IRDA (Actuarial Report and Abstract) Regulations, 2000

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26 THE GAZETTE OF INDIA : EXTRAORDINARY INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY NOTIFICATION New Delhi, the 14th July. 2000 l,P ART Ill-SEC. 4] Insurance Regulatory and Development Authority (Actuarial Report and Abstract) Regulations, 2000 F. No. IRDA/Reg./7/2000.- c-/n l.!:rercise oj rht• pnwe1:1 rnnferrerl hr clm,_1(' (.~) <?f.1ub-sec1io11 (2) of sec/ion I 14A of the Insurance Act, I 938, (4 of /9.1~). tlte Authority. in c·1111rnlrt1tum w11h tlw /11.rnrance Adv,sory Committee, hereby makes the following regulmum.1. 11m11ely·- 1. Short title and cum111encement.-( f) These regulations may be caJled the Insurance Regulatory and Development Authority (Actuarial Rcpon and Abstract) Regulalions, 2000. (2) They shall come into force from the date ofthc1r publication in the Official Gazette. 2. Definitions --In these regulations. unless the context otherwise requires -- (a) "Act'' means the Insurance Act.. 19}8(4 of 1938); (b) .. Authority" means the Insurance Regulatory and Development Authority established under sub-section (J) of section 3 of the Insurance Regulatory and Development Authority Act, 1999 ( 41 of 1999); (c) "extra premium' means a charge for any risk not provided for in the rrurumum contract prenuum: (d) "group business" means those insurance contracts which are group policies as mentioned under sub-section (2) of section 4 of the Act, (e) "guarantees" means the renns m regard to benefits or premiums or charges, which may not be altered during the currency of the pol icy: " (0 "individual business" means ind1v1dua.l msurance contracts issued on single/joint lives; (g) "mtcr valuai1on period" means. as respects any valua11on, the period to the valuation date of that valuation from the valua11011 date of the preceding valuation in connection with which an abstract was prepared under the Act or under the enactments repealed by the Act, or, in a case where no such valuation has been made in respect of the class of bus mess m question. from the date on which the insurer began to carry on that class of business: (h) "maruriry date" means a fixed date on wluch benefit may become payable either absolutely or connngcntly; (i) "non-par policies" or "policies without participation m profits" means poUcies which are not entitled for any share in surplus (profits) during the term of the policy: (j) "office yearly premium" means regular premium (excluding extra premiums which are required to be shown si:parately) payable by the policyholder to secure t11e basic benefits under the policy in a policy year ; (k) "options" means the nghts available to a policyholder under a policy; (I) "par policies" or "polrc1es with part1c1pation m profits" means pohces which are not non-par policies as defined umler clause ( i): (m) "policies with deterred part1c1pa11on in profits" means polices entttled for part1cipahon m profits after a certam penod from the date of commencement of the pohcy, (n) "premmm term" means the penod dunng. winch prerruums are payable; ( o) "nders" or "rider benefits" means add-on benefits. which are in addition to basic benefits under a pohcy; (p) "valuation date" means as respects any valuauon the date as at which the vaJuation 1s made: (q) All words and expressions used herein and not defmed but defined in the Insurance Act, 1938 (4 of 1938), or m the Insurance Regulato1y and Development Authonty Act, 1999 (41 of 1999), or in any Rules or Regulauons mad" thereunder shaJI have the meanings respectively assigned to them in those Acts or Rules or Regulations. 3. Procedure lor Preparation of Actuarial Report and Abstract. - (1) The Abstract and Statements must be so arranged that the number and leners of the paragraphs correspond with Regulation 4. (2) The Abstracts and Statements shall be furnished to the Authority, within nme months from the end of the period to which they refer to, m accordance with sub-section (I) of section 15 of the Act. (3) Fout copies of the Abstracts and Statements shall be furnished to the Authonty in accordance with sub-section (I) of section 15 of 11,e Act. and one of the four copies so furrusbed sp.all be signed by the persons as menuoned m sub-section (2) section 15 of rhe Act. (4) There shall he appended to every such Abstract and Statement- 'mltcfiT"{T31"q".(:~ 27 (a) a certificate signed by the pnnc1pal officer that full and accurate particulars of every policy under which there is a liability. either actual 01 contingent. has been furnished to the appointed actuary for the investigation: and (b) a certificate signed by the appomtcd actuary wirh his remarks, 1f any. to the effect that:- i) the data .fomishcd by the principal officer has been included in conducting the valuation of liabtlities for the purpo~e of anvesuga11011: 11) reasonable steps have heeo taken to ensure the accuracy and completeness of the data: iii) he has complied with provisions of the Act. 1v I he has complied \\ 11h guidance notes issued by the Actuarial Society of India with the concurrence of the Aurhorny, v) 111 lus up1111on. the malhemaucal reserves are adequate to meet the msurer's future corrumtments under the contracts. and the policyholders' reasonable expectations. 4. ~equiremcnts Applicable lo ,\bslract and Statements.