS and CORE were reconciled, if not; year wise unreconciled policy holders fund balance and its impact on
the accounts may be commented
Genisys
As explained above, there is no differences in policyholders fund Scroll
Balance between the Trial Balance and the Accounting Balances within
the Genisys System .
Core:
Transaction wise details for the amounts lying in this account are
available. Thus there is no un-reconciled policyholders fund balance in
CORE system. There is also no impact on the Accounts.
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
Place: Chennai
133

The system was modified to tag the accounting entry with the entry in
the scroll table. Thus this scroll table no longer remained just a table of
memorandum entries.

COMMENTS OF THE COMPTROLLER & AUDITOR GENERAL OF INDIA
31 _mM, 2016 H$mo g_mV df Ho$ {bò `wZmBQ>oS> B{S>`m B`yaog H$nZr {b{_Q>oS>, Mo Ho$ {dVr`
{ddaU na, H$nZr A{Y{Z`_ 2013 H$s Ymam 143(6) (~r) Ho$ AYrZ, ^maV Ho$ {Z`H$ d
_hmboImnarjH$ H$s {Q>nUr
31 _mM , 2016 H$mo g_mV df Ho$ {bò `wZmBQ>oS> B{S>`m B`yaog
H$nZr {b{_Q>oS> H$m {dVr` {ddaU H$nZr A{Y{Z`_ 1938 Ho$ gmW n{R>V
~r_m {d{Z`m_H Ama {dH$mg m{YH$aU (AmB Ama S>r E) (~r_m H$n{Z`m|
Ho$ {dVr` {ddaU Ama boIm narjm [anmoQ> H$s V`mar) {d{Z`_ 2002
Ama H$nZr A{Y{Z`_ 2013 H$o VhV {ZYm[aV {dVr` {ddaU gaMZm Ho$
AZwgma V`ma {H$`m J`m h ,Omo H$nZr Ho$ ~YZ H$m Xm{`d h & A{Y{Z`_
H$s Ymam 139(5) Ho$ VhV ^maV Ho$ {Z`H$ d _hmboImnarjH$ mam
{Z`wV gm{d{YH$ boIm narjH$ H$mo A{Y{Z`_ H$s Ymam 143(10) Ho$ VhV
{ZYm[aV boIm narjm Ed ~r_m _mZH$m| Ho$ AZwgma dV boIm narjm Ho$
AmYma na, A{Y{Z`_ H$s Ymam 143 H$o VhV AnZm _V H$Q> H$aZo H$s
{O_oXmar h & do boIm narjm {VdoXZ {XZmH$ 13 _B 2016 _| AnZm
_V H$Q> {H$ò h &
_ Zo ^maV Ho$ {Z`H$ d _hmboImnarjH$ H$s Amoa go `wZmBQ>oS> B{S>`m

B`yaog H$nZr {b{_Q>oS> Ho$ 31 _mM 2016 H$mo g_m df Ho$ {dVr`
{ddaU A{Y{Z`_ H$s Ymam 143 (6) (E) Ho$ AYrZ AZwnyaH$ boIm narjm
{H$`m & `h AZwnyaH$ boIm narjm gm{d{YH$ boIm narjH$m| Ho$ H$mJOmVm| H$mo
{bò {~Zm dV $n go {H$`m J`m VWm `h _ybV gm{d{YH$ boIm narjH$m|
H$s OmM Ed H$nZr H$m{_H$ Ama Hw$N> boIm A{^boIm| Ho$ MwZo Jò narjU
VH$ gr{_V h & _oar boIm narjm Ho$ AmYma na H$moB {d{eQ> {ddaU _oar
OmZH$mar _| Zht Am`r h {Oggo gm{d{YH$ boIm narjm {VdoXZ na `m
CgHo$ AZwnyaH$ na H$moB {Q>nU Zht H$aZr h &
H$Vo ^maV Ho$ {Z`H$ Ama _hm boImnarjH$

Ama CZH$s Va\$ go
(Or gwYma{_Zr)
YmZ {ZXoeH$, dm{U{`H$ boIm narjm

VWm nXoZ gX`, boIm narjm ~moS,>Mo
WmZ Mo 600 034
{XZmH$ 20 OyZ 2016
134
COMPANIES ACT, 2013 ON THE FINANCIAL STATEMENTS OF UNITED INDIA INSURANCE COMPANY LIMITED FOR
THE YEAR ENDED 31 MARCH, 2016
The preparation of financial statements of United India Insurance
I, on behalf of the Comptroller and Auditor General of India, have
Company Limited for the year ended 31 March 2016 in accordance
conducted a supplementary audit under Section 143(6)(a) of the
with the financial reporting framework prescribed under the
Act of the financial statements of United India Insurance Company
Insurance Act, 1938, read with the Insurance Regulatory &
Limited for the year ended 31 March 2016. This supplementary audit
Development Authority (Preparation of Financial Statements and
has been carried out independently without access to the working
Auditors Report of Insurance Companies) Regulations, 2002 and the
papers of the statutory auditors and is limited primarily to inquiries
Companies Act, 2013 (Act) is the responsibility of the management
of the Statutory Auditors and Company personnel and a selective
of the Company. The statutory auditors appointed by the Comptroller
examination of some of the accounting records. On the basis of my
and Auditor General of India under Section 139(5) of the Act are
audit, nothing significant has come to my knowledge which would
responsible for expressing opinion on the financial statements under
give rise to any comment upon or supplement to Statutory Auditors
Section 143 of the Act based on independent audit in accordance
report.
COMMENTS OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA UNDER SECTION 143(6) (b) OF THE
with the standards on auditing prescribed under Section 143(10) of

the Act. This is stated to have been done by them vide their Audit
For and on behalf of the

Comptroller & Auditor General of India,
(G. SUDHARMINI)
PRINCIPAL DIRECTOR OF COMMERCIAL AUDIT
AND EX-OFFICIO MEMBER AUDIT BOARD, CHENNAI
Place : Chennai
Date : 20 June 2016.
135

Report dated 13 May 2016.
`wZmBQ>oS> B{S>`m B`yaog H$nZr {b{_Q>oS> / UNITED INDIA INSURANCE COMPANY LIMITED
nOrH aU g`m : 545 / Registration No.: 545
ApZ ~r_m amOd ImVm 31 _mM 2016 H$mo g_m df Ho$ {bE
FIRE INSURANCE REVENUE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2016
{ddaU / Particulars
AZwgyMr / Schedule
A{OV r{_`_ (ew)
Premium earned (Net)
362098
(3563)
(347)
(857)
1526723
1448385
10047381
9870085
5875403
6065130
680466
577260
3363338
3294699
1777
1903
7364
11342
20941
35067
3996
9125
66804
(40131)
10020089
9954395
27292
(84310)
27292
(84310)
Sundry Balances written back (Net)
[d{Z_` go hm{Z /bm^
Exchange Loss / Gain
`mO, bm^me d {H$am`m -gH$b
Interest, Dividend & Rent Gross
Commission (Net)
~r_m go g~{YV MmbZ IM
Operating Expenses related to Insurance
A`/ Others
{Zdom go g~{YV IM
Expenses relating to Investments
{Zdoe H$s r{_`_ na n[aemoYZ
Amortisation of Premium on Investments

FIRE INSURANCE REVENUE ACCOUNT
m{gV {Zdoe go g~{YV ~Q>Q>o ImVo _| S>mbr J`r am{e
Amount written off in respect of depreciated investments
Aemo` Ama gpXY G$Um| Ho$ {bE mdYmZ

Provision for Bad and Doubtful Debts.
(` 000)
614162
dmng {b`m J`m {d{dY eof (ew)
H$_reZ (ew)
(` 000)
Year
8064022
Profit/Loss on sale/redemption of Investments(Net)
Claims Incurred (Net)
JV df / Previous
Year
7906843
{Zdoem| H$s {~H$s / AXm`Jr na bm^/hm{Z (mw)
Hw$b (A) / TOTAL (A)

CnJV Xmdo (ew)
Mmby df/Current
g{H$` $n go Z `mnm[aV gm`me Ho$ Ad_y`Z hoVw mdYmZ
Provision for diminution in the value of other than actively traded

Equities
Hw$b (Am) / TOTAL (B)

MmbZ bm^/(hm{Z) B = (A - Am)
Operating Profit / (Loss) C=(A-B)
{d{Z_`Z / APPROPRIATIONS
eoàYm[a`m| Ho$ ImVo H$mo AV[aV
Transfer to Shareholders Account
136
Transfer to Catastrophe Reserve
A` Ama{jV H$mo AV[aV
Transfer to Other Reserves
Hw$b (B ) / TOTAL (C)
27292
(84310)
~r_m A{Y{Z`_ 1938 H$s Ymam 40 gr (2) Ho$ AZwgma h_ EVXmam _m{UV H$aVo h {H$ h_mar gdm}V_ OmZH$mar Ama {ddmg Ho$ AZwgma ApZ ~r_m H$mamo~ma _|,
Mmho `j `m namoj $n go, H$ht ^r {H$E JE CnJV IM g^r A{Z ~r_m amOd ImVo _| IM Ho$ $n _| nyUV {dH${bV {H$ò Jò h &
_hm{dnpV Ama{jV H$mo AV[aV
As required by Section 40C(2) of Insurance Act 1938, we hereby certify that to the best of our knowledge and belief, all expenses wherever
incurred whether directly or indirectly in respect of Fire Insurance Business have been fully debited in the Fire Insurance Revenue account as expenses.
H$Vo {ZXoeH$ _S>b VWm CZH$s Va\$ go / For and on behalf of the Board
{_{bX IamV
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm
Alok Tandon
A V Girija Kumar
A Hoda
MILIND KHARAT
{ZXoeH$JU
A`j-gh-~Y {ZXoeH
CHAIRMAN-CUM-MANAGING DIRECTOR
dr.B.H$_b
V E KAIMAL
DIRECTORS
{dVr` gbmhH$ma
FINANCIAL ADVISOR
Eg. d|H$Q>am_Z
S VENKATARAMAN
H$nZr g{Md
COMPANY SECRETARY
h_mao gbZ {VdoXZ Ho$ AZwgma / Vide our report of date attached
H$Vo nX_Zm^Z a_Ur ES>am_mZwO_
gZXr boImH$ma
gZXr boImH$ma
E\$AmaEZ 01931Eg
E\$AmaEZ 02510Eg
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
WmZ: Mo
{XZmH$ : 13 _B, 2016
Place: Chennai
137


gZXr boImH$ma
E\$AmaEZ 000511Eg
nOrH aU g`m : 545 / Registration No.:545
g_wr ~r_m amOd ImVm 31 _mM 2016 H$mo g_m df Ho$ {bE
MARINE INSURANCE REVENUE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2016
{ddaU / Particulars
AZwgyMr / Schedule
A{OV r{_`_ (ew)
164643
(1078)
(78)
447008
430840
3612866
3639796
2065571
2586531
226963
291512
804108
1000958
805
865
3336
5157
9488
15945
1811
4149
30269
(18247)
3142351
3886870
470515
(247074)
470515
(247074)
[d{Z_` go hm{Z /bm^
Commission (Net)
A`/ Others
{Zdom go g~{YV IM

MARINE INSURANCE REVENUE ACCOUNT

(` 000)
278277
H$_reZ (ew)
(` 000)
Year
3045389
JV df / Previous
Year
2887659

CnJV Xmdo (ew)
Mmby df/Current

Equities

138
470515
(247074)
~r_m A{Y{Z`_ 1938 H$s Ymam 40 gr (2) Ho$ AZwgma h_ EVXmam _m{UV H$aVo h {H$ h_mar gdm}V_ OmZH$mar Ama {ddmg Ho$ AZwgma g_wr ~r_m H$mamo~ma _|,
Mmho `j `m namoj $n go, H$ht ^r JE CnJV IM , g^r g_wr ~r_m amOd ImVo _| IM Ho$ $n _| nyUV {dH${bV {H$ò Jò h&
As required by Section 40C(2) of Insurance Act 1938, we hereby certify that to the best of our knowledge and belief, all expenses wherever incurred
whether directly or indirectly in respect of Marine Insurance Business have been fully debited in the Marine Insurance Revenue account as expenses.
{_{bX IamV
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm
Alok Tandon
A V Girija Kumar
A Hoda
MILIND KHARAT
{ZXoeH$JU
A`j-gh-~Y {ZXoeH
dr.B.H$_b
V E KAIMAL
DIRECTORS
{dVr` gbmhH$ma
FINANCIAL ADVISOR
Eg. d|H$Q>am_Z
S VENKATARAMAN
H$nZr g{Md
COMPANY SECRETARY
gZXr boImH$ma
gZXr boImH$ma
E\$AmaEZ 01931Eg
E\$AmaEZ 02510Eg
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
WmZ: Mo
{XZmH$ : 13 _B, 2016
Place: Chennai
139


gZXr boImH$ma
E\$AmaEZ 000511Eg
{d{dY ~r_m amOd ImVm 31 _mM 2016 H$mo g_m df Ho$ {bE
MISCELLANEOUS INSURANCE REVENUE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2016
{ddaU / Particulars
AZwgyMr / Schedule
A{OV r{_`_ (ew)
3516787
(23886)
13345
11479
9716534
9263303
105212889
89820561
80069948
65778618
4226089
4444155
25073213
22190048
17502
18484
72523
110159
206250
340584
39358
88620
657954
(389767)
110362837
92580901
(5149948)
(2760340)
(5149948)
(2760340)
AVaU ewH Am{X
Transfer fees, etc.
Commission (Net)

MISCELLANEOUS INSURANCE REVENUE ACCOUNT
A`/ Others
{Zdom go g~{YV IM

(` 000)
6048857
H$_reZ (ew)
(` 000)
Year
77052878
JV df / Previous
Year
89434153

CnJV Xmdo (ew)
Mmby df/Current

Equities

140
(5149948)
(2760340)
~r_m A{Y{Z`_ 1938 H$s Ymam 40 gr (2) Ho$ AZwgma h_ EVXmam _m{UV H$aVo h {H$ h_mar gdm}V_ OmZH$mar Ama {ddmg Ho$ AZwgma {d{dY ~r_m
H$mamo~ma _|, Mmho `j `m namoj $n go, H$ht ^r {H$E JE CnJV IM , g^r {d{dY ~r_m amOd ImVo _| IM Ho$ $n _| nyUV {dH${bV {H$ò Jò h&
incurred whether directly or indirectly in respect of Miscellanous Insurance Business have been fully debited in the Miscellanous Insurance
Revenue account as expenses.
{_{bX IamV
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm
Alok Tandon
A V Girija Kumar
A Hoda
MILIND KHARAT
{ZXoeH$JU
A`j-gh-~Y {ZXoeH
dr.B.H$_b
V E KAIMAL
DIRECTORS
{dVr` gbmhH$ma
FINANCIAL ADVISOR
Eg. d|H$Q>am_Z
S VENKATARAMAN
H$nZr g{Md

gZXr boImH$ma
E\$AmaEZ 000511Eg
gZXr boImH$ma
gZXr boImH$ma
E\$AmaEZ 01931Eg
E\$AmaEZ 02510Eg
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
WmZ: Mo
{XZmH$ : 13 _B, 2016
Place: Chennai
141

COMPANY SECRETARY
bm^ Ama hm{Z ImVm 31 _mM 2016 H$mo g_m df Ho$ {bE
PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2016
Mmby df/Current
JV df / Previous
Year
Year
{ddaU / Particulars
AZwgyMr / Schedule
(` 000)
(` 000)
MmbZ bm^ / (hm{Z )
OPERATING PROFIT /(LOSS)
ApZ ~r_m / Fire Insurance
27292
(84310)
470515
(247074)
(5149948)
(2760340)
`mO,bm^me d {H$am`m - gH$b
4535494
4519942
{Zdoe H$s {~H$s na bm^
2822800
1713203
~QQo ImVo _o Smbr J`r eof / Sundry Balance written off
213377
n[agnpV`m| H$s {~H$s na bm^ / hm{Z VWm A` Am`
215734
133359
3135264
3274780
g{H$` $n go Z `mnm[aV gm`me Ho$ Ad_y`Z hoVw
307045
(189875)
g{XY G$Um| hoVw
125136
43171
6000
500
8168
9005
g_wr ~r_m / Marine Insurance

{d{dY ~r_m
Miscellaneous Insurance
{Zdoe go Am`
INCOME FROM INVESTMENTS

Interest, Dividend & Rent - Gross
Profit on sale of investments
KQ>mE {Zdoem| H$s {~H$s na hm{Z
Less: Loss on sale of investments
A` Am` /OTHER INCOME
Profit/Loss on sale of assets and other incomes

PROFIT AND LOSS ACCOUNT

mdYmZ (H$a Ho$ Abmdm)
PROVISIONS (Other than taxation)

For diminution in the value of investments
For doubtful debts
A` / OTHERS
A` IM/ OTHER EXPENSES
Ja ~r_m H$mamo~ma go g~{YV IM
Expenses other than those related to Insurance Business
142
{Zdoe r{_`_ na n[aemoYZ
33844
53664
m{gV {Zdoe go g~{YV ~Q>Q>o ImVo _| S>mbr J`r am{e`m
96250
165915
576443
82380
2558821
3192400
350800
181400
2095
5346
2205926
3005654
670000
610000
136170
121742
1399756
2273912
Balance carried forward to Balance Sheet
_yb Ama VabrH$V {V eoà go Am` (`.)

Basic and Diluted Earning per share (`.)
14.71
20.04
Bad Debts written off


H$a Ho$ nyd bm^ (B) = (A - Am)
Profit Before Tax (C ) = (A - B)
H$a Ho$ {bò mdYmZ
Provision for Taxation
JV dfm] go g~{YV H$a
Taxation relating to earlier years
H$a Ho$ ~mX bm^ ( B )

Profit After Tax (D)
~Q>Q>o ImVo _| S>mbm J`m Aemo` G$U
Vm{dV A{V_ bm^mm
Proposed final dividend
bm^mm {dVaU H$a
Dividend distribution tax
gm_m` Ama{jV H$mo AV[aV
Transferred to General Reserve
VwbZ n H$mo AV[aV eof
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm
{ZXoeH$JU
Alok Tandon
A V Girija Kumar
A Hoda
DIRECTORS

gZXr boImH$ma
E\$AmaEZ 000511Eg
{_{bX IamV / MILIND KHARAT
A`j-gh-~Y {ZXoeH /CHAIRMAN-CUM-MANAGING DIRECTOR
dr.B.H$_b / V E KAIMAL
{dVr` gbmhH$ma / FINANCIAL ADVISOR
Eg. d|H$Q>am_Z / S VENKATARAMAN
H$nZr g{Md / COMPANY SECRETARY
gZXr boImH$ma
gZXr boImH$ma
E\$AmaEZ 02510Eg
E\$AmaEZ 01931Eg
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
WmZ / Place : Mo / Chennai

{XZmH$ / Date: 13 _B, 2016 / 13th May, 2016
143
CA N Ramani
Partner

{d{Z`moOZ / APPROPRIATIONS
31 _mM 2016 Ho$ {XZ na H$m VwbZ n
BALANCE SHEET AS AT 31ST MARCH 2016
{ddaU / Particulars
AZwgyMr / Schedule
Mmby df/Current
JV df / Previous
(` 000)
(` 000)
Year
Year
{Z{Y H$m moV
SOURCES OF FUNDS
moà nyOr
SHARE CAPITAL
RESERVES AND SURPLUS
1500000
1500000
55811975
54390343
41358645
58872972
98670620
114763315
ghr _y` n[adVZ ImVm
FAIR VALUE CHANGE ACCOUNT
G$U / BORROWINGS
Hw$b/TOTAL
{Z{Y`m| H$m Cn`moJ
APPLICATION OF FUNDS
{Zdom
INVESTMENTS
232382394
241543745
G$m/LOANS
Wm`r n[agnpV`m
2894353
3115101
10
1443725
1404437
11
11937909
16175882
12
31422036
25027885
43359945
41203767
13
120537118
116433031
14
60872679
56070704
181409797
172503735
(138049852)
(131299968)
FIXED ASSETS
Mmby n[agnpV`m
CURRENT ASSETS
ZH$X Ama ~H$ eof

CASH AND BANK BALANCES
A{J_ Ama A` n[agnpV`m
ADVANCES AND OTHER ASSETS
CnHw$b (A)
SUB TOTAL (A)
Mmby Xo`VmE
CURRENT LIABILITIES
mdYmZ
PROVISIONS
Cn Hw$b (Am )
SUB TOTAL (B)
ew Mmby n[agnpV`m (B) = (A-Am)

NET CURRENT ASSETS (C)=(A-B)
144
MISCELLANEOUS EXPENDITURE (to the extent not written off or

adjusted)
15
98670620
114763315
bm^ Ama hm{Z ImVo _| Zm_o eof
DEBIT BALANCE IN PROFIT AND LOSS ACCOUNT
Hw$b / TOTAL
{d{dY IM ({OZH$mo ~Q>Q>o ImVo _| Zht S>mbm J`m `m g_m`mo{OV Zht

{H$`m J`m )
{_{bX IamV
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm
Alok Tandon
A V Girija Kumar
A Hoda
MILIND KHARAT
{ZXoeH$JU
A`j-gh-~Y {ZXoeH
dr.B.H$_b
V E KAIMAL
DIRECTORS
{dVr` gbmhH$ma
FINANCIAL ADVISOR
Eg. d|H$Q>am_Z
S VENKATARAMAN
H$nZr g{Md
COMPANY SECRETARY
gZXr boImH$ma
gZXr boImH$ma
E\$AmaEZ 01931Eg
E\$AmaEZ 02510Eg
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
WmZ: Mo
{XZmH$ : 13 _B, 2016
Place: Chennai
145


gZXr boImH$ma
E\$AmaEZ 000511Eg
31 _mM 2016 H mo AmH$p_H$ Xo`VmE / CONTINGENT LIABILITIES AS AT 31ST MARCH 2016

H$. g.
Current Year /Mmby
df Previous Year /JV df

(` 000)
(` 000)
{ddaU / Particulars
Sl.No
Am{eH$ $n _| MwH$Vm eoà / Partly Paid shares
nm{bgr Ho$ VhV A` Xmdo {Oh| H$nZr G$U Zht _mZVr / Claims, other than those
under policies, not acknowledged as debts
800
800
2362032
734728
NIL
NIL
NIL
NIL
4887659
4388701
eof ~r_mboIZ A{^~YZ (eoà Ama G$U nm| Ho$ g~Y _|) / Underwriting commit-
ments outstanding (in respect of Shares and Securities)
H$nZr mam `m CgH$s Amoa go Xr JB {V^y{V`m / Guarantees given by or on behalf
of the company
{ddmXnX dYm{ZH$ _mJ / Xo`Vmò {OgH$m mdYmZ Zht {H$`m J`m / Statutory de-
ImVo _| nwZ~u_m Xo`VmAm| Ho$ {bò mdYmZ Zht {H$`m J`m h / Reinsurance obligations to the extent not provided for in accounts
NIL
NIL
A` ({ddaUmZwgma) / Others (to be specified)
NIL
NIL
7250491
5124229
mands / liabilities in dispute, not provided for
Hw$b / Total
{dVr` {ddaU _| gp_{bV AZwgy{M`m / SCHEDULES FORMING PART OF FINANCIAL STATEMENTS

AZwgyMr - 1 - A{OV r{_`_ (ew) 31 _mM 2016 H$mo g_m df Ho$ {bE
SCHEDULE - 1 - PREMIUM EARNED (NET) FOR THE YEAR ENDED 31ST MARCH 2016
{ddaU

SCHEDULES FORMING PART OF FINANCIAL STATEMENT
Particulars
ApZ/ Fire
Mmby df / JV df /
Current
Year
Previous Year
g_wr / Marine
Mmby df / JV df /
Current
Year
Previous Year
{d{dY / Misc.
Mmby df / JV df /
Current
Year
Previous Year
(`000)
Hw$b / Total
Mmby df / JV df /
Current
Year
Previous Year
r{_`_
PREMIUM FROM
`j H$mamo~ma
Direct Business
13113873
12514935
4382790
5267302 105006967
89135095 122503630 106917332
1294683
1041505
153185
207046
1211594
1395909
2659462
2644460
6172346
5958052
1830366
2510358
10014805
7833161
18017517
16301571
8236210
7598388
2705609
2963990
96203756
82697843 107145575
93260221
(329367)
465634
182050
81399
(6769603)
(5644965)
(6916920)
(5097932)
7906843
8064022
2887659
3045389
89434153
77052878 100228655
88162289
OmoS>| drH$V nwZ~u_m
Add:Reinsurance
accepted
KQ>mE A{nV nwZ~u_m

Less :
ceded
Reinsurance
AXm {H$ò Jò ew Xmdo

Net Claims paid
Ag_m Omo{I_m| Ho$ {bò

{Z{Y _| n[adVZ hoVw
g_m`moOZ / Adjustment for change in
reserve for unexpired risks
A{OV r{_`_ (ew) /
Premium Earned
(Net)
146
SCHEDULE - 2 - CLAIMS INCURRED (NET) FOR THE YEAR ENDED 31ST MARCH 2016
{ddaU
Particulars
ApZ/ Fire
Mmby df / JV df /
Current
Year
Previous
Year
g_wr / Marine
Mmby df / JV df /
Current
Year
Previous
Year
{d{dY / Misc.
Mmby df / JV df /
Current
Year
Previous
Year
(`000)
Hw$b / Total
Mmby df / JV df /
Current
Year
Previous
Year
AXm {H$ò Jò Xmdo /CLAIMS PAID

`j H$mamo~ma / Direct Business
Add:Reinsurance accepted
KQ>mE A{nV nwZ~u_m
Less : Reinsurance ceded
AXm {H$ò Jò ew Xmdo

Net Claims paid
9204126
7682587
4057586
3276248
83367561
66114284
96629273
77073119
601988
446140
100244
95993
714994
1163900
1417226
1706033
5131454
3357864
2279483
1215082
8863550
5603460
16274487
10176406
4674660
4770863
1878347
2157159
75219005
61674724
81772012
68602746
24039777
17394821
7352513
7206167 110122775
993225
932733
372028
328125
1439732
1409135
2804985
2669993
15712639
10207935
3844292
3841267
28566410
19922742
48123341
33971944
9320363
8119619
3880249
3693025
82996097
78145155
96196709
89957799
17394822
17038935
7206167
7437856
96658762
87035672 121259751 111512463
932733
798599
328125
379944
1409135
1373053
2669993
2551596
10207935
11012182
3841267
4554147
19922743
14367464
33971945
29933793
8119620
6825352
3693025
3263653
78145154
74041261
89957799
84130266
5875403
6065130
2065571
2586531
80069948
65778618
88010922
74430279
AZwgyMr - 2 - CnJV Xmdo (ew)31 _mM 2016 H$mo g_m df Ho$ {bE
OmoS>| df H$s g_m{ na ~H$m`m

Xmdo -`j
Add : Claims Outstanding at the

end of the year - Direct
96658762 141515065 121259750
OmoS>| df H$s g_m{ na ~H$m`m

Xmdo - drH$V nwZ~u_m
Add : Claims Outstanding at the

end of the year- Reinsurance
accepted
Less : Claims Outstanding at the

end of the year- Reinsurance
ceded
OmoS >| df H$s g_m{ na ~H$m`m Xmdo-ew
Add : Claims Outstanding at
the end of the year-Net
KQ>mE df Ho$ Ama^ _| ~H$m`m

Xmdo-`j
Less: Outstanding Claims at the

beginning of the year - Direct
KQ>mE df Ho$ Ama^ _| ~H$m`m

Xmdo- drH$V nwZ~u_m
Less: Claims Outstanding at the

beginning of the year RI accepted
OmoS>| df Ho$ Ama^ _| ~H$m`m Xmdo

- A{nV nwZ~u_m
Add: Claims Outstanding at the

beginning of the year- RI ceded
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo

-ew
Less: Claims Outstanding at the

beginning of the year -Net
CnJV Xmdo (ew)
Claims incurred (Net)
147

KQ>mE df H$s g_m{ na ~H$m`m

Xmdo -A{nV nwZ~u_m
AZwgyMr - 3 - H$_reZ 31 _mM 2016 H$mo g_m df Ho$ {bE
SCHEDULE - 3 - COMMISSION FOR THE YEAR ENDED 31ST MARCH 2016
(`000)
ApZ/ Fire
g_wr / Marine
{d{dY / Misc.
Hw$b / Total
Mmby df JV df / Mmby df / JV df / Mmby df / JV df / Mmby df / JV df /
/Current Previous Current Previous Current Previous Current Previous
{ddaU
Particulars
Year
Year
Year
Year
Year
Year
Year
Year
820142
881426
320423
393708
5164133
5258247 6304698 6533381
820142
881426
320423
393708
5164133
5258247 6304698 6533381
278337
148803
30423
26891
216017
Less :Commission on Reinsurance ceded
418013
452969
123883
129087
1154061
968941 1695957 1550997
H$_rmZ (ew) / Commission (Net)
680466
577260
226963
291512
4226089
4444155 5133518 5312927
H$_reZ / COMMISSION
OmoS>| drH$V nwZ~u_m na H$_reZ
Add: Commission on Reinsurance accepted
KQ>mE A{nV nwZ~u_m na H$_reZ
154849
524777
330543
`dgm` m H$aZo Ho$ {bE CnJV `` (gH$b) H$m {ddaU
Break-up of the expenses (Gross) incurred to procure business to be furnished as per details indicated below:
EooOoQ> / Agents
Xbmb/Brokers
{ZJ_r` EoOogr / Corporate Agency

465439
440448
164830
215598
3183122
3306521 3813391 3962567
337221
287444
154634
160462
1884359
1083530 2376214 1531436
17482
153534
959
17648
96651
820142
881426
320423
393708
5164132
868196
115092 1039378
5258247 6304697 6533381
AZwgyMr - 4 - ~r_m H$mamo~ma go g~{YV MmbZ IM 31 _mM 2016 H$mo g_m df Ho$ {bE
SCHEDULE - 4 - OPERATING EXPENSES RELATED TO INSURANCE BUSINESS FOR THE YEAR ENDED
(`000)
31ST MARCH 2016
{ddaU
Particulars
ApZ/ Fire
g_wr / Marine
{d{dY / Misc.
Hw$b / Total
Mmby df / JV df / Mmby df JV df / Mmby df / JV df / Mmby df / JV df /
Current Previous /Current Previous
Current
Current
Previous
Previous Year
Year
Year
Year
Year
Year
Year
Year
2498430
2457746
591281
743817
18411411
16476149
21501122
19677712
79862
74379
18900
22510
588522
498621
687284
595510
8118
8402
1921
2542
59826
56323
69865
67267
Rents, rates & taxes
91185
105821
21580
32026
671962
709400
784727
847247
_a_V / Repairs
26901
24388
6366
7381
198236
163492
231503
195261
H$_Mm[a`m| H$m doVZ Ama H$`mU
Employees remuneration and Welfare
`mm, n[adhZ Ama Mmby dmhZ
Travel, conveyance and vehicle running
{ejU IM / Training Expenses

{H$am`m, Xa| Ama H$a
148
26598
27729
6295
8392
196006
185889
228899
222010
33863
33755
8014
10216
249540
226288
291417
270259
9597
12660
2271
3832
70720
84871
82588
101363
5098
4388
1207
1328
37565
29414
43870
35130
1. H$a g~{YV _m_bo / Taxation matters
2. ~r_m _m_bo / Insurance matters

3. ~YZ godmE VWm / Management
218
305
52
92
1607
2045
1877
2442
33351
49337
7893
14931
245770
330745
287014
395013
7347
5531
1739
1674
54144
37077
63230
44282
307
73
2265
22
2645
26
58453
65631
13834
19862
430749
439974
503036
525467
133209
165024
31525
49944
981645
1106284
1146379
1321252
229510
108304
54316
33559
1691305
755432
1975131
897295
121291
151296
36841
48851
1181940
1088022
1340072
1288169
1000958 25073213
22190048
29240659
26485705
Printing and Stationery
gMma / Communication
{d{Y Ama `dgm{`H$ ^ma
Legal and Professional charges
boIm narjH$ Ho$ ewH$, IM Am{X

Auditors fees, expenses etc.
1. boIm narjH$ Ho$ $n _| / a) as auditor

Am) gbmhH$ma Ho$ $n _| `m {H$gr A`
h{g`V _| (b) as advisor or in any other capacity,
_wU Ama boIZ gm_Jr
B) {H$gr A` h{g`V
c) any other capacity
{dkmnZ Ama OZ gMmaU
Advertisement and publicity
`mO Ama ~H$ ^ma
Interest and Bank Charges
r{_`_ ImVo na godm H$a
Service Tax on Premium A/c
_y`mg / Depreciation
AmCQ>gmoqgJ `x`
Outsourcing Expense
`yog `` / UMEX expenses

A`/ Others
Hw$b / Total
3363338 3294699 804108
AZwgyMr - 5 - 31 _mM 2016 H$mo eoà nyOr
SCHEDULE - 5 - SHARE CAPITAL AS AT 31ST MARCH 2016
(`000)
Mmby df /Current JV df /Previous Year

Year
{ddaU / Particulars
A{YH$V nyOr / Authorised Capital
200000000 gm`me eoà òH$ .10/- H$m / 200000000 Equity Shares of Rs.10/- each
2000000
2000000
1500000
1500000
{ZJ{_V nyOr / Issued Capital

150000000 gm`me eoà - òH$ . 10/- H$m (eoà r{_`_ ImVm Ama gm_m`
Ama{jV Ho$ nyOrH$aU go {ZJ{_V 14,63,74,857 gm`me eoà òH$ .10/- H$m ~moZg
eoà Bg_| gp_{bV h) / 150000000 Equity Shares of Rs.10/- each (includes 14,63,74,857
Equity Shares of Rs.10/- each issued as Bonus Shares by Capitalisation of General Reserve and
Share Premium Account)
149

in respect of
A{^XV nyOr / Subscribed Capital

150000000 gm`me eoà - òH$ . 10/- H$m (eoà r{_`_ ImVm Ama gm_m` Ama{jV
Ho$ nyOrH$aU go {ZJ{_V 14,63,74,857 ~moZg eoà Bg_| gp_{bV h )
150000000 Equity Shares of Rs.10/- each (includes 14,63,74,857 Equity Shares of Rs.10/- each
issued as Bonus Shares by Capitalisation of General Reserve and Share Premium Account)
1500000
1500000
1500000
1500000
KQ>mE AXV _mJ / Less: Calls unpaid

OmoS>| g_nhV gm`me eoà (_ybV XV am{e ) / Add : Equity Shares forfeited (Amount
orginally paid up)
1500000
1500000
_mJ nyOr / Called up Capital

150000000 gm`me eoà òH$ .10/- H$m (eoà r{_`_ ImVm Ama gm_m` Ama{jV Ho$
nyOrH$aU go {ZJ{_V 14,63,74,857 ~moZg eoà Bg_| gp_{bV h )
150000000 Equity Shares of Rs.10/- each (includes 14,63,74,857 Equity Shares of Rs.10/each issued as Bonus Shares by Capitalisation of General Reserve and Share Premium
Account)
KQ>mE g_ _y` gm`me eoàm| H$s dmngr IarX
Less : Par Value of Equity Shares bought back
KQ>mE ma{^H$ IM
Less : Preliminary Expenses
KQ>mE IM _| ~r_mboIZ `m eoàm| Ho$ AmXmZ na H$_reZ `m Xbmb H$_reZ em{_b h
Less: Expenses including commission on brokerage on Underwriting or subscription of

Shares
Hw$b / Total
AZwgyMr - 5 A- eoàYmaU H$m {V_mZ (~YZ mam `Wm _m{UV ) 31 _mM 2016 H$mo g_m Ad{Y Ho$ {bE
SCHEDULE - 5A - PATTERN OF SHARE HOLDING AS AT 31ST MARCH 2016

[As certified by the Management]
Mmby df / Current Year
{ddaU / Particulars
No. of Shares
gdYH$/ Promoters
^maVr` / Indian
^maV gaH$ma / Government of India
^maV gaH$ma Ho$ Zm_m[H$V gX` / Nominees of
No. of Shares
149999970
% of Holding
149999970
100%
Govt. of India
Hw$b / Total
JV df / Previous Year
% of Holding
100%
30
30
150000000
150000000
AZwgyMr - 6 - 31 _mM 2016 H$mo Ama{j{V`m VWm A{Yeof
SCHEDULE - 6 - RESERVES & SURPLUS AS AT 31ST MARCH 2016
(`000)
Mmby df / Current JV df /Previous Year

Year
{ddaU / Particulars
nyOr Ama{jV / Capital Reserve
nyOr n[aemoYZ Ama{jV / Capital Redemption Reserve
eoà r{_`_ / Share Premium
gm_m` Ama{jV (df Ho$ Ama^ _|) / General Reserve (Opening)
OmoS>|o bm^ Ama hm{Z ImVm go AV[aV / Add: Transfer from Profit & Loss Account
150
13589
13589
54250507
51976595
1399756
2273912
Add: Contingency Reserve for Unexpired Risk Transferred to General Reserve
df Ho$ AV m|/ Closing Balance

_hm{dnpV Ama{jV / Catastrophe Reserve
A` Ama{jV - {Zdoe Ama{jV / Other Reserves - Investment Reserve
{dXoer _wXm go[fV Ama{jV -(df Ho$ Ama^ _|) / Foreign Currency Translation Reserve
df Ho$ XmamZ OmoS>|o / Addition during the year
df Ho$ AV m| / Closing Balance
bm^ Ama hm{Z ImVo _| eof bm^ / Balance of Profit in Profit & Loss Account
Hw$b / TOTAL
55650263
54250507
8628
8628
117619
106468
21876
11151
139495
117619
55811975
54390343
OmoS>|o gm_m` Ama{jV H$mo AV[aV Ja g_m Omo{I_m| hoVw AmH$p_H$ Ama{jV
AZwgyMr - 7 - 31 _mM 2016 H$mo CYma
SCHEDULE - 7 - BORROWINGS AS AT 31ST MARCH 2016

{ddaU / Particulars
(`000)
G$U n /~mS> / Debentures / Bonds

~H$ / Banks
{dVr` gWm`| / Financial Institutions
Hw$b / TOTAL
JV df /Previous Year
0
AZwgyMr - 8 - {Zdoe 31 _mM 2016 H$mo
SCHEDULE-8-INVESTMENTS AS AT 31ST MARCH 2016

{ddaU / Particulars
{Zdoe / INVESTMENTS
XrKH$mbrZ {Zdoe / LONG TERM INVESTMENTS
gaH$mar {V^y{V`m Ama gaH$mar `m^yV ~mS> {Og_| gaH$mar hS>r ^r em{_b h
61457818
57763951
10475
10475
81113493
87259939
5076
5076
18740663
22474691
185288
762
Government securities and Government guaranteed bonds including Treasury Bills .
A` AZw_mo{XV {V^y{V`m / Other Approved Securities

A` {Zdoe / Other investments
1. moà / Shares
(aa) gm`me / Equity
(bb) A{Y_mZ / Preference
(b) `wMwAb \$S>/ Mutual Funds
(c) `wn XVmdoO /Derivative Instruments
(d) G$Un VWm ~mS>/Debentures and Bonds
(e) A` {V^y{V`m/Other Securities
(f) {Z`{V H$nZr / Subsidiaries*
(g) {Zdoe gnpV`m - gnXm / Investment Properties Real Estates
151

(`000)
Mmby df / Current JV df /Previous Year

Year
AmYma^yV Vmm gm_m{OH$ mo _| {Zdoe / Investments in Infrastructure and Social Sector
50426303
51784113
Ja AZw_mo{XV {Zdoe / Other than Approved Investments
10026965
8990300
221966081
228289307
2623377
5442266
(a)moà / Shares
(aa) gm`me / Equity
(bb) A{Y_mZ /Preference
1937872
1691574
1272783
1349168
(e) A` {V^y{V`m / Other Securities
(f) {Z`{V H$nZr /Subsidiaries
(g) {Zdoe gnpV`m - gnXm -/ Investment Properties Real Estates
4082281
4190977
500000
580453
10416313
13254438
232382394
241543745
ImVm _y` /
139699409
137656281
~mOma _y` /
141736042
141492293
Cn Hw$b /SUB TOTAL

AnH$mbrZ {Zdoe / SHORT TERM INVESTMENTS
gaH$mar {V^y{V`m Ama gaH$mar `m^yV ~mS> {Og_| gaH$mar hS>r ^r em{_b h
Government securities and Government guaranteed bonds including Treasury Bills
A` AZw_mo{XV {V^y{V`m / Other Approved Securities

A` {Zdoe / Other investments
(b) `wMwAb \$S>/ Mutual Funds

(c) `wn XVmdoO /Derivative Instruments
(d) G$Un VWm ~mS>/Debentures and Bonds
AmYma^yV Vmm gm_m{OH$ mo _| {Zdoe / Investments in Infrastructure and Social Sector


Cn Hw$b /SUB TOTAL
Hw$b /TOTAL
Ja A{H$V gm`me {V^y{V`m Ed `wn XVmdoOm| Ho Abmdm H$nZr H$m
gnym {Zdoe / Aggregate amount of Companys Investment other
than listed equity securities and derivative instruments
Book Value
Market Value
ZmoQ>: AZw_mo{XV {Zdoe Ho$ Abmdm B\$mQ>Ma {Zdoe ` 3511918 hOmam| Ama (XrKmd{Y) Amdmg _| ` 5,00,000 hOmam| (bKw Ad{Y) {Zdoe ey` em{_b h &
Note: Other than Approved Investments comprises of Infrastructure Investment of ` 3511918 thousands (Long term) and ` 500000 thousands
(Short term); Investment in Housing - NIL
185288 hOmamo _o [ZZ[b[IV g[_[bV h/ *Subsidiaries `. 185288 thousands includes; /

A. [Z`[V H nZr / A. Subsidiaries
(1) Oo[ZW go`y[aQrO BdoQ_oQg {b. - `. 762 hOmamo Zenith Securities and Investments Ltd. - `. 762 thousands;
Am. g~ H nZr / B. Associate Companies
(2) hoW B`yaog Qr nr E Am B[S`m {b. - ` 166250 hOmamo / Health Insurance TPA of India Ltd. - `. 166250 thousands;
(3) B[S`m BQaZoZb B`waog m. [b., qgJmnwa-`18276 hOmamo / India International Insurance Pte. Ltd., Singapore - `. 18276 thousands
*[Z`[V `.
152
SL.NO
1
PARTICULARS
Current Year
G$U /LOANS
{V^y[V Ho$ AmYma na dJuH$aU / SECURITYWISE CLASSIFICATION
{V^yV / Secured
(A) gnpV Ho$ ~YH$ na / a) On mortgage of Property
(AA) ^maV _| / (aa) In India
(AAm) ^maV Ho$ ~mha / (ab) Outside India
(Am) moà, ~mS> , gaH$ma H$s {V^y{V`m| _|o / (b) On Shares, Bonds, Govt. Securities
(` 000s)
Previous Year
1776674
1870709
0
0
933593
184086
2894353
0
0
1059926
184466
3115101
(B) A` (gaH$ma mam `m^yV G$U ) / (c) On Others (Govt. Guaranteed Loans)
A{V^yV / Unsecured
Hw$b / TOTAL
2
G$UH$Vm Ho$ AmYma na dJuH$aU / BORROWER-WISE CLASSIFICATION
933593
1059926
(A). Ho$r` VWm am` gaH$ma| / (a) Central and State Governments
0
0
(Am) ~H$ VWm {dVr` gWm`| / (b) Banks and Financial Institutions
0
0
(B) {Z`{V H$nZr / (c) Subsidiaries
442453
459557
(B) Ammo{JH$ CnH$_ (d) Industrial Undertakings
0
0
(C) hS>H$mo H$mo G$U / (e) Loans to HUDCO
1518307
1595618
(D) A` - H$_Mmar Amdmg G$U / (f) Others - Employees Housing Loan #
2894353
3115101
Hw$b / TOTAL
3
{ZnmXZ Ho AmYma dJuH$aU/PERFORMANCE-WISE CLASSIFICATION
(A) _mZH$ G$U / (a) Loans classified as standard
2722507
2940045
(A A) ^maV _| / (a a) In India
0
0
(AAm) ^maV Ho$ ~mha / (ab) Outside India
0
0
(Am) Ja {ZnmXZ G$U / (b) Non-performing loans
171846
175056
(AA ) ^maV _| / (aa) In India*
0
0
(AmAm) ^maV Ho$ ~mha / (bb) Outside India
2894353
3115101
Hw$b / TOTAL
4
n[andVm Ho$ AmYma na dJuH$aU / MATURITY-WISE CLASSIFICATIO
143948
148333
(A ) AnH$mbrZ / (a) Short Term
2750405
2966768
(Am) XrKH$mbrZ / (b) Long Term
2894353
3115101
Hw$b / TOTAL
ZmoQ> : *AZwgyMr 14 _| Aemo` VWm g{XY G$U Ho$ VhV Ja {ZnmXZ G$U Ho$ {bE `. 171846 (JV df . 180285) H$m mdYmZ {H$`m J`m h &
1. Ja {Znm{XV G$U H$m mdYmZ - ` 171846
2. `171846 G$U g{XY _mZm J`m h Ama CV G$U hoVw ` 171846 mdYmZ {H$`m J`m &
^maVr` [aOd ~H$ Ho$ {ZX}e Ho$ AZwgma ` 6713 (` 7009) H$m mdYmZ {H$`m J`m h Omo mZH$ n[agn{m`m| H$r am{e `1678187 na 0.4% h &
Notes: * Provision of ` 171846 (previous year ` 180285) against non performing loans is grouped under Provision for Bad & Doubtful Debts in
Schedule 14.
(` 000)
1. Provision against non-performing loans
171846
2. Loans considered as doubtful & loss assets and Provision created against such loans
171846
# Pursuant to RBI Guidelines a provision of ` 6713 (` 7009) is made, being 0.4 % on standard assets of ` 1678187
153
SCHEDULE 9 LOANS AS AT 31ST MARCH 2016

AZwgyMr- 9 - G$U 31 _mM 2016 H$mo
AZwgyMr - 10 - Wm`r n[agn{V`m 31 _mM 2016 H$mo
SCHEDULE - 10: FIXED ASSETS AS AT 31ST MARCH 2016

Particulars
Ama^ _|
Opening
OmoS>| /
AVaU
H$Q>mVr /
AVaU
JV df
VH$
AV _|
Additions / Deductions
Transfers / Transfers
Closing
ew bmH$ / NET
_y`mg / DEPRECIATION
df Ho$
{bE
{~H$s na/
g_m`moOZ
Upto last
year
For the
year
On Sales /
Adjustments
BLOCK
df Ho$
AV na
VmarI
VH$
To Date
JV df
Previous
As at year
year
end
591146
149853
740999
435439
104860
540299
200700
155707
gnpV-dm{_d
43455
73525
116971
116971
43455
nQ>Q>o H$s gnpV
2642
2642
803
24
827
1815
1839
Leasehold Properties
113871
113871
55305
1485
56790
57081
58566
^dZ / Building*
590953
15428
606381
403848
3984
407832
198549
187105
Ag~md & gOm

gm_Jr
330481
29150
7841
351790
266472
20592
7053
280011
71779
64009
2362225
93586
41003
2414808 2110794
156069
41637 2225226
189582
251431
dmhZ / Vehicles
750088
166427
149100
767415
350807
146176
104899
392084
375331
399281
H$m`mb` CnH$aU
123451
13009
25176
111284
104259
10934
24569
90624
20660
19192
A`-{dwV
CnH$aU
544599
26876
14188
557287
376622
46829
12853
410598
146689
167977
A` n[agnpV`m
165697
21078
2431
184344
109822
12083
2129
119776
64568
55875
5618608
588932
239748
5967792 4214171
503036
JwS>{db/Goodwill
A`j
Intangibles
Land-Freehold
Land-Leasehold
nQ>Q>o H$s gnpV`m

bmJV / gH$b bmH$ / COST / GROSS BLOCK
(` 000)
Furniture & Fittings
gyMZm mmo{JH$s
CnH$aU
Information
Technology
Equipment
Office Equipment
Others-Electrical
Equipments
Other Assets
Hw$b / TOTAL
154
193140 4524067
1443725 1404437
Hw$b `moJ
5618608
588932
JV df
4960894
826376
Work -in -Progress

Grand Total
Previous Year
239748
5967792 4214171
503036
193140 4524067
1443725 1404437
168662
5618608 3815759
525466
127054 4214171
1404437
Mmby H$m`
ZmoQ> * H$nZr A{Y{Z` 2013 H$s AZwgyMr II Ho$ ZmoQ> 4 Ho$ AZwgma ^y{ H$m y`, ^dZ Ho$ y` go AbJ {H$`m J`m h Ama y` mg VXmZwgma
n[aH${bV {H$`m J`m h & AV: Bg df H m y` mg ` 6344 hOma go H$ hAm h &
*Note: As per note 4 of Schedule II of The Companies Act, 2013 the value of land has been segregated from the value of the building and
depreciation is calculated accordingly. Hence depreciation for the year is lower by ` 6344 thousands
AZwgyMr - 11 - 31 _mM 2016 H$mo ZH$X Ed ~H$ eof
SCHEDULE - 11 - CASH AND BANK BALANCES AS AT 31ST MARCH 2016
(` 000)
Mmby df
JV df
Current Year
ZH$X (MoH$, S>mQ> Ama Q>mn H$mo {_bmH$a)
Cash (including cheques, drafts and stamps)
~H$ eof / Bank Balances

O_m mmVo / Deposits Accounts
AnH$mbrZ (12 _hrZo Ho$ AXa Xo`) / Short -term (due within 12 months)
A`/ Others
Mmby ImVo / Current Accounts
A` - _mJW ofUmE / Others Remittance in transit
g{j Zmo{Q>g Ama _mJo OmZodmbr am{e / Money at Call and Short Notice
A` gWmZ Ho$ gmm / With other Institutions
Hw$b / TOTAL
~H$ eof _| Ja amQ>r`H$V ~H$m| Ho$ gmW eof gp_{bV h &
Previous Year
2108263
1747865
4709248
8163432
4612046
5789187
8785
125912
499567
349486
11937909
16175882
3729
4663
Balances with Non-Scheduled Banks included in Bank Balances
AZwgyMr - 12 - 31 _mM 2016 H$mo A{J_ Ama A` n[agnpV`m
SCHEDULE - 12 - ADVANCES AND OTHER ASSETS AS AT 31ST MARCH 2016

Mmby df
{ddaU / Particulars
(` 000)
JV df
Current Year
Previous Year
A{J_ / ADVANCES
AnUH$mar H$n[Z`m| Ho$ nmg Ama{jV O_m/Reserve Deposits with ceding companies
{Zdoe Ho$ {bE AmdoXZ am{e / Application money for investments
nyd AXm`Jr / Prepayments
{ZXoeH$m| /A{YH$m[a`m| H$mo A{J_ / Advances to Directors/Officers
155
6962034
3314502
5160
75239
53620
403
399

{ddaU / Particulars
A{J_ H$a ^wJVmZ Ama gmoV na H$mQ>m J`m H$a (H$a Ho$ {bò e mdYmZ)
Advance tax paid and Taxes Deducted at Source (Net of provision for taxation)
1960122
1314614
282526
315490
9280324
5003785
A` n[agnpV`m / OTHER ASSETS

{Zdoe go Cnm{OV Am` / Income accrued on investments
5252608
5199398
363750
525262
11576
10028906
8248909
123206
6496448
5915007
742
22141712
20024100
31422036
25027885
A` /Others
H$_Mmar A{J_ Ama G$U (`.1130 g{XYs mZm J`m)
Staff Advances and Loans (`. 1130 considered doubtful)
~H$m`m r{_`_ (` 228 g{XYs mZm J`m)
Outstanding Premiums (` 228 considered doubtful)
A{^H$VmAm| H$m eof / Agents Balances

~r_m Ed nwZ~u_m H$mamo~ma H$aZodmbr A` H$n{Z`m| go m` am{e`m (` 919613 g{XYs mZm J`m)
Due from other entities carrying on insurance business (including reinsurers) (` 919613
considered doubtful)
^maVr` [aOd ~H$ Ho$ nmg O_m (~r_m A{Y{Z`_ 1938 H$s Ymam 7 Ho$ AVJV)
Deposit with Reserve Bank of India (Pursuant to section 7 of Insurance Act, 1938)
A` / Others
O_m, A{J_ Ama A` boIm (` 24414 g{XYs mZm J`m)
Deposits, Advances & Other Accounts (Rs.24414 considered doubtful)
AVa H$m`mb` g_m`moOZ (ew ) / Inter Office Adjustments (Net)

Hw$b (Am)/ TOTAL (B)

Hw$b (A + Am)/TOTAL (A + B)
AZwgyMr - 13 - 31 _mM 2016 H$mo Mmby Xo`VmE
SCHEDULE - 13 - CURRENT LIABILITIES AS AT 31ST MARCH 2016
(` 000)
Mmby df
{ddaU / Particulars
JV df
Current Year
A{^H$VmAm| H$o eof / Agents Balances

A` ~r_m H$n{Z`m| H$mo Xo` am{e / Balances due to other insurance companies
A{nV nwZ~u_m na O_m am{e / Deposits held on re-insurance ceded
A{J_ m r{_`_ / Premiums received in Advance
A{d{Z`mo{OV r{_`_/ Unallocated Premium
{d{dY boZXma / Sundry Creditors
{Z`{V / {Z`H$ H$n{Z`m| H$mo Xo` / Due to subsidiaries / holding company
~H$m`m Xmdo/ Claims Outstanding
A{YH$m[a`m| / {ZXoeH$m| H$mo Xo` / Due to Officers/Directors
A` / Others
^yVnyd eoàYm[a`m| H$s {Z{Y / Former Share Holders Fund
AVa H$m`mb` g_m`moOZ (ew ) / Inter Office Adjustments (Net)
156
Previous Year
1271094
1526152
5651897
6330430
34307
56502
974899
1946817
14969969
15194445
96196708
89957799
1330
1330
UNCLAIMED AMOUNT OF POLICYHOLDERS:
Cheques issued but not encashed by Insured/Policy holder
Hw$b / TOTAL
411996
404786
1024918
1014770
120537118
116433031
AZwgyMr - 14 - 31 _mM 2016 H$mo mdYmZ
SCHEDULE - 14 - PROVISIONS AS AT 31ST MARCH 2016
(` 000)
Mmby df
{ddaU / Particulars
JV df
Current Year
Ag_m Omo{I_m| Ho$ {bò Ama{jV / Reserve for Unexpired Risk

Vm{dV bm^me hoVw / For proposed dividends
bm^me {dVaU na H$a / For dividend distribution tax
Provision for diminution in value of other than actively traded Equities
Jwn _o{S>bo_ nm{bgr Ho$ {bE mdYmZ / Provision for Group Mediclaim Policy
AdH$me H$m ZH$XrH$aU hoVw / For Leave Encashment
H$_Mmar AnH$m{bZ gw{dYm Ho$ {bò mdYmZ / Provision for Employee Short term Benefits
{M{H$gm/ Nw>>r Ho$ {bE mdYmZ / Provision for Sick Leave
doVZ ~H$m`m hoVw / For Wage Arrears
G$U, {Zdoe Ama A` n[agnpV`m| hoVw / For Loans, Investments and Other Assets
Hw$b / TOTAL
Previous Year
54125736
47208816
670000
610000
136170
121742
1190691
128619
35000
25000
2480000
2220000
67500
67500
30000
3726500
2137582
1962527
60872679
56070704
AZwgMy r - 15-31 _mM 2016 H$mo {d{dY IM ({OZH$mo ~Q>Q>o ImVo _| Zht S>mbm J`m `m g_m`mo{OV Zht {H$`m J`m )
SCHEDULE - 15 - MISCELLANEOUS EXPENDITURE AS AT 31ST MARCH 2016
(to the extent not written off or adjusted)
Mmby df
{ddaU / Particulars
JV df
Current Year
eoà/G$U n Ho$ Omar _| XmZ H$r J`r Ny>Q>
(` 000)
Previous Year
Discount allowed in issue of shares/debentures
A` ({ddaUmZwgma ) / Other (to be specified)

Hw$b / TOTAL
157

Am{Y` dgybr/dmngr r{_`_ / Excess Collection / Refund Premium

Omar MoH$ H$mo ~r_mYmaH$ / nm{bgrYmaH$ mam O_m Zht {H$`m J`m
nm{bgrYmaH$m| H$s AXm[dV am{e
[d^mOZ [VdoXZ
`wZmBQ>oS> B{S>`m B`yaog H$nZr {b{_Q>oS>
nOsHaU g`m.:545
31 _mM 2016 H$mo g_m df Ho$ {bò _Xdma {d^mOZ [anmoQ>
ApZ / Fire
{ddaU / Particulars
Mmby df /
Current Year
g_wr Zm^ma / Marine Cargo
JV df / Previous
Year
Mmby df /
Current Year
JV df /
Previous Year
r{_`_ / PREMIUM FROM
13113873
12514935
2540614
2821435
OmoS>| drH$V nwZ~u_m / Add: Reinsurance accepted
1294683
1041505
1751
7120
KQ>mE A{nV nwZ~u_m / Less: Reinsurance Ceded
6172346
5958052
367371
500901
ew r{_`_ / Net Premium
8236210
7598388
2174994
2327654
Ag_m Omo{I_m| Ho$ {bò {Z{Y _| n[adVZ hoVw g_m`moOZ / Adjustment for change in reserve for unexpired risks
(329367)
465634
76330
66392
A{OV r{_`_ (ew) / Premium Earned (Net)
7906843
8064022
2251324
2394046
9204126
7682587
1957174
2121760
AXm {H$ò Jò Xmdo / CLAIMS PAID

601988
446140
3844
20918
A{nV nwZ~u_m / Less: Reinsurance ceded
5131454
3357864
646063
379494
AXm {H$ò Jò ew Xmdo / Net Claims paid
4674660
4770863
1314955
1763184
24039777
17394821
2994198
3603676
OmoS>| df H$s g_m{ na ~H$m`m Xmdo - `j / Add: Claims Outstanding at the end of the year - Direct
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - drH$V nwZ~u_m / Add: Claims Outstanding at the end of the year - RI Accepted
KQ>mE df H$s g_m{ na ~H$m`m Xmdo- A{nV nwZ~u_m / Less: Claims outstanding at the end of the year - RI Ceded
OmoS>| df H$s g_m{ na ~H$m`m - ew / Add: Claims Outstanding at the end of the Year - Net
993225
932733
55926
50938
15712639
10207935
460651
1071869
9320363
8119619
2589473
2582745
17394822
17038935
3603676
3444397
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo- drH$V nwZ~u_m / Less: Claims outstanding at the beginning of the year - RI Accepted
932733
798599
50938
35330
OmoS >| df Ho$ Ama^ _| ~H$m`m Xmdo - A{nV nwZ~u_m / Add: Claims outstanding at the beginning of the year - RI Ceded
10207935
11012182
1071869
1207242
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo ew / Less: Claims outstanding at the beginning of the year - Net
8119620
6825352
2582745
2272485
CnJV Xmd| (ew) / Claims Incurred (Net)
5875403
6065130
1321683
2073444
820142
881426
272571
352820
H$wb (A ) / TOTAL (A)
820142
881426
272571
352820
OmoS>| drH$V nwZ~u_m na H$_reZ / Add: Commission on Reinsurance Accepted
278337
148803
(882)
1347
KQ>mE A{nV nwZ~u_m na H$_reZ / Less: Commission on Reinsurance Ceded
418013
452969
29905
32324
680466
577260
241784
321843
EOoQ> / Agents
465439
440448
154029
201587
Xbmb / Brokers
337221
287444
117676
138392
17482
153534
866
12841
820142
881426
272571
352820
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo- `j / Less: Outstanding claims at the beginning of the year - Direct

SEGMENTAL REPORT
H$_reZ / COMMISSION
`dgm` m H$aZo Ho$ {bE CnJV `` (gH$b) H$m {ddaU & / Break-up of the expenses
(Gross) incurred to procurebusiness to be furnished as per details indicated below:
{ZJ_r` EOogr / Corporate Agency

V E KAIMAL
S VENKATARAMAN
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
158
Registration No.:545
SEGMENTAL REPORT - BREAKUP FOR THE YEAR ENDED 31ST MARCH 2016
g_wr nmoV / Marine Hull
Mmby df / Current
Year
Hw$b g_wr / Marine Total
JV df / Previous
Year
Mmby df / Current
Year
(` 000)
Hw$b {d{dY / Total Misc.
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
1842176
2445867
4382790
5267302
105006967
89135095
151434
199926
153185
207046
1211594
1395909
1462995
2009457
1830366
2510358
10014805
7833161
530615
636336
2705609
2963990
96203756
82697843
105720
15007
182050
81399
(6769603)
(5644965)
636335
651343
2887659
3045389
89434153
77052878
2100412
1154488
4057586
3276248
83367561
66114284
96400
75075
100244
95993
714994
1163900
1633420
835588
2279483
1215082
8863550
5603460
563392
393975
1878347
2157159
75219005
61674724
4358315
3602491
7352513
7206167
110122775
96658762
316102
277187
372028
328125
1439732
1409135
3383641
2769398
3844292
3841267
28566410
19922742
1290776
1110280
3880249
3693025
82996097
78145155
3602491
3993459
7206167
7437856
96658762
87035672
277187
344614
328125
379944
1409135
1373053
2769398
3346905
3841267
4554147
19922743
14367464
1110280
991168
3693025
3263653
78145154
74041261
743888
513087
2065571
2586531
80069948
65778618
47852
40888
320423
393708
5164133
5258247
47852
40888
320423
393708
5164133
5258247
31305
25544
30423
26891
216017
154849
93978
96763
123883
129087
1154061
968941
(14821)
(30331)
226963
291512
4226089
4444155
10801
14011
164830
215598
3183122
3306521
36958
22070
154634
160462
1884359
1083530
93
4807
959
17648
96651
868196
47852
40888
320423
393708
5164132
5258247
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
159

SEGMENTAL REPORT
SEGMENTAL REPORT

nOsHaU g`m.:545
31 _mM 2016 H$mo g_m df Ho$ {bò {d{dY {d^mJm| H$r _Xdma {d^mOZ [anmoQ>
_moQ>a {ZOr j{V / Motor OD
{ddaU / Particulars
Mmby df /
Current Year
_moQ>a VVr` nj / Motor TP
JV df /
Previous Year
Mmby df /
Current Year
JV df /
Previous Year
17128297

16736400
29417368
24234423
870753
839801
1502064
1229122
16257544
15896599
27915304
23005301
(180472)
(365873)
(2455001)
(1864739)
16077072
15530726
25460303
21140562
10872142
9102776
13758372
10468599
262
453
850505
828154
1380195
1230906
10021637
8274622
12378439
9238146
4875753
3685213
47774828
38019552
1956
6771

KQ>mE A{nV nwZ~u_m / Less: Reinsurance ceded
308007
288751
7924185
4289843
4567746
3396462
39852599
33736480
3685213
3107542
38019552
30877883
4754
6771
1134
288751
238390
4289843
4162644
3396462
2873906
33736480
26716373
11192921
8797178
18494558
16258253
1298429
1478968
(101)
1298429
1478968
(101)
KQ>mE df H$s g_m{ na ~H$m` Xmdo- A{nV nwZ~u_m / Less: Claims outstanding at the end of the year - RI Ceded

H$_reZ / COMMISSION

SEGMENTAL REPORT
129118
125525
73543
88395
1169311
1353443
(73543)
(88496)
EOoQ> / Agents
1132327
1245415
-101
Xbmb / Brokers
160074
182952
6028
50601
1298429
1478968
-101


V E KAIMAL
S VENKATARAMAN
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
160
_moQ>a A.Xm. nyb / Motor DR Pool
Mmby df / Current
Year
_moQ>a V Vr` nj nyb / Motor TP Pool
JV df / Previous
Year
739777
Mmby df / Current
Year
720851
_moQ>a Hw$b / Motor Total
JV df / Previous
Year
0
(` 000)
Mmby df / Current
Year
0
JV df / Previous
Year
47285442
41691674
89385
89385
591821
576681
2964638
2645604
237341
144170
44410189
39046070
(46585)
6954
(2682058)
(2223658)
190756
151124
41728131
36822412
292593
174486
5290479
5565535
30213586
25311396
164468
164730
453
234074
139589
2464774
2198649
222987
34897
5290479
5565535
27913542
23113200
4966665
3833191
22106704
27397183
79723950
72935139
1956
6771
3973332
3066553
12205524
7645147
993333
766638
22106704
27397183
67520382
65296763
3833191
3022827
27397183
32962718
72935139
69970970
6771
5888
3066553
2418261
7645147
6819295
766638
604566
27397183
32962718
65296763
63157563
449682
196969
30137161
25252400
1298429
1478867
1298429
1478867
202661
213920
1095768
1264947
1132327
1245314
160074
182952
6028
50601
1298429
1478867
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
161

SEGMENTAL REPORT

nOsHaU g`m.:545
`pVJV XwKQ>Zm /
Personal Accident
H$.. / Workmen Comp.
{ddaU / Particulars
Mmby df / Current
Year
JV df / Previous
Year
Mmby df / Current
Year
904293
924850
2552900
8614
45215
46242
393317
859078
878608
2168197
9765
(14412)
(135136)
868843
864196
2033061
178553
171520
1699401
15006
14603
17366
338364
163950
154154
1376043
444604
375356
1506130
17832
30528
29131
301073
414076
346225
1222889
375356
333426
1009518
1066
29131
25685
236220
df Ho$ Ama^ _| ~H$m`m Xmdo ew / Less: Claims outstanding at the beginning of the year - Net
346225
307741
774364
231801
192638
1824568
91432
97744
231277
91432
97744
231277
3279
6782
6936
119569
84650
90808
114987



SEGMENTAL REPORT
H$_reZ / COMMISSION

`dgm` m H$aZo Ho$ {bE CnJV `` (gH$b) H$m {ddaU & / Break-up of the expenses (Gross) incurred to procurebusiness to be furnished as per details indicated below:
EOoQ> / Agents
75438
80954
146097
Xbmb / Brokers
15455
13982
82141
539
2808
3038
91432
97744
231276

