Life Non- Participating Variable(VIP)

60 Pages·2017·2.67 MB·English

FORM L-1-A-RA
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED
Registration No: 107; Date of Registration: January 10, 2001
SEGMENT-WISE REVENUE ACCOUNT FOR THE QUARTER ENDED JUN 30, 2017 (Audited)
Policyholders' Account (Technical Account)
(Amounts in thousands of Indian Rupees)
Particulars Schedule Life Participating Pension Life Non -Life Non- Pension Non- General Unit Linked Unit Linked Total
Participating Participating Participating Participating Annuity Pension
Variable(VIP) Variable(VIP)
Premiums earned - net
(a) Premium Income L-4 22,00,406 1 0,043 38,81,181 2 ,17,550 46,210 40,946 30,34,156 2,90,048 9 7,20,540
(b) Reinsurance Ceded (3,203) ( 20) ( 2,42,575) ( 0) - - (9,223) (5) (2,55,026)
(c) Reinsurance accepted - - - - - - - - -
SUB-TOTAL 21,97,203 1 0,023 36,38,606 2 ,17,550 46,210 40,946 30,24,933 2,90,043 9 4,65,514
Income from Investments
(a) Interest, Dividends and Rent Gross 6 ,07,181 1 8,639 6,69,207 1 3,591 38,505 12,285 11,57,109 1,29,289 2 6,45,806
(b) Profit on sale/redemption of investments 9 9,804 4,608 1,18,136 1,961 2,563 276 19,81,533 2,18,087 2 4,26,968
(c) (Loss on sale/redemption of investments) (6,387) ( 210) (1,228) ( 118) ( 192) - ( 2,85,020) ( 26,810) (3,19,965)
(d) Transfer/ Gain on revaluation/change in fair value* - - - - - - 13,69,164 65,045 1 4,34,209
SUB-TOTAL 7 ,00,598 2 3,037 7,86,115 1 5,434 40,876 12,561 42,22,786 3,85,611 6 1,87,018
Contribution from Shareholder's Account - - - 1 1,654 281 4,673 - - 1 6,608
Other Income
(a) Miscellaneous income 4 ,540 4 765 10 2 2 8,020 32 1 3,375
(b) Profit/(Loss) on sale/disposal of fixed assets (Net) 293 1 516 29 6 5 403 39 1,292
SUB-TOTAL 4 ,833 5 1,281 39 8 7 8,423 71 1 4,667
TOTAL(A) 29,02,634 3 3,065 44,26,002 2 ,44,677 87,375 58,187 72,56,142 6,75,725 1,56,83,807
Commission L-5 2 ,56,558 260 1,10,738 - - 494 54,771 631 4 ,23,452
Operating Expenses related to Insurance business L-6 10,30,083 637 8,50,475 1 2,297 2,991 3,707 4,16,037 15,357 2 3,31,584
Service Tax Expenditure - - - - - - 96,630 5,219 1 ,01,848
Provision for doubtful debts - - - - - - - - -
Bad debts written off - - - - - - - - -
Provision for Tax 5 ,182 - 1,04,338 (2,180) - - (18,843) - 8 8,497
Provisions (other than taxation)
(a) Diminution in the value of investments(Net) 7 ,468 - 7,470 - - - - - 1 4,938
(b) For standard loan assets (198) - (135) - - - - - ( 333)
TOTAL(B) 12,99,093 897 10,72,886 1 0,117 2,991 4,201 5,48,595 21,207 2 9,59,986
Benefits paid (net) L-7 5 ,58,117 8,051 12,93,955 5 5,460 9,602 9,395 38,57,052 4,51,521 6 2,43,153
Interim & Terminal Bonuses paid 3 4,224 347 - - - - - - 3 4,571
Change in valuation of Liability in respect of Life policies
(a) Gross ** 9 ,68,394 9,424 15,15,623 1 ,79,099 74,782 44,592 53,812 4,257 2 8,49,983
(b) Amount ceded in reinsurance - - (30,280) - - - - - (30,280)
(c) Amount accepted in reinsurance - - - - - - - - -
Provision for linked liabilities - - - - - - 26,56,757 1,64,445 2 8,21,202
TOTAL( C) 15,60,735 1 7,822 27,79,298 2 ,34,559 84,384 53,987 65,67,621 6,20,223 1,19,18,629
SURPLUS/(DEFICIT) (D)=(A)-(B)-(C) 4 2,806 1 4,345 5,73,819 - - 0 1,39,926 34,295 8 ,05,192
APPROPRIATIONS
Transfer to Shareholders’-Account - - - - - - - - -
Transfer to Other Reserve - - - - - - - - -
Transfer to Funds for Future Appropriation - - - - - - - - -
Surplus after Appropriation 4 2,806 1 4,348 5,73,818 - - 0 1,39,928 34,292 8 ,05,192
TOTAL(D) 4 2,806 1 4,348 5,73,818 - - 0 1,39,928 34,292 8 ,05,192
SURPLUS/(DEFICIT) BROUGHT FORWARD 15,90,289 1 ,97,501 - - - - - - 1 7,87,790
Surplus after Appropriation 4 2,806 1 4,348 5,73,818 - - 0 1,39,928 34,292 8 ,05,192
SURPLUS/(DEFICIT) CARRIED FORWARD TO BALANCE SHEET 16,33,095 2 ,11,849 5,73,818 - - 0 1,39,928 34,292 2 5,92,982
(a) Interim & Terminal Bonuses Paid 3 4,224 347 - - - - - - 3 4,571
(b) Allocation of Bonus to Policyholders - - - - - - - - -
(c) Surplus/ (Deficit) shown in the Revenue Account 4 2,806 1 4,348 5,73,818 - - 0 1,39,928 34,292 8 ,05,192
Total Surplus: [(a) + (b) + (c)] 7 7,030 1 4,695 5,73,818 - - 0 1,39,928 34,292 8 ,39,763
The Schedules are an integral part of this Revenue Account.