-{ I) Abstracts and statements .shall be prepared separardy an re~pccr of--- (n) Linked Ousmess: (bl :--:un-Lmked Business; and (c) Ht•alth Insurance Busmess. (2) An mswe shall prepare rhe followmg statements which shall be annexed to the abstract prepared in accordance with these regulauons, namely:- (a) m respect of Lmked Busmessr (1) Form LD-1; (i1) Form LB-2: (111) Form LB-3: (iv) Form LB-4: (v) Form IA: (b) in respect of Non-Lmked Business.- ti) FormNLD-1 : (11) form NLU-2: (111) Form DD: (1vJ Fom1 DOD, 1v1 hum DD[)[), (\!I hum IA: (c) m respect ofllcahh Insurance Busmess.- (1) F111m LD-1: (1il Fn11n LD-2: (1i1).Forrn LD-3: ~ (I\' ) Form NLU-1: (v) l·orm IA. (d) Summary statcmcnts,-- ( 1) 1:mm K: ( 1i) Fnrm lRDt\-AA as specified under Regulation 4 of Insurance Regulatory and Development Authority (Assets. Liabilities. and Solvency Margin of Insurers) Regulations. 2000; (111) Form II: ( f\' ) Form I: (v) Statement ot Composition and Distribution of surplus in respect of policyholders' fund as :..pccificd under Rcgulauon 8: (3) Each Abstr.1ct shall show--- (a) ·n1e Valuation Oate.--'lhc date on wluch valuationJinvesllgation) is done; (b) New Products -A hr 1ct' ,lcscnptmn of nc" products mtroduced during the inter-valuatton period giving salient fcutmes: (c) Foreign Operation~- A h1 ,er dcscnpuon ot rhe foreign operations of the insurer. durmg the mter-valuation period: (d) Valuation Method.- A hnd desc11ption of'---- ( 1) the methods adopted III the detem1111a11on of mathematical reserves in respect of insurance products: 28 THE GAZETTE OF INDIA : EXTRAORDINARY [PART ill-SBC. 4] (11) the method by which age at entry. premium term, maturity date, valuation age, period from the valuation date to the matunty daie. have been treated for the purpose of valuation; (iii) the method of allow1Dg for- ( I) 111c1dence of premium income: and ( 11) premiums payable otherwise than annually; (e) Valuation bases.- ( 1) Valu:mon parameters used ID the valuation shall be furnished in the manner as specified in the table hereunder:- f)cscnpuon Mnrtalil) Mnrh1d11y lntlouun lr11eres1 Expenses Future Olhers Remarks ha,1s hasi, u,cd nnc Rate bonuses, please 11..:d 1fany specify (I) (2) (>} (4) (5) (6) (7) (8) (9) (a) ln,urancc l'roduc1: 1) Regular l'rcm1um 11) Smglc prc1mum uml hilly paid u11 111 I RccJuccd l'a11I up (h) lm,ur•nn• l'roduc1: 1) Regular l'rcm111m 11) ~mglc premium and l·ully pall! up 1111 Reduced l'a,ct up (ii) Expenses related 10 premiums, sum assured, annuity, etc., and per policy shall be specified separately under Column ( 5 of the table: (iii) Items such as tcrmmal bonus. m case ofw1lh profit contracts, management charges, etc., m respect of linked busmess, shall be specified under Column (8) of the table; (I) Other Adjustments (Pro\isions).- fhc methods by which provision, if any, has been made for the following maners. includmg a statemen1 \lfbases wherever necessary,- ( i) Policies m respect of wlm:h extra premiums have been charged on account of underwriting ofunder- (ii) (iii) ( iiii) (i1v) averagc ll\e~ that arc s11b.1ec1 to extra nsks such as occupation hazard, over-weight, under-weight, smokmg history, health. chmauc or geographical conditions: L npsed pohncs not mcluded 111 the valuation but under which a liability eltists or may arise; Op11ons arn1lable umfrr 1Dd1V1dual and group msurance policies; Guarantees available to md1v1dual and group insurance policies; The rates of exchange at which benefilS ID respect of policies issued in foreign currencies have been converted 11110 Indian Rupees and what provision has been made for possible increase of mathematical reserves ar1s111g lrom furure vanat1ons ID rates of exchange; (g) Further lnformation.-The followmg mformauon shall be appended:- (i) Returns on Assccs as spec1f1ed under Regulation 5; ( 11) 01str1bu11on of smplus as specified under Regulation 6; ( iii) Pnnc1ples adopted 111 d1stnbuuon of surplus as specified under Regulation 7; (1v) Neg:iuvc Reserves and Guaranteed Surrender Value Deficiency Reserves as specified under Regulauon 9: (v) M1scellaneous. 1fany. S. Returns on assets.-- ( I l The average gross rates of mterest yielded by the assets may be determined expressing the mvestment 1Dcome as percentage of 1he mean fund. [, = 2 x I / (A + B - l); where i is the gross yield; I = Invesbnent Income: A = 1he assets nt the begmnmg of the financial year, and B= the assets at the end of the financial year; lnves1ment Income (shown in the Ri:venue Account) should include the amount of the unrealised gain taken into revenue account. /\ and U have to he ad.1usted value of assets shown in the Balance Sheet.]. (2) TI1e average gross rates of mten:st. relerred to under sub-regulation ( 1), shall be furnished for each fund maintained by an msurer. 29 6. Oistribuuon of surplus. - 1 he basis adopted in the d1Smounon ot swplus as between the shareholders and the policyholders. and whether such d1stnbutton was detemuned by the instruments constituting the company, or by its regulauons or by-laws or how other.vise shall be mentioned. 7. Principles adopted in distribution of profits.- The general principles adopted in distribution of profits among policyholders, mcludmg statcmenL~ on following points. shall be fumIShed:- (1) Whether the principles \\crc dc1crm1ncd b\ mstn1mcn1s eonst11utmg the insurer, or by its regulations or by-laws or how otherwise. (it) fhc numhcr ol \C.i" p1cn1111m io hi: paid pcnod 10 elapse and other conditions to be fullillcd before a bonus ,s alloued: ( 111) Whc1her 1he bonus ,~ .illoca1cd 111 rcspcc1 of each yc:ir's premium paid. or in respect of each calendar year or year of .i~~u1;111cc or huw l>!hcm isi:. ,111d It\ I Whether the bonus ~cMs 1mmcd1a1cly on allocal!on. or. 1f not, cond1t10ns of vesting. 