FINANCIAL DISCLOSURES FOR THE QUARTER ENDED JUNE 30, 2013

Transcription

1 REGISTRATION NO 104: DATE OF REGISTRATION WITH IRDA : NOVEMBER 15, 2000 FINANCIAL DISCLOSURES FOR THE QUARTER ENDED JUNE 30, 2013 Form No Description Pages L-01 REVENUE ACCOUNT 2-5 L-02 PROFIT & LOSS ACCOUNT 6 L-03 BALANCE SHEET 7 L-04 PREMIUM 8-10 L-05 COMMISSION 11 L-06 OPERATING EXPENSES L-07 BENEFITS PAID L-08 SHARE CAPITAL 20 L-09 PATTERN OF SHAREHOLDING 20 L-10 RESERVE AND SURPLUS 21 L-11 BORROWINGS 21 L-12 INVESTMENT SHAREHOLDERS 22 L-13 INVESTMENT POLICYHOLDERS 23 L-14 INVESTMENT-ASSETS HELD TO COVER LINKED LIABILITIES 24 L-15 LOANS 25 L-16 FIXED ASSETS 26 L-17 CASH AND BANK BALANCE 27 L-18 ADVANCES AND OTHER ASSETS 27 L-19 CURRENT LIABILITIES 28 L-20 PROVISIONS 28 L-21 MISC EXPENDITURE 28 L-22 ANALYTICAL RATIOS 29 1

2 L-1-A-RA Policyholders Account (Technical Account) Sch For the Quarter Ended June 30th, 2013 Participating Policies (Non-Linked) Non-Participating Policies (Non-Linked) Linked Policies Total Individual Life Pension Individual Life Health Insurance Group Individual Life Pension Group Premiums earned - net Premiums L 4 7,232,450 6, ,632 15, ,640 4,141, ,060 56,620 13,253,487 Less : Reinsurance Ceded 43,133-12,779 6, ,178 38, ,812 Add : Reinsurance Accepted ,189,317 6, ,853 8, ,462 4,103, ,973 55,928 13,047,675 Income from Investments (a) Interest, Dividends & Rent - Gross 1,288,418 15, , ,321 1,166, ,562 15,598 2,768,455 (b) Profit on sale/ redemption of investments 114, ,293, ,609 18,347 2,615,568 (c) (Loss) on sale/ redemption of investments (94,331) (976,644) (65,021) (2,087) (1,138,083) (d) Transfer/ Gain on revaluation/change in fair value , ,812 4, ,691 (e) Amortisation of discount/(premium) 9, (783) - 1,427 34,048 1, ,189 (f) Appropriation / Expropriation Adjustment Account Other Income - Contribution from the Shareholders' Account Miscellaneous Income 27, (11) (796) (98) - 27,218 Total (A) 8,535,281 21, ,820 9, ,496 7,452, ,525 92,817 18,317,713 Commission L 5 951, ,134 1,877 6,987 93,343 4, ,194,061 Operating Expenses related to Insurance Business L 6 2,116, ,721 9,817 80, ,402 39, ,969,952 Provision for doubtful debts ,653 Bad debts written off Provision for Tax Provision (other than taxation) (a) For diminution in the value of investments( Net) (b) Others Total (B) 3,069, ,936 11,697 87, ,384 44, ,165,666 Benefits Paid (Net) L 7 1,265,083 14,222 89,434 4,983 67,291 5,216, ,484 40,668 6,971,544 Interim Bonuses Paid Change in valuation of liability against life policies in force: (a) Gross 3,802,907 (591) 386,171 (763) 353,710 1,151, ,753 49,156 6,229,572 (b) Amount ceded in Reinsurance (14,832) - (8,797) (23,058) (c) Amount accepted in Reinsurance Total ( C ) 5,053,158 13, ,808 4, ,572 6,367, ,237 89,824 13,178,058 SURPLUS/ (DEFICIT) ( D )= ( A) - ( B ) - ( C ) 412,857 7,916 (25,924) (6,459) (48,587) 563,420 68,618 2, ,989 2