S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
162
`pVJV XwKQ>Zm / Personal
Accident
JV df / Previous
Year
{d_mZZ / Aviation
Mmby df / Current
Year
(` 000)
BOr{Z`[aJ / Engineering
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
2320095
669777
569936
5172360
5410084
14370
41440
37372
366369
470725
436539
731607
559945
2566276
3071048
1897926
(20390)
47363
2972453
2809761
(107606)
23682
(3275)
(87798)
352090
1790320
3292
44088
2884655
3161851
1449858
1133607
166079
3161208
2202202
11332
56662
4897
236348
185541
314371
1068330
97642
1803395
1012822
1146819
121939
73334
1594161
1374921
1009518
3540186
451353
13269765
12079932
1066
105153
64715
861674
758697
236220
3500990
363634
10228563
9371199
774364
144349
152434
3902876
3467430
962586
451353
209449
12079932
8377830
1437
64715
65329
758697
640719
183991
363634
141486
9371199
5704234
780032
152434
133292
3467430
3314315
1141151
113854
92476
2029607
1528036
279046
9416
13407
298979
355596
279046
9416
13407
298979
355596
3449
6251
3737
105925
45401
112369
23214
19088
344372
390213
170126
(7547)
(1944)
60532
10784
155244
194
3086
95317
109711
83878
9221
8793
202340
225350
39924
1528
1323
20535
279046
9415
13407
298980
355596
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
163

SEGMENTAL REPORT

nOsHaU g`m.:545
A` {d{dY / Other Misc.
{ddaU / Particulars
6355301
5735646
701665
861872
1013047
950157
6043919
5647361
(198279)
18603
5845640
5665964
2226464
3139591


243572
956607
512746
1209397
1957290
2886801
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - `j / Add: Claims Outstanding at the end of the year - Direct
2970377
3525818
451380
564384
1656222
1641303
1765535
2448899
3525818
3148378
564384
638279
1641304
1223313
2448898
2563344
1273927
2772356
588443
349778
588443
349778
99863
101535
162610
151088
525696
300225
H$_reZ / COMMISSION

SEGMENTAL REPORT
EOoQ> / Agents
529894
441288
Xbmb / Brokers
17964
-234426
40585
142916
588443
349778
V E KAIMAL
S VENKATARAMAN
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
164
Xm{`d / Liability
(` 000)
dm` d AnVm{bH$aU / Health & Hosp.
836953
714180
41229942
31768630
4121
11570
239031
144835
2061674
(21209)
602043
580915
39168268
31789839
(10564)
(11115)
(3689215)
(3655592)
591479
569800
35479053
28134247
762227
117769
43992515
33555869
(1324)
5070
439831
13224
2221507
739989
321072
109615
41771008
32815880
1215180
1156270
7452583
5125376
1737
13502
270931
326744
372579
309364
945986
843028
7080004
4816012
1156270
711135
5125376
3321898
13502
21401
326744
114874
309364
154586
843028
617662
4816012
3167312
424030
334981
44035000
34464580
102870
91540
2543287
2592269
102870
91540
2543287
2592269
699
727
10489
7975
284364
67352
93080
84292
2258923
2524917
47335
49020
1156520
1221904
54979
37903
1342185
765098
556
4617
44582
605267
102870
91540
2543287
2592269
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
165

SEGMENTAL REPORT

nOsHaU g`m.:545
AZwgyMr-1- 31 _mM 2016 H$mo g_m Ad{Y Ho$ {bò A{OV r{_`_ (ew )
^maV _o Ama ^maV Ho ~mha [d^mOZ
ApZ / Fire
{ddaU / Particulars
Mmby df /
JV df /
Current Year
Previous Year
r{_`_ g / PREMIUM FROM

13113873
12514935
`m ^maV _o / Direct - In India
13113873
12514935
1294683
1041505
OmoS>| drH$V nwZ~u_m -^maV _o/ Add: Reinsurance Accepted - In India
1173212
898920
121471
142585
6172346
5958052
KQ>mE A{nV nwZ~u_m - ^maV _o/ Less: Reinsurance Ceded - In India
2972271
3377011
KQ>mE A{nV nwZ~u_m - ^maV Ho ~mha/Less: Reinsurance Ceded - Outside India
3200075
2581041
8236210
7598388
ew r{_`_ - ^maV _o / Net Premium - In India
11314814
10036843
ew r{_`_ -^maV Ho ~mha /Net Premium - Outside India
(3078604)
(2438455)
{Z{Y _| n[adVZ hoVw g_m`moOZ / Adjustment for change in reserve for unexpired risks
(329367)
465634
7906843
8064022
OmoS>| drH$V nwZ~u_m -^maV Ho ~mha/Add: Reinsurance Accepted - Outside India
_moQ a [ZOr j{V / Motor OD
{ddaU / Particulars
Mmby df /
JV df /

SCHEDULE-1 - SEGMENTAL IN INDIA & OUTSIDE INDIA
Current Year
Previous Year

17128297
16736400
17128297
16736400
OmoS>| drH$V nwZ~u_m -^maV Ho ~mha/ Add: Reinsurance Accepted - Outside India
870753
839801
864170
838021
6583
1780
16257544
15896599
16264128
15898380
(6584)
(1781)
(180472)
(365873)
16077072
15530726
V E KAIMAL
S VENKATARAMAN
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
166
Registration No.: 545
SEGMENTAL IN INDIA & OUTSIDE INDIA
(` 000)
Mmby df / Current
Year
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
2540614
2821435
1842176
2445867
4382790
5267302
2540614
2821435
1842176
2445867
4382790
5267302
1751
7120
151434
199926
153185
207046
2914
147485
194691
147485
197605
1751
4206
3949
5235
5700
9441
367371
500901
1462995
2009457
1830366
2510358
185879
221211
66732
(789001)
252611
(567790)
181492
279690
1396263
2798458
1577755
3078148
2174994
2327654
530615
636336
2705609
2963990
2354735
2603138
1922929
3429559
4277664
6032698
(179741)
(275484)
(1392314)
(2793223)
(1572055)
(3068708)
76330
66392
105720
15007
182050
81399
2251324
2394046
636335
651343
2887659
3045389

Mmby df /
Current Year
JV df /
Previous Year
_moQ>a VVr` nj nyb / Motor TP Pool
Mmby df /
Current Year
Mmby df /
Current Year
JV df /
Previous Year
JV df /
Previous Year
(` 000)
Mmby df /
Current Year
JV df /
Previous Year
29417368
24234423
739777
720851
47285442
41691674
29417368
24234423
739777
720851
47285442
41691674
89385
89385
89385
89385
1502064
1229122
591821
576681
2964638
2645604
1483347
1218693
591821
576681
2939338
2633394
18717
10429
25300
12210
27915304
23005301
237341
144170
44410189
39046070
27934020
23015730
237341
144170
44435487
39058280
(18717)
(10429)
(25300)
(12210)
(2455001)
(1864739)
(46585)
6954
(2682058)
(2223658)
25460303
21140562
190756
151124
41728131
36822412
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
167


nOsHaU g`m.:545
H$_H$ma n{VH$a / Workmen Comp.
{ddaU / Particulars
Mmby df / Current
JV df / Previous
Year
Year

904293
924850
904293
924850
45215
46242
45215
46242
859078
878608
859078
878608
9765
(14412)
868843
864196

{ddaU / Particulars
Mmby df / Current

Year
JV df / Previous
Year

6355301
5735646
6355301
5735646
701665
861872
639591
811922
62074
49950
1013047
950157
747244
717367
265803
232790
6043919
5647361
6247649
5830202
(203730)
(182841)
(198279)
18603
5845640
5665964
V E KAIMAL
S VENKATARAMAN
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
168
(` 000)
`pVJV XwKQ>Zm / Personal Accident
Mmby df / Current
Year
[d_mZZ / Aviation
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
2552900
2320095
669777
569936
5172360
5410084
2552900
2320095
669777
569936
5172360
5410084
8614
14370
41440
37372
366369
470725
8614
14370
33712
28413
353424
468225
7728
8959
12945
2500
393317
436539
731607
559945
2566276
3071048
346191
378193
452440
381289
1611006
1850344
47126
58346
279167
178656
955270
1220704
2168197
1897926
(20390)
47363
2972453
2809761
2215323
1956272
251049
217061
3914779
4027965
(47126)
(58346)
(271440)
(169697)
(942325)
(1218205)
(135136)
(107606)
23682
(3275)
(87798)
352090
2033061
1790320
3292
44088
2884655
3161851
(` 000)
Mmby df / Current
Year
Health & Hosp. / dm` d AnVm{bH$aU
JV df / Previous
Year
Mmby df / Current
Year
Total Misc. / Hw$b {d{dY
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
836953
714180
41229942
31768630
105006967
89135095
836953
714180
41229942
31768630
105006967
89135095
4121
11570
1211594
1395909
4121
11570
1128848
1334500
82746
61409
239031
144835
2061674
(21209)
10014805
7833161
156327
98600
2054613
3761023
8352373
9866452
82704
46235
7061
(3782232)
1662432
(2033291)
602043
580915
39168268
31789839
96203756
82697843
684747
627150
39175330
28007606
97783443
80603144
(82704)
(46235)
(7062)
3782232
(1579687)
2094699
(10564)
(11115)
(3689215)
(3655592)
(6769603)
(5644965)
591479
569800
35479053
28134247
89434153
77052878
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
169

Liability / Xm{`d

nOsHaU g`m.:545
AZwgyMr-2-31 _mM 2016 H$mo g_m Ad{Y Ho$ {bò CnJV Xmdo (ew )
ApZ / Fire
{ddaU / Particulars

9204126
7682587
9204126
7682587
601988
446140
500934
326518
`m ^maV Ho ~mha /Direct - Outside India
101054
119622
5131454
3357864
2646403
1842028
2485051
1515836
AXm {H$ò Jò ew Xmdo/NET CLAIMS PAID
4674660
4770863
7058657
6167076
(2383997)
(1396213)
9320362
8119619
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - `j - ^maV _o / Add: Claims Outstanding Closing - Direct - In India
24039777
17394821
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - `j - ^maV Ho ~mha/Add: Claims Outstanding Closing - Direct - Outside India
24039777
17394821
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - drH$V nwZ~u_m -^maV _o / Add: Claims Outstanding Closing - RI Accepted - In India
768210
737393
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - drH$V nwZ~u_m -^maV Ho ~mha/Add: Claims Outstanding Closing - RI Accepted - Outside India
225015
195340
993225
932733
KQ>mE df H$s g_m{ na ~H$m`m Xmdo- A{nV nwZ~u_m-^maV _o / Less: Claims Outstanding Closing - RI Ceded - In India
9513979
6213411
AXm {H$ò Jò ew Xmdo - ^maV _o/ Net Claims paid - In India
AXm {H$ò Jò ew Xmdo- ^maV Ho ~mha/Net Claims paid - Outside India
OmoS>| df H$s g_m{ na ~H$m`m Xmdo - `j / Add: Claims Outstanding at the end of the year
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - `j/Add: Claims Outstanding at the end of the year - Direct

KQ>mE df H$s g_m{ na ~H$m`m Xmdo- A{nV nwZ~u_m-^maV Ho ~mha / Less: Claims Outstanding Closing - RI Ceded - Outside India
KQ>mE df H$s g_m{ na ~H$m`m Xmdo / Less: Claims outstanding at the end of the year - RI Ceded
OmoS>| df H$s g_m{ na ~H$m`m Xmdo - ew/ ADD: CLAIMS OUTSTANDING AT THE END OF THE YEAR -NET
6198660
3994524
15712639
10207935
9320363
8119619
8119619
6825352
17394822
17038935
17394822
17038935
KQ>mE Ama^ _| ~H$m`m Xmdo- drH$V nwZ~u_m-^maV _o /Less: Claims Outstanding Opening - RI Accepted - In India
737393
507040
KQ>mE Ama^ _| ~H$m`m Xmdo- drH$V nwZ~u_m-^maV Ho ~mha/Less: Claims Outstanding Opening - RI Accepted - Outside India
195340
291559
932733
798599
OmoS >| : Ama^ _| ~H$m`m Xmdo - A{nV nwZ~u_m-^maV _o / Add: Claims Outstanding Opening - RI Ceded - In India
6390506
7208842
OmoS >| df Ho$ Ama^ _| ~H$m`m Xmdo- drH$V nwZ~u_m-^maV Ho ~mha/Add: Claims Outstanding Opening - RI Ceded - Outside India
3817429
3803340
OmoS >| : df Ho$ Ama^ _| ~H$m`m Xmdo - A{nV nwZ~u_m / Add: Claims outstanding at the beginning of the year - RI Ceded
10207935
11012182
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo (ew) / Less: Claims outstanding at the beginning of the year - Net
8119620
6825352
CnJV Xmdo (ew) / Claims Incurred (Net)
5875403
6065130
KQ>mE df H$o Ama^ _o ~H$m`m Xmdo /Less: Claims Outstanding at the beginning
KQ>mE Ama^ _o ~H$m`m Xmdo - `j ^maV _o /Less: Claims Outstanding Opening - Direct - In India
KQ>mE Ama^ _o ~H$m`m Xmdo - `j ^maV Ho ~mha/Less: Claims Outstanding Opening - Direct - Outside India
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo-`j / Less: Outstanding claims at the beginning of the year - Direct
S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
170
(` 000)
Mmby df / Current Year JV df / Previous Year Mmby df / Current Year JV df / Previous Year Mmby df / Current Year JV df / Previous Year
1957174
2121760
2100412
1154488
4057586
3276248
1957174
2121760
2100412
1154488
4057585
3276248
3844
20918
96400
75075
100244
95993
2256
87821
64800
87825
67056
3840
18662
8579
10275
12420
28937
646063
379494
1633420
835588
2279483
1215082
(215222)
211672
(1067389)
(69865)
(1282611)
141807
861285
167822
2700809
905453
3562094
1073275
1314955
1763184
563392
393975
1878347
2157159
2172399
1912344
3255621
1289153
5428021
3201496
(857444)
(149159)
(2692229)
(895178)
(3549673)
(1044338)
2589473
2582745
1290777
1110280
3880250
3693026
2994198
3603676
4358315
3602491
7352513
7206167
2994198
3603676
4358315
3602491
7352513
7206167
43686
40017
235808
224179
279494
264195
12240
10921
80294
53008
92534
63930
55926
50938
316102
277187
372028
328125
323139
(39372)
3239930
540402
3563069
501030
137512
1111241
143709
2228996
281223
3340237
460651
1071869
3383639
2769398
3844292
3841267
2589473
2582745
1290776
1110280
3880249
3693025
2582745
2272485
1110280
991168
3693026
3263653
3603676
3444397
3602491
3993459
7206167
7437856
3603676
3444397
3602491
3993459
7206167
7437856
40017
25131
224179
252125
264195
277256
10921
10199
53008
92489
63930
102688
50938
35330
277187
344614
328125
379944
(39372)
(5536)
540402
939844
501029
934308
1111241
1212778
2228996
2407061
3340237
3619839
1071869
1207242
2769398
3346905
3841267
4554147
2582745
2272485
1110280
991168
3693025
3263653
1321683
2073444
743888
513087
2065571
2586531
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
171


nOsHaU g`m.:545
_moQma [ZOr j{V / Motor OD
{ddaU / Particulars

`j H$mamo~ma /Direct Business
10872142
9102776
10872142
9102776
850505
828154
850505
828154

AXm {H$ò Jò ew Xmdo/ NET CLAIMS PAID
10021637
8274622
10021637
8274622
4567746
3396462
4875753
3685213
4875753
3685213
KQ>mE df H$s g_m{ na ~H$m`m Xmdo- A{nV nwZ~u_m - ^maV _o / Less: Claims Outstanding Closing - RI Ceded - In India
304332
271154
KQ>mE df H$s g_m{ na ~H$m`m Xmdo- A{nV nwZ~u_m -^maV Ho ~mha / Less: Claims Outstanding Closing - RI Ceded - Outside India
3675
17597
308007
288751

OmoS>| df H$s g_m{ na ~H$m`m - ew/ ADD: CLAIMS OUTSTANDING AT THE END OF THE YEAR -NET
4567746
3396462
3396462
2873906
KQ>mE Ama^ _o ~H$m`m Xmdo - `j-^maV _o /Less: Claims Outstanding Opening - Direct - In India
3685213
3107542
KQ>mE Ama^ _o ~H$m`m Xmdo - `j-^maV Ho ~mha/Less: Claims Outstanding Opening - Direct - Outside India
3685213
3107542
4754
4754
271154
238390
17597
288751
238390
3396462
2873906
11192921
8797178
S VENKATARAMAN
V E KAIMAL
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
dr. B. H$_b
Eg. doH Qam_Z

H$nZr g{Md
172
(` 000)
Mmby df /
JV df /
Mmby df /
JV df /
Mmby df /
JV df /
Mmby df /
JV df /
Current Year
Previous Year
Current Year
Previous Year
Current Year
Previous Year
Current Year
Previous Year
13758372
10468599
292593
174486
5290479
5565535
30213586
25311397
13758372
10468462
292593
174486
5290479
5565535
30213586
25311260
137
137
262
453
164468
164730
454
453
164468
164468
454
262
262
1380195
1230906
234074
139589
2464774
2198650
1380195
1230228
234074
139589
2464774
2197972
678
678
12378439
9238146
222987
34897
5290479
5565535
27913542
23113201
12378177
9238687
222987
34897
5290479
5565535
27913280
23113741
262
(541)
262
(541)
39852599
33736481
993333
766638
22106704
27397183
67520382
65296764
47762018
38007537
4966665
3833191
22106704
27397183
79711140
72923124
12810
12015
12810
12015
47774828
38019552
4966665
3833191
22106704
27397183
79723949
72935139
500
5771
500
5771
1456
1000
1456
1000
1956
6771
1956
6771
7915323
4288360
3973332
3066553
12192987
7626067
8862
1483
12537
19080
7924185
4289843
3973332
3066553
12205524
7645147
39852599
33736481
993333
766638
22106704
27397183
67520382
65296764
33736481
26716374
766638
604565
27397183
32962718
65296764
63157564
38007537
30866273
3833191
3022827
27397183
32962718
72923124
69959360
12015
11610
12015
11610
38019552
30877883
3833191
3022827
27397183
32962718
72935139
69970970
5054
5054
4754
1717
1134
1717
1134
6771
1134
6771
5888
4288359
4161160
3066553
2418261
7626067
6817811
1484
1484
19080
1483
4289843
4162644
3066553
2418261
7645147
6819294
33736480
26716374
766638
604566
27397183
32962718
65296763
63157564
18494558
16258253
449682
196969
30137161
25252401
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
173


nOsHaU g`m.:545
H$_H$ma n{VH$a/Workmen comp
{ddaU / Particulars
Mmby df /Current year
JV df /Previous year
178553
171520
178553
171520
14603
17366
14603
17366
163950
154154
163950
154154
414076
346225
433844
365263
10760
10093
444604
375356
30528
29131

KQ>mE df H$s g_m{ na ~H$m`m Xmdo- A{nV nwZ~u_m -^maV Ho ~mha/ Less: Claims Outstanding Closing - RI Ceded - Outside India
30528
29131
414076
346225
346225
307741
365263
323674
10093
9752
375356
333426
KQ>mE Ama^ _| ~H$m`m Xmdo- drH$V nwZ~u_m ^maV _o /Less: Claims Outstanding Opening - RI Accepted - In India
KQ>mE Ama^ _| ~H$m`m Xmdo- drH$V nwZ~u_m ^maV Ho ~mha/Less: Claims Outstanding Opening - RI Accepted - Outside India
29131
25685
29131
25685
346225
307741
231801
192638
S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
174
(` 000)
[d_mZZ / Aviation
1699401
1449858
1133607
166079
3161208
2202202
1699401
1449858
1133607
166079
3161208
2202202
15006
11332
56662
4897
236348
185541
15006
11332
44155
4897
215074
176311
12507
21274
9230
338364
314371
1068330
97642
1803395
1012822
280054
261419
453747
48393
1248440
680741
58310
52952
614583
49249
554955
332081
1376043
1146819
121939
73334
1594161
1374921
1434353
1199770
724015
122584
2127842
1697772
(58310)
(52952)
(602076)
(49249)
(533681)
(322851)
1222889
774364
144349
152434
3902875
3467430
1506130
1009518
3540186
451353
13269765
12079932
1506130
1009518
3540186
451353
13269765
12079932
17832
1066
85932
48392
835111
733620
19221
16323
26563
25077
17832
1066
105153
64715
861674
758697
262181
193534
2936621
331984
6043470
5672945
38892
42686
564369
31650
4185093
3698254
301073
236220
3500990
363634
10228563
9371199
1222889
774364
144349
152434
3902876
3467430
774364
780032
152434
133292
3467430
3314314
1009518
962586
451353
209449
12079932
8377830
1009518
962586
451353
209449
12079932
8377830
1066
1437
48392
49327
733620
628968
16323
16002
25077
11751
1066
1437
64715
65329
758697
640719
193534
155594
331984
109061
5672945
3473110
42686
28397
31650
32425
3698254
2231124
236220
183991
363634
141486
9371199
5704234
774364
780032
152434
133292
3467430
3314315
1824568
1141151
113854
92476
2029607
1528036
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
175


nOsHaU g`m.:545
A` {d{dY / Other Misc
{ddaU / Particulars
2226464
3139591
2226464
3139591
243572
956607
231809
760180
11763
196427
512746
1209397
341754
655825
170992
553572
1957290
2886801
2116519
3243946
(159229)
(357145)
1765535
2448898
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - `j-^maV _o / Add: Claims Outstanding Closing - Direct - In India
2970377
3525818
2970377
3525818
328520
428855
122860
135529
451380
564384
1171320
1268926
484902
372377
1656222
1641303
1765535
2448899
2448898
2563344
3525818
3148378
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - `j-^maV Ho ~mha/Add: Claims Outstanding Closing - Direct - Outside India

KQ>mE df H$s g_m{ na ~H$m`m Xmdo- A{nV nwZ~u_m-^maV Ho ~mha/ Less: Claims Outstanding Closing - RI Ceded - Outside India
3525818
3148378
428855
375673
135529
262606
564384
638279
1268926
799862
372378
423451
1641304
1223313
2448898
2563344
1273927
2772356
S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
176
(` 000)
Xm{`d / Liability
762227
117769
43992515
33555869
83367561
66114284
762227
117769
43992515
33555869
83367562
66114147
137
(1324)
5070
714994
1163900
(1324)
5070
669188
958243
45806
205657
439831
13224
2221507
739988
8863550
5603460
439831
13224
2199626
4370525
7442828
8245465
21881
(3630537)
1420722
(2642005)
321072
109615
41771008
32815881
75219005
61674724
321072
109615
41792889
29185344
76593922
58826926
(21881)
3630537
(1374915)
2847798
945986
843028
7080005
4816012
82996096
78145154
1215180
1156270
7452583
5125376
110099205
96636654
23570
22108
1215180
1156270
7452583
5125376
110122775
96658762
1737
13502
1269631
1231206
170101
177929
1737
13502
1439732
1409135
270931
326744
372569
303088
23280608
15752419
10
6276
5285802
4170323
270931
326744
372579
309364
28566410
19922742
945986
843028
7080004
4816012
82996097
78145155
843028
617662
4816012
3167312
78145154
74041262
1156270
711135
5125376
3321898
96636654
87014309
22108
21363
1156270
711135
5125376
3321898
96658762
87035672
13502
21401
1230490
1081560
178645
291493
13502
21401
1409135
1373053
326744
114874
303088
154586
15752421
11650583
6276
4170322
2716881
326744
114874
309364
154586
19922743
14367464
843028
617662
4816012
3167312
78145154
74041261
424030
334981
44035000
34464581
80069948
65778618
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
177


nOsHaU g`m.:545
AZwgyMr - 3 - H$_reZ 31 _mM 2016 H$mo g_m Ad{Y Ho$ {bE

ApZ / Fire
{ddaU / Particulars
Mmby df
Current Year
JV df
Previous Year
H$_reZ / COMMISSION
820142
881426
820142
881426
278337
148803
OmoS>| drH$V nwZ~u_m na H$_reZ - ^maV _o /Add: Commission on Reinsurance Accepted - In India
237423
110138
40914
38665
418013
452969
KQ>mE A{nV nwZ~u_m na H$_reZ-^maV _o /Less: Commission on Reinsurance Ceded - In India
272177
288477
KQ>mE A{nV nwZ~u_m na H$_reZ-^maV Ho ~mha /Less: Commission on Reinsurance Ceded - Outside
India
145836
164492
680466
577260
H$_rmZ (ew)-^maV _o / Commission (Net) - In India
785388
703087
(104922)
(125827)
EOoQ - ^maV _o / Agents - In India
465439
440448
EOoQ / Agents
465439
440448
Xbmb / Brokers
337221
287444
17482
153534
820142
881426

OmoS>| drH$V nwZ~u_m na H$_reZ - ^maV Ho ~mha / Add: Commission on Reinsurance Accepted - Outside
India
H$_rmZ (ew)-^maV Ho ~mha /Commission (Net) - Outside India

`dgm` m H$aZo Ho$ {bE CnJV `` (gH$b) H$m {ddaU / Break-up of the expenses (Gross) incurred
to procure business to be furnished as per details indicated below:

S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
178

Mmby df
Current Year
JV df
Previous Year
Mmby df
Current Year
(` 000)
JV df
Previous Year
Mmby df
Current Year
JV df
Previous Year
272571
352820
47852
40888
320423
393708
272571
352820
47852
40888
320423
393708
(882)
1347
31305
25544
30423
26891
59
30281
24566
30280
24625
(882)
1288
1024
978
143
2266
29905
32324
93978
96763
123883
129087
19558
20662
18643
12607
38201
33268
10347
11662
75335
84156
85682
95819
241784
321843
(14821)
(30331)
226963
291512
253013
332217
59489
52847
312502
385064
(11229)
(10374)
(74310)
(83178)
(85539)
(93553)
154029
201587
10801
14011
164830
215598
154029
201587
10801
14011
164830
215598
117676
138392
36958
22070
154634
160462
866
12841
93
4807
959
17648
272571
352820
47852
40888
320423
393708
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
179


nOsHaU g`m.:545
AZwgyMr - 3 - 31 _mM 2016 H$mo g_m Ad{Y Ho$ {bE H$_reZ

{ddaU / Particulars
Mmby df
Current Year
JV df
Previous Year
H$_reZ / COMMISSION
1298429
1478968
1298429
1478968
OmoS>| drH$V nwZ~u_m na H$_reZ - ^maV Ho ~mha / Add: Commission on Reinsurance Accepted - Outside India
129118
125525
KQ>mE A{nV nwZ~u_m na H$_reZ - ^maV _o /Less: Commission on Reinsurance Ceded - In India
129118
125525
1169311
1353443
1169311
1353443
1132327
1245415
EOoQ / Agents
1132327
1245415
Xbmb / Brokers
160074
182952
6028
50601
1298429
1478968

KQ>mE A{nV nwZ~u_m na H$_reZ - ^maV Ho ~mha /Less: Commission on Reinsurance Ceded - Outside India

`dgm` m H$aZo Ho$ {bE CnJV `` (gH$b) H$m {ddaU / Break-up of the expenses (Gross) incurred to
procure business to be furnished as per details indicated below:

S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
180

Mmby df
Current Year
JV df
Previous Year
Mmby df
Current Year
Mmby df
Current Year
JV df
Previous Year
JV df
Previous Year
(` 000)

Mmby df
Current Year
JV df
Previous Year
(101)
1298429
1478867
(101)
1298429
1478867
73543
88395
202660
213920
73543
88395
202661
213920
(73543)
(88496)
1095768
1264947
(73543)
(88496)
1095768
1264947
(101)
1132327
1245314
(101)
1132327
1245314
160074
182952
6028
50601
(101)
1298429
1478867
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
181


nOsHaU g`m.:545

H$_H$ma n{VH$a/ Workmen Comp.
{ddaU / Particulars
Mmby df
Current Year
JV df
Previous Year
H$_reZ / COMMISSION
91432
97744
91432
97744
OmoS>| drH$V nwZ~u_m na H$_reZ - ^maV Ho ~mha /

Add: Commission on Reinsurance Accepted - Outside India
6782
6936
6782
6936
84650
90808
H$_rmZ (ew) - ^maV _o / Commission (Net) - In India
84650
90808
75438
80954
EOoQ / Agents
75438
80954
Xbmb / Brokers
15455
13982
539
2808
91432
97744

KQ>mE A{nV nwZ~u_m na H$_reZ-^maV Ho ~mha / Less: Commission on Reinsurance Ceded - Outside India
H$_rmZ (ew) - ^maV Ho ~mha /Commission (Net) - Outside India

`dgm` m H$aZo Ho$ {bE CnJV `` (gH$b) H$m {ddaU / Break-up of the expenses (Gross)
incurred to procure business to be furnished as per details indicated below:

S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
182

Mmby df
JV df
Current Year
Previous Year
[d_mZZ / Aviation
Mmby df
JV df
Current Year
Previous Year
(` 000)
Mmby df
JV df
Current Year
Previous Year
231277
279046
9416
13407
298979
355596
231277
279046
9416
13407
298979
355596
3279
3449
6251
3737
105925
45401
3279
3449
4322
1413
101275
44622
1929
2324
4650
779
119569
112369
23214
19088
344372
390213
95019
95461
21984
17827
211777
229329
24550
16908
1230
1261
132595
160884
114987
170126
(7547)
(1944)
60532
10784
139537
187034
(8247)
(3007)
188477
170888
(24550)
(16908)
700
1063
(127945)
(160104)
146097
155244
194
3086
95317
109711
146097
155244
194
3086
95317
109711
82141
83878
9222
8793
202340
225350
3039
39924
1528
1322
20535
231277
279046
9416
13407
298979
355596
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
183


nOsHaU g`m.:545

{ddaU / Particulars
Mmby df
Current Year
H$_reZ / COMMISSION
588443
349778
588443
349778
99863
101535
OmoS>| drH$V nwZ~u_m na H$_reZ - ^maV _o / Add: Commission on Reinsurance Accepted - In India
99327
101422
536
113
162610
151088
KQ>mE A{nV nwZ~u_m na H$_reZ-^maV _o / Less: Commission on Reinsurance Ceded - In India
137533
125798
25077
25290
525696
300225
550237
325403
(24541)
(25178)
529894
441288
EOoQ / Agents
529894
441288
Xbmb / Brokers
17964
-234426
40585
142916
588443
349778
OmoS >| drH$V nwZ~u_m na H$_reZ - ^maV Ho ~mha / Add: Commission on Reinsurance Accepted - Outside India

JV df
Previous Year

S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
184

Xm{`d / Liability
Mmby df
Current Year
JV df
Previous Year
Mmby df
Current Year
JV df
Previous Year
Mmby df
Current Year
JV df
Previous Year
102870
91540
2543287
2592269
5164133
5258247
102870
91540
2543287
2592269
5164133
5258247
699
727
216017
154849
699
727
208902
151633
7115
3216
10489
7975
284364
67352
1154061
968941
9738
7761
278531
396262
964026
1093293
751
214
5833
(328910)
190035
(124352)
93080
84292
2258923
2524917
4226089
4444155
93831
84506
2264756
2196007
4409009
4316587
(751)
(214)
(5833)
328910
(182920)
127569
47335
49020
1156520
1221904
3183122
3306521
47335
49020
1156520
1221904
3183122
3306521
54979
37903
1342185
765098
1884360
1083530
556
4617
44582
605267
96651
868196
102870
91540
2543287
2592269
5164133
5258247
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
185


31 _mM 2016 H$mo g_m df Ho$ {bE H$m \$bmo {ddaU
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2016
{ddaU/ / Particulars
I. MmbZ H$m`m] go H e \$bmo / I. Cash Flow from the Operating Activities

A{J_ Am`, ew gh ~r_m g{hV nm{bgrYmaH$m| go mV r{_`_ / Premium received from policyholders,
including advance receipts, net of coinsurance
134934744
116181638
160447
150675
nwZ~u_mH$VmAm| H$mo AXm`Jr, ew H$_reZ Ama Xmdo / Payments to reinsurers, net of commission
and claims
(1853923)
(2056553)
gh~u_mH$VmAm| H$mo AXm`Jr, ew Xmdo go m Am` / Payments to coinsurers, net of claims recovery
(14883143)
(10534351)
AXm {H$ò Jò Xmdo / Payments of claims
(96629273)
(77073118)
(6276648)
(6345422)
(32874773)
(22459184)
(17403)
(5105)
(1164431)
(1263772)
405186
(954777)
(1452322)
2938689
16,134
103601
(19635405)
(1317680)
(19635405)
(1317680)
(19635405)
(1317680)
(611831)
(736266)
50141
38959
(274531125)
(204306167)
275877603
193211919
15375694
14915965
(28890)
(31673)
(204)
32687
16131388
3125423
A` Am` / Other Receipts
AXm {H$`m J`m H$_reZ Ama Xbmb H$_reZ / Payments of commission and brokerage
AXm {H$`m J`m A` MmbZ mM / Payments of other operating expenses
O_m, A{J_ Ama H$_Mmar G$U / Deposits, advances and staff loans
AXm {H$`m J`m Am` H$a/ dmngr (ew ) / Income taxes paid/ refund (net)
AXm {H$`m J`m godm H$a / dmngr (ew ) / Service tax paid / refund (net)
A` AXm`Jr / m{`m (ew ) / Other payments/collections (Net)
{dXoer {d{Z_` Ho$ n[adVZ _| hB bm^ / hm{Z / Gain /Loss on Foreign Exchange Fluctuations
AgmYmaU H$m`m] Ho$ nyd H$e \$bmo / Cash flow before extraordinary activities
AgmYmaU H$m` / Extraordinary Activities
AgmYmaU H$m`m] Ho$ nMmV H$e \$bmo / Cash flow after extraordinary activities
AgmYmaU H$m`m] go ew H$e \$bmo H$m `moJ / Net Cash flow from the Operating Activities
II. {Zdoe H$m`m] go H$e \$bmo / II. Cash Flow from the Investing Activities

CASH FLOW STATEMENT
WmB n[agnpV`m| H$m H$` / Purchase of fixed assets

WmB n[agnpV`m| H$s {~H$s go Am` / Proceeds from Sale of Fixed Assets
{Zdoe H$m H$` (ew ) / Purchase of investments(net)
{Zdoe H$m {~H$s _y` / Sale Value of Investments
m {H$am`m /`mO/bm^me / Rents/Interests/Dividends received
{Zdoe go g~{YV IM / Expenses relating to investments
A` AXm`Jr / m{`m (ew ) / Other payments/collections (Net)
ew {Zdoe H$m`m] go H$e \$bmo / Net cash flow from the Investing Activities
186
eoà nyOr Ho$ {ZJ_Z go Am` / Proceeds from issuance of share capital
CYma go Am` / Proceeds from borrowing
CYma H$m nwZAXm`Jr / Repayments of borrowing
(733955)
(1240005)
(733955)
(1240005)
ZH$X Ama ZH$X g_Vw` _| ew ~T>moVar / Net increase in Cash and Cash Equivalent
(4237972)
567738
df Ho$ ma^ _| ZH$X Ama ZH$X g_Vw` / Cash and cash equivalents at the beginning of the year
16175881
15608144
df H$s g_m{ na ZH$X Ama ZH$X g_Vw` / Cash and cash equivalents at the end of the year
11937909
16175881
AXm {H$`m J`m `mO/bm^me / Interest/dividends paid

{dVr` H$m`m] go ew H$e \$bmo H$m `moJ / Net cash flow from the Financing Activities
III. {dVr` H$m`m] go H$e \$bmo / III. Cash Flow from the Financing Activities
IV. ZH$X Ama ZH$X g_Vw` na {dXoer {d{Z_` Xam| H$m ^md (ew) / IV. Effect of foreign exchange
rates on cash and cash equivalents (net)
{_{bX IamV
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm
Alok Tandon
A V Girija Kumar
A Hoda
MILIND KHARAT
{ZXoeH$JU
A`j-gh-~Y {ZXoeH
dr.B.H$_b
V E KAIMAL
DIRECTORS
{dVr` gbmhH$ma
FINANCIAL ADVISOR
Eg. d|H$Q>am_Z
S VENKATARAMAN
H$nZr g{Md
COMPANY SECRETARY
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
WmZ: Mo
{XZmH$ : 13 _B, 2016
Place: Chennai
187

CASH FLOW STATEMENT

gZXr boImH$ma
E\$AmaEZ 000511Eg
gZXr boImH$ma
gZXr boImH$ma
E\$AmaEZ 01931Eg
E\$AmaEZ 02510Eg
_hdnyU boIm Zr{V`m

31 _mM 2016 H$mo g_m df Ho$
_hdnyU boIm Zr{V`m d {dVr` {ddaU _| gp_{bV {Q>n{U`m
1. _hdnyU boIm Zr{V`m
1. boIm nanam
4.2.2. ^maVr` ~r_m H$n{Z`m| H$s r{_`_ Am` g~{YV df H$s boIm g_m{
VH$ m {ddaU Ho$ AmYma na _m`Vm Xr J`r h &Ohm boIm H$s
g_m{ VH$ {ddaU m Zhro {H$`m J`m dhm AZw_mZ Ho$ AmYma na
_m`Vm Xr J`r h &
4.2.3. MmbZ H$m`mb`m| mam ~r_m boIZ {H$ò Jò r{_`_ Ho$ AmYma na
AnU r{_`_ H$mo _m`Vm Xr J`r h & Ohm nyU {ddaU Am h
dhm CnbY {ddaU Ho$ AmYma na nwZ~u_m AnU H$mo AZw_m{ZV {H$`m
OmVm h &
4 2.4. nyb A`mnU/drH${V boIm ~XrH$aU VH$ Or.AmB.gr.(nyb ~YH$)
go m {ddaU Ho$ AZwgma AmVH$dmXr nyb aoQ>am| Ama _moQ>a VVr` nj
nyb/AdrH$V nyb aoQ>am| go g~{YV r{_`_ Xmdo, godm ^ma, {Zdoe,
Am` d `` H$m AmH$bZ {H$`m OmVm h& AmVH$dmXr nyb/ _moQ>a
VVr` nj nyb/AdrH$V nyb go g~{YV h_mao A`mnU H$m r{_`_
Xmdo, godm ^ma Ama `` AmH$bZ 31 _mM VH$ {H$`m J`m &
4.3. Ag_m Omo{I_ hoVw Ama{jV
Ag_m Omo{I_ hoVw Ama{jV nadVu boIm Ad{Y hoVw Am~{Q>V Ama
ew r{_`_ H$mo XemVr h Omo nadVu boIm Ad{Y hoVw Ag_m OmoI_
Ho$ {bE Ama{jV ew r{_`_ na 50% h naVw g_wr nmoV `dgm`
Ama AmVH$dmXr r{_`_ Ho$ {bE ew r{_`_ na 100% h &
{dVr` {ddaU H$s V`mar Eo{Vhm{gV bmJV n[anmQ>r Ho$ VhV boIm Zr{V Omo ^maVr`
~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU (~r_m H$n{Z`m| Ho$ {dVr` {ddaU Ed boIm
narjm [anmoQ> H$s V`mar) {d{Z`_ 2002, ~r_m A{Y{Z`_ 1938, ~r_m {d{Z`m_H$ Ama
{dH$mg m{YH$ma A{Y{Z`_, 1999, ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU mam g_`
g_` na Omar n[an / AmXoe / A{YgyMZm`|, H$nZr A{Y{Z`_ 2013 H$s Ymam 133
Ho$ gmW n{R>V H$nZr (boIm) {Z`_ 2014 Ho$ {Z`_ 7 Ho$ VhV A{Ygy{MV bmJy
boI _mZH$ AmYma na {H$`m J`m h &
2. AmH$bZ H$m `moJ
m` drH$V boIm Zr{V Ho$ AZwgma V`ma {H$`m J`m {dVr` {ddaU H$s Anojm h {H$
~YZ H$mo n[agn{V`m|, Xo`VmAm|, Am` Ama `` Ed AmH$p_H$ Xo`VmAm| Ho$ H$Q>Z
Ho$ g~Y _| gy{MV am{e na hmoZdo mbo ^md Ho$ {bE AmH$bZ Ama AJrH$ma {H$`m OmE &
{dVr` {ddaU H$s VmarI H$mo Cn`xV Vdm| Ama n{apQ>`m| Ho$ ~YZ _y`mH$Z Ho$
AmYma na {dVr` {ddaU _| AmH$bZ d AJrH$ma H$mo gp_{bV {H$`m J`m & `{X boIm
AZw_mZ _| H$moB gemoYZ hmo Vmo CgH$m A{^km{ Cg VmarI go Mmby Ama AmZodmbr
Ad{Y _| {H$`m OmEJm & [dVr` {ddaU H$s V`mar _| `wV AmH$bZ d AJrH$ma _| go
dmV{dH$ n[aUm_ AVa hmoJm &

SIGNIFICANT ACCOUNTING POLICIES
3. eoàYmaH$m| / nm{bgrYmaH$m| H$s {Z{Y

3 .1 eoàYmaH$m| H$s {Z{Y _| eoà nyOr, gmm_m` Ama{jV, nyOr Ama{jV
VWm {d{dY / {deof Ama{jV gp_{bV h &
3 .2 . nm{bgrYmaH$m| H$s {Z{Y _| VH$ZrH$s Ama{jV AWmV Ag_m Omo{I_
Ama{jV Ed ~H$m`m Xmdm| hoVw AZw_m{ZV Xo`Vm`| gp_{bV h &
5. Xmdm
5.1
A)
Am)
4 r{_`_
4.1 `j H$mamo~ma
4.1 .1 Omo{I_ H$s drH${V na r{_`_ Am` H$s _m`Vm Xr OmVr h VWm
JUZm 4.3 Ho$ AZwgma AZ{OV r{_`_ hoVw Ama{jV _| ~T>mVr `m
H$Q>mVr H$mo g_m`mo{OV {H$`m J`m h&
4.1.2 df Ho$ XmamZ Omar nR>mH$Zm| Ho$ AmYma na r{_`_ dmngr H$m
AmH$bZ {H$`m J`m h &
B)
4.2 nwZ~u_m
4.2.1. {dXoer ~r_m H$n{Z`m| go 31 _mM VH$ m {ddaU Ho$ AmYma na
r{_`_ Am` H$s _m`Vm Xr J`r h &
188
`j H$mamo~ma
gyMZm m hmoZo na Xmdo H$s _m`Vm Xr J`r h &
{d{Z_` _| n[adVZ bm^/ hm{Z g{hV Xmdm| go g~{YV g_V IMm]
H$mo `j $n go Xmdo Ho$ {hgo Ho$ $n _| AmH${bV {H$`m J`m h&
df H$s g_m{ na ~H$m`m Xmdo
df H$s g_m{ na ~H$mò Xmdm| Ho$ {bE AZw_m{ZV Xo`Vm H$m mdYmZ,
gdjoU [anmoQ> ,AJUr H$n{Z`m| H$s gyMZm ,nyd AZw^d, A` bmJy
{d{Y boIm H$s g_m{ H$s {V{W VH$ JmhH$m| Ama A` moVm| mam
CnbY H$am`r JB OmZH$mar Ho$ AmYma na {H$`m J`m h &
AnhMmZ _moQ>a VVr` nj Xmdm| Ho$ g~Y _| H$nZr H$r Xo`Vm AZw_m{ZV
Xo`Vm Ho$ 100% VH$ H$m mdYmZ {H$`m J`m h & A` _m_bmo _|
AZw_m{ZV Xo`Vm H$s 1/3 am{e VH$ H$m mdYmZ {H$`m J`m h &
SIGNIFICANT ACCOUNTING POLICIES AND NOTES FORMING PART OF

FINANCIAL STATEMENTS AS ON 31ST MARCH 2016
I. SIGNIFICANT ACCOUNTING POLICIES
4.2.2
Premium Income in respect of Indian Reinsurers is recognized

based on returns received upto finalization of accounts of the
relevant accounting year. Wherever returns are not received
upto finalization of accounts, the same has been estimated.
4.2.3
Premium on cessions are recognized on the basis of the

premium underwritten by the operating offices. Wherever full
technical particulars are not available, reinsurance cessions
are estimated on the basis of information available.
4.2.4
Pool Acceptances/ Cessions : Premium, Claims, Service

charges, Investment income and expenses in respect of
1. ACCOUNTING CONVENTION:
The financial statements are prepared under the historical cost convention
in accordance with the accounting principles prescribed by The Insurance
Regulatory and Development Authority of India (Preparation of Financial
Statements and Auditors Report of Insurance Companies) Regulations, 2002,
the Insurance Act, 1938, the Insurance Regulatory and Development Authority
Act, 1999, Orders / Circulars / Notifications issued by Insurance Regulatory
and Development Authority Of India (IRDAI) from time to time, the applicable
Accounting Standards notified under Section 133 of the Companies Act, 2013
read with rule 7 of the Companies (Accounts) Rules, 2014.
Terrorism Pool retro and Motor TP Pool / Declined Pool retro

are accounted as per the statements received from GIC (Pool
Administrator) upto finalisation of accounts. Premium, Claims,
Service charges and expenses of our cessions in respect of
Terrorism Pool / Motor TP Pool / Declined Pool are accounted
upto 31st March.
2. USE OF ESTIMATES:
The preparation of financial statements in conformity with the generally
accepted accounting principles requires the management to make
estimates and assumptions that affect the reported amount of assets,
liabilities, revenue and expenses and disclosure of contingent liabilities
as of the date of the financial statements. The estimates and assumptions
used in the accompanying financial statements are based upon the
managements evaluation of the relevant facts and circumstances as
of the date of the financial statements. Actual results may differ from
estimates and assumptions used in preparing these financial statements.
4.3
5. CLAIMS:
Shareholders funds consists of Share Capital, General

Reserve, Capital Reserve, and Miscellaneous/ Special
Reserves.
5.1
a. Claims are recognized as and when intimated
Policyholders funds consists of technical reserves i.e

Unexpired Risk Reserves plus estimated liability for
outstanding claims.
b. All expenses directly attributable to claims including

exchange fluctuations gains / losses are accounted as part
of claims.
4. PREMIUM:
4.1
c. Outstanding claims at the year-end:-
Direct Business:
4.1.1 Premium income is recognised on assumption of risk and

adjusted for increase or decrease in reserve for unearned
premium, calculated as per 4.3 below.
4.1.2 Premium refunds are accounted on the basis of endorsements
passed during the year.
4.2
Direct Business:
Estimated Liability for outstanding claims at the year end are

provided on the basis of survey reports, advices of Leaders,
past experience, other applicable laws, information provided
by clients and other sources upto the date of finalization of
accounts,.
In respect of unidentified motor third party claims outstanding
for more than one year, provision is made at the rate of 100%
of the estimated liability. In other cases provision is made at
the rate of 1/3rd of the estimated liability.
Reinsurance:
4.2.1 Premium income is recognized based on the returns received

from foreign reinsurance companies received upto 31st March.
189

3.2.
Reserve For Unexpired Risk:

Reserve for unexpired risk is made on the amount representing
that part of net premium written which is attributable to, and
allocated to the succeeding accounting periods at 50% of net
premium, except in the case of Marine Hull business and
Terrorism, where it is made at 100% of net premium.
3. SHAREHOLDERS/POLICYHOLDERS FUNDS:
3.1.
Significant Accounting Policies
5. 2 nwZ~u_m
A) gyMZm m hmoZo na Xmdo H$s _m`Vm Xr J`r h &
Am) ^maVr` AmV[aH$ Amd{V`m| (^maVr` Ed {dXoer) Ho$ g~Y _|,
~H$mò Xmdm| Ho$ {bò Xo`Vm H$m AmH$bZ boIm H$s g_m{ VH$ m
{ddaU na AmYm[aV h& Ohm boIm g_m{ VH$ {ddaU Am hmo
Vmo Cgo ~r_mH$H$ _y`mH$Z na AmH${bV {H$`m J`m h&
n[a^m{fV `moJXmZ godm{ZdV gw{dYm `moOZmAm| Ho$ ^wJVmZ H$mo `` Ho$

$n _| ^m[aV {H$`m J`m h My{H$ do Xo` _mZo OmVo h &
n[a^m{fV gw{dYm `moOZmAm| hoVw gw{dYmAm| H$s bmJV H$m mdYmZ
moOoQ>oS> `y{ZQ> Ho${S>Q> Umbr VWm òH$ VwbZ n H$s VmarI H$mo
~r_mH$H$ mam {H$ò Jò _y`mH$Z Ho$ AmYma na AmH$bZ {H$`m OmVm
h& {Og Ad{Y _| `h K{Q>V hmoVm h Cg Ad{Y Ho$ bm^ Ama hm{Z ImVo
_| dmgV{dH$ bm^ Ama hm{Z H$mo nyU $n go _m`Vm Xr OmVr h & nyd
godm bmJV H$s _m`Vm {Z{hV bm^ Ho$ hX VH$ H$s JB h Ama A`Vm
grYr aoIm AmYma na AmgVZ Ad{Y VH $n[aemo{YV {H$`m J`m h O~
VH$ gw{dYm`| {Z{hV h &
5.3 AmB.~r.EZ.Ama/AmB.~r.EZ.B.Ama. :
CnJV bo{H$Z gy{MV Zht {H$E JE Xmdm| VWm CnJV bo{H$Z n`m $n go
Agy{MV Xmdm| Ho$ g~Y _| ~r_mH$H _y`mH$Z Ho$ AmYma na n[aH${bV {H$`m
OmVm h &
7. {dXoer _wm H$s gm{ / n[adVZ :

7.1 {dXoer emIm H$s {XZm{H$V VwbZ n Ho$ Am` d `` VWm n[agnpV d
Xm{`d Ama ^maVr` MmbZ _| {dXoer _wm gm{ {ZZ{b{IV H$ma
go {H$`m J`m h
7.1.1. {V_mhr Xam| Ho$ AmgV Xa na Am` d `` &
7.1.2 VwbZ n H$s {XZmH$ {dVr` _Xm| H$mo Cg VmarI na M{bV {d{Z_`
Xam| na n[ad{VV {H$`m J`m h &
7.2. MmbZ H$s g_m{ VH$, {dXoer emIm (Ja g_o{H$V) go g~{YV eof H$s
gm{ Ho$ H$maU hE _wm AVa H$mo {dXoer _wm gm{ Ama{jV _| g{MV
{H$`m J`m h & Ja g_o{H$V {dXoer MmbZ H$s g_m{ na _wm AVa
g{MV am{e Omo b{~V Ama MmbZ go g~{YV hmo, H$mo Cg df H$s g_m{
Ho$ Am` `m `` Ho$ $n _| _mZm OmEJm &
7.3 . ^maVr` H$mamo~ma _| {dXoer _wm gm{ go CnJV AVa g~{YV amOd
ImVo / bm^ d hm{Z ImVo _| Ogm ^r bmJy hmo, _| _m`Vm Xr J`r h &
8. G$U d {Zdoe
8.1 eoà / ~mS> /G$U nm| Ho$ H$` / {~H$r H$ama Ho$ {XZmH$ na {b`m J`m
h (`mnma VmarI) &
8.2. {Zdoe Ho$ bmJV _| ~Yn gofU H$a (Ohm bmJy hmo), A{YJhU na
r{_`_, Ama {Zdoe H$s m{ Ho$ {bE CnJV A` `j IM Ama Cg
na A{OV ew H$_reZ/ewH$ gp_{bV h &
8.3 gm`me eoà {Oh| XrKH$mbrZ {Zdoe Ho$ $n _| _mZm J`m h H$mo N>moS>H$a
VwbZ n H$s VmarI go 12 _hrZm| Ho$ AXa n[and {Zdoem| H$mo
AnH$mbrZ {Zdoe Ho$ $n _| dJuH$V {H$`m J`m h & g_V A` {Zdoem|
H$mo XrKH$mbrZ {Zdoem| Ho$ $n _| dJuH$V {H$`m J`m h &
8.4 An Ad{Y _wm ~mOma XVmdoO Ogo O_m _mU-n, dm{U` H$mJO
Ama gr~rEbAmo, {Og na H$ama Ho$ g_` Ny>Q> {X`m J`m, Ch| ~Q>Q>o _y`
na AmH${bV {H$E JE h &
5.4. C~a Ama Xmdm| g~Yr dgy{b`m:

Xmdm| H$s dgybr Ama C~a H$s {~H$s Ho$ ~mX, Cgo Xmdm| Ho$ {hgm~ _| {b`m J`m h &
6. ~YZ IM
6.1 IM H$m {d^mOZ
~YZ IM H$mo amOd ImVo _| gH$b `j r{_`_ Ed drH$V
nwZ~u_m Ho$ AmYma na ApZ VWm {d{dY H$mamo~ma Ho$ {bE òH$ H$mo
100% Ed g_wr H$mamo~ma Ho$ {bE 75% ^m[aVm XoVo hE ~mQ>o JE h
& nm{bgr Q>n na hE IM H$mo grYo g~{YV amOd ImVo _| {b`m
J`m h & df Ho$ ma^ _| nm{b{gYmaH$m| VWm eoàYmaH$m| H$s {Z{Y Ho$
AmYma na {Zdoe go g~{YV IM, Ogo gwa{jV A{âjm, `mO d
bm^me dgybr ~H$ ^ma Am{X H$mo amOd Ed bm^-hm{Z ImVm| Ho$
~rM {d^m{OV {H$`m J`m h &
6.1.1 nm[bgsYmaHmo Ho eof go g~pYV [d[dY O_m eof Hmo bm^ d hm[Z
ImVo _| Smbm J`m h &
6.2 _y`hmg
6.2.1 H$nZr A{Y{Z`_ 2013 H$s AZwgyMr 11 Ho$ AZwgma _yb bmJV Ho$
5% VH$ Ho$ Ad{eQ> _y` na Ama OrdZ Ho$ bm^Xm`H$ n[agnpV`m|
Ho$ AmYma na Ad{b{IV _y` Umbr na Wm`r n[agnpV`m| H$m
Ad_y`Z {H$`m J`m h &
6.2.2 ^y{_ Ama ^dZ XmoZm| Ho$ {bò g`wV $n go Ad_y`Z {H$`m J`m h
My{H$ Xa nWH$ $n go {ZYm[aV Zht h &
6.2.3. brO hmoS> n[agnpV`m| H$mo brO H$s Ad{Y na n[aemo{YV {H$`m J`m
h &
6. 3. H$_Mmar gw{dYm
6.3.1 AnH$mbrZ H$_Mmar gw{dYm
H$_Mmar mam XV godm Ho$ {bE AnH$mbrZ H$_Mmar gw{dYmAm| H$s
am{e H$mo XV H$aZo H$s `mem h & `h am{e H$_Mmar mam XmZ
H$s JB godm Ad{Y _| _m`Vm Xr J`r h
6.3.2 nadVu H$_Mmar gw{dYm `moOZm`|
190
Payments to defined contribution retirement benefit schemes

are charged as an expense as they fall due.
a. Claims are recognized as and when intimated
For defined benefit schemes, the cost of providing benefits is

determined using the Projected Unit Credit Method, with
actuarial valuations being carried out at each balance sheet
date. Actuarial gains and losses are recognized in full in the
Profit and Loss account for the period in which they occur. Past
service cost is recognized immediately to the extent that the
benefits are already vested, and otherwise is amortized on
straight-line basis over the average period until the benefits
become vested.
b. Liability for outstanding claims in respect of Inward

Acceptances (Indian and Foreign)is based on returns
received up to finalization of accounts. Wherever returns
are not received upto finalization of accounts, the same
has been estimated on actuarial valuation.
5.3
IBNR/IBNER:
Claims Incurred But Not Reported (IBNR) and Incurred But Not
Enough Reported (IBNER) is made on the basis of actuarial
valuation.
5.4
7. TRANSLATION/CONVERSION OF FOREIGN CURRENCIES:
Salvage and Claim related Recoveries:

Recoveries under claims and disposal of salvage are accounted
on realisation and are credited to claims.
6. EXPENSES OF MANAGEMENT:
6.1
Apportionment of expenses:
Expenses of Management are apportioned to the Revenue
Accounts on the basis of gross direct premium plus reinsurance
accepted, giving weightage of 75% for Marine business and
100% for Fire and Miscellaneous business. Expenses relating
to policy stamps and reinsurance are directly taken to
respective Revenue Accounts. Expenses relating to Investment,
such as safe custody, collection of interest/dividend bank
charges etc., are apportioned between Revenue Accounts and
Profit and loss Account based on policyholders and
shareholders funds as at the beginning of the year.
6.1.1
Sundry credit balances not pertaining to policyholders

balances are written back to profit and loss account.
6.2
Depreciation:
6.2.1
Depreciation on fixed assets is charged on written down value

method based on useful life of the Assets and considering
residual value upto 5% of original cost as per Schedule II to the
Companies Act, 2013.
6.2.2
Cost of Lease Hold properties is amortised over the period

of Lease.
6.3
Employee Benefits:
6.3.1
Short-term employee benefits:
7.1
Items of income and expenditure, Monetary items as at the

Balance Sheet date of foreign branch and foreign currency
transactions in Indian operations are translated as under:
7.1.1
Items of income and expenditure at the quarterly average

rates.
7.1.2
Monetary items as at the Balance Sheet date are converted at

the exchange rates prevailing at that date.
7.2
Exchange differences on account of translation of the balances

relating to foreign branch (non-integral) is accumulated in a
Foreign Currency Translation Reserve until the closure of the
operation. On the closure of this non-integral foreign operation,
the cumulative amount of the exchange differences which
have been deferred will be recognized as income or as
expenses in the year of such closure.
7.3
The difference in translation arising out of foreign currency

transaction in Indian operations is recognized in the relevant
Revenue accounts / Profit and Loss Account as applicable.
8. LOANS & INVESTMENT:

8.1
Purchase and sale of shares, bonds & debentures are

accounted for on the date of contract (trade date).
8.2
The cost of investment includes Securities Transaction Tax

(wherever applicable), premium on acquisition and other
direct expenses incurred for the acquisition of the investment
and is net of commission/fee earned thereon.
8.3
Investments maturing within 12 months from the Balance

Sheet date are classified as Short Term Investments except in
respect of Equity Shares which are treated as Long Term
Investments. All other investments are classified as Long Term
Investments.
8.4
Money market instruments such as Certificate of Deposit,
The undiscounted amount of short-term employee benefits

expected to be paid in exchange for the services rendered by
employees is recognized during the period when the employee
renders the service.
6.3.2
Reinsurance:
Post Employment benefit Plans:

191

5.2

8.10.2 {Zdoem| H$mo {ZZ{b{IV H$ma go {ZYmaU {H$`m J`m h

1) g{H$` $n go `mnm[aV gm`me eoàm| H$mo CZHo$ ~mOma _y` na
{bIm OmEJm
2) Ja g{H$` $n go `mnm[aV gm`me eoàm| H$mo `maodma _y` na
{bIm OmEJm Ama Ohm `maodma _y` G$Um_H$ h, dhm òH$
H$nZr H$mo 1/- nò Ho$ _y` na {bIm OmEJm& `{X H$moB
n[aUmd$n hm{Z j{V H$s nhMmZ hmoVr h Vmo Cgo amOd /
bm^ hm{Z ImVo | IM} Ho$ $n | m`Vm Xr OmVr h&
8.10.2.1 amOd / bm^ Ama hm{Z ImVo _| nyd _| A{^kmV hm{Z H$s {VdVZ &
A) g{H$` $n go `mnm[aV gm`me eoàm| Ho$ {bE amOd / bm^ Ama
hm{Z ImVo _| A{^km{nV {H$`m OmEJm &
i) `{X g{MV hm{Z nyU $n go aXX {H$`m J`m Ama
ii) H$nZr Zo nyddVu 3 gmbm| Ho$ {bE ew bm^ Xem`r h
Ama
Am) g{H$` $n go Z `mnm[aV gm`me eoàm| Ho$ {bE amOd / bm^
Ama hm{Z ImVo _| A{^km{nV {H$`m OmEJm &
8.10.3 A{J_ H$s H${V H$mo N>moS>H$a A{Y_mZ eoàm| Ho$ {bE 100% VH$
Wm`r Ad_yy`Z H$s `dWm H$s J`r h & Wm`r Ad_y`Z
{ZZ{b{IV H$ma go AmH$bZ {H$`m J`m h :
A) A{Y_mZ bm^me bJmVma VrZ dfm] Ho$ {bE ^wJVmZ Zht {H$`m J`m
(`m )
Am) n[andVm am{e VrZ dfm] Ho$ {bE Am h (`m )
B) H$nZr _| VrZ nyddVu dfm] Ho$ XmamZ hm{Z hB h VWm {OgH$s nyOr _|
Am{eH$ / nyU $n go hm{Z hB h (`m )
B) Ohm VrZ nyddVu dfm] Ho$ {bE boIm nar{jV dm{fH$ boImE CnbY
Zht h &
8.11. òH$ {Zdoe Ho$ {dH$` /m{ _| bm^ /hm{Z H$m AmH$bZ {Zdoem| Ho$
g^m[aV AmgV A{H$V _y` Ho$ AmYma na {H$`m J`m h &
8.12. bm^me Am` (A{V_ bm^me H$mo N>moS>H$a) H$mo Kmo{fV df Ho$ Am` Ho$
$n _| ImVo _| {b`m J`m h & AV[a_ bm^me ,^maV Ho$ ~mha Ho$
gm`mm eoàm| H$m bm^mm Ama A{Y_mZ eoàm| H$m bm^mm m{ Ho$
AmYma na n[aH$bZ [H `m J`m h & $eoà Ama G$U n go Am` Omo
Amn{V / {dVaU b{~V Ho$ AYrZ hmo CZH$m AmH$bZ dgybr na
{H$`m J`m h &
8.13. d|Ma H$m{nQ>b \$S> Ho$ amOd H$mo m{ Ho$ AmYma na _m`Vm Xr J`r
h &
8.5
{Zdoe Ama F$U {V^y{V`m ,gaH$mar {V^y{V`m| g{hV Ama

A{YmZ eoàm| H$mo n[aemoYZ H$aZo Ho$ {bò bmJV na {XIm`m
OmVm h& `{X H$moB hmo Vmo, XVmdoO H$s IarX H$s {V{W go
n[an$Vm / emoYZ Ho$ nyddVu df H$s Ad{Y Ho$ {bò nwQ> /
H$mb {dH$n na {dMma H$aHo$ ^m[aV AmgV bmJV Ho$ AmYma
n[aemo{YV {H$`m OmVm h&
86.
g{H$` ~mOma _| g{H$` $n go `mnm[aV gm`me eoàm| _| {Zdo{eV
eoàmo H$m _y` VwbZ nV H$s VmarI H$mo EZ. Eg. B. _| CH${mV
`yZV_ _y` na _y`m{H$V {H$`m J`m h ~{H$ `{X H$moB eoà
EZ.Eg.B. _| Jagy{M~ hmo Vmo gm`me eoàm| H$m _y` VwbZ nV H$s
VmarI H$mo ~r.Eg.B. _| CH${mV `yZV_ _y` na _y`m{H$V {H$`m
J`m h & gyMr~ Ama g{H$` $n go `mnm[aV H$n{Z`m| Ho$ gm`me
eoàm| _| {Zdo{eV eoàm H$m _y`, bXZ Q>mH$ EHgM|O Ho$ `yZV_
_y`, na _y`m{H$V {H$`m J`m h &Am bm^ hm{Z H$mo ghr _y`
n[adVZ ImVo _o _m`Vm Xr J`r h &
8.7 {dXoer H$n{Z`m| Ho$ eoàm| g{hV g{H$` ~mOma _| Ja gyMr~ / _X
`mnm[aV gm`me eoàm| H$mo bmJV na _y`m{H$V {H$`m J`m h & O~
{dbo{fV _y`, _yb bmJV go H$_ hmo V~ Ad_y`Z Ho$ {bò mdYmZ
{H$`m J`m h & Ohm {dbo{fV _y` ZH$mam_H$ hmo Vmo ImVm _y` na
100% H$m mdYmZ {H$`m J`m h &
8.8 A) {Z{Y mam Kmo{fVmZwgma VwbZ n H$s VmarI na `yMwAb \$S> Ho$
`w{ZQ>m| _| {Zdo{eV `w{ZQ>m| H$m _y` ew n[agnpV _y` na
{ZYm[aV {H$`m J`m h VWm Am bm^ / hm{Z H$mo ghr _y`
n[adVZ ImVo _| _m`Vm Xr J`r h &
Am) d|Ma H$m{nQ>b \$S> {Zdoe H$mo bmJV na {ZYm[aV {H$`m J`m h Ama
{Zdoe Ho$ Ad_y`Z hoVw mdYmZ {H$`m J`m h Ohm ew n[agnpV
_y` VwbZ n H$s VmarI na Ho$ bmJV go H$_ hmo & `{X ew
n[agnpV _y` VwbZ n H$s VmarI na CnbY Zht hmo Vmo VwbZ
n Ho$ Amgnmg H$s VmarI H$mo CnbY ew n[agnpV _y` {b`m
OmEJm &
8.9 H$nZr mam gn{m Ho$ dJuH$aU, Am` H$s m`Vm Ed F$U /
A{J / {S>~|Ma go g~{YV mdYmZ Ho$ {bò ^maVs` ~s_m
[d[Z`m_H Ama [dHmg m[YHaU / Ama~rAmB Ho$ {Xem {ZX}em|
mam {Xò Jò {ZYm[aV mZXS>m| H$m {ddoH$nyU $n go nmbZ
{H$`m OmVm h&
8.10 hm{Z A{^kmV h
8.10.1 H$nZr Ho$ gm`me eoàm| _| Ohm VrZ nyddVu dfm] Ho XmamZ {ZaVa
hm{Z CnJV h Ama nyOr {OgH$s hm{Z Am{eH$ $n go `m nyUV: hB
h `m Ohm JV VrZ dfm] Ho$ {bE boIm nar{jV dm{fH$ boImE CnbY
Zhr h &
192
8.6
8.7
1. Equity shares which are actively traded are written down to

their market value.
Investments in debt securities including Government Securities

and redeemable Preference Shares are shown at cost subject
to amortisation. The premium, based on weighted average
cost is amortized for the period from the date of purchase of
the instrument till the end of the financial year preceeding the
year of maturity/ redemption, by considering put/call option, if
any.
2. Equity shares other than actively traded, are written down to

the break up value and where the break up value is
negative, are written down to `1/- per company.
Consequent Impairment loss if any is recognized as
expense in Revenue/ Profit & Loss account.
8.10.2.1 Any reversal of impairment loss, earlier recognized in
Revenue/Profit & Loss account,
Investments in Equity shares that are actively traded are

valued at the last quoted closing price on NSE (Primary
Exchange) as on Balance Sheet date. However, in case of any
stock not being listed/ not traded in NSE, Equity shares will be
valued based on last quoted closing price in BSE (Secondary
Exchange) as on the Balance Sheet date. Investments in Equity
shares of companies outside India that are quoted and actively
traded are valued at last quoted price at London Stock
Exchange as on the Balance Sheet date. The unrealised gains/
losses are recognised in Fair Value Change account.
(a) in respect of Actively Traded Equity shares- shall be

recognized in the Revenue/Profit & Loss account
i)
ii) The company has shown net profit for three immediately
preceding years.
And
(b) in respect of other than Actively traded equity shares,
shall be recognized in the Revenue/Profit & Loss
account, on realization
Investments in Unlisted/Thinly traded equity shares including

shares held in companies incorporated outside India are
valued at cost and provision is made for diminution in value of
such investments when break-up value is lower than the cost.
In case the break-up value is negative, provision is made @
100% of book value.
8.10.3 In respect of preference shares other than those in the nature

of advances, provision for permanent diminution is made to
the extent of 100%. The permanent diminution is reckoned as
follows:
a. The preference dividend is not paid for three consecutive
years (or)
8.8 a) Investment in units of Mutual funds, are valued at Net Asset

Value as at the Balance Sheet date as declared by the funds
and unrealized gains / losses are recognized in Fair Value
Change Account.
b. The maturity proceeds have not been received for three

consecutive years (or)
c. The company has incurred losses in three immediately
preceding years and the capital of which has been
partially or fully eroded (or)
b) Investments in Venture Capital Funds are valued at cost.