8. Statement of compo\ition of 'iurplus and distribution of surplus in respect of policyholders' funds.-{ 1) A stateme111. show111g total t1111011nt ol surplus arising dunng the rnter-vaJuation period, and the allocauon of such surplus. ~hall be lurmshed scpa1a1clv for pan1c1pating business and for non-participating business, wnh the particulars as menuontd belO\\ - C'ompos1uon of Surplus: (a) Surplus shm, 11 under Fonn I: (h) Interim Uonuscs patd during u1e mter-vaJuation penod:; (cl l'crn1111~I Bonuses paid du1 mg the 1nter-valuatlon penod: (dl Loyalty Addt11011s or 1>1hcr forn1s of bonuses. tf any, paid during the inter-valuation penod~ It') Sum 1rnnstcncd lrom !.han:holders· funds dunng the inter-valuation period:; (I) Amount of surplus. hum pohcybokkrs' funds. brought forward from precedmg valuation: (g) Total Surplus (total of the items (a) to ( I)): Distr1buuon of Surplus~ Policyholders' Fund: (a) To lnterim Bonuses paid: (b) To Terminal Oonuses (c) To Loyally Add1l1ons or any other forms of bonuses, if any; (d) Among policyholders with muned1ate paruc1pauon giving the number of polices wb1ch participated and the sums assured therellflder (excluding bonuses): (e) Among poJ1cyholders w1th deferred parhctpatton. g1vmg the number of polices which part1.c1pated and the sums asS1.1red thereunder (excluding bonuses); (0 Among policyholders m the discounted bonus class givmg the number of polices which participated and the sums assured thereunder (excluding bonuses): (g) To every reserve fund or other fund or accowlt (any such sums passed through the accounts during the inter valuation penod to be separately stated); (h) As earned forward un-appropnated. Shareholders' Fund: (i) To the shareholders' funds(any such sums passed through the accounts during the inter valuation penod to be separately stated); Totals (J) Total Surplus allocated: (total of the items (a) to (1)) (2) Specunen of Bonuses allotted to policies for ooe thousand rupees together with the amoun.ts apporooned under the various manners m which the bonus IS receivable, for each type of part1cipatmg product, shall be furnished. 9. Negative Reserves and Guaranteed Surrender Value Deficiency Reserves.- A brief description of treatment adopted for negative reserves and guaranteed surrender value deficiency reserves shall be fum1shed. I 0. Notes applicable to all Forms.--( I) Each Form mentioned under sub-regulation (2) of Regulation 4 shall have the following descriptton:- C-lass11icu11on: ( Jlcgory; D1v1s1on. Sub-Class: and Group. 30 THE GAZETTE OF INDIA : EXTRAORDINARY (PART III-Snc. 4] ==========:,,; (2) There shall be two Class1ficauons. namely, Business within India. and Total Business (consisttng of Business withm India and Business outside India). w11h Classification Codes I and 2 respectively. (3) There shall be three Ca1egories. namely. Linked Business. Kon-linked Business and Health Insurance Business. with Category Code~ I. 2 and 3 respectively. under each Classification; (4) There shall be two Divisions. namely. lnd1vidual Business and Group Business, with Division Codes I and 2 re_spectively under Ca1egory Codes I. 2 and 3: (.5) There shall be 1hree Sub-Classes. namely, Life Business, General Annuity, and Pension, with Sub-Class Codes 1.2 and 3 rcspecuvely. under Category Codes I and 2. and two Sub-Classes, namely, Linked Dusmess. Non- Lmked Dusmess, wuh Sub-Class Codes I. and 2 respecuvely, under Category Code l (6) There shall be four Groups under each Sub-Class. with Group Codes as specified under sub-regulation (7). (7) The details of Group Codes under each Category shall be as follows:- Group Code (a) Category Code 1 -Linked Business,-consisting of Insurance Products,-- (I) an respect of Division Code I • Individual Business. and under each Sub-Class Code •• (i) with guarantees -with panicipauon m profits: (11) with no guarantees- with paruc1pauon in profits (111) with guarantees -without par11cipauon m profits: (1v) with no guarantees- without part1C1pauon ID profits'. (2) in respect of Div1s1on Code 2 • Group Business, and under each Sub-Class Code - (I) w1lh guarantees -with part1c1pat1on m profits: (ii) with no guarantees- with pan1c1pat1on in profits: (iii) with guarantees -without paruc1pat1on 10 profits: (iv) with no guarantees- without participation in profits: (b) Category Code l -Non-Linked Business,- consisting of Insurance Products,- ( I) in respect of Div1s1on Code I • lndJVidual Business, •· (l) Sub-Class Code I • Sub-Class--L1fe Busmess,- (i) with part1c1pauon m profits.: (ii) with deferred participation in profits: (111) under discounted Bonus system: (1v) without pan1cipat1on m profits. (II) Sub-Class Codes 2, 3 • Sub-Class-General Annuity/Pension, as the case may be,- (i) Immediate Annwnes with participation in profits: (i1) Immediate Annwtles without part1c1patmn m profits: (iii) Deferred Annuilleli with participation in profits: (iv) Deferred AnnwtJes without paruc1pat1on m profits: (2) in respect of D1vis1on Code 2 - Group Business, - (I) Sub-Class Code I • Sub- Class- Life Business, wherc- ( 1) Premnuns are guaranteed for not more than one year:- (a) with participation m profits: (b) without parttc1pat1on m profits: (11) Prenuums are guaranteed for more than one ycar:- (a) w1lh part1C1pat1on m profits: (b) without participation ID profits: A; B, C; D; A. B; C; D; A; B· . C; D; A; B· . C; D· . A; B; C; D· . ' ) ~ 1'iT ~ : ~ I II) Suh-Class C'odcs 2. 