3 L-1-A-RA FINANCIAL DISCLOSURES FOR THE QUARTER ENDED JUNE 30, 2012 ` in '000 Sch For the Quarter Ended June 30th, 2012 Participating Policies (Non-Linked) Non-Participating Policies (Non-Linked) Linked Policies Total Individual Life Pension Individual Life Health Insurance Group Individual Life Pension Group Premiums earned - net Premiums L 4 6,475,461 6, ,014 18, ,211 5,469, ,172 33,129 13,441,553 Less : Reinsurance Ceded 36,373-12,655 6,284 40,933 39, ,388 Add : Reinsurance Accepted ,439,088 6, ,359 11, ,278 5,430, ,085 33,129 13,306,165 Income from Investments (a) Interest, Dividends & Rent - Gross 915,560 14,427 54, , ,352 90,778 13,271 2,063,704 (b) Profit on sale/ redemption of investments 49, ,668, ,753 4,093 1,892,364 (c) (Loss) on sale/ redemption of investments (176) (1,994,094) (165,831) (3,030) (2,163,131) (d) Transfer/ Gain on revaluation/change in fair value (890,105) 3,102 4,848 (882,155) (e) Amortisation of discount/(premium) 11, (208) (1) 1,965 1,809 (94) - 15,163 (f) Appropriation / Expropriation Adjustment Account Other Income - Contribution from the Shareholders' Account Miscellaneous Income 18, , ,792 Total (A) 7,434,184 21, ,234 12, ,333 5,161, ,958 52,311 14,252,902 Commission L 5 891, ,005 1,978 8, ,137 7,143 (15) 1,104,463 Operating Expenses related to Insurance Business L 6 2,198, ,315 8,246 87, ,294 37, ,919,088 Provision for doubtful debts 5, , ,061 Bad debts written off Provision for Tax Provision (other than taxation) (a) For diminution in the value of investments( Net) (b) Others Total (B) 3,095, ,676 10,288 96, ,926 44, ,034,612 Benefits Paid (Net) L 7 1,106,201 6,365 58,438 4,779 50,698 3,752, ,458 41,276 5,207,291 Interim Bonuses Paid Change in valuation of liability against life policies in force: (a) Gross 2,768,568 18, ,123 (660) 253,116 (32,087) 415,616 7,821 3,575,607 (b) Amount ceded in Reinsurance 6,084-2, (10,801) (2,216) (c) Amount accepted in Reinsurance Total ( C ) 3,880,853 24, ,747 4, ,013 3,719, ,074 49,097 8,780,682 SURPLUS/ (DEFICIT) ( D )= ( A) - ( B ) - ( C ) 457,632 (3,774) 22,811 (2,237) (1,740) 871,065 90,975 2,876 1,437,608 3

4 L-2-A- P & L ACCOUNT Shareholders Account (Non-technical Account) Schedule For the Quarter Ended June 30th, 2013 For the Quarter Ended June 30th, 2012 Transfer from the Policyholders' Account (Technical Account) - Income From Investments (a) Interest, Dividends & Rent - Gross 548, ,428 (b) Profit on sale/redemption of investments 71,273 28,194 (c) (Loss) on sale/ redemption of investments (30,687) (230) (d) Amortisation of discount/(premium) (665) 36,494 Other income - Miscellaneous income Total ( A ) 587, ,985 Expenses other than those directly related to the insurance business Employees remuneration and welfare benefits 22,313 12,260 Donations - 6,000 Others - Interest and bank charges Travel, conveyance and vehicle running expenses - 7,508 - Rent, rates & taxes - 161,220 Total ( B ) 22, ,436 Profit/(Loss) before tax (C)=( A )-( B ) 565, ,549 Provision for Taxation 181, ,000 Profit/ (loss) after tax 383, ,549 Appropriations (a) Balance at the beginning of the year (2,693,344) (3,697,751) (b) Interim dividends paid during the year - - (c) Proposed final dividend - - (d) Dividend distribution on tax - - (e) Transfer to reserves/ other accounts 383,225 - Profit/(Loss) carried forward to the Balance Sheet (2,693,344) (3,542,202) 4

