FORM NL-1-B-RA
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
REVENUE ACCOUNT FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
SN
1
2
3
4
PARTICULARS
Schedule
Premium Earned (Net)
Profit/Loss on Sale/Redemption of Investments
Others
Interest, Dividend & Rent -Gross
1
TOTAL
1
2
3
4
Claims Incurred (Net)
Commission
Operating Expenses related to Insurance Business
Expenses related to Investments :
a) Amortization of Premium on Investments
b) Stock Holding Charges
c) Bank Interest & Charges
d) Cenvat Credit Input Claimed
TOTAL
Operating Profit from Crop Insurance Business
APPROPRIATIONS
Transfer to Shareholders' Account
Current Period
Previous Period
01.04.11-30.09.11 01.04.10-30.09.10
(` in '000)
7082515
0
0
676163
6515090
2125
(A)
7758678
7105880
2
3
4
5214093
(1309654)
86840
6058682
(606618)
119041
(B)
5715
393
13
0
3997400
5580213
C=(A-B)
3761278
1525667
3761278
1525667
588665
8774
282
52
Transfer to Catastrophe Reserve
0
0
Transfer to Other Reserves
0
0
3761278
1525667
TOTAL
FORM NL-2-B-PL
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
PROFIT AND LOSS ACCOUNT FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
SN
1.
Current Period
Previous Period
Schedule 01.04.11-30.09.11 01.04.10-30.09.10
(` in '000)
PARTICULARS
OPERATING PROFIT/(LOSS)
Crop Insurance Business
2.
INCOME FROM INVESTMENTS
a) Interest,Dividend & Rent-Gross
b) Profit on Sale of Investments
3761278
1525667
422235
0
238201
860
45000
10
0
4228523
1191
163
0
1766082
.
3.
OTHER INCOME
a) Miscellaneous Receipts
b) Profit on Sale of Assets
c) Prior Period Income
TOTAL
4.
5.
(A)
PROVISIONS (other than Taxation)
a) Dimunition in the value of Investments
b) Provision for Doubtful Debts
c) Provision on Standard Assets
OTHER EXPENSES
a) Expenses other than those related to insurance business
b) Amortisation of Premium on Investments
c) Stock Holding Charges
d) Bank Interest & Charges
e) Loss on Sale of Assets
f) Preliminary Expenses Written off
g) Prior Period Expenses
TOTAL
(B)
PROFIT BEFORE TAX
PROVISION FOR TAXATION
a) Income Tax (Current Year)
b) Income Tax (pertaining to earlier years)
c) Wealth Tax
d) Fringe Benefit Tax
(C=A-B)
0
0
7604
0
(13550)
4913
0
3569
245
8
0
0
0
11426
5608
181
33
0
0
0
(2815)
4217097
1768897
1368237
2450
0
0
587583
0
0
0
0
1370687
0
587583
2846410
1181314
APPROPRIATIONS
a) Interim Dividend paid during the year
b) Proposed Final Dividend
0
0
0
0
c) Dividend Distribution Tax
d) Transfer to General Reserve
TOTAL
0
0
0
0
0
0
PROFIT AFTER TAX & APPROPRIATIONS
2846410
1181314
Add: Balance of Profit/(Loss) b/f from last year
BALANCE C/F TO BALANCE SHEET
0
2846410
0
1181314
e) Deferred Tax
TOTAL
(D)
PROFIT AFTER TAX AVAILABLE FOR APPROPRIATION
(E=C-D)
Basic Earning per Share
Diluted Earning per Share
Number of Equity Shares
Nominal Value per Share
14.23
-
5.91
-
200000
Rs.10/-
200000
Rs.10/-
FORM NL-3-B-BS
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA: 30.10.2003
BALANCE SHEET FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
SN
PARTICULARS
Schedule
Current Period
Previous Period
01.04.11-30.09.11 01.04.10-30.09.10
(` in '000)
SOURCES OF FUNDS
1
2
Share Capital
Reserves & Surplus
5
6
3
4
Fair Value Change Account
Borrowings
7
TOTAL
1
2
3
4
APPLICATION OF FUNDS
Investments
Loans
Fixed Assets
Deferred Tax Asset
5
6
7
Current Assets:
Cash & Bank Balances
Advances & Other Assets
Current Liabilities
Provisions
Sub - Total (B)
10
11
Net Current Assets (C) = (A) - (B)
Miscellaneous Expenditure
(to the extent not written off or adjusted)
TOTAL
Contingent Liabilities
Claims, other than against Policies, not
acknowledged as debts by the Company
(16940)
0
2000000
6839084
108504
0
14057753
8947588
8
9
10
18039130
12043
263037
19352
16405196
13227
362471
27675
11
12
13970244
7313935
21284179
11337368
3618438
14955806
13
14
17521834
8038154
25559988
16444911
6371876
22816788
Sub - Total (A)
8
9
2000000
12074693
(4275809)
(7860981)
0
0
14057753
8947588
0
0
FORM NL-4
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
PREMIUM SCHEDULE FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
PARTICULARS
Current Period
Previous Period
01.04.11-30.09.11 01.04.10-30.09.10
(` in '000)
Premium from Direct Business written
Add: Premium on Reinsurance Accepted
Less: Premium on Reinsurance Ceded
14464533
0
6658861
9530778
215
3171634
Net Premium
7805672
6359359
Adjustment for change in Reserve for Unexpired Risks
(723157)
155731
7082515
6515090
TOTAL PREMIUM EARNED (NET)
FORM NL-5
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
CLAIMS INCURRED [NET] FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
PARTICULARS
Claims Paid - Direct
Add: Reinsurance Accepted
Less: Reinsurance Ceded
Net Claims paid
Current Period
Previous Period
01.04.11-30.09.11
01.04.10-30.09.10
(` in '000)
7725767
0
1664417
6061350
8665625
0
683123
7982502