* represents the deemed realised gain as per norms specified by the Authority.
** represents Mathematical Reserves after allocation of bonus.
Page 1 of 60
FORM L-1-A-RA
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED
Registration No: 107; Date of Registration: January 10, 2001
SEGMENT-WISE REVENUE ACCOUNT UPTO THE QUARTER ENDED JUN 30, 2017 (Audited)
Policyholders' Account (Technical Account)
(Amounts in thousands of Indian Rupees)
Particulars Schedule Life Participating Pension Life Non -Life Non- Pension Non- General Unit Linked Unit Linked Total
Participating Participating Participating Participating Annuity Pension
Variable(VIP) Variable(VIP)
Premiums earned - net
(a) Premium Income L-4 22,00,406 1 0,043 38,81,181 2 ,17,550 46,210 40,946 30,34,156 2,90,048 9 7,20,540
(b) Reinsurance Ceded (3,203) ( 20) ( 2,42,575) ( 0) - - (9,223) (5) (2,55,026)
(c) Reinsurance accepted - - - - - - - - -
SUB-TOTAL 21,97,203 1 0,023 36,38,606 2 ,17,550 46,210 40,946 30,24,933 2,90,043 9 4,65,514
Income from Investments
(a) Interest, Dividends and Rent Gross 6 ,07,181 1 8,639 6,69,207 1 3,591 38,505 12,285 11,57,109 1,29,289 2 6,45,806
(b) Profit on sale/redemption of investments 9 9,804 4,608 1,18,136 1,961 2,563 276 19,81,533 2,18,087 2 4,26,968
(c) (Loss on sale/redemption of investments) (6,387) ( 210) (1,228) ( 118) ( 192) - ( 2,85,020) ( 26,810) (3,19,965)
(d) Transfer/ Gain on revaluation/change in fair value* - - - - - - 13,69,164 65,045 1 4,34,209
SUB-TOTAL 7 ,00,598 2 3,037 7,86,115 1 5,434 40,876 12,561 42,22,786 3,85,611 6 1,87,018
Contribution from Shareholder's Account - - - 1 1,654 281 4,673 - - 1 6,608
Other Income
(a) Miscellaneous income 4 ,540 4 765 10 2 2 8,020 32 1 3,375
(b) Profit/(Loss) on sale/disposal of fixed assets (Net) 293 1 516 29 6 5 403 39 1,292
SUB-TOTAL 4 ,833 5 1,281 39 8 7 8,423 71 1 4,667
TOTAL(A) 29,02,634 3 3,065 44,26,002 2 ,44,677 87,375 58,187 72,56,142 6,75,725 1,56,83,807
Commission L-5 2 ,56,558 260 1,10,738 - - 494 54,771 631 4 ,23,452
Operating Expenses related to Insurance business L-6 10,30,083 637 8,50,475 1 2,297 2,991 3,707 4,16,037 15,357 2 3,31,584
Service Tax Expenditure - - - - - - 96,630 5,219 1 ,01,848
Provision for doubtful debts - - - - - - - - -
Bad debts written off - - - - - - - - -
Provision for Tax 5 ,182 - 1,04,338 (2,180) - - (18,843) - 8 8,497
Provisions (other than taxation)
(a) Diminution in the value of investments(Net) 7 ,468 - 7,470 - - - - - 1 4,938
(b) For standard loan assets (198) - (135) - - - - - ( 333)
TOTAL(B) 12,99,093 897 10,72,886 1 0,117 2,991 4,201 5,48,595 21,207 2 9,59,986
Benefits paid (net) L-7 5 ,58,117 8,051 12,93,955 5 5,460 9,602 9,395 38,57,052 4,51,521 6 2,43,153
Interim & Terminal Bonuses paid 3 4,224 347 - - - - - - 3 4,571
Change in valuation of Liability in respect of Life policies