5 L-3-A- BS BALANCE SHEET AS AT JUNE 30, 2013 Sch As at June 30, 2013 As at June 30, 2013 As at March 31, 2013 As at March 31, 2013 SOURCES OF FUNDS SHAREHOLDERS FUNDS: Share Capital L 8 19,446,912 19,446,912 19,446,912 19,446,912 EMPLOYEE STOCK OPTION PLAN OUTSTANDING - - RESERVES AND SURPLUS L 10 2,417,609 2,034,384 CREDIT/(DEBIT) FAIR VALUE CHANGE ACCOUNT 68,397 27,239 Sub-Total 21,932,918 21,508,535 BORROWINGS L POLICYHOLDERS FUNDS: CREDIT/ (DEBIT) FAIR VALUE CHANGE ACCOUNT (49,716) (164,287) POLICY LIABILITIES - - Participating Individual Life Policies 62,910,652 59,122,577 - Participating Pension Policies 519, ,536 - Non-Participating Individual Life Policies 5,346,380 4,969,006 - Non-Participating Health Insurance Policies 6,814 7,577 - Non-Participating Group Policies 2,812,449 2,458,168 - Non-Participating Individual Linked Policies 3,072,040 3,062,883 - Non-Participating Linked Pension Policies 157, ,050 - Non-Participating Group Linked Policies 3,400 2,715 INSURANCE RESERVES - - PROVISION FOR LINKED LIABILITIES - Non-Participating Individual Linked Policies -Linked Liabilities 88,482,499 88,172,485 - Fair Value Change 6,540,564 95,023,063 5,708,506 93,880,991 - Non-Participating Linked Pension Policies -Linked Liabilities 9,398,610 9,024,525 - Fair Value Change 932,114 10,330, ,302 9,842,827 - Non-Participating Linked Group Policies -Linked Liabilities 841, ,541 - Fair Value Change 30, ,514 25, ,043 SURPLUS IN THE REVENUE ACCOUNT (POLICYHOLDERS' ACCOUNT) 973,989 - Sub-Total 181,979, ,684,086 FUNDS FOR FUTURE APPROPRIATIONS* 6,787,233 6,787,233 TOTAL 210,699, ,979,854 APPLICATION OF FUNDS INVESTMENTS Shareholders Investments L 12 26,561,262 27,110,541 Policyholders Investments L 13 80,078,122 72,921,376 ASSETS HELD TO COVER LINKED LIABILITIES L ,225, ,546,861 LOANS L , ,098 FIXED ASSETS L 16 1,171,840 1,256,908 CURRENT ASSETS Cash and Bank Balances L 17 1,161,648 3,620,530 Advances and Other Assets L 18 6,394,215 7,617,958 Sub-Total (A) 7,555,863 11,238,488 CURRENT LIABILITIES L 19 13,670,976 15,011,453 PROVISIONS L ,582 2,072,309 Sub-Total (B) 13,911,558 17,083,762 NET CURRENT ASSETS (C) = (A) (B) (6,355,695) (5,845,274) MISCELLANEOUS EXPENDITURE (to the extent not written off or adjusted) L DEBIT BALANCE IN PROFIT AND LOSS ACCOUNT (SHAREHOLDERS ACCOUNT) 2,693,344 2,693,344 Total 210,699, ,979,854 * Any transfer of surplus or deficit arising in the respective segmental Revenue Accounts (i.e. the PolicyHolder's Account) for the year will be transferred to or from the ShareHolder's Account post Financial Statements audit. CONTINGENT LIABILITIES Partly paid-up investments Claims, other than against policies, not acknowledged as debts by the company Underwriting commitments outstanding (in respect of shares and securities) Guarantees given by or on behalf of the Company Statutory demands/ liabilities in dispute, not provided for Reinsurance obligations to the extent not provided for in accounts Others TOTAL As at June 30, 2013 As at March 31, ,379 31,627-1,218 1,218 1,163,377 1,163,377-45,940 45,688 1,269,914 1,241,910 5

6 L-4-PREMIUM SCHEDULE For the Quarter Ended June 30th, 2013 Participating Policies (Non-Linked) Non-Participating Policies (Non-Linked) Linked Policies Individual Life Pension Individual Life Health Group Individual Life Pension Group Total First year premiums 2,170, ,206 5,275 73, ,852 (666) 54,395 3,020,578 Renewal premiums 4,595,047 4, ,931 10, ,760 3,890, ,440 2,225 9,411,707 Single premiums 467,067 1, ,710 35,374 22, ,202 Total premium 7,232,450 6, ,632 15, ,640 4,141, ,060 56,620 13,253,487 Business % 54.57% 0.05% 5.88% 0.12% 3.86% 31.25% 3.85% 0.43% % Total premium in India 7,232,450 6, ,632 15, ,640 4,141, ,060 56,620 13,253,487 Total Premium outside India For the Quarter Ended June 30, 2012 Participating Policies (Non-Linked) Non-Participating Policies (Non-Linked) Linked Policies Individual Life Pension Individual Life Health Group Individual Life Pension Group Total First year premiums 2,124, ,306 5,410 77, ,887 (192) 31,208 2,745,233 Renewal premiums 3,943,368 5, ,708 12,790 51,799 5,113, ,517 1,921 9,943,006 Single premiums 407,794 1, ,097 67,246 9, ,314 Total premium 6,475,461 6, ,014 18, ,211 5,469, ,172 33,129 13,441,553 Business % 48.17% 0.05% 2.99% 0.14% 2.95% 40.69% 4.76% 0.25% % Total premium in India 6,475,461 6, ,014 18, ,211 5,469, ,172 33,129 13,441,553 Total Premium outside India

