Format of revenue account under General Insurance

Format of revenue account under General Insurance

By Bharti Ranade

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	Particulars	Schedule	Current Year	Previous Year
			(Rs.’000)	(Rs.’000)
1.	Premiums earned (Net)	1
2.	Others (to be specified)
3.	Change in provision for unexpired risk
4.	Interest, Dividend & Rent – Gross
	TOTAL (A)
1.	Claims Incurred (Net)	2
2.	Commission	3
3.	Operating Expenses related to Insurance Business	4
4.	Others – To be specified
	TOTAL (B)
	Operating Profit/(Loss) from Fire/Marine/Miscellaneous Business (A - B)

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	Particulars	Schedule	Current Year	Previous Year
			(Rs.’000)	(Rs.’000)
1.	OPERATING PROFIT/(LOSS)
	(a) (b)                 Marine Insurance (c)                 Miscellaneous Insurance
2.	INCOME FROM INVESTMENTS
	(a) Interest, Dividend & Rent – Gross (b) Profit on sale of investments       Less: Loss on sale of investments
3.	OTHER INCOME (To be specified)
	TOTAL (A)
4.	PROVISIONS (Other than taxation)
	(a) (b)                 Others (to be specified)
5.	OTHER EXPENSES
	(a) (b)     Others (To be specified)
	TOTAL (B)
	Profit Before Tax
	Provision for Taxation
	Profit After Tax
	Less: Catastrophe Reserve
	Profit available for appropriation
	APPROPRIATIONS
	(a) (b)                 Proposed final dividend (c)                 Dividend distribution tax (d)                 Transfer to any Reserves or Other Accounts (to be specified)
	Balance of profit/ loss brought forward from last year
	Balance carried forward to Balance Sheet