(a) Gross ** 9 ,68,394 9,424 15,15,623 1 ,79,099 74,782 44,592 53,812 4,257 2 8,49,983
(b) Amount ceded in reinsurance - - (30,280) - - - - - (30,280)
(c) Amount accepted in reinsurance - - - - - - - - -
Provision for linked liabilities - - - - - - 26,56,757 1,64,445 2 8,21,202
TOTAL( C) 15,60,735 1 7,822 27,79,298 2 ,34,559 84,384 53,987 65,67,621 6,20,223 1,19,18,629
SURPLUS/(DEFICIT) (D)=(A)-(B)-(C) 4 2,806 1 4,345 5,73,819 - - 0 1,39,926 34,295 8 ,05,192
APPROPRIATIONS
Transfer to Shareholders’-Account - - - - - - - - -
Transfer to Other Reserve - - - - - - - - -
Transfer to Funds for Future Appropriation - - - - - - - - -
Surplus after Appropriation 4 2,806 1 4,348 5,73,818 - - 0 1,39,928 34,292 8 ,05,192
TOTAL(D) 4 2,806 1 4,348 5,73,818 - - 0 1,39,928 34,292 8 ,05,192
SURPLUS/(DEFICIT) BROUGHT FORWARD 15,90,289 1 ,97,501 - - - - - - 1 7,87,790
Surplus after Appropriation 4 2,806 1 4,348 5,73,818 - - 0 1,39,928 34,292 8 ,05,192
SURPLUS/(DEFICIT) CARRIED FORWARD TO BALANCE SHEET 16,33,095 2 ,11,849 5,73,818 - - 0 1,39,928 34,292 2 5,92,982
(a) Interim & Terminal Bonuses Paid 3 4,224 347 - - - - - - 3 4,571
(b) Allocation of Bonus to Policyholders - - - - - - - - -
(c) Surplus/ (Deficit) shown in the Revenue Account 4 2,806 1 4,348 5,73,818 - - 0 1,39,928 34,292 8 ,05,192
Total Surplus: [(a) + (b) + (c)] 7 7,030 1 4,695 5,73,818 - - 0 1,39,928 34,292 8 ,39,763
The Schedules are an integral part of this Revenue Account.
* represents the deemed realised gain as per norms specified by the Authority.
** represents Mathematical Reserves after allocation of bonus.
Page 2 of 60
FORM L-1-A-RA
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED
Registration No: 107; Date of Registration: January 10, 2001
SEGMENT-WISE REVENUE ACCOUNT FOR THE QUARTER ENDED JUN 30, 2016 (Audited)
Policyholders' Account (Technical Account)
(Amounts in thousands of Indian Rupees)
Particulars Schedule Life Pension Life Non -Life Non- Pension Non- General Unit Linked Unit Linked Total
Participating Participating Participating Participating Participating Annuity Pension
Variable(VIP) Variable(VIP)
Premiums earned - net
(a) Premium Income L-4 16,65,553 7,058 32,85,056 35,000 6,55,637 14,314 21,59,775 61,362 78,83,755
(b) Reinsurance Ceded (2,891) (16) ( 1,89,906) - - - (7,248) 1,986 ( 1,98,075)
(c) Reinsurance accepted - - - - - - - - -
SUB-TOTAL 16,62,662 7,042 30,95,150 35,000 6,55,637 14,314 21,52,528 63,348 76,85,680
Income from Investments
(a) Interest, Dividends and Rent Gross 5,12,542 18,508 4,89,834 22,500 33,395 8,093 10,62,100 1,12,083 22,59,055
(b) Profit on sale/redemption of investments 1,50,272 3,728 77,249 5,134 3,520 63 13,91,328 1,61,514 17,92,808
(c)Loss on sale/redemption of investments (14,378) (692) (19,826) - (330) - ( 5,91,484) (50,239) ( 6,76,949)
(d) Transfer/ Gain on revaluation/change in fair value* - - - - - - 39,89,815 2,94,385 42,84,200