7 L-5-COMMISSION SCHEDULE For the Quarter Ended June 30th, 2013 Participating Policies (Non-Linked) Non-Participating Policies (Non-Linked) Linked Policies Total Individual Life Pension Individual Life Health Group Individual Life Pension Group Commission paid Direct first year premiums 731, ,982 1, ,619 (61) - 879,720 Direct renewal premiums 220, , ,482 4, ,910 Direct single premiums , ,431 Total (A) 951, ,134 1,877 6,987 93,343 4, ,194,061 Add : Commission on Re-insurance Accepted Less : Commission on Re-insurance Ceded Net Commission 951, ,134 1,877 6,987 93,343 4, ,194,061 Break-up of commission expenses (gross) incurred to procure business is as per details below: Agents 363, ,058 1, ,606 4, ,734 Brokers ,006 Corporate Agency 144,912-11, , ,628 Referral Fees Others Bancassurance 443,367-74, ,080 17, ,612 Direct Selling Total (B) 951, ,134 1,877 6,987 93,343 4, ,194,061 For the Quarter Ended June 30, 2012 Participating Policies (Non-Linked) Non-Participating Policies (Non-Linked) Linked Policies Individual Life Pension Individual Life Health Group Individual Life Pension Group Total Commission paid Direct first year premiums 722,344-56,714 1,572 8,438 18, (17) 807,979 Direct renewal premiums 168, , ,549 7, ,690 Direct single premiums Total (A) 891, ,005 1,978 8, ,137 7,143 (15) 1,104,463 Add : Commission on Re-insurance Accepted Less : Commission on Re-insurance Ceded Net Commission 891, ,005 1,978 8, ,137 7,143 (15) 1,104,463 Break-up of commission expenses (gross) incurred to procure business is as per details below: Agents 444, ,111 1,937 1,083 47,217 6, ,102 Brokers 9, , (23) 18,542 Corporate Agency 143,702-13, , ,110 Referral Fees Others Bancassurance 292, , , ,519 Direct Selling Total (B) 891, ,005 1,978 8, ,137 7,143 (15) 1,104,463 7

8 L-6-OPERATING EXPENSES SCHEDULE For the Quarter Ended June 30th, 2013 Participating Policies (Non-Linked) Non-Participating Policies (Non-Linked) Linked Policies Individual Life Pension Individual Life Health Group Individual Life Pension Group Total Employees remuneration and welfare benefits 1,019, ,595 4,993 31, ,489 12, ,338,161 Travel, conveyance and vehicle running 80, , ,884 10, ,984 Training expenses (including Agent 22, , ,448 4, ,724 Rent, rates & taxes 135, , ,139 10, ,186 Repairs & Maintenance 45, , ,712 3, ,994 Printing and stationery 21, , , ,109 Communication expenses 51, , ,666 13,145 1, ,871 Legal, professional and consultancy charges 67, , ,730 5, ,449 Medical fees 5, ,074 Auditors' fees, expenses etc : (a) as auditor 1, ,550 (b) as advisor or in any other capacity, in (i) Taxation matters (ii) Insurance matters (iii) Management services; and (c) in any other capacity - Certification Out of pocket expenses Advertisement and publicity 191,312-31, ,529 5, ,190 Interest and bank charges 11, , , ,556 Others: - Rates and taxes 19, , , ,451 Service Tax Expenditure 8, , ,343 12, ,521 Information technology 60, , ,622 21,972 2, ,752 Board Meetings Recruitment (including Agent 15,002-2, (92) 261 (12) - 17,908 Electricity,water and utilities 47, , ,755 4, ,181 Insurance 13, , , ,893 Policy issuance and servicing costs 224, , ,107 6, ,964 (Profit)/Loss on fluctuation in (457) - (44) (1) (5) (348) (43) (1) (899) Other miscellaneous expenses 3, , ,192 Depreciation 71, , ,315 14,662 1, ,843 Total 2,116, ,721 9,817 80, ,402 39, ,969,952 8