Add: Claims Outstanding at the end of the Current period
Add: Reinsurance Accepted
Less: Reinsurance Ceded
Net Claims Outstanding at the end of Current period
16903556
0
6186564
10716992
13573308
0
2915075
10658233
Less: Claims Outstanding at the end of the Previous Year
Add: Reinsurance Accepted
Less: Reinsurance Ceded
Net Claims Outstanding at the end of the Previous Year
15605975
0
4041726
11564249
13836948
0
1254895
12582053
Gross Incurred Claims
Add: Reinsurance Accepted
9023348
0
8401985
0
Less: Reinsurance Ceded
3809255
2343303
NET CLAIMS INCURRED
5214093
6058682
FORM NL-6
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
COMMISSION FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
Current Period
Previous Period
PARTICULARS
01.04.11-30.09.11
01.04.10-30.09.10
(` in '000)
Commission Paid - Direct
Add: Reinsurance Accepted
Less: Commission on Reinsurance Ceded
NET COMMISSION
60522
0
1370176
27386
43
634047
(1309654)
(606618)
Break- up of the expenses (gross) incurred to procure business to be furnished as per details
indicated below:
Agents
1131
648
Brokers
1202
3161
Corporate Agency
56705
23577
Referral
Others (pl. specify
TOTAL (B)
0
1484
60522
0
0
27386
FORM NL-7
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
OPERATING EXPENSES RELATED TO INSURANCE BUSINESS
FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
Current Period
Previous Period
PARTICULARS
01.04.11-30.09.11
01.04.10-30.09.10
(` in '000)
SN
1
Employees' Remuneration & Welfare benefits
59036
66785
5817
6159
59
66
14799
13705
2
Travel, Conveyance and Vehicle running expenses
3
Training Expenses
4
Rent, Rates & Taxes
5
Repairs
1924
3622
6
Printing & Stationery
1492
1770
7
Communication
1840
2005
8
Legal & Professional charges
8472
9081
9
Auditor's fees, expenses etc.
a)
as Auditor
342
352
b)
as Advisor or in any other capacity, in respect of
(i)
Taxation matters
0
0
(ii)
Insurance matters
0
0
(iii)
Management Services
0
0
c)
in any other capacity
0
0
10
Advertisement & Publicity
895
1189
11
Research & Development Expenses
12
Fees & Subscription to Statutory Authorities
13
Interest & Bank Charges
14
Depreciation
15
Others
TOTAL
(35650)
1499
6282
4644
41
39
16108
2657
5383
5469
86840
119041
FORM NL-8
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
SHARE CAPITAL FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
Current Period
SN
Previous Period
PARTICULARS
01.04.11-30.09.11
01.04.10-30.09.10
(` in '000)
1
2
3
Authorised Capital
150 crore Equity Shares of Rs.10/- each
Issued Capital
20 crore Equity Shares of Rs.10/- each
15000000
2000000
2000000
2000000
2000000
2000000
2000000
0
0
2000000
2000000
Subscribed Capital
20 crore Equity Shares of Rs.10/- each
4
15000000
Called-up & Paid-up Capital
20 crore Equity Shares of Rs.10/- each
Less: Preliminary Expenses
TOTAL
FORM NL-9
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
PATTERN OF SHAREHOLDING FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
[As certified by the Management]
SN
Current Period
01.04.11-30.09.11
Number of
% of
Shares ('000)
Holding
Shareholders
A. PROMOTERS - INDIAN
1 General Insurance Corporation of India
Previous Period
01.04.10-30.09.10
Number of
% of
Shares ('000)
Holding
70000
35%
70000
35%
National Agriculture Bank for Rural
Development
60000
30%
60000
30%
National Insurance Company Ltd.
& its nominee
17500
8.75%
17500
8.75%
4
The Oriental Insurance Company Ltd.
17500
8.75%
17500
8.75%
5
United India Insurance Company Ltd.
17500
8.75%
17500
8.75%
6
The New India Assurance Company Ltd.
& its nominee
17500
8.75%
17500
8.75%
200000
100%
200000
100%
2
3
TOTAL:
B. PROMOTERS - FOREIGN
NIL
TOTAL
200000
NIL
100%
NIL
200000
NIL
100%
FORM NL-10
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
RESERVES AND SURPLUS FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
Previous Period
Current Period
SN
PARTICULARS
01.04.10-30.09.10
01.04.11-30.09.11
(` in '000)
1
Capital Reserve
0
0
2
Capital Redemption Reserve
0
0
3
Share Premium
0
0
4
General Reserve
Opening Balance
Less:Charge on account of transitional
5
provisions under Accounting Standard 15
Add: Profit transferred during the year
Catastrophe Reserve
6
Other Reserves
9228283
0
0
Balance of Profit in Profit & Loss Account
TOTAL
5657770
9228283
0
0
0
5657770
0
0
0
2846410
1181314
12074693
6839084
FORM NL-11
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
SN
BORROWINGS FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
Current Period
Previous Period
PARTICULARS
01.04.11-30.09.11
01.04.10-30.09.10
(` in '000)
1
Debentures & Bonds
0
0
2
Banks (Secured against Deposits)
0
0
3
4
Financial Institutions
Others
0
0
0
0
0
0
TOTAL
FORM NL-12
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
INVESTMENTS FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
Current Period
SN
PARTICULARS
Previous Period
01.04.11-30.09.11
01.04.10-30.09.10
(` in '000)
A.