SUB-TOTAL 6,48,436 21,545 5,47,257 27,634 36,585 8,156 58,51,759 5,17,742 76,59,114
Contribution from Shareholder's Account - - - 1,663 29,815 - - - 31,478
Other Income
(a) Miscellaneous income 3,781 6 1,093 6 116 3 10,839 29 15,873
(b) Profit/(Loss) on sale/disposal of fixed assets (Net) 41 0 82 1 16 0 54 2 196
SUB-TOTAL 3,822 6 1,175 7 132 3 10,893 31 16,069
TOTAL(A) 23,14,920 28,592 36,43,582 64,304 7,22,169 22,473 80,15,179 5,81,122 1,53,92,341
Commission L-5 1,91,103 225 1,43,522 - - 166 33,061 697 3,68,774
Operating Expenses related to Insurance business L-6 8,90,766 5,081 7,76,789 1,150 21,543 1,459 2,83,677 2,548 19,83,013
Service Tax Expenditure - - - - - - 79,090 5,541 84,631
Provision for doubtful debts - - - - - - - - -
Bad debts written off - - - - - - - - -
Provision for Tax (1,553) - 48,001 (340) - - (3,673) - 42,435
Provisions (other than taxation)
(a) Diminution in the value of investments(Net) - - (8,703) - - - - - (8,703)
(b) For standard loan assets (314) - (210) - - - - - (524)
TOTAL(B) 10,80,002 5,307 9,59,399 810 21,543 1,625 3,92,155 8,786 24,69,626
Benefits paid (net) L-7 4,89,622 20,890 12,50,341 80,521 1,16,535 4,422 31,37,966 4,80,945 55,81,242
Interim & Terminal Bonuses paid 26,963 1,248 - - - - - - 28,211
Change in valuation of Liability in respect of Life policies
(a) Gross ** 7,11,802 (8,028) 12,03,053 (17,027) 5,84,091 15,421 43,155 7,525 25,39,992
(b) Amount ceded in reinsurance - - (17,045) - - - - - (17,045)
(c) Amount accepted in reinsurance - - - - - - - - -
Provision for linked liabilities - - - - - - 42,30,494 45,493 42,75,987
TOTAL( C) 12,28,387 14,110 24,36,349 63,494 7,00,626 19,843 74,11,615 5,33,963 1,24,08,387
SURPLUS/(DEFICIT) (D)=(A)-(B)-(C) 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328
APPROPRIATIONS
Transfer to Shareholders’Account - - - - - - - - -
Transfer to Other Reserve - - - - - - - - -
Transfer to Funds for Future Appropriation - - - - - - - - -
Surplus after Appropriation 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328
TOTAL (D) 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328
SURPLUS/(DEFICIT) BROUGHT FORWARD 14,23,254 1,55,732 - - - - - - 15,78,986
Surplus after Appropriation 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328
SURPLUS/(DEFICIT) CARRIED FORWARD TO BALANCE SHEET 14,29,785 1,64,908 2,47,834 - - 1,005 2,11,409 38,373 20,93,314
(a) Interim & Terminal Bonuses Paid 26,962 1,248 - - - - - - 28,211
(b) Allocation of Bonus to Policyholders - - - - - - - - -
(c) Surplus/ (Deficit) shown in the Revenue Account 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328
Total Surplus: [(a) + (b) + (c)] 33,494 10,423 2,47,834 - - 1,005 2,11,409 38,373 5,42,539
The Schedules are an integral part of this Revenue Account.
* represents the deemed realised gain as per norms specified by the Authority.