9 L-6-OPERATING EXPENSES SCHEDULE For the Quarter Ended June 30, 2012 Participating Policies (Non-Linked) Non-Participating Policies (Non-Linked) Linked Policies Individual Life Pension Individual Life Health Group Individual Life Pension Group Total Employees remuneration and welfare benefits 1,034, ,324 3,984 45, ,191 11,142-1,298,605 Travel, conveyance and vehicle running 89, , ,271 11, ,812 Training expenses (including Agent 78, , ,410 6, ,682 Rent, rates & taxes 139, , ,082 11, ,897 Repairs & Maintenance 45, , ,323 3, ,067 Printing and stationery 5, ,459 Communication expenses 56, , ,297 16,008 1,658-79,798 Legal, professional and consultancy charges 50, , ,248 3,813-93,508 Medical fees 9, ,165 Auditors' fees, expenses etc : - (a) as auditor ,300 (b) as advisor or in any other capacity, in - (i) Taxation matters (ii) Insurance matters (iii) Management services; and (c) in any other capacity - - Certification Out of pocket expenses Advertisement and publicity 218,706-16, ,152 6, ,142 Interest and bank charges 13, , ,479 Others: - Rates and taxes 13, , ,670 Service Tax Expenditure 7, , , ,737 13, ,412 Information technology 54, , ,802 19,901 2,044-81,721 Board Meetings Recruitment (including Agent 26, , , ,461 Electricity,water and utilities 37, , ,871 3, ,790 Insurance 9, ,126 Policy issuance and servicing 219, , ,017 6, ,415 (Profit)/Loss on fluctuation in (1,217) (3) (77) (14) (8) (976) (106) - (2,401) Other miscellaneous expenses 1, ,362 Depreciation 87, , ,778 18,385 1, , Total 2,198, ,315 8,246 87, ,294 37, ,919,088 9

10 L-7-BENEFITS PAID SCHEDULE For the Quarter Ended June 30th, 2013 Participating Policies (Non-Linked) Non-Participating Policies (Non-Linked) Linked Policies Individual Life Pension Individual Life Health Group Individual Life Pension Group Insurance Claims * (a) By death 301,015 1,380 94, , ,609 3, ,508 (b) By Maturity 10,807 (635) - - 1, , , ,357 (c) Annuities/ Pension payment, (d) Other benefits --Surrenders 285,854 12,207 13,647-1,532 4,861, ,955-5,444,168 --Health - - 1,000 9, ,665 --Survival Benefit 96, ,066 --Bonus to Policyholders 571,722 1, ,992 --Others 16,298-1, , ,082 Total paid 1,281,754 14, ,014 9, ,857 5,249, ,484 40,831 7,102,838 (Amount ceded in reinsurance) : (a) By death (16,671) - (21,130) - (54,566) (33,332) - (163) (125,862) (b) By Maturity (c) Annuities/ Pension payment, (d) Other benefits Health - - (450) (4,982) (5,432) Total ceded (16,671) - (21,580) (4,982) (54,566) (33,332) - (163) (131,294) Amount accepted in reinsurance : (a) By death (b) By Maturity (c) Annuities/ Pension payment, (d) Other benefits Total accepted Net Paid 1,265,083 14,222 89,434 4,983 67,291 5,216, ,484 40,668 6,971,544 * Including claim investigation expenses amounting to Rs.2,365 Total 10

11 L-7-BENEFITS PAID SCHEDULE For the Quarter Ended June 30, 2012 Participating Policies (Non-Linked) Non-Participating Policies (Non-Linked) Linked Policies Total Individual Life Pension Individual Life Health Group Individual Life Pension Group Insurance Claims (a) By death 255,777 1,210 63, , ,015 8,624 1, ,995 (b) By Maturity 5, ,447 7,355 39, ,219 (c) Annuities/ Pension payment, (d) Other benefits - --Surrenders 260,944 3,824 16, ,472, , ,926,275 --Health , ,520 --Survival Benefit 136, ,488 --Bonus to Policyholders 466,764 1, ,095 --Others 4,106-2, , ,229 Total paid 1,129,913 6,365 82,427 9, ,534 3,771, ,458 41,459 5,338,821 (Amount ceded in reinsurance) : (a) By death (23,712) - (23,739) (200) (59,836) (19,117) - (183) (126,787) (b) By Maturity (c) Annuities/ Pension payment, (d) Other benefits Health - - (250) (4,493) (4,743) Total ceded (23,712) - (23,989) (4,693) (59,836) (19,117) - (183) (131,530) Amount accepted in reinsurance : (a) By death (b) By Maturity (c) Annuities/ Pension payment, (d) Other benefits Total accepted Net Paid 1,106,201 6,365 58,438 4,779 50,698 3,752, ,458 41,276 5,207,291 11