LONG TERM INVESTMENTS
1 Government Securities and
Govt. Guaranteed Bonds including Treasury Bills
9264829
7813058
2 Other Approved Securities - Housing Sector Bonds
2329358
1552636
3
a)
(i)
(ii)
Other Investments:
Shares
Equity
Preference
343034
0
73291
0
b)
c)
d)
e)
f)
Mutual Funds
Derivative Instruments
Debentures/Bonds
Other Securities-Tier II Bonds
Subsidiaries
Investment in Properties - Real Estate
0
0
450000
120000
0
0
0
0
0
0
0
0
3541621
4041258
0
120000
16048842
13600243
B. SHORT TERM INVESTMENTS
1 Government Securities and
Govt. Guaranteed Bonds including Treasury Bills
160433
0
2 Other Approved Securities - Housing Sector Bonds
548850
0
3
a)
(i)
(ii)
b)
c)
d)
e)
f)
g)
0
0
593392
0
0
0
0
0
0
0
550000
0
0
0
0
0
687613
0
4 Investments in Infrastructure & Social Sector
5 Other than Approved Securities
Sub - Total (A)
Other Investments:
Shares:
Equity
Preference
Mutual Funds
Derivative Instruments
Debentures/Bonds
Other Securities (Commercial Papers)
Subsidiaries
Investment in Properties - Real Estate
4 Investments in Infrastructure & Social Sector
5 Other than Approved Securities
Sub - Total (B)
GRAND TOTAL (A+B)
0
0
1990288
550000
18039130
14150243
FORM NL-13
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
SN
1
A.
a)
(i)
(ii)
b)
c)
(i)
B.
LOANS FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
Current Period
Previous Period
PARTICULARS
01.04.11-30.09.11
01.04.10-30.09.10
(` in '000)
SECURITY-WISE CLASSIFICATION
Secured:
On mortgage of Property:
In India
Outside India
On Shares, Bonds, Government Securities
Others
Loans to Staff
Unsecured
TOTAL
2
a)
b)
d)
e)
BORROWER-WISE CLASSIFICATION
Central & State Governments
Banks & Financial Institutions
Subsidiaries
Industrial Undertakings
Others(Loans to Staff)
TOTAL
3
a)
(i)
(ii)
b)
(i)
(ii)
PERFORMANCE-WISE CLASSIFICATION
Loans classified as Standard:
In India
Outside India
Non-Performing Loans, less provisions:
In India
Outside India
TOTAL
4
a)
b)
MATURITY-WISE CLASSIFICATION
Short Term
Long Term
TOTAL
0
0
0
0
0
0
12043
0
13227
0
12043
13227
0
0
0
0
12043
0
0
0
0
13227
12043
13227
12043
0
13227
0
0
0
0
0
12043
13227
0
12043
0
13227
12043
13227
FORM NL-14
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
FIXED ASSETS FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
(` in '000)
Particulars
Cost / Gross Block
Add:
Less:
As at
Additions Sale/ Deduction
01.04.2011 during
/ Discarded
the year
during the year
Depreciation
As at
30.09.11
As at
For
01.04.11 the current
Year
Net Block
On sale/
adjustment
Up to
30.09.11
As at
30.09.11
As at
31.03.11
(A)Tangible Assets
Buildings
36614
0
0
36614
10832
645
11477
25137
25782
9289
116
0
9405
5587
358
5945
3461
3702
96567
796
70
97293
33136
12801
45867
51426
63431
Vehicles
9551
345
0
9896
5167
599
5767
4130
4384
Office Equipments
5028
200
2
5226
2637
276
2911
2314
2391
Elec.Equip.& Fittings
4884
146
0
5029
2189
149
2338
2691
2694
Leasehold Improvement
7162
0
0
7162
7162
0
7162
0
0
Furniture & Fixtures
I.T. Equipments
70
1
(B)Intangible Assets
Computer Software
0
32356
46645
0
79002
6594
5308
201452
48248
72
249627
73305
20135
0
16156
0
0
0
0
16156
0
0
Capital Work in Progress-Software90621
TOTAL (B)
106777
GRAND TOTAL (A)+(B)
308229
0
0
48248
90621
106777
356405
0
0
73305
PREVIOUS YEAR
226397
TOTAL (A)
Capital Work In Progress
Capital Work in Progress-Hardware
334298
0
0
0
72
252466
308229
39912
11902
67100
71
93368
156259
128147
0
0
0
0
0
0
0
16156
0
16156
0
0
20135
0
0
71
0
0
93368
90621
106777
263036
90621
106777
234924
34686
1293
73305
234924
25763
294387
FORM NL-15
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
CASH AND BANK BALANCES FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
Current Period
SN
1
2
a)
(i)
(ii)
b)(i)
(ii)
c)
PARTICULARS
Previous Period
01.04.11-30.09.11
01.04.10-30.09.10
(` in '000)
Cash (including Cheques,Drafts & Stamps)
Bank Balances
Deposit Account
Short term (due within 12 months)
Others-Flexi Deposit
Current Accounts
Others
Others (Remittances in Transit)
25
6476
12603078
598722
768313
106
0
8482300
2848592
0
0
3
a)
Money at Call and Short Notice
With Banks
0
0
0
b)
With Other Institutions
0
0
0
4
Others
TOTAL
0
0
13970244
11337368
FORM NL-16
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
ADVANCES AND OTHER ASSETS FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
Current Period
SN
A.