** represents Mathematical Reserves after allocation of bonus.
Page 3 of 60
FORM L-1-A-RA
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED
Registration No: 107; Date of Registration: January 10, 2001
SEGMENT-WISE REVENUE ACCOUNT UPTO THE QUARTER ENDED JUN 30, 2016 (Audited)
Policyholders' Account (Technical Account)
(Amounts in thousands of Indian Rupees)
Particulars Schedule Life Pension Life Non -Life Non- Pension Non- General Unit Linked Unit Linked Total
Participating Participating Participating Participating Participating Annuity Pension
Variable(VIP) Variable(VIP)
Premiums earned - net
(a) Premium Income L-4 16,65,553 7,058 32,85,056 35,000 6,55,637 14,314 21,59,775 61,362 78,83,755
(b) Reinsurance Ceded (2,891) (16) ( 1,89,906) - - - (7,248) 1,986 ( 1,98,075)
(c) Reinsurance accepted - - - - - - - - -
SUB-TOTAL 16,62,662 7,042 30,95,150 35,000 6,55,637 14,314 21,52,528 63,348 76,85,680
Income from Investments
(a) Interest, Dividends and Rent Gross 5,12,542 18,508 4,89,834 22,500 33,395 8,093 10,62,100 1,12,083 22,59,055
(b) Profit on sale/redemption of investments 1,50,272 3,728 77,249 5,134 3,520 63 13,91,328 1,61,514 17,92,808
(c)Loss on sale/redemption of investments (14,378) (692) (19,826) - (330) - ( 5,91,484) (50,239) ( 6,76,949)
(d) Transfer/ Gain on revaluation/change in fair value* - - - - - - 39,89,815 2,94,385 42,84,200
SUB-TOTAL 6,48,436 21,545 5,47,257 27,634 36,585 8,156 58,51,759 5,17,742 76,59,114
Contribution from Shareholder's Account - - - 1,663 29,815 - - - 31,478
Other Income
(a) Miscellaneous income 3,781 6 1,093 6 116 3 10,839 29 15,873
(b) Profit/(Loss) on sale/disposal of fixed assets (Net) 41 0 82 1 16 0 54 2 196
SUB-TOTAL 3,822 6 1,175 7 132 3 10,893 31 16,069
TOTAL(A) 23,14,920 28,592 36,43,582 64,304 7,22,169 22,473 80,15,179 5,81,122 1,53,92,341
Commission L-5 1,91,103 225 1,43,522 - - 166 33,061 697 3,68,774
Operating Expenses related to Insurance business L-6 8,90,766 5,081 7,76,789 1,150 21,543 1,459 2,83,677 2,548 19,83,013
Service Tax Expenditure - - - - - - 79,090 5,541 84,631
Provision for doubtful debts - - - - - - - - -
Bad debts written off - - - - - - - - -
Provision for Tax (1,553) - 48,001 (340) - - (3,673) - 42,435
Provisions (other than taxation)
(a) Diminution in the value of investments(Net) - - (8,703) - - - - - (8,703)
(b) For standard loan assets (314) - (210) - - - - - (524)
TOTAL(B) 10,80,002 5,307 9,59,399 810 21,543 1,625 3,92,155 8,786 24,69,626
Benefits paid (net) L-7 4,89,622 20,890 12,50,341 80,521 1,16,535 4,422 31,37,966 4,80,945 55,81,242
Interim & Terminal Bonuses paid 26,963 1,248 - - - - - - 28,211
Change in valuation of Liability in respect of Life policies
(a) Gross ** 7,11,802 (8,028) 12,03,053 (17,027) 5,84,091 15,421 43,155 7,525 25,39,992
(b) Amount ceded in reinsurance - - (17,045) - - - - - (17,045)
(c) Amount accepted in reinsurance - - - - - - - - -
Provision for linked liabilities - - - - - - 42,30,494 45,493 42,75,987
TOTAL( C) 12,28,387 14,110 24,36,349 63,494 7,00,626 19,843 74,11,615 5,33,963 1,24,08,387
SURPLUS/(DEFICIT) (D)=(A)-(B)-(C) 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328
APPROPRIATIONS
Transfer to Shareholders’Account - - - - - - - - -
Transfer to Other Reserve - - - - - - - - -
Transfer to Funds for Future Appropriation - - - - - - - - -
Surplus after Appropriation 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328
TOTAL (D) 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328
SURPLUS/(DEFICIT) BROUGHT FORWARD 14,23,254 1,55,732 - - - - - - 15,78,986
Surplus after Appropriation 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328
SURPLUS/(DEFICIT) CARRIED FORWARD TO BALANCE SHEET 14,29,785 1,64,908 2,47,834 - - 1,005 2,11,409 38,373 20,93,314
(a) Interim & Terminal Bonuses Paid 26,962 1,248 - - - - - - 28,211
(b) Allocation of Bonus to Policyholders - - - - - - - - -
(c) Surplus/ (Deficit) shown in the Revenue Account 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328
Total Surplus: [(a) + (b) + (c)] 33,494 10,423 2,47,834 - - 1,005 2,11,409 38,373 5,42,539
The Schedules are an integral part of this Revenue Account.
* represents the deemed realised gain as per norms specified by the Authority.