12 L-8-SHARE CAPITAL SCHEDULE As at June 30, 2013 As at March 31, 2013 Authorised Capital 3,000,000,000 Equity Shares of Rs 10 each (Previous Year: 3,000,000,000 Equity 30,000,000 30,000,000 Shares) Issued and Subscribed Capital 1,944,691,234 (2012: 1,944,691,234) Equity Shares of Rs 10 each 19,446,912 19,446,912 Called up Capital 1,944,691,234 (2012: 1,944,691,234) Equity Shares of Rs 10 each 19,446,912 19,446,912 Less: Calls unpaid - - Add : Shares forfeited (Amount originally paid up) - - Add : Shares application money pending allotment - - Less: Par value of equity shares bought back - - Less: Preliminary Expenses (to the extent not written off or adjusted) - - Total 19,446,912 19,446,912 L-9-PATTERN OF SHAREHOLDING SCHEDULE Shareholder As at June 30, 2013 As at March 31, 2013 Number of Shares of Rs 10 each fully paid up % of Holding Number of Shares of Rs 10 each fully paid up % of Holding Promoters Indian 1,381,621, % 1,381,621, % Foreign % 0.00% Foreign Shareholders 505,619, % 505,619, % Others 57,450, % 57,450, % Total 1,944,691, % 1,944,691, % 12

13 L-10-RESERVE AND SURPLUS SCHEDULE As at June 30, 2013 As at March 31, 2013 Capital Reserve 1,822,667 1,822,667 Capital Redemption Reserve - - Securities Premium - - Revaluation Reserve - - General Reserve 211,717 - Add: Transfer from Profit and Loss Appropriations 383, ,717 Less: Debit balance in Profit and Loss Account, if any - - Less: Amount utilised for Buy-back - - Catastrophe Reserve - - Other Reserves - - Balance of profit/ (loss) in Profit and Loss Account - - Total 2,417,609 2,034,384 L-11-BORROWINGS SCHEDULE As at June 30, 2013 As at March 31, 2013 Debentures/ Bonds - - Banks - - Financial Institutions - - Others - - Total

14 (FORMERLY KNOWN AS MAX NEW YORK LIFE INSURANCE COMPANY LIMITED) L-12-INVESTMENT SHAREHOLDERS SCHEDULE As at June 30, 2013 As at March 31, 2013 LONG TERM INVESTMENTS Government securities and Government guaranteed bonds including Treasury Bills 11,116,540 11,147,037 Other Approved Securities 2,732,796 2,669,779 Other Approved investments (a) Shares (aa) Equity 1,271,855 1,434,390 (bb) Preference Shares - - (b) Mutual Funds - - (c) Derivative Instruments - - (d) Debentures/ Bonds 2,311,380 2,556,759 (e) Other Securities Deposits with Bank 450, ,000 (f) Subsidiaries - - Investment Properties-Real Estate - - Investments in Infrastructure and Social Sector 6,039,697 6,084,114 Other Investments Debentures/ Bonds - - Equity Shares 150, ,864 SHORT TERM INVESTMENTS Government securities and Government guaranteed bonds including Treasury Bills 8,312 2,993 Other Approved Securities - - Other Approved investments (a) Shares - - (aa) Equity - - (bb) Preference Shares - - (b) Mutual Funds 597, ,840 (c) Derivative Instruments - - (d) Debentures/ Bonds 671, ,430 (e) Other Securities Commercial Paper - - Certificate of Deposits Deposits with Bank 809,076 1,059,076 Reverse Repo 22,952 - (f) Subsidiaries - - Investment Properties-Real Estate - - Investments in Infrastructure and Social Sector 379, ,970 Other Investments - - Total 26,561,262 27,110,541 Aggregate Amount of Investments other than listed equity securities and derivative instruments Aggregate Market Value of Investments other than listed equity securities and derivative instruments 24,953,718 25,301,784 25,628,381 25,467,693 14