1 - Suh-Class-General Annuity/Pension. as the case may be.- I I l lmmt'llia1c /\nnu111cs with pamc1pat1on in profits: ( 11) lmmcd1ah.: J\nnu111cs without parllc1pation in profits: f 111) Dd'ern:d A nm1111es \\ 1th part1c1pat1on m profits: Ii,) Dckrn:d J\nnu1ucs ,, nhout part1c1pat1on in profits: (c) (';1tc~ory Code J - I lcalrh Insurance Business.- consisting of Insurance Products. (I) 111 rcspccl of Div1~1on Code I - Individual llusmess- !ll Suh-C'l..1s~ lode I I uiked Uusmess:- ( 11 ,,·Hh guaran1ecs -\\ nh part1c1pa11on m profits: (iii w11h 110 !,'.ll.trantccs- with parlic1pat1on in profits: I 1i1 I 1, 1th }!UJ1.1ntccs _,, 11hout pa111c1pallon m profits: ( I\' I 11 1th no !!11.trantccs- "11hou1 par11c1pallon ID profits· 111 l Suh-< 'la~, C ·111k .2-N1111-I 111kcd Ousmcss: - l 1) "11h pa1111;1palion 111 prnlils: /11) w11h dcfl'rtcd par11c1pauon m prollrs. ( 111) under d1scou111ed Uonus system: ( 1,·1 1111hm11 p,11 t1c1p:11mn 111 profits: t 2) 111 rcsp..:ct of 1 >11· 1~1011 l "odc 2 < i1 oup Uusmess;---- ( I) Suh-l 'l,1ss < '11dc ., I .1nf..cd Bw,1m:ss: (1) "11h g11a1J11tccs -\\ 11h p,1111c1pa11on ID profits: (II) \\'ilh 1111 ,!II.II ,llllCCl>· \Vllh part1c1pat1on in profits: 1111) "11h µ11.11 anh:es -w11hout par11c1pation m profits: 11, 1 ,111h no gu.iramees- wnhout par11c1pat1011 m profits: t 11) Suh-( 'I.is, ( 0lldl' 4-Non-Lmked 13usmess - ( 111'11.'111111m~ Jrc !,!llarantced for 1101 more than one year:- 1.t) \\llh f!alllClpallon 111 profits: ( h) w11h11111 pa111t:1pa111rn 111 prnfns: ( 11) l'rc111111111s ,11 l' !!11.11.llllccd Im more than one year:- ( ,I) \\ ilh p;1111c1p,111011 Ill jll\lhts (h) ,, 11h,,u1 pa111c1pa1111n 111 prnl11s: (X) "l\d" <.;1,111:1111:nts ,hall h1: 1'111111\hl'd llu thost' 1-<mns where the insurer has no transactions. A-. [3; C; D: A; O; C; D; A· , B; C: D: A; B; C; D; A; B: C· . D; t'J) lntu1111a110111cl.11111g 10 111s11ram:c pwducts !>hall be given m Forms in the following order of insurance products, "hcrcw1 1l·41mcd;- \\ hole 1 1k 1\s,111a11ccs. I· nd,m llll"lll '\ ,,w ,lllt'l'S. ,\1111c1p,11cd I 11do\\111l'III l1la11~ t\loncy 11.ick Plans). l'llrl lml1mllll'llh. I )1111hk I nd1m llll'llls. I l'lln liNII am:c l 11111i.11.:1, . .iml < hhl'1s (,pt·c1i) 111!! t•,11:h) ( I 1111\II rtµ1111·, ,h.dl hl· lu1111,hcd 111 1imusa11ds and all amoums shall be furnished m Indian rupees. ( 11 J In ll''-fll'Cl 111 c 11011p 1111,rnl·ss. till' m1111hl'1 o( poltc1cs' 111 Fom1s. wherever applicable. shall be read as 'number I) I ,(.'. hl'llll'S. I 121R1dc1 lknl'f11, sh.ill hl· lllln1shcd 111 hmns. \\hcn:ver required. in tJ1e order of (a) Accident Covers -double, 111pk. ( h) I )1,.1hd11v ( ·owi.... Ill I hc;id Disease Covers. and (d) Others (specifying each). t J.1)01hc1 \d111,1111c111~. ~11.1!1 lll· ll11mshl·d III Fmms. wherever necessary. for instance, Provision for Deaths due to ,\II>:-. 31 lie m No ( l ) 0 I 02 03 32 THE GAZETTE OF INDIA : EXTRAORDINARY [PART ill-SEC. 4] FORM DD (See Regulation 4) Insurance Regulatory and Development Authority (Actuanal Report and Abstract) Regulations, 2000. CLASSIFIED STATEMENT OF LIFE INSURANCE P0LIOES FOR THE YEAR ENDED 31ST MARCH. 20_ ( Di1·ec1 Business plus reinsurance accepted, if any) Name of Insure..- Reg1srra11on Number: c.1assLficauon: Busmess Wi!hm India/ Total Ousiness Category· Non-Linked Bm,iness D1v1smn: Sub-Class: Group: Form Code: f ][ ][ I[ ][ )[ ][ ][ J[ ] Date of reg1strat1on: _____ _ Class1ficaoon Code;( ] Category Code: D1v1s1on Code: Sub-Class Code: Group Code: 12 l I l I I I I I New Hui.iness transacted during the year Total business in force at the end of the year Descnp11on '- '- "" ..... '- ... ? 0 0. e 0 0 0. ,_ .,, .:; -0:, .f' E ... II) ,_ -0 ~ -:, :! " ::i ., :: ., !:! ., ., "O "' 2 "% ..r. = ::i ·e .D .D 5 ., ::i ;:! ~ </', § ~ C: cil E E t, .: "' E ~ .;; g = ,.,.., "' 5 ~ = ., "' 2& C ::i- ~ > ::i "' "' 1:E: vi -1'. < c': Cl) p. z g z ;.: Cl)< < > al (2) (.1) (-I) (5) (6) (7) (8) (9) ( I 0) ( l I ) ( 12) ( 13) folJf lk:lurc l<.:,n~uran~c . (U) l<cgular l'rcmtum < unlr-J(ls: lhl Smglc l'rcm1111n < -,.ur-J~ts; (Cl Olht:r Rcm,urJncc cctk~I (al l{c,!ulur t•rcnuum C 11111rnc1s. (h) \111glc l'rc1mum < •~llrJcl>. (t;) Olhcr I 111al /\Iler l{c111,111ani:c lat Rq!Ular l'n:m111m < rnur.,~ts. !hi 'ilnl!lc l'rcnuum I ontr-Jcts; M Cllhcr 1'.otes to I orm OD- 1. /\ II ligures must be htt 111shed 111 thousands. 2. In respect of ( irnup B11~111css. number ol grnup schemes shall be furnished under the column· 'number of poltc1e~ : J, ·11rcm1um· 1clcrs to /\111111Jliscd l'rcmmm 4. ·smglc Prl!nHum uu:lmlcs cons1dc1at10n for 1mmcd1ate or deferred annuities and all other prenuums paid at the outsc1 \II the co111r:ic1s and no s11bscq11t.>nt p1e1mum 1s payable. 5. Col ( hem tc)- ··01hc1 ·· 1ndudes l1a1tl up anti Fully paid up contracts where no Premium 1s payable m future j 33 FORM DDD (.\,,,, Regu/111,011 4) Insurance Regulato1 v and Dcvd,lpment Authority ( Actuarial Report and Abstract) Rci;ulations, 2000. 1\l>DITIO'-iS IO /\NU IJEI.E rIONS FR0:'-1 POLICIES FOR THE YEAR El\DED JI'' March. 20 Rc_gt!>rration Number: Form Cod-,: [ II H JI II H ll II 11 I Date of regJSLration: -----~ I Class1t11.:a11on Uusmess \\'11h111 Inc.Ii.ii fotal Uusmess Classification CuJe:I I Category 1\011-LinkccJ llusi11c\S Category Code: r 2 l I D1,1s1un: Division CoJe· [ ] Sub-Class· Sub-Class Code: I J C 11m1p. G1oup Code: I I ___ ..'