** represents Mathematical Reserves after allocation of bonus.
Page 4 of 60
FORM L-2-A-PL
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED
Registration No: 107; Date of registration: January 10, 2001
PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED JUNE 30, 2017
Shareholders’ Account (Non-technical Account)
(Amounts in thousands of Indian Rupees)
For the quarter Upto the quarter For the quarter Upto the quarter
ended on 30th June ended on 30th June ended on 30th ended on 30th June
Particulars Schedule
2017 2017 June 2016 2016
(Audited) (Audited) (Audited) (Audited)
Amounts transferred from Policyholders’ Account (Technical Account) - - - -
Income from Investments
(a) Interest, Dividends and Rent Gross- Net of amortisation 3,51,654 3,51,654 2,96,399 2,96,399
(b) Profit on sale/ redemption of investments 3,167 3 ,167 23,960 23,960
(c) (Loss on sale/ redemption of investments) (0) (0) (18,826) (18,826)
3,54,821 3,54,821 3,01,533 3,01,533
Other Income - - - -
TOTAL (A) 3,54,821 3,54,821 3,01,533 3,01,533
Expenses other than those directly related to the insurance business L-6A 3,941 3 ,941 4,596 4,596
Bad debts written off - - - -
Provisions (other than taxation)
(a) For diminution in the value of investments (Net) - - - -
(b) Provision for doubtful debts - - - -
(c) Others - - - -
-Corporate Social Responsibilitty Expenditure - - - -
-Contribution to the Policyholders Fund 16,608 1 6,608 31,478 31,478
TOTAL (B) 20,549 2 0,549 36,074 36,074
Profit before tax 3,34,272 3,34,272 2,65,459 2,65,459
Provision for taxation
- Current Year 55,297 5 5,297 50,393 50,393
- Deferred tax charge / (credit) - - - -
Profit after tax 2,78,975 2,78,975 2,15,066 2,15,066
Appropriations
(a) Balance at the beginning of the year 1,26,23,899 1,26,23,899 95,91,170 95,91,170
(b) Interim dividends paid during the year - - - -
(c) Proposed final dividend - - - -
(d) Tax on dividend distributed - - - -
(e) Transfer to reserves/ other accounts - - - -
Profit/(Loss) carried to the Balance Sheet 1,29,02,874 1,29,02,874 98,06,236 98,06,236
The Schedules are an integral part of this Profit and Loss Account.
Earnings Per Share (Basic and Diluted) (`) 0.55 0.55 0.42 0.42
Nominal value per share (`) 10.00 10.00 10.00 10.00
Page 5 of 60
FORM L-3-A-BS
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED
Registration No: 107; Date of registration: January 10, 2001
BALANCE SHEET AS AT JUNE 30, 2017
(Amounts in thousands of Indian Rupees)
As at As at
Particulars Schedule June 30, 2017 June 30, 2016
(Audited) (Audited)
SOURCES OF FUNDS
Shareholders’ Funds:
Share Capital L-8 & L-9 51,02,902 51,02,902
Reserves and Surplus L-10 1,34,23,237 1,03,26,599
Credit/[Debit] Fair Value Change Account - -
Sub-Total 1,85,26,139 1,54,29,501
Borrowings L-11 - -
Policyholders’ Funds:
Credit/[Debit] Fair Value Change Account 19,88,216 9,05,040
Revaluation Reserve - Investment Property 2,03,345 2,03,345
Policy Liabilities
- Life Participating 3,04,98,013 2,44,51,062
- Pension Participating 6,99,013 6,91,110
- Life Non- Participating 3,64,39,719 2,49,35,160
- Life Non- Participating Variable(VIP) 8,19,161 11,85,950
- Pension Non-Participating Variable (VIP) 20,46,060 21,32,949
- General Annuity 6,27,636 3,13,590
- Unit Linked 18,34,655 17,78,746
- Unit Linked Pension 2,08,766 7,31,73,023 1,85,936 5,56,74,503
Insurance Reserves
- Life Participating 15,90,289 14,23,254
- Pension Participating 1,97,501 17,87,790 1,55,732 15,78,986
Provision for Linked Liabilities
- Linked Liabilities 10,13,93,467 8,88,06,423
- Fair Value Change 1,52,86,866 11,66,80,333 1,00,93,463 9,88,99,886
Funds for Discontinued policies
- Discontinued on account of non-payment of premium 17,33,666 19,26,171
- Others - -
Sub-Total 19,55,66,373 15,91,87,931
Funds for Future Appropriation:-Linked Liabilities - - -
Surplus in Revenue Account 8,05,192 5,14,328
Total 21,48,97,704 17,51,31,760
APPLICATION OF FUNDS
Investments
– Shareholders’ L-12 1,86,02,303 1,53,52,092
– Policyholders’ L-13 7,84,77,066 5,95,04,218
Assets Held to Cover Linked Liabilities L-14 11,84,13,999 10,08,26,057
Loans L-15 14,51,746 13,64,307
Fixed Assets L-16 6,07,587 4,41,958
Current Assets
Cash and Bank Balances L-17 10,11,116 4,85,653
Advances and Other Assets L-18 38,89,077 29,12,514
Sub-Total (A) 49,00,193 33,98,167
Current Liabilities L-19 71,66,897 54,33,924
Provisions L-20 3,88,293 3,21,115
Sub-Total (B) 75,55,190 57,55,039
Net Current Assets (C) = (A-B) (26,54,997) (23,56,872)
Miscellaneous Expenditure (To the extent not written off or adjusted) L-21 - -
Debit Balance in Profit and Loss Account (Shareholders’ Account) - -
21,48,97,704 17,51,31,760
The Schedules are an integral part of this Balance Sheet.