1
2
3
4
5
6
a)
b)
PARTICULARS
01.04.11-30.09.11
01.04.10-30.09.10
(` in '000)
ADVANCES
Reserve Deposits with Ceding Companies
Application Money for Investments
Pre-payments
Advances to Officers & Staff
Advance Tax Paid & Taxes Deducted at Source
(Net of Provision for Taxation)
Others:
Advance Rent paid
Sundry Advances
Sub - Total (A)
B.
1 (a)
1(b)
2
3
4
5
6
7
a)
b)
c)
d)
e)
f)
g)
h)
Previous Period
OTHER ASSETS
Income accrued on investments
Income accrued on flexi deposit
Outstanding Premium
Agents' Balances
Due from other entities carrying on Insurance
Business (including reinsurers)
Due from subsidiaries/holding company
Deposit with Reserve Bank of India
(Pursuant to Section 7 of Insurance Act, 1938)
Others:
Sundry Deposits
Advance against Capital Assets
Short Collection of Premium
Premium Receivable
Others (Adhoc payment to Govt. of India)
Government (Centre/States/Uts/Coffee Board)
Sundry Debtors
Cenvat Credit Receivable
0
0
9658
2427
0
0
5172
1678
0
700693
150
90
24
1298
12325
708866
960425
0
0
0
641407
0
0
0
3672
0
33388
0
100793
101098
30500
10862
115377
0
2000000
4028542
26737
24702
24698
4597
64253
0
0
1934730
20090
85312
Sub - Total (B)
7301610
2909573
GRAND TOTAL (A+B)
7313935
3618438
FORM NL-17
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
CURRENT LIABILITIES FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
Current Period
Previous Period
SN
PARTICULARS
01.04.11-30.09.11 01.04.10-30.09.10
(` in '000)
1
Agents Balances
0
0
2
Balance Due to other Insurance Companies
4722980
2373543
3
Deposits held on Reinsurance Ceded
0
0
4
Premium received in advance
0
0
5
Unallocated Premium
0
0
6
Sundry Creditors
242915
309215
7
Due to Subsidiary/Holding Company
0
0
8
Claims Outstanding
10716992
10658233
9
Due to Officers/Directors
0
0
10
a)
b)
c)
d)
e)
OTHERS:
Excess Collection of Premium
Expenses Payable
Earnest Money Deposit
Government (Centre/States/Uts/Coffee Board)
Pension Contribution – New Employees
TOTAL
170919
173218
2625
1492185
0
17521834
190382
136998
2760
2773781
0
16444911
FORM NL-18
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
SN
PROVISIONS FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
Current Period
Previous Period
PARTICULARS
01.04.11-30.09.11
01.04.10-30.09.10
(` in '000)
1.
Reserve for Unexpired Risk
7139782
6186807
2.
For Taxation (Net of Advance Tax & TDS)
706310
0
3.
For Proposed Dividend
0
0
4.
For Dividend Distribution Tax
0
0
5.
Others:
i)
ii)
iii)
iv)
v)
Provision for Retirement Benefits
Provision for Doubtful Debts
Provision for Premium Defalcation
Provision on Standard Assets
Provision for Outstanding Expenses
97968
47
18733
68814
6500
49846
47
18733
57732
58711
8038154
6371876
TOTAL
FORM NL-19
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
MISCELLANEOUS EXPENDITURE FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
(To the extent not written off or adjusted)
Current Period
Previous Period
SN
PARTICULARS
01.04.11-30.09.11
01.04.10-30.09.10
(` in '000)
1.
Discount allowed in issue of shares
0
0
2
Research & Development Expenses
0
0
3
Preliminary Expenses
0
0
4
Others
0
0
0
0
TOTAL
FORM NL-21
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
(` in lakhs)
STATEMENT OF LIABILITIES FOR THE PERIOD ENDING 30TH SEPTEMBER, 2011
SN
(1)
1
2
3
4
5
Description
(2)
Fire
Marine
Sub class:
Marine Cargo
Marine Hull
Miscellaneous
Sub class:
Motor
Engineering
Aviation
Liabilities
Rural insurance
Others (Crop Insurance)
Health Insurance
Total Liabilities
Reserves for
Unexpired
Risks
(3)
NA
NA
Reserve for
Outstanding
Claims
(4)
NA
NA
IBNR Reserves Total Reserves
(5)
NA
NA
(6)
NA
NA
71397.82
28758.81
78411.11
178567.74
71397.82
28758.81
78411.11
178567.74
FORM NL-22
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
GROSS DIRECT PREMIUM UNDERWRITTEN
THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
FOR
(` in lakhs)
Crop Insurance
Grand Total
01.04.11 to 30.09.11 01.04.11 to 30.09.11
37384.52
37384.52
0
0
163.51
163.51
13311.65
13311.65
3104.94
3104.94
0.18
0.18
15281.64
15281.64
304.65
304.65
129.70
129.70
7.66
7.66
983.79
983.79
6837.37
6837.37
245.78
245.78
12443.81
12443.81
7594.46
7594.46
7.31
7.31
17.25
17.25
5.24
5.24
STATES
Andhra Pradesh
Arunachal Pradesh
Assam
Bihar
Chhattisgarh
Goa
Gujarat
Haryana
Himachal Pradesh
Jammu & Kashmir
Jharkhand
Karnataka
Kerala
Madhya Pradesh
Maharasthra
Manipur
Meghalaya
Mizoram
Nagaland
Orissa
Punjab
Rajasthan
Sikkim
Tamil Nadu
Tripura
Uttar Pradesh
Uttrakhand
West Bengal
Andaman & Nicobar Is.