...._-============-----------___:_:..:....:._...:!:,_~----.!....... -------~ lt.-,11 I Number Sum 1\nn1111y R.:, n,i1w,11 )' \io Dcscnptmn of Assuri:d pa honus I polrcies add11m11s ( I I I (2) (3) (4) (5) - ((1) I 01 l'olioes ar rhc l->egrn11111µ ol'the yea, ~ 02 o; 0-1 05 0(1 07 o:-: ()l) 10 11 12 ~ 13 1-1 I:, I c, 17 - 18 AODJTIO;\'S cl11rft11! the )'<'ar: '\c\\ l'nhl 11:s 1ssui:d Old rulicii:s rernsratcd ·- Old l'n)ic;t\.'S re, 1wd ( lid pnhncs chanµl•d .111d 1111:-reased ·----'- I I B11n11~ add111mts al11111cd I I ·I I fotal (Sum ot IICllh tll hl ho) I DELETIO'\S durinl! the J 11;1r By tli:,lllt . I u) Slll"\"l\'.lllCC or the happemng or ((1111111!,!CllCtCS ' 111surcd agamsr 01hc1 than death I 1 By l'XptT) ort.:rm unckr 11:mporarv msurunc.: By i.111rc11dcr of poltt:Y By Mtrn:ndcr or'bonrn, I I IJy forfcttur,· or laps,· B:, tc\'lvnls ot~ild pohrcs I B} thanµl' :111,! tk,ll'.t'l' By hctn),! nut tah·n 11p Tot.ii di~t:ontmucd: t ,,;11111 ,,t 1k·ms OS 10 I hi Total exbtin~ ~II the end of thl' ~l':tr: ](07) I 17)] '\oh!\ to Fmm Dl>D• I \ II ligurl'S must oc furn ashed 111 lhous,mds: 2. lt1 1csp1•c1 ol' 1 i111up llu~11tes~. 1111111h,t ol g1011p ~-=hemes shalt be lt11111she<l ui11.l1?r lilc column: ·111m~h..:1 ol polictcs·: ,:\. \II .,111ou111s st:iwd slt:1II b,· IN,d grn~, am<HIIW \\ 11ho111 taking 111ro acnmnt ofre-insurn!Kl'S rcdcJ or at:ccplcd, y THE GAZETTE OF rNDIA EXTRAORDINARY FOR:\I DODD [PART m-Si;c. ➔J I \n lfr1sulmum -II Insurance l<.cg11lato1 \' .111d I k'\ l'l11p11w111 .\uthortt} I Ac1um1al Report and Abstract) Rcgulauons. 2000. l'ARTICl LI\RS 01 1'01 I( IES l·Olffl·ITl·D OR LAPSLD l'-1 rHE LAST YI AR l '\DER REVlcW A '\D OF l'Ol I( Is RL \ I\ ID \ ,1 l l{l:1:--:s·1 j\Tl:D FOR 11 l l 131 '\U ITS CL •\SSJI ILD \( C'OIWl~C, ro TIIE YEAR I~ WIii( II IIIEY \\'ERE JSSUED---r-OR r!IE YEAR Li\OED 31~ \!ARC 1120 :-.:,um: nflnsurcr; Rcgi~trotlon Number· { ·1ass1l1c,111on: Busmcss W11h111 lncha1 Total Ous111css < ·:m:~ury: .\"1111-Linl-ttl 811,intss D1\1S1Ull Sub-Class: (irnup: Item Form Cot.le: [ ll II l[ 11 ][ )[ J[ ][ I Date of reg1s11at1on: Class11icanon l'ude I 1 Ca1ego1y Code I 2 I D1vis10n Cot.le I J Sub-Class Code: I I Group Code I I POLICES 1'01 ICII::S REVIVED AND No Year in wlucb pohc1es were issued FORFEITED/LAPSED REINSTATED FOR FULL Uf'\'EFITS Number Sum Annuity Number Sum Annutty of Assured pa of Assured pa polices polt~ s (I) (2) (3) (4) (5) (6) (7) (8) 01 Year endmg . be111g the year under review 02 Year ending_ . bcmg the year previous 10 that under review 03 Y car endmg _ . bemg rhe year previous to that under re\'JeW ... 04 Year endmg _ • hemg the year previous to 1ha1 u11dc1 review 05 Yenr ending_ . hcmg rhc year pr C\'tous tu 1ha1 under rc\"ft'\\ ()() \'car cnd111g -- • ti.:1ng tin: ycilr and carlter I Notes to I orm ODDD- 1. All 11!-!ures must hi.' hln11shcd 111 lhuusands. 2. ,\II amounts stated shall hl· Iota I _gros,; ;1111ou111s wnhout taking mto account of re-111surancc ceded or accepted J. Fm Col (21. for 111s1am.:c. 1·alua111111 date 1s JI 1 200 I hem O I should relate to the year ending on 31.3.2001 Item 02 should relate 10 1hc yc;11 cmhn11 on JI ~.2000 Item 03 shoult.l rclnte to the year cndmg on JI 3.191)9, ;rnd so on. hem Ob should rdatc- 111 lhl' yea, cndmg on J 1.3.1996 and earlier I I I ! I .. fORl\l NLB-1 (5,•c R,·gulmw11 4) Insurance Rcgulul!lrl' and Dc\'dnpmcnt A.ulhonty (Actuarial Report and Abstract) Rcgulauons. 2000. l'AR rl(l'LARS or POLICIES A:'\()\ \LLATIO~ DETAILS AS AT 31'' ;\J \IKH 20 . (1)11cc1 l.lusmcss plus rcmsurance accepted less rcmsurancc ceded) Rcg1s1ra11011 ,umber: Class1fica11on l.lusmcss W11hm Indio/ fo1al Dusmcss Category: D1v1sJOn: __________ _ Sub-Class. (,roup: Item \:u l>c,cn11111111 I' \IUICI 1.ARS OF POLICIES "' C. Form Code: [ If I[ If II II I[ ][ II ] Date ofn:gistration: _____ _ Class1fica11011 Codc:j J Category Code I ] D1v1sion Code: I ] Sub-Class Code: I I Group Code I I \',\I.IIATIO:\ DITAII S 35 <I) I Ii I (-ll 151 (hi (7) (1)) (10) (II) 112) tlJJ (14) 115) (lh) ti 01 1:11 l11\l1ra11«· l'rutl11c1: I I J(cgula1 r•r~llllllll1 I I 111) I ully pJ11I IIJl (h ) ln,11r1111ct• l'r11!111rt: · I 1(-,~ul,II l'n:IIIIU111 I 1111 rully l'Jlll "I' I\ I l(c1h1t·c1l l'u1d u1> 112 1/4 futul hl'lun• Ht•iu,111 :11,rt• fib I rural Jilt·, K1·i11\l11".IIIU' 1 l'\ote 10 l·om1 '\ I 13-1 · I All figures should h.: 111 1l111u~ands. 2 ColCI..,) Col(9)~<·u1tlll) tul<lll C'111t12J+C'ollD)·C'ol(l4)+Col(l5)-C'ol(l6), I / 36 ____ T_HE_G_AZ~TTE Of INDIA EXTRAORDINARY===:---:--::==[P=AR=l ~11-SEc. ~! [,\, ',' fi ,•~ttftlflf)/1 ./ J l1N11,111n· lh'l,!lll,11111, .11111 I 1.:, dop11ll'lll ,\11thur11,· r ,\c1uanal Rrpon :ind Ab!itracl) Rcgulallons, 2000, SlJi\1J\llAl<Y ,\i\ l) V,\I l \ I ION OF POUCIEC.. .\ ~ AT 31'' \larch, 20_. I iu.,._• 8 1,me~<; plu, , 1 :111c~· .1.:cq11rd. 1f .:Ill\ less rcmsur:mcc ceded) --- -- - - ------------------------------~ Form Code: I If ][ II J[ JI II II I[ I '\,1111l'ol l11su1t·1 . Date of regi!>untion: _____ _ Classification Code:[ Category Code: I l'.\RIIC'l L \RS OF f•OI IC'ILS \ALUATION Dli:TAILS I j :'>11b O;i~c; 1'),-x.1r- •~1 ! ., ~ € ,. I ::, i ,.. C !:'. ,_ ~ ':} ., {l 1 .. .,, ,,. ~ .,, .,, :!i c.. "' ., ~ Ill 6.. "E .£ 1 ~ ~ .,,, ri ::, ::, I; ::, .... 3 a g_ C .. C a. c.. C 0 .. !,! ~ 0 ~E ::, ::, ,, 0 ~ ! < Cl ~ C!) a) ii .., { t E=· ~ u !! 7.. 