Prior quarter's figures have been regrouped / reclassified wherever necessary
CONTINGENT LIABILITIES
As at As at
Particulars June 30, 2017 June 30, 2016
(Audited) (Audited)
1. Partly paid-up investments 1,79,740 7,500
2. Underwriting commitments outstanding (in respect of shares and securities) - -
3. Claims, other than against policies, not acknowledged as debts by the company 2,845 2,000
4. Guarantees given by or on behalf of the Company 1,491 1,491
5. Statutory demands/ liabilities in dispute, not provided for (Service Tax) 28,71,999 27,20,573
6. Reinsurance obligation to the extent not provided for in accounts - -
7. Others – Insurance claims in appeal net of provision
(Grossvalueofclaims`390,197,outofwhichreinsured`78,086 and
96,485 1,03,596
provision held ` 215,626 )
Total 31,52,560 28,35,160
Page 6 of 60
FORM L-4-PREMIUM SCHEDULE
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED
Registration No: 107; Date of Registration: January 10, 2001
SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS
(Amounts in thousands of Indian Rupees)
Upto the quarter Upto the quarter
For the quarter ended For the quarter ended
ended on 30th June ended on 30th June
Particulars on 30th June 2017 on 30th June 2016
2017 2016
(Audited) (Audited)
(Audited) (Audited)
First year Premium 26,37,826 26,37,826 30,10,769 30,10,769
Renewal Premium 48,98,763 48,98,763 31,14,774 31,14,774
Single Premium 21,83,951 21,83,951 17,58,212 17,58,212
Total Premium 97,20,540 97,20,540 78,83,755 7 8,83,755
Notes:
(a) All the premium income relates to business in India
Page 7 of 60
FORM L-5 - COMMISSION SCHEDULE
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED
Registration No: 107; Date of Registration: January 10, 2001
SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS
(Amounts in thousands of Indian Rupees)
For the quarter Upto the quarter For the quarter Upto the quarter
ended on 30th June ended on 30th June ended on 30th June ended on 30th June
Particulars
2017 2017 2016 2016
(Audited) (Audited) (Audited) (Audited)
Commission Paid
First year Premium 3,03,969 3,03,969 2 ,77,327 2,77,327
Renewal Premium 1,07,880 1,07,880 8 4,067 84,067
Single Premium 11,603 11,603 7 ,380 7,380
Sub-total 4,23,452 4,23,452 3 ,68,774 3 ,68,774
Add: Commission on Re-insurance accepted - - - -
Less: Commission on Re-insurance ceded - - - -
Net Commission 4 ,23,452 4 ,23,452 3 ,68,774 3 ,68,774
Breakup of Gross Commission
For the quarter Upto the quarter For the quarter Upto the quarter
ended on 30th June ended on 30th June ended on 30th June ended on 30th June
Particulars
2017 2017 2016 2016
(Audited) (Audited) (Audited) (Audited)
Agents 2,58,341 2 ,58,341 2 ,18,750 2 ,18,750
Brokers 32,024 3 2,024 2 4,706 2 4,706
Corporate Agents 1,33,087 1 ,33,087 1 ,25,318 1 ,25,318
Referral - - - -
Total 4 ,23,452 4 ,23,452 3 ,68,774 3 ,68,774
Note :
Page 8 of 60
FORM L-6-OPERATING EXPENSES SCHEDULE
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED
Registration No: 107; Date of Registration: January 10, 2001
SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS
Operating Expenses Related to Insurance Business
(Amounts in thousands of Indian Rupees)
For the quarter Upto the quarter For the quarter Upto the quarter
ended on 30th June ended on 30th June ended on 30th June ended on 30th June
Particulars
2017 2017 2016 2016
(Audited) (Audited) (Audited) (Audited)
Employees’ remuneration and welfare benefits 12,98,063 12,98,063 11,55,387 11,55,387
Travel, conveyance and vehicle running expenses 46,605 46,605 50,553 50,553
Training expenses 10,806 10,806 17,178 17,178
Rent, Rates and Taxes 1,20,483 1,20,483 1,16,155 1,16,155
Repairs 60,435 60,435 35,202 35,202
Printing and Stationery 21,348 21,348 21,268 21,268
Communication expenses 30,849 30,849 30,709 30,709
Legal and Professional charges 39,855 39,855 36,855 36,855
Medical fees 10,804 10,804 5,206 5,206
Auditors’ fees, expenses etc.