Provision is made for diminution in value of such investments
where Net Asset Value as at the Balance Sheet date is lower
than cost. Wherever Net Asset Value as on Balance sheet date
is not available latest available Net Asset Value is considered.
8.9
if the accumulated losses are completely wiped out and
d. Where the audited annual accounts for the three

immediately preceding years are not available
The Company follows the prudential norms prescribed by the

IRDAI/ Related RBI guidelines as regards asset classification,
recognition of income and provisioning pertaining to loans/
advances/ debentures.
8.11
Profit or Loss on realization/sale of investment is computed by

taking weighted average
book value of each
investment.
8.12
Dividend income (other than interim dividend) is accounted for

as income in the year of declaration. Interim dividends,
dividend on Equity held outside India and dividend on
Preference Shares are accounted on receipt basis. Income
from shares and debentures, which are under objection /
pending delivery, is accounted for on receipt basis.
8.13
Revenue with respect to Venture Capital Funds is recognised

on Receipt basis.
8.10 Impairment
8.10.1 Impairment is recognized in equity shares of companies which
have been continuously incurring losses during three
immediately preceding years and the capital of which has
been partially or fully eroded, or where the audited annual
accounts for the three immediately preceding years are not
available.
193

8.5
Investments are written down as under:
8.10.2
Commercial Papers and CBLO which are discounted at the

time of contract, are accounted at their discounted value.

8.14. ^{d` _| `mO H$s hm{Z hoVw m j{Vny{V am{e H$mo {dVr` df _|
drH$V gr_m Am` Ho$ $n _| _m`Vm Xr J`r h VWm eof H$mo g~pYV
dfm] _| Am~Q>Z hoVw A{J_ _| m `mO ImVo _| {b`m J`m h &
8.15 df Ho$ ma^ _| nm{bgrYmaH$m| {Z{Y Ama eoàYmaH$m| H$s {Z{Y
Ho$ AmYma na {Zdoe Am`, {Zdoe H$s {~H$s / m{ na bm^
`m hm{Z {Zdoe go g~pYV ``, {Zdoe r{_`_ Hm n[aemoYZ,
Ja {Zn{XV {Zdoe Ad_yy`Z Ho$ {bE mdYmZ, Ama ~Q>Q>o
ImVo _| S>mbr J`r /Ad{b{IV am{e, H$mo amOd Ama bm^
Ama hm{Z ImVo _| {d^m{OV {H$`m J`m h& df Ho$ ma^ |
CnbY g~pYV VH$ZrH$s [aOd Ho$ eof am{e Ho$ AmYma na
Am` / `` H$mo amOd ImVm| | {d^m{OV {H$`m OmVm h&
8.16 ~b|g erQ> V`ma H$aVo g` eoàYmaH$m| Ama nm{bgrYmaH$m| g~Yr
{Zdoe H$mo `mdhm[aH$ H${R>ZmB`m| Ho$ H$maU AbJ go gHo${VH$ Zht
{H$`m h& eoà YmaH$m| d nmbrgr YmaH$mo Ho$ $S> Ho$ map^H$ eof Ho$
AZwnmV Ho$ AmYma na eoà YmaH$m| d nmbrgr YmaH$ $S> | {Zdoe Ho$
{bò eoà YmaH$m| d nmbrgr YmaH$mo g~Yr dJuH$aU H$s Zr{V H$m
AZwgaU H$aVr h&
9. A) [ma n[agnpV`m
Wm`r n[agnpV`m| H$mo g{MV m{gV H$mo KQ>mH$a Wm`r n[agnpV`m|
H$mo Xem`m J`m h & O~ VH$ gnpV Cn`moJ Ho$ {bE V`ma h V~
VH$ `j bmJV H$m bm^ CR>m aho h & Bg bmJV _| ^mS>m, WmnZ
bmJV, ewH$, H$a Ama A` Am~{Q>V `` gp_{bV h & AmJo bmJV
H$s JUZm _| `mnma H$s Ny>Q> Ama Ny>Q> H$mo KQ>m`m J`m h
Am) A`j n[agnpV`m
A`j n[agnpV`m g{MV n[aemoYZ Ho$ nMmV {Z_mU / A{YJhU
bmJV na AmH${bV h& CZH$mo grYr Umbr AmYma na VrZ df H$s
Ad{Y Ho$ {bE n[aemo{YV h& gm\$Q>doà {dH$mg / A{YJhU bmJV
H$mo amOd _| ^m[aV h & Bg_| boIm _mZH$ 26 _| (E.Eg. 26) _|
_m`Vm Ho$ {bE {ZYm[aV `mo`Vm H$mo nyam H$aVm h, CZH$mo gp_{bV
Zht {H$`m J`m h &
10. H$a
10.1 Am` Ha `` _o Mmbw Ha (AWmV Am` Ha Omo Am`H$a {Z`_
Ho AZwgma C$ Ad[Y hoVw JUZm Hs J`s) Ama AmW[JV Ha
ewH `m O_m (C$ Ad{Y hoVw boImH$Z Am` Ama H$a `mo`
Ho$ ~rM g_` _V _oX Ho$ H$a n^md H$mo XemVr h)& AmW{JV
H$a n^ma `m O_m VWm CgH$r AmW{JV H$a Xo`VmE `m
n{agn{m`mo H$mo H$a Ho$ Xa na _m`Vm Xr JB h Omo
A{Y{Z`{_V hmo `m VwbZ n VmarI H$mo A{Y{Z`{_V hmo&
10.2
H$a H$m mdYmZ H$nZr H$mCgob mam {Xò Jò bmJy H$mZyZr
[ZU` Ama am` Ho$ AmYma na {H$`m J`m h&
10.3 H$a {Z`_m| Ho$ AZwgma XV `yZV_ dH$pnH$ H$a Omo
^{d` Am` H$a Xo`Vm Ho$ g_m`moOH$ Ho$ $n _| ^{d` _|
Am{WH$ bm^ XmZ H$aVr h VWm {Ogo n[agnpV Ho$ $n
_| _mZm OmVm h ~eV] {H$ H$nZr gm_m` Am` H$a ^wJVmZ
H$aZo R>mog g~yV aIVr h& VXZwgma _Q> (MAT) H$mo VwbZ
n _| n[agnpV Ho$ $n _| _m`Vm m hmoJr O~ {H$ Cggo
OwS>o ^{d` H$s Am{WH$ bm^ H$nZr H$mo m hmoJr&
10.4. AmW{JV H$a n[agnpV`m| H$mo Cg gr_m VH$ hr _m`Vm Xr J`r h
Ohm n[agnpV`m ^{d` _| m H$aZo H$s g^mdZm hmo & H$a {Z`_
Ho$ VhV Ja g_m{dQ> _y`mg `m AJo{fV hm{Z Ho$ g~Y _| AmW{JV
H$a n[agnpV`m H$mo Cg hX VH$ _m`Vm Xr J`r h Ohm AmW{JV
H$a m H$aZo H$s g^mdZm hmo & AmW{JV n[agnpV`m| H$s g_rjm
VwbZ n H$s VmarI na H$s OmVr h &
11.nQ>Q>m ^ma
nQ>Q>m Ohm nQ> Q>mXmVm ^mdr T>J go nQ>Q>o Ho$ dm{_d Ho$ g^r Omo{I_m|
Ama gw{dYmAm| H$mo AnZo A{YH$ma _| aIVm h, CZH$mo n[aMm{bV nQ>Q>o
Ho$ $n _| dJuH$V {H$`m J`m h& nQ>Q>o H$s Ad{Y _| grYr aoIm Ho$ AmYma
na bm^ Ama hm{Z ImVo _| n[aMm{bV nQ>Q>o Xo`VmAm| H$mo `` Ho$ $n
_| A{^km{nV h& g^r n>m gPmVo H$nZr Ho$ {dH$n na a {H$ò
OmZo `mo` h&
12.mdYmZ VWm AmH$p_H$ Xo`VmE
12.1 nyd KQ>Zm H$o \$bd$n g^d AZw_mZ Ho$ AmYma na dV_mZ _|
~m`Vm hmoZo na H$nZr mdYmZ H$s `dWm H aVr h {OgHo$ mam
^{d` _| gmoVmo| H$m IM hmoVm h&
12.2 AmH$p_H$ Xo`Vm H$m H$Q>Z V^r {H$`m OmVm h O~ ~m`Vm H$r
g^mdZm hmo `m dV_mZ ~m`Vm _| gmoVmo| H$s Anojm hmo gH$Vr h `m
Zht &
12.3 {dVr` {ddaUm| _| AmH$p_H$ n[agnpV`m| H$mo _m`Vm Zht {X`m J`m
h `m H$Q>Z {H$`m J`m h &
194
8.16
9.
Investment income, profit/loss on sale/realisation of

investment, expenditure relating to investments, amortisation
of premium on investments, amount written off/written down
in respect of depreciated investments, provision for non
performing investment/diminution in value are apportioned to
Revenue accounts and Profit & Loss account on the basis of
Policy holders Fund and Share holders Fund as at the
beginning of the year. The Income/ Expenditure is further
apportioned between the revenue accounts on the basis of
respective technical reserve balances as at the beginning of
the year.
The investments pertaining to shareholders and policy holders
are not indicated separately while preparing Balance Sheet as
it is not feasible due to practical difficulties. The Company
follows the policy of classifying the investments into
shareholders and policyholders funds in the proportion
opening balance of shareholders funds and policyholder funds.
10.2
Provision for current tax is made after due consideration of the

applicable judicial pronouncements and opinions from the
companys counsel.
10.3
Minimum Alternate Tax (MAT) paid in accordance with the tax

laws, which gives future economic benefits in the form of
adjustment to future income tax liability, is considered as an
asset if there is convincing evidence that the Company will pay
normal income tax. Accordingly, MAT is recognized as an asset
in the Balance Sheet when it is probable that future economic
benefit associated with it will flow to the Company.
10.4
Deferred tax assets are recognized only to the extent there is

reasonable certainty that the assets can be realized in future.
In the case of unabsorbed depreciation or carried forward loss
under taxation laws, deferred tax assets are recognized only to
the extent there is virtual certainty that the deferred tax assets
can be realized. Deferred tax assets are reviewed as at each
balance sheet date.
11. Lease charges

Leases, where the lessor effectively retains substantially
all the risks and benefits of ownership of the leased item,
are classified as operating leases. Operating lease
payments are recognized as an expense in the statement
of profit and loss on a straight-line basis over the lease
term. All lease agreement are cancellable at the option of
the company.
a) FIXED ASSETS:
Fixed assets are stated at cost of acquisition less
accumulated depreciation. Direct costs are capitalized till
the assets are ready to be put to use. These costs include
freight, installation costs, duties, taxes and other allocated
expenses. Further any trade discounts and rebates are
deducted in arriving at the cost.
12. PROVISIONS AND CONTINGENCIES(CLAIMS OTHER THAN

THOSE UNDER POLICIES)
b) INTANGIBLE ASSETS:
Intangible Assets are stated at cost of development /
acquisition less accumulated amortisation. The same is
amortised over a period of three years on straight line
basis. Software development / acquisition costs, except
those which meet the recognition criteria as laid down in
Accounting Standard 26 (AS 26), are charged to revenue.
10. TAXATION.
10.1
8.15
credit and the corresponding deferred tax liabilities or assets

are recognized using the tax rates that have been enacted or
substantively enacted as on the balance sheet date.
Amounts received towards compensation for future loss of

interest is recognized as income only to the extent attributable
to the accounting year and the balance is kept in interest
received in advance account for apportionment in the relevant
years.
Income tax expense comprises current tax (i.e amount of tax

for the period determined in accordance with the income-tax
law) and deferred tax charge or credit (reflecting the tax
effects of timing differences between the accounting income
and taxable income for the period). The deferred tax charge or
195
12.1
The Company creates provision based on a reliable estimate

for the present obligation of a past event that might cause
outflow of resources in future.
12.2
Disclosure for a contingent liability is made when there is a

possible obligation or a present obligation that may or may not
require an outflow of resources.
12.3
Contingent assets are neither recognized nor disclosed in the


8.14
boImAmo _o g{_{bV {Qn{U`

II. boImAmo _o g{_{bV {Qn{U`
1. AmH$p_H$ Xo`mmE
(` 000)
31.03.2016
{ddaU
800
800
Am{eH MwH Vm eoà
2362032
734728
nm{bgr Ho$ VhV A` Xmdo {Oh| H$nZr G$U Zht _mZVr
0
0
eof ~r_mboIZ Xo`Vm ( eoàm| Ama `m^y{V`m| Ho$ g~Y _| )
0
0
H$nZr mam `m CgH$s Amoa go Xr JB {V^y{V`m
4887659
4388701
{ddmXmnX dYm{ZH$ _mJ / Xo`Vmò {OgH$m mdYmZ Zht {H$`m J`m
0
0
nwZ~u_m Xo`VmAm| H s gr_m VH Ho$ {bò mdYmZ Zht {H$`m J`m h
0
0
A` {ddaUmZwgma
ZmoQ : Am`H$a {d^mJ Zo H$nZr H$mo dmng H$s OmZr am{e ` 1716961 hOma (` 1367556 hOma) dV: AmXe dm` am{e H$mo g_m`moOZm {H$`m &
2. (A) ^maV _| Ama ^maV Ho$ ~mha H$nZr H$s n[agnpV`m| H$m Xm{`d
(` 000)
{ddaU
gmm n / JmaQ>r n Omar H$aZo Ho$ {bò O_m `yZV_ am{e
`m`mb` Ho$ AmXoe Ho$ AZwgma `m`mb` _| O_m H$s J`r am{e / Xmdm| Ho$ {bò ~H$ ImVm| H$s Hw$H$s
{dXoer dYm{ZH$ AnojmAm| Ho$ AZwnmbZ _| O_m H$s J`r am{e
10.70% Or Amo AmB 2020 - ^maVr` br`[aJ {ZJ_ _| gr.~r.Eb.Amo. MmbZ hoVw O_m- E\ dr `10000 hOma
2. (Am)

NOTES TO ACCOUNTS
31.03.2015
2. (B)
(i)
gm{d{YH$ AnojmAm| Ho$ AZwgma {H$E JE {Zdoe / O_m

~rm A{Y{Z`, 1938 H$s Ymam 7 Ho$ AZwgma Ama~rAmB
Ho$ nmg Om ^maVr` ~rm {d{Z`mH$ Ama {dH$mg
m{YH$aU H$s `yZV Om H$s Amd`H$Vm am{e ey` h
(`123206 hOma)& (A{H$V y` `120010 hOma)&
~rm A{Y{Z` 1938 H$s Ymam 7 Ho$ VhV Om H$mo
IRDAI mam n[an AmBAmaS>rE/E$AmB./grAmBAma/
AmBEZdr/ 093/04/2015 {XZmH$ 30 Ab 2015
go dmng bo {b`m J`m h &
A{J_ Ama O_m g{hV
ZH$X ~mOma m| gWm H$mamo~ma H$s grmm Ho$ g~Y m| go~r
(ii)
(iii)
31.03.2016
31.03.2015
7000
7000
12824
11934
10213
10266
n[an {X.19.3.08 Ho$ AZwgma nyOr ~mOma m| H$mamo~ma

H$aZo Ho$ {bE _x~B Q>mH$ ~mOma m| ` 50000 hOma (JV
df ` 50000 hOma) H$s `yZVm am{e H$s Omm&
n[an {X.19.3.08 Ho$ AZwgma nyOr ~mOma m| H$mamo~ma
H$aZo Ho$ {bE ZoeZb Q>mH$ ~mOma m| ` 100000 hOma
(JV df ` 100000 hOma) H$s `yZVm am{e H$s Omm&
^maVr` br`[aJ {ZJ_ _| gr.~r.Eb.Amo. MmbZ hoVw
` 100 hOma (JV df ` 100 hOma) H$s `yZVm am{e
Omm H r &
3. G$U, {Zdoe Ama [Wa n[agnpV`m| Ho$ H$maU AZw_m{ZV Xo`mmE
(` 000)
31.03.2016
{ddaU
G$U Ama {Zdoe
gnXm H$s Xo`Vm
BS>rnr / H$moa B`ya|g n[a`moOZm H$s Xo`Vm
Q>mn ewH$ Ama nOrH$aU Xa Ed ~H$m`m H$`|g (AZw_m{ZV)
196
31.03.2015
802544
831806
2862701
23262
1050942
1324215
28544
4549
II. NOTES TO ACCOUNTS:

1. Contingent Liabilities:
(` 000)
Particulars
31.03.2016
On partly paid investments

Claims other than those under policies, not acknowledged as debts
Underwriting commitments outstanding (in respect of shares and securities)
Guarantees given by or on behalf of the Company
31.03.2015
800
800
2362032
734728
4887659
4388701
Reinsurance obligations to the extent not provided for in accounts
Others (to be specified)
Statutory demands / liabilities in dispute, not provided for
NOTES TO ACCOUNTS
Note: The Income Tax authorities have suo-moto adjusted the refund due to the company amounting to `1716961 thousands
(`1367556 thousands).
2(a) Encumbrances to assets of the Company within and outside India.
(` 000)
Particulars
31.03.2016
31.03.2015
Deposits towards margin money for issue of letters of credit / bank guarantee
7000
7000
Deposits made in court as per orders /attachments of bank accounts for claims
12824
11934
10213
10266
Deposits made to comply with Overseas Statutory requirements

10.70% GOI 2020 deposited with Clearing Corporation of India for CBLO operation FV ` 10000 thousands
Bombay Stock Exchange towards Margin Money for

trading in Capital Market as per SEBI circular dated
19.03.2008 regarding Margin of Institutional Trades in
the Cash Market.
Investments / Deposits made in accordance with

statutory requirements:
Deposit with RBI in accordance with section 7 of the
Insurance Act, 1938 to adhere to minimum deposit
requirement of Insurance Regulatory Development
Authority of India is NIL (` 123206 thousands). (Face
value ` 120010 thousands). Deposit under section 7 of
Insurance Act 1938, has been withdrawn by IRDAI vide
Circular IRDA/F&I/CIR/INV/093/04/2015 dated 30th
April 2015.
2(c)
Advances and Deposits includes:
i.
`50000 thousands (`50000 thousands) deposited with
ii.
`100000 thousands (`100000 Thousands) deposited

with National Stock Exchange towards Margin Money
for trading in Capital Market as per SEBI circular dated
19.03.2008 regarding Margin of Institutional Trades in
the Cash Market.
iii.
`100 thousands (`100 thousands) by way of margin

money has been deposited with Clearing Corporation
of India for CBLO operation.
3. Commitments made and outstanding on account of loans, investments and fixed assets:
Particulars
(` 000)
31.03.2016
Loans and Investment
802544
31.03.2015
831806
Commitments for Estates
2862701
23262
Commitments for EDP/Core Insurance Project
1050942
1324215
28544
4549
Stamp duty and Registration charges and pending conveyance (estimated at)
197

NOTES TO ACCOUNTS
2(b).
4. ^maV _| / ^maV Ho$ ~mha XmdoXmam| H$mo AXm {H$ò Jò nwZ~u_m a{hV Xmdo
H$mamo~ma
(` 000)
^maV _|
ApZ
g_wr
{d{dY
^maV Ho$ ~mha
31.03.2016
31.03.2015
31.03.2016
31.03.2015
4573606
4651241
101054
119622
1865928
2128221
12420
28937
75173201
61468931
45806
205793
5. nmM dfm] Ho {cE {db{~V Xmdm| H m dfdma {ddaU gbZ h &

6. ^maV _| / ^maV Ho$ ~mha {H$ò Jò H$mamo~ma go m nwZ~u_m a{hV r{_`_
H$mamo~ma
^maV _|
ApZ
g_wr
{d{dY
7.
8.
9.
(` 000)
^maV Ho$ ~mha
31.03.2016
31.03.2015
31.03.2016
31.03.2015
8114740
7455803
121471
142586
2699910
2954549
5700
9441
96121010
82636435
82746
61409
A` Am` _| {d{^ dfmo Ho$ Am` H a {a\ S ey`

(`180402 hOma) H$m `mO gp_{bV h &
31-3-2016 H$mo {Zdoe Ho$ H ` Ho$ g~Y m| {ZnmXZ Ho$
{bE b{~V Zht h Ama {Zdoe Ho$ {dH ` Ho$ g~Y m| ^wJVmZ
A{VXo` Zht h & ( JV df ey` )
~r_m {d{Z`m_H Ama {dH mg m{YH aU (AmB.Ama.Sr.E.) mam
{ZYm[aV {Z`_m| Ho AZwgma, gyMr~ gm`me eoàm| Ama
nman{aH {Z{Y Ho _y` _| hwE n{adVZ Ho H maU Adgy{bV

cm^ (ew) ` 41358645 hOma (` 58872971 hOma)
H mo ghr _y` n{adVZ ImVo _| {b`m J`m h & Eogo {Zdoem| H m
Eo{Vhm{gH bmJV ` 53516340 hOma (` 45784576
hOma) h & b{~V dgycr Ho n{aUm_d n O_m eof Omo {H
ghr _y` n{adVZ ImVo _| h, {dVaU Ho {bE CncY Zht
h &
10 ghr my` AmYma na my`m{H$V ~mOma my` Ama Eo{Vhm{gH$ bmJV H$m mXdma {ddaU {ZZmZwgma h

NOTES TO ACCOUNTS
{ddaU
~mOma _y`
31.03.2016
gm`me eoà
nman{aH {Z{Y
Hw$b
Eo{Vhm{gH$ bmJV
31.03.2015
31.03.2016
(` 000)
ghr _y` n[adVZ
31.03.2015
31.03.2016
92937113
102965974
51606842
44175079
41330271
58790895
1937872
1691574
1909498
1609498
28374
82076
94874985
104657548
53516340
45784577
41358645
58872971
11. {Zdoem| H$mo {ZnmXZ Ama Ja {ZnmXZ Ho$ $n _| dJuH$aU

{ddaU
31.03.2015
(` 000)
31.03.2016
{ZnmXZ n[agnpV
Ja {ZnmXZ n[agnpV
Hw$b
31.03.2015
195668301
189971854
984565
1003794
196652866
190975648
AmB. Ama. S>r. E. Ho$ _mZXS>mZwgma Ja {ZnmXZ n[agnpV (ew A{Y`mJ/ gM`Z) Ho$ {bE Mmby boIm df _| ` 616375 hOma (` 626295
hOma) VH$ Ama 31 _mM 2016 VH$ ` 4739290 hOma ( ` 4122915 hOma) Am` H$mo Hw$b am{e Ho$ {bò _m`Vm m Zht h &
198
Business
(` 000)
In India
Outside India
31.03.2016
31.03.2015
31.03.2016
31.03.2015
Fire
4573606
4651241
101054
119622
Marine
1865928
2128221
12420
28937
75173201
61468931
45806
205793
Miscellaneous
4. Claims less reinsurance, paid to claimants in/outside India:
5. Age wise outstanding claims statements for five years are enclosed.
6. Premium less reinsurance written from business in/outside India:
In India
Fire
Marine
Miscellaneous
Outside India
31.03.2016
31.03.2015
31.03.2016
31.03.2015
8114740
7455803
121471
142586
2699910
2954549
5700
9441
96121010
82636435
82746
61409
7)
Other income includes interest on income tax refund of

`180402 thousands (` NIL) pertaining to various years.
8)
In respect of Purchases of Investments no deliveries are

pending and in respect of sale of Investments, no
payments are overdue as on 31.03.2016 (` NIL).
9)
In accordance with the regulation prescribed by IRDAI,

unrealized gains (net) amounting to ` 41358645 thousands
10)
Break up of Market value and historical costs of investments which have been valued on fair value basis are as follows:
Market Value
Particulars
31.03.2016
Equity Shares
Total
Historical Cost
31.03.2015
31.03.2016
(` 000)
Fair value change
31.03.2015
31.03.2016
31.03.2015
92937113
102965974
51606842
44175079
41330271
58790895
1937872
1691574
1909498
1609498
28374
82076
94874985
104657548
53516340
45784577
41358645
58872971
Mutual fund
11.
(` 58872971 thousands) arising due to changes in the

fair value of listed equity shares and mutual funds are
taken to fair value change account. The historical cost
(net of write off) of such investments amounted to `
53516340 thousands (`45784576 thousands). Pending
realization, the credit balance in the fair value change
Account is not available for distribution.
Segregation of Investments into performing and non-performing assets:

(` 000)
Particulars
31.03.2016
Performing Assets
31.03.2015
195668301
Non-Performing Assets
Total
189971854
984565
1003794
196652866
190975648
The aggregate amount of income not recognized for the current accounting year on NPA (net of waiver/collections) as per related IRDAI
guidelines is ` 616375 thousands ( ` 626295 thousands) and up to 31st March 2016 is ` 4739290 thousands ( `4122915 thousands).
199

NOTES TO ACCOUNTS
Business
(` 000)
12.
H _ g.
31.03.2016 H$mo nwZg{MV Ho$ AYrZ F$U n[agn{m`m
(` 000)
31.03.2016
1.
{ddaU
n[agnpV`m| H$r Hw$b am{e, Omo nwZgaMZm Ho$ AYrZ hmo &
2.
_mZH$ n[agnpV`m| H$r am{e, Omo nwZgaMZm Ho$ AYrZ hmo &
3.
Ad _mZH$ n[agnpV`m| H$r am{e, Omo nwZgaMZm Ho$ AYrZ hmo &
4.
g{XY Ama A` n[agn{V`m| H$r am{e,Omo nwZgaMZm Ho$ AYrZ hmo &
31.03.2015
355942
372846
282672
296950
73269
75896
13. H nZr Ho$ nmg {a`b EQ>oQ> {Zdoe gnpV Zht h &
14. n[an g.AmBAmaS>rE/E\ &AmB / n[a / AmBEZdr / 250/12/2012 {X. 4-12-2012 Ho$ AZwgma aonmo/{VdVZ aonmo H$m` {ddam _|
H${Q>V gyMZmAm| H$m {ddaU {ZZ{b{IV h
(` 000)
{ddaU
df Ho$ XmamZ `yZV_

~H$m`m
df Ho$ XmamZ A{YH$V_

~H$m`m
df Ho$ XmamZ ~H$m`m

X{ZH$ AmgV
31 _mM H$mo ~H$m`m
31.03.2016 31.03.2015 31.03.2016 31.03.2015 31.03.2016 31.03.2015 31.03.2016 31.03.2015
aonmo Ho$ AYrZ {dH$`

{V^y{V`m
(i) gaH$mar {V^y{V`m
(ii) {ZJ_r` G$U
{V^y{V`m

NOTES TO ACCOUNTS
{VdVZ aonmo Ho$ AYrZ H$`

{V^y{V`m
(i) gaH$mar {V^y{V`m
(ii) {ZJ_r` G$U
{V^y{V`m
15.
16.
17.
A)
Am)
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
107016
100049
1576221
1266561
319415
565227
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
18.
~YZ doVZ H$m {ddaU ZmoQ> 29 _| H${Q>V h &

{ddmXmnX _m_bm| H$mo N>moS>H$a A` H$moB ^r {ZnQ>m{ZV Xmdm
VwbZ n H$s VmarI H$mo N> _hrZo go A{YH$ Ad{Y Ho$ {bE
~H$m`m Zht h &
pWa n[agn{V`m| _| gp_{bV h
^y{_ dm{_d _| ~|Jbya mBZm{g`b [gQ r _| AmBE\$grAmB
B\$ mQ>Ma {dH$mg {b. go A{YJhU ^y{_ gp_{bV h& Cn nQ>Qo
gh {dH$` H$ama H$s am{e ` 39761 hOma h& Bg A{YJhU ^y{_
na {ZYm[aV g_` gr_m Ho$ AXa H$m`mb` n[aga Ho$ {Z_mU H r
nVr hmOoo na H$nZr Ho$ Zm_ na nOrH$V {H$`m OmEJm&
` 50537 hOma (` 50537 hOma) Ho$ _y` H$s ^y{_ Ama
Jh gn{V Omo$ hVmVaU Ama nOrH$aU Ho$ {bE b{~V h
dh Bg_| gp_{bV h & Bg {ddmX Ho VhV EH gn{m `
920 hOma (` 920 hOma) Hr am{e em{_b h &
19.
A)
Am)
200
{d{dY boZXma _| ey` A{Veof ^wJVmZ ImVo go Omar

`1614673 hOma (`1415091 hOma) VH$ H$s Ja
^wZmò MoH$ H$s am{e gp_{bV h &
^maVr` _moQ>a VVr` nj AdrH$V Omo{I_ ~r_m nyb
(AdrH$V Omo{I_ nyb)
AmB.Ama.S>r.E.Zo AnZo n[an g. AmB.Ama.S>r.E. / EZEb /
AmoAmaS>r/ E_nrEb / 277 / 12 /2011 {X. 23-122011 Ho$ _m`_ go 1-4-2012 go loUr A & BAma C,
jo Ho$ dm{U` dmhZm| Ho$ {bò EH$b VVr` nj Xm{`d ~r_m
(Ho$db EQ> ~r_m) hoVw AdrH$V Omo{I_ nyb H$m JR>Z {H$`m
h& AmB.Ama.S>r.E Ho$ _mZXS>m| Ama g~{YV H$nZr H$s ~r_
mboIZ nm{bgr Ho$ AZwgma AdrH$V dm{U` dmhZm| H$m
Ho$db EQ> ~r_m Bg nyb Ho$ AVJV Amd[aV h &
AdrH$V Omo{I_ nyb Ho$ n[aUm_d$n H$nZr mam {H$ò Jò
`mnma H$m {ddaU {ZZ{b{IV h:
Loan assets subject to Restructuring as on 31.03.2016
Sl.No
(` 000)
Particulars
31.03.2016
31.03.2015
1.
Total amount of assets subjected to restructuring
355942
372846
2.
The amount of standard assets subjected to restructuring
282672
296950
3.
The amount of Sub-Standard assets subjected to restructuring
4.
The amount of Doubtful and other assets subjected to restructuring
73269
75896
13.
The Company does not have Real Estate Investment Property
14.
In accordance with Circular No. IRDA/F&I/CIR/INV/250/12/2012 dated 4/12/2012, the details of exposure in Repo/Reverse Repo
transactions are given below:
(` 000)
Minimum outstanding
during the year
Particulars
Maximum outstanding
during the year
Daily Average
Outstanding during the
year
12.
Outstanding as on
31.03.2016 31.03.2015 31.03.2016 31.03.2015 31.03.2016 31.03.2015 31.03.2016 31.03.2015

Securities Sold under Repo
(i) Government Securities
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
107016
100049
1576221
1266561
319415
565227
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
Securities purchased under

Reverse Repo
(i) Government Securities
(ii)Corporate Debt Securities
15.
Managerial Remuneration is disclosed under Note no.29
18)
16.
Barring disputed cases, no settled insurance claim

remained unpaid for more than six months as on the
Balance Sheet date.
Sundry Creditors include an amount of ` 1614673

thousands ( ` 1415091 thousands) being cheques issued
from zero balance payment accounts.
19)
Indian Motor Third Party Declined Risk Insurance Pool

(Declined Risk Pool)
17.
Fixed Assets include :-
a) The IRDAI vide its Circular No. IRDA/NL/ORD/

MPL/277/12/2011 dated 23.12.2011 has announced the
formation of Declined Risk pool for Commercial Vehicles
falling under Class A, B, & C for standalone Third Party
liability insurance (Act only insurance) with effect from
01.04.2012. The Act only insurance of commercial
vehicles which are declined as per the norms of IRDAI and
underwriting policy of the respective company are covered
under the pool.
a) Land - Freehold includes land acquired from IFCI

Infrastructure Development Ltd at Bangalore Financial
City, amounting to ` 39761 thousands on sub - lease cum - sale agreement, which will be registered in the
name of the company after completion of construction of
office complex within the time limit specified therein.
b) Buildings valued at ` 50537 thousands (` 50537
thousands) which are pending for Conveyance and
Registration. This includes a property under dispute
amounting to ` 920 thousands (` 920 thousands).
b) The business transacted by the Company on account of

Declined Risk Pool is as follows:
201

NOTES TO ACCOUNTS
(ii) Corporate Debt Securities
(` 000)
r{_`_
{ddaU
31.03.2016
_moQ>a AdrH$V Omo{I_ nyb Ho$ AVJV `j gH$b

A{Zdm` AnU 5%
AdrH$V Omo{I_ nyb AnU 75%

NOTES TO ACCOUNTS
* CnJV
Xmdo r{_`_ Ho$ 184% na n[aH${bV {H$`m J`m h &

{g) df Ho$ XmamZ df 2014-15 H$s ^mdr go _moQ>a
AdrH$V Omo{I_m| Ho$ VhV CnJV bo{H$Z gy{MV Zht
H$m {VV 175 go 184 gemo{YV {H$`m J`m h &
B) 31-12-2015 VH$ AdrH$V Oo{I_ nyb go m A{V
ZH$X {ZnQ>mZ (ew) `156516 hOma (`260161
hOma) h& AmB.Ama. S>r. E. {Z`_m| Ho$ AZwgma `h H$nZr
Ho$ {Z`{_V {Zdoe Ho$ gmW {Zdo{eV h &
B) df 2015-16 H$s MmWr {Vmhr Ho$ {bE {ddaU m
Zht hE h Ama Bg{bE ImVm| na ^md H$m nVm Zht
bJm`m Om gH$m h&
20. 2015-16 _| gmYmaU ~r_m {ZJ_ (nyb ~YH$) go m
AmVH$dmX nyb aoQ>mo H$s AmH$S>m| _| Mmby df H$s 3 {V_mhro H$s
AmH$S>| gp_{bV h &
21. 01-04-2002 H$s ^mdr VmarI go hmJH$mJ _| H$nZr H$m
A{^H$aU Zo ~r_mboIZ MmbZ ~X H$a {X`m Ama A{V_ MmbZ
H$m n[aH$bZ {H$`m J`m& CnJV bo{H$Z Agy{MV Xmdo Ed CnJV
~pH$ n`m $n go Agy{MV Xmdm| H$s b{~V ApV_ [anmoQ> Ho$
n[aUm_d$n JV dfm] Ho$ AmH$S>m| Ho$ AmYma na ey` `dWm H$mo
dV_mZ Xam| na JUZm {H$`m J`m h& df 2015-16 | Andm{hV
gMmbZ Ho$ {bò H$nZr Zo ` 2910 hOma H$s am{e IM H$s Ed
31.03.2016 H$mo ` 23570 hOma Ho$ VrZ Xmdo ~H$m`m h &
22. H$nZr Ho$ AVa H$m`mb`rZ ImVo Ho$ g_mYmZ H$m H$m` Mmby h Ama
H$nZr H r am` _| CgH$m ^md VmpdH$ Zht hmoJm&
23 A) ~r_m H$mamo~ma H$aZodmbo {ZH$m`m| `m A` `pV`m| go
m` / H$mo Xo` eof H$s nwpQ> H$s J`r h Ama {Z`m_Zwgma
^wJVmZ {H$`m J`m h& AV df H$s g_m{ na nwpQ>H$aU
m Zht {H$`m J`m h &
Am) Ohm VH$ nwZ~u_m H$m gdmb h boIm {ddaU Ho$ AmYma
na Xbmbm| / nwZ~u_mH$VmAm| H$mo ^wJVmZ {H$`m OmVm h &
AV df H$s g_m{ na nwpQ>H$aU m Zht {H$`m J`m h &
CnJV Xmdo *
31.03.2015
31.03.2016
31.03.2015
739777
720851
1361190
1261489
36989
36042
68060
63074
554832
540638
1020892
946116
B)
{d{dY XoZXma _| Ho$ / am` gaH$ma go amQ>r`

dm` ~r_m `moOZm H$s m` r{_`_ `1366578
hOma (`1291721 hOma ) ^r gp_{bV h &
(` 000)
31.03.2016
H$mo
31.03.2015 H$mo
1 gmb go H$_
789006
535602
1-3 df
157718
514830
3 dfm] go A{YH$
419854
241289
1366578
1291721
Hw$b
24. A) ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU mam {ZYm[aV bomm
AZwnmV AZwbZH$ -1 _| {X`m J`m h &
Am) ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU mam {ZYm[aV m$n _|

{d^mOZ {ddaU AZwgy{M`m| Ho$ gmW {X`m J`m h &
B) JV nmM dfm] Ho$ {bE {dVr` {ddaU H$m gmame AZwbZH$
_| {X`m J`m h &
25. n|eZ Ama Jo`wQ>r:
~rm {Z`mH$ Ed ^maV H$s {dH$mg m{YH$aU, Zo AnZo n[an /g.AmB
AmaSrE/077/04/2016 {XZmH$ 2016/04/18, df 2015-16
go ew$ nmM gmb H$s Ad{Y | 01.04.2004 go 31.03.2010 Ho$
~rM H$s Ad{Y | H$m`^ma g^mbZo dmbo nr.Eg.`y. Ho$ A{YH$m[a`m|
d H$Mm[a`m| Ho$ {bò n|eZ `moOZm Ho$ 1995 | {H$ò Jò {dVma
Ho$ H$maU Cn A{V[a$ n|eZ Xm{`d Ho$ n[aemoYZ H$s AZw{V
Xr h& VXZwgma H$nZr Zo df Ho$ XmamZ Hw$b XoZXmar Ho$ nmMd| {hgo
H$mo n[aemo{YV {H$`m h& BgHo$ A{V[a$ ^maVr` ~rm {d{Z`mH$
Ed {dH$mg m{YH$aU Zo AnZo n H$mH$ AmB AmaSrE/E &E/
EbAma/001/2016 {XZmH$ 19.04.2016 | doVZ gemoYZ Ho$
H$maU Cn A{V[a$ n|eZ d Jo`yQ>r Ho$ Xm{`d H$mo df 201516 go AmJmr VrZ dfm] | n[aemo{YV H$aZo H$s AZw{V XmZ H$s h
VXZwgma H$nZr Zo df Ho$ XmamZ Hw$b XoZXmar H$m EH$ {VhmB n[aemo{YV
{H$`m h&
202
Premium
Particulars
31.03.2016
Gross Direct under Motor DR Pool
31.03.2015
31.03.2016
31.03.2015
739777
720851
1361190
1261489
Obligatory Cession at 5 %
36989
36042
68060
63074
DR Pool Cession at 75 %
554832
540638
1020892
946116
*Claims incurred have been accounted at 184% of the premium.

c. During the year, the IBNR for motor DR Pool has been
amended from 175% to 184% with effect from 2014-15.
c) Sundry Debtors include a sum of ` 1366578 thousands

(` 1291721 thousands) recoverable from Central/State
Government towards RSBY Premium.
(` 000)
d. The final cash settlement (net) received from the

Declined Risk Pool up to 31.12.2015 amounts to
` 156516 thousands ( ` 260161 thousands). This has
been invested as per IRDAI Regulations along with the
regular investments of the Company.
e. Statement for fourth Quarter of 2015-16 has not been
received and hence impact on accounts cannot be
ascertained.
20. Terrorism Pool retro figures received from GIC (Pool
Administrator) accounted in 2015-16 includes figures for the 3
quarters of the current year.
As on 31.03.2016
As on 31.03.2015
Less than 1 year
789006
535602
1 3 years
157718
514830
More than 3 years
419854
241289
1366578
1291721
Total
24.
21. The Companys Agency at Hong Kong ceased underwriting

operations with effect from 01.04.2002 and the transactions
relating to run off operations have been accounted. Pending
final IBNR/IBNER report, the NIL provision based on the Actuarys
report for the previous year has been considered for current
year. The Company incurred a sum of ` 2910 thousands
towards expenditure for managing the run off operations during
2015-16 and three claims for ` 23570 thousands are
outstanding as on 31.03.2016.
a)
b)
c)
Accounting Ratios as prescribed by IRDAI are enclosed

in Annexure I.
Segmental reporting in the format prescribed by IRDAI is
given along with Schedules.
A summary of financial statements for the last five years is
attached.
Insurance Regulatory and Development Authority of India, vide its

Circular No. IRDA/F&A/CIR/ACT/077/04/2016 dated 18.04.2016,
had allowed amortization of additional Pension liability arising out
of extension of Pension Scheme 1995 to PSU Officers and Staff
Members who joined between 01.04.2004 to 31.03.2010, over a
period of five years commencing from the year 2015-16. Accordingly
the company has amortized one-fifth of the total liability during the
year. In addition to that, Insurance Regulatory and Development
Authority of India, vide its Letter No. IRDA/F&A/LR/001/2016 dated
19.04.2016, had allowed amortization of additional Pension &
Gratuity liability arising on account out of Pay Revision, over a period
of three years commencing from the year 2015-16. Accordingly the
company has amortized one-third of the total liability during the year.
a) Balances Due from / Due to other persons or bodies

carrying on Insurance business, are confirmed and
settled periodically, hence year end confirmation is
not obtained.
b) In respect of Reinsurance, settlements are effected to
brokers /reinsurers based on statement of accounts
hence year end confirmation of balance is not obtained.
203

NOTES TO ACCOUNTS
25. Pension & Gratuity
22. Reconciliation of Inter-Office accounts is in progress and in

the opinion of the Company the effect of the same will not be
material.
23.
(` 000)
Claims incurred *
(` 000)
Jo`yQ>r
{ddaU
CnXmZ
`moOZm Ho$
doVZ gemoYZ Ho$ doVZ gemoYZ Ho$
{dVma Ho$ H$maU
n[aemo{YV am{e n[aemo{YV am{e
n[aemo{YV am{e
Hw$b Xm{`d
df 2015-16 _| n[aemo{YV
31.3.2016 H$mo Ja A{^mkm{nV Ama An[aemo{YV CnXmZ Xm{`d
Hw$b
100000
2670000
285000
3055000
20000
890000
95000
1005000
80000
1780000
190000
2050000
df 2015-16 _| n[aemo{YV 31.3.2016 H$mo Ja A{^mkm{nV Ama An[aemo{YV CnXmZ Xm{`d nyU am{e nò ` 3055000 hOma H$mo gmb 201516 | n[aH${bV {H$`m J`m h, 31.03.2016 H$mo gm df Ho$ {bE H$nZr H$m bm^ ` 205000 hOma go H$ hmo J`m &

NOTES TO ACCOUNTS
26. H$_Mm[a`m| H$mo godm{ZdpV bm^
Jo`wQ>r \$S> Q>Q> (X Q>Q>) H$mo AeXmZ H$aVo h VWm

AeXmZm| H$mo H$mZyZ mam `Wm AZw_{V AZwgma {d{eQ> {Zdoem|
_| {Zdo{eV {H$`m OmVm h&
(iii) (A) A{Ydm{fVm / n|eZ
H$nZr Zo nm H$_Mm[a`m| H$mo Amd[aV H$aVo hE _m{gH$ n|eZ
Ho$ $n _| EH$ {Z`V bm^ godm{ZdpV `moOZm (n|eZ `moOZm)
H$m mdYmZ {H$`m h & n|eZ `moOZm, H$_Mm[a`m| H$mo CZH$s
godm{ZdpV Ho$ ~mX _`w VH$ EH$ _m{gH$ n|eZ XoVr h &
_m{gH$ n|eZ g~{YV H$_Mm[a`m| Ho$ doVZ VWm godm`moOZ H$s
Ad{Y na AmYm[aV hmoVr h & nmVm Xg df H$s godmnyU hmoZo
na ma^ hmoVr h & H$nZr ^maVr` OrdZ ~r_m {ZJ_ H$s
dm{fH$s H$m H$` H$aHo$ _m{gH$ n|eZ H$m ^wJVmZ H$aVr h &
n|eZ `moOZm go g~{YV Xo`Vm`| VwbZ n Ho$ AZwgma
~r_mH$H$s` _y`mH$Z mam {ZYm[aV H$s OmVr h {OgHo$ AmYma
na H$nZr g^r A{^{ZpMV Xo`VmAm| Ho$ {bE `wZmBQ>oS> B{S>`m
B`yaog H$nZr n|eZ {Z{Y Q>Q> (X Q>Q>) H$mo AeXmZ H$aVr
h & Q>Q>r Q>Q> H$mo {Xò Jò AeXmZ H$mo em{gV H$aVo h Ama
AeXmZm| H$mo H$mZyZ mam `Wm AZw_{V AZwgma {deof {Zdoem|
_| {Zdo{eV {H$`m OmVm h&
(iii) (Am) Z`r A{Ydm{fVm / n|eZ
Z`r n|eZ `moOZm EH$ {ZpMV `moOZm h Omo{H$ 01 Ab,
2010 `m CgHo$ ~mX H$nZr _| H$m` JhU H$aZodmbo H$_Mm[a`m|
na bmJy h & H$nZr EH$ nyd {ZYm[aV Xa na {Z`V AeXmZ
H$m ^wJVmZ H$aVr h Ama H$nZr H$s Xo`Vm Bgr {Z`V AeXmZ
VH$ gr{_V hmoVr h &
(i) ^{d` {Z{Y

nm H$_Mmar ({Ohm|Zo n|eZ `moOZm H$m {dH$n Zht MwZm h)
^{d` {Z{Y go bm^ m H$aVo h Omo{H$ EH$ {ZpMV AeXmZ
`moOZm h & H$_Mmar H$s godm{ZdpV, _`w `m godm`moOZm go
~ImVJr na gH$b AeXmZ H$m `mO g{hV ^wJVmZ {H$`m
OmVm h & H$_Mmar VWm H$nZr XmoZm| hr `wZmBQ>oS> B{S>`m
H$_Mmar ^{d` {Z{Y Q>Q> _| Amd[aV H$_Mmar Ho$ doVZ Ho$
EH$ {Z`V {VeV Ho$ ~am~a am{e H$m _m{gH$ AeXmZ H$aVo
h & Q>Q> Ho$ {Zdoem| go m Am` VWm Q>Q> mam A{Ygy{MV
`mO Ho$ ~rM `{X H$moB {JamdQ> hmoVr hmo, Vmo H$nZr CgH$s
j{Vny{V Ho$ {bE Xm`r h &
H$nZr Zo amOd boIm VWm bm^ d hm{Z boIm _| ^{d` {Z{Y
AeXmZ Ho$ {bE `165269 hOma ( ` 115344 hOa) H$s
am{e AZw_mo{XV H$s h &
(ii) CnXmZ
H$nZr mam nm H$_Mm[a`m| H$mo Amd[aV H$aVo hE Jo`wQ>r Ho$
{bE EH$ {ZpMV bm^ godm{ZdpV `moOZm (Jo`wQ>r `moOZm)
H$m mdYmZ {H$`m J`m h & Jo`wQ>r `moOZm nm H$_Mm[a`m| H$mo
CZH$s godm{ZdpV, _`w, godm`moOZ _| Aj_Vm `m Cggo
~ImVJr na g~{YV H$_Mm[a`m| Ho$ doVZ VWm godm`moOZ H$s
Ad{Y na AmYm[aV EH$_wV YZam{e H$m ^wJVmZ H$aVr h &
nmVm nmM df H$s godm nyU hmoZo na ma^ hmoVr h & Jo`wQ>r
`moOZm go g~{YV Xo`Vm`| VwbZn Ho$ AZwgma ~r_mH$H$s`
_y`mH$Z mam {ZYm[aV H$s OmVr h {OgHo$ AmYma na H$nZr
g^r A{^{ZpMV Xo`VmAm| Ho$ {bE `wZmBQ>oS> B{S>`m B`yaog
204
Pension
Particulars
Amount to be
Amortized for
Extension of
Scheme
Total liability
Gratuity
Amount to be
Amortized for
Pay revision
Amount to be
Amortized for
Pay revision
Total
100000
2670000
285000
3055000
Amortized in year 2015-16
20000
890000
95000
1005000
Unrecognized and unamortized gratuity liability as on 31.03.2016
80000
1780000
190000
2050000
(` 000)
Note: Had the entire amount of ` 3055000 thousands been charged in the year 2015-16, the profit of the Company for the year ended
31st March 2016 would have been lower by ` 2050000 thousands.
26. Retirement benefits to employees
completion of five years of service. Liabilities with regard to

the Gratuity Plan are determined by actuarial valuation as of the
balance sheet date, based upon which, the company
contributes all the ascertained liabilities to the United India
Insurance Employees Gratuity Fund Trust (the Trust). Trustees
administer contributions made to the Trust and contributions
are invested in specific investments as permitted by law.
(i) Provident fund

Eligible employees (employees not opted for pension plan)
receive benefits from the provident fund, which is a defined
contribution plan. Aggregate contributions along with interest
thereon are paid at retirement, death, incapacitation or
termination of employment. Both the employee and the
Company make monthly contributions to the United India
Insurance Employees Provident Fund Trust equal to a specified
percentage of the covered employees salary. The Company has
an obligation to make good the shortfall, if any, between the
return from the investments of the trust and the interest rate
notified by the trust.
The Company provides for monthly pension, a defined benefit

retirement plan (the pension Plan) covering eligible
employees. The pension Plan provides a monthly pension after
retirement of the employees till death. The Monthly pension
is based on the respective employees salary and the tenure
of employment. Vesting occurs upon completion of ten years
of service. The company pays the monthly pension by
purchasing the annuity from Life insurance Corporation of
India. Liabilities with regard to the pension Plan are determined
by actuarial valuation as of the balance sheet date, based
upon which, the company contributes all the ascertained
liabilities to the United India Insurance Employees Pension
Fund Trust (the Trust). Trustees administer contributions made
to the Trust and contributions are invested in specific
investments as permitted by law.
The Company recognized `165269 thousands (` 115344

thousands) for provident fund contribution in the Revenue
Accounts and Profit and Loss account.
(ii) Gratuity
The Company provides for gratuity, a defined benefit retirement
plan (the Gratuity Plan) covering eligible employees. The
Gratuity Plan provides a lump sum payment to vested employees
at retirement, death, incapacitation or termination of
employment, of an amount based on the respective employees
salary and the tenure of employment. Vesting occurs upon
(b) New Superannuation/ New Pension

New pension scheme which is applicable to employees who
205

NOTES TO ACCOUNTS
(iii) (a) Superannuation/ Pension
H$nZr Zo n|eZ amOd boIm VWm bm^ d hm{Z boIm _| n|eZ

AeXmZ Ho$ {bE `.95507 hOma (`. 62834 hOma) H$s am{e
H$m AZw_moXZ {H$`m h &
(iv) Nw>Q>Q>r ZH$XrH$aU
na g{MV hB hmoJr &

(v)
H$nZr Ho$ H$_Mmar Nw>Q>Q>r ZH$XrH$aU Ho$ nm h & H$_Mmar

Cn`wV g{MV Nw>Q>Q>r ZH$XrH$aU Ho$ {hgo H$mo AJmZrV H$a
gH$Vo h Ama `m Vmo AmJo H$s Ad{Y _| BgH$m Cn`moJ H$aVo h `m
A`wV g{MV Nw>Q>Q>r ZH$XrH$aU Ho$ {bE A{YH$V_ 240 {XZm|
Ho$ {bE godm{ZdpV `m godm go ~ImVJr na ZH$X j{Vny{V bo
gH$Vo h & H$nZr, {Og Ad{Y _| H$_Mmar H$mo AnZr godm`| XoVm
h Ama {Oggo nmVm ~T>Vr h, Cg Ad{Y _| Nw>Q>Q>r ZH$XrH$aU
Ho$ {V Xm`r h & H$nZr A{V[aV am{e Ho$ $n _| Nw>Q>Q>r
ZH$XrH$aU H$s AZw_m{ZV bmJV H$s JUZm H$aVr h {Ogo Cgo
Cg A`wV nmVm Ho$ n[aUm_d$n ^wJVmZ H$aZm Ano{jV
hmoJm Omo{H$ VwbZ n {V{W na ~r_mH$H$s` _y`mH$Z Ho$ AmYma
(vi)
{M{H$gm AdH$me :
H$nZr Zo ~rmH$H$ y`mH$Z Ho$ AmYma na H$Mm[a`m| Ho$
{M{H$gm AdH$me Ho$ {bò ` 30000 hOma VH$ H$s am{e
H$s Xo`Vm H$m mdYmZ {H$`m h &
(godmaV Ama godm{ZdV) H$_Mm[a`m| Ho$ {bE g_yh {M{H$gm
bm^ `moOZm
{OZ H$_Mm[a`m| Zo Bg `moOZm H$m {dH$n MwZm h, CZ
godm{ZdV H$_Mm[a`m| Ho$ {M{H$gm ~r_m hoVw H$nZr
`moOZmZwgma AeXmZ H$aVr h & H$nZr Zo (godmaV Ama
godm{ZdV) H$_Mm[a`m| Ho$ {bE g_yh {M{H$gm bm^ `moOZm
H$s Xo`Vm Ho$ $n _| ~r_mH$H$s` _y`mH$Z Ho$ AmYma na
`.35000 H$s am{e H$m mdYmZ {H$`m h &
{ZZ{b{IV Vm{bH$m _| 31 _mM,2016 Ho$ AZwgma H$nZr Ho$ {dVr` {ddaUm| _| Jo`wQ>r / n|eZ `moOZm H$s {Z{YV pW{V H$m {ddaU h H$. df Ho$ ma^ Ama AV _| {Z`V bm^-Xm{`dm| Ho$ eof H$m g_mYmZ
(` 000)
n|eZ ({Z{Y~ )
{ddaU
2015-16

NOTES TO ACCOUNTS
df Ho$ ma^ _| {Z`V bm^ Xm{`d H$m _y`

dV_mZ godm-``
`mO _y`
Xm{`dm| na ~r_mH$Z hm{Z/(bm^)
AXm H$s J`r gw{dYm
df Ho$ AV _| {Z`V bm^ Xm{`d H$m _y`
CnXmZ ({Z{Y~ )
2014-15
2015-16
2014-15
24200000
20970000
6910000
6750000
798100
659600
55200
93900
2057000
1782450
587400
573750
3139128
3711345
358173
119761
(3244228)
(2923395)
(889773)
(627411)
26950000
24200000
7021000
6910000
I. `moOZm AmpV`m| Ho$ C{MV _y` df Ho$ ma^ _| Ama AV _| H$m g_mYmZ
(` 000)
n|eZ ({Z{Y~ )
{ddaU
2015-16
df Ho$ ma^ _| `moOZm AmpV`m| Ho$ C{MV _y`

`moOZm AmpV`m| go AZw_m{ZV bm^
A` H$n{Z`m| go m
{Z`moOH$ H$m AeXmZ
AXm H$s J`r gw{dYm
206
CnXmZ ({Z{Y~ )
2014-15
2015-16
2014-15
20828163
17415492
6408023
5876407
1880948
1934816
599944
566551
337
396
4706391
4401250
501977
592080
(3244228)
(2923395)
(889773)
(627411)
24171275
20828163
6620508
6408023
(v) Sick Leave
The Company recognized ` 95507 thousands ( ` 62834

thousands) for pension contribution in the Revenue Accounts
and Profit and Loss account.
The company has provided for ` 30000 thousands as liability

towards Sick Leave entitlement for employees based on actuarial
valuation.
(iv) Leave encashment
(vi) Group Medical Benefit

(Serving and retired)
The employees of the Company are entitled to Leave Encashment.

The employees can carry forward a portion of the unutilized
accrued Leave Encashment and utilize it in future periods
or receive cash compensation at retirement or termination of
employment for the unutilized accrued Leave Encashment for
a maximum of 240 days. The company records an obligation for
Leave Encashment in the period in which the employee renders
the services that increase this entitlement. The Company
Scheme
for
measures the expected cost of Leave Encashment as the

additional amount that the company expects to pay as a result of
the unused entitlement that has accumulated at the balance
sheet date based on actuarial valuation.
joined the company on or after 1st April 2010 is a defined

contribution scheme. The company pays fixed contribution at
predetermined rate and the obligation of the company is limited
to such fixed contribution.
Employees
The company contributes to medical insurance of the retired

employees as per scheme for employees opted for the scheme.
The Company has provided for ` 35000 thousands as liability
towards Group Medical Benefit Scheme for employees (Serving
and Retired) based on actuarial valuation.
The following table sets out the funded status of gratuity/pension plan and the amounts recognized in the companys financial statements as at
March 31, 2016:
A. Reconciliation of opening and closing balances of Defined Benefit obligation:

(` 000)
Pension Fund
2015-16
Defined benefit obligation at the beginning of the year
Gratuity Fund
2014-15
2015-16
2014-15
24200000
20970000
6910000
6750000
798100
659600
55200
93900
Interest cost
2057000
1782450
587400
573750
Actuarial (gain)/loss
3139128
3711345
358173
119761
Benefits paid
(3244228)
(2923395)
(889773)
(627411)
Defined benefit obligation at the end of the year
26950000
24200000
7021000
6910000
Current service cost
B. Reconciliation of opening and closing balances of fair value of plan assets:

(` 000)
Pension Fund
Particulars
2015-16
Fair value of plan assets at the beginning of the year
Gratuity Fund
2014-15
2015-16
2014-15
20828163
17415492
6408023
5876407
1880948
1934816
599944
566551
Actuarial gain/(loss)
Received from other companies
337
396
4706391
4401250
501977
592080
Benefits paid
(3244228)
(2923395)
(889773)
(627411)
Fair value of plan assets at the end of the year
24171275
20828163
6620508
6408023
Expected return on plan assets
Employer contribution
207

NOTES TO ACCOUNTS
Particulars
J. `moOZm AmpV`m| Ho$ C{MV _y` H$m g_mYmZ
(` 000)
n|eZ ({Z{Y~ )
{ddaU
2015-16
df Ho$ AV _| `moOZm AmpV`m| H$m ~mOma

_y`
df Ho$ AV _| Xm{`dm| H$m dV_mZ _y`
VwbZ nV _| A{^km{nV A{Z{Y~ Xo`Vm
/ (n[agn{V)
CnXmZ ({Z{Y~ )
2014-15
2015-16
2014-15
24171275
20828163
6620508
6408023
26950000
24200000
7021000
6910000
2778725
3371837
400492
501977
K. bm^ Ama hm{Z ImVo _| A{^km{nV ``
(` 000)
n|eZ ({Z{Y~ )
{ddaU
2015-16
dV_mZ godm-``
`mO ``
ew ~r_mH$Z ( bm^ )/ hm{Z
bm^ Ama hm{Z ImVo _| A{^km{nV Hw$b
``
`moOZm AmpV`m| go dmV{dH$ bm^
CnXmZ ({Z{Y~ )
2014-15
2015-16
2014-15
798100
659600
55200
93900
2057000
1782450
587400
573750
(1880948)
(1934816)
(599944)
(566551)
3139128
3711345
358173
119761
4113280
4218579
400829
220860
1880948
1934816
599944
566551
S. Q>Q> mam gnmo{fV {Zdoe {VeVVm

n|eZ ({Z{Y~ )
{ddaU

NOTES TO ACCOUNTS
(% _|)
2015-16
Ho$ gaH$ma Ama am` gaH$ma H$s

{V^y{V`m
A` G$U {V^y{V`m
~H$ Ho$ gmW eom
^maVr` OrdZ ~r_m {ZJ_ Ho$ gmW eom
CnXmZ ({Z{Y~ )
2014-15
2015-16
2014-15
58.93
68.84
39.44
26.09
28.57
25.36
30.09
34.10
0.85
0.07
0.12
0.07
11.65
5.74
30.34
39.74
M. VwbZn H$s {V{W na _yb ~r_mH$Z nydmZw_mZ (^m[aV AmgV Ho$ $n _| A{^`V)
{ddaU
Ny>Q> Xa
`moOZm AmpV`m| na bm^ H$s AZw_m{ZV Xa
doVZ _| d{ H$s Xa
H$_Mmar Am` ``
_`Vm
`moJ H$s JB n{V
n|eZ ({Z{Y~ )
CnXmZ ({Z{Y~ )
(% _|)
NQQr ZH$XH$aU
A{Z{Y~
8.5
8.5
8.5
8.5
8.5
8.5
3.5
3.5
3.5
Ja _hdnyU
OrdZ ~r_m {ZJ_ (1994-96) _`Vm Xam| H$s Vm{bH$m
moOoQoS `y[ZQ Ho[SQ n{V
208
(` 000)
Pension Fund
Particulars
2015-16
Gratuity Fund
2014-15
2015-16
2014-15
Fair value of plan assets as at the end of

the year
24171275
20828163
6620508
6408023
Present value of obligations as at the end

of the year
26950000
24200000
7021000
6910000
2778725
3371837
400492
501977
Unfunded liability/ (asset) recognized in

the Balance Sheet
C. Reconciliation of fair value of assets and obligations:
D. Expense recognized in the Profit and Loss account:

(` 000)
Pension Fund
2015-16
Gratuity Fund
2014-15
2015-16
2014-15
798100
659600
55200
93900
2057000
1782450
587400
573750
(1880948)
(1934816)
(599944)
(566551)
Net Actuarial (gain)/loss
3139128
3711345
358173
119761
Total expenses recognized in the Profit

and Loss account
4113280
4218579
400829
220860
Actual return on plan assets
1880948
1934816
599944
566551
Interest cost
E. Investment percentage maintained by the trust
(In %)
Pension (Funded)
Particulars
Gratuity (Funded)
2015-16
2014-15
2015-16
2014-15
Central Government & State Government

securities
58.93
68.84
39.44
26.09
Other Debt Securities
28.57
25.36
30.09
34.10
0.85
0.07
0.12
0.07
11.65
5.74
30.34
39.74
Balance with bank

Balance with Life Insurance Corporation
of India
F.Principal Actuarial assumption at the Balance sheet date (expressed as weighted average)
Pension
(Funded)
Particulars
(In %)
Leave Encashment
(Unfunded)
Gratuity
(Funded)
Discount rate
8.5
8.5
8.5
Expected rate of return on plan assets
8.5
8.5
8.5
Rate of escalation in salary
3.5
3.5
3.5
Employee turnover
Not significant
Mortality
LIC (1994-96) Table of Mortality Rates
Method used
Projected Unit Credit Method

209

NOTES TO ACCOUNTS
Particulars
N. JUZm _| {bò Jò ~r_mH$Z nydmZw_mZ H$m AmYma

{ddaU
nydmZw_mZ H$m AmYma
`moOZm AmpV`m| na bm^ H$s AZw_m{ZV Xa EH$ dm H$s `mO Xa
~r_mH$Z _y` {ZYmaU _| ^{d` H$s doVZ d{ H$m AZw_mZ _hJmB, d[aR>Vm, nXmo{V VWm A`
doVZ _| d{ H$s Xa
mg{JH$ H$maH$m| Ogo {Z`moVm ~mOma _| ny{V Ama _mJ H$mo JUZm _| boH$a {H$`m J`m h &
O (1) dV_mZ Ama JV Mma dfm| _| A{^km{nV am{e
(` 000)
{ddaU n|eZ
31 mM 2012
15960000
{Z`V bm^ Xm{`d H$m _y`
14936245
`moOZm AmpV`m|
534755
A{Yeof /( H$_r)
941026
`moOZm Xm{`dm| na ~r_mH$Z (bm^)/ hm{Z
`moOZm n[agnpV`m| na ~r_mH$Z (bm^)/
(406271)
hm{Z
O (2) dV_mZ Ama JV Mma dfm| _| A{^km{nV am{e
{ddaU CnXmZ
`moOZm AmpV`m|
A{Yeof /( H$_r)
`moOZm n[agnpV`m| na ~r_mH$Z (bm^)/ hm{Z
31 mM 2012
31 mM 2013
g_m dm
31 mM 2014
31 mM 2015
31 mM 2016
18400000
20970000
24200000
26950000
15017400
20970000
24200000
24171275
(3226000)
2025600
3384623
360403
3100454
2063700
3405045
3139128
(125546)
38100
20422
0
(` 000)
31 mM 2013
g_m dm
31 mM 2014
31 mM 2015
31 mM 2016
5940000
6400000
6750000
6910000
7021000
5490439
5919200
6750000
6910000
6620508
293511
(345800)
198500
269023
(42319)
229265
298457
190000
119761
358173
64246
(47343)
(8500)
(149262)

NOTES TO ACCOUNTS
27. H$_Mm[a`m| H$mo AnH$mbrZ gw{dYm

H$_Mmar mam XmZ H$s J`r godm H$s g_m{ Ho$ nMmV 12 _mh Ho$ AXa AnH$mbrZ H$_Mmar gw{dYm Ogo Eb Q>r Eg, {M{H$gm gw{dYm Am{X Omo
nyUV Xo` h, CgHo$ {bò AZw_mZ Ho$ AmYma na {Z{Y H$s `dWm H$s J`r h &
(` 000)
28. CnJV {H$ò Jò {ZZ{b{IV `` {d{Z`m_H$ H$s AnojmAm| Ho$ AZwgma h:
{ddaU
31.03.2016
AmCQ>gmo{gJ ``
`dgm` {dH$mg Ho$ _X _o
{dnUZ CWmZ Ho$ _X _o
29. g~{YV nj H$m H$Q>rH$aU E Eg 18
A) g~{YV nj H$m Zm_ Ama H$nZr Ho$ gmW CZH$m g~Y
(i) {Z`{V H$nZr
_ogg Oo{ZW go`y[aQ>rO ES> BdoQ>_oQ>g {b{_Q>oS>
(ii) g~ H$nZr
_ogg B{S>`m BQ>aZoeZb B`ya|g mBdoQ> {b., qgJmnwa
_ogg Ho$Z B{S>`m E`ya|g H$nZr {b{_Q>oS, Ho$`m
210
31.03.2015
2398312
1877574
1146380
1321252
ey`
ey`
G. Basis of Actuarial assumption considered

Particulars
Basis of assumption
One year Interest rate
The estimate of future salary increase, considered in actuarial valuation takes into account
inflation, seniority, promotion and other relevant factors, such as supply and demand in
employment market
H (1) Amount recognized in current year and previous four years:
(` 000)
Year Ended
Particulars (Pension)
31-Mar-2012
31-Mar-2013
31-Mar-2014
31-Mar-2015
31-Mar-2016
Defined Benefit Obligation
15960000
18400000
20970000
24200000
26950000
Plan Assets
14936245
15017400
20970000
24200000
24171275
Surplus/ (Deficit)
534755
(3226000)
2025600
3384623
360403
Actuarial (gain)/loss on plan obligation
941026
3100454
2063700
3405045
3139128
(406271)
(125546)
38100
20422
Actuarial (gain)/loss on plan assets
H (2) Amount recognized in current year and previous four years:
(` 000)
Year Ended
Particulars (Gratuity)
31-Mar-2012
31-Mar-2013
31-Mar-2014
31-Mar-2015
31-Mar-2016
5940000
6400000
6750000
6910000
7021000
Plan Assets
5490439
5919200
6750000
6910000
6620508
Surplus/ (Deficit)
293511
(345800)
198500
269023
(42319)
229265
298457
190000
119761
358173
64246
(47343)
(8500)
(149262)
Short term employee benefits, which fall due wholly within twelve months after the end of the period in which the employees render the
related service, such as Leave Travel Subsidy (LTS), Medical Benefits, etc., are provided on the basis of estimates.
28. The expenses incurred under the following heads are disclosed as per Regulatory requirement:
PARTICULARS
31.03.2016
(` 000)
31.03.2015
Outsourcing Expenses
2398312
1877574
Business Development
1146380
1321252
Nil
Nil
Marketing Support
29. Related party disclosures: AS 18

a. Name of the related party and their relationship with the company:
i). Subsidiary
M/s. Zenith Securities and Investments Limited
ii). Associates
M/s. India International Insurance Pte Ltd., Singapore
M/s. Ken India Assurance Co Ltd., Kenya
211

NOTES TO ACCOUNTS
27. Short Term Benefits to employees

NOTES TO ACCOUNTS
_ogg hoW B`ya|g Q>r.nr.E. Am$ B{S>`m {b. , B{S>`m

(iii)
w ~YZ H$mnmbH$
lr. {{bX IamV, Aj-gh-~Y {ZXoeH$
lrVr. Amem Zma, {ZXoeH$ d hm ~YH$ (30.09.2015 VH$)
lr E.dr.{J[aOm Hw$ma, {ZXoeH$ d hm ~YH$ (20.07.2015 go)
lr E.dr.dr.Mb, {ZXoeH$ d hm ~YH$ (27.01.2016 go 29.02.2016 VH$ )
(` 000)
Am.
H$m {ddaU
ogg B{S>m
H$
ogg Ho$Z B{S>m hoW B`ya|g Q>r.nr.E.
w ~YZ
{ddaU
BQ>aZoZb Byaog
g.
Ayaog H$.{b.
H$mnmbH$
Am$ B{S>`m {b.
m.{b.
1 df Ho$ XmamZ H$m {ddaU
df Ho$ XmamZ m bm^me
31.03.2016
35175
A.
ey`
ey`
ey`
31.03.2015
35680
3169
ey`
ey`
nwZ~um boZXoZ
H$mo ~H$mm - j
31.03.2016
8217
ey`
ey`
ey`
31.03.2015
2080
ey`
ey`
ey`
Am.
go ~H$mm -j
31.03.2016
ey`
ey`
ey`
ey`
31.03.2015
ey`
ey`
ey`
ey`
{ZXoeH$m| H$m nm[al{H$ - m
31.03.2016
162
B.
ey`
ey`
ey`
31.03.2015
153
ey`
ey`
ey`
doVZ. ^Vm Ama AeXmZ
31.03.2016
4910
B.
ey`
ey`
ey`
4736
31.03.2015
ey`
ey`
ey`
31.3.2016 H$mo eof
XV G$U
2.
31.03.2016
ey`
ey`
ey`
ey`
31.03.2015
ey`
ey`
ey`
ey`
H$nZr Ama CZH$s {Z`{V H$nZr am` gaH$ma Ho$ {ZÙmYrZ hmoZo go boIm _mZH$ E Eg -18 H$s AnojmAm| Ho$ AZwgma _| H$m` {ddaU go g~{YV
H$Q>Z Zht {H$`m J`m &
30. boIm _mZH$ E Eg 20 Ho AZwgma {V eoà H$m Am` H$m H$Q>Z
(` 000)
H$
g.
31.03.2016
{ddaU
1.
31.03.2015
2205926
3005654
eoàYmaH$m| Ho$ {bE CnbY ew bm^ (nò hOmam| _|)
150000000
150000000
.2. ^m[aV AmgV na Omar gm`me moàm| H$s g`m
14.71
20.03
3. òH$ 10 Ho$ {V eoà go Am` (`)
H$nZr Ho$ nmg H$moB ~H$m`m _X g^m` gm`me eoà Zht h & BgHo$ n[aUm_d$n H$nZr Ho$ _yb Ama {V moà go m` Am` _| H$moB n[adVZ
Zht h &
212
(` 000)
b. Details of Transactions
S. No
M/s. India
International
Insurance Pte Ltd.
Particulars
M/s. Health
Insurance TPA of
India Ltd.
M/s. Ken India

Assurance Co Ltd.
M/s. Health Insurance TPA of India Ltd., India

iii). Key Management Personnel
Sri Milind Kharat, Chairman cum Managing Director
Smt. Asha Nair, Director & General Manager (Till 30-09-2015)
Sri. A V Girija Kumar, Director & General Manager (From 20-07-2015)
Sri. M V V Chalam, Director & General Manager (From 27-01-2016 to 29-02-2016)
Key Managerial
Personnel
1 Transactions during the year

Dividend received during the year
a.
31.03.2016
35175
NIL
NIL
NIL
31.03.2015
35680
3169
Nil
Nil
31.03.2016
8217
Nil
Nil
Nil
31.03.2015
2080
Nil
Nil
Nil
31.03.2016
Nil
Nil
Nil
Nil
31.03.2015
Nil
Nil
Nil
Nil
31.03.2016
Nil
162
Nil
Nil
31.03.2015
Nil
153
Nil
Nil
31.03.2016
Nil
Nil
Nil
4910
31.03.2015
Nil
Nil
Nil
4736
31.03.2016
Nil
Nil
Nil
Nil
31.03.2015
Nil
Nil
Nil
Nil
Reinsurance transactions:
- Due to Direct
b.
- Due from Direct
Director's Remuneration Received

c.
d.
2.
Balances as on 31.03.2016
Loans given
Since the Company and its Subsidiary are State controlled, no disclosures are made pertaining to the transactions with other State controlled
undertakings in accordance with the requirements of the Accounting Standard AS-18.
30. Disclosures as per AS 20 Earnings per Share

Sl.
No.
Particulars
31.03.2016
1. Net Profit attributable to shareholders (` in thousands)

.2. Weighted Average Number of Equity Shares issued (in Nos.)
3. Basic earnings per share of `10/- each (`)
31.03.2015
2205926
3005654
150000000
150000000
14.71
20.03
The Company does not have any outstanding dilutive potential equity shares. Consequently, the basic and diluted earnings per share of the
Company remain the same.
213

NOTES TO ACCOUNTS
Salaries, Allowances and Contributions
31.
H$nZr Ho$ {ZaV `mo` MmbZ nQ>Q>o Ho$ AYrZ H$B dm{U`
n[aga VWm Amdmgr` bQ> {b`m h & ò nQ>Q>o H$ama gm_m`V
g_m{ na ZdrH$aU {H$`m OmEJm & nQ>Q>o H$s eV] `pVJV
H$ama na AmYm[aV h & MmbZ nQ>Q>o Ho$ g~Y _| {H$am`m nQ>Q>o
IM `.784728 hOma (` 847247 hOma) amOd ImVo _|
^m[aV h &
32.
^{d | nm H$a mo Am H$s C{MV {ZMVVm Ho$ A^md |

31.3.2016 H$mo W{JV H$a n[agn{Vm A{^km{nV Zht h &
~YZ H$s am` _| H$nZr H$s n[agnpV`m| _| H moB _y`mg Zht
h Omo boIm _mZH$ 28 Ho$ AZwgma gmm`moOZm H$s Anojm h &
33.
34. {nN>br Ad{Y Ho$ _Xm| H$mo g~{YV erfm] Ho$ VhV gpm{bV {H$`m J`m h Ama {ddaU {ZZmZwgma h :
(`000)
31.03.2016
{ddaU
nyd Ad{Y Am`
nyd Ad{Y ``
31.03.2015
119208
11684
125493
76914
35. ~YZ Xmam _m[UVmZwgma modma gHb r[_`_ Hm [ddaU
H$_
g.
(` 000)
31.03.2016
{ddaU
_y`
31.03.2015
%
_y`
1. Jm_rU jo (Omar nm{b{g`m| H$s g`m- (8277502)
16121821
13.16
15048036
14.07
2. gm_m{OH$ jo (Amd[aV `pV`m| H$s g`m - (64194131)
8841432
7.22
8532031
7.98
97540378
79.62
83337265
77.95
122503631
100.00
106917332
100.00
3. A` jo
Hw$b H$mamo~ma
36. [VYmaU Ama nwZ~s[_V Omo[I_ Hs gs_m Hm [ddaU
H$_
g.
(% _|)
31.03.2016
{ddaU
1.

