Reading Financial Statements

Bharti AXA

Revenue Expenses = Profit (loss)


Liabilities + Equity = Assets
Revenue
Operating profit
(loss)
Income from
investments
Other income
Operating Profit
PLUS
Net Premium Earned
P/L on sale of invts
Interest, Dividend &
Rent (Gross)
Other income
Operating Profit
MINUS
Net Claims Incurred
Commission
Operating expenses
Premium deficiency
Form : NL-4

Premium Schedule
FY 2010 FY 2009
Premium from direct business written 3,108 285
Service Tax 275 31
Adjustment for change in reserve for
unexpired risks
1,731 220
Gross Earned Premium 1,376 64
Add: Premium on reinsurance accepted 135 38
Less : Premium on reinsurance ceded 1,377 198
Net Premium 1,866 124
Adjustment for change in reserve for
unexpired risks
1,030 151
Premium Earned (Net) 836 (27)
In million rupees
Gross Written Premium
Premium on R/I accepted
Premium on R/I ceded

Net Written Premium

FY 2010 FY 2009
Premium from direct business written 3,108 285
Service Tax 275 31
Adjustment for change in reserve for
unexpired risks
1,731 220
Gross Earned Premium 1,376 64
Add: Premium on reinsurance accepted 135 38
Less : Premium on reinsurance ceded 1,377 198
Net Premium 1,866 124
Adjustment for change in reserve for
unexpired risks
1,030 151
Premium Earned (Net) 836 (27)
In million rupees
Net Written Premium
Unexpired Premium Reserve

Net Earned Premium

FY 2010 FY 2009
Premium from direct business written 3,108 285
Service Tax 275 31
Adjustment for change in reserve for
unexpired risks
1,731 220
Gross Earned Premium 1,376 64
Add: Premium on reinsurance accepted 135 38
Less : Premium on reinsurance ceded 1,377 198
Net Premium 1,866 124
Adjustment for change in reserve for
unexpired risks
1,030 151
Premium Earned (Net) 836 (27)
In million rupees
B-AXA
GWP
3,108
R/I accepted (ceded)
(1,242)
NWP
1,866
UPR
1,030
NEP
836
In million rupees
B-AXA I-LOM T-AIG
GWP
3,108 32,950 8,537
R/I accepted (ceded)
(1,242) (9,809) (2,738)
NWP
1,866 23,141 5,799
UPR
1,030 1,212 (97)
NEP
836 21,928 5,702
In million rupees
Description GWP NWP NWP/GWP
Fire 375 56 15%
Marine Cargo 55 27 49%
Motor 1,845 1,426 77%
Engineering 140 28 20%
Liabilities 32 20 62%
Others 269 38 14%
Health 492 272 55%
Total 3,108 1,866 58%
In million rupees
Form : xxxxx

P/L on Sale or Redemption of
Investments
Expenses
Net Claims Incurred
Net Commission
Operating expenses
Others
Form : NL-5

Claims Schedule
FY 2010 FY 2009
Direct Claims 513 10
Add: R/I accepted to direct claims 5 -
Less: R/I ceded to direct claims 140 1
Net Claims Paid 378 9
Add: Claims O/s at end of year 504 20
Less: Claims O/s at beginning of year 20 -
Total Claims Incurred 862 29
In million rupees
Claims
IBNR, IBNER
Claims settlement costs
Legal, fees & expenses
Est salvage value
Form NL-24 : Ageing of Claims
Line of Business
No. of claims paid (months)
No. of
claims
paid
Amt of
claims
paid
Less
than 1
1 3 4 6 7 12 > 12
Fire 21 16 21 7 0 65 82
Marine Cargo 82 67 32 9 0 190 6
Engineering 28 42 47 15 0 132 14
Motor OD 12525 3314 499 83 0 16421 302
Motor TP 4 6 9 15 2 36 3
Health 1760 734 72 3 0 2569 60
Personal Accident 20 19 15 3 1 58 42
Liability 1 4 7 3 0 15 2
Miscellaneous 353 114 48 7 0 522 1
Total 14794 4316 750 145 3 20008 513
Line of Business
No. of
claims paid
Amt of claims
paid
Amt per
claim
Fire 65 82 1,260,000
Marine Cargo 190 6 31,000
Engineering 132 14 106,000
Motor OD 16421 302 18,000
Motor TP 36 3 83,000
Health 2569 60 23,000
Personal Accident 58 42 725,000
Liability 15 2 133,000
Miscellaneous 522 1 2,000
Total 20008 513 25,000
Form : NL-6

Commission Schedule
FY 2010 FY 2009
Direct Commission 108 13
Add: Commission on R/I accepted 4 1
Less: Commission on R/I ceded 216 25
Net Commission (104) (11)
In million rupees
Form : NL-7

Operating Expenses Schedule
Summarize

FY 2010 FY 2009
Net Premiums Earned 836 (27)
P/L on sale of invt 0 7
Gross Int, Div & Rent 58 14
Others 2 13
Total Revenue 896 8
In million rupees
B-AXA I-LOM T-AIG
Net Premiums Earned 836 21,928 5,897
P/L on sale of invt 0 1,570 115
Gross Int, Div & Rent 58 1,483 553
Others 2 5 16
Total Revenue 896 24,813 6,551
In million rupees




Reinsurance