15 (FORMERLY KNOWN AS MAX NEW YORK LIFE INSURANCE COMPANY LIMITED) L-13-INVESTMENT POLICYHOLDERS SCHEDULE As at June 30, 2013 As at March 31, 2013 LONG TERM INVESTMENTS Government securities and Government guaranteed bonds including Treasury Bills * 40,975,122 37,840,575 Other Approved Securities 7,563,493 7,459,684 Other Approved Investments (a) Shares (aa) Equity 3,064,773 3,143,387 (bb) Preference - - (b) Mutual Funds - - (c) Derivative Instruments - - (d) Debentures/ Bonds 6,991,231 6,559,821 (e) Other Securities Deposits with Bank 289, ,000 (f) Subsidiaries - - Investment Properties-Real Estate - - Investments in Infrastructure and Social Sector 18,222,397 14,867,446 Other Investments Debentures/ Bonds - - Equity Shares 346, ,336 SHORT TERM INVESTMENTS Government securities and Government guaranteed bonds including Treasury Bills 547, ,664 Other Approved Securities - - Other Approved Investments (a) Shares (aa) Equity - - (bb) Preference - - (b) Mutual Funds 764, ,664 (c) Derivative Instruments - - (d) Debentures/ Bonds 309, ,588 (e) Other Securities Commercial Paper - - Certificate of Deposits 584, ,094 Reverse Repo 200,000 - (f) Subsidiaries 49,573 28,413 Investment Properties-Real Estate - - Investments in Infrastructure and Social Sector - - Other Investments 169, ,704 Total 80,078,122 72,921,376 Aggregate Amount of Investments other than listed equity securities and derivative instruments 76,286,285 68,815,637 Aggregate Market Value of Investments other than listed equity securities and derivative instruments * Includes Rs 105,767(2013 : Rs 105,848) of securities under section 7 of Insurance Act, ,505,717 69,170,223 15

16 (FORMERLY KNOWN AS MAX NEW YORK LIFE INSURANCE COMPANY LIMITED) L-14-INVESTMENT-ASSETS HELD TO COVER LINKED LIABILITIES SCHEDULE As at June 30, 2013 As at March 31, 2013 LONG TERM INVESTMENTS Government securities and Government guaranteed bonds including Treasury Bills 7,208,462 5,931,678 Other Approved Securities 1,570,442 3,183,203 Other Approved Investments (a) Shares (aa) Equity 55,394,859 55,668,886 (bb) Preference - - (b) Mutual Funds - - (c) Derivative Instruments - - (d) Debentures/ Bonds 5,379,755 5,575,577 (e) Other Securities Deposits with Bank 95,000 95,000 (f) Subsidiaries - - Investment Properties-Real Estate - - Investments in Infrastructure and Social Sector 20,158,001 17,963,027 Other Investments Debentures/ Bonds 45,648 45,445 Equity Shares 4,291,148 4,170,434 SHORT TERM INVESTMENTS Government securities and Government guaranteed bonds including Treasury Bills 413, ,307 Other Approved Securities - - Other Approved investments (a) Shares (aa) Equity - - (bb) Preference - - (b) Mutual Funds 3,921,361 1,198,142 (c) Derivative Instruments - - (d) Debentures/ Bonds 676,302 1,281,478 (e) Other Securities Commercial Paper - 493,593 Certificate of Deposits 1,390, ,011 Deposits with Bank 2,660,000 3,550,000 Reverse Repo 426, ,924 (f) Subsidiaries - - Investment Properties-Real Estate - - Investments in Infrastructure and Social Sector 755,891 1,147,853 Other Investments 495,234 - Net Current Assets 1,342,328 2,395,303 Total 106,225, ,546,861 16

17 (FORMERLY KNOWN AS MAX NEW YORK LIFE INSURANCE COMPANY LIMITED) L-15-LOANS SCHEDULE As at June 30, 2013 As at March 31, 2013 SECURITY -WISE CLASSIFICATION Secured (a) On mortgage of property (aa) In India - - (bb) Outside India - - (b) On Shares, Bonds, Govt. Securities, etc. - - (c) Loans against policies 325, ,098 (d) Others - - Unsecured - - Total 325, ,098 BORROWER-WISE CLASSIFICATION (a) Central and State Governments - - (b) Banks and Financial Institutions - - (c) Subsidiaries - - (d) Companies - - (e) Loans against policies 325, ,098 (f) Others - - Total 325, ,098 PERFORMANCE-WISE CLASSIFICATION (a) Loans classified as standard (aa) In India 325, ,098 (bb) Outside India - - (b) Non-standard loans less provisions (aa) In India - - (bb) Outside India - - Total 325, ,098 MATURITY- WISE CLASSIFICATION (a) Short Term 2,850 3,396 (b) Long Term 322, ,702 Total 325, ,098 17