NOTES TO ACCOUNTS
{VYmaU Omo{I_ (%)

2. nwZ~u{_V Omo{I_ (%)
31.03.2015
87.46
87.23
12.54
12.77
37. mdYmZ Hm [ddaU
{ddaU
(` 000)
AdH$me ZH$XrH$aU Ho$ {bò mdYmZ

31.03.2016
31.03.2015
emo` Ama g{XY G$U Ho {bò mdYmZ

31.03.2016
31.03.2015
2220000
2070000
1962526
1815039
df Ho$ ma^ _| eof
260000
150000
210627
184408
OmoS>
0
0
0
0
Cn`wV
0
0
35572
36921
{ZamH$aU
2480000
2220000
2137582
1962526
df Ho$ AV _| eof
38 r{_`_ H$s H$_r :
gH$b `j Ja A{OV r{_`_ H$m n[aH$bZ 1/12 Ho$ AmYma na {H$`m J`m h Ama Cgo ew A{OV r{_`_ H$s JUZm Ho$ {bE ew r{_`_ na {b`m
J`m h & ew r{_`_ H$s VwbZm ew CnJV ( Xmdo go g~pYV `` g{hV ) Ho$ gmW H$s JB h Ama Ohm ew CnJV Xmdo 100% go A{YH$ hmo r{_`_
H$s H$_r ew Ja A{OV r{_`_ na ew CnJV Xmdo Ho$ 100 % H$s Am{Y` na JmZm H$s JB h & CgrHo$ AmYma na òH$ H$mamo~ma H$s JmZm H$s
JB h Ama g_V H$mamo~mam| _| r{_`_ H$s H _r hmoZo H$s {W{V _| òH$ IS> Ho$ AmYma na boImo | A{^km{nV {H$`m OmVm h &
214
The Company has taken various commercial premises and

residential flats under cancelable operating leases. These
lease agreements are normally renewed on expiry. Lease
terms are based on individual agreements. Lease rental
expense in respect of operating leases charged to revenue
account is `784728 thousands (`847247 thousands).
32.
Deferred Tax Assets has not been recognized as on

31.03.2016 in the absence of reasonable/virtual certainty
of sufficient future taxable income.
33.
In the opinion of the management, there is no impairment

of assets of the company that require any adjustment to
be made in terms of Accounting Standard-28.
34. Prior period items have been included in the respective heads and consist of the following:
31.
(` 000)
Particulars
31.03.2016
31.03.2015
Prior period income
119208
11684
Prior period expenses
125493
76914
35. The sector-wise Gross Premium underwritten as certified by the Management is as follows:
(` 000)
Sl.
No.
31.03.2016
Particulars
Value
1. Rural Sector (No. of Policies issued 8277502)

2. Social Sector (Lives covered 64194131)
3. Other Sector
Total Business
31.03.2015
%
Value
16121821
13.16
15048036
14.07
8841432
7.22
8532031
7.98
97540378
79.62
83337265
77.95
122503631
100.00
106917332
100.00
36. The details for extent of risk retained and reinsured are as follows:
(In %)
Particulars
31.03.2016
31.03.2015
1. Risk Retained (%)
87.46
87.23
2. Risk Reinsured (%)
12.54
12.77
37. Details of Provisions

(` 000)
Particulars
Provision for Leave Encashment (Long term)

31.03.2016
Opening balance
Provision for Bad and Doubtful Debts
31.03.2015
31.03.2016
31.03.2015
2220000
2070000
1962526
1815039
Additions
260000
150000
210627
184408
Utilization
Reversals
35572
36921
2480000
2220000
2137582
1962526
Closing balance
38.
Premium Deficiency: The Gross Direct unearned premium is arrived at 1/12 basis and the same is applied on Net Premium to arrive at
Net Unearned Premium. The net premium is compared with the Net incurred claims (including claims related cost) and where the net
incurred claims is more than 100%, the premium deficiency is calculated on the excess over 100% of Net Incurred Claims on Net
215

NOTES TO ACCOUNTS
Sl.
No.
31.03.16 H$mo IS>mZwgma amOd Va na r{` | H$moB H$r Zht h & hmbm{H$ moQ>a S>r.Ama.nyb Ama dm` d AnVmbrH$aU g{d^mJ o r{`
H$s H$r hB h {Ogo ZrMo Xem`m J`m h
(` 000)
IS>
H$r
31.03.2016
S>r Ama nyb

{dmZZ
dm` d AnVmbrH$aU
39.
40.
H$_
g.
1.
n`mdaU Ama dZ mmb` Zo amOn A{YgyMZm {XZm{H$V

4.11.08 Ho$ mm`m go H$nZr H$mo nmM df Hs Ad{Y Ho {cE
n`mdaU amhV {Z{Y Ho {Z{Y ~YH Ho n _| {Z`wV H s h&
CgHo$ nMmV Omar A{YgyMZm g`m Eg.Amo./256(B)
{XZm{H$V 27 OZdar 2016 Ho$ AZwgma H$nZr H$mo {Z{Y ~YH
Ho n _| 31 mM 2016 VH$ ~T>m`m J`m h& {Z_mU, ewH
n{aH bZ H s Umbr gm{d{YH AnojmAm| Ama A` MmbZ
94181
19391
31079
1383553
794857
mmmbm| Ho$ g~Y m| nQ>rH$aU Ano{jV h& H${WV A{YgyMZm

Ho$ AZwgma H$nZr Zo {Z{Y ~YH$ godm ^ma Ho$ {bE df Ho$
XmamZ 6235 hOma (8749 hOma) H$mo Am` Ho$ $n m| mm`Vm
Xr h, `h {Z{Y Ho$ AZno{jV boIm Ho$ AmYma na h&
{d{^ gaH$mar m{YH$mam| mam XS>m_H$ H$m`dmhr H$m {ddaU

{ddaU
~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU
Ja AZwnmbZ / CbKZ
AmB,Ama,S>r.E. Ho$ {Z`m|/ {Xem {ZX}
emo / n[anm| Ho$ CKZ Ho$ H$maU
2.

NOTES TO ACCOUNTS
31.03.2015
godm H$a m{YH$mar

3. Am` H$a m{YH$mar
4. A` H$a m{YH$mar
dVZ {ZXoemb` / {ZU`H$ m{YH$ma /
5. A{YH$aU `m E\ .B.E_.E. Ho$ VhV H$moB
m{YH$ma
H$n{Z`m| Ho$ nOr`H$ / EZgrEbQ>r/ grEb~r
6. / H$nZr A{Y{Z`_ 1956 Ho$ VhV {ZJ_r`
H m` {d^mJ `m A` m{YH$mar
`m`mb`/ A{YH$aU mam j{Vny{V H$mo
7. N>moS>H$a, Xmdm {ZnQ>mZ g{hV {H$gr _m_bm
hoVw Omar OwmmZm AmXoe
8. ^maVr` {V^y{V Ama {d{Z_` ~moS>
9. ^maVr` {V`mo{JVm Am`wV
H$moB A` Ho$r` / am` / WmZr` gaH$ma
10.
/ gm{d{YH$ m{YH$ma
{damoYr {VnYu WmAm| H$m Amamon
216
(` 000)
AXm H$s J`r

OwmmZm
OwmmZm
OwmmZm A{Y`mJ /
H$Q>mVr
6000
6000
1566200
(` 000)
Segment
Deficiency
31.03.2016
31.03.2015
DR Pool
94181
19391
Aviation
31079
1383553
794857
Health & Hospitalization

39.
The Company was appointed as Fund Manager for

Environment Relief Fund (ERF) vide Ministry of
Environment and Forests Gazette Notification dated
04.11.2008 for a period of five years and vide subsequent
notification no. S.O 256 (E) dated 27th January, 2016, the
companys position as Fund Manager was extended upto
31st March 2016. Pending receipt of clarification
Unearned Premium and the same is calculated for each portfolio and is recognized in the books only when there is deficiency at
segmental Revenue Account level. For the year ended 31.03.2016, there is no premium deficiency at segmental revenue level. However,
premium deficiency has arisen only in Motor DR Pool and Health & Hospitalisation portfolio and the same is disclosed hereunder.
regarding Constitution, statutory requirements and other

operational issues, the Company in terms of the said
notification has recognized Fund Managers service
charges to the tune of ` 6235 thousands (`8749
thousands) as income during the year, based on the
unaudited accounts of the Fund.
40. Details of penal actions taken by various Government Authorities:

(` 000)
Authority
Non- Compliance / Violation
1.
Insurance Regulatory and Development Due to Violation of

IRDAI
Authority
Regulation/ Guidelines/Circular
2.
Penalty
Awarded
Penalty Paid
Penalty Waived /
Reduced
6000
6000
Service Tax Authorities
3.
Income Tax Authorities
4.
Any other Tax Authorities
5.
Enforcement Directorate / Adjudicating

Authority / Tribunal or any Authority under
FEMA
6.
Registrar of Companies / NCLT / CLB /

Department of Corporate Affairs or any
Authority under Companies Act, 2013
7.
Penalty awarded by any Court / Tribunal for

any matter including claim settlement but
excluding compensation
8.
Securities and Exchange Board of India
9.
Competition Commission of India
1566200
10.
Any other Central / State / Local Government

/ Statutory Authority
Alleged Anti- Competitive Practice
217

NOTES TO ACCOUNTS
Sl.no
Ama H$mZyZr am` Ho$ AmYma na H$moB mdYmZ Amd`H$ Zht mZm J`m
h& {V`mo{JVm Anrbr` `m`m{YH$aU | Anrb Xmà H$aZo Ho$ {bE h
Zo nò 156620 hOma H$s am{e Om H$a Xr h Omo {H$ A{J d A`
OmAm| | em{b h (AZwgyMr 12) df Ho$ XmamZ gaH$mar m{YH$ma mam
H$moB A` XS>m_H$ H$madmhr Zht H$s J`r h &
Ho$ab gaH$ma mam Omar Ama.Eg.~r.dmB. `moOZm Ho$ mbo | gmdO{ZH$

~rm H$n{Z`m| mam bJmB JB gmy{hH$ ~mobr go g~pYV mbo |
^maVr` {VnYm Am`moJ Ho$ AmXoe {XZmH$ 10,07.15 mam {damoYr
{VnYu WmAm| H$m Amamon bJmVo hE 1566200 hOma H$m OwmZm
bJm`m J`m h& {VnYm Anrbr` `m`m{YH$aU | Anrb Xmà H$aZo
Ho$ ~mX AV[a amoH$ XmZ H$a Xr JB h& b{~V Anrb Ho$ {ZnQ>mZ
41 _mBH$mo, bKw, _` C_ {dH$mg A{Y{Z`_ 2006 H$s Ymam 22 Ho$ VhV _mBH$mo Ama bKw, C_ H$mo {db~ go ^wJVmZ A`m` Ho$ AYrZ Ano{jV
H$Q>rH$aU
31.03.2016
31.03.2015

NOTES TO ACCOUNTS
Nil
1. df Ho$ AV H$mo {H$gr ^r Amny{VH$Vm Ho$ {bò AXV eof _yb YZ am{e
Nil
2. CnamoV am{e na `mO
3._mBH$mo, bKw, _` C_ {dH$mg A{Y{Z`_ 2006 H$s Ymam 16 Ho$ AZwgma ^wJVmZ
Nil
`mO H$s am{e
Nil
4. df Ho$ XmamZ {ZYm[aV {Xdg Ho$ ~mX Amny{VH$Vm H$mo ^wJVmZ H$s J`r am{e
5. {db~ go ^wJVmZ H$aZo Ho$ {bò ~H$m`m Ama Xo` `mO H$s am{e naVw A{Y{Z`_ Ho$
Nil
VhV {Z{XQ> `mO H$mo OmoSo {~Zm &
Nil
6. df Ho$ AV _| A{OV Ama ~H$m`m AXV `mO H$s am{e
H$nZr Ho$ nmg CnbY gyMZm Ho$ AmYma na nm{Q>`m| H$s nhMmZ H$aVo hE Cnamo$ OmZH$mar H$mo gH${bV {H$`m J`m h &
Mmby df Ho$ dJuH$aU / nQ>rH$aU Ho$ AZwnmbZ H$aZo Ho$ {bò

Ohm Amd`H$ hmo JV df Ho$ AmH$So nwZdJuH$V {H$ò Jò h& AmB.
Ama.S>r.E.{d{Z` 2002 (~rm H$nZr Ho$ {dmr` {ddaU Ed
boIm narjm [anmoQ> H$s V`mar) Ho$ AZwgma AZygyMr 4 Ho$ VhV
Ohm `` Ama Am` Hw$b r{` Ho$ 1% go A{YH$ `m
` 500000/- (Omo ^r A{YH$ hmo) Cgo AbJ go Xem`m
43.
AmB.Ama.S>r.E. Ho$ _mZXS> Ho$ AZwgma {dVr` {ddaU _| d{UV {hgo _| AmH$So nò hOmam| _| h &

gZXr boImH$ma
E\$AmaEZ 000511Eg
^mJrXma
gX`Vm g . 201825
Nil
Nil
Nil
Nil
Nil
OmòJm& Bg df Ho$ XmamZ `wog Ho$ VhV {H$ò Jò IM} `

1975131 hOma H$s am{e {ZYm[aV grm go A{YH$ hB h AV:
Cgo AbJ go Xem`m J`m h& df Ho$ XmamZ BZ Xm| | {H$` Jò
IMm} H$s am{e ` 897295 hOma H$mo A` X | VwbZmH$
Co` go AbJ go Xem`m J`m h&
42.
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm
Nil
{ZXoeH$JU
h_mao gbZ {VdoXZ Ho$ AZwgma

gZXr boImH$ma
E\$AmaEZ 01931Eg
grE EZ. Ama gwaoe
^mJrXma
gX`Vm g . 021661
WmZ: Mo
{XZmH$ : 13 _B, 2016
218

{_{bX IamV
A`j-gh-~Y {ZXoeH
dr.B.H$_b
{dVr` gbmhH$ma
Eg. d|H$Q>am_Z
H$nZr g{Md
gZXr boImH$ma
E\$AmaEZ 02510Eg
grE EZ. a_Ur
^mJrXma
gX`Vm g . 022438
41. Disclosures required under Section 22 of Micro, Small and Medium Enterprises Development Act 2006 under the
Chapter on Delayed Payments to Micro and Small Enterprises
31.03.2016
the Appeal and based on legal opinion no provision is considered

necessary. For filing appeal before Competition Appellate Tribunal
we have deposited a sum of ` 156620 thousands, which is included
under Advances and Other Deposits (Schedule 12).
No other penal action has been taken by any other Government
Authority during the year.
Competition Commission of India (CCI) by order dated 10.07.2015 has

imposed a penalty of ` 1566200 thousands alleging anti-competitive
practices, in the matter relating to collective bidding by Public Sector
Insurance Companies for RSBY Scheme floated by Government of
Kerala. The appeal has since been filed with Competition Appellate
Tribunal and interim stay has been granted. Pending disposal of
31.03.2015
Principal amount remaining unpaid to any supplier as at the end of the year
Nil
Nil
Interest due on the above amount
Nil
Nil
Amount of interest paid in terms of Section 16 of the MSMED Act, 2006.
Nil
Nil
Amount of payments made to the suppliers beyond the appointed

day during the year
Nil
Nil
Amount of interest due and payable for the delay in making the payment but
without adding the interest specified under Act
Nil
Nil
Amount of interest accrued and remaining unpaid at the end of the year
Nil
Nil
The above information have been compiled to the extent such parties have been identified on the basis of information available with the company.
42.
Regrouping/reclassifying/ rearranging of previous year

figures has been done wherever necessary to conform to
current year groupings/ classifications.
shall be shown as a separate line item. During the year,

the expenses under UMEX amounting to Rs.1975131
thousands have crossed the threshold limit and is shown
as a separate line item. Expenses under the above head
during the previous year Rs.897295 thousands which
was grouped under Others is shown separately for
comparative purpose.
As per IRDAI (preparation of Financial Statements and

Auditors report of Insurance Companies) Regulations,
2002, under Schedule 4 where Items of expenses and
income in excess of one percent of the total premiums
(less reinsurance) or Rs.5,00,000/- whichever is higher,
43. Figures in the narrative part of financial statements are in thousands of Rupees, conforming to IRDAI norms.
Alok Tandon
A V Girija Kumar
A Hoda
MILIND KHARAT
V E KAIMAL
FINANCIAL ADVISOR
DIRECTORS
S VENKATARAMAN
COMPANY SECRETARY
For Brahmayya & Co.

FRN: 000511S
Vide our report of date attached

FRN: 01931S

FRN: 02510S
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
Place: Chennai
219

NOTES TO ACCOUNTS
AZwbZH$-1 : boIm AZwnmV

nOrH aU g`m : 545
AZwbZH$-1 : boIm AZwnmV

(` 000)
H$_
g.
1
{ddaU
gH$b `j r{_`_ d{ Xa
31.03.2015
H$mo g_m df Ho$ {bE
31.03.2016
H$mo g_m df Ho$ {bE
gH$b r{_`_
d{/hamg
13113873
12514935
4.79%
5.19%
2540614
2821435
(9.95%)
(8.11%)
g_wr nmoV
1842176
2445867
(24.68%)
(12.72%)
47285441
41691674
13.42%
12.38%
H$_H$ma {VH$a
904293
924850
(2.22%)
3.38%
`pVJV XwKQ>Zm
2552900
2320096
10.03%
11.26%
_moQ>a
669777
569936
17.52%
(16.70%)
5172360
5410084
(4.39%)
(5.26%)
dm`
41229942
31768630
29.78%
19.43%
Xm{`d
836953
714180
17.19%
4.93%
6355301
5735647
10.80%
3.04%
122503631
106917333
14.58%
10.12%
122503631
106917333
57311975
55890343
213.75%
191.30%
df Ho$ AV _|
57311975
55890343
df Ho$ ma^ _|
55890343
53605280
2.54%
4.26%
{d_mZZ
BOr{Z`[aJ
A` {d{dY
Hw$b `moJ
eoàYmaH$m| H$s {Z{Y _| gH$b n`j r{_`_
gH$b r{_`_
eoàYmaH$m| H$s {Z{Y
AZwnmV
3
eoàYmaH$m| H$s {Z{Y _| d{ Xa
d{ Xa
4
31.03.2015
H$mo g_m df Ho$ {bE
g_wr Zm^ma
ApZ
31.03.2016
H$mo g_m df Ho$ {bE
ew {VYmaU AZwnmV
ew r{_`_
n{VeV
ANNEXURE 1: ACCOUNTING RATIOS
4(i) ew {VYmaU AZwnmV (^maVr`)

ApZ
8236211
7598388
57.16%
56.05%
g_wr Zm^ma
2174994
2327654
85.55%
82.29%
530616
636336
26.62%
24.05%
44410187
39046070
93.74%
93.65%
H$_H$ma {VH$a
859078
878607
95.00%
95.00%
`pVJV XwKQ>Zm
2168198
1897926
84.65%
81.30%
(20390)
47364
(2.87%)
7.80%
2972453
2809761
53.67%
47.78%
dm`
39168268
31789839
95.00%
100.07%
Xm{`d
602043
580915
71.58%
80.04%
6043919
5647361
85.64%
85.60%
107145576
93260221
85.60%
85.12%
g_wr nmoV
_moQ>a
{d_mZZ
BOr{Z`[aJ
A` {d{dY
Hw$b `moJ
4(ii) ew {VYmaU AZwnmV ({dXoer)
ey`
220

ANNEXURE I : ACCOUNTING RATIOS

(` 000)
Sl.
1
Particulars
Gross Direct Premium Growth rate
Fire
For the
Year ended
31.03.2015
For the Year

ended 31.03.2016
Gross Premium
Growth / Decline
12514935
4.79%
5.19%
Marine Cargo
2540614
2821435
(9.95%)
(8.11%)
Marine Hull
1842176
2445867
(24.68%)
(12.72%)
47285441
41691674
13.42%
12.38%
W.C
904293
924850
(2.22%)
3.38%
P.A
2552900
2320096
10.03%
11.26%
669777
569936
17.52%
(16.70%)
5172360
5410084
(4.39%)
(5.26%)
41229942
31768630
29.78%
19.43%
Aviation
Engineering
Health
Liability
836953
714180
17.19%
4.93%
6355301
5735647
10.80%
3.04%
122503631
106917333
14.58%
10.12%
122503631
106917333
57311975
55890343
213.75%
191.30%
At the end of the year
57311975
55890343
55890343
53605280
2.54%
4.26%
Other Misc
Grand Total
Gross Direct Premium to Shareholders Funds
Gross Premium
Shareholders Fund
Ratio
3
Growth rate of Shareholders funds
Growth rate
4
For the Year

ended 31.03.2015
13113873
Motor
For the Year

ended 31.03.2016
ANNEXURE I : ACCOUNTING RATIOS
Net Retention Ratio
Net Written Premium
Percentage
Fire
8236211
7598388
57.16%
56.05%
Marine Cargo
2174994
2327654
85.55%
82.29%
530616
636336
26.62%
24.05%
44410187
39046070
93.74%
93.65%
W.C
859078
878607
95.00%
95.00%
P.A
2168198
1897926
84.65%
81.30%
(20390)
47364
(2.87%)
7.80%
2972453
2809761
53.67%
47.78%
39168268
31789839
95.00%
100.07%
602043
580915
71.58%
80.04%
Marine Hull
Motor
Aviation
Engineering
Health
Liability
Other Misc
Grand Total
6043919
5647361
85.64%
85.60%
107145576
93260221
85.60%
85.12%
4(ii) Net Retention Ratio( Foriegn)
NIL
221
4(i) Net Retention Ratio (Indian)
ew H$_reZ AZwnmV
31.03.2016 H$mo g_m

df Ho$ {bE
31.03.2015 H$mo
g_m df Ho$ {bE
ew H$_reZ
n{VeV
ApZ
680465
577260
8.26%
7.60%
g_wr Zm^ma
241784
321843
11.12%
13.83%
g_wr nmoV
(14821)
(30331)
(2.79%)
(4.77%)
1095767
1264947
2.47%
3.24%
H$_H$ma {VH$a
84650
90808
9.85%
10.34%
`pVJV XwKQ>Zm
114986
170126
5.30%
8.96%
{d_mZZ
(7546)
(1944)
37.01%
(4.10%)
BOr{Z`[aJ
60532
10784
2.04%
0.38%
2258923
2524917
5.77%
7.94%
_moQ>a
dm`
93081
84292
15.46%
14.51%
525696
300225
8.70%
5.32%
5133517
5312927
4.79%
5.70%
`j H$_reZ
6304699
6533381
MmbZ ``
29240660
26485705
Xm{`d
A` {d{dY
Hw$b `moJ
6
gH$b `j r{_`_ AZwnmV _| ~YZ IM
35545358
33019086
122503631
106917333
29.02%
30.88%
`j H$_reZ
6304699
6533381
MmbZ ``
29240660
26485705
Hw$b
Hw$b `m r{_`_
AZwnmV
7
ew r{_`_ AZwnmV _| ~YZ IM
Hw$b
ew r{_`_
AZwnmV
31.03.2016 H$mo g_m 31.03.2015 H$mo g_m

df Ho$ {bE
df Ho$ {bE
ew CnJV Xmdo _| ew A{OV r{_`_
ew CnJV Xmdm
35545358
33019086
107145576
93260221
33.17%
35.41%
n{VeV
ApZ
5875403
6065130
74.31%
75.21%
g_wr Zm^ma
1321683
2073445
58.71%
86.61%
743889
513087
116.90%
78.77%
30137160
25252400
72.22%
68.58%
H$_H$ma {VH$a
231802
192638
26.68%
22.29%
`pVJV XwKQ>Zm
1824568
1141150
89.74%
63.74%
113855
92477
3458.84%
209.75%
2029606
1528037
70.36%
48.33%
dm`
44035001
34464580
124.12%
122.50%
Xm{`d
424030
334981
71.69%
58.79%
1273926
2772355
21.79%
48.93%
88010923
74430279
87.81%
84.42%
g_wr nmoV
_moQ>a
{d_mZZ
BOr{Z`[aJ
A` {d{dY
Hw$b `moJ
222
Net Commission
Percentage
680465
577260
8.26%
7.60%
Marine Cargo
241784
321843
11.12%
13.83%
Marine Hull
(14821)
(30331)
(2.79%)
(4.77%)
1095767
1264947
2.47%
3.24%
W.C
84650
90808
9.85%
10.34%
P.A
114986
170126
5.30%
8.96%
Aviation
(7546)
(1944)
37.01%
(4.10%)
Engineering
60532
10784
2.04%
0.38%
2258923
2524917
5.77%
7.94%
93081
84292
15.46%
14.51%
Other Misc
525696
300225
8.70%
5.32%
Grand Total
5133517
5312927
4.79%
5.70%
Health
Liability
Expenses of management to Gross Direct Premium ratio

Direct Commission
6304699
6533381
Operating Expenses
29240660
26485705
Total
35545358
33019086
122503631
106917333
29.02%
30.88%
Direct Commission
6304699
6533381
Operating Expenses
29240660
26485705
Total
35545358
33019086
107145576
93260221
33.17%
35.41%
Gross Direct Premium

Ratio
7
Expense of Management to Net Written Premium Ratio
Net Written Premium

Ratio
8
For the Year

ended 31.03.2015
Fire
Motor
For the Year

ended 31.03.2016
Net Commission Ratio
For the
Year ended
31.03.2015
Net Incurred Claims to Net Earned Premium
Net Incurred Claim
Fire
5875403
6065130
74.31%
75.21%
Marine Cargo
1321683
2073445
58.71%
86.61%
Marine Hull
Percentage
743889
513087
116.90%
78.77%
30137160
25252400
72.22%
68.58%
W.C
231802
192638
26.68%
22.29%
P.A
1824568
1141150
89.74%
63.74%
113855
92477
3458.84%
209.75%
Motor
Aviation
Engineering
2029606
1528037
70.36%
48.33%
44035001
34464580
124.12%
122.50%
424030
334981
71.69%
58.79%
Other Misc
1273926
2772355
21.79%
48.93%
Grand Total
88010923
74430279
87.81%
84.42%
Health
Liability
223
For the Year

ended 31.03.2016
g`wV AZwnmV *
31.03.2016 H$mo g_m

df Ho$ {bE
31.03.2015 H$mo
g_m df Ho$ {bE
31.03.2016 H$mo g_m 31.03.2015 H$mo g_m

df Ho$ {bE
df Ho$ {bE
ew CnJV Xmdo
88010923
74430279
H$_reZ (ew)
5133517
5312927
29240660
26485705
ew A{OV r{_`_
100228657
88162289
ew r{_`_
107145576
93260221
119.89%
118.52%
MmbZ ``
AZwnmV
*ZmoQ: {dXoer nMmbZ Ho$ g~Y _o hmJ-H$mJ EOgr (aZ Am\$) go H$moB Am` nm Zhr h AV: {dXoer nMmbZ Ho$ ew{ g`w$ AZwnmV JUZm H$m nZ Zhr CRVm h&
10
ew r{_`_ AZwnmV _| VH$ZrH$s Ama{jV

54125736
Ag_m Om{I_m| Ho$ {bò AmapmV
96196708
89957799
Hw$b
150322444
137166614
e r{_`_
107145576
93260221
140.30%
147.08%
r{_`_ H$s H$_r AmapmV

~H$m`m Xmdm| Ho$ {bò AmapmV
AZwnmV
11
~r_mboIZ eof AZwnmV
(1873067)
(25.45%)
(23.23%)
g_wr Zm^ma
(520180)
10.55%
(21.73%)
g_wr nmoV
(446548)
(313432)
(70.17%)
(48.12%)
_moQ>a
(679503)
74492
(1.63%)
0.20%
H$_H$ma {VH$a
338935
352980
39.01%
40.85%
`pVJV XwKQ>Zm
(511772)
(93027)
(25.17%)
(5.20%)
{d_mZZ
(269689)
(194758)
(8192.94%)
(441.74%)
BOr{Z`[aJ
(499655)
207778
(17.32%)
6.57%
dm`
(20534439)
(16647061)
(57.88%)
(59.17%)
Xm{`d
(124467)
(26921)
(21.04%)
(4.72%)
A` {d{dY
2345492
966575
40.12%
17.06%
(22156444)
(18066621)
(22.11%)
(20.49%)
(22156444)
(18066621)
17536546
15094694
(32245)
(119796)
(4652142)
(3091724)
100228657
88162289
(4.64%)
(3.51%)
22498170
29578651
150322444
137166614
14.97%
21.56%
MmbZ bm^ AZwnmV

~r_mboIZ bm^
{Zdoe Am`
A`
MmbZ bm^
ew A{OV r{_`_
AZwnmV
13
d{/mg
237567
Hw$b `moJ
~r_mboIZ bm^/ hm{Z

(2012363)
ApZ
12
47208815
Xm{`d AZwnmV _|o ZH$Xr n[agn{V`m

ZH$Xr n[agnpV`m
nm{bgrYmaH$m| H$s Xo`VmE
AZwnmV
224
For the Year ended

For the Year
For the Year ended
31.03.2016
ended 31.03.2015
31.03.2016
For the Year ended

31.03.2015
88010923
74430279
5133517
5312927
Operating Expenses
29240660
26485705
Net Earned Premium
100228657
88162289
Net Written Premium
107145576
93260221
119.89%
118.52%
Combined Ratio *
Net Incurred Claims
Commission (Net)
Ratio
*NOTE: In respect of foreign Operations, there is no premium income from Hong Kong Agency(run off), hence calculation of net combined ratio
for foreign operation does not arise.
Technical Reserves to net premium ratio
Reserve for Unexpired Risks
54125736
47208815
Premium Deficiency Reserve
96196708
89957799
Total
150322444
137166614
Net Written Premium
107145576
93260221
140.30%
147.08%
Reserve for O/s Claims
Ratio
11
Underwriting Balance Ratio

Fire
Marine Cargo
(25.45%)
(23.23%)
237567
(520180)
10.55%
(21.73%)
(313432)
(70.17%)
(48.12%)
Motor
(679503)
74492
(1.63%)
0.20%
W.C
338935
352980
39.01%
40.85%
P.A
(511772)
(93027)
(25.17%)
(5.20%)
Aviation
(269689)
(194758)
(8192.94%)
(441.74%)
Engineering
(499655)
207778
(17.32%)
6.57%
(20534439)
(16647061)
(57.88%)
(59.17%)
Liability
(124467)
(26921)
(21.04%)
(4.72%)
Other Misc
2345492
966575
40.12%
17.06%
(22156444)
(18066621)
(22.11%)
(20.49%)
Underwriting Profit
(22156444)
(18066621)
Investment Income
17536546
15094694
(32245)
(119796)
Operating Profit Ratio
Others
Operating Profits
Net Earned Premium
Ratio
13
(1873067)
(446548)
Grand Total
(2012363)
Growth / Decline
Marine Hull
Health
12
Underwriting Profit / Loss
(4652142)
(3091724)
100228657
88162289
(4.64%)
(3.51%)
22498170
29578651
150322444
137166614
14.97%
21.56%
Liquid Assets to Liabilities Ratio

Liquid Assets
Policyholders Liabilities
Ratio
225
10
14
31.03.2016 H$mo g_m 31.03.2015 H$mo g_m

df Ho$ {bE
df Ho$ {bE
ew Am` AZwnmV
H$a Ho$ ~mX bm^
ew r{_`_
AZwnmV
15
107145576
93260221
2.06%
3.22%
2205926
3005654
57311975.00
55890343.00
3.85%
5.38%
CnbY emoY j_Vm gr_m
55483024
55991150
Ano{jV emoY j_Vm gr_m
29075027
23734998
1.91
2.36
gH$b EZnrE AZwnmV
0.50%
0.43%
ew EZnrE AZwnmV
0.07%
0.09%
ew _`
AZwnmV
CnbY emoY j_Vm gr_m AZwnmV _| Ano{jV emoY j_Vm AZwnmV
AZwnmV
EZnrE AZwnmV
17
3005654
ew _y` go m Am`
H$a Ho$ ~mX bm^
16
2205926
226
For the Year ended

31.03.2016
Net Earnings Ratio

Profit after Tax
2205926
3005654
107145576
93260221
2.06%
3.22%
2205926
3005654
57311975.00
55890343.00
3.85%
5.38%
Available Solvency Margin
55483024
55991150
Required Solvency Margin
29075027
23734998
1.91
2.36
Gross NPA Ratio
0.50%
0.43%
Net NPA Ratio
0.07%
0.09%
Net Written Premium

Ratio
15
Return on Networth
Profit after Tax
Networth
Ratio
16
Available Solvency Margin Ratio to Required Solvency Margin Ratio
Ratio
NPA Ratio
17
For the Year ended

31.03.2015
14
227
{dVr` {ddaU H$m gmame

(. H$amoS>m| _|)
H$_ g.
2015-16
{ddaU
2014-15
2013-14
2012-13
2011-12
MmbZ n[aUm_
1
gH$b r{_`_ m
12250.36
10691.73
9708.93
9266.04
8179.29
ew r{_`_ Am` #
10714.56
9326.02
8291.39
7489.07
6779.52
1753.65
1509.47
1326.96
1245.25
1011.58
(3.22)
(11.98)
(21.96)
23.53
(3.05)
12464.99
10823.51
9596.40
8757.86
7788.05
513.35
531.29
438.83
308.08
356.92
2924.07
2648.57
2111.23
2001.62
1566.06
{Zdoe go m Am` (ew) @
A` Am` / `` ({ddaUmZwgma)
Hw$b Am`
H$_reZ (ew)
~moH$aoO
MmbZ IM
Xmdo, Ag_m Omo{I_ Ama{jV Ama A` `` go d{
9492.78
7952.82
6965.47
6373.05
6079.23
10
MmbZ bm^ / hm{Z
(465.21)
(309.17)
80.86
75.12
(214.15)
Ja-MmbZ n[aUm_
11
eoàYmaH$m| Ho$ ImVo Ho$ AYrZ Hw$b Am`
721.10
628.41
552.20
542.74
683.44
12
H$a Ho$ nyd bm^ / (hm{Z)
255.88
319.24
633.06
617.86
469.28
13
H$a Ho$ {bE mdYmZ
14
H$a Ho$ ~mX bm^ / hm{Z
35.29
18.67
105.45
90.52
82.49
220.59
300.57
527.60
527.33
386.79
15032.24
13716.66
12624.12
11765.66
9995.25
5731.20
5589.03
5360.53
4952.63
4547.47
150.00
150.00
150.00
150.00
150.00
{d{dY
15
nm{bgrYmaH$m| H$m ImVm *

Hw$b {Z{Y
Hw$b {Zdoe
{Zdoe go Am`
16
eoàYmaH$m| H$m ImVm: *

Hw$b {Z{Y
Hw$b {Zdoe
{Zdoe go Am`
SUMMARY OF FINANCIAL STATEMENTS
17
MwH$Vm gm`me eoà
18
ew _y`
5731.20
5589.03
5360.53
4944.92
4541.58
19
Hw$b n[agnpV`m
28008.04
28726.70
25674.42
23324.90
20774.09
20
H$wb {Zdoe go Am`
8.85%
9.35%
11.88%
10.67%
8.48%
21
{V eoà go Am` (`)
14.71
20.04
35.17
35.15
25.79
22
{V eoà H$m ImVm _y` (`)
382.08
372.60
357.37
329.66
302.77
67.00
61.00
106.00
106.00
78.00
4.47
4.07
7.07
7.07
5.20
23
Hw$b bm^me
24
{V eoà na bm^me (`)
ew nwZ~u_m
ew hm{Z
`{X g^d hmo Vmo _X g.15 Ed 16 H$mo nWH$ $n go {X`m Om` &
228
` in Crores
Sl.No.
Particulars
2015-16
2014-15
2013-14
2012-13
2011-12
OPERATING RESULTS
1
Gross Premiums Written
12250.36
10691.73
9708.93
9266.04
8179.29
Net Premium Income #
10714.56
9326.02
8291.39
7489.07
6779.52
Income from investments (net) @
1753.65
1509.47
1326.96
1245.25
1011.58
Other income / outgo (Pl. specify)
(3.22)
(11.98)
(21.96)
23.53
(3.05)
Total income
12464.99
10823.51
9596.40
8757.86
7788.05
Commissions (Net)
513.35
531.29
438.83
308.08
356.92
Brokerage
Operating Expenses
2924.07
2648.57
2111.23
2001.62
1566.06
Claims, increase in Unexpired Risk Reserve and other

outgoes
9492.78
7952.82
6965.47
6373.05
6079.23
10
Operating Profit / loss
(465.21)
(309.17)
80.86
75.12
(214.15)
NON-OPERATING RESULTS
11
Total income under shareholders account
721.10
628.41
552.20
542.74
683.44
12
Profit / (Loss) before tax
255.88
319.24
633.06
617.86
469.28
13
Provision for tax
14
Profit / Loss after tax
35.29
18.67
105.45
90.52
82.49
220.59
300.57
527.60
527.33
386.79
15032.24
13716.66
12624.12
11765.66
9995.25
5731.20
5589.03
5360.53
4952.63
4547.47
150.00
150.00
150.00
150.00
150.00
5731.20
5589.03
5360.53
4944.92
4541.58
28008.04
28726.70
25674.42
23324.90
20774.09
MISCELLANEOUS
15
Policy holders Account: *

Total funds
Total investments
Yield on investments
16
Shareholders Account *
Total funds
Total investments
17
Paid up equity capital
18
Net worth
19
Total assets
20
Yield on total investments
8.85%
9.35%
11.88%
10.67%
8.48%
21
Earnings per share (`)
14.71
20.04
35.17
35.15
25.79
22
Book value per share (`)
382.08
372.60
357.37
329.66
302.77
23
Total Dividend
67.00
61.00
106.00
106.00
78.00
24
Dividend per share (`)
4.47
4.07
7.07
7.07
5.20
Net of reinsurance
Net of losses
Points 15 & 16 may be given seperately, if it is feasable
229
Yield on investments
MANAGEMENT REPORT ON FINANCIAL STATEMENTS
~YZ {VdoXZ
31.03.2016 H$mo g_m Ad{Y Ho$ {dVr` {ddaU Ho$ gmW gbZ ~YZ {VdoXZ
~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU (AmB Ama S>r E)
(~r_m H$n{Z`m| Ho$ {dVr` {ddaU Ama boIm narjm [anmoQ> H$s V`mar)
{d{Z`_ 2002 Ho$ mdYmZm| Ho$ AZwgma V`ma {H$`m J`m h &
1. h_ nwQ> H$aVo h {H$ ~r_m A{Y{Z`_ 1938 H$r Ymam (3) Ho$ VhV
~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU mam XmZ {H$ò Jò nOrH$aU
_mU n H$m ZdrH$aU {H$`m J`m h Ama {XZm{H$V 31 _mM 2016 H mo$
_m` h &
2. h_ _m{UV H$aVo h {H$ g^r Ja {ddmXmnX am{e`m dYm{ZH$ m{YH$mam|
H$mo ^wJVmZ H$r JB $h &
3. h_ EVXmam nwQ> H$aVo h {H$ df Ho$ XmamZ eoàYmaU H$m {V_mZ
dYm{ZH$ Ama {d{Z`m_H$ H$s Anojm Ho$ AZwgma h & df Ho$ XmamZ
eoàm| H$m AVaU Zht {H$`m J`m h &
4. ~YZ EVXmam nwQ Ama KmofUm H$aVr h {H$ ^maV _| Omar
nm{bgrYmaH$m| H$s {Z{Y `j `m namoj $n _| ^maV Ho$ ~mha {Zdo[eV
Zht h &
5. h_ nwQ H$aVo h {H$ Ano{jV emoY j_Vm H$s gr_m H$m`_ aIr JB h &
6. h_ _m{UV H$aVo h {H$ VwbZ n H$s VmarI na n[agnpV`m| Ho$ _y`m|
H$s g_rjm H$a n[agnpV Ho$ Ad_y`Z / _y`mg hoVw mdYmZ {H$`m
J`m h & VwbZ n _| Cpb{IV n[agnpV`m| H$mo - G$U, {Zdoe,
{Zdoe hoVw AmdoXZ am{e, ^maV _| Jh gnpV, A{^H$Vm eof, ~H$m`m
r{_`_, ~H$m`m `mO, bm^me VWm {H$am`m, Cnm{OV {H$Vw Xo` Zht
`mO, bm^me VWm {H$am`m, ~r_m H$mamo~ma H$aZodmbo `pV`m| /
{ZH$m`m| go m am{e`m, nwZ~u_m Ho$ H$maU H$n{Z`m| go Xo` Ama{jV
O_m, {d{dY XoZXma, A{J_ H$a VWm A` H$a ^wJVmZ, ZH$X, dgybr
a{hV dmhZ G$U / AeXmZ (pWa n[agnpV`m my`mg Ho$ nMmV bmJV
na AmH${bV h H$mo NmoS >H$a)>H$m _y` nyU `moJo _| {b`m J`m h Omo {d{^
erfH$m| Ho$ AVJV dgybr `m ~mOma _y` go A{YH$ Z hmo &
7. h_ nwQ H$aVo h {H$ Omo{I_ ^mdZ Ho$ {bò H$nZr mam {V {d^mJ Ho$
VhV ~r_m{b{IV g_V Omo{I_m| H$mo `mZ go _y`mH$Z Ama narjU
{H$`m J`m h & Omo{I_ `yZrH$aU Ho$ {bE ^mdembr T>J go {ZdmaU
H$m`dmhr Omar h & H$nZr H$r j_Vm Ho AZw$n ha {d^mJ H$s Omo{I_
^mdZ H$mo `mZ _| aIVo hE nwZ~u_m H$m`H$_ V`ma {H$`m J`m h &
~h_wIr Omo{I_ ^mdZ na H$nZr H$s n`m AnojmAm| Ho$ AmYma na
ew ImVo Ho$ {bò {V Omo{I_ / KQ>Zm C{MV Va na gwajm H$s JB
h &
8. 31-3-2002 H$mo H$mamo~ma H$s g_m{ go H$nZr Ho$ hmJH$mJ EOogr
_|o ~r_m boIZ MmbZ ~X H$a {X`m J`m h & amOd {dpQ>`m| VWm
n[agnpV`m| d Xo`VmAm| H$mo h_mar boIm ~{h`m| _| gp_{bV H$a aho h
& {H$gr A` {dXoe _| H$nZr H$m H$moB `j MmbZ Zht h &
9. 067/AmB.Ama.S>r.E./E\$&E/n[a/_mM 2008 {XZm{H$V 28-3-2008

Ho$ AZwgma 31-3-2016 H$mo g_m nmM dfm] hoVw eof Xmdo H$m dfdma
{dbofU AZwbZH$ _| {X`m J`m h &
10. h_ _m{UV H$aVo h {H$ VwbZ n Ho$ {bò g{H$` ~mOma _| `mnm[aV
gm`me moàm| Ho$ Abmdm A` {Zdoe VWm nman[aH$ {Z{Y H$s `y{ZQ
{OZH$m ew n[agnpV _y` Kmo{fV h, H$mo dmV{dH$ _y` `m H$m
_y` na Xemò Jò h & g{H$` $n go `mnm[aV gm`me eoàm| H$mo
VwbZ nV H$s VmarI H$mo EZ. Eg. B. Ho$ A{V_ Xemò Jò _y` na
_y`m{H$V {H$`m J`m h Ama Ohm Q>mH$ EZ Eg B _| Agy{MV h CZH$mo
VwbZ nV H$r VmarI na gm`me eoàm| H$mo ~r Eg B _| A{V_ Xemò
Jò _y` na _y`m{H$V {H$`m J`m h & {Z{Y Xdmam Kmo{fV VwbZ nV Hr
VmarI na ew n[agnpV _y` na nman[aH$ BH$mB`m| (d|Ma H$m{nQ>b
{Z{Y a{hV) H$mo _y`m{H$V {H$`m J`m h & d|Ma H$m{nQ>b {Z{Y Ho$ {Zdoe
H$m _y`mH$Z _y` Ho$ AmYma na {H$`m J`m VWm Ohm VwbZ nV H$r
VmarI na {OZ {Zdoem| H$m ew n[agnpV _y` bmJV go H$_ hmo CZ
{Zdoem| Ho $_y` Ho$ Ad_y`Z Ho$ {bE mdYmZ {H$`m J`m h & VwbZ nV
H$s VmarI na Ohm ew n[agnpV _y` CnbY Z hmo Vmo AVZ
CnbY mw n[agnpV _y` H$mo {b`m OmVm h &
g{H$` ~mOma _| `mnm[aV gm`me eoàm| Ed nman[aH$ {Z{Y Ho$ ghr
_y` _| Am bm^ / hm{Z go Cn n[adVZ H$mo amOd ImVo _| Zht
{b`m J`m naVw {d{Z`_ Ho$ AZwgma ghr _y` n[adVZ ImVo _| {H$`m
J`m & ghr _y` n[adVZ ImVo _| m{ hoVw b{~V eof {dVaU Ho$ {bE
CnbY Zht h &
{Zdoe Ho$ ~mOma ym` H$s VwbZm _| gaH$mar {V^y{V`m| Ama G$U
{V^y{V`m| H$m _y`mH$Z E\$.AmB.E_.E_.S>r.E. Ho$ _mZXS> na {H$`m
J`m h & A` XVmdoO
m| H$m _y`mH$Z mdYmZ a{hV bmJV na {H$`m J`m
h `{X H$moB hmo &
11. {Zdoe H$m {ZnmXZ
G$U Ama O_m g{hV {Zdoe H$m ImVm _y` JV df Ho$ 19097.56
H$amo>S> go $ ` 19665.29 H$amo>S> VH$ ~T> J`m h & df Ho$ XmamZ mw
gM`Z ` 567.73 H$amo>S > h Omo 2014-15 _| ` 1518.40 H$amo>S > Wm &
{Zdoe Am` JV df Ho$ ` 1493.99 H$amo>S> H$s VwbZm _| ` 1553.98
H$amoS> h & CV Ad{Y Ho$ XmamZ AmgV {Z{Y Ho$ gH$b bm^ JV df Ho$
8.15% H$s VwbZm _| 8.02% h & JV df Ho$ ` 976.41
230
MANAGEMENT REPORT ON FINANCIAL STATEMENTS AS ON 31.03.2016

PREPARED IN ACCORDANCE WITH THE PROVISIONS OF IRDA
(PREPARATION OF FINANCIAL STATEMENTS AND AUDITORS REPORT OF
INSURANCE COMPANIES REGULATIONS 2002)
9. Agewise analysis of the claims for the preceding five years
ending 31.03.2016, in terms of 067/IRDA/F & A / CIR/March `08
dated 28.03.2008, has been given in the Annexure.
1. We confirm that the Registration Certificate granted under

Section 3 of Insurance Act, 1938 by the Insurance Regulatory
and Development Authority of India (IRDAI) has been renewed
and is valid as on 31st March 2016.
MANAGEMENT REPORT
3. We hereby confirm that the share holding pattern is in

accordance with the statutory and regulatory requirements and
there is no transfer of shares during the year.
4. The Management hereby confirms and declares that the funds
of the holders of policies issued in India have not been directly
or indirectly invested outside India
5. We confirm that required solvency margin has been maintained.
6. We certify that the values of all the assets have been reviewed
on the date of the Balance Sheet and necessary provisions
made for diminution/decline in value of assets. The assets set
forth in the Balance Sheet are shown in the aggregate at
amounts not exceeding their realisable or market value under
the headings Loans, Investments, Application Money for
Investments, House property in India, Agents Balances,
Outstanding Premium, Interest, Dividends and Rents outstanding,
Interest, Dividends and Rents accruing but not due, amounts
due from persons or bodies carrying on insurance business,
reserve deposits due from companies on account of reinsurance,
sundry debtors, advance tax and other tax payments, cash,
vehicle loans on contribution basis less recoveries (other than
fixed assets which is stated at cost less depreciation).
The unrealized gain/Loss arising due to changes in fair value of

actively traded equity shares and mutual fund investments are
not taken to revenue but are taken to the fair value change
account in accordance with the regulation. Pending realization,
the balance in the fair value change account is not available for
distribution.
For the purpose of comparison of market value of investments,
government securities and debt securities other than nonperforming assets have been valued on the basis of FIMMDA
guidelines. All other investments other than actively traded
equity shares and units of Mutual funds (other than venture
capital funds) which have declared NAV have been valued at
cost less provisions made, if any
7. We confirm that the company evaluates and monitors closely all

risks underwritten under each portfolio for the risk exposure.
Remedial action is initiated to mitigate the risks effectively.
Reinsurance Programme is drawn keeping in view the risk
exposure on every portfolio commensurate with the capacity of
the company. The risk exposure per risk/event for the net
account is protected at appropriate levels based on exposure to
multiple perils.
11. Performance of Investment

Total Book Value of Investment including loans and deposits has
increased to ` 19665.29 Crores from ` 19097.56Crores in the
previous year. The Net accretion during the year amounted to
` 567.73Crores as against ` 1518.40Crores in 2014-15
8. The Companys Hong Kong Agency has ceased underwriting

operations with effect from close of business as of 31.03.2002.
The revenue transactions and the assets and liabilities continue
to be accounted in our books of accounts. The Company has no
direct operation in any other foreign country.
The Investment Income is ` 1553.98 Crores as compared to

`1493.99 Crores in the previous year. During the said period,
the mean yield on Investment funds has been 8.02% as 8.15% h
231
10. We certify that for the purpose of balance sheet, the investments
other than actively traded equity shares and units of mutual
funds (other than venture capital funds) which have declared
NAVs have been shown at or below cost. Equity Shares that are
actively traded in the market are valued at the last quoted
closing price on NSE as on the balance sheet date and where
any stock is not being listed in NSE, the equity shares are valued
based on the last quoted closing price on BSE as on the balance
sheet date. Units of Mutual Funds (other than venture capital
funds) are valued at Net Asset value as at the balance sheet date
as declared by the funds. Investment in Venture capital funds
are valued at cost and provision is made for diminution in value
of such investment where net asset value as at the balance
sheet date is lower than cost. Wherever Net Asset Value as on
the balance sheet is not available, latest available Net Asset
Value is considered.
2. We certify that all the undisputed dues payable to statutory

authorities have been duly paid.
pW{V XmZ H$aZo Ho$ {bE C{MV Ama H$m` H$s pW{V H$m _y`mH$Z Ama
AZw_mZ {H$`m h ;
H$amo>S> H$s VwbZm _| Mmby df _| {Zdoe H$s {~H$s/n[aemoYZ na

` 575.67 H$amoS> H$m bm^ A{OV {H$`m h &
12. Hw$b {Zdoe _| ew Ja {ZnmXZ$n[agn{V`m| H$m {VeV 31.3.2016
H$mo 0.07% h Omo 31-3-2015 H$mo 0.09 % Wm &
B)
~YZ Zo H$nZr H$s n[agn{V H$s gwajm Ama H$nQ>nyU H$m` VWm
A` A[Z`{_VVmAm| H$s$ nhMmZ Ed CZgo gajU Ho$ {bò ~r_m
A{Y{Z`_ 1938 (1938 Ho$ 4) / H$nZr A{Y{Z`_ 1956
(1956 Ho$ 1) Ho$ mdYmZm| Ho$ AZwgma n`m boIm {ddaU Ho$
aIaImd Ho$ {bò C{MV Ama n`m `mZ {b`m h ;
B)
~YZ Zo H$m`m_H$ gJR>Z AmYma na {dVr` {ddaU V`ma {H$`m h ;

Ama
C)
~YZ Zo gw{ZpMV {H$`m h {H$ `mnma H m AmH$ma d d$n ghr
13. EVXmam nwQ> {H$`m OmVm h {H$ A) 31 _mM 2016 H$mo g_m {dVr` df hoVw dm{fH$ boIm {VdoXZ
H$mo V`ma H$aZo _| boIm _mZH$m|, {gmVm| Ama Zr{V`m| H$m
AZwnmbZ {H$`m J`m h Ama dVwJV {dMbZ go g~{YV C{MV
nQ>rH$aU {X`m J`m h ;
Am) ~YZ Zo Eogr boIm Zr{V`m| H$m M`Z Ama C{MV `moJ {H$`m h
Ama {dVr` df Ho$ AV _| H$nZr H$s n[apW{V Ama g_rjmYrZ
df Ho$ {bò H$nZr Ho$ bm^ H$s ghr Ama C{MV {ZnmXZ H$s
h Ama CgHo$ AZwgma AmV[aH$ boIm narjm Umbr h Omo

^mdembr TJ go H$màV h &
14. g~{YV nmH$mam| Ho$ H$m` {ddaU H$r {Q>npU`m Omo ImVmAm| H$m [hgm
h Cg_| H${Q>V h &
AbmoH$ QSZ
E ds {J{aOm
E hmoSm
{_{bX IamV
{ZXoeH$JU
A`j gh ~Y {ZXoeH$
WmZ : MoZ
{XZmH$ : 13 _B 2016
232
c) the Management has taken proper and sufficient care

for the maintenance of adequate accounting records in
accordance with the provisions of the Insurance
Act, 1938 (4 of 1938) / Companies Act, 2013, for
safeguarding the assets of the company and for
preventing and detecting fraud and other irregularities;
12. The Net Non Performing assets, as a percentage to total

Investments is at 0.07% as on 31-03-2016 as against 0.09 %
as on 31-03-2015.
13. It is hereby confirmed that
a) in the preparation of the annual accounts for the
financial year ended 31st March, 2016, the applicable
Accounting Standards, Principles and Policies have
been followed along with proper explanations relating
to material departures;
d) the Management has prepared the financial statements

on a going concern basis; and
e) the Management has ensured that an Internal Audit
System commensurate with the size and nature of the
business is in place and is operating effectively.
b) the Management has selected such accounting

policies and applied them consistently and made
judgements and estimates that were reasonable and
prudent so as to give a true and fair view of the state
Alok Tandon
A V Girija Kumar
A Hoda
of affairs of the company at the end of the financial

year and of the profit of the company for the year;
compared to 8.15%in the previous year. Profit on sale/

redemption of Investments booked during the year is ` 976.41
Crores compared to ` 575.67 Crores in the previous year.
14. The related party transactions are disclosed in the Notes forming
part of accounts.
MILIND KHARAT
DIRECTORS
Place: Chennai
233
Xmdm| H$m dmdma

Xmdm| H$m dmdma {ddaU 31-03-2016 (^maVr` `dgm`)
{d^mJ
30 {XZ `m Cggo H$_ Ad{Y Ho$ 3 _hrZo `m Cggo H$_ naVw 30 {XZ 6 _hrZo `m Cggo H$_ naVw 3
{bò eof
go A{YH$ Ad{Y Ho$ {bò eof
_hrZo go A{YH$ Ad{Y Ho$ {bò eof
(i)
g.
(ii)
am{e
g.
1 gmb `m Cggo H$_ naVw 6

(iii)
am{e
g.
(iv)
am{e
g.
am{e
ApZ
296
1982682
411
2101657
1361
6168594
1187
4876635
g_wr Zm^ma
308
485233
468
146184
860
269555
1538
406751
34
131212
34
2115510
63
83879
43
419127
10350
1622016
11895
704411
9354
818870
9422
1066555
2918
9505469
5385
1973651
6798
2220768
14806
5170053
709
101322
809
7756
17
40301
84
4408286
130
35800
157
65822
326
99286
186
10290184
472
131053
354
99839
906
263262
H$_H$ma {VH$ma
47
182817
54
11473
82
18407
165
39766
`pVJV XwKQ>Zm
444
461353
853
128178
987
202331
1327
259827
2734976
540100
10096
BOr{Z`[aJ
397
1763513
626
375613
818
1036876
1223
1320883
A` {d{dY
854
137995
745
192830
1301
218918
1683
645955
31
330815
51
42588
53
9279
153
174760
g_wr nmoV
_moQ>a {ZOr j{V
_mo Xw X A _| b{~V _moQ>a VVr` nj
A` _moQ>a VVr` nj
_moQ>a AdrHV Omo{I_ nyb
_moQ>a VVr` nj nyb
{d_mZZ
Xo`mm`|
dm` d AnVmbrH$aU
Hw$b
3838
5424281
2527
195930
2381
668779
1724
599555
20498
39657158
23652
8252975
24578
12499581
34526
15392811
Ageing of Claims as at 31-03-2016 (Indian Business)

O/s for 30 days or Less
Department
(i)
No.
O/s for 6 months or Less

but more than 3 months
(ii)
Amount
No.
O/s for 1 year or Less

(iii)
Amount
No.
(iv)
Amount
No.
Amount
Fire
296
1982682
411
2101657
1361
6168594
1187
4876635
Marine Cargo
308
485233
468
146184
860
269555
1538
406751
Marine Hull
AGEING OF CLAIMS AS AT 31-03-2016

but more than 30 days
34
131212
34
2115510
63
83879
43
419127
10350
1622016
11895
704411
9354
818870
9422
1066555
2918
9505469
5385
1973651
6798
2220768
14806
5170053
709
101322
809
7756
17
40301
Motor DR Pool
84
4408286
130
35800
157
65822
326
99286
Motor TP Pool
186
10290184
472
131053
354
99839
906
263262
47
182817
54
11473
82
18407
165
39766
444
461353
853
128178
987
202331
1327
259827
2734976
540100
10096
Engineering
397
1763513
626
375613
818
1036876
1223
1320883
Other Misc.
854
137995
745
192830
1301
218918
1683
645955
31
330815
51
42588
53
9279
153
174760
3838
5424281
2527
195930
2381
668779
1724
599555
20498
39657158
23652
8252975
24578
12499581
34526
15392811
Motor OD
Motor TP Pending in MACT
Motor TP Others
Workmen Comp.
Personal Acc.
Aviation
Liabilities
Health & Hosp.
TOTAL
234
(` 000)
3 gmb `m Cggo H$_ naVw 1 gmb go
A{YH$ Ad{Y Ho$ {bò eof

5 gmb go A{YH$ Ad{Y Ho$ {bò eof
(v)
(vi)
(vii)
g.
am{e
g.
am{e
1232
6160493
171
1157
1142891
116
471103
6362
g.
Hw$b
am{e
g.
am{e
879490
140
1870226
4798
24039777
215
222378
146
321207
4692
2994198
40
1089886
36
47599
366
4358315
530327
580
69766
431
63808
48394
4875753
40297
12998297
19985
4721879
63594
10972586
153783
47562703
16
45618
1654
1855
754
199315
910
299566
164
47711
170
10195
1941
4966665
6712
1721106
20777
5840289
15987
3760971
45394
22106704
395
91099
210
49735
217
40547
1170
433844
1687
245019
772
79312
170
130110
6240
1506130
12
210674
44340
32
3540186
1532
8000286
231
521776
54
250819
4881
13269765
2227
939889
598
587360
1100
247428
8508
2970377
555
498330
165
56410
277
102998
1285
1215180
3364
525829
307
35115
77
3095
14218
7452583
66574
33789293
44225
14079946
82403
17819732
296456
141491495
AGEING OF CLAIMS
(` 000)
O/s for 5 years or Less but more
than 3 years
O/s for more than 5 years
(v)
(vi)
(vii)
No.
Amount
No.
Amount
No.
Total
Amount
No.
Amount
1232
6160493
171
879490
140
1870226
4798
24039777
1157
1142891
215
222378
146
321207
4692
2994198
116
471103
40
1089886
36
47599
366
4358315
6362
530327
580
69766
431
63808
48394
4875753
40297
12998297
19985
4721879
63594
10972586
153783
47562703
16
45618
1654
1855
754
199315
910
299566
164
47711
170
10195
1941
4966665
6712
1721106
20777
5840289
15987
3760971
45394
22106704
395
91099
210
49735
217
40547
1170
433844
1687
245019
772
79312
170
130110
6240
1506130
12
210674
44340
32
3540186
1532
8000286
231
521776
54
250819
4881
13269765
2227
939889
598
587360
1100
247428
8508
2970377
555
498330
165
56410
277
102998
1285
1215180
3364
525829
307
35115
77
3095
14218
7452583
66574
33789293
44225
14079946
82403
17819732
296456
141491495
235
O/s for 3 years or Less but

more than 1 year

{d^mJ
30 {XZ `m Cggo H$_ Ad{Y Ho$

{bò eof
3 _hrZo `m Cggo H$_ naVw 30

{XZ go A{YH$ Ad{Y Ho$ {bò eof
6 _hrZo `m Cggo H$_ naVw 3


(i)
(ii)
(iii)
(iv)
g.
am{e
g.
am{e
g.
am{e
g.
am{e
ApZ
331
147045
292
1525485
1595
5038568
1360
3416422
g_wr Zm^ma
690
657225
544
336989
699
430049
1100
442656
49
345567
46
196131
57
70986
71
192578
_moQ>a {ZOr j{V
8080
1302780
10144
454721
8664
416243
9424
668688
1213
8373855
3722
1467685
6149
2187023
11228
3482688
A` _moQ>a VVr` nj
205
500525
157
44038
141
14358
405
280720
160
3418235
379
58128
181
49169
423
108364
_moQ>a VVr` nj nyb
312
14619756
642
207363
1020
350346
1685
536580
H$_H$ma {VH$ma
97
85729
126
21907
131
19036
257
43802
`pVJV XwKQ>Zm
740
93118
752
87532
938
93788
1780
326780
233285
12665
117630
BOr{Z`[aJ
555
927126
690
639250
1228
3109378
2106
2504120
A` {d{dY
1894
219482
1550
329275
2364
595721
2164
528171
41
317693
71
217964
140
14269
223
97706
g_wr nmoV
{d_mZZ
Xo`mm`|
dm` d AnVmbrH$aU
11974
3297987
1662
453771
1446
616673
3383
366020
Hw$b
26344
34539411
20777
6040238
24758
13018275
35614
13112924

Department
(i)
No.