Chandigarh
Dadra & Nagra Haveli
Daman & Diu
Delhi
Lakshadweep
Puducherry
0
5224.71
0
31255.87
0
1038.73
3.15
4195.52
819.17
4276.27
0.89
0
0
0
0
0
3.63
Total
144641.42
0
5224.71
0
31255.87
0
1038.73
3.15
4195.52
819.17
4276.27
0.89
0
0
0
0
0
3.63
144641.42
FORM NL-23
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA: 30.10.2003
REINSURANCE RISK CONCENTRATION FOR THE PERIOD ENDING 30TH SEPTEMBER, 2011
SN
No. of
reinsurers
0
Reinsurance Placements
Premium ceded to reinsurers
Proportional Non-Proportional Facultative
0.00
0.00
(` in lakhs)
Premium ceded to
reinsurers / Total
0.00
1
No. of Reinsurers with rating of AAA and above
2
No. of Reinsurers with rating AA but less than AAA
4
15033.39
764.02
23.72
3
No. of Reinsurers with rating A but less than AA
8
11288.51
411.06
17.57
4
No. of Reinsurers with rating BBB but less than A
1
0.00
35.50
0.05
5
No. of Reinsurres with rating less than BBB
0
0.00
0.00
0.00
6
No. of Indian Reinsurers
5
39056.14
0.00
58.65
18
65378.03
1210.58
100.00
Total
FORM NL-24
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
AGEING OF CLAIMS FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
No. of Claims Paid
LINE OF BUSINESS
Crop Insurance
6 Months - 1
1 Month
1 - 3 Months 3 - 6 Months
Year
No. of
No. of
No. of
No. of
Farmers
Farmers
Farmers
Farmers
0
2065404
1414461
76627
> 1 Year
No. of
Farmers
245
Total No. of
Claims Paid
No. of
Farmers
3556737
Total Amount of
Claims Paid
(` in lakhs)
77257.67
FORM NL-25
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration With the IRDA:30.10.2003
CLAIMS DATA FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
CROP INSURANCE
SN
Claims Experience
No. of Claims
(No. of Farmers)
1
CLAIMS O/S AT THE BEGINNING OF THE PERIOD
1663619
2
CLAIMS REPORTED DURING THE PERIOD
3326569
3
CLAIMS SETTLED DURING THE PERIOD
3556737
4
CLAIMS REPUDIATED DURING THE PERIOD
5
CLAIMS CLOSED DURING THE PERIOD
6
CLAIMS O/S AT END OF THE PERIOD
6225779
LESS THAN 3 MONTHS
3223822
3 MONTHS TO 6 MONTHS
2774188
6 MONTHS TO 1 YEAR
1 YEAR AND ABOVE
819
11334
174128
53641
FORM NL-26
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
Required Solvency Margin Based on Net Premium and Net Incurred Claims
For the period ending 30th September, 2011
(` in lakhs)
PREMIUM
SN
1
2
3
4
5
6
7
8
9
Description
Fire
Marine Cargo
Marine Hull
Motor
Engineering
Aviation
Laibilities
Others-Crop Insurance
Health
Total
Gross
Premium
Net
Premium
CLAIM
Gross
incurred
claim
Net incurred
Claim
RSM-1
RSM-2
RSM
244342.96
142795.64
148780.62
88965.33
34208.01
31243.93
34208.01
244342.96
142795.64
148780.62
88965.33
34208.01
31243.93
34208.01
FORM NL-27
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
OFFICES INFORMATION FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2011
Office Information
SN
Number
No. of offices at the beginning of the first half year of the FY 2011-12
No. of branches approved during the first half year of the FY 2011-12
Out of approvals of
No. of branches opened during the first half year previous year
of the FY 2011-12
Out of approvals of this
year
18
0
5
No. of branches closed during the first half year of the FY 2011-12
0
6
No of branches at the end of the first half year of the FY 2011-12
20
7
No. of branches approved but not opend
8
No. of rural branches
NA
9
No. of urban branches
18
1
2
3
4
3
0
The above figure includes 1 Head Office at Delhi, 17 Regional Office and 3 One Man Offices.