11 u a < .., C .,:;;; t'l :i " ~ ~ ] .. " ... !: EE E ls~ V -= E ;; C g ;;; E ;;; a 3 E 1= ::, ::, ·" o.ct ::, " C ::, ::, .!! z ;z: "' < ~ Ill > < u. u. u-;; 0 .... ,.._ - ;:::; ~ ~ -- :0 ' - - - ~ -- -- ,.._ € 0 - .,, - .... , -::. ~ ~ t:. ~ - - - - - - - - - _, --- _, --- _, '-' - - Ill I 1Jc 11\01\'fl)l:AL DlJS11"ESS Bu~in.:ss lkforc Rcmsurancc -IJ:! r\tlcr Re111s111.incc I IJJ <"icncral Belon: l<cmsurunce er •\nnuny -\ 1tc, Rc111s111 ancc (I, Pension Before l<emsuruncc ~ •\flcr Rcmsi.rJncc I m /,1/t· ; CROl P BLSl'lo ESS /111.\//lc:,\,\ l'1·c111111111s ( ,.,ar1111t,·t:d for ,wt 111ur1• i/11m om• 1·1•ur Odore Remsunrn~c -IE -\ f'lcr Remsur:mce I - II) l'rl'n1111,11., C ,u,,rwm·t:d for 11mrc 1'11111 mtt• I (.'ti/' '--- Kl Before Remsuronce Arter Rcmsur.ince II ( i<·11rml lkro,c kcrnsurancc I I 72 , 1111111111· .\ lier RcmsurJncc L' l't'll.\'/()/1 13etbrc Rc111sura111:c 74 f\ nc, Rc,nsunmcc I 15 ". her Rems,u;incc I I I I ' I l(i TOTALS Oi.:torc Reinsurance . I I 17 A lier Rc111suruncc I Note 10 Form ~Lll,2: - I .\II figures should be m thousands. 2. Col( 17)=Coll 9)+( nit i Ul • C 'nl( 11 l Col( 12) 1"C'ol( I J) -t C'ol( 14)+ C'ol( 15)-Col( 16). I hem No i (I) 01 • ,2 OJ 04 05 06 FORM LB-1 (Sn· R1:g11/a11u11 ./J 37 Insurance Regulatory and Development Authority (Actuanal Report and Abstract) Regulations, 2000. I' \RTIC'l1L,\RS OF POLICIES \ ND VALUATION DETAILS AS AT Jl't MARCH. 20_. ( 1>11 cct Business plus reinsurance accepted less reinsurance ceded) ~ame ol Insurer: Rcgistration Number: C'lass1fica11011 l3us111css Within India/ Total Business Ca IC!,!ory: l O1vis1on: Sub-Class: __________ _ liroup· PARTICULARS OF POLICES r>r-~t"RII' HON ,, lknctm, 11ayahlc un t.lcath. " marurny m othl•rw,~c e 0 i ~ { ()11 On 01her· = ~ l>.:ath l\fatunty than (S) il z ant.I (6) (2) (3) (4) (5) (6) (7) (,\) Insurance Product: I 1) Regular Premium i1) Single premium I 111lFully paid up I I 1v) Reduced Patd up (8 ) Insurance Product: 1) Regular Premium ii) Single premium iii)Fully paid up 1v) Rt:ductd Paid up R1tlt:r Benefits. specify . ....... Other a41ustmcnts, specify Total before Remsurance · I Deduct Reinsurance c.:cded Total a.Her Rcmsura.ncc I Note to Form LB-I - I. All figures should be m thousands ; 2. Col ( 12)= Col (9) -+-Col ( I O)+C'ol ( 11) Form Code: [ ]( ][ ][ ]l )[ ][ ][ ][ ] Date of reg1stra11on: ____ _ Classification Code:[ ] Category Code: [ ] D1v1s1on Code: [ ] Sub-Class Code: [ ] Group Code: [ ] VALUATION DETAILS Ollicc: Umt No11 ( 'rn,l 01 M111hema11cu yir.,rty Lmb1lttit Un11 Bonuses I Rc:.crvc5 1'1emmm s l.iahil111c allocated ~ (8) (9) (10) (II) ( 12) . 38 THE GAZETfE OF INDIA : EXTRAORDINARY FORM LB-4 (Sel! Rl!gulation 4) [PART lll-SEC. 4) · Insurance Re~ularory and Development Authonty (Actuanal Report and Abstract) Regulations, 2000. SI MMARY AND VALUATION OF POLICIES AS AT 31• Marcb,20._. (Direct Business plus rcmsurance accepted less remsurance ceded) l\amc of lnstm:1: Rc~1stra1ion Number: Classllication. Bus111ess \\ '11hm India/ Total Dusmes~ ra1cgmy• Dt\lSIOll Suh-< 'lass: < iroup PAR n nJLARS OF POLICES Form Code: [ ][ )[ ][ ][ ][ ][ ][ ][ ] Date of registration: _____ _ Classification Code:[ ] Category Code: D1v1Sion Code: Sub-Class Code: Group Code: [ ] [ J [ ) [ 1 VALUATION DET AJLS "'-.::~ he Ut"I KIi' 1111.., v, 11~-n.,fil) payable on death, umce Unit Non Unll Cost of Mathcmattc~ Ill" ... 111:itunty or othcl'Wlse yearly Liabililie Liabilil1e$ Bonuses I Reserves :-,.,. '- - Pmmum • alloealed ,; ~ i l; i On On Other E ~ E l>c~th Maturity than (5) ., -: and ((>) z e.. 2.. t11 I 121 I ~ I I (4 1 I (:ii (6) (7) {8) (9) (JO) (II) {12) ( 13) o I I 11\IIIVIIIUAI I I 1tt 1"1N~·, s B,1,· \Virh < ,1191-:a11l<'t·<: I Bus:tll-SS ll r, ,,,: l<c111,111.111<c 112 \ltL'I 1(~111\111,lll<C I 18 \\ rlhout l ,uarn111~c, lh:h•n.• lh.·111,ur..111"'\" o:r- i\ lh:1 l(L·1t1'111a1l(t,: O:i v,11cral \V11h G11ar.1111ecs- I Ari111111, lti..·1t,r1.• l(c111,111~1m:,· - 1)(1 AIICI l(CIINIIJII<:.: I I c"i7 \V11hoiat C 111;s1;111lc:L.', I f kh •"-· 1<1.·m,ur:1n, t" I (IS Alie• l(rnLS111un,i: ~1 (ll) ,,\. .. 1'1011 W11h' 1U.1fJlllL'\.°' ~ To 8l'1• 1r,· 1<1.·111,111.nh.:c: Alkr Ht:11btuJfl\:l" I-Tr W1llu•u1 c 11~1.uncc~ ~rn llct.11, l<~m'lrr:m,-.: o\llco lk111\l11;111sc I • I I~ I ;I(( 11/1' IIU'>l"IP,, I I ,1,· N 1th c 1t1J1a11tn:, lc11,11l\·~, IIL•r, 11._• k1.·ut'ln;i1h.'t: I I~ -4.111.·1 l(1.·111>111.11u,1.· I~ W11il11u1 t.,u;uiiHllCL~ I lh h•I\' l<u1h111.:uLe ,;;-i I All,T I<, llhllr.lll<( I 17 ( l\'ltl"l:11 W11h I Ht~IIJlll1.1.·, I ,111111111\ lkh11L Rv111.,u1,11K'-' 1TJ I "lh:r l•h.'llhHr:Uh . ._~ I I ,~ I W11h1Nt1 t ,u;inml,-..-l. I Bduo. l<,·111~111.111,;t 'Ci7 I .\lier R;..•11"uiancc I - I .! I I l'l·t1,h•II W11h G,1.11J111,-~ ' i I Bi."hlll" l(-.:·111!\.llf;.Jfl(il~ I 221 l\ll~, f(c111,ur.11h.·c 2:7 I \V,1l1t1111 l.J1,.1;1r;ut11.·1.1i I 1 BrJun' R~n,m,Jtt(i! 2:f - .,_ 11rr t<.-1,1s111 .111, t' .I - '"' l. hi I 01111 I.B-4 -(111(1.\) Col ( 10) •Col ( 11 )+Col ( 12). "1ml ~ ~ : ~ FORM IA /,\r.!t' Rt~11/111w11 4J 39 lnsuran<.:c lkgulatory and 0e\'clopmcnt Authorny (Actuarial Repon and Ab~tract) Regulations, 2000. \',\l.llATIO~ RES( 1LT AS AT 31" March, 20_ Name of Insurer: lkg1ma11on Number: Ca1i:gory: Item DESCRIPTION Bal;ince or Fund No shown 111 Balance Shci:1 (I) (2) (J) 01 Rusin~~ "ithin lntfoa: I Par Polices 02 Non-par Pol,ccs 03 Totals 04 Total IJu~iness Par Pohccs 05 Non-par polices 06 Totals Note to Fmm IA - I. ,\II ligures ,houl;I ~ m thousands. 