(ii)
Amount
No.

(iii)
Amount
No.
(iv)
Amount
No.
Amount
Fire
331
147045
292
1525485
1595
5038568
1360
3416422
Marine Cargo
690
657225
544
336989
699
430049
1100
442656
49
345567
46
196131
57
70986
71
192578
Motor OD
8080
1302780
10144
454721
8664
416243
9424
668688
Motor TP Pending
1213
8373855
3722
1467685
6149
2187023
11228
3482688
Motor TP Others
205
500525
157
44038
141
14358
405
280720
Motor DR Pool
160
3418235
379
58128
181
49169
423
108364
Motor TP Pool
312
14619756
642
207363
1020
350346
1685
536580
97
85729
126
21907
131
19036
257
43802
740
93118
752
87532
938
93788
1780
326780
233285
12665
117630
Engineering
555
927126
690
639250
1228
3109378
2106
2504120
Other Misc.
1894
219482
1550
329275
2364
595721
2164
528171
41
317693
71
217964
140
14269
223
97706
Health & Hosp.
11974
3297987
1662
453771
1446
616673
3383
366020
TOTAL
26344
34539411
20777
6040238
24758
13018275
35614
13112924
Marine Hull

Workmen Comp.
Personal Acc.
Aviation
Liabilities
236

(v)
(vi)
(vii)
g.
am{e
g.
am{e
g.
Hw$b
am{e
g.
am{e
1048
4674675
145
592764
219
1999862
4990
17394822
1253
782468
300
204989
121
749299
4707
3603676
147
2660439
31
102123
35
34666
436
3602491
10147
425848
13462
304019
819
112913
60740
3685213
29494
7881696
18052
3548950
59473
9604285
129331
36546182
847
426898
229
56972
22
137845
2006
1461356
727
199294
1870
3833191
15897
4451254
20674
5107676
10017
2124208
50247
27397183
498
106216
217
51123
310
37450
1636
365263
2316
200366
588
84771
188
123162
7302
1009518
37980
30367
19426
24
451353
1819
4386119
204
306497
79
207443
6681
12079932
3573
1192597
669
401356
1546
259216
13760
3525818
345
375883
147
56982
247
75773
1214
1156270
4048
215585
472
175150
164
190
23149
5125376
72166
28017318
55193
11023738
73241
15485739
308093
121237642
(` 000)
(` 000)
than 3 years
(v)
(vi)
(vii)
No.
Amount
No.
Amount
No.
Total
Amount
No.
Amount
1048
4674675
145
592764
219
1999862
4990
17394822
1253
782468
300
204989
121
749299
4707
3603676
147
2660439
31
102123
35
34666
436
3602491
10147
425848
13462
304019
819
112913
60740
3685213
29494
7881696
18052
3548950
59473
9604285
129331
36546182
847
426898
229
56972
22
137845
2006
1461356
727
199294
1870
3833191
15897
4451254
20674
5107676
10017
2124208
50247
27397183
498
106216
217
51123
310
37450
1636
365263
2316
200366
588
84771
188
123162
7302
1009518
37980
30367
19426
24
451353
1819
4386119
204
306497
79
207443
6681
12079932
3573
1192597
669
401356
1546
259216
13760
3525818
345
375883
147
56982
247
75773
1214
1156270
4048
215585
472
175150
164
190
23149
5125376
72166
28017318
55193
11023738
73241
15485739
308093
121237642
237

more than 1 year

{d^mJ
{bò eof
(i)
g.
(ii)
am{e
g.

(iii)
am{e
g.
(iv)
am{e
g.
am{e
ApZ
477
4156585
256
729781
564
1872250
833
4683929
g_wr Zm^ma
627
292679
559
207211
727
562588
998
501027
g_wr nmoV
45
269302
34
46197
57
407755
54
291885
_moQ>a {ZOr j{V
6392
479401
8391
407693
7262
300004
9176
402842
1775
8617282
2949
816839
3077
1182855
6934
2331036
118
227368
77
-60663
348
295614
289
249079
76
39308
235
30469
416
79180
248
1759768
2422
19592718
3185
401768
2858
732003
4602
948989
H$_H$ma {VH$ma
100
82379
118
13616
150
24911
213
44482
`pVJV XwKQ>Zm
889
363992
823
97005
737
73131
1116
120566
41490
5521
60655
BOr{Z`[aJ
680
797604
526
465750
556
1200931
901
3658812
A` {d{dY
2259
542006
1784
263398
1944
418116
2390
582701
60
26638
51
18463
71
85714
70
262079
A` _moQ>a VVr` nj
_moQ>a VVr` nj nyb
{d_mZZ
Xo`mm`|
dm` d AnVmbrH$aU
Hw$b
7711
2470863
1608
169541
1367
102658
1353
182163
23636
40930624
20436
3588153
19774
7261874
29080
14223797




(i)
(ii)
(iii)
(iv)
Department
No.
Amount
No.
Amount
No.
Amount
No.
Amount
Fire
477
4156585
256
729781
564
1872250
833
4683929
Marine Cargo
627
292679
559
207211
727
562588
998
501027
45
269302
34
46197
57
407755
54
291885
Motor OD
6392
479401
8391
407693
7262
300004
9176
402842
1775
8617282
2949
816839
3077
1182855
6934
2331036
Marine Hull
Motor TP Others
118
227368
77
-60663
348
295614
289
249079
Motor DR Pool
76
39308
235
30469
416
79180
248
1759768
Motor TP Pool
2422
19592718
3185
401768
2858
732003
4602
948989
Workmen Comp.
100
82379
118
13616
150
24911
213
44482
Personal Acc.
889
363992
823
97005
737
73131
1116
120566
Aviation
41490
5521
60655
Engineering
680
797604
526
465750
556
1200931
901
3658812
Other Misc.
2259
542006
1784
263398
1944
418116
2390
582701
60
26638
51
18463
71
85714
70
262079
Liabilities
Health & Hosp.
TOTAL
7711
2470863
1608
169541
1367
102658
1353
182163
23636
40930624
20436
3588153
19774
7261874
29080
14223797
238


(v)
(vi)
(vii)
g.
am{e
647
g.
am{e
g.
Hw$b
am{e
g.
am{e
3351198
97
411614
244
1833579
3118
17038935
1257
942415
238
278606
111
659871
4517
3444397
90
2826667
20
80991
26
70663
326
3993459
15301
613182
5431
372275
8708
532146
60661
3107542
21511
5261593
16344
2723035
55205
8515820
107795
29448459
404
375301
23
167512
59
163604
1318
1417814
145
1114102
1120
3022827
27101
6756526
16264
3568266
4846
962449
61278
32962718
443
95888
190
33288
267
29110
1481
323674
1696
171972
179
57798
170
78122
5610
962586
15
98358
3425
34
209449
1026
1602502
149
602874
61
49359
3899
8377830
2942
1019976
533
127248
1514
194933
13366
3148378
138
194744
134
55330
228
68167
752
711135
59500
372988
246
18724
118
4961
71903
3321898
132319
23722618
40011
8519897
71922
13244138
337178
111491101
(` 000)
(` 000)
than 3 years
(v)
(vi)
(vii)
No.
Amount
No.
Amount
No.
Total
Amount
No.
Amount
647
3351198
97
411614
244
1833579
3118
17038935
1257
942415
238
278606
111
659871
4517
3444397
90
2826667
20
80991
26
70663
326
3993459
15301
613182
5431
372275
8708
532146
60661
3107542
21511
5261593
16344
2723035
55205
8515820
107795
29448459
404
375301
23
167512
59
163604
1318
1417814
145
1114102
1120
3022827
27101
6756526
16264
3568266
4846
962449
61278
32962718
443
95888
190
33288
267
29110
1481
323674
1696
171972
179
57798
170
78122
5610
962586
15
98358
3425
34
209449
1026
1602502
149
602874
61
49359
3899
8377830
2942
1019976
533
127248
1514
194933
13366
3148378
138
194744
134
55330
228
68167
752
711135
59500
372988
246
18724
118
4961
71903
3321898
132319
23722618
40011
8519897
71922
13244138
337178
111491101
239

more than 1 year

{d^mJ
{bò eof
(i)
g.
(ii)
am{e
g.

(iii)
am{e
g.
(iv)
am{e
g.
am{e
ApZ
372
795538
281
709293
458
2001440
748
3445897
g_wr Zm^ma
635
559067
645
203556
820
340722
1416
468737
47
164438
40
76982
46
3011128
78
143410
_moQ>a {ZOr j{V
9318
635854
16541
502582
19002
614260
18411
1014751
1082
4952051
1485
331738
3032
876490
6871
1124290
59
8513
65
17258
88
14714
117
121411
212
959482
145
6450
274
28366
95
4602
_moQ>a VVr` nj nyb
695
25472461
1549
371307
3061
795175
8606
2009343
H$_H$ma {VH$ma
127
258056
105
24270
122
11768
209
36893
`pVJV XwKQ>Zm
1017
380680
896
86805
796
71607
1040
136158
47405
40658
25605
7790
BOr{Z`[aJ
716
433925
525
263025
603
639574
942
800932
A` {d{dY
2124
300397
2487
256903
2480
296319
3157
577525
28
112190
26
33975
36
7566
63
40023
g_wr nmoV
A` _moQ>a VVr` nj
{d_mZZ
Xo`mm`|
dm` d AnVmbrH$aU
155128
2231100
3104
436134
1872
436191
2140
413486
Hw$b
171367
37316805
27787
3353889
32461
9144713
43896
10345247

Department
(i)
No.


(ii)
Amount
No.

(iii)
Amount
No.
(iv)
Amount
No.
Amount
Fire
372
795538
281
709293
458
2001440
748
3445897
Marine Cargo
635
559067
645
203556
820
340722
1416
468737
Marine Hull
47
164438
40
76982
46
3011128
78
143410
Motor OD
9318
635854
16541
502582
19002
614260
18411
1014751
1082
4952051
1485
331738
3032
876490
6871
1124290
59
8513
65
17258
88
14714
117
121411
Motor DR Pool
212
959482
145
6450
274
28366
95
4602
Motor TP Pool
695
25472461
1549
371307
3061
795175
8606
2009343
Workmen Comp.
127
258056
105
24270
122
11768
209
36893
1017
380680
896
86805
796
71607
1040
136158
47405
40658
25605
7790
Engineering
716
433925
525
263025
603
639574
942
800932
Other Misc.
2124
300397
2487
256903
2480
296319
3157
577525
28
112190
26
33975
36
7566
63
40023
Health & Hosp.
155128
2231100
3104
436134
1872
436191
2140
413486
TOTAL
171367
37316805
27787
3353889
32461
9144713
43896
10345247
Motor TP Others
Personal Acc.
Aviation
Liabilities
240


(v)
(vi)
(vii)
g.
am{e
g.
am{e
577
2874852
106
1131
887886
112
629438
8143
g.
Hw$b
am{e
g.
am{e
658288
273
1671556
2815
12156864
106
307054
105
606880
4858
3373901
24
1422106
42
711779
389
6159281
615117
957
112394
351
30987
72723
3525946
24902
4128257
20387
2829605
74813
9773423
132572
24015854
196
37787
11
1813
42
48
578
201543
726
998899
32350
6855909
15989
2863100
934
190836
63184
38558129
340
68288
202
27645
234
27002
1339
453922
959
111586
69
35072
145
81758
4922
903666
81961
29
203419
817
2126503
86
281796
56
91916
3745
4637671
2336
656187
451
133908
1827
274510
14862
2495748
177
259071
97
256003
214
42578
641
751406
1737
140338
269
10576
169
13917
164419
3681741
73981
19467530
38869
8946407
79441
13543399
467802
102117988
(` 000)
(` 000)
than 3 years
(v)
(vi)
(vii)
No.
Amount
No.
Amount
No.
Total
Amount
No.
Amount
577
2874852
106
658288
273
1671556
2815
12156864
1131
887886
106
307054
105
606880
4858
3373901
112
629438
24
1422106
42
711779
389
6159281
8143
615117
957
112394
351
30987
72723
3525946
24902
4128257
20387
2829605
74813
9773423
132572
24015854
196
37787
11
1813
42
48
578
201543
726
998899
32350
6855909
15989
2863100
934
190836
63184
38558129
340
68288
202
27645
234
27002
1339
453922
959
111586
69
35072
145
81758
4922
903666
81961
29
203419
817
2126503
86
281796
56
91916
3745
4637671
2336
656187
451
133908
1827
274510
14862
2495748
177
259071
97
256003
214
42578
641
751406
1737
140338
269
10576
169
13917
164419
3681741
73981
19467530
38869
8946407
79441
13543399
467802
102117988
241

more than 1 year

{d^mJ
{bò eof
(i)
g.
(ii)
am{e
g.

(iii)
am{e
g.
(iv)
am{e
g.
am{e
ApZ
432
759513
488
1394164
412
1099618
655
2452913
g_wr Zm^ma
956
631291
567
216728
947
271307
1388
1227673
g_wr nmoV
45
304534
62
47214
27
157217
48
185105
14242
1079970.3
9244
493752
6212
461297
5400
423982
2269
3330164.2
2236
462745
2763
611164
5612
1161066
A` _moQ>a VVr` nj
682
135451
1895
313847
768
87409
1503
287866
_moQ>a VVr` nj nyb
3273
33233101
3403
866207
4299
1037477
8999
2042040
H$_H$ma {VH$ma
143
116128
107
20144
116
19842
190
36472
`pVJV XwKQ>Zm
951
332118
647
67911
643
70464
781
73092
34252
35626
1753
86555
BOr{Z`[aJ
642
405635
488
540663
501
578890
752
861225
A` {d{dY
2257
245140
3046
194988
2434
224727
2201
461267
22
62590
33
7226
41
95245
93
30650
7306
1918871
2365
417238
1493
366807
1901
150611
33222
42588758
24584
5078451
20658
5083218
29531
9480516
_moQ>a {ZOr j{V

{d_mZZ
Xo`mm`|
dm` d AnVmbrH$aU
Hw$b




(i)
(ii)
(iii)
(iv)
Department
No.
No.
Amount
No.
Amount
No.
Amount
Fire
432
759513
488
1394164
412
1099618
655
2452913
Marine Cargo
956
631291
567
216728
947
271307
1388
1227673
45
304534
62
47214
27
157217
48
185105
14242
1079970.3
9244
493752
6212
461297
5400
423982
2269
3330164.2
2236
462745
2763
611164
5612
1161066
Marine Hull
Amount
Motor OD
Motor TP Others
682
135451
1895
313847
768
87409
1503
287866
3273
33233101
3403
866207
4299
1037477
8999
2042040
Workmen Comp.
143
116128
107
20144
116
19842
190
36472
Personal Acc.
951
332118
647
67911
643
70464
781
73092
34252
35626
1753
86555
Engineering
642
405635
488
540663
501
578890
752
861225
Other Misc.
2257
245140
3046
194988
2434
224727
2201
461267
22
62590
33
7226
41
95245
93
30650
7306
1918871
2365
417238
1493
366807
1901
150611
33222
42588758
24584
5078451
20658
5083218
29531
9480516
Motor TP Pool
Aviation
Liabilities
Health & Hosp.
TOTAL
242


(v)
(vi)
(vii)
g.
am{e
g.
am{e
g.
Hw$b
am{e
g.
am{e
524
2454672
98
236237
277
1460675
2886
9857792
987
743317
142
72571
130
568892
5117
3731779
94
1664349
19
439355
50
312771
345
3110545
3488
276756
372
42733
245
27506
39203
2805995
20497
3082319
20223
3176197
45670
6292090
99270
18115744
2881
430697
3543
444006
5095
744684
16367
2443959
23178
4679631
6704
1277800
49856
43136255
396
63335
199
29622
217
23253
1368
308796
633
60001
131
29067
124
117596
3910
750249
2427
18
160613
684
1762225
79
125584
50
562324
3196
4836545
2268
498544
555
112897
2018
288963
14779
2026526
185
165050
125
15990
159
40691
658
417442
2200
89123
421
9712
123
13904
15809
2966265
58018
15972445
32611
6011771
54158
10453348
252782
94668505
(` 000)
(` 000)
than 3 years
(v)
(vi)
(vii)
No.
Amount
524
No.
Amount
2454672
98
987
743317
94
1664349
3488
20497
No.
Total
Amount
No.
Amount
236237
277
1460675
2886
9857792
142
72571
130
568892
5117
3731779
19
439355
50
312771
345
3110545
276756
372
42733
245
27506
39203
2805995
3082319
20223
3176197
45670
6292090
99270
18115744
2881
430697
3543
444006
5095
744684
16367
2443959
23178
4679631
6704
1277800
49856
43136255
396
63335
199
29622
217
23253
1368
308796
633
60001
131
29067
124
117596
3910
750249
2427
18
160613
684
1762225
79
125584
50
562324
3196
4836545
2268
498544
555
112897
2018
288963
14779
2026526
185
165050
125
15990
159
40691
658
417442
2200
89123
421
9712
123
13904
15809
2966265
58018
15972445
32611
6011771
54158
10453348
252782
94668505
243

more than 1 year
wZmBQ>oS> B{S>m Bya|g H$nZr {b{Q>oS>

nOrH$aU gm 545
31 mM 2016 H$mo nm{bgrYmaH$m| mam Ja Xmdm am{e H$m dfdma {dbofU H$m {ddaU
AZwgyMr 13 H$m AZwbZH$
(` 000)
dfdma {dbofU
{ddaU
Hw$b amer
1 go 6
hrZo
7 go 12
hrZo
13 go 18
hrZo
19 go 24
hrZo
{H$gr H$maUde nm{bgrYmaH$m| ~rmYmaH$m|

H$mo {Zn{Q>V Xmdo H$s amms AXm Zht H$s
Jr ~rmYmaH$m| nm{bgrYmaH$m| mam
XOdmX Ho$ VhV H$mo N>moS>H$a
e`
n[andVm m AV: na ~rmYmaH$m|

nm{bgrYmaH$m| H$mo Xo amer
e`
nm{bgr eVm] Ho$ AZwgma m m{YH$aU Ho$

{ZX}emZwgma nm{bgrYmaH$mo H$mo Am{Y
dgyb r{ H$a m A ^ma Omo Xo
h H$mo dmng Zht H$s Jr
411996
58435
43971
16741
22284
25 go 30
hrZo
31 go 36
hrZo
36 hrZo go
A[YH$
20054
23849
226662
dfdma {dbofU
{ddaU
1024918
4 go 12 hrZo
13 go 18
hrZo
19 go 24
hrZo
25 go 30
hrZo
31 go 36
hrZo
36 hrZo
go A[YH$
378939
111679
59024
65606
43896
365774
UNCLAIMED AMOUNT OF THE POLICY HOLDERS
nm{bgrYmaH$m| ~rmYmaH$m| mam Omar

MoH$ H$mo Om Zht {H$m Jm
Hw$b amms
244
STATEMENT SHOWING THE AGE WISE ANALYSIS OF THE

UNCLAIMED AMOUNT OF THE POLICYHOLDERS AS ON 31.03.2016
ANNEXURE TO SCHEDULE 13
(` 000)
Age-wise Analysis
Particulars
Total
Amount
1 to 6
months
7 to 12
Months
13 to 18
Months
19 to 24
Months
Claims settled but not paid to the

policyholders / insured due to any
reasons except under litigation from
the insured / policyholders
NIL
Sum due to the insured / policyholders

on maturity or otherwise
NIL
Any Excess collection of premium/

tax or any other charges which is
refundable to the policyholders either
as terms of conditions of the policy or
as per law or as may be directed by
the Authority but not refunded so far.
411996
Particulars
Total
Amount
58435
43971
16741
25 to 30
Months
22284
31 to 36
months
Beyond
36
months
20054
23849
226662
Age-wise Analysis
13 to 18
Months
19 to 24
Months
25 to 30
Months
31 to 36
Months
Beyond
36
Months
378939
111679
59024
65606
43896
365774
UNCLAIMED AMOUNT OF THE POLICY HOLDERS
Cheques issued but not encashed by

1024918
policy holders / insured
4 to 12 months
245
246
Central Finance & Accounts Team with Statutory Auditors
CONSOLIDATED FINANCIAL STATEMENTS AND

SCHEDULES FOR THE YEAR ENDED 31 MARCH 2016
247
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Ho$ ^mJrXmam| H$mo dV boIm narjH {VdoXZ
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h) H$r boImnarjm H$s h&
boImnarjm Eogr n{V h Omo {dVr` {ddaU _| am{e VWm H$Q>Z

g~pYV boImnarjm _mm XmZ H$aVr h& M`{ZV n{V boImnarjH$
Ho$ {ZU` na {Zâ h {Og_| go{H$V {dVr` {ddaU Ho$ JbV {ddaU Ho$
Omo{I_m| H$m AmH$bZ Mmho YmoImKS>r `m w[Q> hmo gp_{bV h& boImnarjm
_| `wV boIm Zr{V Ho$ _y`mH$Z H$s Cn`wVVm Ama {Z`H$ H$nZr
Ho$ {ZXoeH$ S>b mam {H$ò Jò boIm AZwmZ H$s C{MVVm VWm go{H$V
{dVr` {ddaU H$s g_V Vw{V H$m _y` ^r gp_{bV h&
CONSOLIDATED FINANCIAL STATEMENTS

go{H$V {dVr` {ddaU hoVw ~YZ H$m Xm{`d

{Z`H$ H$nZr Ho$ {ZXoeH$ S>b H$nZr A{Y{Z` 2013 (AmJo
A{Y{Z` Ho$ $n o gX{^V h) Ho$ g~Y o go{H$V {dmr` {ddaU
Omo H$nZr (boIm) {Z` 2014 Ho$ {Z` 7 Ho$ gmW n{R>V A{Y{Z`
CnYmam 133 o {ZYm[aV boIm Zr{V Ho$ AZwgma Jwn Ama g~Y H$n{Z`m|
Ho$ go{H$V {dmr` pW{V, go{H$V {dmr` {ZnmXZ Ama go{H$V Ho$e
bmo Ogo go{H$V {dmr` {ddaU V`ma H$aZo Ho$ {bò ~YZ {OoXma h&
A{Y{Z` Ho$ mdYmZ Ho$ AZwgma n`m boIm A{^boImo Ho$ aIaImd Ho$
Jwn H$s n[agn{m`mo H$s gwajm VWm A` YmoIm YS>r Ed A{Z`VVmAm|
H$mo nhMmZo Ama amoH$Zo hoVw C{MV boIm Zr{V`m| H$m M`Z d `moJ C{MV
d {ddoH$ nyU {ZU` boZm VWm n`m AmV[aH$ {dmr` {ZÙ H$m {S>OmBZ
H$m`md`Z Ama aIaImd Omo ^mdr $n go n[aMm{bV Wr Ama boIm
A{^boImo {H$ gQ>rH$Vm H$mo gw{Z{V H$aZo hoVw {dVr` {ddaU H$s V`mar
Ama VwVrH$aU Omo C{MV Ed {Znj V aIVo hE YmoImYS>r `m w{Q> go
JbV H$Q>Z Z H$aVr hmo VWm Omo Cnamo$ H${WVmZwgma {Z`{V H$nZr
Ho$ {ZXoeH$m| mam go{H$V {dVr` {ddaU H$s V`mar hoVw m`moOZ H$s JB
hmo Bg g~Y | Jwn Ed g~ H$nZr | g{bV g~pYV {ZXoeH$
S>b {OoXma h&
h_| {ddmg h {H$ h_| mV boImnarjm _mU Ama A` mbm| go

g~pYV AZwN>oX (A) o g{bV {d{^ boIm narjH$mo go m
boImnarjm mU n`mV h Ed go{H$V {dVr {ddaU h_mar boImnarjm
hoVw C{MV AmYma XmZ HaVr h&
boImnarjH$m| H$m Xm{`d
boIm mZH$ (E.Eg) 15, H$Mmar bm^ Ho$ mdYmZm| Ho$ {bò ^maVr`
~rm {Z`mH$ Ed {dH$mg m{YH$aU mam Omar n[an g`m IRDA/
F&A/CIR/ACTS/077/04/2016 {XZmH$ 18 Ab 2016 Ed n
g. IRDA/F&A/LR/001/2016 {XZmH$ 19 Ab 2016 | Xr
JB Ny>Q> Ho$ AZwgma {dmr` {ddaU Ho$ ZmoQ> g.17, | ` 2050000
(` 000) Ho$ n|eZ Ama CnXmZ Xm{`d Ho$ AmWJZ H$m CoI h&
_V`
h_mao _V` _| Ama h_| m OmZH$mar VWm h_| {Xò Jò nQ>rH$aU Ho$
AZwgma go{H$V {dVr` {ddaU CgrH$ma H$r OmZH$mar XmZ H$aVo h
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31 mM 2016 H$mo go{H$V Jwn mbm| Ama CZHo$ g~ H$n{Z`m
31 mM 2016 H$mo gm df hoVw go{H$V amOd ImVo H$s H$r VWm
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boIm n{V Ho$ AZw$n {ZZ {bpIV Ho$ g~Y o EH$ ghr Ed {Znj
AdbmoH$Z VwV H$aVm h&
{df` H$m _hd
h_ {ZZ{b{IV {df` Ho$ {dVr` {ddaU na AmnH$m `mZ AmH${fV
H$aVo h :
h_mao boImnarjm Ho$ AmYmana BZ go{H$V {dVr` {ddaUm| na AnZm _V

H$Q> H$aZm h_mam Xm{`d h &
h_Zo H$nZr A{Y{Z`_ Ho$ mdYmZ boIm Ama boImnarjm _mZH$ Ama
_m_bo H$nZr A{Y{Z`_ Ed CgHo$ CnamV {Z`_m| Ho$ mdYmZm| Ho$ AYrZ
gp_{bV boImnarjm [anmoQ> H$mo {bm Jm h &
248
Report on the Consolidated Financial Statements
specified under Section 143(10) of the Act. Those Standards require that
we comply with ethical requirements and plan and perform the audit to
obtain reasonable assurance about whether the consolidated financial
statements are free from material misstatement.
We have audited the accompanying consolidated financial statements

of United India Insurance Company Limited (hereinafter referred to
as the Holding Company) and its subsidiary (the Holding Company
and its subsidiary together referred to as the Group) and associates,
comprising of the Consolidated Balance Sheet as at 31st March, 2016,
the Consolidated Fire, Marine and Miscellaneous Revenue Accounts, the
Consolidated Profit and Loss, the Consolidated Cash Flow Statement
for the year then ended, and a summary of the significant accounting
policies and other explanatory information (hereinafter referred to as the
consolidated financial statements)
An audit involves performing procedures to obtain audit evidence about

the amounts and the disclosures in the consolidated financial statements.
The procedures selected depend on the auditors judgment, including the
assessment of the risks of material misstatement of the consolidated
financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal financial control relevant to the
Holding Companys preparation of the consolidated financial statements
that give a true and fair view in order to design audit procedures that are
appropriate in the circumstances. An audit also includes evaluating the
appropriateness of the accounting policies used and the reasonableness
of the accounting estimates made by the Holding Companys Board of
Directors, as well as evaluating the overall presentation of the consolidated
Managements Responsibility for the Consolidated Financial Statements

The Holding Companys Board of Directors is responsible for the preparation
of these consolidated financial statements in terms of the requirements
of the Companies Act, 2013 (hereinafter referred to as the Act)that give
a true and fair view of the consolidated financial position, consolidated
financial performance and consolidated cash flows of the Group including
its Associates in accordance with the accounting principles generally
accepted in India, including the Accounting Standards specified under
Section 133 of the Act, read with Rule 7 of the Companies (Accounts)
Rules, 2014. The respective Board of Directors of the companies included
in the Group and of its associates are responsible for maintenance of
adequate accounting records in accordance with the provisions of the Act
for safeguarding the assets of the Group and for preventing and detecting
frauds and other irregularities; the selection and application of appropriate
accounting policies; making judgments and estimates that are reasonable
and prudent; and the design, implementation and maintenance of
adequate internal financial controls, that were operating effectively for
ensuring the accuracy and completeness of the accounting records,
relevant to the preparation and presentation of the financial statements
that give a true and fair view and are free from material misstatement,
whether due to fraud or error, which have been used for the purpose of
preparation of the consolidated financial statements by the Directors of
the Holding Company, as aforesaid.
We believe that the audit evidence obtained by us and the audit evidence
obtained by the other auditors in terms of their reports referred to in subparagraph (a) of the Other Matters paragraph below, is sufficient and
appropriate to provide a basis for our audit opinion on the consolidated
Opinion
In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid consolidated financial statements
give the information required by the Act in the manner so required and give
a true and fair view in conformity with the accounting principles generally
accepted in India, of the consolidated state of affairs of the Group and its
associates as at 31st March, 2016, Consolidated Revenue Accounts of the
Deficit for the year ended March 31 2016 and their consolidated profit and
their consolidated cash flows for the year ended on that date.
Emphasis of Matters
We draw attention to the following matters in the notes to the Financial
Statements. Note no.17 to the financial statements, which describes
deferment of pension and gratuity liability of the company to the extent
of ` 205,00,00 (thousand) pursuant to the exemption granted by the
Insurance Regulatory and Development Authority of India from application
of the provisions of Accounting Standard (AS) 15, Employee Benefits vide
its circular No: IRDA/F&A/CIR/ACTS/077/04/2016 dated 18-April-2016
and Letter No. IRDA/F&A/LR/001/2016 dated 19.04.2016.
Our responsibility is to express an opinion on these consolidated financial
statements based on our audit. While conducting the audit, we have
taken into account the provisions of the Act, the accounting and auditing
standards and matters which are required to be included in the audit
report under the provisions of the Act and the Rules made there under.
We conducted our audit in accordance with the Standards on Auditing
249

TO THE MEMBERS OF UNITED INDIA INSURANCE COMPANY LIMITED


J.
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hm{Z Zhr h&
iii.
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H$nZr Ama g~ H$nZr mam {ZdoeH$ {ejm
Ed gwajm {Z{Y H$mo AV[aV H$aZo Ho$ {bò H$moB
am{e H$s Amd`H$Vm Zhr h &
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gZXr boImH$ma
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gZXr boImH$ma
E\$AmaEZ 02510Eg

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grE EZ. a_Ur

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gX`Vm g . 022438
WmZ: Mo
{XZmH$ : 13 _B, 2016
250
c) The Consolidated Balance Sheet, the Consolidated

Revenue accounts, the Consolidated Profit and Loss, and
the Consolidated Cash Flow Statement dealt with by this
Report are in agreement with the relevant books of account
maintained for the purpose of preparation of the
consolidated financial statements.
Our opinion is not modified in respect of above matter.

Other Matters
(a) We did not audit the financial statements/financial information of a
subsidiary, whose financial statements/financial information reflect total
assets of ` 166114 (` 000s)as at 31st March, 2016, total revenues of
`10176 (` 000s) and net cash flows amounting to ` 4044 (` 000s) for
the year ended on that date, as considered in the consolidated financial
statements. The consolidated financial statements also include the Groups
share of net profit of ` 293969 (` 000s) for the year ended 31st March,
2016, as considered in the consolidated financial statements, in respect
of two associates, whose financial statements/financial information have
not been audited by us. These financial statements/financial information
have been audited by other auditors whose reports have been furnished
to us by the Management and our opinion on the consolidated financial
statements, in so far as it relates to the amounts and disclosures included
in respect of these subsidiary and associates and our report in terms
of sub-sections (3) of Section 143 of the Act, insofar as it relates to the
aforesaid subsidiaries and associates, is based solely on the reports of
the other auditors.
d) In our opinion, the aforesaid consolidated financial

statements comply with the Accounting Standards
specified under Section 133 of the Act, read with Rule 7 of
the Companies (Accounts) Rules, 2014.
e) With respect to the adequacy of the internal financial
controls over financial reporting of the Company and the
operating effectiveness of such controls, refer to our
separate Report in Annexure A.
g) With respect to the other matters to be included in the

Auditors Report in accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2014, in our opinion
and to the best of our information and according to the
explanations given to us:
Report on Other Legal and Regulatory requirements
i.
As required by Section 143 (3) of the Companies Act,

we report that:
a) We have sought and obtained all the information and
explanations which to the best of our knowledge and belief
were necessary for the purposes of our audit of the
aforesaid consolidated financial statements
b)
The consolidated financial statements disclose the impact

of pending litigations on the consolidated financial position
of the Group and its associates Refer Note 2 to the
consolidated financial statements.
ii. The Group and its associates did not have any material
foreseeable losses on long-term contracts including
derivative contracts.
iii. There were no amounts which were required to be
transferred to the Investor Education and Protection Fund
by the Holding Company, and its subsidiary company and
associate company incorporated in India.
In our opinion, proper books of account as required by law

relating to preparation of the aforesaid consolidated
financial statements have been kept so far as it appears
from our examination of those books and the reports of the
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
Place: Chennai
251

f) The provisions of Section 164 (2) of the Companies Act are

not applicable to the directors of the Company in view of
Ministry of Corporate Affairs notification GSR 463 dated
5th June 2015;
Our opinion on the consolidated financial statements, and our report

on Other Legal and Regulatory Requirements below, is not modified in
respect of the above matters with respect to our reliance on the work done
and the reports of the other auditors.
A.
other auditors.
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Am Vma na drH$V boImH$Z {gmVm| Ho$ AZwgma ~mhar `moOZm| Ho$
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h & EH$ H$nZr H$s {dmr` [anmo{Q>J hoVw AmV[aH$ {dmr` {ZÙ Umbr
boIm narjH$m| H$s {OoXmar
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H$Q> H$am hmam Xm{`d h & hmam Xm{`d AmB.gr.E.AmB Ama H$nZr
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252
Report on the Internal Financial Controls under

Clause (i) of Sub-section 3 of Section 143 of the
Companies Act, 2013 (the Act)
of Chartered Accountants of India. Those Standards and the

Guidance Note require that we comply with ethical requirements
about whether adequate internal financial controls over financial
reporting was established and maintained and if such controls
operated effectively in all material respects.
In conjunction with our audit of the consolidated financial

statements of United India Insurance Company Limited (the
Company) as of March 31, 2016. We have audited the internal
financial controls over financial reporting of United India
Insurance Company Limited (hereinafter referred to as the
Holding Company) its subsidiary company and its associate
company, which are companies incorporated in India, as of that
date.
for
Our audit involves performing procedures to obtain audit evidence

about the adequacy of the internal financial controls system over
financial reporting and their operating effectiveness. Our audit
of internal financial controls over financial reporting included
obtaining an understanding of internal financial controls over
financial reporting, assessing the risk that a material weakness
exists, and testing and evaluating the design and operating
effectiveness of internal control based on the assessed risk. The
procedures selected depend on the auditors judgment, including
the assessment of the risks of material misstatement of the
financial statements, whether due to fraud or error.
Internal
The respective Board of Directors of the of the Holding company,

its subsidiary company and its associate company, which are
companies incorporated in India, are responsible for establishing
and maintaining internal financial controls based on the
internal control over financial reporting criteria established by
the Company considering the essential components of internal
Chartered Accountants of India. These responsibilities include the
design, implementation and maintenance of adequate internal
financial controls that were operating effectively for ensuring
the orderly and efficient conduct of its business, including
adherence to companys policies, the safeguarding of its assets,
the prevention and detection of frauds and errors, the accuracy
and completeness of the accounting records, and the timely
preparation of reliable financial information, as required under
the Companies Act, 2013.

Companys internal financial controls system over financial
reporting.
Meaning of Internal
Financial Reporting
Financial
Controls
Over
A companys internal financial control over financial reporting is a

process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with generally
accepted accounting principles. A companys internal financial
control over financial reporting includes those policies and
procedures that (1) pertain to the maintenance of records that, in
reasonable detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (2) provide reasonable
assurance that transactions are recorded as necessary to
permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and
expenditures of the company are being made only in accordance
with authorization of management and directors of the company;
and (3) provide reasonable assurance regarding prevention or
timely detection of unauthorized acquisition, use, or disposition
of the companys assets that could have a material effect on the
Our responsibility is to express an opinion on the Companys
internal financial controls over financial reporting based on our
audit. We conducted our audit in accordance with the Guidance
Note on Audit of Internal Financial Controls Over Financial
Reporting (the Guidance Note) and the Standards on Auditing,
issued by ICAI and deemed to be prescribed under section
143(10) of the Companies Act, 2013, to the extent applicable to
an audit of internal financial controls, both applicable to an audit
of Internal Financial Controls and, both issued by the Institute
253

Managements
Responsibility
Financial Controls
ANNEXURE A TO THE INDEPENDENT AUDITORS REPORT OF EVEN DATE ON THE

CONSOLIDATED FINANCIAL STATEMENTS OF UNITED INDIA INSURANCE COMPANY LIMITED

{dmr` [anmo{Q>J hoVw AmV[aH$ {dmr` {ZÙ Umbr H$s grmE

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am`
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boIm narjH$m| Ho$ [anmoQ> na AmYm[aV h g~XV H$nZr H$s {dmrJ`
[anmo{Q>J na AmV[aH$ {dmr` {ZÙ H$s n`moVm Ed ^mdr MmbZ
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E\$AmaEZ 000511Eg
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E\$AmaEZ 02510Eg

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WmZ: Mo
{XZmH$ : 13 _B, 2016
254
effectively as at March 31, 2016, based on the internal control

over financial reporting criteria established by the Company
considering the essential components of internal control stated
in the Guidance Note on Audit of Internal Financial Controls
Over Financial Reporting issued by the Institute of Chartered
Accountants of India.
Because of the inherent limitations of internal financial controls

over financial reporting, including the possibility of collusion
or improper management override of controls, material
misstatements due to error or fraud may occur and not be
detected. Also, projections of any evaluation of the internal
financial controls over financial reporting to future periods are
subject to the risk that the internal financial control over financial
reporting may become inadequate because of changes in
conditions, or that the degree of compliance with the policies or
procedures may deteriorate.
Other Matters
Inherent Limitations of Internal Financial Controls Over

Financial Reporting
Opinion
In our opinion, the Holding Company, its subsidiary company
and its associate company, which are companies incorporated
in India, have, in all material respects, an adequate internal
financial controls system over financial reporting and such
internal financial controls over financial reporting were operating
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
Place: Chennai
255

Our aforesaid reports under Section 143(3)(i) of the Act on the

adequacy and operating effectiveness of the internal financial
controls over financial reporting insofar as it relates to one
subsidiary company and one associate company which are
companies incorporated in India, is based on the corresponding
reports of the auditors of such companies incorporated in
India. In respect of one foreign associate company adequacy
and operating effectiveness of Internal Financial controls over
Financial Reporting is not being reported since reporting under
section 143 (3)(i) is not applicable.

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(Or gwYma{_Zr)
YmZ {ZXoeH$,dm{U{`H$ boIm narjm

VWm nXoZ gX`,boIm narjm ~moS,>Mo
WmZ Mo 600 034

{XZmH$ 20 OyZ 2016
256
of United India Insurance Company Limited, for the year ended 31
Insurance Company Limited for the year ended 31 March 2016
March 2016. We conducted a supplementary audit of the financial
in accordance with the financial reporting framework prescribed
statements of United India Insurance Company Limited, Zenith
under the Insurance Act, 1938, read with the Insurance Regulatory
Securities and Investments Limited and Health Insurance TPA of
& Development Authority (Preparation of Financial Statements and
India Limited for the year ended on that date. Further, Section 139(5)
Auditors Report of Insurance Companies) Regulations, 2002 and the
and 143(6) (a) of the Act are not applicable to India International
Companies Act, 2013 (Act) is the responsibility of the management
Insurance Pte Ltd., Singapore, being a private entity incorporated in
of the Company. The statutory auditors appointed by the Comptroller
Foreign Country under the respective laws, for appointment of their
and Auditor General of India under Section 139(5) read with Section
Statutory Auditor nor for conduct supplementary audit. Accordingly,
129(4) of the Act are responsible for expressing opinion on the
C&AG has neither appointed the Statutory Auditors nor conducted
financial statements under Section 143 read with Section 129(4) of
the supplementary audit of this company. This supplementary audit
the Act based on independent audit in accordance with the standards
has been carried out independently without access to the working
on auditing prescribed under Section 143(10) of the Act. This is
papers of the statutory auditors and is limited primarily to inquiries
stated to have been done by them vide their Audit Report dated
of the Statutory Auditors and Company personnel and a selective
13 May 2016.
examination of some of the accounting records.
I, on behalf of the Comptroller and Auditor General of India, have
On the basis of my audit, nothing significant has come to my
conducted a supplementary audit under Section 143(6)(a) read with
knowledge which would give rise to any comment upon or
Section 129(4) of the Act of the consolidated financial statements
supplement to Statutory Auditorsreport.
For and on behalf of the

Comptroller & Auditor General of India,
(G. SUDHARMINI)
PRINCIPAL DIRECTOR OF COMMERCIAL AUDIT
AND EX-OFFICIO MEMBER AUDIT BOARD, CHENNAI
Place : Chennai
Date : 20 June 2016.
257
The preparation of consolidated financial statements of United India

COMMENTS OF THE COMPTROLLER & AUDITOR GENERAL OF INDIA UNDER SECTION 143(6)(b) READ WITH SECTION 129(4
OF THE COMPANIES ACT, 2013 ON THE CONSOLIDATED FINANCIAL STATEMENTS OF UNITED INDIA INSURANCE COMPANY
LIMITED, CHENNAI, FOR THE YEAR ENDED 31 MARCH 2016.
nOrH aU g`m : 545 / Registration No.: 545
g_o{H V ApZ ~r_m amOd ImVm31_mM 2016 H$mo g_m df Ho$ {bE
CONSOLIDATED FIRE INSURANCE REVENUE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2016
{ddaU / Particulars
AZwgyMr / Schedule
A{OV r{_`_ (ew)
362098
(3563)
(347)
(857)
1526723
1448385
10047381
9870085
5875403
6065130
680466
577260
3363338
3294699
1777
1903
7364
11342
20941
35067
3996
9125
66804
(40131)
10020089
9954395
27292
(84310)
27292
(84310)
[d{Z_` go hm{Z /bm^
Commission (Net)
A`/ Others
{Zdom go g~{YV IM


(` 000)
614162
H$_reZ (ew)
(` 000)
Year
8064022
JV df / Previous
Year
7906843

CnJV Xmdo (ew)
Mmby df/Current

Equities

258
27292
(84310)
incurred whether directly or indirectly in respect of Fire Insurance Business have been fully debited in the Fire Insurance Revenue account as expenses.
~r_m A{Y{Z`_ 1938 H$s Ymam 40 gr (2) Ho$ AZwgma h_ EVXmam _m{UV H$aVo h {H$ h_mar gdm}V_ OmZH$mar Ama {ddmg Ho$ AZwgma ApZ ~r_m H$mamo~ma _|,
Mmho `j `m namoj $n go, H$ht ^r {H$E JE CnJV IM g^r A{Z ~r_m amOd ImVo _| IM Ho$ $n _| nyUV {dH${bV {H$ò Jò h &
{_{bX IamV
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm
Alok Tandon
A V Girija Kumar
A Hoda
MILIND KHARAT
{ZXoeH$JU
A`j-gh-~Y {ZXoeH
dr.B.H$_b
V E KAIMAL
DIRECTORS
{dVr` gbmhH$ma
FINANCIAL ADVISOR
Eg. d|H$Q>am_Z
S VENKATARAMAN
H$nZr g{Md
COMPANY SECRETARY
H$Vo _hmamO EZ.Ama. gwaoe ES >H$nZr
gZXr boImH$ma
gZXr boImH$ma
E\$AmaEZ 01931Eg
E\$AmaEZ 02510Eg
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
WmZ: Mo
{XZmH$ : 13 _B, 2016
Place: Chennai
259

H$Vo ~h``m ES >H$nZr

gZXr boImH$ma
E\$AmaEZ 000511Eg
g_o{H V g_wr ~r_m amOd ImVm 31_mM 2016 H$mo g_m df Ho$ {bE
CONSOLIDATED MARINE INSURANCE REVENUE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2016
{ddaU / Particulars
AZwgyMr / Schedule
A{OV r{_`_ (ew)
164643
(1078)
(78)
447008
430840
3612866
3639796
2065571
2586531
226963
291512
804108
1000958
805
865
3336
5157
9488
15945
1811
4149
30269
(18247)
3142351
3886870
470515
(247074)
470515
(247074)
[d{Z_` go hm{Z /bm^
Commission (Net)
A`/ Others
{Zdom go g~{YV IM


(` 000)
278277
H$_reZ (ew)
(` 000)
Year
3045389
JV df / Previous
Year
2887659

CnJV Xmdo (ew)
Mmby df/Current

Equities

260
470515
(247074)
~r_m A{Y{Z`_ 1938 H$s Ymam 40 gr (2) Ho$ AZwgma h_ EVXmam _m{UV H$aVo h {H$ h_mar gdm}V_ OmZH$mar Ama {ddmg Ho$ AZwgma g_wr ~r_m H$mamo~ma _|,
Mmho `j `m namoj $n go, H$ht ^r {H$E JECnJV IM , g^r g_wr ~r_m amOd ImVo _| IM Ho$ $n _| nyUV {dH${bV {H$ò Jò h&
As required by Section 40C(2) of Insurance Act 1938, we hereby certify that to the best of our knowledge and belief, all expenses wherever incurred
whether directly or indirectly in respect of Marine Insurance Business have been fully debited in the Marine Insurance Revenue account as expenses.
{_{bX IamV
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm
Alok Tandon
A V Girija Kumar
A Hoda
MILIND KHARAT
{ZXoeH$JU
A`j-gh-~Y {ZXoeH
dr.B.H$_b
V E KAIMAL
DIRECTORS
{dVr` gbmhH$ma
FINANCIAL ADVISOR
Eg. d|H$Q>am_Z
S VENKATARAMAN
H$nZr g{Md
COMPANY SECRETARY
gZXr boImH$ma
gZXr boImH$ma
E\$AmaEZ 01931Eg
E\$AmaEZ 02510Eg
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
WmZ: Mo
{XZmH$ : 13 _B, 2016
Place: Chennai
261


gZXr boImH$ma
E\$AmaEZ 000511Eg
g_o{H V {d{dY ~r_m amOd ImVm 31_mM 2016 H$mo g_m df Ho$ {bE
CONSOLIDATED MISCELLANEOUS INSURANCE REVENUE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2016
{ddaU / Particulars
AZwgyMr / Schedule
A{OV r{_`_ (ew)
3516787
(23886)
13345
11479
9716534
9263303
105212889
89820561
80069948
65778618
4226089
4444155
25073213
22190048
17502
18484
72523
110159
206250
340584
39358
88620
657954
(389767)
110362837
92580901
(5149948)
(2760340)
(5149948)
(2760340)
WmZmVaU ewH Am{X

Transfer fees, etc.
Commission (Net)
A`/ Others
{Zdom go g~{YV IM


(` 000)
6048857
H$_reZ (ew)
(` 000)
Year
77052878
JV df / Previous
Year
89434153

CnJV Xmdo (ew)
Mmby df/Current

Equities

262
(5149948)
(2760340)
~r_m A{Y{Z`_ 1938 H$s Ymam 40 gr (2) Ho$ AZwgma h_ EVXmam _m{UV H$aVo h {H$ h_mar gdm}V_ OmZH$mar Ama {ddmg Ho$ AZwgma [d[dY ~r_m
H$mamo~ma _|, Mmho `j `m namoj $n go, H$ht ^r {H$E JECnJV IM , g^r [d[dY ~r_m amOd ImVo _| IM Ho$ $n _| nyUV {dH${bV {H$ò Jò h&
incurred whether directly or indirectly in respect of Miscellanous Insurance Business have been fully debited in the Miscellanous Insurance
Revenue account as expenses.
{_{bX IamV
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm
Alok Tandon
A V Girija Kumar
A Hoda
MILIND KHARAT
{ZXoeH$JU
A`j-gh-~Y {ZXoeH
dr.B.H$_b
V E KAIMAL
DIRECTORS
{dVr` gbmhH$ma
FINANCIAL ADVISOR
Eg. d|H$Q>am_Z
S VENKATARAMAN
H$nZr g{Md
COMPANY SECRETARY
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
WmZ: Mo
{XZmH$ : 13 _B, 2016
Place: Chennai
263


gZXr boImH$ma
E\$AmaEZ 000511Eg
gZXr boImH$ma
gZXr boImH$ma
E\$AmaEZ 01931Eg
E\$AmaEZ 02510Eg
g_o{H V bm^ Ama hm{Z ImVm 31_mM 2016 H$mo g_m df Ho$ {bE
CONSOLIDATED PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2016
{ddaU / Particulars
AZwgyMr / Schedule
Mmby df/Current
JV df / Previous
(` 000)
(` 000)
Year
Year
MmbZ bm^ / (hm{Z )
OPERATING PROFIT /(LOSS)

27292
(84310)
470515
(247074)
(5149948)
(2760340)
`mO,bm^me d {H$am`m - gH$b
4506992
4490946
{Zdoe H$s {~H$s na bm^
2825190
1780603
192
1032
213377
215734
133359
3108961
3312176
g{H$` $n go Z `mnm[aV gm`me Ho$ Ad_y`Z hoVw
307284
(213630)
gpXY G$Um| hoVw
125136
43171
6000
500
9605
9905
{Zdoe r{_`_ na n[aemoYZ
33844
53664
m{gV {Zdoe go g~{YV ~Q>Q>o ImVo _| S>mbr J`r am{e`m
96250
165916

H$a Ho$ nyd bm^ (B) = (A - Am)
578119
59526
2530842
3252649
ApZ ~r_m / Fire Insurance

g_wr ~r_m / Marine Insurance
{d{dY ~r_m
Miscellaneous Insurance
{Zdoe go Am`
INCOME FROM INVESTMENTS

Interest, Dividend & Rent - Gross
Profit on sale of investments
KQ>mE {Zdoem| H$s {~H$s na hm{Z
Less: Loss on sale of investments
A` Am` /OTHER INCOME

~QQo ImVo _o Smbm J`m {d{dY eof / Sundry Balance written off
n[agnpV`m| H$s {~H$s na bm^ / hm{Z VWm A` Am`
Profit/Loss on sale of assets and other incomes

mdYmZ (H$a Ho$ Abmdm)
PROVISIONS (Other than taxation)

For diminution in the value of investments

For doubtful debts
A` / OTHERS
A` IM/ OTHER EXPENSES
Ja ~r_m H$mamo~ma go g~{YV IM
Expenses other than those related to Insurance Business
~Q>Q>o ImVo _| S>mbm J`m Aemo` G$U

Bad Debts written off

Profit Before Tax (C ) = (A - B)

264
and Share of Profit of Associates (D )
351100
193900
(300)
(12500)
2095
5346
2177947
3065901
293969
325939
2538
22230
2469378
3369610
1979
671600
610000
136712
121789
1700
14100
1659366
2625699
16.46
22.46
H$a Ho$ {bò mdYmZ / Provision for Taxation

KQmE: E_ E Qr Ho${SQ / Less: MAT Credit
W{JV H$a / Deferred tax
JV dfm] go g~{YV H$a / Taxation relating to earlier years
H$a Ho$ ~mX bm^ bo{H$Z _mBZm{aQr {hV Ama g~ H$nZr Ho$ bm^ Ho$
Ae Ho$ nyd (Sr) /Profit after Taxation but before Minority Interest
Add: Share of Profit / (Loss) of Associates
KQmE: Ang`H `mO / Less: Share of Minority Interest

H$a Ho$ ~mX bm^ / (hm{Z), Ang`H `mO Ama g~ Ho$ bm^
H meoà /Net Profit / (Loss) after Taxation, Minority Interest and
Share of Profit of Associates
{d{Z`moOZ / APPROPRIATIONS
JV df go AJ{o fV A{Yeof/Brought forward Surplus from Previous year
Vm{dV A{V_ bm^mm / Proposed final dividend
bm^mm {dVaU H$a / Dividend distribution tax
g{d{YH$ Ama{j{V H$mo AV[aV / Transferred to Statutory Reserve
gm_m` Ama{j{V H$mo AV[aV / Transferred to General Reserve
VwbZ n H$mo AV[aV eof /
Balance carried forward to Balance Sheet
_yb Ama VabrH$V {V eoà go Am` (`.)

Basic and Diluted Earning per share
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm
{ZXoeH$JU
Alok Tandon
A V Girija Kumar
A Hoda
DIRECTORS

gZXr boImH$ma
E\$AmaEZ 000511Eg
gZXr boImH$ma
gZXr boImH$ma
E\$AmaEZ 02510Eg
E\$AmaEZ 01931Eg
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner

{XZmH$ / Date: 13 _B, 2016 / 13th May, 2016
265
CA N Ramani
Partner

OmoS>|: bm^ / g~ (hm{Z) H meoà
g_o{H V 31_mM2016 Ho$ {XZ na H$m VwbZ n
CONSOLIDATED BALANCE SHEET AS AT 31ST MARCH 2016
{ddaU / Particulars
AZwgyMr / Schedule
Mmby df/Current
JV df / Previous
(` 000)
(` 000)
Year
Year
{Z{Y H$m moV
SOURCES OF FUNDS
moà nyOr
1500000
1500000
59418196
57462775
42015318
59417697
46396
44444
10
10
102979920
118424926
SHARE CAPITAL
RESERVES AND SURPLUS
ghr _y` n[adVZ ImVm
FAIR VALUE CHANGE ACCOUNT
G$U / BORROWINGS
Ang`H `mO / MINORITY INTEREST
W{JV H$a Xo`VmE / DEFERRED TAX LIABILITIES
Hw$b/TOTAL
{Z{Y`m| H$m Cn`moJ
{Zdom
236653306
245169821
G$m/LOANS
Wm`r n[agnpV`m
2894353
3115102
10
1443735
1404461
ZH$X Ama ~H$ eof
11
11942956
16176885
A{J_ Ama A` n[agnpV`m
12
31435597
25040396
43378553
41217280
13
120537839
116433684
14
60852188
56048053
181390027
172481738
(138011474)
(131264457)
APPLICATION OF FUNDS
INVESTMENTS
FIXED ASSETS
Mmby n[agnpV`m

CURRENT ASSETS
CASH AND BANK BALANCES
ADVANCES AND OTHER ASSETS
CnHw$b (A)
SUB TOTAL (A)
Mmby Xo`VmE
CURRENT LIABILITIES
mdYmZ
PROVISIONS
Cn Hw$b (Am )
SUB TOTAL (B)
ew Mmby n[agnpV`m (B) = (A-Am)

NET CURRENT ASSETS (C)=(A-B)
266
102979920
118424926
MISCELLANEOUS EXPENDITURE (to the extent not written off or

adjusted)
bm^ Ama hm{Z ImVo _| Zm_o eof
DEBIT BALANCE IN PROFIT AND LOSS ACCOUNT
Hw$b / TOTAL
15
{d{dY IM ({OZH$mo ~Q>Q>o ImVo _| Zht S>mbm J`m `m g_m`mo{OV Zht {H$`m J`m )
{_{bX IamV
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm
Alok Tandon
A V Girija Kumar
A Hoda
MILIND KHARAT
{ZXoeH$JU
A`j-gh-~Y {ZXoeH
dr.B.H$_b
V E KAIMAL
DIRECTORS
{dVr` gbmhH$ma
FINANCIAL ADVISOR
Eg. d|H$Q>am_Z
S VENKATARAMAN
H$nZr g{Md
COMPANY SECRETARY
gZXr boImH$ma
gZXr boImH$ma
E\$AmaEZ 01931Eg
E\$AmaEZ 02510Eg
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
WmZ: Mo
{XZmH$ : 13 _B, 2016
Place: Chennai
267


gZXr boImH$ma
E\$AmaEZ 000511Eg
31 _mM 2016 H mo AmH$p_H$ Xo`VmE / CONTINGENT LIABILITIES AS AT 31ST MARCH 2016

H$.g.
{ddaU /Particulars
Sl.No
Am{eH$ $n _| MwH$Vmeoà
(` 000)
Mmby df/Current Year JV df/Previous Year

800
800
2362032
734728
eof ~r_mboIZ A{^~YZ (eoà Ama G$U nm| Ho$ g~Y _|)
e`/NIL
e`/NIL
e`/NIL
e`/NIL
{ddmXnX dYm{ZH$ _mJ / Xo`Vmò {OgH$m mdYmZ Zht {H$`m J`m
4887659
4388708
ImVo _| nwZ~u_m Xo`VmAm| Ho$ {bò mdYmZ Zht {H$`m J`m h
e`/NIL
e`/NIL
A` ({ddaUmZwgma)
950
e`/NIL
On Partly paid Investments

Statutory demands / liabilities in dispute, not provided for


SCHEDULES FORMING PART OF FINANCIAL STATEMENTS
ZmoQ> 1 : Am H$a m{YH$mam| Zo AnZr Va na H$nZr H$mo Xo `.1716961 hOma `.1367556 hOma am{e gmmo{OV H$a {Xm h &
ZmoQ> 2 : {d{dY boZXmam| Ho$ | 1.2.2003 go Xo am{e `.205 hOma gp{bV h & H$mZ m{bH$ lr hmor ohVm Q>Q> Zo {ZVH$ H$nZr H$mo CZHo$
mam {bo Jo n[aga H$mo Imbr H$aZo hoVw Zm{Q>g Omar {H$m Jm Ama Chm|Zo H$mZ Imbr H$aZo hoVw N>moQ>o H$maUm| H$s AXmbV | wH$Xm Xma {H$m &
H${WV mbo | H$mZ m{bH$ Zo `. 110/- {V dJ w$Q> {V mh m CV Xa na Omo mZZr mmb mam {g{db {H$m g{hVm Ho$ AmXoe 20
{Z 12 (0.20 Ama 12 )Ho$ VhV OmM Ho$ ~mX C{MV gP AV[a amhV ^wJVmZ H$aZo H$m AZwamoY {H$m h &
{ZMbr AXmbV Zo {ZU Ho$ CnamV gyQ> n[aga Imbr H$aZo H$m AmXoe {Xm & N>moQ>o mbm| Ho$ AXmbV Ho$ gj Anrb H$aZo na {ZMbr AXmbV Ho$ {ZU
H$mo OwbmB 2008 | EH$ Va$ Wm{nV {H$m Jm & {$a ^r CgHo$ ~mX H$mZ m{bH$ Zo {ZU Ho$ {dX w~B C mmb | {g{db [a{dOZar
AmdoXZ VwV {H$m h Omo b{~V h &
N>moQ>o mbm| Ho$ AXmbV Zo ^r 0.20 Ama 12 Ho$ mZgo bm^ Ho$ g~Y | OmM H$aZo H$m AmXoe {Xm h Omo b{~V h & AV Bg {g{WV | mgo bm^
H$s JUZm Zhr H$s JB h Ama CgH$m {ddaU Zht {Xm Jm h &
Note 1: The Income Tax authorities have suo-moto adjusted the refund due to the company amounting to `1716961 thousands (`1367556 thousands).
Note 2: Sundry Creditors for Expenses includes ` 205 thousands amount payable since 01/02/2003. The landlord, Sir Homi Mehta Trust, had sent the
notice for the eviction of the premises occupied by the subsidiary Company and had also filed the suit in the Court of Small Causes mainly for the eviction.
In the said suit, the landlord, had prayed for the interim relief of `110/- per sq. feet per month or at such rates as the Hon. Court may deem fit after enquiry
under Order 20 Rule 12 (O. 20 R. 12) of the code of Civil Procedure.
The trial court decreed and ordered eviction from the suit premises. On appeal before the Small Causes Court the judgement of the trial court was set
aside in July 2008. However, thereafter landlord has filed a Civil Revisionary Application against the judgement in the Bombay High Court, which is pending.
The Small Causes Court has also ordered for an enquiry in terms of O. 20 R. 12 for manse profit, which is pending. In view of this the manse profit is not
quantifiable at this stage and not provided for the same.
268
SEGMENTAL FORMING PART OF FINANCIAL STATEMENTS
AZwgyMr - 1 - A{OV r{_`_ (ew) 31 _mM 2016 H$mo g_m Ad{Y Ho$ {bE
ApZ /Fire
Mmby df
JV df
{ddaU /Particulars
g_wr / Marine
Mmby df
JV df
{d{dY / Misc.
Mmby df
JV df
(` 000)
Hw$b / Total
Mmby df
JV df
{dmr` {ddaU _o g{_{bV AZwgy{M`m
Current Year Previous Year Current Year Previous Year Current Year Previous Year Current Year Previous Year
r{_`_/ PREMIUM FROM

`j H$mamo~ma
13113873
12514935
4382790
5267302
105006967
89135095
122503630
106917332
1294683
1041505
153185
207046
1211594
1395909
2659462
2644460
6172346
5958052
1830366
2510358
10014805
7833161
18017517
16301571
8236210
7598388
2705609
2963990
96203756
82697843
107145575
93260221
Ag_m Omo{I_m| Ho$

{bò {Z{Y _| n[adVZ hoVw
g_m`moOZ/ Adjustment
(329367)
465634
182050
81399
(6769603)
(5644965)
(6916920)
(5097932)
7906843
8064022
2887659
3045389
89434153
77052878
100228655
88162289
Direct Business

Add: Reinsurance accepted
KQ>mE A{nV nwZ~u_m Less:

Reinsurance Ceded
A{OV r{_`_ (ew)

Premium Earned (Net)
AZwgyMr - 2 - CnJV Xmdo (ew)31 _mM 2016 H$mo g_m Ad{Y Ho$ {bE
ApZ /Fire
{ddaU /Particulars
Mmby df
Current Year
AXm {H$ò Jò Xmdo /CLAIMS PAID

`j H$mamo~ma/ Direct Business
g_wr / Marine
JV df
Previous
Year
Mmby df
Current Year
JV df
Previous
Year
{d{dY / Misc.
Mmby df
Current Year
JV df
Previous
Year
(` 000)
Hw$b / Total
Mmby df
Current Year
JV df
Previous
Year
9204126
7682587
4057586
3276248
83367561
66114284
96629273
77073119
601988
446140
100244
95993
714994
1163900
1417226
1706033
5131454
3357864
2279483
1215082
8863550
5603460
16274487
10176406
4674660
4770863
1878347
2157159
75219005
61674724
81772012
68602746
24039777
17394821
7352513
7206167
110122775
96658762
141515065
121259750
OmoS >| drH$V nwZ~u_m/

Add: Reinsurance accepted
KQ>mEA{nV nwZ~u_m/Less: Reinsurance ceded

OmoS >| df H$s g_m{ na ~H$m`m Xmdo -`j /
Add: Claims Outstanding at the end of
the year - Direct
269

for change in reserve for

unexpired risks
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - drH$V

nwZ~u_m /Add: Claims Outstanding at the
993225
932733
372028
328125
1439732
1409135
2804985
2669993
15712639
10207935
3844292
3841267
28566410
19922742
48123341
33971944
9320363
8119619
3880249
3693025
82996097
78145155
96196709
89957799
17394822
17038935
7206167
7437856
96658762
87035672
121259751
111512463
932733
798599
328125
379944
1409135
1373053
2669993
2551596
10207935
11012182
3841267
4554147
19922743
14367464
33971945
29933793
Less: Claims outstanding at the

beginning of the year - Net
8119620
6825352
3693025
3263653
78145154
74041261
89957799
84130266
CnJV Xmd| (ew)/Claims Incurred (Net)
5875403
6065130
2065571
2586531
80069948
65778618
88010922
74430279
end of the year - RI Accepted
KQ>mE df H$s g_m{ na ~H$m`m Xmdo -A{nV

nwZ~u_m/ Less: Claims outstanding at the
end of the year - RI Ceded
OmoS >| df H$s g_m{ na ~H$m`m ew