FORM NL-28
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
SN
1
2
3
4
5
1
2
3
4
5
6
7
8
PARTICULARS
Investments
Loans
Fixed Assets
Current Assets
a. Cash & Bank Balance
b. Advances & Other Assets
Current Liabilities
a. Current Liabilities
b. Provisions
c. Misc. Exp not Written Off
d. Debit Balance of P&L A/c
Application of Funds as per Balance Sheet (A)
Less: Other Assets
Loans (if any)
Fixed Assets (if any)
Cash & Bank Balance (if any)
Advances & Other Assets (if any)
Current Liabilities
Provisions
Misc. Exp not Written Off
Debit Balance of P&L A/c
SCH
8
9
10
STATEMENT OF INVESTMENT ASSETS AS AT 30TH SEPTEMBER, 2011
(` in lakhs)
AMOUNT
180391.29
120.43
2630.37
11
12
139702.45
73139.36
13
14
15
175218.34
80381.55
0.00
140384.01
9
10
11
12
13
14
15
TOTAL (B)
(A-B)
'Investment Assets' As per FORM 3B
AMOUNT
120.43
2630.37
13671.67
72131.43
175218.34
80381.55
0.00
(167045.99)
307430.00
(Rs. in Lakh)
SH
SN
'Investment' represented as
1
G. Sec.
2
G. Sec or Other Apporved Sec. (incl. (1) above)
3
Investment subject to Exposure Norms
1.'Housing & Loans to SG for Housing and FFE, Infrastructure
Investments
2. Approved Investments
3. Other Investments (not exceeding 25%)
Total Investment Assets
Reg. %
Not less than
20%
Not less than
30%
Not less than
15%
Balance
(a)
FRSM+
(b)
PH
Book Value (SH +
PH)
(c)
d = (b+c)
FVC
Amount
Total
(e)
(d + e)
29156.92
36988.54
66145.46
21.50
66145.46
41990.85
53269.69
95260.54
30.97
95260.54
23.11
31329.60
39744.81
71074.41
Not exceeding
55%
62269.37
78995.08
141264.45
100%
135589.82
172009.58
307599.40
*All securities are considered to be on the basis of 'Held to Maturity', hence only Book Value is given.
%
Actual
45.92
100.00
71074.41
-169.40
141095.05
307430.00
*Market
Value
FORM NL-29
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
DETAIL REGARDING DEBT SECURITIES FOR THE PERIOD ENDING 30TH SEPTEMBER, 2011
(Rs. in Lakh)
Particulars
As at 30.09.2011
Market Value
as % of total for this
as at 30.09.2010
class
as % of total for
this class
As at 30.09.2011
Book Value
as % of total for
As at 30.09.2010
this class
as % of total for
this class
Break down by credit rating
AAA rated
AA or better
171530.62
504.34
99.71
0.29
152519.86
504.74
99.67
0.33
172034.96
100.00
153024.60
100.00
13968.96
8.12
8831.81
5.77
20125.60
11.70
18885.46
12.34
64848.92
37.70
59874.39
39.13
Rated below AA but above A
Rated below A but above B
Any other
BREAKDOWN BY
RESIDUALMATURITY
Up to 1 year
more than 1 year and upto
3years
More than 3 years and up to
7years
More than 7 years and up to
10 years
above 10 years
Breakdown by type of the
issurer
a. Central Government
b. State Government
c.Corporate Securities
*All securities are considered to be on the basis of 'Held to Maturity', hence only Book Value is given.
57675.10
33.53
45648.13
29.83
15416.38
172034.96
8.96
100.00
19784.81
153024.60
12.93
100.00
66145.47
29115.08
76774.41
172034.96
38.45
16.92
44.63
100.00
68718.43
15604.25
68701.92
153024.60
44.91
10.20
44.90
100.00
FORM NL-30
Agriculture Insurance Company of India Limited
RegistRation No. 126 and Date of RegistRation with the IRDA: 30.10.2003
ANALYTICAL RATIOS AS AT 30TH SEPTEMBER, 2011
Current Period
SN
Particular
As on 30th
September, 2011
1
Gross Premium Growth Rate
2
Gross Premium to shareholders' fund Ratio
3
(Percentage / ratio)
Previous Period
As on 30th
September, 2010
51.77
17.61
102.77
107.83
Growth rate of shareholders'fund
59.23
9.22
4
Net Retention Ratio
53.96
66.72
5
Net Commission Ratio
(16.78)
(9.54)
6
Expense of Management to Gross Direct Premium
Ratio
1.02
1.54
7
Combined Ratio
63.40
65.10
8
Technical Reserves to net premium Ratio
228.77
264.89
9
Underwriting balance Ratio
39.60
12.40
10
Operationg Profit Ratio
53.67
25.44
11
Liquid Assets to Liabilities Ratio
89.45
132.72
12
Net Earning Ratio
36.47
18.58
13
Return on Net Worth Ratio
20.22
13.36
Gross NPA Ratio
0.00
0.00
Net NPA Ratio
0.00
0.00
Equity Holding Pattern for Non-Life Insurers
200000000
1
(a) No. of shares
2
(b) Percentage of shareholding (Indian / Foreign)
3
( c) %of Government holding (in case of public sector
insurance companies)
100% held by Govt.