2. Col (5) = Col (3)- Col H). J Form Code: [ ]I ][ ][ I[ II ][ ][ ][ I Date of reg1stratton: ____ _ Category Code: I I Mathematic J Surplus Negative Surrender al reserves Reserves Value (c,cluding Deficiency COSI of Reserves bonuses allocated) (4) (5) (6) (7) 40 TIIE GAZE1TE OF INDIA : EXTRAORDINARY [PART ill-SEC. 4] FORMLB-2 f~ee Regulatwn 4) l11:,,11rancc Regulatory and l)evclopment Authonty (Actuanal Report and Abstract) Regulations, 2000. STATEMENT OF NFT ASSET VALUES FOR THE SEGREGATED FUNDS MAINTAINED BY THE l"ISllRER FOR ITS Ll"1KED BUSINESS FOR THE FINANCIAL YEAR ENDED 3111 March, 20_. \lame oJ Insurer: Form Code: [ ][ ][ )[ ][ ][ ][ ][ ][ I Jkg1suat1011 Number: Class1fic.it10n: Uusmess \\'11h111 India, Total Business Category: D1nsion: ________ _ Sub-{'la~s: <iroup: 11cm r>csi:np11on No. (I) (2) 'I I Fund bro11gh1 to,ward from last year 02 , Value or crcuuon of units 03 lncn:ase (dci:1case) 111 value of 111vesm1ents in the financrnl yea, 04 ( It her mcom..: 05 I l'otnl income (Sum 01 to 041 oc, Value of canccllauon of1,mits 07 \1anagcment charges • 08 lax paid 09 01h1:1 ~xpenduure IO Increase (decrease) in provisions II Tot:ll expenditure (Sum 06 1010) 12 , hmcl carried forward 13 Total Number of l 'nus: 14 "-kt Asset Value per Unit Notes 10 form LD-2. I) All items must be an Lhousands7: Date of registration: ____ _ Classification Code:[ ] Category Code: [ ] Division Code: [ ] Sub-Class Code: [ ] Group Code: [ J Segregated Segregated Segregated . .... Fund I Fund2 Fund3 (3) (4) (5) (6) 2) Items under C:1>1 (3). l of (4). Col (5). Col (6) etc. must be brought forward from the annual accounts of the company. Total (7) I I -i "Uffllfil~:~ FORM LB-3 f,\n· Rt'gulmum 4) Insurance Regula101y and Dcwlupmelll Autho111y (Actuarial Repon and Abstract) Regula11ons. 2000. STATEMENT OF A;\AL\'SIS OF l'ilTS IN SEGREGATED FUNDS AS AT 31!',r MARCH. lO_. 41 Form Code: [ JI I[ ][ )[ ][ ]( ][ ][ ] Name of Insurer: Rcg1s1rauon '-umber: Class1fica11on: Business W1thm India/ Total Busmess Category: 01v1S1on: _ ___ _ ___ _ Sub-Class: _______ ___ _ Group. Item No. I Desc11pt1on Segregated Fund I (I) (2) (3) 01 a) Insurance Product 02 b) 03 c) 04 -05 Total - Date of registration: ___ _ _ Classtfica11on Code:! ] Category Code; ( ) D1v1sion Code: [ J Sub-Class Code: [ I Group Code I I NUMBER OF INITS IN Segregated Segregated ..... Total Fund 2 Fund 3 - (4) (5) (6) (7) - 42 1HE GAZETTE OF INDIA : EX'IRAORDINARY FORMH (St't' Regulation 4) Insurance Reg.ulo.101 y and Development Authority (Actuarial Report and Abstract) Regulations, 2000. Sl\lMARY OF VALUATION AS AT 31ST March, 20 __ . Form Code: [ ][ )[ ][ ][ ][ ][ )[ ][ ] :--lame of I nsurc1: lkg1sir:111on Number Date of registration: ____ _ hem C'o.tcgory of h11s1111:ss 'v1athcmatical Reserves No. (mclus1ve of cost of bonuses allocated) ( I ) 12) (3) 01 DUSI NESS WITHIN lNDIA: Linked I3usmcss 02 Non-Linked Urn,111ess 03 llealth Insurance Uu!>mess 04 TOTAL 05 TOTAi Bl"SII\ESS: Linked 13us111c!is 06 Non-L111kcd Bus111css 07 Health lnsurancl' Business ()~ TOTAL 'Iott: to Fonn 11 - I All figures should hl' 111 thousands. 2 M,1thcmaucal reserves 111 Col CJ) shall be furnished inclusive of cost of bonuses allocated ,t J. [ "W!ID-~4] FORM I (St'e Regulation .fJ 43 Insurance lkgulatory and Development Aulhonty (Actuarial Report and Abstract) Regulauons, 2000. \'ALUATION RESULTS AS AT 31" March, 20_ Name of Insurer: Rcg1strat10n Number: Item DESCRIPTION Oalonce of Fund No ~hown m Balance Sht:t:I ( l) (2) (.1) 0 1 Business within India: Par Polices 02 Non-par Polices 03 Totals 04 Total Business Par Polices 05 Non-par polices 06 Totals Note to Fom1 I - I. All figures should be 1n thousands. 2. Col (5) Col {3)- Col (4). Form Code: [ )[ ][ ][ ][ )[ ][ ][ ][ ) Date of registration: ____ _ Mathematical Surplus Negative Surrender reserves Reserves Value (excluding cost of Deficiency bonuses allocated) Reserves (4) (5) (6) (7) I • I I 44 TI-IE GAZETTE OF INDIA : EXTRAORDINARY [PART ID-SEC. 4J 0 z E ~ (I) 01 02 03 04 05 06 07 08 09 10 II 12 13 14 I~ 11, 17 IK , ,, !O ~ I 11 ~, .!~ ~- 'h -~ FormK rs,,,. Rt•gulatw11 4) Insurance Regulatory and Development Authority (Actuanal Report and Abstract) Regulations, 2000. STATE:\1ENT OF SOLVENCY MARGINS: LIFE INSURERS Form Code [ ][ J[ ][ ]l II )[ ][ )[ ) Name ot' Insurer: Rcg1s1rauon !',umber: Date of reg1Stra11on: _____ _ Class1fica11on: Business W1tl11n India/ f"oml Business Class1ficat1on Code:[ TABLE 1- REQUIRED SOLVENCY MARGIN BASED ON MATHEMATICAL RESERVES AND SUM AT RISK Ocscnpllon Mothcm:iucal Mathcmaucal Kl Suma1 Risk Sum at Risk Kl Required R~,crves Reserves a ftcr before after $ Solvency hcti11e Rcmsunincc Reinsurance Reinsurance :ii Morgm Rem,urancc i;.. &2 c V U i.:: ., .. Cl) i;.. (2) ()) (4) (5) (6) (I) (8) {'.I) ( 10) (11) ~illl:IU;l[)'.,!S!lo-L1ok~. OM1lo11- ladlvldul Sub-('lass- Lite OuSJness Sub-Cuss- \JCIICl'lll Annuity Sub-Class- pension llixllit■i ~lllMD ll111iaw; Sub-class: Life Bu~mcs~ : a) Premiums guaranteed lor not more than one year b) Pmniums gua,antced for more rhan one year SulM:l;us· General Annuuy Sub-class: Pension Cal!:&!l[)'.: Link~ . Divl,ion- Individual Sul>-{ ·1;,ss- Lile Oussnt:~ :a) with guarantc~ b) Wlll'M>ul guaranl,t.'> Su1>-<·1w- Gcnc:r.il Annuny ;i) wuh gu:uantce5 h) w11hout gua111n1eci. Sub.('l~s- rcn,1011 :a) Wuh guar.111tccs b) w11hout gu:aranll:CS Divi1isloi Gm11u ll11aiDll\i Sul>-< I~- Lile llus1ncs. a) with ~u:arantc-c,, hi wuhout l!Ua1Jntcc~ \uh-I l.i"- \ ,c11crJI Anmut~ J I \\ 1th J:!UJr31lh."t:', f'tJ \\ 11huu1 gu~.uaoh.:!.:, '.'\uh-( la:,,,.s• lil'l1'UtH ~ I \a. 1th !!lfJt'Jnt,-c, hi 111111.1111 ;:uar.int.:.:s (°;IIC!,:lll')' I kallh 111,m,111,c I>""'""" !ID!~ i.!!lli!J '11".( l:i.-..,- I 1nhJ JI \\ 11h )!ttaiJ1llcc, h l \\!,th, •ul ~11..11ant1.·c, '\ll , ... 