Add: Claims Outstanding at the
end of the Year - Net
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo-`j

/Less: Outstanding claims at the
beginning of the year - Direct
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo- drH$V

nwZ~u_m /Less: Claims outstanding at the
beginning of the year - RI Accepted
OmoS >| df Ho$ Ama^ _| ~H$m`m Xmdo - A{nV

nwZ~u_m /Add: Claims outstanding at the
beginning of the year - RI Ceded
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo -ew/


{ddaU /Particulars
H$_reZ /COMMISSION
`j H$mamo~ma/ Direct Business
Hw$b (A)/ TOTAL (A)
OmoS>| drH$V nwZ~u_m na H$_reZ/
Add: Commission on Reinsurance Accepted
(` 000)
ApZ /Fire
Mmby df JV df
Current
Year
Previous
Year
g_wr / Marine
Mmby df JV df
{d{dY / Misc.
Mmby df JV df
Current
Year
Previous
Year
820142
881426
320423
393708
5164133
5258247 6304698 6533381
820142
881426
320423
393708
5164133
5258247 6304698 6533381
278337
148803
30423
26891
216017
418013
452969
123883
129087
1154061
Current
Year
Previous
Year
154849
Hw$b / Total
Mmby df JV df
Current
Year
524777
Previous
Year
330543
KQ>mE A{nV nwZ~u_m na H$_reZ/

Less: Commission on Reinsurance Ceded
968941 1695957 1550997
H$_rmZ (ew)/ Commission (Net)

680466 577260 226963 291512 4226089 4444155 5133518 5312927
`dgm` m H$aZo Ho$ {bE CnJV `` (gH$b) H$m {ddaU /Break-up of the expenses (Gross) incurred to procure business to be furnished
as per details indicated below:
EOooQ> / Agents
Xbmb/ Brokers
{ZJ_r` EOogr/ Corporate Agency
465439
440448
164830
215598
3183122
3306521 3813391 3962567
337221
287444
154634
160462
1884359
1083530 2376214 1531436
17482
153534
959
17648
96651
820142
881426
320423
393708
5164132
270
868196
115092 1039378
5258247 6304697 6533381
SCHEDULE - 4 - OPERATING EXPENSES RELATED TO INSURANCE BUSINESS FOR THE YEAR ENDED 31ST MARCH 2016
(` 000)
{ddaU /Particulars
ApZ /Fire
Mmby df JV df
Current
Year
Previous
Year
g_wr / Marine
Mmby df JV df
Current
Year
Previous
Year
{d{dY / Misc.
Mmby df
JV df
Current
Year
Hw$b / Total
Mmby df
JV df
Previous
Year
Current
Year
Previous
Year
AZwgyMr - 4 - ~r_m H$mamo~ma go g~{YV MmbZ IM 31 _mM 2016 H$mo g_m Ad{Y Ho$ {bE
H$_Mm[a`m| H$m doVZ Ama H$`mU {hV bm^ /
Employees' remuneration and Welfare benefits
2498430
2457746
591281
743817
18411411
16476149
21501122
19677712
79862
74379
18900
22510
588522
498621
687284
595510
8118
8402
1921
2542
59826
56323
69865
67267
Rents, rates & taxes
91185
105821
21580
32026
671962
709400
784727
847247
_a_V / Repairs
_wU Ama boIZ gm_Jr/ Printing and
26901
24388
6366
7381
198236
163492
231503
195261
Stationery
26598
27729
6295
8392
196006
185889
228899
222010
gMma / Communication
{d{Y Ama `dgm{`H$ ^ma / Legal and
33863
33755
8014
10216
249540
226288
291417
270259
9597
12660
2271
3832
70720
84871
82588
101363
A) boIm narjH$ Ho$ $n _| / (a) as auditor

Am) gbmhH$ma Ho$ $n _| `m {H$gr A` h{g`V _|
5098
4388
1207
1328
37565
29414
43870
35130
(b) as advisor or in any other capacity, in respect of
(i) H$a
`mm, n[adhZ Ama Mmby dmhZ IM/

Travel, conveyance and vehicle running expenses
{ejU IM / Training Expenses

{H$am`m, Xa| Ama H$a/
Professional charges
Auditors' fees, expenses etc.
g~{YV _m_bo / Taxation matters

(ii) ~r_m _m_bo / Insurance matters
(iii) ~YZ godmE VWm/ Management
services; and
218
305
52
92
1607
2045
1877
2442
33351
49337
7893
14931
245770
330745
287014
395013
7347
5531
1739
1674
54144
37077
63230
44282
307
73
2265
22
2645
26
58453
65631
13834
19862
430749
439974
503036
525467
133209
165024
31525
49944
981645
1106284
1146379
1321252
229510
108304
54316
33559
1691305
755432
1975131
897295
121291
151296
36841
48851
1181940
1088022
1340072
1288169
1000958 25073213
22190048
29240659
26485705
B) {H$gr A` h{g`V/ Any other capacity

{dkmnZ Ama OZ gMmaU/ Advertisement
and publicity
`mO Ama ~H$ ^ma/ Interest and Bank

Charges
r{_`_ ImVo na godm H$a/ Service Tax on

Premium A/c
_y`mg/ Depreciation
AmCQ>gmo{gJ IM / Outsourcing Expenses
`w_og IM/ Umex Expenses
A`/ Others
Hw$b / TOTAL
3363338 3294699 804108
271

boIm narjH$ Ho$ ewH$, IM Am{X/
AZwgyMr - 5 - 31 _mM 2016 H$mo eoà nyOr /

SCHEDULE - 5 - SHARE CAPITAL AS AT 31ST MARCH 2016
{ddaU/ Particulars
(` 000)
Mmby df/ Current
JV df /
Year
Previous Year
A{YH$V nyOr / Authorised Capital

200000000 gm`me
eoà òH$ .10/- H$m/
200000000 Equity Shares of Rs.10/- each
2000000
2000000
1500000
1500000
1500000
1500000
1500000
1500000
Add : Equity Shares forfeited (Amount orginally paid up)
KQ>mE g_ _y` gm`me eoàm| H$s dmngr IarX /Less: Par Value of Equity Shares bought back
KQ>mE ma{^H$ IM/
1500000
1500000
{ZJ{_V nyOr/ Issued Capital

gm`me eoà - òH$ . 10/- H$m (eoà r{_`_ ImVm Ama gm_m` Ama{j{V Ho$ nyO
rH$aU
go {ZJ{_V 14,63,74,857 gm`me eoà òH$ .10/- H$m ~moZg eoà Bg_| gp_{bV h )/
150000000
150000000 Equity Shares of Rs.10/- each (includes 14,63,74,857 Equity Shares of Rs.10/- each issued
as Bonus Shares by Capitalisation of General Reserve and Share Premium Account)
A{^XV nyOr / Subscribed Capital

150000000 gm`me
eoà - òH$ . 10/- H$m (eoà r{_`_ ImVm Ama gm_m` Ama{j{V Ho$ nyO
rH$aU
150000000 Equity Shares of Rs.10/- each (includes 14,63,74,857 Equity Shares of Rs.10/- each issued
as Bonus Shares by Capitalisation of General Reserve and Share Premium Account)
_mJ nyOr/ Called up Capital

gm`me eoà òH$ .10/- H$m (eoà r{_`_ ImVm Ama gm_m` Ama{j{V Ho$ nyO
rH$aU

150000000
150000000 Equity Shares of Rs.10/- each (includes 14,63,74,857 Equity Shares of Rs.10/- each
issued as Bonus Shares by Capitalisation of General Reserve and Share Premium Account)
KQ>mE AXV _mJ/
Less: Calls unpaid
OmoS>| g_nhV gm`me eoà (_ybV XV am{e )
Less: Preliminary Expenses
KQ>mE IM _| ~r_mboIZ `m eoàm| Ho$ AmXmZ na H$_reZ `m Xbmb H$_reZ em{_b h

Less: Expenses including commission or brokerage on Underwriting or subscription of shares
Hw$b /TOTAL
272
SCHEDULE - 5A - PATTERN OF SHARE HOLDING AS AT 31ST MARCH 2016 [As certified by the Management]
Mmby df/ Current Year
eoàm| H$s g`m
Am{Yn` %% of
eòaYmaH$/ Particulars
No. of Shares
gdYH$/ Promoters
^maVr`/Indian
^maV gaH$ma/ Government of India
^maV gaH$ma Ho$ Zm_m[H$V gX` /
149999970
No. of Shares
Holding
149999970
100%
Nominees of Govt. of India
Hw$b / Total
Holding
eoàm| H$s g`m Am{Yn` %% of
AZwgMy r - 5 A - eoàYmaU H$m {V_mZ (~YZ mam `Wm _m{UV ) 31 _mM 2016 H$mo g_m Ad{Y Ho$ {bE
100%
30
30
150000000
150000000
AZwgyMr - 6 - 31 _mM 2016 H$mo Ama{j{V`m VWm A{Yeof
SCHEDULE - 6 - RESERVES & SURPLUS AS AT 31ST MARCH 2016

Mmby df Current
JV df
Year
Previous Year
14567
14567
nyOr n[aemoYZ Ama{jV/ Capital Redemption Reserve
eoà r{_`_/ Share Premium
57288849
54663150
1659367
2625699
58948216
57288849
8628
8628
411973
117620
33112
19012
1700
14100
34812
33112
59418196
57462775
nyOr Ama{jV /Capital Reserve
gm_m` Ama{jV / General Reserve

OmoS>|o bm^ Ama hm{Z ImVm go AV[aV/ Add: Transfer from Profit & Loss Account
A{V_ eof / Closing Balance
_hm{dnpV Ama{jV/ Catastrophe Reserve
A` Ama{j{V`m - {Zdoe Ama{jV / Other Reserves - Investment Reserve
{dXoer _wXm go[fV Ama{jV - / Foreign Currency Translation Reserve
gm[d[YH Ama[mV-^maVs` [aOd ~H A[Y[Z`_ 1934 Hr Ymam 45-AmB gs Ho VhV gOZ Ama[mV [Z[Y
Statutory Reserve - Reserve Fund created under Section 45-IC of the Reserve Bank of India Act, 1934.
OmoS>| bm^ Ama hm{Z ImVo go AV[aV/ Add: Transfer from Profit & Loss Account
df Ho$ AV _| / Closing Balance
bm^ Ama hm{Z ImVo _| eof bm^/alance of Profit in Profit & Loss Account
Hw$b / TOTAL
273

{ddaU / Particulars
(` 000)
AZwgyMr - 7 - 31 _mM 2016 H$mo CYma/
SCHEDULE - 7 - BORROWINGS AS AT 31ST MARCH 2016

{ddaU/ Particulars
(` 000)
Mmby df/ Current
JV df / Previous
Year
Year
G$U n /~mS>/ Debentures / Bonds
~H$/ Banks
{dVr` gWm`|/ Financial Institutions
Hw$b / TOTAL
0
(` 000)
AZwgyMr - 8 - 31 _mM 2016 H$mo {Zdoe / SCHEDULE-8-INVESTMENTS AS AT 31ST MARCH 2016

{ddaU / Particulars
Mmby df /Current
JV df /Previous
Year
Year
{Zdoe/ Investments
XrKH$mbrZ {Zdoe / Long Term Investment
61457818
57763951
10475
10475
A` {Zdoe/ Other Investments
(a) moà / Shares
184526
65776
3618748
2947886
81719049
87831246
(ac) A{Y_mZ / Preference
5141
5141
b) `wMwAb S/ Mutual Funds
47305
41805
18740663
22474691
e) A` {V^y{V`m/ Other Securities
f) {Z`{V H$nZr / Subsidiaries
g) {Zdoe gnpV`m gnXm/ Investment Properties- Real Estates
AmYma^yV Vmm gm_m{OH$ mo _| {Zdoe/ Investments in Infrastructure and Social Sector
50426303
51784113
10026965
8990300
226236993
231915384
2623377
5442266
gaH$mar {V^y{V`m Ama gaH$mar `m^yV ~mS> {Og_| gaH$mar hS>r ^r em{_b h Govt Securities and
Government Guaranteed Bonds incl. Treasury Bills
A` AZw_mo{XV {V^y{V`m/ Other Approved Securities

(aa) gm`me g~ */Equity - Associates *

OmoS>| A{YJhU Ho$ ~mX bm^ Ho$ eoà( ew hm{Z) / Add: Share of Post acquisition profit (Net of Losses)
(ab) g`me - A` / Equity - Others
c) `wn XVmdoO /Derivative Instruments

d) ) G$Un VWm ~mS> / Debentures & Bonds
Cn Hw$b / Sub Total

AnH$mbrZ {Zdoe/ Short Term Investment
gaH$mar {V^y{V`m Ama gaH$mar `m^yV ~mS> {Og_| gaH$mar hS>r ^r em{_b h (g{XY _mZm J`m) / Govt
Securities and Government Guaranteed Bonds incl. Treasury Bills (Considered Doubtful)
A` AZw_mo{XV {V^y{V`m/ Other Approved Securities
274
a) moà /Shares
aa) gm`me / Equity
ab) A{Y_mZ / Preference
1937872
1691574
c) `wn XVmdoO / Derivative Instruments
d) G$Un VWm ~mS> / Debentures & Bonds
1272783
1349168
e) A` {V^y{V`m dm{U` XVmdoO / Other Securities-Commercial paper
f) {Z`{V H$nZr / Subsidiaries
g) {Zdoe gnpV`m - gnXm / Investment Properties- Real Estates
4082281
4190977
500000
580452
10416313
13254437
236653306
245169821
ImVm _y`/Book Value
139699409
137656281
~mOma _y`/ Market Value
141736042
141492293
b) `wMwAb \$S / Mutual Funds
AmYma^yV Vmm gm_m{OH$ mo _| {Zdoe / Investment in Infrastructure and Social Sector

Cn Hw$b / Sub Total
Hw$b / Total
Ja A{H$V gm`me {V^y{V`m Ed `wn XVmdoO
m| hoVw H$nZr H$m gnym {Zdoe
ggregate amount of Companys Investment other than listed equity
A` {Zdoe/ Other Investments
securities and derivative instruments
ZmoQ> AZw_mo{XV {Zdoe Ho$ Abmdm AmYma^yV {Zdoe _| `. 3511918 hOma (XrK H$mbrZ) Ama `. 500000 hOma (An H$mbrZ) gp_{bV h &
Amdmg _| {Zdoe -ey`&
*{dVr` df 2015-16 _| H$nZr Zo `.10 {V Ho$ $n _| Agmo{gEQ> hoW Q>rnrE B{S>`m {b{_Q>oS> go `.118750 hoVw 1875001 A{V[aV eoà m
{H$`m h & BgHo$ H$maU EEg 23 H$s JUZm Ho$ AZwgma `. 18261 hOma H$m A{YJhU hAm h &
* In the Financial Year 2015-16, Company had acquired 11875001 additional number of shares of ` 10/- only each in its Associate Health TPA of
India Ltd. for ` 118750 thousands. This acquisition has resulted in goodwill of ` 18261 thousands, computed in accordance with AS 23.
AZwgyMr- 9 - 31 _mM 2016 H$mo G$U SCHEDULE 9 LOANS AS AT 31ST MARCH 2016
H _. g
SL. NO
1
Mmby df/
{ddaU/ PARTICULARS
JV df /
Current Year
G$U/ LOANS
{V^y[V Ho$ AmYma na dJuH$aU/ SECURITY-WISE CLASSIFICATION
{V^y{V/ Secured
(a) gnpV Ho$ ~YH$ na/ (a) On mortgage of property
(AA) ^maV _| / (aa) In India
(AmAm) ^maV Ho$ ~mha/ (ab) Outside India
(Am) moà, ~mS> , gaH$ma H$s {V^y{V`m| _|o / (b) On Shares, Bonds, Govt. Securities
(B) A` (gaH$ma mam `m^yV G$U ) / (c) Others (Govt. Guaranteed Loans)
A{V^yV / Unsecured
Hw$b /TOTAL
275
(` 000)
Previous Year
1776674
1870710
933593
1059926
184086
184466
2894353
3115102

Note: Other than Approved Investments comprises of Infrastructure Investment of ` 3511918 thousands (Long term) and ` 500000
thousands (Short term); Investment in Housing - NIL
G$UH$Vm Ho$ AmYma na dJuH$aU/ BORROWER-WISE CLASSIFICATION

933593
1059926
(Am) ~H$ VWm {dVr` gWm`|/ (b) Banks and Financial Institutions
(c) {Z` {V H$nZr / (c) Subsidiaries
442453
459557
1518307
1595619
2894353
3115102
2722507
2940046
171846
175056
2894353
3115102
(A ) AnH$mbrZ/ (a) Short Term
143948
148333
(Am) XrKH$mbrZ/ (b) Long Term
2750405
2966769
Hw$b / TOTAL
2894353
3115102
(A). Ho$r` VWm am` gaH$ma| / (a) Central and State Governments
(d) Ammo{JH$ CnH$_ / (d) Industrial Undertakings

(e) A` -hS>H$mo H$mo G$U/ (e) Loans to HUDCO
(f) A` - H$_Mmar Amdmg G$U/(f) Others-Employees Housing Loan #
Hw$b / TOTAL
3
[ZnmXZ Ho$ AmYma na dJuH$aU/ PERFORMANCE-WISE CLASSIFICATION

(A) _mZH$ G$U/ (a) Loans classified as standard
(A A ) ^maV _|/ (aa) In India
(AmAm ) ^maV Ho$ ~mha/ (ab) Outside India
(Am) Ja {ZnmXZ G$U/ (b) Non-performing loans
(AA) ^maV _| * / In India*
(AmAm) ^maV Ho$ ~mha / Outside India
Hw$b / TOTAL

n[andVm Ho$ AmYma na dJuH$aU/ MATURITY-WISE CLASSIFICATION
ZmoQ>/Notes:
* AZwgyMr 14 _| Aemo` VWm g{XY G$U Ho$ VhV Ja {ZnmXZ G$U Ho$ {bE `.171846 (JV df `. 180285) H$m mdYmZ {H$`m J`m h &
*
Provision of ` 171846 (previous year ` 180285) against non performing loans is grouped under Provision for Bad & Doubtful Debts
in Schedule 14.
^maVr` [aOd ~H$ Ho$ {Xem-{ZX}em| Ho$ AZwgma _mZH$ n[agnpV `.1678187 Ho$ 0.4% na `. 6713 (`.7009) H$m mdYmZ {H$`m J`m
h &
Pursuant to RBI Guidelines a provision of ` 6713 (` 7009) is made, being 0.4 % on standard assets of ` 1678187
(` 000s)
1.
Ja {Znm{XV G$U H$m mdYmZ / Provision against non-performing loans

G$U g{XY _mZm J`m h Ama CV G$U hoVw
2.
Loans considered as doubtful & loss assets and Provision created against such loans
276
171846
171846
{ddaU /Particulars
bmJV / gH$b bmH$ COST / GROSS BLOCK

Ama^ _|
Opening
OmoS>| /
AVaU
H$Q>mVr /
AVaU
_y`mg/ DEPRECIATION
Additions / Deductions
Transfers / Transfers
df Ho$
{bE
{~H$s na/
g_m`moOZ
last year
For the
year
On Sales /
Adjustments
JV df
VH$ Upto
AV _|
Closing
(` 000)
ew bmH$/ NET BLOCK

df Ho$ AV
na
VmarI
VH$
To Date
As at year
end
JV df
Previous
year
JwS>{db/ Good will
A`j/Intangibles
591146
149853
740999
435439
104860
540299
200700
155707
43455
73525
116971
116971
43455
2642
2642
803
24
827
1815
1839
113871
113871
55305
1485
56790
57081
58566
590953
15428
606381
403848
3984
407832
198549
187105
330481
29150
7841
351790
266472
20592
7054
280010
71780
64009
2362225
93586
41003
2414808 2110822
156083
41635 2225270
189538
251455
750088
166427
149100
767415
350807
146176
104952
392031
375384
399281
123451
13009
25176
111284
104259
10934
24569
90624
20660
19192
544599
26876
14188
557287
376622
46829
12853
410598
146689
167977
165697
21078
2431
184344
109822
12083
2129
119776
64568
55875
5618608
588932
239748
5967792 4214199
503050
5618608
588932
4960894
826380
gnpV-dm{_d
Land - Freehold
nQ>Q>o H$s gnpV

Land - Leasehold
nQ>Q>o H$s gnpV`m

Leasehold Properties
^dZ */Building *
Ag~md / gOm gm_Jr
Furniture & Fittings
gyMZm mmo{JH$s
CnH$aU/Information
AZwgyMr - 10 - Wm`r n[agn{V`m/ SCHEDULE - 10: FIXED ASSETS AS AT 31ST MARCH 2016
dmhZ/ Vehicles
H$m`mb` CnH$aU
Office Equipment
A`-{dwV CnH$aU
Others-Electrical
Equipments
A` n[agnpV`m
Other Assets
Hw$b / Total
Mmby H$m`/ Workin-progress
Hw$b `moJ /Grand Total
JV df / Previous
Year
193192 4524057
0
1443735 1404461
239748
5967792 4214199
503050
193192 4524057
1443735 1404461
168662
5618608 3815773
525480
127054 4214199
1404461
ZmoQ> *H$nZr A{Y{Z`_ 2013 Ho$ AZwgyMr-II Ho$ ZmoQ> 4 Ho$ AZwgma ^y{_ H$m _y` B_maV go AbJ H$a {X`m J`m h Ama VXZwgma _y`mg H$s JUZm H$s
OmVr h & AV df H$m _y`mg `.6344 hOma H$_ h &
*Note: As per note 4 of Schedule II of the Companies Act 2013,the value of land has been segregated from the value of the building and
depreciation is calculated accordingly. Hence depreciation for the year is lower by ` 6344 thousands
277

Technology Equipment
AZwgyMr-11-31 _mM 2016 H$mo ZH$X Ed ~H$ eof /SCHEDULE - 11 - CASH AND BANK BALANCES AS AT 31ST MARCH 2016
(` 000)
{ddaU / Particulars
ZH$X (MoH$, S>m\$Q> Ama Q>mn H$mo {_bmH$a)/ Cash (including cheques, drafts and stamps)
~H$ eof / Bank Balances
O_m mmVo/ Deposits Accounts
AnH$mbrZ (12 _hrZo Ho$ AXa Xo`)/ Short-term (due within 12 months)
A`/ Others
Mmby ImVo / Current Accounts
A` - _mJW ofUmE / Others - Remittance in transit
AXm Zht {H$`m J`m bm^me ImVo / Unpaid dividend accounts
g{j Zmo{Q>g Ama _mJo OmZodmbr am{e/ Money at Call and Short Notice
A` gWmZ Ho$ gmm/ With other Institutions
Hw$b / TOTAL
~H$ eof _| Ja amQ>r`H$V ~H$m| Ho$ gmW eof gp_{bV h&/Balances with Non-Scheduled Banks included in Bank Balances
Mmby df/Current Year JV dm/Previous Year

2108264
1747873
4709248
8163432
4616636
8785
456
0
499567
11942956
3729
5789774
125912
408
0
349486
16176885
4663
AZwgyMr -12-31 _mM 2016 H$mo A{J_ Ama A` n[agnpV`m /
SCHEDULE - 12 - ADVANCES AND OTHER ASSETS AS AT 31ST MARCH 2016
{ddaU / Particulars
(` 000)
A{J_/ ADVANCES
AnUH$mar H$n[Z`m| Ho$ nmg Ama{jV O_m / Reserve Deposits with ceding companies
6962034
3314502
5160
75247
53620
403
399
1960865
1314614
282526
315490
9281075
5003785
5252608
5199398
363750
525262
11576
10028906
8248909
123206
12800
12500
6496458
5915018
742
22154527
20036611
Hw$b (A + Am)/ TOTAL (A+B)
31435597
25040396
{Zdoe Ho$ {bE AmdoXZ am{e/ Application money for investments

nyd AXm`Jr/ Prepayments

{ZXoeH$m| /A{YH$m[a`m| H$mo A{J_/ Advances to Directors/Officers

A{J_ H$a ^wJVmZ Ama gmVo na H$mQ>m J`m H$a (H$a Ho$ {bE e mdYmZ)/ Advance tax paid and Taxes Deducted at
Source (Net of provision for taxation)
A` / Others
H$_Mmar A{J_ Ama G$U (` 1130 Omo g{XY _mZm J`m )/ Staff Advances and Loans (` 1130 considered doubtful)
Hw$b (A)/ TOTAL (A)
A` n[agnpV`m/ OTHER ASSETS
{Zdoe go Cnm{OV Am`/ Income accrued on investments
~H$m`m r{_`_ (` 228 Omo g{XY _mZm J`m)/ Outstanding Premiums (` 228 considered doubtful)
A{^H$VmAm| H$m eof/ Agents Balances
~r_m Ed nwZ~u_m H$mamo~ma H$aZodmbr A` H$n{Z`m| go m` am{e`m (` 919613 Omo g{XY _mZm J`m)/Due from
other entities carrying on insurance business (including reinsurers) (` 919613 considered doubtful)
^maVr` [aOd ~H$ Ho$ nmg O_m (~r_m A{Y{Z`_ 1938 H$s Ymam 7 Ho$ AVJV)/
Deposit with Reserve Bank of India [Pursuant to section 7 of Insurance Act, 1938]
A` / Others
O_m, A{J_ Ama A` boIm (` 24414 Omo g{XY _mZm J`m )/
Deposits, Advances & Other Accounts (` 24414 considered doubtful)
AVa H$m`mb` g_m`moOZ (ew )/ Inter Office Adjustments (Net)
278
{ddaU / Particulars
1271094
(` 000)
dm/Previous Year
1526152
5651897
34307
974899
0
14970234
0
96196708
0
456
6330431
56502
1946817
0
15194690
0
89957799
0
408
1330
1330
411996
404786
1024918
1014770
120537839
116433684
Mmby df/Current Year JV
A{^H$VmAm| H$o eof / Agents' Balances

A` ~r_m H$n{Z`m| H$mo Xo` am{e / Balances due to other insurance companies
A{nV nwZ~u_m na O_m am{e/ Deposits held on re-insurance ceded
A{J_ m r{_`_ / Premiums received in advance
A{d{Z`mo{OV r{_`_/ Unallocated Premium
{d{dY boZXma / Sundry Creditors
{Z` {V / {Z`H$ H$n{Z`m| H$mo Xo` / Due to subsidiaries/holding company
~H$m`m Xmdo / Claims Outstanding
A{YH$m[a`m| / {ZXoeH$m| H$mo Xo` / Due to Officers/Directors
A` / Others
^yVnyd eoàYm[a`m| H$s {Z{Y/ Former Share Holders Fund
AVa H$m`mb` g_m`moOZ (ew )/ Inter Office Adjustments (Net)
nm{bgrYmaH$m| H$s AXm{dV am[e / Unclaimed Amount of Policyholders:
Am[YH` dgybr/ dmngs ns[_`_/dmngs [~Hs Ha Hs am[e dmng Zhs Hs JB h/ Excess Collection / Refund Premium
Omar MoH$ H$mo ~r_mYmaH$ / nm{bgrYmaH$ mam O_m Zht {H$`m J`m/Cheques issued but not encashed by
Insured/Policyholder
Hw$b / TOTAL
AZwgyMr - 14 - 31 _mM 2016 H$mo mdYmZ /SCHEDULE - 14 - PROVISIONS AS AT 31ST MARCH 2016
(` 000)
Ag_m Omo{I_m| Ho$ {bò Ama{jV / Reserve for Unexpired Risk

Vm{dV bm^me hoVw/ For proposed dividends
bm^me {dVaU na H$a / For dividend distribution tax
g[H` n go `mnmpaV gm`me Ho Ad_y`Z hoVw ndmYmZ / Provision for diminution in value of
other than actively traded Equities
H$a H$m mdYmZ / Provision for Tax

Jwn _o{S>bo_ nm{bgr Ho$ {bE mdYmZ/rovision for Group Mediclaim Policy
AdH$me H$m ZH$XrH$aU hoVw/ For Leave Encashment
H$_Mmar AnH$mbrZ gw{dYm Ho$ {bò mdYmZ / Provision for Employee Short term Benefits
~r_mar H$s N>wQ>Q>r / Provision for Sick Leave
doVZ ~H$m`m hoVw / For Wage Arrears
G$U, {Zdoe Ama A` n[agnpV`m| hoVw / Loans, Investments and Other Assets
Hw$b / TOTAL
54125736
671600
136490
47208816
610000
121742
1168227
105916
53
53
35000
2480000
67500
30000
0
2137582
60852188
25000
2220000
67500
0
3726500
1962526
56048053
AZwgyMr -15-31 _mM 2016 H$mo {d{dY IM (J`m `m g_m`mo{OV Zht {H$`m J`m)/
SCHEDULE - 15 - MISCELLANEOUS EXPENDITURE AS AT 31ST MARCH 2016 (to the extent not written off or adjusted)
(` 000)
{ddaU / Particulars
eoà/G$U n Ho$ Omar _| XmZ H$r J`r Ny>Q>/ Discount Allowed in issue of shares/debentures
A` ({ddaUmZwgma)/ Others (to be specified)
Hw$b / TOTAL
279

{ddaU / Particulars
AZwgyMr - 13 31 _mM 2016 H$mo Mmby Xo`VmE /SCHEDULE - 13 - CURRENT LIABILITIES AS AT 31ST MARCH
[d^mOZ [VdoXZ
nOsHaU g`m.:545
31 _mM 2016 H$mo g_m df Ho$ {bò _Xdma {d^mOZ [anmoQ>
ApZ / Fire
{ddaU / Particulars
Mmby df /
Current Year
JV df / Previous
Year
Mmby df /
Current Year
JV df /
Previous Year
13113873
12514935
2540614
2821435
1294683
1041505
1751
7120
6172346
5958052
367371
500901
8236210
7598388
2174994
2327654
(329367)
465634
76330
66392
7906843
8064022
2251324
2394046
9204126
7682587
1957174
2121760

601988
446140
3844
20918
A{nV nwZ~u_m / Less: Reinsurance ceded
5131454
3357864
646063
379494
4674660
4770863
1314955
1763184
24039777
17394821
2994198
3603676
993225
932733
55926
50938
15712639
10207935
460651
1071869
9320363
8119619
2589473
2582745
17394822
17038935
3603676
3444397
932733
798599
50938
35330
10207935
11012182
1071869
1207242
8119620
6825352
2582745
2272485
5875403
6065130
1321683
2073444
820142
881426
272571
352820
820142
881426
272571
352820
278337
148803
(882)
1347
418013
452969
29905
32324
680466
577260
241784
321843
EOoQ> / Agents
465439
440448
154029
201587
Xbmb / Brokers
337221
287444
117676
138392
17482
153534
866
12841
820142
881426
272571
352820

SEGMENTAL REPORT
H$_reZ / COMMISSION

V E KAIMAL
S VENKATARAMAN
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
280
Mmby df / Current
Year
JV df / Previous
Year
Mmby df / Current
Year
(` 000)
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
1842176
2445867
4382790
5267302
105006967
89135095
151434
199926
153185
207046
1211594
1395909
1462995
2009457
1830366
2510358
10014805
7833161
530615
636336
2705609
2963990
96203756
82697843
105720
15007
182050
81399
(6769603)
(5644965)
636335
651343
2887659
3045389
89434153
77052878
2100412
1154488
4057586
3276248
83367561
66114284
96400
75075
100244
95993
714994
1163900
1633420
835588
2279483
1215082
8863550
5603460
563392
393975
1878347
2157159
75219005
61674724
4358315
3602491
7352513
7206167
110122775
96658762
316102
277187
372028
328125
1439732
1409135
3383641
2769398
3844292
3841267
28566410
19922742
1290776
1110280
3880249
3693025
82996097
78145155
3602491
3993459
7206167
7437856
96658762
87035672
277187
344614
328125
379944
1409135
1373053
2769398
3346905
3841267
4554147
19922743
14367464
1110280
991168
3693025
3263653
78145154
74041261
743888
513087
2065571
2586531
80069948
65778618
47852
40888
320423
393708
5164133
5258247
47852
40888
320423
393708
5164133
5258247
31305
25544
30423
26891
216017
154849
93978
96763
123883
129087
1154061
968941
(14821)
(30331)
226963
291512
4226089
4444155
10801
14011
164830
215598
3183122
3306521
36958
22070
154634
160462
1884359
1083530
93
4807
959
17648
96651
868196
47852
40888
320423
393708
5164132
5258247
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
281

SEGMENTAL REPORT
SEGMENTAL REPORT

nOsHaU g`m.:545
{ddaU / Particulars
Mmby df /
Current Year
JV df /
Previous Year
Mmby df /
Current Year
JV df /
Previous Year
17128297

16736400
29417368
24234423
870753
839801
1502064
1229122
16257544
15896599
27915304
23005301
(180472)
(365873)
(2455001)
(1864739)
16077072
15530726
25460303
21140562
10872142
9102776
13758372
10468599
262
453
850505
828154
1380195
1230906
10021637
8274622
12378439
9238146
4875753
3685213
47774828
38019552
1956
6771

308007
288751
7924185
4289843
4567746
3396462
39852599
33736480
3685213
3107542
38019552
30877883
4754
6771
1134
288751
238390
4289843
4162644
3396462
2873906
33736480
26716373
11192921
8797178
18494558
16258253
1298429
1478968
(101)
1298429
1478968
(101)
KQ>mE df H$s g_m{ na ~H$m` Xmdo- A{nV nwZ~u_m / Less: Claims outstanding at the end of the year - RI Ceded

H$_reZ / COMMISSION
CONSOLIATED FINANCIAL STATEMENTS

SEGMENTAL REPORT
129118
125525
73543
88395
1169311
1353443
(73543)
(88496)
EOoQ> / Agents
1132327
1245415
-101
Xbmb / Brokers
160074
182952
6028
50601
1298429
1478968
-101


V E KAIMAL
S VENKATARAMAN
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
282
Mmby df / Current
Year
_moQ>a V Vr` nj nyb / Motor TP Pool
JV df / Previous
Year
739777
Mmby df / Current
Year
720851
JV df / Previous
Year
0
(` 000)
Mmby df / Current
Year
0
JV df / Previous
Year
47285442
41691674
89385
89385
591821
576681
2964638
2645604
237341
144170
44410189
39046070
(46585)
6954
(2682058)
(2223658)
190756
151124
41728131
36822412
292593
174486
5290479
5565535
30213586
25311396
164468
164730
453
234074
139589
2464774
2198649
222987
34897
5290479
5565535
27913542
23113200
4966665
3833191
22106704
27397183
79723950
72935139
1956
6771
3973332
3066553
12205524
7645147
993333
766638
22106704
27397183
67520382
65296763
3833191
3022827
27397183
32962718
72935139
69970970
6771
5888
3066553
2418261
7645147
6819295
766638
604566
27397183
32962718
65296763
63157563
449682
196969
30137161
25252400
1298429
1478867
1298429
1478867
202661
213920
1095768
1264947
1132327
1245314
160074
182952
6028
50601
1298429
1478867
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
283

SEGMENTAL REPORT

nOsHaU g`m.:545
`pVJV XwKQ>Zm /
Personal Accident
H$.. / Workmen Comp.
{ddaU / Particulars
Mmby df / Current
Year
JV df / Previous
Year
Mmby df / Current
Year
904293
924850
2552900
8614
45215
46242
393317
859078
878608
2168197
9765
(14412)
(135136)
868843
864196
2033061
178553
171520
1699401
15006
14603
17366
338364
163950
154154
1376043
444604
375356
1506130
17832
30528
29131
301073
414076
346225
1222889
375356
333426
1009518
1066
29131
25685
236220
df Ho$ Ama^ _| ~H$m`m Xmdo ew / Less: Claims outstanding at the beginning of the year - Net
346225
307741
774364
231801
192638
1824568
91432
97744
231277
91432
97744
231277
3279
6782
6936
119569
84650
90808
114987



SEGMENTAL REPORT
H$_reZ / COMMISSION

EOoQ> / Agents
75438
80954
146097
Xbmb / Brokers
15455
13982
82141
539
2808
3038
91432
97744
231276

S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
284
`pVJV XwKQ>Zm / Personal
Accident
JV df / Previous
Year
{d_mZZ / Aviation
Mmby df / Current
Year
(` 000)
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
2320095
669777
569936
5172360
5410084
14370
41440
37372
366369
470725
436539
731607
559945
2566276
3071048
1897926
(20390)
47363
2972453
2809761
(107606)
23682
(3275)
(87798)
352090
1790320
3292
44088
2884655
3161851
1449858
1133607
166079
3161208
2202202
11332
56662
4897
236348
185541
314371
1068330
97642
1803395
1012822
1146819
121939
73334
1594161
1374921
1009518
3540186
451353
13269765
12079932
1066
105153
64715
861674
758697
236220
3500990
363634
10228563
9371199
774364
144349
152434
3902876
3467430
962586
451353
209449
12079932
8377830
1437
64715
65329
758697
640719
183991
363634
141486
9371199
5704234
780032
152434
133292
3467430
3314315
1141151
113854
92476
2029607
1528036
279046
9416
13407
298979
355596
279046
9416
13407
298979
355596
3449
6251
3737
105925
45401
112369
23214
19088
344372
390213
170126
(7547)
(1944)
60532
10784
155244
194
3086
95317
109711
83878
9221
8793
202340
225350
39924
1528
1323
20535
279046
9415
13407
298980
355596
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
285

SEGMENTAL REPORT

nOsHaU g`m.:545
{ddaU / Particulars

6355301
5735646
701665
861872
1013047
950157
6043919
5647361
(198279)
18603
5845640
5665964
2226464
3139591
243572
956607
512746
1209397
1957290
2886801
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - `j / Add: Claims Outstanding at the end of the year - Direct
2970377
3525818
451380
564384
1656222
1641303
1765535
2448899
3525818
3148378
564384
638279
1641304
1223313
2448898
2563344
1273927
2772356
588443
349778
588443
349778
99863
101535
162610
151088
525696
300225

H$_reZ / COMMISSION

SEGMENTAL REPORT
EOoQ> / Agents
529894
441288
Xbmb / Brokers
17964
-234426
40585
142916
588443
349778
S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
286
Xm{`d / Liability
(` 000)
836953
714180
41229942
31768630
4121
11570
239031
144835
2061674
(21209)
602043
580915
39168268
31789839
(10564)
(11115)
(3689215)
(3655592)
591479
569800
35479053
28134247
762227
117769
43992515
33555869
(1324)
5070
439831
13224
2221507
739989
321072
109615
41771008
32815880
1215180
1156270
7452583
5125376
1737
13502
270931
326744
372579
309364
945986
843028
7080004
4816012
1156270
711135
5125376
3321898
13502
21401
326744
114874
309364
154586
843028
617662
4816012
3167312
424030
334981
44035000
34464580
102870
91540
2543287
2592269
102870
91540
2543287
2592269
699
727
10489
7975
284364
67352
93080
84292
2258923
2524917
47335
49020
1156520
1221904
54979
37903
1342185
765098
556
4617
44582
605267
102870
91540
2543287
2592269
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
287

SEGMENTAL REPORT

nOsHaU g`m.:545
ApZ / Fire
{ddaU / Particulars
Mmby df /
JV df /
Current Year
Previous Year

13113873
12514935
13113873
12514935
1294683
1041505
1173212
898920
121471
142585
6172346
5958052
2972271
3377011
3200075
2581041
8236210
7598388
11314814
10036843
(3078604)
(2438455)
(329367)
465634
7906843
8064022
{ddaU / Particulars
Mmby df /
JV df /

Current Year
Previous Year

17128297
16736400
17128297
16736400
870753
839801
864170
838021
6583
1780
16257544
15896599
16264128
15898380
(6584)
(1781)
(180472)
(365873)
16077072
15530726
V E KAIMAL
S VENKATARAMAN
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
288
(` 000)
Mmby df / Current
Year
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
2540614
2821435
1842176
2445867
4382790
5267302
2540614
2821435
1842176
2445867
4382790
5267302
1751
7120
151434
199926
153185
207046
2914
147485
194691
147485
197605
1751
4206
3949
5235
5700
9441
367371
500901
1462995
2009457
1830366
2510358
185879
221211
66732
(789001)
252611
(567790)
181492
279690
1396263
2798458
1577755
3078148
2174994
2327654
530615
636336
2705609
2963990
2354735
2603138
1922929
3429559
4277664
6032698
(179741)
(275484)
(1392314)
(2793223)
(1572055)
(3068708)
76330
66392
105720
15007
182050
81399
2251324
2394046
636335
651343
2887659
3045389

Mmby df /
Current Year
JV df /
Previous Year
Mmby df /
Current Year
Mmby df /
Current Year
JV df /
Previous Year
JV df /
Previous Year
(` 000)
Mmby df /
Current Year
JV df /
Previous Year
29417368
24234423
739777
720851
47285442
41691674
29417368
24234423
739777
720851
47285442
41691674
89385
89385
89385
89385
1502064
1229122
591821
576681
2964638
2645604
1483347
1218693
591821
576681
2939338
2633394
18717
10429
25300
12210
27915304
23005301
237341
144170
44410189
39046070
27934020
23015730
237341
144170
44435487
39058280
(18717)
(10429)
(25300)
(12210)
(2455001)
(1864739)
(46585)
6954
(2682058)
(2223658)
25460303
21140562
190756
151124
41728131
36822412
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
289


nOsHaU g`m.:545
H$_H$ma n{VH$a / Workmen Comp.
{ddaU / Particulars
Mmby df / Current
JV df / Previous
Year
Year

904293
924850
904293
924850
45215
46242
45215
46242
859078
878608
859078
878608
9765
(14412)
868843
864196

{ddaU / Particulars
Mmby df / Current

Year
JV df / Previous
Year

6355301
5735646
6355301
5735646
701665
861872
639591
811922
62074
49950
1013047
950157
747244
717367
265803
232790
6043919
5647361
6247649
5830202
(203730)
(182841)
(198279)
18603
5845640
5665964
V E KAIMAL
S VENKATARAMAN
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
290
(` 000)
Mmby df / Current
Year
[d_mZZ / Aviation
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
2552900
2320095
669777
569936
5172360
5410084
2552900
2320095
669777
569936
5172360
5410084
8614
14370
41440
37372
366369
470725
8614
14370
33712
28413
353424
468225
7728
8959
12945
2500
393317
436539
731607
559945
2566276
3071048
346191
378193
452440
381289
1611006
1850344
47126
58346
279167
178656
955270
1220704
2168197
1897926
(20390)
47363
2972453
2809761
2215323
1956272
251049
217061
3914779
4027965
(47126)
(58346)
(271440)
(169697)
(942325)
(1218205)
(135136)
(107606)
23682
(3275)
(87798)
352090
2033061
1790320
3292
44088
2884655
3161851
(` 000)
Mmby df / Current
Year
Health & Hosp. / dm` d AnVm{bH$aU
JV df / Previous
Year
Mmby df / Current
Year
Total Misc. / Hw$b {d{dY
JV df / Previous
Year
Mmby df / Current
Year
JV df / Previous
Year
836953
714180
41229942
31768630
105006967
89135095
836953
714180
41229942
31768630
105006967
89135095
4121
11570
1211594
1395909
4121
11570
1128848
1334500
82746
61409
239031
144835
2061674
(21209)
10014805
7833161
156327
98600
2054613
3761023
8352373
9866452
82704
46235
7061
(3782232)
1662432
(2033291)
602043
580915
39168268
31789839
96203756
82697843
684747
627150
39175330
28007606
97783443
80603144
(82704)
(46235)
(7062)
3782232
(1579687)
2094699
(10564)
(11115)
(3689215)
(3655592)
(6769603)
(5644965)
591479
569800
35479053
28134247
89434153
77052878
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
291

Liability / Xm{`d

nOsHaU g`m.:545
ApZ / Fire
{ddaU / Particulars

9204126
7682587
9204126
7682587
601988
446140
500934
326518
101054
119622
5131454
3357864
2646403
1842028
2485051
1515836
AXm {H$ò Jò ew Xmdo/NET CLAIMS PAID
4674660
4770863
7058657
6167076
(2383997)
(1396213)
9320362
8119619
24039777
17394821
24039777
17394821
768210
737393
225015
195340
993225
932733
9513979
6213411

KQ>mE df H$s g_m{ na ~H$m`m Xmdo- A{nV nwZ~u_m-^maV Ho ~mha / Less: Claims Outstanding Closing - RI Ceded - Outside India
6198660
3994524
15712639
10207935
9320363
8119619
8119619
6825352
17394822
17038935
17394822
17038935
737393
507040
195340
291559
932733
798599
6390506
7208842
3817429
3803340
10207935
11012182
8119620
6825352
5875403
6065130
S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
292
(` 000)
1957174
2121760
2100412
1154488
4057586
3276248
1957174
2121760
2100412
1154488
4057585
3276248
3844
20918
96400
75075
100244
95993
2256
87821
64800
87825
67056
3840
18662
8579
10275
12420
28937
646063
379494
1633420
835588
2279483
1215082
(215222)
211672
(1067389)
(69865)
(1282611)
141807
861285
167822
2700809
905453
3562094
1073275
1314955
1763184
563392
393975
1878347
2157159
2172399
1912344
3255621
1289153
5428021
3201496
(857444)
(149159)
(2692229)
(895178)
(3549673)
(1044338)
2589473
2582745
1290777
1110280
3880250
3693026
2994198
3603676
4358315
3602491
7352513
7206167
2994198
3603676
4358315
3602491
7352513
7206167
43686
40017
235808
224179
279494
264195
12240
10921
80294
53008
92534
63930
55926
50938
316102
277187
372028
328125
323139
(39372)
3239930
540402
3563069
501030
137512
1111241
143709
2228996
281223
3340237
460651
1071869
3383639
2769398
3844292
3841267
2589473
2582745
1290776
1110280
3880249
3693025
2582745
2272485
1110280
991168
3693026
3263653
3603676
3444397
3602491
3993459
7206167
7437856
3603676
3444397
3602491
3993459
7206167
7437856
40017
25131
224179
252125
264195
277256
10921
10199
53008
92489
63930
102688
50938
35330
277187
344614
328125
379944
(39372)
(5536)
540402
939844
501029
934308
1111241
1212778
2228996
2407061
3340237
3619839
1071869
1207242
2769398
3346905
3841267
4554147
2582745
2272485
1110280
991168
3693025
3263653
1321683
2073444
743888
513087
2065571
2586531
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
293


nOsHaU g`m.:545
{ddaU / Particulars

`j H$mamo~ma /Direct Business
10872142
9102776
10872142
9102776
850505
828154
850505
828154

10021637
8274622
10021637
8274622
4567746
3396462
4875753
3685213
4875753
3685213
304332
271154
KQ>mE df H$s g_m{ na ~H$m`m Xmdo- A{nV nwZ~u_m -^maV Ho ~mha / Less: Claims Outstanding Closing - RI Ceded - Outside India
3675
17597
308007
288751

OmoS>| df H$s g_m{ na ~H$m`m - ew/ ADD: CLAIMS OUTSTANDING AT THE END OF THE YEAR -NET
4567746
3396462
3396462
2873906
KQ>mE Ama^ _o ~H$m`m Xmdo - `j-^maV _o /Less: Claims Outstanding Opening - Direct - In India
3685213
3107542
KQ>mE Ama^ _o ~H$m`m Xmdo - `j-^maV Ho ~mha/Less: Claims Outstanding Opening - Direct - Outside India
3685213
3107542
4754
4754
271154
238390
17597
288751
238390
3396462
2873906
11192921
8797178
S VENKATARAMAN
V E KAIMAL
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
dr. B. H$_b
Eg. doH Qam_Z

H$nZr g{Md
294
(` 000)
Mmby df /
JV df /
Mmby df /
JV df /
Mmby df /
JV df /
Mmby df /
JV df /
Current Year
Previous Year
Current Year
Previous Year
Current Year
Previous Year
Current Year
Previous Year
13758372
10468599
292593
174486
5290479
5565535
30213586
25311397
13758372
10468462
292593
174486
5290479
5565535
30213586
25311260
137
137
262
453
164468
164730
454
453
164468
164468
454
262
262
1380195
1230906
234074
139589
2464774
2198650
1380195
1230228
234074
139589
2464774
2197972
678
678
12378439
9238146
222987
34897
5290479
5565535
27913542
23113201
12378177
9238687
222987
34897
5290479
5565535
27913280
23113741
262
(541)
262
(541)
39852599
33736481
993333
766638
22106704
27397183
67520382
65296764
47762018
38007537
4966665
3833191
22106704
27397183
79711140
72923124
12810
12015
12810
12015
47774828
38019552
4966665
3833191
22106704
27397183
79723949
72935139
500
5771
500
5771
1456
1000
1456
1000
1956
6771
1956
6771
7915323
4288360
3973332
3066553
12192987
7626067
8862
1483
12537
19080
7924185
4289843
3973332
3066553
12205524
7645147
39852599
33736481
993333
766638
22106704
27397183
67520382
65296764
33736481
26716374
766638
604565
27397183
32962718
65296764
63157564
38007537
30866273
3833191
3022827
27397183
32962718
72923124
69959360
12015
11610
12015
11610
38019552
30877883
3833191
3022827
27397183
32962718
72935139
69970970
5054
5054
4754
1717
1134
1717
1134
6771
1134
6771
5888
4288359
4161160
3066553
2418261
7626067
6817811
1484
1484
19080
1483
4289843
4162644
3066553
2418261
7645147
6819294
33736480
26716374
766638
604566
27397183
32962718
65296763
63157564
18494558
16258253
449682
196969
30137161
25252401
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
295


nOsHaU g`m.:545
H$_H$ma n{VH$a/Workmen comp/Emp Liability
{ddaU / Particulars
Mmby df /Current year
JV df /Previous year
178553
171520
178553
171520
14603
17366
14603
17366
163950
154154
163950
154154
414076
346225
433844
365263
10760
10093
444604
375356
30528
29131

KQ>mE df H$s g_m{ na ~H$m`m Xmdo- A{nV nwZ~u_m -^maV Ho ~mha/ Less: Claims Outstanding Closing - RI Ceded - Outside India
30528
29131
414076
346225
346225
307741
365263
323674
10093
9752
375356
333426
29131
25685
29131
25685
346225
307741
231801
192638
S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
296
(` 000)
[d_mZZ / Aviation
1699401
1449858
1133607
166079
3161208
2202202
1699401
1449858
1133607
166079
3161208
2202202
15006
11332
56662
4897
236348
185541
15006
11332
44155
4897
215074
176311
12507
21274
9230
338364
314371
1068330
97642
1803395
1012822
280054
261419
453747
48393
1248440
680741
58310
52952
614583
49249
554955
332081
1376043
1146819
121939
73334
1594161
1374921
1434353
1199770
724015
122584
2127842
1697772
(58310)
(52952)
(602076)
(49249)
(533681)
(322851)
1222889
774364
144349
152434
3902875
3467430
1506130
1009518
3540186
451353
13269765
12079932
1506130
1009518
3540186
451353
13269765
12079932
17832
1066
85932
48392
835111
733620
19221
16323
26563
25077
17832
1066
105153
64715
861674
758697
262181
193534
2936621
331984
6043470
5672945
38892
42686
564369
31650
4185093
3698254
301073
236220
3500990
363634
10228563
9371199
1222889
774364
144349
152434
3902876
3467430
774364
780032
152434
133292
3467430
3314314
1009518
962586
451353
209449
12079932
8377830
1009518
962586
451353
209449
12079932
8377830
1066
1437
48392
49327
733620
628968
16323
16002
25077
11751
1066
1437
64715
65329
758697
640719
193534
155594
331984
109061
5672945
3473110
42686
28397
31650
32425
3698254
2231124
236220
183991
363634
141486
9371199
5704234
774364
780032
152434
133292
3467430
3314315
1824568
1141151
113854
92476
2029607
1528036
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
297


nOsHaU g`m.:545
{ddaU / Particulars
2226464
3139591
2226464
3139591
243572
956607
231809
760180
11763
196427
512746
1209397
341754
655825
170992
553572
1957290
2886801
2116519
3243946
(159229)
(357145)
1765535
2448898
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - `j-^maV _o / Add: Claims Outstanding Closing - Direct - In India
2970377
3525818
2970377
3525818
328520
428855
122860
135529
451380
564384
1171320
1268926
484902
372377
1656222
1641303
1765535
2448899
2448898
2563344
3525818
3148378
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - `j-^maV Ho ~mha/Add: Claims Outstanding Closing - Direct - Outside India

KQ>mE df H$s g_m{ na ~H$m`m Xmdo- A{nV nwZ~u_m-^maV Ho ~mha/ Less: Claims Outstanding Closing - RI Ceded - Outside India
3525818
3148378
428855
375673
135529
262606
564384
638279
1268926
799862
372378
423451
1641304
1223313
2448898
2563344
1273927
2772356
S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
298
(` 000)
Xm{`d / Liability
762227
117769
43992515
33555869
83367561
66114284
762227
117769
43992515
33555869
83367562
66114147
137
(1324)
5070
714994
1163900
(1324)
5070
669188
958243
45806
205657
439831
13224
2221507
739988
8863550
5603460
439831
13224
2199626
4370525
7442828
8245465
21881
(3630537)
1420722
(2642005)
321072
109615
41771008
32815881
75219005
61674724
321072
109615
41792889
29185344
76593922
58826926
(21881)
3630537
(1374915)
2847798
945986
843028
7080005
4816012
82996096
78145154
1215180
1156270
7452583
5125376
110099205
96636654
23570
22108
1215180
1156270
7452583
5125376
110122775
96658762
1737
13502
1269631
1231206
170101
177929
1737
13502
1439732
1409135
270931
326744
372569
303088
23280608
15752419
10
6276
5285802
4170323
270931
326744
372579
309364
28566410
19922742
945986
843028
7080004
4816012
82996097
78145155
843028
617662
4816012
3167312
78145154
74041262
1156270
711135
5125376
3321898
96636654
87014309
22108
21363
1156270
711135
5125376
3321898
96658762
87035672
13502
21401
1230490
1081560
178645
291493
13502
21401
1409135
1373053
326744
114874
303088
154586
15752421
11650583
6276
4170322
2716881
326744
114874
309364
154586
19922743
14367464
843028
617662
4816012
3167312
78145154
74041261
424030
334981
44035000
34464581
80069948
65778618
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
299


nOsHaU g`m.:545

ApZ / Fire
{ddaU / Particulars
Mmby df
Current Year
JV df
Previous Year
H$_reZ / COMMISSION
820142
881426
820142
881426
278337
148803
237423
110138
40914
38665
418013
452969
272177
288477
KQ>mE A{nV nwZ~u_m na H$_reZ-^maV Ho ~mha /Less: Commission on Reinsurance Ceded - Outside
India
145836
164492
680466
577260
785388
703087
(104922)
(125827)
465439
440448
EOoQ / Agents
465439
440448
Xbmb / Brokers
337221
287444
17482
153534
820142
881426

OmoS>| drH$V nwZ~u_m na H$_reZ - ^maV Ho ~mha / Add: Commission on Reinsurance Accepted - Outside
India

`dgm` m H$aZo Ho$ {bE CnJV `` (gH$b) H$m {ddaU / Break-up of the expenses (Gross) incurred
to procure business to be furnished as per details indicated below:

S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
300

Mmby df
Current Year
JV df
Previous Year
Mmby df
Current Year
(` 000)
JV df
Previous Year
Mmby df
Current Year
JV df
Previous Year
272571
352820
47852
40888
320423
393708
272571
352820
47852
40888
320423
393708
(882)
1347
31305
25544
30423
26891
59
30281
24566
30280
24625
(882)
1288
1024
978
143
2266
29905
32324
93978
96763
123883
129087
19558
20662
18643
12607
38201
33268
10347
11662
75335
84156
85682
95819
241784
321843
(14821)
(30331)
226963
291512
253013
332217
59489
52847
312502
385064
(11229)
(10374)
(74310)
(83178)
(85539)
(93553)
154029
201587
10801
14011
164830
215598
154029
201587
10801
14011
164830
215598
117676
138392
36958
22070
154634
160462
866
12841
93
4807
959
17648
272571
352820
47852
40888
320423
393708
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
301


nOsHaU g`m.:545

{ddaU / Particulars
Mmby df
Current Year
JV df
Previous Year
H$_reZ / COMMISSION
1298429
1478968
1298429
1478968
OmoS>| drH$V nwZ~u_m na H$_reZ - ^maV Ho ~mha / Add: Commission on Reinsurance Accepted - Outside India
129118
125525
KQ>mE A{nV nwZ~u_m na H$_reZ - ^maV _o /Less: Commission on Reinsurance Ceded - In India
129118
125525
1169311
1353443
1169311
1353443
1132327
1245415
EOoQ / Agents
1132327
1245415
Xbmb / Brokers
160074
182952
6028
50601
1298429
1478968

KQ>mE A{nV nwZ~u_m na H$_reZ - ^maV Ho ~mha /Less: Commission on Reinsurance Ceded - Outside India

`dgm` m H$aZo Ho$ {bE CnJV `` (gH$b) H$m {ddaU / Break-up of the expenses (Gross) incurred to
procure business to be furnished as per details indicated below:

S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
302

Mmby df
Current Year
JV df
Previous Year
Mmby df
Current Year
Mmby df
Current Year
JV df
Previous Year
JV df
Previous Year
(` 000)

Mmby df
Current Year
JV df
Previous Year
(101)
1298429
1478867
(101)
1298429
1478867
73543
88395
202660
213920
73543
88395
202661
213920
(73543)
(88496)
1095768
1264947
(73543)
(88496)
1095768
1264947
(101)
1132327
1245314
(101)
1132327
1245314
160074
182952
6028
50601
(101)
1298429
1478867
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
303


nOsHaU g`m.:545

H$_H$ma n{VH$a/ Workmen Comp./Emp.Liability
{ddaU / Particulars
Mmby df
Current Year
JV df
Previous Year
H$_reZ / COMMISSION
91432
97744
91432
97744
OmoS>| drH$V nwZ~u_m na H$_reZ - ^maV Ho ~mha /

Add: Commission on Reinsurance Accepted - Outside India
6782
6936
6782
6936
84650
90808
84650
90808
75438
80954
EOoQ / Agents
75438
80954
Xbmb / Brokers
15455
13982
539
2808
91432
97744



S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
304

Mmby df
JV df
Current Year
Previous Year
[d_mZZ / Aviation
Mmby df
JV df
Current Year
Previous Year
(` 000)
Mmby df
JV df
Current Year
Previous Year
231277
279046
9416
13407
298979
355596
231277
279046
9416
13407
298979
355596
3279
3449
6251
3737
105925
45401
3279
3449
4322
1413
101275
44622
1929
2324
4650
779
119569
112369
23214
19088
344372
390213
95019
95461
21984
17827
211777
229329
24550
16908
1230
1261
132595
160884
114987
170126
(7547)
(1944)
60532
10784
139537
187034
(8247)
(3007)
188477
170888
(24550)
(16908)
700
1063
(127945)
(160104)
146097
155244
194
3086
95317
109711
146097
155244
194
3086
95317
109711
82141
83878
9222
8793
202340
225350
3039
39924
1528
1322
20535
231277
279046
9416
13407
298979
355596
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
305


nOsHaU g`m.:545

{ddaU / Particulars
Mmby df
Current Year
H$_reZ / COMMISSION
588443
349778
588443
349778
99863
101535
OmoS>| drH$V nwZ~u_m na H$_reZ - ^maV _o / Add: Commission on Reinsurance Accepted - In India
99327
101422
536
113
162610
151088
KQ>mE A{nV nwZ~u_m na H$_reZ-^maV _o / Less: Commission on Reinsurance Ceded - In India
137533
125798
25077
25290
525696
300225
550237
325403
(24541)
(25178)
529894
441288
EOoQ / Agents
529894
441288
Xbmb / Brokers
17964
-234426
40585
142916
588443
349778
OmoS >| drH$V nwZ~u_m na H$_reZ - ^maV Ho ~mha / Add: Commission on Reinsurance Accepted - Outside India

JV df
Previous Year

S VENKATARAMAN
V E KAIMAL
Eg. doH Qam_Z
dr. B. H$_b
COMPANY SECRETARY
FINANCIAL ADVISOR
{dVr` gbmhH$ma
H$nZr g{Md
306

Xm{`d / Liability
Mmby df
Current Year
JV df
Previous Year
Mmby df
Current Year
JV df
Previous Year
Mmby df
Current Year
JV df
Previous Year
102870
91540
2543287
2592269
5164133
5258247
102870
91540
2543287
2592269
5164133
5258247
699
727
216017
154849
699
727
208902
151633
7115
3216
10489
7975
284364
67352
1154061
968941
9738
7761
278531
396262
964026
1093293
751
214
5833
(328910)
190035
(124352)
93080
84292
2258923
2524917
4226089
4444155
93831
84506
2264756
2196007
4409009
4316587
(751)
(214)
(5833)
328910
(182920)
127569
47335
49020
1156520
1221904
3183122
3306521
47335
49020
1156520
1221904
3183122
3306521
54979
37903
1342185
765098
1884360
1083530
556
4617
44582
605267
96651
868196
102870
91540
2543287
2592269
5164133
5258247
MILIND KHARAT
{_{bX IamV
A`j -gh- ~Y {ZXoeH$
307

go{H$V Ho$e bmo {ddaU / CONSOLIDATED CASH FLOW STATEMENT


31 _mM 2016 H$mo g_m Ad{Y Ho$ {bE g_o{H$V H$m \$bmo {ddaU
CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2016
I. MmbZ H$m`m] go H e \$bmo / Cash Flow from the Operating Activities
A{J_ Am`, ew gh ~r_m g{hV nm{bgrYmaH$m| go mV r{_`_/ Premium received from
JV df /
Previous Year
134934744
116181638
160447
150675
(1853924)
(2056553)
gh~u_mH$VmAm| H$mo AXm`Jr, ew Xmdo go m Am`/ Payments to coinsurers, net of claims recovery
(14883143)
(10534351)
AXm {H$ò Jò Xmdo / Payments of claims
(96629273)
(77073118)
(6276648)
(6345422)
(32874773)
(22459184)
(17403)
(5105)
(1165474)
(1276272)
405186
(954777)
(1452323)
2938689
16134
103601
(19636449)
(1330180)
AgmYmaU H$m`m] Ho$ nMmV H$e \$bmo/ Cash flow after extraordinary activities
(19636449)
(1330180)
AgmYmaU H$m`m] go ew H$e \$bmo / Net Cash flow from extraordinary activities
(19636449)
(1330180)
(611831)
(736270)
50141
38959
(274542510)
(204392282)
275889572
193305643
15382368
14922759
(30299)
(32537)
policyholders, including advance receipts, net of coinsurance
A` Am` / Other Receipts

nwZ~u_mH$VmAm| H$mo AXm`Jr, ew H$_reZ Ama Xmdo / Payments to re insurers, net of commission
and claims
AXm {H$`m J`m H$_reZ Ama Xbmb H$_reZ / Payments of commission and brokerage
AXm {H$`m J`m A` MmbZ mM / Payments of other operating expenses
O_m, A{J_ Ama H$_Mmar G$U / Deposits, advances and staff loans
AXm {H$`m J`m Am` H$a/ dmngr (ew )/ Income taxes paid/ refund (net)
AXm {H$`m J`m godm H$a / dmngr (ew )/ Service tax paid / refund (net)
A` AXm`Jr / m{`m (ew )/ Other payments/collections (Net)
{dXoer {d{Z_` Ho$ n[adVZ _| hB bm^ / hm{Z/ Gain /Loss on Foreign Exchange Fluctuations
AgmYmaU H$m`m] Ho$ nyd H$e \$bmo/ Cash flow before extraordinary activities
AgmYmaU H$m`/ Extraordinary Activities

CASH FLOW STATEMENT
Mmby df /
Current Year
(` 000)
II. {Zdoe H$m`m] go
H$e \$bmo/ Cash Flow from the Investing Activities
WmB n[agnpV`m| H$m H$` /Purchase of fixed assets

WmB n[agnpV`m| H$s {~H$s go Am` / Proceeds from sale of fixed assets
{Zdoe H$m H$` (ew )/ Purchase of investments(net)
{Zdoe H$m {~H$s _y`/ Sale Value of Investments
m {H$am`m /`mO/bm^me / Rents/Interests/Dividends received
{Zdoe go g~{YV IM / Expenses relating to investments
308
32687
16137236
3138959
eoà nyOr Ho$ {ZJ_Z go Am`/ Proceeds from issuance of share capital
CYma go Am` / Proceeds from borrowing
CYma H$m nwZAXm`Jr/ Repayments of borrowing
(733955)
(1240005)
(808)
(761)
(734763)
(1240766)
ZH$X Ama ZH$X g_Vw` _| ew ~T>moVar / Net increase in Cash and Cash Equivalents
(4233976)
568012
df Ho$ ma^ _| ZH$X Ama ZH$X g_Vw` / Cash and cash equivalents at the beginning of the year
16176476
15608463
df H$s g_m{ na ZH$X Ama ZH$X g_Vw` / Cash and cash equivalents at the end of the year
11942500
16176476
{Zdoe H$m`m] go ew H$e \$bmo/ Net cash flow from the Investing Activities
III. {dVr` H$m`m] go
H$e \$bmo / Cash Flow from the Financing Activities
AXm {H$`m J`m `mO/bm^me / Interest/dividends paid

{Z`{V H$nZr Ho$ _mBZm[a{Q> eoàYmaH$m| H$mo AXm {H$`m J`m bm^me Ama {Z`{V H$nZr mam AXm {H$ò
Jò bm^me na bm^me H$a/ Dividend paid to minority shareholders of subsidiary and dividend
(204)
A` AXm`Jr / m{`m (ew )/ Other payments/collections (Net)
tax on dividend paid by subsidiary
{dVr` H$m`m] go ew H$e \$bmo / Net cash flow from the Financing Activities
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm
{ZXoeH$JU
Alok Tandon
A V Girija Kumar
A Hoda
DIRECTORS

gZXr boImH$ma
E\$AmaEZ 000511Eg
gZXr boImH$ma
gZXr boImH$ma
E\$AmaEZ 02510Eg
E\$AmaEZ 01931Eg
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S

^mJrXma
gX`Vm g . 201825
grE EZ. Ama gwaoe

^mJrXma
gX`Vm g . 021661
grE EZ. a_Ur

^mJrXma
gX`Vm g . 022438
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner

{XZmH$ / Date: 13 _B, 2016 / 13th May, 2016
309
CA N Ramani
Partner

CASH FLOW STATEMENT
IV. ZH$X Ama ZH$X g_Vw` na {dXoer {d{Z_` Xam| H$m ^md (ew)/
Effect of foreign exchange rates on cash and cash equivalents (net)