Corporation/Companies/Bank
(a) Basic and diluted EPS before extraordinary items
(net of tax expense) for the period (not to be
annualized)
(b) Basic and diluted EPS after extraordinary items
(net of tax expense) for the period (not to be
annualized)
14.23
4
5
6
(iv) Book value per share (Rs)
100
5.91
10
FORM NL-31
Agiculture Insurance Co.of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
RELATED PARTY TRANSACTIONS FORM 01.04.2011 TO 30.09.2011
SN
Name of the Related Party
1
General Insurance Corporation of India
2
The New India Assurance Company
Nature of Relationship with
the Company
Description of
Transactions /
Shareholders
Reinsurance
(` in lakhs)
Consideration
paid
6.73
28.71
FORM NL-32
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
PRODUCTS INFORMATION AS ON 30TH SEPTEMBER, 2011
List below the products and/or add-ons introduced during the period
SN
Name of Product
Co. Ref. No.
IRDA Ref.no.
NIL
Class of
Business*
Category
of product
Date of filing
of Product
Date IRDA
confirmed filing/
approval
FORM NL-33
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
SOLVENCY FOR THE YEAR ENDING 30TH SEPTEMBER, 2011
AVAILABLE SOLVENCY MARGIN AND SOLVENCY RATIO
(` in lakh)
SN
Description
Notes
No.
(1)
(2)
(3)
1
Available Assets in Policyholders' Funds:
Amount
For Period
Ending
30.09.2011
(4)
1
183628.60
Deduct:
2
Liabilities
2
178567.74
3
Other Liabilities
2
1709.19
4
Excess in Policyholders' funds (01 - 02 - 03)
5
Available Assets in Shareholders Funds:
3351.67
3
211008.54
2
75322.96
Deduct:
6
Other Liabilities of Shareholders' fund
7
Excess in Shareholders' funds: (05 -06)
135685.58
8
Total ASM (04+07)
139037.25
9
Total RSM
10
SOLVENCY RATIO (TOTAL ASM/ TOTAL RSM)
34208.01
4.06
FORM NL-34
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
AS ON 30TH SEPTEMBER, 2011
Board of Directors and Key Person information
SN
Board of Directors
1
Name of person
Shri M. Parshad
Shri Arvind Kumar
2
3
Shri Tarun Bajaj
4
Shri R. K. Tiwari
5
Shri Mukesh Khullar
6
Shri K. N. Bhandari
7
Smt. Bhagyam Ramani
8
Shri S. K. Mitra
9
Shri I. S. Phukela
10
Shri S. K. Chanana
11
Shri P. C. James
Key Persons
1
Shri S. Chidambaram
Role/designation
Chairman-cum-Managing
Director
Director
Director
Director
Director
Director
Director
Director
Director
Director
Director
Appointed Actuary
Details of change in the period
No Change during the first half of the FY 2011-12
Appointed on the Board on 11.08.2011
Ceased to hold office of Director wef 11.08.2011
No Change during the first half of the FY 2011-12
No Change during the first half of the FY 2011-12
No Change during the first half of the FY 2011-12
No Change during the first half of the FY 2011-12
No Change during the first half of the FY 2011-12
No Change during the first half of the FY 2011-12
No Change during the first half of the FY 2011-12
No Change during the first half of the FY 2011-12
No Change during the first half of the FY 2011-12
FORM NL-35
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
NON PERFORMING ASSETS-7A (AS ON 30TH SEPTEMBER, 2011 )
Interest Rate
COI
Company Name Instrument Type
%
Has there
been
revision?
Total O/s
(Book Value)
Default
Default
Interest (Book
Principal
Value)
(Book Value)
Principal
Due from
Interest Due
from
Deferred
Principal
Deferred
Interest
Rolled
Over?
Has there been any
Principal Waiver?
Classification
Amount
NIL
Board
Approval Ref
Provision
(%)
Provision
(Rs)
FORM NL-36
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
STATEMENT OF INVESTMENT AND INCOME ON INVESTMENTS AS ON 30TH SEPTEMBER, 2011
Current Period
SN
A1
A4
B1
Category of Investment
Central Government Securities
Deposit u/s 7 of Insurance Act, 1938
State Government Bonds
Category
Code
CGSB
CDSS
SGGB
Investment (Rs.)
Book Value
Market Value*
0.00
0.00
10910.78
Income on
Investment
(Rs.)
0.00
0.00
97.83
Gross
Yield
(%)¹
0.00
0.00
8.60
Year to Date
Income on
Investment (Rs.)
Investment
Net Yield Book Value Market Value
(Rs.)
(%)²
0.00
0.00
5.81
0.00
0.00
13512.92
0.00
0.00
199.29
Gross
Yield (%)¹
0.00
0.00
8.55
Net
Yield
(%)²
0.00
0.00
5.78
(` in lakhs)
Previous Year
Income on
Investment (Rs.)
Gross
Net Yield
Investment
Yield (%)¹
(%)²
Book Value Market Value
(Rs.)
2947.70
0.00
8309.14
164.46
0.00
82.76
7.85
0.00
8.41
5.18
0.00
5.55
C5
Bonds/ Debentures Issued by HUDCO
HTHD
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
C6
Bonds/ Debentures Issued by NHB
HTDN
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
C7
Bonds/ Debentures issued by Authority
constituted under any Housing/ Building
Scheme approved by Central/ State/ any
Authority or Body constituted by Central/
State Act.