1 J-1,,· ~u, I •1•.• ll I I D,,,, u1 ( ,ruu1t Hu,iu~·,, I I ' J " • I Ill~ I I:,, W11h ,:uarJnm,°' I I bl \\ 11lh 1lll t!llal.lllk '"'' I I '"" .. 1,1'< N,111 I 1111.<11 1 I , .11 I'" 111mn " c1.J 1.1111t.:1..'\I ! 11 nru 1 " ~"' 1h.1111111c .,.,.11 I thJ h \. ttllU111, )!llJl.lllh.'\.11 lu l IIIP h,." I j 1han ,Mt\ \ \ JI I -- I I I l111a1' I -- .. 'lfl'ffl 1'il ~ : 3H11tU{III "liote~ lo Form K: (I) KI 0.85• or (Ma1hcma11cal Reserves after Reinsurance/ Mathematical Reseives before reinsurance), "luchevcr ,s higher f O :'iO in case of re,n~urers, carrying on hfe insurance -business]; (2) K2 "0.5 or (Sum a1 Risk after reinsurance. Sum at nsk before reinsurance). which ever 1s higher;. (J) f'ol.( 11) [C'ol (>) x Col(5) x C"ol (<J)] + [Col.(6) x Col.(8) x Col. (10)]; 45 (4) In the computauon ol the 101111 sum at risk. ignore the contracts for wluch the sum at nsk is a negative figure or docs not cx1s1: (5) Details of first and second facto,!>: Item F11'$I FaclOr Second Factor ,uu-1 inkl'tl 111,.inrs~: Individual Ou\inf",: Ol· l1tc: llU"ilO~!,.l'i,. 4% OJ% 02: General Annuuy 4% 00/o OJ P~-n)ion 4% 00/4 (),I Hc~lth 4% 0% c:ruup Bu\inns: ,.,{t' l'n:m1ums p.uar:m1ecd lor 115. nol more 1'1.111 one yc.ir 1% 02% llfr more 1h,m one year J¾ 0.)•;. 07 <icnc:rJI Annuily 4% 0"/4 WI Pension 4% 0% I.inked Bu,inus: l11di~idu1I Businr•.-: I.tic Bu,mess- 11: With ~u:ir:m1ccs 2% U.2% 12· W11hou1 (ju.11:intces 1 h1. OJ% General Annuity 13 With P,u:lf'llll!CC> 2¾ (¥¼, 14 W11hou1 Liu:ir:intees 1•-1, O"lo l'cn.,100 15 W11h pu:mm!CO 2o/. 0% 14 W11hoo1 Gullnmtees 1% II¾ Croup 81tsiDesS: Life Business- 15; Wllh guarantee.. 2,, OJ'½ 16: W1thoul Guarantees 1% 0.2'½, < iern:r.i I A nnu11y 17; With [lU3f'llllleell 2'/'i. II'½, ll!: W1thoul Guannlees I •:-:~ IJ':,:. l'cnsnm 111. W11h l!U•r~nt~'CS 21Yo 0% 111 \\ ,11>111,t < ,uar:mlL'CS 1•:1. ,.,y. 11 .. 11h ln,uranc" l11tlh1tl11al llu~lnr" I "'~c,l 1>11-1111:"' i 1 \\ liH < n1JrJnlct:, 11 W11h0111 < iuanmh;co 2% II'},. lo/ii '~'½1 :!3 ~un-1 in~cd Uu,,m.~ ;iy. 11% <;rnup Uu~inl'n I mked :!4 W11h < ,11,mmlL'.:, 2% 11% 1.'i: Wnholll j;IIDl"JRICCS , .... ,,.,,.. , .. n-1 in~, .. , ~" l•h.:111111111' gu~u.inh,:c" lt11 th1t tJlllh." 1h;.111 ~\.'JI 1· .. 1r: .. " ., 1'11.;m1u111, ~u .. 11anh.'\.''- 1tu muh.· 1h.m 1111c ''-'a• , .. . " U"~, 46 THE GAZE1TE OF INDIA : EXTRAORDINARY [PAKr ill-SEC. 4) TABLE JI- REQUIRED SOLVENCY MARGIN BASED ON ASSETS OF POLICYHOLDERS' FUND Form Code: [ )[ ][ ][ ][ ][ ][ ][ )[ ] Name of Insurer: Rcg1stra11on Number: Date of registration: ____ _ Class1fica11on: 13usmesi. W11h111 India, fotal Business Classification Code:[ Item Category of Asset \/otcs Amount Third Required No No. (~ce Notes Fac1or Solvency Margin hdow) % Rs. ( I l (2) m (4) (5) ~on-Mandated 111vcs1ments Corporate Bonds 01 AAA 01 equivalent 02 AA or equ,v::ilent 03 A or equivalent 04 013.13 or equ1v:ilcn1 05 DB or equivalent 06 0 or equivalent 07 Lower than 0 08 llnra1ed Mortgages 09 Residential 10 r.mmerc1al Real estate 11 Res1denual 12 Commercial Preference shares 13 Listed Preference Shares 14 Unlisted Preference Shares Equity 15 Listed Ordmary Shares 16 Unlisted Ordtnary Shares 17 TOTAL Notes: (1) Column (5)= Column(3)*Column(4); (2) Column (4) _,;, zero until funher intimation from the Authority; (3) The Table should show the Amount (in Column (3)) which is balance sheet value in respect of the above- mentioned category of asset (where the baJance sheet is prepared in accordance with Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor's Report of Insurance Companies) Regulauons, 2000.) (4) All the figures m Columns (3) and (5) should be in Indian Rupees lakhs. .__,. :! J .. ['Wlill-~4) 47 TABLE Ill- AV Al LAB LE SOL VENC\' MARGIN AND SOL VEN CY RATIO. Name of Insurer: Registration Number: Form Code: [ ][ ][ ][ ][ ][ ][ ]f ][ ) Dnte of reg1stra11on: ____ _ Classtficauon: Dusmess Within India/ Total 8usmess Class1ficnt1on Code:[ ) Item Description Notes Adjusted Value No ... (I) (2) (3) (4) OJ Available Assets m Policyholders' Fund Deduct: 02 Mathematical Reserves 03 Other L1ab1hties 04 Excess in Policyholders' funds (01-02-03) 05 Available Assets m Shareholders Fund· Deduct: 06 Other L1abili1Jes of shareholders' fund 07 Excess in Shareholders' funds (0S-06) 08 Total ASM (04)+(07) 09 Total RSM 10 Solvency Ratio (ASM/RSM) Certification: I, , the Appointed Actuary, certify that the above statements have been prepared in accordance with the section 64 VA of the Insurance Act, 1938, and the amounts mentioned therein arc true and fair to the best of my knowledge. Place Date: Notes Name and Signature of Appointed Actuary 1. Item No. 01 shall be the amount of the Adjusted Value of Assets as mentioned in Form !RDA-Assets- AA as specified under Schedule 1 of Insurance Regulatory and Development Authority (Assets, Liabilities, and Solvency Margin of Insurers) Regulations, 2000; · 2. Item No. 02 shall be the amount of Mathematical Reserves as mentioned in Form ff; 3. Item Nos. 03 and 06 shall be the amount of other liabilities as mentioned in the Balance Sheet; 4. Items No. 05 shall be the amount of the Total Assets as mentioned in Form !RDA-Assets- AA as specifitd under Schedule I of Insurance Regulatory and Development Anthnritv (Assets, Liabilities, and Solvency Margin oflnsurers) Regulations, 2000 • N. RANGACHARY. Chairperson [No: ADVT.-3/4/Extv/161/2000) Prialod by the Managa-, Oovt.. of India Pr-. R.iag Road, Mayapuri. New Delbi-U0064 and Pubtilbod by the CGmolkr afPuhlicaliam, Delbi-l 100S4-2000