_hdnyU boIm Zr{V`m

31 _mM 2016 H$mo g_m df Ho$ g_o{H$V
_hdnyU boIm Zr{V`m d {dVr` {ddaU _| gp_{bV {Q>n{U`m

{dbmo{nV H$aZo Ho$ ~mX, Egmo{gEQg Ho$ ~mX A{YJhU
H$s {Zdb gn{m | ~XbZo | AnZr {hgoXmar Ho$ {bE
ImVm| Bg Vah Ho$ n[adVZ CnbY OmZH$mar Ho$ AmYma
na eof am{e Ho$ {bE AnZo ^S>ma Ho$ m` go OwS>o bm^
`m hm{Z Ho$ H$maU h&
1.A.8. g~ H$n{Z`m| | {Zdoe H$s bmJV Ama g~ H$n{Z`m|
| eoàm| Ho$ A{YJhU Ho$ g` ew n[agn{m Ho$ AeHo$
AVa (Ogm^r mbm hmo) H$mo JwS>{db `m nyOr Ama{jV
Ho$ $n | {dmr` {ddaU | A{^km{nV {H$`m J`m h &
hdnyU boIm Zr{V`m

1.
goH$Z Ho$ {gmV
1.A.
go{H$V {dmr` {ddaU ,{Z`H$ `yZmBQ>oS> B{S>`m
B`ya|g H$nZr {b{Q>oS> H$nZr Ama CgH$s {Z`{V
VWm g~ H$n{Z`m| Omo H$nZr Ho$ $n | gX{^V h,
Ho$ g~Y | h, go{ H$V {dmr` {ddaU H$mo {ZZ{bpIV
AmYma na V`ma {H$`m J`m h:1.A.1. boIm mZH$ (EEg) 21 - go{H$V {dmr` {ddaU Ho$
AZwgma H$nZr Ama CgH$s AZwfJr H$nZr Ho$ {dmr`
{ddaUm| H$mo nyar Vah go AVa-gyh A{Yeofm| Ama
AVa-gyh Ho$ boZXoZ H$mo {dbmonZ H$aZo Ho$ ~mX,
gn{m, Xo`VmAm|, Am` Ama `` Ogo Xm| Ho$ ImVmy`m| H$mo OmoS>H$a bmBZ go bmBZ Ho$ AmYma na
go{H$V {H$`m J`m h &
1.A.2. AZwfJrH$n{Z`m||eoàm| Ho$ A{YJhU Ho$ gèw
gn{m`m| AmaAZwfJrH$nZr|{Zdoe H$s bmJV Ho$ AVa
H$mo{dmro` {ddaU o JwS>{dbHo$ $n | `m nyOr [aOd(
Ogm^r mbm hmo) Ho$$n o A{^km{nV {H$`m J`mh &
1.A.3. AZwfJr H$n{Z`m| | {Zdoe H$s {~H$s go m Am` Ama
CgH$s gn{m d {~H$s H$s VmarI H$mo XoZXm[a`m| H$s
dhZ-am{e Ho$ ~rM Ho$ AVa Ho$ bm^ Ama hm{Z H$mo
AZwfJr H$nZr | {Zdoe Ho$ {ZnQ>mZ na bm^ `m hm{Z Ho$
go{H$V {ddaU | A{^km{nV {H$`m J`m h&
1.A.4. df Ho$ {bE {Z`{V H$nZr Ho$ go{H$V ew bm^ Ho$
mBZm[aQ>r {hV Ho$ eoà H$mo m` H$aVo hE H$nZr Ho$
eoàYmaH$m| H$mo Xo` ew Am` H$s JUZm H$aZo Ho$ {bE
gyh H$s Am` Ho$ gmnoj gm`mo{OV {H$`m J`m h &
1.A.5. AZwfJr H$nZr H$s go{H$V ew gn{m | mBZm[aQ>r
{hV Ho$ eoà H$mo m` {H$`m J`m h Ama go{H$V VwbZ
n | H$nZr Ho$ eoàYmaH$m| H$s B{$Q>r Ama Xo`VmAm|
H$mo nWH$ $n go VwV {H$`m J`m h&
1.A.6. g~ H$n{Z`m| | {Zdoe boIm mZH$ (EEg) 23 go{H$V {dmr` {ddaU | g~ H$n{Z`m| | {Zdoe Ho$
{bE boIm o {Z{X> Ho$ AZwgma h &
1.A.7. g~ H$n{Z`m| Ho$ A{YJhU nmV H$s {Zdb gn{m
| n[adVZ | AnZr {hgoXmar Ho$ {bE ImVm| H$nZr hX
VH$ H$nZr Ama bm^ Ho$ AnZo ~`mZ Ho$ m` go AnZo
{hgo H$s hX VH$ CgHo$ gh`mo{J`m|, Ama ZwH$gmZ Ho$
~rM boZ-XoZ go Cn AMoVZ bm^ Ama ZwH$gmZ H$mo
1.A.9.
a)
(i)
(ii)
(iii)
Am)
310
Ohm VH$ g^d hAm h, boZ-XoZ Ama A` KQ>ZmAm|

Ho$ go{H$V {dmr` {ddaU H$s V`mar Ho$ {bE EH$ gmZ
boIm Zr{V`m| H$m Cn`moJ {H$`m J`m h Ama H$nZr
Ho$ AbJ {dmr` {ddaU Ho$ $n | V`ma {H$`m J`m h &
B{S>`m BQ>aZob ~rm Ho$ {dmr` {ddaU H$mo qgJmnwa
H$n{Z`m| boIm 50 H$s Amd`H$Vm Ho$ AZwgma qgJmnwa
{dmr` [anmo{Q>J mZH$m| (E$AmaEg) Ho$ AZwgma V`ma
{H$`m J`m h& H$nZr H$s boIm Zr{V H$s VwbZm |
{ZZ${bpIV Xm| | hd nyU V`m|H$ H$m AVa Bg
H$ma h;
Agm OmopI Ama{j{V Ho$ {bò g~ H$n{Z`m| H$s
boIm Zr{V H$m AZwnmbZ {H$`m J`m h & Agm OmopI
Ama{j{V | AZm{OV r{` Ama{j{V Ama r{`
H$s H$r Ama{j{V H$s am{e em{b h & r{` H$s
H$r Ama{j{V H$m AmH$bZ hm{Z AmH$Som na ~rmH$H$
n{V Ho$ AmYma na {H$`m J`m h Ama m`Vm Xr J`r
h ,O~ VwbZ n H$s VmarI H$mo Mmby `H${$JV ~rm
H$s Agm nmbrgr Ad{Y Ho$ {bE Xmdo Ama `` H$s
AZwm{ZV am{e AZ{OV r{` Ama{jV go A{YH$ hmo
AZ{OV r{` [aOd H$s JUZm {ZZ{bpIV AmYma
na H$s OmVr h
gwr H$mJm} ,{OgHo$ {bE 25% Xa bmJy h ,H$mo N>moS>H$a
A` `dgm` Ho$ g^r `j Ama EopN>H$ nwZ~um dJ
Ho$ {bE 365 dt n{V h &
gwr H$mJm} H$mo N>moS>H$a, g^r loUr Ho$ gpY nwZ~um
H$mamo~ma | r{` H$m 40% Ama gwr H$mJm} Ho$ {bE
25% h &
gwr H$mJm} H$mo N>moS>H$a `j Ama EopN>H$ nwZ~um
`mnma Ho$ {bE ~rm{H$H$s` A{YJhU bmJV Ho$ AmYma
na JUZm H$s J`r h&
AmW{JV A{YJhU bmJV
Significant Accounting Policies and Notes Forming Part of

Consolidated Financial Statements As on 31st March 2016
1. PRINCIPLES OF CONSOLIDATION
associates Profit or Loss through its reserves for the

balance, based on available information.
The consolidated financial statements relate to United

India Insurance Company Limited, the holding company
and its subsidiary company and associates (together
referred as the company. The consolidated financial
statements have been prepared on the following basis:
1.A.8. The difference between the cost of investment in the

associates and the share of net assets at the time of
acquisition of shares in the associates is identified in the
financial statements as Goodwill or Capital Reserve as the
case may be.
1.A.1. The financial statements of the Company and its

subsidiary company are combined on a line-by-line
basis by adding together the book values of like items
of assets, liabilities, income and expenses, after fully
eliminating intra-group balances and intra-group
transactions in accordance with Accounting Standard
(AS) 21 - Consolidated Financial Statements
1.A.9. As far as possible, the consolidated financial

statements are prepared using uniform accounting
policies for like transactions and other events in similar
circumstances and are presented in the same manner
as the Companys separate financial statements,
except for India International Insurance Pte. Ltd., an
associate have been prepared in accordance with
Singapore Financial Reporting Standards (FRS) as
required by the Singapore Companies Act, Cap. 50. As
compared to Accounting policy of the company, the
material difference are with respect to:
1.A.2. The difference between the cost of investment in the

subsidiaries, over the net assets at the time of acquisition
of shares in the subsidiaries is recognised in the financial
statements as Goodwill or Capital Reserve, as the case
may be.
a) Reserves for unexpired risks, the accounting policy

followed by Associate
1.A.3. The difference between the proceeds from disposal of

investment in subsidiaries and the carrying amount of its
assets less liabilities as of the date of disposal is
recognised in the consolidated Statement of Profit and
Loss being the profit or loss on disposal of investment in
subsidiary.
Reserves for unexpired risks comprises the sum of

unearned premium reserves and premium deficiency
reserves. Premium deficiency reserves are derived
using actuarial methods on loss statistics and are
recognised when the expected value of claims and
expenses attributable to the unexpired periods of
policies in force at the balance sheet date for any line
of business exceeds the unearned premium reserves.
1.A.4. Minority Interests share of net profit of consolidated

subsidiary for the year is identified and adjusted against
the income of the group in order to arrive at the net
income attributable to shareholders of the Company.
The unearned premium reserves are computed on

the following basis:
1.A.5. Minority Interests share of net assets of consolidated

subsidiary is identified and presented in the consolidated
balance sheet separate from liabilities and the equity of
the Companys shareholders.
1.A.6. Investment in Associate Companies has been accounted
under the equity method as per Accounting Standard (AS)
23 - Accounting for Investments in Associates in
Consolidated Financial Statements.
1.A.7. The Company accounts for its share in change in net
assets of the associates, post-acquisition, after
eliminating unrealised profits and losses resulting from
transactions between the Company and its associates to
the extent of its share, through its Statement of Profit and
Loss to the extent such change is attributable to the
(i)
365th method for all direct and facultative

reinsurance classes of business other than
marine cargo, for which 25% is applicable;
(ii)
In the case of all classes of treaty reinsurance

business, other than marine cargo, 40% of the
premiums and for marine cargo, 25% of the
premiums; and
(iii)
the actual acquisition cost is taken into account

in the computation in respect of direct and
facultative reinsurance business, except for
marine cargo.
b) Deferred acquisition costs

311

1.A.
Significant Accounting Policies
3. AmH$bZ H$m `moJ

m` drH$V boIm Zr{V Ho$ AZwgma V`ma {H$`m J`m {dVr`
{ddaU H$s Anojm h {H$ ~YZ H$mo n[agn{V`m|, Xo`VmAm|,
Am` Ama `` Ed AmH$p_H$ Xo`VmAm| Ho$ H$Q>Z Ho$ g~Y _|
gy{MV am{e na hmoZodmbo ^md Ho$ {bE AmH$bZ Ama AJrH$ma
{H$`m OmE & {dVr` {ddaU H$s VmarI H$mo Cn`xV Vdm|
Ama n{apQ>`m| Ho$ ~YZ _y`mH$Z Ho$ AmYma na {dVr`
{ddaU _| AmH$bZ d AJrH$ma H$mo gp_{bV {H$`m J`m &
`{X boIm AZw_mZ _| H$moB gemoYZ hmo Vmo CgH$m A{^km{
Cg VmarI go Mmby Ama AmZodmbr Ad{Y _| {H$`m OmEJm &
[dVr` {ddaU H$s V`mar _| `wV AmH$bZ d AJrH$ma _| go
dmV{dH$ n[aUm_ AVa hmoJm &
4. eoàYmaH$m| / nm{bgrYmaH$m| H$s {Z{Y
4 .1
eoàYmaH$m| H$s {Z{Y _| eoà nyOr, gmm_m` Ama{jV, nyOr
Ama{jV VWm {d{dY / {deof Ama{jV gp_{bV h &
4 .2. nm{bgrYmaH$m| H$s {Z{Y _| VH$ZrH$s Ama{jV AWmV Ag_m
Omo{I_ Ama{jV Ed ~H$m`m Xmdm| hoVw AZw_m{ZV Xo`Vm`| gp_
{bV h &
5 r{_`_
5.1
`j H$mamo~ma
5.1 .1 Omo{I_ H$s drH${V na r{_`_ Am` H$s _m`Vm Xr OmVr h
VWm JUZm 5.3 Ho$ AZwgma AZ{OV r{_`_ hoVw Ama{jV _|
~T>mVr `m H$Q>mVr H$mo g_m`mo{OV {H$`m J`m h&
5.1.2. df Ho$ XmamZ Omar nR>mH$Zm| Ho$ AmYma na r{_`_ dmngr H$m
AmH$bZ {H$`m J`m h &
5.2
nwZ~u_m
5.2.1. {dXoer ~r_m H$n{Z`m| go 31 _mM VH$ m {ddaU Ho$ AmYma
na r{_`_ Am` H$s _m`Vm Xr J`r h &
5.2.2 ^maVr` ~r_m H$n{Z`m| H$s r{_`_ Am` g~{YV df H$s boIm
g_m{ VH$ m {ddaU Ho$ AmYma na _m`Vm Xr J`r h &Ohm
boIm H$s g_m{ VH$ {ddaU m Zhro {H$`m J`m dhm AZw_mZ
Ho$ AmYma na _m`Vm Xr J`r h &
5.2.3 MmbZ H$m`mb`m| mam ~r_m boIZ {H$ò Jò r{_`_ Ho$
AmYma na AnU r{_`_ H$mo _m`Vm Xr J`r h & Ohm nyU
{ddaU Am h dhm CnbY {ddaU Ho$ AmYma na nwZ~u_m
AnU H$mo AZw_m{ZV {H$`m OmVm h &
5.2.4. nyb A`mnU/drH${V boIm ~XrH$aU VH$ Or.AmB.gr.(nyb
~YH$) go m {ddaU Ho$ AZwgma AmVH$dmXr nyb aoQ>am|
Ama _moQ>a VVr` nj nyb / AdrH$V nyb aoQ>am| go g~{YV
r{_`_ Xmdo, godm ^ma, {Zdoe, Am` d `` H$m AmH$bZ
{H$`m OmVm h & AmVH$dmXr nyb/_moQ>a VVr` nj nyb/
{dmr` df Ho$ XmamZ Zò ~rm AZw~Y mJ H$aZo Ama `m/

Mmby~rm AZw~Y Ho$ ZdrH$aU Ho$ g~Y | CnJV H$reZ
Ama A`m A{YJhU bmJV, bo{H$ZOmo nadVu {dmr` Ad{Y
gog~{YV h, Ama AmJmr amOd grm go m` H$s grm
VH$ AmW{JV {H$`m J`mh & AmW{JV A{YJhU bmJV
(S>rEgr) H$s JUZmdmV {dH$H$reZ na365 dtn{Vna
{H$`m J`mh & A` g^r A{YJhU bmJV H$mo CnJV `` Ho$
$n| A{^km{ h &
hm{Z H$s grjm òH$ [anmo{Q>J H$s VmarI H$mo H$s OmVr
h Ama `{X Amd`H$ hmo Vmo yb H$sV y` dgybr `mo`
am{e o Ad{bpIV {H$`m OmVm h&
1.A.10 {Z`{V Ama g~ H$n{Z`m| Ho$ {dmr` {ddaU H$m
goH$Z H$nZr H$s [anmo{Q>J VmarI AWmV 31 mM
2016 H$mo V`ma {H$ò OmVo h & [anmo{Q>J VmarI H$mo g~
H$nZr B{S>`m BQ>aZoeZb B`ya|g . {b{Q>oS> H$m {dmr`
{ddaU CnbY Zht h, & BZH$m goH$Z AVZ CnbY
{dmr` {ddaU Ho$ AmYma na {H$`m J`m h &
1.8) H$nZr goH$Z | em{b H$s JB AZwfJr H$nZr Ama g~
H$n{Z`m| H$s gyMr Ama H$nZr H$m Am{Ynò {ZZ H$ma h

H$nZr H$m Zm
2. boIm
Am{Yn`
H$m %
gmdoeZ
dmbo Xoe
{Z`{VV H$nZr
Oo{ZW go`y[aQ>rO ES>
BdoQ>_oQ>g {b{_Q>oS>
g~ H$nZr
B{S>`m BQ>aZoZb B`yag
|
{b
69 .45 %
^maV
20 . 00 %
qgJmnwa
hoW B`ya|g Q>r nr E

Am\$ B{S>`m {b
23 . 75 %
^maV
nanam
{dVr` {ddaU H$s V`mar Eo{Vhm{gVbmJV n[anmQ>r Ho$ VhV
boIm Zr{V Omo ^maVr` ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU
(~r_m H$n{Z`m| Ho$ {dVr` {ddaU Ed boIm narjm [anmoQ> H$s
V`mar) {d{Z`_ 2002, ~r_m A{Y{Z`_ 1938, ~r_m
{d{Z`m_H$ Ama {dH$mg m{YH$ma A{Y{Z`_, 1999, ~r_m
{d{Z`m_H$ Ama {dH$mg m{YH$aU mam g_` g_` na Omar
n[an / AmXoe / A{YgyMZm`|, H$nZr A{Y{Z`_ 2013
H$s Ymam 133 Ho$ gmW n{R>V H$nZr (boIm) {Z`_ 2014 Ho$
{Z`_ 7 Ho$ VhV A{Ygy{MV bmJy boI _mZH$ AmYma na
{H$`m J`m h &
312
3. USE OF ESTIMATES:
The preparation of financial statements in conformity with
the generally accepted accounting principles requires the
management to make estimates and assumptions that affect
the reported amount of assets, liabilities, revenue and
expenses and disclosure of contingent liabilities as of the
date of the financial statements. The estimates and
assumptions used in the accompanying financial statements
are based upon the managements evaluation of the relevant
facts and circumstances as of the date of the financial
statements. Actual results may differ from estimates and
assumptions used in preparing these financial statements.
the 365th method on actual commission. All other acquisition

costs are recognised as an expense when incurred.
An impairment review is performed at each reporting date
and, if required, the carrying value is written down to the
recoverable amount.
1.A.10. The financial statements of the subsidiary and
associates used in the consolidation are drawn up to
the same reporting date as that of the Company i.e.
31st March, 2016, except for India International
Insurance Pte. Ltd., an associate for which financial
statements as on reporting date are not available.
These have been consolidated based on latest
available financial statements.
4. SHAREHOLDERS/POLICYHOLDERS FUNDS:
The list of subsidiary company, and associates which are

included in the consolidation and the company holdings
therein are as under:
Name of the Company
Ownership
in %
69.45%
Shareholders funds consist of Share Capital, General

Reserve, Capital Reserve, and Miscellaneous/ Special
Reserves.
4.2.
Policyholders funds consists of technical reserves

i.e. Unexpired Risk Reserves plus estimated liability for
outstanding claims.
5. PREMIUM:
5.1
Direct Business:
5.1.1
Premium income is recognized on assumption of risk and

adjusted for a increase or decrease in reserve for unearned
premium, calculated as per 5.3 below.
5.1.2
Premium refunds are accounted on the basis of endorsements

passed during the year.
5.2
Reinsurance:
5.2.1
Premium income is recognized based on the returns received

from foreign reinsurance companies received upto
31st March.
5.2.2
Premium Income in respect of Indian Reinsurers is recognized

based on returns received upto finalization of accounts of the
relevant accounting year. Wherever returns are not received
upto finalization of accounts, the same has been estimated.
5.2.3
Premium on cessions are recognized on the basis of the

premium underwritten by the operating offices. Wherever full
technical particulars are not available, reinsurance cessions
are estimated on the basis of information available.
5.2.4
Pool Acceptances/ Cessions : Premium, Claims, Service

charges, Investment income and expenses in respect of
Terrorism Pool retro and Motor TP Pool / Declined Pool retro
are accounted as per the statements received from GIC (Pool
Administrator) upto finalisation of accounts. Premium,
Claims, Service charges and expenses of our cessions in
Country of
Incorporation
Subsidiary company
Zenith securities and
Investments Ltd.
4.1.
India
Associates
India
International
Insurance Pte. Ltd.
20.00%
Singapore
Health Insurance TPA of

India Ltd.
23.75%
India
2. ACCOUNTING CONVENTION:
The financial statements are prepared under the historical
cost convention in accordance with the accounting principles

prescribed by The Insurance Regulatory and Development
Authority of India (Preparation of Financial Statements and
Auditors Report of Insurance Companies) Regulations, 2002,
the Insurance Act, 1938, the Insurance Regulatory and
Development Authority Act, 1999, Orders / Circulars /
Notifications issued by Insurance Regulatory and
Development Authority Of India (IRDAI) from time to time, the
applicable Accounting Standards notified under Section 133
of the Companies Act, 2013 read with rule 7 of the Companies
313

1.B.
(Accounts) Rules, 2014.
Commission and other acquisition costs incurred during

the financial period that vary with and are related to
securing new insurance contracts and/or renewing
existing insurance contracts, but which relates to
subsequent financial periods, are deferred to the extent
that they are recoverable out of future revenue margins.
Deferred acquisition costs (DAC) are calculated using

5.3.
^m[aVm XoVo hE ~mQ>o JE h & nm{bgr Q>n na hE IM H$mo

grYo g~{YV amOd ImVo _| {b`m J`m h & df Ho$ ma^
_| nm{b{gYmaH$m| VWm eoàYmaH$m| H$s {Z{Y Ho$ AmYma na
{Zdoe go g~{YV IM, Ogo gwa{jV A{âjm, `mO d
bm^me dgybr ~H$ ^ma Am{X H$mo amOd Ed bm^-hm{Z
ImVm| Ho$ ~rM {d^m{OV {H$`m J`m h &
7.1.1
H$m ^mOZ
nm{bgrYmaH$m| go g~pYV {d{dY Om eof H$mo bm^ Ama
hm{Z ImVo | {bm Jm h &
7.2
_y`hmg
7.2.1
H$nZr A{Y{Z`_ 1956 H$s AZwgyMr 11 Ho$ AZwgma _yb
bmJV Ho$ 5%VH$ Ho$ Ad{eQ> _y` na Ama OrdZ Ho$
bm^Xm`H$ n[agnpV`m| Ho$ AmYma na Ad{b{IV _y`
Umbr na Wm`r n[agnpV`m| H$m Ad_y`Z {H$`m J`m h &
7.2.2. brO hmoS> n[agnpV`m| H$mo brO H$s Ad{Y na n[aemo{YV
{H$`m J`m h &
7. 3.
H$_Mmar gw{dYm
7.3.1
AnH$mbrZ H$_Mmar gw{dYm
H$_Mmar mam XV godm Ho$ {bE AnH$mbrZ H$_Mmar
gw{dYmAm| H$s am{e H$mo XV H$aZo H$s `mem h & `h am{e
H$_Mmar mam XmZ H$s JB godm Ad{Y _| _m`Vm Xr J`r h
7.3.2
nadVu H$_Mmar gw{dYm `moOZm`|
n[a^m{fV `moJXmZ godm{ZdV gw{dYm `moOZmAm| Ho$ ^wJVmZ
H$mo `` Ho$ $n _| ^m[aV {H$`m J`m h My{H$ do Xo` _mZo
OmVo h &
n[a^m{fV gw{dYm `moOZmAm| hoVw gw{dYmAm| H$s bmJV H$m
mdYmZ moOoQ>oS> `y{ZQ> Ho${S>Q> Umbr VWm òH$ VwbZ
n H$s VmarI H$mo ~r_mH$H$ mam {H$ò Jò _y`mH$Z Ho$
AmYma na AmH$bZ {H$`m OmVm h& {Og Ad{Y _| `h K{Q>V
hmoVm h Cg Ad{Y Ho$ bm^ Ama hm{Z ImVo _| dmgV{dH$
bm^ Ama hm{Z H$mo nyU $n go _m`Vm Xr OmVr h & nyd
godm bmJV H$s _m`Vm {Z{hV bm^ Ho$ hX VH$ H$s JB
h Ama A`Vm grYr aoIm AmYma na AmgVZ Ad{Y VH
$n[aemo{YV {H$`m J`m h O~ VH$ gw{dYm`| {Z{hV h &
8 {dXoer _wm H$s gm{ / n[adVZ :
8.1
{dXoer emIm H$s {XZm{H$V VwbZ n Ho$ Am` d `` VWm
n[agnpV d Xm{`d Ama ^maVr` MmbZ _| {dXoer _wm
gm{ {ZZ{b{IV H$ma go {H$`m J`m h
8.1.1. {V_mhr Xam| Ho$ AmgV Xa na Am` d `` &
8.1.2
VwbZ n H$s {XZmH$ {dVr` _Xm| H$mo Cg VmarI na
M{bV {d{Z_` Xam| na n[ad{VV {H$`m J`m h &
8.2.
MmbZ H$s g_m{ VH$, {dXoer emIm (Ja g_o{H$V) go
g~{YV eof H$s gm{ Ho$ H$maU hE _wm AVa H$mo {dXoer
_wm gm{ Ama{jV _| g{MV {H$`m
AdrH$V nyb go g~{YV h_mao A`mnU H$m r{_`_ Xmdo,

godm ^ma Ama `` AmH$bZ 31 _mM VH$ {H$`m J`m &
Ag_m Omo{I_ hoVw Ama{jV
Ag_m Omo{I_ hoVw Ama{jV nadVu boIm Ad{Y hoVw
Am~{Q>V Ama ew r{_`_ H$mo XemVr h Omo nadVu boIm
Ad{Y hoVw Ag_m OmoI_ Ho$ {bE Ama{jV ew r{_`_ na
50% h naVw g_wr nmoV `dgm` Ama AmVH$dmXr r{_`_
Ho$ {bE ew r{_`_ na 100% h &
6. Xmdm
6.1
`j H$mamo~ma
Am) {d{Z_` _| n[adVZ bm^/ hm{Z g{hV Xmdm| go g~{YV
g_V IMm] H$mo `j $n go Xmdo Ho$ {hgo Ho$ $n _|
AmH${bV {H$`m J`m h&
B) df H$s g_m{ na ~H$m`m Xmdo
l
df H$s g_m{ na ~H$mò Xmdm| Ho$ {bE AZw_m{ZV Xo`Vm
H$m mdYmZ, gdjoU [anmoQ> ,AJUr H$n{Z`m| H$s gyMZm
,nyd AZw^d, A` bmJy {d{Y boIm H$s g_m{ H$s {V{W
VH$ JmhH$m| Ama A` moVm| mam CnbY H$am`r JB
OmZH$mar Ho$ AmYma na {H$`m J`m h &
l
AnhMmZ _moQ>a VVr` nj Xmdm| Ho$ g~Y _| H$nZr H$r
Xo`Vm AZw_m{ZV Xo`Vm Ho$ 100% VH$ H$m mdYmZ {H$`m
J`m h & A` _m_bmo _| AZw_m{ZV Xo`Vm H$s 1/3 am{e
VH$ H$m mdYmZ {H$`m J`m h &
6.2
nwZ~u_m
Am) AmV[aH$ Amd{V`m|( ^maVr Ama {dXoer ) Ho$ g~Y _|,
~H$mò Xmdm| Ho$ {bò Xo`Vm H$m AmH$bZ boIm H$s g_m{ VH$
m {ddaU na AmYm[aV h & Ohm boIm g_m{ VH$ {ddaU
Am hmo Vmo Cgo ~r_mH$H$ _y`mH$Z na AmH${bV {H$`m J`m
h &
6.3
CnJV bo{H$Z gy{MV/ CnJV bo{H$Z n`m $n go Agy{MV
CnJV bo{H$Z gy{MV Zht {H$E JE Xmdm| VWm CnJV bo{H$Z
n`m $n go Agy{MV Xmdm| Ho$ g~Y _| ~r_mH$H _y`mH$Z Ho$
AmYma na n[aH${bV {H$`m OmVm h &
6.4
C~a Ama Xmdm go g~pYV dgy{b`m :
Xmdm| H$s dgybr Ama C~a H$s {~H$s Ho$ ~mX, Cgo Xmdm| Ho$
{hgm~ _| {b`m J`m h &
7. ~YZ IM
7.1
IM H$m {d^mOZ
~YZ IM H$mo amOd ImVo _| gH$b `j r{_`_ Ed
drH$V nwZ~u_m Ho$ AmYma na ApZ VWm {d{dY H$mamo~ma Ho$
{bE òH$ H$mo 100% Ed g_wr H$mamo~ma Ho$ {bE 75%
314
Reserve For Unexpired Risk:

Reserve for unexpired risk is made on the amount
representing that part of net premium written which is
attributable to, and allocated to the succeeding accounting
periods determined at 50% of net premium, except in the
case of Marine Hull business and Terrorism, where it is made
at 100% of net premium.
6. CLAIMS:
6.1
Direct Business:
7.1.1
Sundry credit balances not pertaining to policyholders

balances are written back to profit and loss account.
7.2
Depreciation:
7.2.1
Depreciation on fixed assets is charged on written down

value method based on useful life of the Assets and
considering residual value upto 5% of original cost as per
Schedule II to the Companies Act, 2013.
7.2.2
Cost of Lease Hold properties is amortised over the period of

Lease.
7.3
Employee Benefits:
a. Claims are recognized as and when intimated.

b. All expenses directly attributable to claims including
exchange fluctuations gains / losses are accounted as
part of claims.
c. Outstanding claims at the year-end:l
6.2
Estimated Liability for outstanding claims at the year-end

are provided on the basis of survey reports, advices of
Leaders, past experience, other applicable laws,
information provided by clients and other sources upto
the date of finalization of accounts,.
7.3.1
In respect of unidentified motor third party claims

outstanding for more than one year, provision is made at
the rate of 100% of the estimated liability. In other cases,
provision is made at the rate of 1/3rd of the estimated
liability.
7.3.2
Reinsurance:
a. Claims are recognized as and when intimated.
b. Liability for outstanding claims in respect of Inward
Acceptances (Indian and Foreign) is based on returns
received up to finalization of accounts. Wherever returns
are not received upto finalization of accounts, the same
has been estimated on actuarial valuation.
6.3
IBNR/IBNER:
Claims Incurred But Not Reported (IBNR) and Incurred But
Not Enough Reported (IBNER) is made on the basis of
actuarial valuation.
6.4
Post Employment benefit Plans:

Payments to defined contribution retirement benefit schemes
are charged as an expense as they fall due.
For defined benefit schemes, the cost of providing benefits is
determined using the Projected Unit Credit Method, with
actuarial valuations being carried out at each balance sheet
date. Actuarial gains and losses are recognized in full in the
Profit and Loss account for the period in which they occur.
Past service cost is recognized immediately to the extent that
the benefits are already vested, and otherwise is amortized
on straight-line basis over the average period until the
benefits become vested.
8. TRANSLATION/CONVERSION OF FOREIGN CURRENCIES:

8.1
Salvage and Claim Related Recoveries:

Recoveries under claims and disposal of salvage are
accounted on realisation and are credited to claims.
8.1.1
8.1.2
7. EXPENSES OF MANAGEMENT:
7.1
Short-term employee benefits:

The undiscounted amount of short-term employee benefits
expected to be paid in exchange for the services rendered by
employees is recognized during the period when the
employee renders the service.
Apportionment of expenses:
8.2
Expenses of Management are apportioned to the Revenue

Accounts on the basis of gross direct premium plus
reinsurance accepted, giving weightage of 75% for Marine
315
Items of income and expenditure, Monetary items as at the

Balance Sheet date of foreign branch and foreign currency
transactions in Indian operations are translated as under:
Items of income and expenditure at the quarterly average
rates.
Monetary items as at the Balance Sheet date are converted
at the exchange rates prevailing at that date.
Exchange differences on account of translation of the
balances relating to foreign branch (non-integral) is
accumulated in a Foreign Currency Translation Reserve until
the closure of the operation. On the closure of this non-

5.3
business and 100% for Fire and Miscellaneous business.

Expenses relating to policy stamps and reinsurance are
directly taken to respective Revenue Accounts. Expenses
relating to Investment, such as safe custody, collection of
interest/dividend, bank charges etc., are apportioned
between Revenue Accounts and Profit and loss Account
based on policyholders and shareholders funds as at the
beginning of the year.
respect of Terrorism Pool / Motor TP Pool / Declined Pool are

accounted upto 31st March.

9.8
A) {Z{Y mam Kmo{fVmZwgma VwbZ n H$s VmarI na

`yMwAb \$S> Ho$ `w{ZQ>m| _| {Zdo{eV `w{ZQ>m| H$m _y` ew
n[agnpV _y` na {ZYm[aV {H$`m J`m h VWm Am bm^
/ hm{Z H$mo ghr _y` n[adVZ ImVo _| _m`Vm Xr J`r h &
Am) d|Ma H$m{nQ>b \$S> {Zdoe H$mo bmJV na {ZYm[aV
{H$`m J`m h Ama {Zdoe Ho$ Ad_y`Z hoVw mdYmZ {H$`m
J`m h Ohm ew n[agnpV _y` VwbZ n H$s VmarI na
Ho$ bmJV go H$_ hmo & `{X ew n[agnpV _y` VwbZ n
H$s VmarI na CnbY Zht hmo Vmo VwbZ n Ho$ Amgnmg
H$s VmarI H$mo CnbY ew n[agnpV _y` {b`m OmEJm &
9.9
n[agnpV {d^mOZ ,Am H$s nhMmZ Ama G$U /A{J
/G$U nV Ho$ mdYmZ Ho$ g~Y | H$nZr ^maVr ~rm
{d{ZmH$ {dH$mg m{YH$ma mam {ZYm[aV {ddoH$nyU {Zm|
H$m AZwnmbZ H$aVr h &
9.10
hm{Z A{^kmV h
9.10.1 H$nZr Ho$ gm`me eoàm| _| Ohm VrZ nyddVu dfm] Ho XmamZ
{ZaVa hm{Z CnJV h Ama nyOr {OgH$s hm{Z Am{eH$ $n
go `m nyUV: hB h `m Ohm JV VrZ dfm] Ho$ {bE boIm
nar{jV dm{fH$ boImE CnbY Zhr h &
9.10.2 {Zdoem| H$mo {ZZ{b{IV H$ma go {ZYmaU {H$`m J`m h
1)g{H$` $n go `mnm[aV gm`me eoàm| H$mo CZHo$ ~mOma
_y` na {bIm OmEJm
2) Ja g{H$` $n go `mnm[aV gm`me eoàm| H$mo
`maodma _y` na {bIm OmEJm Ama Ohm `maodma _y`
G$Um_H$ h, dhm òH$ H$nZr H$mo 1/- nò Ho$ _y`
na {bIm OmEJm &
9.10.2.1 amOd / bm^ Ama hm{Z ImVo _| nyd _| A{^kmV hm{Z
H$s {VdVZ &
A) g{H$` $n go `mnm[aV gm`me eoàm| Ho$ {bE amOd
/ bm^ Ama hm{Z ImVo _| A{^km{nV {H$`m OmEJm &
(A) `{X g{MV hm{Z nyU $n go aXX {H$`m J`m Ama
(Am) H$nZr Zo nyddVu 3 gmbm| Ho$ {bE ew bm^ Xem`r h
Ama
B) g{H$` $n go Z `mnm[aV gm`me eoàm| Ho$ {bE amOd
/ bm^ Ama hm{Z ImVo _| A{^km{nV {H$`m OmEJm &
9.10.3 A{J_ H$s H${V H$mo N>moS>H$a A{Y_mZ eoàm| Ho$ {bE
100% VH$ Wm`r Ad_yy`Z H$s `dWm H$s J`r h &
Wm`r Ad_y`Z {ZZ{b{IV H$ma go AmH$bZ {H$`m J`m
h :
A) A{Y_mZ bm^me bJmVma VrZ dfm] Ho$ {bE ^wJVmZ Zht
{H$`m J`m (`m )
Am) n[andVm am{e VrZ dfm] Ho$ {bE Am h (`m )
J`m h & Ja g_o{H$V {dXoer MmbZ H$s g_m{ na _wm AVa

g{MV am{e Omo b{~V Ama MmbZ go g~{YV hmo, H$mo Cg
df H$s g_m{ Ho$ Am` `m `` Ho$ $n _| _mZm OmEJm &
8.3. ^maVr` H$mamo~ma _| {dXoer _wm gm{ go CnJV AVa
g~{YV amOd ImVo / bm^ d hm{Z ImVo _| Ogm ^r bmJy
hmo, _| _m`Vm Xr J`r h &
9. G$U d {Zdoe
9.1
eoà / ~mS> /G$U nm| Ho$ H$` / {~H$r H$ama Ho$ {XZmH$
na {b`m J`m h (`mnma VmarI) &
9.2.
{Zdoe Ho$ bmJV _| ~Yn gofU H$a (Ohm bmJy hmo),
A{YJhU na r{_`_, Ama {Zdoe H$s m{ Ho$ {bE CnJV
A` `j IM Ama Cg na A{OV ew H$_reZ/ewH$
gp_{bV h &
9.3
gm`me eoà {Oh| XrKH$mbrZ {Zdoe Ho$ $n _| _mZm J`m
h H$mo N>moS>H$a VwbZ n H$s VmarI go 12 _hrZm| Ho$ AXa
n[and {Zdoem| H$mo AnH$mbrZ {Zdoe Ho$ $n _| dJuH$V
{H$`m J`m h & g_V A` {Zdoem| H$mo XrKH$mbrZ {Zdoem|
Ho$ $n _| dJuH$V {H$`m J`m h &
9.4
An Ad{Y _wm ~mOma XVmdoO Ogo O_m _mU-n,
dm{U` H$mJO Ama gr~rEbAmo, {Og na H$ama Ho$ g_`
Ny>Q> {X`m J`m, Ch| ~Q>Q>o _y` na AmH${bV {H$E JE h &
9.5
gaH$mar {V^y{V`m| Ama {VXo` A{Y_mZ eoà g{hV G$U
{V^y{V`m| _| {Zdoe H$mo bmJV na Xem`m J`m h `h n[aemoYZ
Ho$ A`YrZ hmo & AmgV bmJV na AmYm[aV r{_`_ H$m
n[aemoYZ {H$`m J`m h & `dhm[aH$ H${R>ZmB`m| H$mo _mZVo
hE H$nZr, eoàYmaH$m| Amanm{bgrYmaH$m| H$s {Z{Y Ho$ Iwbo
eof Ho$ AZwnmV _| Am~{Q>V H$aZo Zr{V AnZmVr h &
9.6.
g{H$` ~mOma _| g{H$` $n go `mnm[aV gm`me eoàm|
_| {Zdo{eV eoàmo H$m _y` VwbZ nV H$s VmarI H$mo EZ.
Eg.B. _| CH${mV `yZV_ _y` na VwbZ nV H$s VmarI
na _y`m{H$V {H$`m J`m h ~{H$ `{X H$moB eoà EZ.Eg.
B. _| Jagy{M~ hmo Vmo gm`me eoàm| H$m _y` VwbZ
nV H$s VmarI H$mo ~r.Eg.B. _| CH${mV `yZV_ _y`
na _y`m{H$V {H$`m J`m h & gyMr~ Ama g{H$` $n go
`mnm[aV H$n{Z`m| Ho$ gm`me eoàm| _| {Zdo{eV eoàm H$m
_y`, bXZ Q>mH$ EHgM|O Ho$ `yZV_ _y`, na _y`m{H$V
{H$`m J`m h &Am bm^ hm{Z H$mo ghr _y` n[adVZ ImVo
_o _m`Vm Xr J`r h &
9.7
{dXoer H$n{Z`m| Ho$ eoàm| g{hV g{H$` ~mOma _| Ja gyMr~
/ _X `mnm[aV gm`me eoàm| H$mo bmJV na _y`m{H$V
{H$`m J`m h & O~ {dbo{fV _y`, _yb bmJV go H$_
hmo V~ Ad_y`Z Ho$ {bò mdYmZ {H$`m J`m h & Ohm
{dbo{fV _y` ZH$mam_H$ hmo Vmo ImVm _y` na 100%
H$m mdYmZ {H$`m J`m h &
316
9. LOANS & INVESTMENT:

9.1
Purchase and sale of shares, bonds & debentures are

accounted for on the date of contract (trade date).
9.2
The cost of investment includes Securities Transaction Tax

(wherever applicable), premium on acquisition and other
direct expenses incurred for the acquisition of the investment
and is net of commission/fee earned thereon.
9.3
Investments maturing within 12 months from the Balance

Sheet date are classified as Short Term Investments except
in respect of Equity Shares which are treated as Long Term
Investments. All other investments are classified as Long
Term Investments.
9.4
Money market instruments such as Certificate of Deposit,

Commercial Papers and CBLO which are discounted at the
time of contract, are accounted at their discounted value.
9.5
9.6
9.7
9.8
9.9
The Company follows the prudential norms prescribed by the

IRDAI/ Related RBI guidelines as regards asset classification,
recognition of income and provisioning pertaining to loans/
advances/debentures.
9.10
Impairment
b) Investments in Venture Capital Funds are valued at cost.

Provision is made for diminution in value of such
investments where Net Asset Value as at the Balance
Sheet date is lower than cost. Wherever Net Asset Value
as on Balance sheet date is not available, latest available
Net Asset Value is considered.
9.10.1 Impairment is recognized in equity shares of companies

which have been continuously incurring losses during three
immediately preceding years and the capital of which has
been partially or fully eroded, or where the audited annual
accounts for the three immediately preceding years are not
available.
Investments are written down as under:
9.10.2
1. Equity shares which are actively traded are written down to

their market value.
Investments in debt securities including Government

Securities and redeemable Preference Shares are shown at
cost subject to amortisation. The premium, based on
weighted average cost is amortized for the period from the
date of purchase of the instrument till the end of the financial
year preceeding the year of maturity/redemption, by
considering put/call option, if any.
2. Equity shares other than actively traded, are writtendown

to the break up value and where the break up value is
negative, are written down to `1/- per company.
Consequent Impairment loss if any, is recognized as
expense in Revenue/ Profit & Loss account.
9.10.2.1 Any reversal of impairment loss, earlier recognized in
Revenue/Profit & Loss account,
Investments in Equity shares that are actively traded are

valued at the last quoted closing price on NSE (Primary
Exchange) as on the balance sheet date. However, in case of
any stock not being listed/ not traded in NSE, Equity shares
will be valued based on last quoted closing price in BSE
(Secondary Exchange) as on the Balance Sheet date.
Investments in Equity shares of companies outside India that
are quoted and actively traded are valued at last quoted price
at London Stock Exchange as on the Balance Sheet date. The
unrealised gains/losses are recognised in Fair Value Change
account.
(a) in respect of Actively Traded Equity shares - shall be

recognized in the Revenue/Profit & Loss account
i)
if the accumulated losses are completely wiped out and
ii) The company has shown net profit for three immediately
preceding years.
And
(b) in respect of other than Actively traded equity shares,
shall be recognized in the Revenue/Profit & Loss account,
on realization
Investments in Unlisted/Thinly traded equity shares including

shares held in companies incorporated outside India are
valued at cost and provision is made for diminution in value
of such investments when break-up value is lower than the
cost. In case the break-up value is negative, provision is
made @ 100% of book value.
9.10.3 In respect of preference shares other than those in the nature

of advances, provision for permanent diminution is made to
the extent of 100%. The permanent diminution is reckoned
as follows:
a) The preference dividend is not paid for three consecutive

years
a) Investment in units of Mutual funds, are valued at Net

Asset Value as at the Balance Sheet date as declared by
Or
317

8.3
the funds and unrealized gains / losses are recognized in

Fair Value Change Account.
integral foreign operation, the cumulative amount of the

exchange differences which have been deferred will be
recognized as income or as expenses in the year of such
closure.
The difference in translation arising out of foreign currency
transaction in Indian operations is recognized in the relevant
Revenue accounts / Profit and Loss Account as applicable.
11. H$a
11.1
B) Ohm VrZ nyddVu dfm] Ho$ {bE boIm nar{jV dm{fH$

boImE CnbY Zht h &
9.11 .
òH$ {Zdoe Ho$ {dH$` /m{ _| bm^ /hm{Z H$m AmH$bZ

{Zdoem| Ho$ g^m[aV AmgV A{H$V _y` Ho$ AmYma na {H$`m
J`m h &
9.12.
bm^me Am` (A{V_ bm^me H$mo N>mSo >H$a) H$mo Kmo{fV df Ho$
Am` Ho$ $n _| ImVo _| {b`m J`m h & AV[a_ bm^me ,^maV
Ho$ ~mha Ho$ gm`mm eoàm| H$m bm^mm Ama A{Y_mZ eoàm| H$m
bm^mm m{ Ho$ AmYma na n[aH$bZ [H `m J`m h & $eoà Ama
G$U n go Am` Omo Amn{V / {dVaU b{~V Ho$ AYrZ hmo
CZH$m AmH$bZ dgybr na {H$`m J`m h &
9.13.
d|Ma H$m{nQ>b \$S> Ho$ amOd H$mo m{ Ho$ AmYma na _

m`Vm Xr J`r h &a
9.14.
^{d` _| `mO H$s hm{Z hoVw m j{Vny{V am{e H$mo {dVr`

df _| drH$V gr_m Am` Ho$ $n _| _m`Vm Xr J`r h VWm
eof H$mo g~pYV dfm] _| Am~Q>Z hoVw A{J_ _| m `mO
ImVo _| {b`m J`m h &
9.15.
df Ho$ ma^ _| nm{bgrYmaH$m| {Z{Y Ama eoàYmaH$m| H$s

{Z{Y Ho$ AmYma na {Zdoe Am`, {Zdoe H$s {~H$s / m{ na
bm^ `m hm{Z {Zdoe go g~pYV ``, {Zdoe r{_`_ Hm
$n[aemoYZ, Ja {Zn{XV {Zdoe Ad_yy`Z Ho$ {bE mdYmZ,
Ama ~Q>Q>o ImVo _| S>mbr J`r / Ad{b{IV am{e, H$mo amOd
Ama bm^ Ama hm{Z ImVo _| {d^m{OV {H$`m J`m h &
dhm[aH$ H${R>ZmBm| Ho$ H$maU VwbZ nV Vma H$aVo g
eaYmaH$m| Ama nm{bgrYmaH$m| go g~pYV {Zdoem| H$mo nWH$
$n go A{H$V Zht {H$m OmVm h &H$nZr eoaYmaH$m| H$s
{Z{Y d nm{bgrYmaH$m| H$s {Z{Y Ho$ Iwbo eof Ho$ AZwnmV |
{Zdoe H$mo eoaYmaH$m| Ed nm{bgrYmaH$m| Ho$ $n | {d^m{OV
H$aZo H$r {H$m{d{Y AnZmVr h &
A) [ma n[agnpV`m
Wm`r n[agnpV`m| H$mo g{MV m{gV H$mo KQ>mH$a Wm`r
n[agnpV`m| H$mo Xem`m J`m h & O~ VH$ gnpV Cn`moJ
Ho$ {bE V`ma h V~ VH$ `j bmJV H$m bm^ CR>m aho h
& Bg bmJV _| ^mS>m, WmnZ bmJV, ewH$, H$a Ama A`
Am~{Q>V `` gp_{bV h & AmJo bmJV H$s JUZm _| `mnma
H$s Ny>Q> Ama Ny>Q> H$mo KQ>m`m J`m h &
Am) A`j n[agnpV`m
A`j n[agnpV`m g{MV n[aemoYZ Ho$ nMmV {Z_mU /
A{YJhU bmJV na AmH${bV h& CZH$mo grYr Umbr AmYma
na VrZ df H$s Ad{Y Ho$ {bE n[aemo{YV h& gm\$Q>dò a
{dH$mg / A{YJhU bmJV H$mo amOd _| ^m[aV h & Bg_|
9.16

boIm _mZH$ 26 _| (E.Eg. 26) _| _m`Vm Ho$ {bE {ZYm[aV

`mo`Vm H$mo nyam H$aVm h, CZH$mo gp_{bV Zht {H$`m J`m h
B) H$nZr _| VrZ nyddVu dfm] Ho$ XmamZ hm{Z hB h VWm

{OgH$s nyOr _| Am{eH$ / nyU $n go hm{Z hB h (`m )
10.
11.2
11.3.
11.4.
12.
13.
13.1
13.2
13.3
318
Am` H$a `` _| Mmby H$a (AWmV Am` H$a Omo Am` H$a
{Z`_ Ho$ AZwgma CV Ad{Y hoVw JUZm H$s J`r ) Ama
AmW{JV H$a ewH$ `m O_m (CV Ad{Y hoVw boImH$Z
Am` Ama H$a `mo` Ho$ ~rM g_` _VôX Ho$ H$a ^md
H$mo XemVr h) & AmW{JV H$a ^ma `m O_m VWm CgH$s
AmW{JV H$a Xo`Vm`| `m n[agnpV`m| H$mo H$a Ho$ Xa na
_m`Vm Xr JB h Omo A{Y{Z`{_V hmo `m VwbZ n VmarI
H$mo A{Y{Z`{_V hm| &
H$a H$m mdYmZ H$nZr H$mCgob mam {Xò Jò bmJy H$mZyZr
[ZU` Ama am` Ho$ AmYma na {H$`m J`m h &
H$a {Z`_m| Ho$ AZwgma XV `yZV_ dH$pnH$ H$a Omo
^{d` Am` H$a Xo`Vm Ho$ g_m`moOH$ Ho$ $n _| ^{d` _|
Am{WH$ bm^ XmZ H$aVr h VWm {Ogo n[agnpV Ho$ $n
_| _mZm OmVm h ~eV] {H$ H$nZr gm_m` Am` H$a ^wJVmZ
H$aZo R>mog g~yV aIVr h & VXZwgma _Q> (MAT) H$mo VwbZ
n _| n[agnpV Ho$ $n _| _m`Vm m hmoJr O~ {H$ Cggo
OwS>o ^{d` H$s Am{WH$ bm^ H$nZr H$mo m hmoJr &
AmW{JV H$a n[agnpV`m| H$mo Cg gr_m VH$ hr _m`Vm Xr
J`r h Ohm n[agnpV`m ^{d` _| m H$aZo H$s g^mdZm
hmo & H$a {Z`_ Ho$ VhV Ja g_m{dQ> _y`mg `m AJo{fV
hm{Z Ho$ g~Y _| AmW{JV H$a n[agnpV`m H$mo Cg hX
VH$ _m`Vm Xr J`r h Ohm AmW{JV H$a m H$aZo H$s
g^mdZm hmo & AmW{JV n[agnpV`m| H$s g_rjm VwbZ n
H$s VmarI na H$s OmVr h &
nQ>Q>m ^ma
nQ>Q>m Ohm nQ>Q>mXmVm ^mdr T>J go nQ>Q>o Ho$ dm{_d Ho$
g^r Omo{I_m| Ama gw{dYmAm| H$mo AnZo A{YH$ma _| aIVm h,
CZH$mo n[aMm{bV nQ>Q>o Ho$ $n _| dJuH$V {H$`m J`m h & nQ>Q>o
H$s Ad{Y _| grYr aoIm Ho$ AmYma na bm^ Ama hm{Z ImVo
_| n[aMm{bV nQ>Q>o Xo`VmAm| H$mo `` Ho$ $n _| A{^km{nV
h &H$nZr Ho$ {dH$n na g^r nQQ>o H$ama H$mo aXX {H$m Om
gH$Vm h &
mdYmZ VWm AmH$p_H$ Xo`VmE nm{bgr Ho VhV Ho Abmdm
A` Xmdo
nyd KQ>Zm H$o \$bd$n g^d AZw_mZ Ho$ AmYma na dV_mZ
_| ~m`Vm hmoZo na H$nZr mdYmZ H$s `dWm H aVr h
{OgHo$ mam ^{d` _| gmoVmo| H$m IM hmoVm h&
AmH$p_H$ Xo`Vm H$m H$Q>Z V^r {H$`m OmVm h O~ ~m`Vm
H$r g^mdZm hmo `m dV_mZ ~m`Vm _| gmoVmo| H$s Anojm hmo
gH$Vr h `m Zht &
{dVr` {ddaUm| _| AmH$p_H$ n[agnpV`m| H$mo _m`Vm Zht
{X`m J`m h `m H$Q>Z {H$`m J`m h &
9.12
9.13
9.14
9.15
9.16
10.
11. TAXATION.
11.1
11.2
11.3
11.4
Income tax expense comprises current tax (i.e amount of tax

for the period determined in accordance with the income-tax
law) and deferred tax charge or credit (reflecting the tax
effects of timing differences between the accounting income
and taxable income for the period). The deferred tax charge
or credit and the corresponding deferred tax liabilities or
assets are recognized using the tax rates that have been
enacted or substantively enacted as on the balance sheet
date.
Provision for current tax is made after due consideration of
the applicable judicial pronouncements and opinions from
the companys counsel.
Minimum Alternate Tax (MAT) paid in accordance with the tax
laws, which gives future economic benefits in the form of
adjustment to future income tax liability, is considered as an
asset if there is convincing evidence that the Company will
pay normal income tax. Accordingly, MAT is recognized as an
asset in the Balance Sheet when it is probable that future
economic benefit associated with it will flow to the Company.
Deferred tax assets are recognized only to the extent there is
reasonable certainty that the assets can be realized in future.
In the case of unabsorbed depreciation or carried forward
loss under taxation laws, deferred tax assets are recognized
only to the extent there is virtual certainty that the deferred
tax assets can be realized. Deferred tax assets are reviewed
as at each balance sheet date.
amortised over a period of three years on straight line basis.

Software development/acquisition costs, except those which
meet the recognition criteria as laid down in Accounting
Standard 26 (AS 26), are charged to revenue.
12. LEASE CHARGES

Leases, where the lessor effectively retains substantially all
the risks and benefits of ownership of the leased item, are
classified as operating leases. Operating lease payments are
recognized as an expense in the statement of profit and loss
on a straight-line basis over the lease term. All lease
agreement are cancellable at the option of the company.
a) FIXED ASSETS:
13. PROVISIONS AND CONTINGENCIES (CLAIMS OTHER

THAN THOSE UNDER POLICIES)
Fixed assets are stated at cost of acquisition less accumulated

depreciation. Direct costs are capitalized till the assets are
ready to be put to use. These costs include freight, installation
costs, duties, taxes and other allocated expenses. Further
any trade discounts and rebates are deducted in arriving at
the cost.
b) INTANGIBLE ASSETS:
Intangible Assets are stated at cost of development/
acquisition less accumulated amortisation. The same is
13.1
13.2
13.3
319
The Company creates provision based on a reliable estimate

for the present obligation of a past event that might cause
outflow of resources in future.
Disclosure for a contingent liability is made when there is a
possible obligation or a present obligation that may or may
not require an outflow of resources.
Contingent assets are neither recognized nor disclosed in the

9.11
b) The maturity proceeds have not been received for three

consecutive years
Or
c. The company has incurred losses in three immediately
preceding years and the capital of which has been
partially or fully eroded
Or
d. Where the audited annual accounts for the three
immediately preceding years are not available
Profit or Loss on realization/sale of investment is computed
by taking weighted average book value of each investment.
Dividend income (other than interim dividend) is accounted
for as income in the year of declaration. Interim dividends,
dividend on Equity held outside India and dividend on
Preference Shares are accounted on receipt basis. Income
from shares and debentures, which are under objection/
pending delivery, is accounted for on receipt basis.
Revenue with respect to Venture Capital Funds is recognised
on Receipt basis.
Amounts received towards compensation for future loss of
interest is recognized as income only to the extent attributable
to the accounting year and the balance is kept in interest
received in advance account for apportionment in the
relevant years.
Investment income, profit/loss on sale/realisation of
investment, expenditure relating to investments, amortisation
of premium on investments, amount written off/written down
in respect of depreciated investments, provision for non
performing investment/diminution in value are apportioned
to Revenue accounts and Profit & Loss account on the basis
of policyholders Fund and shareholders Fund as at the
beginning of the year
The Investments pertaining to shareholders and policyholders
are not indicated separately while preparing Balance sheet
as it is not feasible due to practical difficulties. The company
follows the policy of classifying the investments into
shareholders and policyholders funds in the proportion of
opening balances of shareholders funds and policyholders
funds
boImAm| _| gp_{bV {Q>n{U`m :

g_o{H$V {dVr` {ddaU
1 . g_o{H$V gWmAm| H$s gyMr Ama CZHo$ g~{YV ew n[agnpV`m Ama bm^ / hm{Z H$m Ae
gWm H$m Zm_
ew n[agnpV`m `m{Z Hw$b n[agnpV`m| go KQ>m Hw$b Xo`Vm`|

g_o{H$V Hwb
n[agnpV`m|
H$m %
am{e
( hOmam| _|)
2015-16
g_o{H$V Hwb
n[agnpV`m|
H$m %
bm^ / hm{Z H$m Ae
am{e
( hOmam| _|)
2014-15
g_o{H$V bm^ `m
hm{Z H$m %
am{e
( hOmam| _|)
2015-16
g_o{H$V Hwb
n[agnpV`m|
H$m %
am{e
( hOmam| _|)
2014-15
_yb
`wZmBQ>oS> B{S>`m
B`ya|g H$ {b
95.66%
98507961
96.91%
114765504
87.86%
2169639
88.83%
2993135
1. Oo{ZW go`y[aQ>rO ES>

BdoQ>_o Q>g {b{_Q>So >
0.45%
463253
0.58%
690204
0.34%
8308
2.16%
72766
{Z`{VV H$nZr _|
AYmZ {hV
0.20%
203778
(0.04%)
(44444)
(0.10%)
(2538)
(0.66%)
(22230)
{Z`{VV H$nZr
^maV _|
g~ H$nZr ( BpdQ>r n{V Ho$ AZwgma {Zdoe)

^maV _|
1. hoW B`ya|g Q>r
nr E Am\$ B{S>`m {b
0.13%
137391
0.02%
23033
(0.18%)
(4393)
(0.37%)
(12322)
3.56%
3667537
2.53%
2990629
12.08%
298362
10.04%
338261
100.00%
102979920
100.00%
118424926
100.00%
2469378
100.00%
3,369,610
{dXoe
1. B{S>`m BQ>aZoZb
B`ya|g {b

NOTES TO ACCOUNTS
Hw b
df Ho$ {bE g_o{H$V bm^
(` 000)
XV bm^
2015-16
2014-15
H$nZr Ho$ dm_r
2469378
3369610
2538
22230
AYmZ {hV
320
1. List of entities consolidated and their respective share of Net Assets and Profit/LossName of the entity
Net Assets,i.e., total assets minus total liabilities

As % of
consolidated
net assets
Amount
(ìn
thousands)
2015-16
Amount
(` in
thousands)
As % of
consolidated
net assets
2014-15
Share in profit or loss

As % of
consolidated
profit or loss
Amount
(` in
thousands)
2015-16
As % of
consolidated
profit or loss
Amount
(` in
thousands)
2014-15
NOTES TO ACCOUNTS:
Parent:
United India
Insurance Company
Limited
95.66%
98507961
96.91%
114765504
87.86%
2169639
88.83%
2993135
1. Zenith securities
and Investments Ltd.
0.45%
463253
0.58%
690204
0.34%
8308
2.16%
72766
Minority Interests in
subsidiary
0.20%
203778
(0.04%)
(44444)
(0.10%)
(2538)
(0.66%)
(22230)
Subsidiary:
Indian
Associates (Investment as per the equity method)

Indian
1. Health Insurance
TPA of India Ltd.
0.13%
137391
0.02%
23033
(0.18%)
(4393)
(0.37%)
(12322)
3.56%
3667537
2.53%
2990629
12.08%
298362
10.04%
338261
100.00%
102979920
100.00%
118424926
100.00%
2469378
100.00%
3,369,610
1. India International
Insurance Pte. Ltd.
Total
Consolidated profit for the year
(` 000)
Profit attributable to:
2015-16
2014-15
Owners of the company
2469378
3369610
2538
22230
Minority Interests
321

NOTES TO ACCOUNTS
Foreign
2. AmH$p_H$ Xo`mmE
( ` 000)
31.03.2016
{ddaU
Am{eH MwH Vm {Zdoe
eof ~r_mboIZ Xo`Vm ( eoàm| Ama `m^y{V`m| Ho$ g~Y _| )
{ddmXmnX dYm{ZH$ _mJ / Xo`Vmò {OgH$m mdYmZ Zht {H$`m J`m
nwZ~u_m Xo`VmAm| H s gr_m VH Ho$ {bò mdYmZ Zht {H$`m J`m h
A` {ddaUmZwgma
ZmoQ : 1 Am`H$a {d^mJ Zo H$nZr H$mo dmng H$s OmZr am{e ` 1716961
(`1367556) hOma dV: AmXe dm` am{e H$mo g_m`moOZm {H$`m &
800
800
2362032
734728
4887659
4388708
950
AZwamoY {H$`m h &

narjU `m`mb` Zo {S>H$s H$a {ddmXmnX n[aga go Imbr H$aZo H$m AmXoe Omar
{H$`m & bKwdmX `m`mb` _| Anrb H$aZo na narjU `m`mb` Ho$ AmXoe H$mo
OwbmB 2008 VH$ W{JV {H$`m & {\$a ^r n[aga Ho$ _m{bH$ Zo Bg `m`mb`
Ho$ AmXoe Ho$ {d _w~B C `m`mb` _| {g{db gemoYZ AmdoXZ XO {H$`m
Omo b{~V h &
ZmoQ : 2 `` Ho$ {bò {d{dY boZXma _| 01-02-2003 go Xo` ` 205 hOma

gp_{bV h& n[aga Ho$ _m{bH$ ga hmo_r _ohVm Q>Q> Zo H$nZr mam br JB
n[aga H$mo Imbr H$aZo hoVw gyMZm Xr h VWm bKw _m_bm| Ho$ `m`mb` _| _w`V
n[aga H$mo Imbr H$aZo hoVw dmX XO {H$`m & CnamoV dmX _| n[aga Ho$ _m{bH$
AV[a_ amhV Ho$ $n _| `110/- {V dJ \w$Q> {V _mh Ho$ Xa na `m {g{db
g{hVm {H$`m Ho$ AmXoe 20 {Z`_ 12 (0.20 Ama 12) Ho$ AYrZ OmM Ho$
CnamV _mZZr` `m`mb` mam Omo Xa ghr g_Po CgH$mo ^wJVmZ H$aZo H$m
bKwdmX `m`mb` Zo 0.20 Ama12 AV H$mbrZ bm^ Ho$ g~Y _| OmM H$aZo H$m
AmXoe Omar {H$`m Omo b{~V h & Bg pW{V _| AV H$mbrZ bm^ H$s AmH$bZ
Zht {H$`m Om gH$Vm h VWm VwV Zht {H$`m J`m h &
3 (A) ^maV _| Ama Ho$ ~mha H$nZr H$s n[agnpV`m| H$m Xm{`d

NOTES TO ACCOUNTS
31.03.2015
( ` 000)
31.03.2016 31.03.2015
{ddaU
7000
7000
gmm n / JmaQ>r n Omar H$aZo Ho$ {bò O_m `yZV_ am{e
12824
11934
`m`mb` Ho$ AmXoe Ho$ AZwgma `m`mb` _| O_m H$s J`r am{e / Xmdm| Ho$ {bò ~H$ ImVm| H$s Hw$H$s
0
0
{dXoer dYm{ZH$ AnojmAm| Ho$ AZwnmbZ _| O_m H$s J`r am{e
10213
10266
10.70% Or Amo AmB 2020 - ^maVr` br`[aJ {ZJ_ _| gr.~r.Eb.Amo. MmbZ hoVw O_m- E\ dr ` 10000
hOma
3(b). gm[d[YH Ano[mVmZwgma [Zdoe O_m
n[an {X.19.3.08 Ho$ AZwgma ZH$X ~mOma m| H$mamo~ma H$aZo Ho$

{bE _x~B Q>mH$ ~mOma m| ` 50000 hOma (JV df ` 50000
hOma) H$s `yZVm am{e H$s Omm &
^maVr ~rm {d{ZmH$ Ama {dH$mg m{YH$maU Ho$ yZV Om Anojm

Ho$ AZwgma H$nZr A{Y{Z 1938 H$s Ymam 7 Ho$ AZwgma Ama ~r AmB
H$s Om ey h & {nN>bo df ` 123206 hOma h A{H$V y
` 120010 hOma h & ~rm A{Y{Z 1938 H$s Ymam 7 Ho$ VhV Om
H$mo ~rm {d{ZmH$ {dH$mg m{YH$ma Ho$ n[anV g AmB Ama S>r E /E$
AmB n[a AmB EZ dr 093 04 2015 {X 30 04 2015 Ho$ AVJV
dmng {bm Jm h &
3 B A{J_ Ama O_m g{hV
i)
322
ii)
ZH$X ~mOma m| gWm H$mamo~ma H$s grmm Ho$ g~Y m| go~r n[an
{X.19.3.08 Ho$ AZwgma nyOr ~mOma m| H$mamo~ma H$aZo Ho$ {bE
ZoeZb Q>mH$ ~mOma m| ` 100000 hOma (JV df `100000
hOma) H$s `yZVm am{e H$s Omm &
iii)
^maVr` br`[aJ {ZJ_ _| gr.~r.Eb.Amo. MmbZ hoVw `100 hOma

(JV df `100 hOma) H$s `yZVm am{e H$s Omm
( ` 000)
Particulars
31.03.2016
On partly paid investments
31.03.2015
800
800
2362032
734728
4887659
4388708
950
Statutory demands/liabilities in dispute, not provided for

Note 1: The Income Tax authorities have suo-moto adjusted the refund
code of Civil Procedure.
due to the company amounting to `1716961 thousands (`1367556
The trial court decreed and ordered eviction from the suit premises. On
thousands).
appeal before the Small Causes Court the judgement of the trial court
Note 2: Sundry Creditors for Expenses includes ` 205 thousands amount
was set aside in July 2008. However, thereafter landlord has filed a
payable since 01/02/2003. The landlord, Sir Homi Mehta Trust, had sent
Civil Revisionary Application against the judgement in the Bombay High
the notice for the eviction of the premises occupied by the subsidiary
Court, which is pending.
Company and had also filed the suit in the Court of Small Causes mainly
The Small Causes Court has also ordered for an enquiry in terms of O. 20
for the eviction. In the said suit, the landlord, had prayed for the interim
R. 12 for manse profit, which is pending. In view of this the manse profit
relief of `110/- per sq. feet per month or at such rates as the Hon. Court
is not quantifiable at this stage and not provided for the same.
3(a) Encumbrances to assets of the Company within and outside India.