HTDA
2000.00
11.63
9.65
6.52
4000.00
84.12
9.84
6.65
11993.20
653.51
8.75
5.78
IPTD
4500.00
21.09
10.06
6.79
6000.00
68.99
9.93
6.71
5522.96
421.08
8.46
5.58
IPFD
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
EAEQ
0.00
0.00
0.00
0.00
97.20
0.00
0.00
0.00
566.80
73.81
2.05
2.05
EACE
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
500.00
16.72
10.09
6.82
4000.00
291.68
8.79
5.80
48283.38
571.69
9.82
6.64
61917.28
1489.10
9.81
6.63
107929.70
4347.36
7.54
4.98
15666.00
45.57
8.25
5.57
16367.92
48.07
7.50
5.07
52275.76
157.92
7.80
5.15
40702.10
145.72
8.95
8.95
69324.60
249.43
8.75
8.75
138966.80
578.11
7.95
7.95
122062.27
893.53
9.23
7.20
171719.92
2155.73
9.06
7.27
332512.06
6770.70
7.84
6.31
D2
D5
E1
E2
E6
E16
F9
Infrastructure/ Social Sector-PSUDebenture Bonds
Infrastructure/ Social Sector-PSUDebenture Bonds (Tax Free)
PSU (Approved Investment) Equity shares Quoted
Corporate Securities (Approved
Investment) - Equity shares Quoted
Corporate Securities - Bonds (Taxable)
Deposits - Deposit with Scheduled Banks
Mibor Deposit
Liquid Fund - MUTUAL FUND
TOTAL
EPBT
ECDB
OMLF
*All securities are considered to be on the basis of 'Held to Maturity', hence only Book Value is given.
FORM NL-37
Agriculture Insurance Company Of india Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
DOWN GRADING OF INVESTMENT STATEMENT AS ON 30TH SEPTEMBER, 2011
SN
Name of the Security
A.
During the Quarter ¹
COI
Amount
Date of
Purchase
Rating
Agency
NIL
B.
As on Date ²
Original
Grade
Current
Grade
(Amount ` in lakhs)
Date of
Remarks
Downgrade
FORM NL-38
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
ANNUAL BUSINESS RETURNS ACROSS LINE OF BUSINESS AS ON 30TH SEPTEMBER, 2011
(` in lakhs)
Current Year
Previous Year
SN
Line of Business
01.04.11-30.09.11
01.4.2010-30.09.10
Premium
No. of Policies
Premium
No. of Policies
1 Fire
0
0
0
0
2 Cargo & Hull
0
0
0
0
3 Motor TP
0
0
0
0
4 Motor OD
0
0
0
0
5 Engineering
0
0
0
0
6 Workmen's Compensation
0
0
0
0
7 Employer's Liability
0
0
0
0
8 Aviation
0
0
0
0
9 Personal Accident
0
0
0
0
10 Health
0
0
0
0
11 Others* Crop Insurance
144641
296129
95418
270169
FORM NL-39
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
RURAL AND SOCIAL OBLIGATION AS ON 30TH SEPTEMBER, 2011
(` in lakhs)
SN
Line of Business
1
Fire
2
Cargo & Hull
3
Motor TP
4
Motor OD
5
Engineering
6
Workmen's Compensation
7
Employer's Liability
8
Aviation
9
Personal Accident
10
Health
11
Others*Crop Insurance
Particular
Rural
Social
Rural
Social
Rural
Social
Rural
Social
Rural
Social
Rural
Social
Rural
Social
Rural
Social
Rural
Social
Rural
Social
Rural
Social
No. of Policies
Issued
Premium
Collected
144641
* any other segment contributing more than 5% needs to be shown separatly
Note-Entire AIC premium is Rural and Social
296129
Sum Assured
2857920
FORM NL-40
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
Channels
SN
Business Acquisition through Different Channels
Current Year
01.04.2011-30.09.2011
No. of Policies
Premium
Previous Year
01.04.2010-30.09.10
No. of Policies
Premium
(` in lakhs)
1
2
3
4
5
6
7
Individual agents
Corporate Agents-Banks
Corporate Agents -Others
Brokers
Micro Agents
Direct Business
others
Total (A)
1
Referral (B)
Grand Total (A+B)
(` in lakhs)
0
0
0
2171
6491
7225
280242
296129
0
0
0
203
479
418
143542
144641
0
209555
0
18163
39921
2530
0
94015
0
486
829
88
270169
95418
0
0
0
0.00
1727314
144641
270169
95418
FORM NL-41
Agriculture Insurance Company of India Limited
Registration No. 126 and Date of Registration with the IRDA:30.10.2003
GRIEVANCE DISPOSAL STATEMENT AS ON 30TH SEPTEMBER, 2011
SN
Particulars
1
Complaints made by customers
Opening
Balance
Additions
Complaints Resolved
Partial
Fully Accepted
Accepted
Rejected
Complaints
Pending
a)
Sales Related
1
NIL
NIL
NIL
1
NIL
b)
Policy Administration Related
NIL
3
NIL
NIL
3
NIL
c)
Insurance Policy Coverage related
NIL
5
NIL
NIL
5
NIL
d)
Claims related
10
87
NIL
NIL
95
2
e)
others
NIL
3
NIL
NIL
3
NIL
d)
Total Number
11
98
NIL
NIL
107
2
Complaints
made by
customers
Complaints made
by intermediaries
Total
2
NIL
2
NIL
NIL
NIL
2
NIL
2
2
Duration wise Pending Status
a)
Less than 15 days
b)
Greater than 15 days
Total Number