(a) as auditor 1,717 1,717 1,298 1,298
(b) as adviser or in any other capacity , in respect of
- Taxation matters - - - -
- Insurance Matters - - - -
- Management services; and - - - -
(c) in any other capacity (including out of pocket expenses) 34 34 130 130
Advertisement and publicity 1,81,169 1,81,169 76,600 76,600
Interest and Bank charges 7,536 7,536 3,941 3,941
Sales Promotion and Distribution expenses 1,66,839 1,66,839 1,77,045 1,77,045
Depreciation 70,758 70,758 54,776 54,776
Information Technology expenses 53,340 53,340 55,367 55,367
Electricity charges 22,015 22,015 26,570 26,570
Recruitment expenses 12,265 12,265 13,123 13,123
Stamp Duty 77,314 77,314 47,297 47,297
Membership and Subscription Fees 2,894 2,894 4,777 4,777
Service Tax Expenses 8,837 8,837 8,729 8,729
General administration and other expenses 87,618 87,618 44,847 44,847
Total 23,31,584 23,31,584 19,83,013 19,83,013
Notes:
a) Refer Schedule 16 - Note 2 (k) and Note 24
FORM L-6A-EXPENSES OTHER THAN THOSE DIRECTLY RELATED TO INSURANCE BUSINESS
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED
Registration No: 107; Date of Registration: January 10, 2001
SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS
Expenses other than those directly related to Insurance Business
(Amounts in thousands of Indian Rupees)
b) Refer Schedule 16 -Note 2(h) , Note 6 & Note 22.
For the quarter Upto the quarter For the quarter Upto the quarter
ended on 30th June ended on 30th June ended on 30th June ended on 30th June
Particulars
2017 2017 2016 2016
(Audited) (Audited) (Audited) (Audited)
Employees’ remuneration and welfare benefits 1,587 1,587 1,751 1,751
Travel, conveyance and vehicle running expenses 6 6 9 9
Rent, Rates and Taxes 263 263 257 257
Printing and Stationery 3 3 3 3
Communication expenses 5 5 3 3
Legal and Professional charges 141 141 153 153
Interest and Bank charges 125 125 88 88
Depreciation 103 103 65 65
Others 1,708 1,708 2,267 2,267
Total 3,941 3,941 4,596 4,596
Page 9 of 60
FORM L-7-BENEFITS PAID SCHEDULE
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED
Registration No: 107; Date of Registration: January 10, 2001
SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS
(Amounts in thousands of Indian Rupees)
Upto the quarter Upto the quarter
For the quarter ended For the quarter ended
ended on 30th June ended on 30th June
Particulars on 30th June 2017 on 30th June 2016
2017 2016
(Audited) (Audited)
(Audited) (Audited)
1. Insurance Claims
(a) Claims by Death 12,55,699 12,55,699 9,99,830 9,99,830
(b) Claims by Maturity 9,69,065 9,69,065 11,61,559 11,61,559
(c) Annuities/ Pension payment 6,655 6,655 4,390 4,390
(d) Other Benefits
― Survival Benefits 74,165 74,165 1,25,494 1,25,494
― Surrenders 38,91,462 38,91,462 32,56,105 32,56,105
― Discontinuance payments 1,51,843 1,51,843 92,731 92,731
― Riders 1,026 1,026 1,053 1,053
― Claim Investigation Fees 1,280 1,280 1,799 1,799
― Others- Refer note (b) 14,781 14,781 5,049 5,049
Sub Total (A) 63,65,976 63,65,976 56,48,010 56,48,010
2. Amount ceded in reinsurance
(a) Claims by Death (1,22,823) (1,22,823) (66,611) (66,611)
(b) Claims by Maturity - - - -
(c) Annuities/ Pension payment - - - -
(d) Other Benefits
― Survival Benefits - - - -
― Surrenders - - - -
― Discontinuance payments - - - -
― Riders - - (157) (157)
― Others - - - -
Sub Total (B) (1,22,823) (1,22,823) (66,768) (66,768)
3. Amount accepted in reinsurance
(a) Claims by Death - - - -
(b) Claims by Maturity - - - -
(c) Annuities/ Pension payment - - - -
(d) Other Benefits
― Survival Benefits - - - -
― Surrenders - - - -
― Discontinuance payments -
― Riders - - - -
― Others - - - -
Sub Total (C) - - - -
Total (A)+(B)+(C) 62,43,153 62,43,153 55,81,242 55,81,242
Notes :
(a) All the claims are paid in India.
(b) Includes provision for policy related claims.
(d) Refer Schedule 16 - Note 30 for regrouping of previous year figures.
Page 10 of 60