Particulars
( ` 000)
31.03.2016
Deposits towards margin money for issue of letters of credit/bank guarantee

Deposits made in court as per orders/attachments of bank accounts for claims
Deposits made to comply with Overseas Statutory requirements
10.70% GOI 2020 deposited with Clearing Corporation of India for CBLO operation
FV `10000 thousands
3(b). Investments/Deposits made in accordance

with statutory requirements:
31.03.2015
7000
7000
12824
11934
10213
10266
deposited with Bombay Stock Exchange towards Margin

Money for trading in Capital Market as per SEBI circular dated
19.03.2008 regarding Margin of Institutional Trades in the Cash
Market.
Deposit with RBI in accordance with section 7 of the Insurance

Act, 1938 to adhere to minimum deposit requirement of Insurance
Regulatory Development Authority of India is NIL (Previous year
` 123206 thousands). (Face value ` 120010 thousands). Deposit
under section 7 of Insurance Act 1938, has been withdrawn by
IRDA vide Circular IRDA/F&I/CIR/INV/093/04/2015 dated 30th
April 2015.
ii. ` 100000 thousands (Previous year ` 100000 thousands)

deposited with National Stock Exchange towards Margin
Money for trading in Capital Market as per SEBI circular dated
19.03.2008 regarding Margin of Institutional Trades in the Cash
Market.
iii. ` 100 thousands (Previous year ` 100 thousands) by way
of margin money has been deposited with Clearing Corporation
of India for CBLO operation.
3(c) Advances and Deposits includes:

` 50000 thousands (Previous year ` 50000 thousands)
323

NOTES TO ACCOUNTS
may deem fit after enquiry under Order 20 Rule 12 (O. 20 R. 12) of the
i.
2. Contingent Liabilities:
4 . G$U, {Zdoe Ama [Wa n[agnpV`m| Ho$ H$maU AZw_m{ZV Xo`mmE
( ` 000)
{ddaU
G$U Ama {Zdoe
gnXm H$s Xo`Vm
BS>rnr / H$moa B`ya|g n[a`moOZm H$s Xo`Vm
hVmVaU Ho$ {bò {db{~V Q>mn ewH$ Ama nOrH$aU Xa (AZw_m{ZV)
eom {ZnmXZ Ho$ AZw~Ym| H$s AZw_m{ZV am{e (^wJVmZ {H$ò Jò ew A{J_ ) Ama mdYmZ Zht H$s J`r am{e
5. A` Am` _| {d{^ dfmo Ho$ Am` H a {a\ S
df ey` H$m `mO gp_{bV h &
180402 hOma {nN>bo
31.03.2016
31.03.2015
802544
831806
2862701
23262
1050942
1324215
28544
4549
151668
19380
_y` _| hwE n{adVZ Ho H maU Adgy{bV cm^ (ew) ` 42015318

hOma (` 59417696 hOma) H mo ghr _y` n{adVZ ImVo _| {b`m
J`m h & Eogo {Zdoem| H m Eo{Vhm{gH bmJV ` 53652183
(` 45918354 hOma) hOma h & b{~V dgycr Ho n{aUm_d n
O_m eof Omo {H ghr _y` n{adVZ ImVo _| h, {dVaU Ho {bE
CncY Zht h &
6. 31-3-2016 H$mo {Zdoe Ho$ H ` Ho$ g~Y m| {ZnmXZ Ho$ {bE b{~V
Zht h Ama {Zdoe Ho$ {dH ` Ho$ g~Y m| ^wJVmZ A{VXo` Zht h &
7. ~r_m {d{Z`m_H Ama {dH mg m{YH aU (AmB.Ama.Sr.E.) mam {ZYm[aV
{Z`_m| Ho AZwgma, gyMr~ gm`me eoàm| Ama nman{aH {Z{Y Ho
8. {Zdoem| H$mo {ZnmXZ Ama Ja {ZnmXZ Ho$ $n _| dJuH$aU
( ` 000)
31.03.2016
{ddaU
{ZnmXZ n[agnpV
Ja {ZnmXZ n[agnpV
31.03.2015
195668301
189971854
984565
1003794
196652866
190975648
Hw$b
~rm {d{ZmH$ Ama {dH$mg m{YH$aU Ho$ {ZX}emZwgma Ja {ZnmXZ n[agnpVm (A{YmJ Ed dgybr )na Mmby df hoVw A{^km{nV Am H$s am{e ` 616375
hOma (` 626295 hOma) h Ama mM 2016 VH$ ` 4739290 hOma (` 4122915 hOma) h &

NOTES TO ACCOUNTS
9. 31.3.2016 H$mo nwZga{MV G,U n[agnpV

H _ g.
1.
2.
3.
4.
( ` 000)
{ddaU
n[agnpV`m| H$r Hw$b am{e, Omo nwZgaMZm Ho$ AYrZ hmo &
_mZH$ n[agnpV`m| H$r am{e, Omo nwZgaMZm Ho$ AYrZ hmo &
Ad _mZH$ n[agnpV`m| H$r am{e, Omo nwZgaMZm Ho$ AYrZ hmo &
g{XY Ama A` n[agn{V`m| H$r am{e,Omo nwZgaMZm Ho$ AYrZ hmo &
10. H nZr Ho$ nmg {a`b EQ>oQ> {Zdoe gnpV Zht h &
324
31.03.2016
31.03.2015
355942
372846
282672
296950
73269
75896
( ` 000)
Particulars
Loans and Investment
31.03.2016
31.03.2015
802544
831806
Commitments for Estates
2862701
23262
Commitments for EDP/Core Insurance Project
1050942
1324215
28544
4549
151668
19380
Stamp duty and Registration charges and pending conveyance (estimated at)
Estimated amount of contracts remaining to be executed(net of advances paid) not provided for
5. Other income includes interest on income tax refund of
4. Commitments made and outstanding on account of loans, investments and fixed assets:
(` 59417696 thousands) arising due to changes in the fair

value of listed equity shares and mutual funds are taken to fair
value change account. The historical cost (net of write off) of
such investments amounted to ` 53652183 thousands
(` 45918354 thousands). Pending realization, the credit
balance in the fair value change Account is not available for
distribution.
`180402 thousands (` NIL) pertaining to various years.
6. In respect of Purchases of Investments, no deliveries are

pending and in respect of sale of Investments, no payments are
overdue as on 31.03.2016 (` NIL).
7. In accordance with the regulation prescribed by IRDAI,

unrealized gains (net) amounting to ` 42015318 thousands
8. Segregation of Investments into performing and non-performing assets:

Particulars
Performing Assets
Non-Performing Assets
Total
31.03.2016
( ` 000)
31.03.2015
195668301
189971854
984565
1003794
196652866
190975648
The aggregate amount of income not recognized for the current accounting year on NPA (net of waiver/collections) as per related IRDAI guidelines
is ` 616375 thousands (` 626295 thousands) and up to 31st March 2016 is ` 4739290 thousands (` 4122915 thousands).
9. Loan assets subject to Restructuring as on 31.03.2016

Particulars
31.03.2016
31.03.2015
1.
Total amount of assets subjected to restructuring
355942
372846
2.
The amount of standard assets subjected to restructuring
282672
296950
3.
The amount of Sub-Standard assets subjected to restructuring
4.
The amount of Doubtful and other assets subjected to restructuring
73269
75896
10. The Company does not have Real Estate Investment Property .
325

NOTES TO ACCOUNTS
Sl.No
( ` 000)
11. n[an g.AmBAmaS>rE/E\ &AmB / n[a / AmBEZdr / 250/12/2012 {X. 4-12-2012 Ho$ AZwgma aonmo/{VdVZ aonmo H$m`{ddam _| H${Q>V
gyMZmAm| H$m {ddaU {ZZ{b{IV h
( ` 000)
df Ho$ XmamZ
`yZV_ ~H$m`m
{ddaU
aonmo Ho$ AYrZ {dH$`

{V^y{V`m
df Ho$ XmamZ
df Ho$ XmamZ
A{YH$V_ ~H$m`m
~H$m`m X{ZH$ AmgV
31 _mM H$mo ~H$m`m
31.03.2016
31.03.2015
31.03.2016
31.03.2015
31.03.2016 31.03.2015 31.03.2016 31.03.2015
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
(i) gaH$mar
{V^y{V`m
(ii) {ZJ_r` G$U
{V^y{V`m
{VdVZ aonmo
Ho$ AYrZ H$`
{V^y{V`m
(i)gaH$mar
{V^y{V`m
107016
100049
1576221
1266561
319415
565227
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
(ii) {ZJ_r` G$U

{V^y{V`m
12. pWa n[agn{V`m| _| gp_{bV h
A)

NOTES TO ACCOUNTS
Am)
13.
14.
^y{_ dm{_d _| ~|Jbya {dVr eha _| AmBE\$grAmB

B\$mQ>Ma {dH$mg {b. go A{YJhZ ^y{_ gp_{bV
h & Cn nQ>Qo gh {~H$s H$ama H$s am{e ` 39761
hOma h & Bg A{YJhU ^y{_ na {ZYm[aV g_` gr_m
Ho$ AXa H$m`mb` n[aga Ho$ {Z_mU H$s ny{V na
H$nZr Ho$ Zm_ na nOrH$V {H$`m OmEJm &
15.
H$nZr Ho$ AVa H$m`mb`rZ ImVo Ho$ g_mYmZ H$m H$m` Mmby h Ama
H$nZr H r am` _| CgH$m ^md VmpdH$ Zht hmoJm &
16.
A)
~r_m H$mamo~ma H$aZodmbo {ZH$m`m| `m A` `pV`m| go

m` H$mo Xo` eof H$s nwpQ> H$s J`r h Ama {Z`m_Zwgma
^wJVmZ {H$`m J`m h & AV df H$s g_m{ na nwpQ>H$aU
m Zht {H$`m J`m h &
A)
Ohm VH$ nwZ~u_m H$m gdmb h boIm {ddaU Ho$ AmYma na

Xbmbm| / nwZ~u_mH$VmAm| H$mo ^wJVmZ {H$`m OmVm h &
AV df H$s g_m{ na nwpQ>H$aU m Zht {H$`m J`m h &
B)
{d{dY XoZXma _| Ho$ / am` gaH$ma go amQ>r` dm`

~r_m `moOZm H$s m` r{_`_ `1366578 hOma
(` 1291721 hOma) ^r gp_{bV h &
H$nZr Ho$ dm{_d _| hmoZodmbr gn{V _| ` 50537

hOma Ho$ _y` H$s ^dZ gp_{bV h & Omo$ hVmVaU
Ama nOrH$aU Ho$ {bò {db{~V h, Bg_| ` 920 hOma
H$s am{e {ddmXmnX h &
[d[dY boZXma _| ey` A[Veof ^wJVmZ ImVo go Omar ` 1614673

hOma (` 1415091 hOma) VH Hr Ja ^wZmò MoH H r am{e
gp_{bV h &
( ` 000)
31.03.2016 H$mo
01-04-2002 H$s ^mdr VmarI go hmH$mJ _| H$nZr H$m

A{^H$aU Zo ~r_mboIZ MmbZ ~X H$a {X`m Ama A{V_ MmbZ
H$m n[aH$bZ {H$`m J`m & CnJV bo{H$Z Agy{MV Xmdo Ed CnJV
~pH$ n`m $n go Agy{MV Xmdm| H$s b{~V ApV_ [anmoQ> Ho$
n[aUm_d$n JV dfm] Ho$ AmH$S>m| Ho$ AmYma na ey` `dWm H$mo
dV_mZ Xam| na JUZm {H$`m J`m h & 2015-16 df Ho XmamZ
A{V_ n`mbZ Ho R`` hoVw ` 2910 hOma IM {H `m h Ama
31.03.2016 H mo ` 23570 hOma H m VrZ Xmdm b{~V h &
1 gmb go H$_
789006
535602
1-3 df
157718
514830
3 dfm] go A{YH$
419854
241289
Hw$b
326
31.03.2015 H$mo
1366578
1291721
Particulars
Securities Sold
under Repo
Minimum outstanding during

the year
Maximum outstanding during Daily Average Outstanding

the year
during the year
Outstanding as on
31.03.2016
31.03.2015
31.03.2016
31.03.2015
31.03.2016 31.03.2015 31.03.2016 31.03.2015
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
11. In accordance with Circular No. IRDA/F&I/CIR/INV/250/12/2012 dated 4/12/2012, the details of exposure in Repo/Reverse Repo transactions
are given below:
( ` 000)
(i) Government
Securities
Securities
purchased under
Reverse Repo
(i) Government
Securities
(ii) Corporate Debt
Securities
107016
100049
1576221
1266561
319415
565227
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
NIL
12. Fixed Assets include :-
outstanding as on 31.03.2016
a) Land - Freehold includes land acquired from IFCI

Infrastructure Development Ltd. at Bangalore Financial
City, amounting to `39761 thousands on sub - lease
- cum - sale agreement, which will be registered in the
name of the company after completion of construction
of office complex within the time limit specified
therein.
15. Reconciliation of Inter-Office accounts is in progress and in the
b) Buildings valued at ` 50537 thousands (` 50537

thousands) which are pending for Conveyance and
Registration. This includes a property under dispute
amounting to ` 920 thousands (` 920 thousands).
b) In respect of Reinsurance, settlements are effected to

brokers /reinsurers based on statement of accounts hence
year end confirmation of balance is not obtained.
opinion of the Company the effect of the same will not be

material.
16. a) Balances Due from/Due to other persons or bodies

carrying on Insurance business, are confirmed and
settled periodically, hence year end confirmation
is not obtained.
c) Sundry Debtors include a sum of ` 1366578 thousands

(` 1291721 thousands) recoverable from Central/State
Government towards RSBY Premium.
( ` 000)
13. Sundry Creditors include an amount of ` 1614673 thousands

(` 1415091 thousands) being cheques issued from zero
balance payment accounts.
14. The Companys Agency at Hong Kong ceased underwriting

operations with effect from 01.04.2002 and the transactions
relating to run off operations have been accounted. Pending
final IBNR/IBNER report, the NIL provision based on the
Actuarys report for the previous year has been considered for
current year. The Company incurred a sum of ` 2910 thousands
towards expenditure for managing the Run off operations
during 2015-16 and three claims for ` 23570 thousands are
As on 31.03.2016
As on 31.03.2015
Less than 1 year
789006
535602
1 3 years
157718
514830
More than 3 years
419854
241289
1366578
1291721
Total
327

NOTES TO ACCOUNTS
(ii) Corporate Debt

Securities
17 n|eZ Ama CnXmZ
XmamZ 1/5 H$m Hw$b Xm{d H$m G$U n[aemo{YV {H$m h & BgHo$ A{V[aV
~rm {d{ZmH$ Ama {dH$mg m{YH$aU Zo AnZr n[anV g AmB Ama S>r
E /E$/Eb Ama /001/2016 {X 19.04.2016 Ho$ VhV 2015-16
go VrZ df Ho$ {bE doVZ dpX go Cn A{V[aV n|eZ Ama CnXmZ
Xm{d H$m G$U n[aemoYZ AZwmo{XV {H$m h & VXZwgma H$nZr Zo df Ho$
XmamZ Hw$b Xm{d Ho$ 1/3 H$m G$U n[aem{YV {H$m h &
gmdO{ZH$ joV Ho$ CnH$ Ho$ A{YH$m[am| Ama H$Mm[am| {OZH$s ^Vu
1.04.2004 go 31.03.2010 Ho$ ~rM hB hmo CZHo ${bE ^maVr ~rm
{d{ZmH$ Ama {dH$mg m{YH$aU Zo n[anV g AmB Ama S>r E /n[a/
A{Y{ZV/077/04/2016 {X 18.04.2010 Ho$ VhV 2015-16 go
nmM df VH$ n|eZ moOZm 195 Ho$ {dVma go Cn A{V[aV n|eZ
Xm{d H$m G$U n[aemoYZ AZwmo{XV {H$m h & VXZwgma H$nZr Zo df Ho$
( ` 000)
{ddaU
n|eZ
moOZm Ho$ {dVma hoVw G$U
n[aemo{YV am{e
Hw$b Xm{d
2015-16 | G$U n[aemo{YV
31.03.2016 H$mo A{^km{nV Ama An[aemo{YV CnXmZ Xm{d
CnXmZ
doVZ dpX hoVw
G$U n[aemo{YV
am{e
doVZ dpX hoVw

G$U n[aemo{YV
am{e
Hw$b
100000
2670000
285000
3055000
20000
890000
95000
1005000
80000
1780000
190000
2050000
ZmoQ : {X df 2015 -16 | ` 3055000 hOma H$s nyar am{e H$mo ^m[aV {H$m hmo Omo 31 mM 2016 H$mo gm df hoVw H$nZr H$m bm^ ` 20500000
hOma go H$ hAm hmoJm &

YZam{e H$m ^wJVmZ H$aVr h & nmVm nmM df H$s godm
nyU hmoZo na ma^ hmoVr h & Jo`wQ>r `moOZm go g~{YV
Xo`Vm`| VwbZn Ho$ AZwgma ~r_mH$H$s` _y`mH$Z mam
{ZYm[aV H$s OmVr h {OgHo$ AmYma na H$nZr g^r
A{^{ZpMV Xo`VmAm| Ho$ {bE `wZmBQ>oS> B{S>`m B`yaog
Jo`wQ>r \$S> Q>Q> (X Q>Q>) H$mo AeXmZ H$aVo h VWm
AeXmZm| H$mo H$mZyZ mam `Wm AZw_{V AZwgma {d{eQ>
{Zdoem| _| {Zdo{eV {H$`m OmVm h&
18 H$_Mm[a`m| H$mo godm{ZdpV bm^

NOTES TO ACCOUNTS
(i)
^{d` {Z{Y
nm H$_Mmar ({Ohm|Zo n|eZ `moOZm H$m {dH$n Zht MwZm
h) ^{d` {Z{Y go bm^ m H$aVo h Omo{H$ EH$ {ZpMV
AeXmZ `moOZm h & H$_Mmar H$s godm{ZdpV, _`w `m
godm`moOZm go ~ImVJr na gH$b AeXmZ H$m `mO
g{hV ^wJVmZ {H$`m OmVm h & H$_Mmar VWm H$nZr XmoZm|
hr `wZmBQ>oS> B{S>`m H$_Mmar ^{d` {Z{Y Q>Q> _| Amd[aV
H$_Mmar Ho$ doVZ Ho$ EH$ {Z`V {VeV Ho$ ~am~a am{e
H$m _m{gH$ AeXmZ H$aVo h & Q>Q> Ho$ {Zdoem| go m
Am` VWm Q>Q> mam A{Ygy{MV `mO Ho$ ~rM `{X H$moB
{JamdQ> hmoVr hmo, Vmo H$nZr CgH$s j{Vny{V Ho$ {bE Xm`r
h &
(iii)
H$nZr Zo nm H$_Mm[a`m| H$mo Amd[aV H$aVo hE _m{gH$

n|eZ Ho$ $n _| EH$ {Z`V bm^ godm{ZdpV `moOZm
(n|eZ `moOZm) H$m mdYmZ {H$`m h & n|eZ `moOZm,
H$_Mm[a`m| H$mo CZH$s godm{ZdpV Ho$ ~mX _`w VH$ EH$
_m{gH$ n|eZ XoVr h & _m{gH$ n|eZ g~{YV H$_Mm[a`m|
Ho$ doVZ VWm godm`moOZ H$s Ad{Y na AmYm[aV hmoVr h &
nmVm Xg df H$s godmnyU hmoZo na ma^ hmoVr h & H$nZr
^maVr` OrdZ ~r_m {ZJ_ H$s dm{fH$s H$m H$` H$aHo$
_m{gH$ n|eZ H$m ^wJVmZ H$aVr h & n|eZ `moOZm go
g~{YV Xo`Vm`| VwbZ n Ho$ AZwgma ~r_mH$H$s` _
y`mH$Z mam {ZYm[aV H$s OmVr h {OgHo$ AmYma na
H$nZr g^r A{^{ZpMV Xo`VmAm| Ho$ {bE `wZmBQ>oS>
B{S>`m B`yaog H$nZr n|eZ {Z{Y Q>Q> (X Q>Q>) H$mo
AeXmZ H$aVr h & Q>Q>r Q>Q> H$mo {Xò Jò AeXmZ H$mo
em{gV H$aVo h Ama AeXmZm| H$mo H$mZyZ mam `Wm
AZw_{V AZwgma {deof {Zdoem| _| {Zdo{eV {H$`m OmVm h&
H$nZr Zo amOd boIm VWm bm^ d hm{Z boIm _| ^{d`

{Z{Y AeXmZ Ho$ {bE `165269 hOma ( `115344
hOa) H$s am{e AZw_mo{XV H$s h &
(ii)
A. A{Ydm{fVm / n|eZ
CnXmZ
H$nZr mam nm H$_Mm[a`m| H$mo Amd[aV H$aVo hE Jo`wQ>r
Ho$ {bE EH$ {ZpMV bm^ godm{ZdpV `moOZm (Jo`wQ>r
`moOZm) H$m mdYmZ {H$`m J`m h & Jo`wQ>r `moOZm nm
H$_Mm[a`m| H$mo CZH$s godm{ZdpV, _`w, godm`moOZ _|
Aj_Vm `m Cggo ~ImVJr na g~{YV H$_Mm[a`m| Ho$
doVZ VWm godm`moOZ H$s Ad{Y na AmYm[aV EH$_wV
328
the company has amortized one-fifth of the total liability during the
year. In addition to that, Insurance Regulatory and Development
Authority of India, vide its Letter No. IRDA/F&A/LR/001/2016 dated
19.4.2016, had allowed amortization of additional Pension &
Gratuity liability arising on account out of Pay Revision, over a
period of three years commencing from the year 2015-16.
Accordingly the company has amortized one-third of the total
liability during the year.
( ` 000)
Insurance Regulatory and Development Authority of India,

vide its Circular No. IRDA/F&A/CIR/ACT/077/04/2016
dated 18.4.2016, had allowed amortization of additional
Pension liability arising out of extension of Pension
Scheme 1995 to PSU Officers and Staff Members who
joined between 01.04.2004 to 31.03.2010, over a period
of five years commencing from the year 2015-16. Accordingly
Particulars
Pension
Gratuity
Amount to be Amortized
Amount to be
for Extension of Scheme Amortized for Pay
revision
Amount to be
Amortized for
Pay revision
Total liability
17. Pension & Gratuity
Total
100000
2670000
285000
3055000
Amortized in year 2015-16
20000
890000
95000
1005000
Unrecognized and unamortized gratuity liability as on

31.03.2016
80000
1780000
190000
2050000
Note: Had the entire amount of ` 3055000 thousands been charged in the year 2015-16, the profit of the Company for the year ended
31st March 2016 would have been lower by ` 2050000 thousands.
completion of five years of service. Liabilities with
18. Retirement benefits to employees
regard to the Gratuity Plan are determined by actuarial
(i) Provident fund
valuation as of the balance sheet date, based upon
which, the company contributes all the ascertained
Eligible employees (employees not opted for pension
liabilities to the United India Insurance Employees
plan) receive benefits from the provident fund, which
Gratuity Fund Trust (the Trust). Trustees administer
is a defined contribution plan. Aggregate contributions
contributions made to the Trust and contributions are
along with interest thereon are paid at retirement,
invested in specific investments as permitted by law.
death, incapacitation or termination of employment.
Both the employee and the Company make monthly
contributions to the United India Insurance Employees
Provident Fund Trust equal to a specified percentage
of the covered employees salary. The Company has an
obligation to make good the shortfall, if any, between
the return from the investments of the trust and the
interest rate notified by the trust.
The Company provides for monthly pension, a defined

benefit retirement plan (the pension Plan) covering
eligible employees. The pension Plan provides a
monthly pension after retirement of the employees till
death The Monthly pension is based on the respective
employees salary and the tenure of employment.
Vesting occurs upon completion of ten years of service.
The company pays the monthly pension by purchasing
the annuity from Life insurance Corporation of India.
Liabilities with regard to the pension Plan are
determined by actuarial valuation as of the balance
sheet date, based upon which, the company
contributes all the ascertained liabilities to the United
India Insurance Employees Pension Fund Trust (the
Trust). Trustees administer contributions made to
the Trust and contributions are invested in specific
investments as permitted by law.
The Company recognized ` 165269 thousands

(`115344 thousands) for provident fund contribution
in the Revenue Accounts and Profit and Loss account.
(ii) Gratuity
The Company provides for gratuity, a defined benefit
retirement plan (the Gratuity Plan) covering eligible
employees. The Gratuity Plan provides a lump sum
payment to vested employees at retirement, death,
incapacitation or termination of employment, of an
amount based on the respective employees salary
and the tenure of employment. Vesting occurs upon
329

NOTES TO ACCOUNTS
(iii) (a) Superannuation/ Pension
(iii) Am. Z`r A{Ydm{fVm / n|eZ

Z`r n|eZ `moOZm EH$ {ZpMV `moOZm h Omo{H$ 01 Ab,
2010 `m CgHo$ ~mX H$nZr _| H$m` JhU H$aZodmbo H$_Mm[a`m|
na bmJy h & H$nZr EH$ nyd {ZYm[aV Xa na {Z`V AeXmZ H$m
^wJVmZ H$aVr h Ama H$nZr H$s Xo`Vm Bgr {Z`V AeXmZ VH$
gr{_V hmoVr h &
H$nZr Zo n|eZ amOd boIm VWm bm^ d hm{Z boIm _| n|eZ
AeXmZ Ho$ {bE ` 95507 hOma (` 62834 hOma) H$s am{e
H$m AZw_moXZ {H$`m h &
(iv) Nw>Q>Q>r ZH$XrH$aU
H$nZr Ho$ H$_Mmar Nw>Q>Q>r ZH$XrH$aU Ho$ nm h & H$_Mmar
Cn`wV g{MV Nw>Q>Q>r ZH$XrH$aU Ho$ {hgo H$mo AJmZrV H$a
gH$Vo h Ama `m Vmo AmJo H$s Ad{Y _| BgH$m Cn`moJ H$aVo h
`m A`wV g{MV Nw>Q>Q>r ZH$XrH$aU Ho$ {bE A{YH$V_ 240
{XZm| Ho$ {bE godm{ZdpV `m godm go ~ImVJr na ZJa j{Vny{V
bo gH$Vo h & H$nZr, {Og Ad{Y _| H$_Mmar H$mo AnZr godm`|
XoVm h Ama {Oggo nmVm ~T>Vr h, Cg Ad{Y _| Nw>Q>Q>r
ZH$XrH$aU Ho$ {V Xm`r h & H$nZr A{V[aV am{e Ho$ $n _|
(v)
(vi)
Nw>Q>Q>r ZH$XrH$aU H$s AZw_m{ZV bmJV H$s JUZm H$aVr h {Ogo

Cgo Cg A`wV nmVm Ho$ n[aUm_d$n ^wJVmZ H$aZm
Ano{jV hmoJm Omo{H$ VwbZ n {V{W na ~r_mH$H$s` _y`mH$Z Ho$
AmYma na g{MV hB hmoJr &
AdW Nw>Q>Q>r
~rmH$H$ ymH$Z Ho$ AmYma na H$nZr Zo AdW Nw>Q>Q>r hoVw
` 30000 hOma H$o Xm{d H$m mdYmZ {H$m h &
(godmaV Ama godm{ZdV) H$_Mm[a`m| Ho$ {bE g_yh {M{H$gm bm^
`moOZm
{OZ H$_Mm[a`m| Zo Bg `moOZm H$m {dH$n MwZm h, CZ godm{ZdV
H$_Mm[a`m| Ho$ {M{H$gm ~r_m hoVw H$nZr `moOZmZwgma AeXmZ H$aVr
h & H$nZr Zo (godmaV Ama godm{ZdV) H$_Mm[a`m| Ho$ {bE g_yh
{M{H$gm bm^ `moOZm H$s Xo`Vm Ho$ $n _| ~r_mH$H$s` _y`mH$Z Ho$
AmYma na ` 35000 H$s am{e H$m mdYmZ {H$`m h &
{ZZ{b{IV Vm{bH$m _| 31 _mM, 2016 Ho$ AZwgma H$nZr Ho$ {dVr` {ddaUm| _| Jo`wQ>r / n|eZ `moOZm H$s {Z{YV pW{V H$m {ddaU h
H$. df Ho$ ma^ Ama AV _| {Z`V bm^-Xm{`dm| Ho$ eof H$m g_mYmZ
( ` 000)
noeZ [Z[Y

NOTES TO ACCOUNTS
{ddaU
2015-16
df Ho$ ma^ _| {Z`V bm^ Xm{`d H$m _y`

dV_mZ godm-``
`mO _y`
AXm H$s J`r gw{dYm
CnXmZ [Z[Y
2014-15
2015-16
2014-15
24200000
20970000
6910000
6750000
798100
659600
55200
93900
2057000
1782450
587400
573750
3139128
3711345
358173
119761
(3244228)
(2923395)
(889773)
(627411)
26950000
24200000
7021000
6910000
I. `moOZm AmpV`m| Ho$ C{MV _y` df Ho$ ma^ _| Ama AV _| H$m g_mYmZ
( ` 000)
noeZ [Z[Y
{ddaU
2015-16
df Ho$ ma^ _| `moOZm AmpV`m| Ho$ C{MV _y`

A` H$n{Z`m| go m
{Z`moOH$ H$m AeXmZ
AXm H$s J`r gw{dYm
330
CnXmZ [Z[Y
2014-15
2015-16
2014-15
20828163
17415492
6408023
5876407
1880948
1934816
599944
566551
337
396
4706391
4401250
501977
592080
(3244228)
(2923395)
(889773)
(627411)
24171275
20828163
6620508
6408023
that increase this entitlement. The Company measures

the expected cost of Leave Encashment as the additional
amount that the company expects to pay as a result of the
unused entitlement that has accumulated at the balance
sheet date based on actuarial valuation.
New pension scheme which is applicable to employees

who joined the company on or after 1st April 2010 is a
defined contribution scheme. The company pays fixed
contribution at predetermined rate and the obligation of
the company is limited to such fixed contribution.
(v) Sick Leave
The Company recognized ` 95507 thousands (` 62834

thousands) for pension contribution in the Revenue
Accounts and Profit and Loss account.
The company has provided for ` 30000 thousands as

liability towards Sick Leave entitlement for employees
based on actuarial valuation.
(iv) Leave encashment
(iii) (b) New Superannuation/ New Pension
(vi) Group Medical Benefit Scheme for Employees (Serving

and retired)
The employees of the Company are entitled to Leave

Encashment. The employees can carry forward a portion
of the unutilized accrued Leave Encashment and utilize it
in future periods or receive cash compensation at
retirement or termination of employment for the unutilized
accrued Leave Encashment for a maximum of 240 days.
The company records an obligation for Leave Encashment
in the period in which the employee renders the services
The company contributes to medical insurance of the

retired employees as per scheme for employees opted for
the scheme. The Company has provided for ` 35000
thousands as liability towards Group Medical Benefit
Scheme for employees (Serving and Retired) based on
actuarial valuation.
The following table sets out the funded status of gratuity/pension plan and the amounts recognized in the companys financial statements as at
March 31, 2016:
A. Reconciliation of opening and closing balances of Defined Benefit obligation:
( ` 000)
2015-16
Defined benefit obligation at the beginning of the year
Gratuity Fund
2014-15
2015-16
2014-15
24200000
20970000
6910000
6750000
798100
659600
55200
93900
Interest cost
2057000
1782450
587400
573750
Actuarial (gain)/loss
3139128
3711345
358173
119761
Benefits paid
(3244228)
(2923395)
(889773)
(627411)
Defined benefit obligation at the end of the year
26950000
24200000
7021000
6910000
B. Reconciliation of opening and closing balances of fair value of plan assets:

( ` 000)
Pension Fund
Particulars
2015-16
Fair value of plan assets at the beginning of the year

Actuarial gain/(loss)
Received from other companies
Gratuity Fund
2014-15
2015-16
2014-15
20828163
17415492
6408023
5876407
1880948
1934816
599944
566551
337
396
4706391
4401250
501977
592080
Benefits paid
(3244228)
(2923395)
(889773)
(627411)
Fair value of plan assets at the end of the year
24171275
20828163
6620508
6408023
Employer contribution
331

NOTES TO ACCOUNTS
Pension Fund
Particulars
J. `moOZm AmpV`m| Ho$ C{MV _y` H$m g_mYmZ
( ` 000)
noeZ [Z[Y
{ddaU
2015-16
df Ho$ AV _| `moOZm AmpV`m| H$m ~mOma _y`

df Ho$ AV _| Xm{`dm| H$m dV_mZ _y`
VwbZ nV _| A{^km{nV A{Z{Y~ Xo`Vm / (n[agn{V)
CnXmZ [Z[Y
2014-15
2015-16
2014-15
24171275
20828163
6620508
6408023
26950000
24200000
7021000
6910000
2778725
3371837
400492
501977
(` 000)
K bm^ Ama hm{Z ImVo _| A{^km{nV ``

noeZ [Z[Y
{ddaU
dV_mZ godm-``
`mO ``
ew ~r_mH$Z ( bm^ )/ hm{Z
bm^ Ama hm{Z ImVo _| A{^km{nV Hw$b ``
`moOZm AmpV`m| go dmV{dH$ bm^
CnXmZ [Z[Y
2015-16
2014-15
2015-16
2014-15
798100
659600
55200
93900
2057000
1782450
587400
573750
(1880948)
(1934816)
(599944)
(566551)
3139128
3711345
358173
119761
4113280
4218579
400829
220860
1880948
1934816
599944
566551
S. Q>Q> mam gnmo{fV {Zdoe {VeVVm
(% _|)
n|eZ
({Z{Y~)
{ddaU

NOTES TO ACCOUNTS
Ho$ gaH$ma Ama am` gaH$ma H$s {V^y{V`m

A` G$U {V^y{V`m
~H$ Ho$ gmW eom
^maVr` OrdZ ~r_m {ZJ_ Ho$ gmW eom
M. VwbZn H$s {V{W na _yb ~r_mH$Z nydmZw_mZ (^m[aV AmgV Ho$ $n _| A{^`V)
{ddaU
`moOZm AmpV`m| na bm^ H$s AZw_m{ZV Xa
doVZ _| d{ H$s Xa
H$_Mmar Am` ``
_`Vm
_`Vm
n{V H m BVo_mb
CnXmZ
({Z{Y~)
2015-16
2014-15
2015-16
2014-15
58.93
68.84
39.44
26.09
28.57
25.36
30.09
34.10
0.85
0.07
0.12
0.07
11.65
5.74
30.35
39.74
(% _|)
AdH$me- ZH$XrH$aU
(A{Z{Y~)
n|eZ
({Z{Y~)
CnXmZ
({Z{Y~)
8.5
8.5
8.5
8.5
8.5
8.5
3.5
3.5
3.5
Ja _hdnyU
OrdZ ~r_m {ZJ_ (1994-96) _`Vm Xam| H$s Vm{bH$m
AZw_m[ZV `y[ZQ Ho [SQ n{V
B. JUZm _| {bò Jò ~r_mH$Z nydmZw_mZ H$m AmYma

{ddaU
nydmZw_mZ H$m AmYma
`moOZm AmpV`m| na bm^ H$s AZw_m{ZV Xa EH$ dm H$s `mO Xa
doVZ _| d{ H$s Xa
~r_mH$Z _y`{ZYmaU _| ^{d` H$s doVZ d{ H$m AZw_mZ _hJmB, d[aR>Vm, nXmo{V VWm A` mg{JH$
H$maH$m| Ogo {Z`moVm ~mOma _| ny{V Ama _mJ H$mo JUZm _| boH$a {H$`m J`m h &
332
( ` 000)
Pension Fund
Particulars
2015-16
Gratuity Fund
2014-15
2015-16
2014-15
Fair value of plan assets as at the end of the year
24171275
20828163
6620508
6408023
Present value of obligations as at the end of the year
26950000
24200000
7021000
6910000
2778725
3371837
400492
501977
Unfunded liability/ (asset) recognized in the Balance Sheet
D. Expense recognized in the Profit and Loss account:
C. Reconciliation of fair value of assets and obligations:
( ` 000)
Pension Fund
Particulars
Interest cost
Gratuity Fund
2015-16
2014-15
2015-16
2014-15
798100
659600
55200
93900
2057000
1782450
587400
573750
(1880948)
(1934816)
(599944)
(566551)
Net Actuarial (gain)/loss
3139128
3711345
358173
119761
Total expenses recognized in the Profit and Loss account
4113280
4218579
400829
220860
Actual return on plan assets
1880948
1934816
599944
566551
E. Investment percentage maintained by the trust
(In %)
Particulars
Gratuity
(Funded)
2015-16
2014-15
2015-16
2014-15
Central Government & State Government securities
58.93
68.84
39.44
26.09
Other Debt Securities
28.57
25.36
30.09
34.10
Balance with bank

Balance with Life Insurance Corporation of India
0.85
0.07
0.12
0.07
11.65
5.74
30.35
39.74
F. Principal Actuarial assumption at the Balance sheet date (expressed as weighted average)
(In %)
Pension
(Funded)
Gratuity
(Funded)
Leave Encashment
(Unfunded)
Discount rate
8.5
8.5
8.5
8.5
8.5
8.5
3.5
3.5
3.5
Particulars
Employee turnover
Not significant
LIC (1994-96) Table of Mortality Rates
Projected Unit Credit Method
Mortality
Method used
G. Basis of Actuarial assumption considered

Particulars
Basis of assumption
One year Interest rate
The estimate of future salary increase, considered in actuarial valuation takes into account inflation,
seniority, promotion and other relevant factors, such as supply and demand in employment market
333

NOTES TO ACCOUNTS
Pension
(Funded)
O (1). dV_mZ Ama JV Mma dfm| _| A{^km{nV am{e

{ddaU n|eZ
`moOZm AmpV`m|
A{Yeof /( H$_r)
( ` 000)
g_m dm
31-_mM-2012 31-_mM-2013 31-_mM-2014 31-Mar-2015
15960000
18400000
20970000
24200000
26950000
14936245
15017400
20970000
24200000
24171275
534755
(3226000)
2025600
3384623
360403
941026
3100454
2063700
3405045
3139128
(406271)
(125546)
38100
20422
0
( ` 000)
O (2). dV_mZ Ama JV Mma dfm| _| A{^km{nV am{e
{ddaU n|eZ

`moOZm AmpV`m|
A{Yeof /( H$_r)
31-Mar-2016
g_m dm
31-_mM-2012
31-_mM-2013
31-_mM-2014
31-_mM-2015
31-_mM-2016
5940000
6400000
6750000
6910000
7021000
5490439
5919200
6750000
6910000
6620508
293511
(345800)
198500
269023
(42319)
229265
298457
190000
119761
358173
64246
(47343)
(8500)
(149262)
19. H$_Mm[a`m| H$mo AnH$mbrZ gw{dYm

H$_Mmar mam XmZ H$s J`r godm H$s g_m{ Ho$ nMmV 12 _mh Ho$ AXa AnH$mbrZ H$_Mmar gw{dYm Ogo Eb Q>r Eg, {M{H$gm gw{dYm Am{X Omo nyUV Xo`
h, CgHo$ {bò AZw_mZ Ho$ AmYma na {Z{Y H$s `dWm H$s J`r h &
20. g~{YV nj H$m H$Q>rH$aU E Eg 18

NOTES TO ACCOUNTS
A)
(i)
(ii)
g~{YV nj H$m Zm_ Ama H$nZr Ho$ gmW CZH$m g~Y

ghmH$ H$nZr Oo{ZW goy[aQ>rO Ama {Zdoe {b{Q>oS>
g~ H$nZr B{S>`m BQ>aZoeZb B`ya|g mBdoQ> {b., qgJnwa
Ho$Z B{S>`m E`ya|g H$nZr {b{_Q>oS, Ho$`m
hoW Bya|g Q>r nr E B{S>m {b B{S>m
(iii) w ~YZ H$mnmbH$
lr. {{bX IamV, Aj-gh-~Y {ZXoeH$
lrVr. Amem Zma, {ZXoeH$ d hm ~YH$ (30.09.2015) VH$
lr E dr {J[aOm Hw$ma ,{ZXoeH$ d hm ~YH$ (20.07.2015) go $
lr E dr dr Mb_, {ZXoeH$ d hm ~YH$ (27.01.2016 go 29.02.2016)
334
Particulars (Pension)
( ` 000)
Year Ended
31-Mar-2012
31-Mar-2013 31-Mar-2014
31-Mar-2015
31-Mar-2016
15960000
18400000
20970000
24200000
26950000
Plan Assets
14936245
15017400
20970000
24200000
24171275
Surplus/ (Deficit)
534755
(3226000)
2025600
3384623
360403
941026
3100454
2063700
3405045
3139128
(406271)
(125546)
38100
20422
H. 2 Amount recognized in current year and previous four years:

Particulars (Gratuity)
H. 1 Amount recognized in current year and previous four years:
( ` 000)
Year Ended
31-Mar-2012
5940000
Plan Assets
31-Mar-2013 31-Mar-2014
31-Mar-2015
31-Mar-2016
6400000
6750000
6910000
7021000
5490439
5919200
6750000
6910000
6620508
Surplus/ (Deficit)
293511
(345800)
198500
269023
(42319)
229265
298457
190000
119761
358173
64246
(47343)
(8500)
(149262)
19. Short Term Benefits to employees

Short term employee benefits, which fall due wholly within twelve months after the end of the period in which the employees render the related
service, such as Leave Travel Subsidy (LTS), Medical Benefits, etc., are provided on the basis of estimates.
20. Related party disclosures: AS 18

a. Name of the related party and their relationship with the company:
i). Subsidiary
M/s. Zenith Securities and Investments Ltd.
ii). Associates
M/s. Ken India Assurance Co. Ltd., Kenya
M/s. Health Insurance TPA of India Ltd., India
iii). Key Management Personnel
Sri Milind Kharat, Chairman cum Managing Director
Smt. Asha Nair, Director & General Manager (Till 30-09-2015)
Sri. A V Girija Kumar, Director & General Manager (From 20-07-2015)
Sri. M V V Chalam, Director & General Manager (From 27-01-2016 to 29-02-2016)
335

NOTES TO ACCOUNTS
M/s. India International Insurance Pte. Ltd., Singapore
Am. boZXoZ H m {ddaU

H$
g.
( ` 000)
df Ho$ XmamZ H$m {ddaU
A.
df Ho$ XmamZ m bm^me
Am.
ogg B{S>m
BQ>aZoZb Byaog
m.{b.
{ddaU
ogg Ho$Z B{S>m

Ayaog H$.{b.
hoW Byaog Q>r

nr Am$ B{S>m {b
w ~YZ
H$mnmbH$
31.03.2016
35175
NIL
NIL
NIL
31.03.2015
35680
3169
Nil
Nil
31.03.2016
8217
Nil
Nil
Nil
31.03.2015
2080
Nil
Nil
Nil
31.03.2016
Nil
Nil
Nil
Nil
31.03.2015
Nil
Nil
Nil
Nil
31.03.2016
Nil
162
Nil
Nil
31.03.2015
Nil
153
Nil
Nil
31.03.2016
Nil
Nil
Nil
4910
31.03.2015
Nil
Nil
Nil
4736
31.03.2016
Nil
Nil
Nil
Nil
31.03.2015
Nil
Nil
Nil
Nil
nwZ~um boZXoZ
H$mo ~H$mm - j
go ~H$mm -j
B.

NOTES TO ACCOUNTS
B.
{ZXoeH$m| H$m nm[al{H$ - m
doVZ. ^Vm Ama AeXmZ
31.3.2015 H$mo eof

XV G U
H$nZr Ama CZH$s {Z`{V H$nZr am` gaH$ma Ho$ {ZÙmYrZ hmoZo go boIm _mZH$ E Eg -18 H$s AnojmAm| Ho$ AZwgma _| H$m` {ddaU go g~{YV H$Q>Z Zht
{H$`m J`m &
336
S. No
M/s. India
International
Insurance Pte Ltd.
M/s. Ken India

Assurance Co Ltd.
M/s. Health
Insurance TPA of
India Ltd.
31.03.2016
35175
NIL
NIL
NIL
31.03.2015
35680
3169
Nil
Nil
31.03.2016
8217
Nil
Nil
Nil
31.03.2015
2080
Nil
Nil
Nil
31.03.2016
Nil
Nil
Nil
Nil
31.03.2015
Nil
Nil
Nil
Nil
31.03.2016
Nil
162
Nil
Nil
31.03.2015
Nil
153
Nil
Nil
31.03.2016
Nil
Nil
Nil
4910
31.03.2015
Nil
Nil
Nil
4736
31.03.2016
Nil
Nil
Nil
Nil
31.03.2015
Nil
Nil
Nil
Nil
Particulars
Transactions during the year
a.
Dividend received during the year
b.
( ` 000)
Key Managerial
Personnel
b. Details of Transactions
Reinsurance transactions:
- Due to Direct
- Due from Direct
d.
Directors Remuneration Received
Salaries, Allowances and Contributions
Balances as on 31.03.2016
Loans given
Since the Company is State controlled, no disclosures are made pertaining to the transactions with other State controlled undertakings in
accordance with the requirements of the Accounting Standard AS-18.
337

NOTES TO ACCOUNTS
c.
21. Ho$ab gaH$ma mam Omar amQ>r dW ~rm moOZm hoVw gmdO{ZH$ joV ~rm H$n{Zm| mam gmy{hH$ {~qS>J mbo Ho$ g~Y | {damoYr {VnYmH$
Amg Ho$ Xmof hoVw ^maVr {VnYmH$ AmmoJ Zo AmXoe {XZmH$ 10.7.2015 Ho$ AVJV ` 1566200 H$m OwmZm bJmm h & h Anrb {VnYmH$
AnrboQ> A{^H$aU | XO {H$m Jm h Ama AV[a amoH$ XmZ H$s JB h & Anrb H m {ZnQ>mZ b{~V hmoZo go Ama {d{Y H$s am go {H$gr mdYmZ H$s
AmdH$Vm Zht h & {VnYmH$ AnrboQ> A{^H$aU Ho$ gj Anrb VwV H$aZo hoVw hZo ` 156620 hOma Om {H$m h Omo A{J Ama A Om
AZwgyMr 12 | gp{bV h &
22. boIm _mZH$ E Eg 20 Ho AZwgma {V eoà H$m Am` H$m H$Q>Z (nò hOmam| _|)
H$_ g.
{ddaU
1.
eoàYmaH$m| Ho$ {bE CnbY ew bm^ (nò hOmam| _|)
2.
^m[aV AmgV na Omar gm`me moàm| H$s g`m
3.
òH$ 10 Ho$ {V eoà go Am` (`)
31.03.2016
31.03.2015
2469378
3369610
150000000
150000000
16.46
22.46
H$nZr Ho$ nmg H$moB ~H$m`m _X g^m` gm`me eoà Zht h & BgHo$ n[aUm_d$n H$nZr Ho$ _yb Ama {V moà go m` Am` _| H$moB n[adVZ Zht h &
HnZs Zo ew nMm[bV nQQmo Hmo VhV [d[^m dm[Up`H Ama AmVmgsW \bQmo [b`m h & _o nQQo Hama gm_m`V: g_mpV na hs ZdsHV [HEo OmVo h nQQo Hs
eVo `[VJV Hama na AmYm[aV h & Mm[bV nQQo Ho g~Y _o amOd ImV Hm _mpV MQQo Hs [Ham`m `` ` 784728 hOma ` 847247 hOma h &
23. A. ^{d | nm H$a mo Am H$s C{MV {ZMVVm Ho$ A^md | 31.3.2016 H$mo W{JV H$a n[agn{Vm A{^km{nV Zht h &
Am. mmVm ~hr Ed Am H$a Ho$ AZwgma Wmr n[agnpVm Ho$ y Ho$ AVa Ho$ H$maU W{JV XoVm 10000 h &
24. ~YZ H$s am` _| H$nZr H$s n[agnpV`m| _| H moB _y`mg Zht h Omo boIm _mZH$ 28 Ho$ AZwgma gmm`moOZm H$s Anojm h &
25. {nN>br Ad{Y Ho$ _Xm| H$mo g~{YV erfm] Ho$ VhV gpm{bV {H$`m J`m h Ama {ddaU {ZZmZwgma h :
( ` 000)
31.03.2016
31.03.2015
nyd Ad{Y Am`
119208
11684
nyd Ad{Y ``
125493
76914

NOTES TO ACCOUNTS
{ddaU
26. mdYmZ H m {ddaU
( ` 000)
{ddaU
AdH$me ZH$XrH$aU Ho$ {bò mdYmZ
emo` Ama g{XY G$U Ho {bò mdYmZ
31.03.2016
31.03.2016
31.03.2015
31.03.2015
2220000
2070000
1962526
1815039
260000
150000
210627
184408
Cn`wV
{ZamH$aU
35572
36921
2480000
2220000
2137582
1962526
df Ho$ ma^ _| eof

OmoS>
df Ho$ AV _| eof
338
practices, in the matter relating to collective bidding by Public Sector Insurance Companies for RSBY Scheme floated by Government of
Kerala. The appeal has since been filed with Competition Appellate Tribunal and interim stay has been granted. Pending disposal of the
Appeal and based on legal opinion no provision is considered necessary. For filing appeal before Competition Appellate Tribunal we have
deposited a sum of `156620 thousands, which is included under Advances and Other Deposits (Schedule 12).
22. Disclosures as per AS 20 Earnings per Share

Sl. No.
Particulars
1.
Net Profit attributable to shareholders (` in thousands)
2.
Weighted Average Number of Equity Shares issued (in Nos.)
3.
Basic earnings per share of `10/- each (`)
31.03.2016
31.03.2015
2469378
3369610
150000000
150000000
16.46
22.46
21. Competition Commission of India (CCI) by order dated 10.07.2015 has imposed a penalty of `1566200 thousands alleging anti-competitive
The Company does not have any outstanding dilutive potential equity shares. Consequently, the basic and diluted earnings per share of the
Company remain the same.
The Company has taken various commercial premises and residential flats under cancellable operating leases. These lease agreements are
normally renewed on expiry. Lease terms are based on individual agreements. Lease rental expense in respect of operating leases charged to
revenue account is ` 784728 thousands (` 847247 thousands).
23. a) Deferred Tax Assets has not been recognized as on 31.03.2016 in the absence of reasonable/virtual certainty of sufficient
future taxable income.
b) Deferred Tax Liability on account of difference in carrying value of fixed assets as per books of account and income tax is
` 10 thousands.
24. In the opinion of the management, there is no impairment of assets of the company that require any adjustment to be made in terms of
Accounting Standard-28.
25. Prior period items have been included in the respective heads and consist of the following:
31.03.2016
31.03.2015
Prior period income
119208
11684
Prior period expenses
125493
76914
26. Details of Provisions

Particulars
Opening balance
( ` 000)
Provision for Leave Encashment Long term
31.03.2016
31.03.2015
Provision for Bad and Doubtful Debts

31.03.2016
31.03.2015
2220000
2070000
1962526
1815039
Additions
260000
150000
210627
184408
Utilization
Reversals
35572
36921
2480000
2220000
2137582
1962526
Closing balance
339

NOTES TO ACCOUNTS
( ` 000)
Particulars
27.n`mdaU Ama dZ _mb` Zo amOn A{YgyMZm {XZm{H$V 4.11.08

Ama CnamV A{YgyMZm g Eg Amo 256 {XZm{H$V 27.01.2016
Ho$ _m`_ go H$nZr H$mo nmM df H$s Ad{Y Ho {cE n`mdaU amhV
{Z{Y Ho {Z{Y ~YH Ho $n _| {Z`wV H$s h& CgHo$ nMmV
Omar A{YgyMZm Ho$ AZwgma H$nZr H$mo {Z{Y ~YH Ho $n _|
30.06.2016 VH$ ~T>m`m J`m h& {Z_mU, H s Umbr gm{d{YH
AnojmAm| Ama A` MmbZ _m_bm| Ho$ g~Y _| nQ>rH$aU Ano{jV
h& H${WV A{YgyMZm Ho$ AZwgma H$nZr Zo {Z{Y ~YH$ godm ^ma
Ho$ {bE df Ho$ XmamZ ` 6235 hOma ` 8749 hOma H$mo Am` Ho$
$n _| _m`Vm Xr h, `h {Z{Y Ho$ AZno{jV boIm Ho$ AmYma na h&
28._mBH$mo, bKw, _` C_ {dH$mg A{Y{Z`_ 2006 H$s Ymam 22 Ho$
VhV _mBH$mo Ama bKw, C_ H$mo {db~ go ^wJVmZ A`m` Ho$ AYrZ
Ano{jV H$Q>rH$aU &
1. df Ho$ AV H$mo {H$gr ^r Amny{VH$Vm Ho$ {bò AXV eof _yb YZ am{e
2. CnamoV am{e na `mO
3._mBH$mo, bKw, _` C_ {dH$mg A{Y{Z`_ 2006 H$s Ymam 16 Ho$ AZwgma ^wJVmZ `mO H$s am{e
4. df Ho$ XmamZ {ZYm[aV {Xdg Ho$ ~mX Amny{VH$Vm H$mo ^wJVmZ H$s J`r am{e
5{db~ go ^wJVmZ H$aZo Ho$ {bò ~H$m`m Ama Xo` `mO H$s am{e naVw A{Y{Z`_ Ho$ VhV {Z{XQ> `mO H$mo OmoS>o {~Zm &
6.df Ho$ AV _| A{OV Ama ~H$m`m AXV `mO H$s am{e
31.03.2016
31.03.2015
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
HnZs Ho nmg CnbY OmZHmas Ho AmYma na nhMmZs Om`s nm[Q`mo Hm [ddaU g_o[HV [H`m J`m h &
29.AmB.Ama.S>r.E. Ho$ _mZXS> Ho$ AZwgma {dVr` {ddaU _| d{UV {hgo _| AmH$S>o nò hOmam| _| h&

NOTES TO ACCOUNTS
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm

gZXr boImH$ma
E\$AmaEZ 000511Eg
^mJrXma
gX`Vm g . 201825
{ZXoeH$JU

gZXr boImH$ma
E\$AmaEZ 01931Eg
grE EZ. Ama gwaoe
^mJrXma
gX`Vm g . 021661
WmZ: Mo
{XZmH$ : 13 _B, 2016
340

{_{bX IamV
A`j-gh-~Y {ZXoeH
dr.B.H$_b
{dVr` gbmhH$ma
Eg. d|H$Q>am_Z
H$nZr g{Md
gZXr boImH$ma
E\$AmaEZ 02510Eg
grE EZ. a_Ur
^mJrXma
gX`Vm g . 022438
operational issues, the Company in terms of the said notification

has recognized Fund Managers service charges to the tune of
` 6235 thousands (` 8749 thousands) as income during the
year, based on the unaudited accounts of the Fund.
28. Disclosures required under Section 22 of Micro, Small and
Medium Enterprises Development Act 2006 under the Chapter
on Delayed Payments to Micro and Small Enterprises
31.03.2016
31.03.2015
Principal amount remaining unpaid to any supplier as at the end of the year
Nil
Nil
Interest due on the above amount
Nil
Nil
Amount of interest paid in terms of Section 16 of the MSMED Act, 2006.
Nil
Nil
Amount of payments made to the suppliers beyond the appointed day during the year
Nil
Nil
Amount of interest due and payable for the delay in making the payment but without adding the interest
specified under Act
Nil
Nil
Amount of interest accrued and remaining unpaid at the end of the year
Nil
Nil
27. The Company was appointed as Fund Manager for Environment

Relief Fund (ERF) vide Ministry of Environment and Forests
Gazette Notification dated 4.11.2008 for a period of five years
and vide subsequent notification no. S.O 256 (E) dated 27th
January, 2016, the companys position as Fund Manager was
extended upto 31st March 2016. Pending receipt of clarification
regarding Constitution, statutory requirements and other
The above information have been compiled to the extent such parties have been identified on the basis of information available with the company.
29. Figures in the narrative part of financial statements are in thousands of Rupees, conforming to IRDAI norms.
V E KAIMAL
FINANCIAL ADVISOR
DIRECTORS
S VENKATARAMAN
COMPANY SECRETARY
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
Place: Chennai
341

NOTES TO ACCOUNTS
Alok Tandon
A V Girija Kumar
A Hoda
MILIND KHARAT
E Amo gr -1
\$m_ E Amo gr -1
(Ymam 129 H$s Cn Ymam 3 Ho$ W_ mdYmZ Ho$ gmW n{R>V H$nZr boIm {Z`_ 2014 Ho$ {Z`_ 5 Ho$ AZwgma )
{ddaU _| {Z`{VV /g~X H$n{Z`m/ OmBQ> d|Ma Ho$ {dVr` {ddaU H$s _I {deofVmE gp_{bV h &
^mJ " E ' {Z`{VV H$nZr
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
H$_ g
{Z`{VV H$nZr H$m Zm_
{Z`{VV H$nZr H$s [anmo{Q>J Ad{Y `{X {Z`VH$ H$nZr H$s [anmo{Q>J Ad{Y go AbJ hmo
{dXomr {Z`{VV H$nZr Ho$ g~Y _| g~{YV {dVr` df H$s A{V_ {V{W H$mo [anmo{Q>J _wm Ama
{d{Z_` Xa
eoà nyOr
Hw$b n[agnpV`m
Hw$b Xo`VmE
{Zdoe
Hw$b {~H$s
H$a Ho$ nyd bm^
H$a Ho${bE mdYmZ
H$a Ho$ ~mX bm^
Vm{dV bm^me
Am{Yn` H$m {VeV
(` 000)
1
Oo{ZW go`y[aQ>rO ES> BdoQ>_|Q>g {b{_Q>oS>

bmJy Zht
bmJy Zht
2000
147949
166114
16165
134035
10176
8308
0
8308
1600
69.45%
ZmoQ>:
1
2
{Z`{VV H$nZr Omo AnZm MmbZ ew Zht {H$`m

df Ho$ XmamZ {Z`{VV H$nZr Omo AnZm MmbZ n[ag_m `m {dH$` {H$`m
FORM AOC - 1
AbmoH$ Q>S>Z
E.dr. {J[aOm Hw$_ma
E. hmoXm

gZXr boImH$ma
E\$AmaEZ 000511Eg
^mJrXma
gX`Vm g . 201825
{ZXoeH$JU

gZXr boImH$ma
E\$AmaEZ 01931Eg
grE EZ. Ama gwaoe
^mJrXma
gX`Vm g . 021661
WmZ: Mo
{XZmH$ : 13 _B, 2016
342
H$moB Zht
H$moB Zht
{_{bX IamV
A`j-gh-~Y {ZXoeH
dr.B.H$_b
{dVr` gbmhH$ma
Eg. d|H$Q>am_Z
H$nZr g{Md
gZXr boImH$ma
E\$AmaEZ 02510Eg
grE EZ. a_Ur
^mJrXma
gX`Vm g . 022438
FORM AOC-1
(Pursuant to first provisio to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014)
Statement containing salient features of the financial statement of

subsidiaries/associate companies/joint ventures
Part A: Subsidiaries
(` 000)
1
Sl. No.
Name of the subsidiary
Reporting period for the subsidiary concerned, if different from the holding
companys reporting period
N.A
Reporting currency and Exchange rate as on the last date of the relevant Financial
year in the case of foreign subsidiaries.
N.A
Share capital
Reserves & surplus
147949
Total assets
166114
Total Liabilities
Investments
10
Turnover
11
Profit before taxation
8308
12
Provision for taxation
13
Profit after taxation
8308
14
Proposed Dividend
1600
15
% of shareholding
69.45%
AOC-I
ZENITH SECURITIES AND INVESTMENT LTD
2000
16165
134035
10176
Notes:
1
Names of Subsidiaries which are yet to commence operations
NIL
Names of Subsidiaries which have been liquidated or sold during the year
NIL
V E KAIMAL
FINANCIAL ADVISOR
DIRECTORS
S VENKATARAMAN
COMPANY SECRETARY
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
Place: Chennai
343
FORM AOC - 1
Alok Tandon
A V Girija Kumar
A Hoda
MILIND KHARAT
^mJ ~r g~X H$n{Z`m Ama OmBQ> d|Ma

g~X H$n{Z`m OmBQ> d|Ma H$nZr Ho$ g~Y _| H$nZr A{Y{Z`_ 2013 H$s Ymam 129 (3) Ho$ AZwgma {ddaU
^mJ " ~r ' {Z`{VV H$nZr

(` 000)
H$_ g
1
2
3
4
5
6
i
ii
hoW B`ya|g Q>r nr E Am\$

B{S>`m {b
g~X OmBQ> d|Ma H$m Zm_

A`VZ boIm nar{jV VwbZ nV H$s {V{W
df Hr g_m{ na H$nZr Ho$ {Z`VU _| g~ OmBQ> d|Ma Ho$ eoà
g`m
g~ H$nZr OmBQ> d|Ma _| {Zdoe H$s am{e
Am{Yn` {VeV H$s gr_m
~Vm`| {H$ H$go _hdnyU ^md h
H$maU ~Vm`| {H$ g~ OmBQ> doMa H$s boIm H$mo `m| g_o{H$V Zht {H$`m J`m
A`VZ boIm nar{jV VwbZ nV Ho$ AZwgma eoàYmaU H$mo XV ZoQ>dW
df Ho$ bm^ hm{Z
I) g_o{H$V _| gp_{bV
I) g_o{H$V _| Ja gp_{bV
B{S>`m BQ>aZoeZb B`yaog

m {b qgJnwa
31.03.2016
31.12.2015
16625000*
10000000
166250
18276
23.75%
20%
eoàYmaU Ho$ AmYma na

bmJy Zht
eoàYmaU Ho$ AmYma na

bmJy Zht
137391
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298362
-14103
1193447
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PART B ASSOCIATES
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344
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Part B: Associates
(` 000)
SL.
No.
INDIA INTERNATIONAL
INSURANCE PTE LTD,
SINGAPORE
HEALTH INSURANCE TPA

OF INDIA LIMITED
Name of Associates/Joint Ventures
Latest audited Balance Sheet Date
Shares of Associate/Joint Ventures held by the company on the year

end
No.
31.03.2016
31.12.2015
16625000*
10000000
Amount of Investment in Associates/Joint Venture
166250
18276
Extend of Holding %
23.75%
20%
By Shareholding
By shareholding
Description of how there is significant influence
Reason why the associate/joint venture is not Consolidated
Networth attributable to Shareholding as per latest audited Balance

Sheet
Profit / Loss for the year
Considered in Consolidation
ii
Not Considered in Consolidation
N.A
N.A
137391
4140729
-4393
298362
-14103
1193447
Statement pursuant to section 129(3) of the Companies Act, 2013 related to

Associate Companies and Joint Ventures
*(including one share held by Nominee Director)

Notes:
1
Names of Associates/Joint Ventures which are yet to commence operations
NIL
Names of Associates/Joint Ventures which have been liquidated or sold

during the year
NIL
V E KAIMAL
FINANCIAL ADVISOR
DIRECTORS
S VENKATARAMAN
COMPANY SECRETARY
For Brahmayya & Co.

FRN: 000511S

FRN: 01931S

FRN: 02510S
CA Jitendra Kumar K
Partner
CA N R Suresh
Partner
CA N Ramani
Partner
Place: Chennai
345
PART B ASSOCIATES
Alok Tandon
A V Girija Kumar
A Hoda
MILIND KHARAT

NOTES:
346
NOTES:
347

NOTES:
348
NOTES:
349

NOTES:
350
NOTES:
351

NOTES:
352
dm{fH n{VdoXZ / ANNUAL REPORT
www.uiic.co.in
Designed & Printed by Adwit (India) Pvt Ltd.
*Insurance is the subject matter of solicitation
2015 - 2016
THE RESULT IS EVIDENT

WHEN WE ARE TOGETHER.
www.uiic.co.in

Annual Report Bilingual 2015-16

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Annual Report Bilingual 2015-16

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dm{fH n{VdoXZ / ANNUAL REPORT

Designed & Printed by Adwit (India) Pvt Ltd.

*Insurance is the subject matter of solicitation

THE RESULT IS EVIDENT

{ZXoeH$ S>b H$m {VdoXZ /Report of the Board of Directors

Q>oS> AbmoZ {dmr` {ddaU / STANDALONE FINANCIAL STATEMENTS

amOd ImVm / Revenue Accounts

bm^ Ama hm{Z ImVm / Profit and Loss Account

VwbZ n / Balance Sheet

{d^mOZ {VdoXZ / Segmental Report

Ho$e bmo {ddaU / Cash Flow Statement

hdnyU boIm Zr{V`m / Significant Accounting Policies

boIm AZwnmV / Accounting Ratios

{dmr` {ddaU H$m gmame / Summary of Financial Statements

~YZ {VdoXZ / Management Report

Xmdm| H$m dfdma {ddaU / Ageing of Claims

go{H$V {dmr` {ddaU / CONSOLIDATED FINANCIAL STATEMENTS

amOd ImVm / Revenue Accounts

bm^ Ama hm{Z ImVm / Profit and Loss Account

VwbZ n / Balance Sheet

{d^mOZ {VdoXZ / Segmental Report

Ho$e bmo {ddaU / Cash Flow Statement

hdnyU boIm Zr{V`m / Significant Accounting Policies

$m E.Amo.gr.-1 / FORM AOC-I

dm{fH n{VdoXZ / ANNUAL REPORT 2015-16

dm{fH n{VdoXZ / ANNUAL REPORT 2015-16

dm{fH n{VdoXZ / ANNUAL REPORT 2015-16

{ZXoeH$ S>b / BOARD OF DIRECTORS

Chairman-cum-Managing Director (Till 31. 05. 2016)

Chairman-cum-Managing Director (Officiating)

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KISHORE KUMAR SANSI

A.V. GIRIJA KUMAR

Director & General Manager

dm{fH n{VdoXZ / ANNUAL REPORT 2015-16

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DIRECTORS AND EXECUTIVES

/ DIRECTORS AND EXECUTIVES

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Deputy General Managers

A Hoda (Officiating) (from 8.6.2016)

dm{fH n{VdoXZ / ANNUAL REPORT 2015-16

Key Managerial Personnel

Chief Financial Officer

Milind Kharat, CMD

Chief Vigilance Officer

Chief Grievance Officer

Deputy General Managers

A V Girija Kumar, General Manager

Principal Compliance Officer

Chief Compliance Officer

Compliance Officer Corporate Governance

Chief Public Information Officer

DIRECTORS AND EXECUTIVES

D Nagalakshmi, Deputy General Manager

dm{fH n{VdoXZ / ANNUAL REPORT 2015-16

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dm{fH n{VdoXZ / ANNUAL REPORT 2015-16

RECOGNITION FOR THE COMPANY

dm{fH n{VdoXZ / ANNUAL REPORT 2015-16

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To declare Dividend on Equity Shares.