18 L-16-FIXED ASSETS SCHEDULE Gross Block As at April 1, 2013 Additions Sale/ Disposal As at June 30, 2013 As at April 1, 2013 For The Period On Sales /Disposal As at June 30, 2013 As at June 30, 2013 As at March 31, 2013 Intangibles - Software 1,414,604 88,205-1,502,807 1,046,080 44,219-1,090, , ,524 Leasehold improvements 1,069,728 1,824 8,083 1,063, ,170 22,340 4, , , ,558 Furniture and fixtures 337,870 1,571 1, , ,304 7, , , ,566 Information Technology equipment (Including communication networks and servers ) 1,111,255 1, ,112, ,124 15, , , ,131 Vehicles 52,896 1,871 6,553 48,214 22,773 2,369 4,798 20,345 27,869 30,123 Office equipment 438,466 7,049 2, , ,137 8,639 1, ,630 43,827 46,329 Total 4,424, ,562 18,066 4,508,313 3,391,588 99,843 11,066 3,480,367 1,027,946 1,033,231 Capital Work in Progress (including Capital advances) 143, ,677 Grand Total 4,424, ,562 18,066 4,508,313 3,391,588 99,843 11,066 3,480,367 1,171,840 1,256,908 Previous year ended March 31, ,255, , ,874 4,424,819 3,131, , ,822 3,391,588 1,256,908 - Depreciation Net Block 18

19 (FORMERLY KNOWN AS MAX NEW YORK LIFE INSURANCE COMPANY LIMITED) L-17-CASH AND BANK BALANCE SCHEDULE Cash [Including Insurance Stamp Rs 8,887 (Mar 2013 : Rs 791] As at June 30, ,390 As at March 31, ,566 Balances with banks in India (a) Deposit Accounts (aa) Short-term fixed deposit - - (bb) Others - - (b) Current accounts 1,078,258 3,463,964 [Including Remittances in Transit Rs 205,318 (Mar 2013: Rs )] (c) Others - - Money at Call and Short Notice (a) With Banks - - (b) With other Institutions - - Others - - Total 1,161,648 3,620,530 CASH & BANK BALANCES In India 1,161,648 3,620,530 Outside India - - TOTAL 1,161,648 3,620,530 L-18-ADVANCES AND OTHER ASSETS SCHEDULE ADVANCES As at June 30, 2013 As at March 31, 2013 Reserve deposit with ceding companies - - Application money for investments - - Prepayments 137, ,032 Advances to Directors / Officers - - Advance tax paid and taxes deducted at source (Net of provision for taxation) - 42,212 Others -Advances to suppliers 725, ,469 Less : Provision for doubtful expenses 33, ,909 34, ,789 -Advances to employees for imprest, travel, etc. 50,484 50,339 Less : Provision for doubtful expenses 19,978 30,506 18,298 32,041 Total (A) 859, ,074 OTHER ASSETS Income accrued on investments 2,851,088 2,793,714 Outstanding Premiums 1,818,638 3,128,566 Agents' Balances 70,140 72,281 Less : Provision for doubtful expenses 53,767 16,373 53,086 19,195 Foreign Agencies Balances - - Due from other entities carrying on insurance business (including reinsurers) 292, ,036 Due from subsidiaries / holding company - - Deposits with Reserve Bank of India (Pursuant to Section 7 of Insurance Act, 1938) - - Others: - Service Tax Unutilised Credit 132, ,729 - Security and other deposits 359, ,458 - Outstanding Trades - Investment 64, ,186 Total (B) 5,534,515 6,914,884 Total (C) = (A) + (B) 6,394,215 7,617,958 19

20 (FORMERLY KNOWN AS MAX NEW YORK LIFE INSURANCE COMPANY LIMITED) L-19-CURRENT LIABILITIES SCHEDULE As at June 30, 2013 As at March 31, 2013 Agents balances 2,268,243 2,444,359 Balance due to other insurance companies 345, ,196 Deposits held on reinsurance companies - - Premium received in advance - - Unallocated premium 447, ,240 Sundry creditors 4,110,351 3,778,843 Due to holding company 11,026 9,158 Claims Outstanding ( includes pending investigation )* 329, ,085 Annuities Due - - Due to Officers/ Directors - - Unclaimed Amount- Policyholders 1,780,014 2,130,571 Funds for Discontinued Policies: - Discontinued on account of non-payment of premium 485, ,806 Others: -Proposal / Policyholder deposits 576, ,482 -Payable to Policyholder 2,884,633 3,422,246 -Withholding Tax Deducted at Source 128, ,219 -Service Tax Liability 180, Other Statutory liabilities 28,480 28,713 - Payable for Purchase of Investments 95, ,535 Total 13,670,976 15,011,453 L-20-PROVISIONS SCHEDULE As at June 30, 2013 As at March 31, 2013 For taxation (less payments and taxes deducted at source) 27,833 - For proposed dividends - 1,594,647 For dividend distribution tax - 271,010 Others : - Provision for gratuity Provision for fringe benefit tax Provision for non compensated leaves 212, ,236 - Provision for wealth tax Total 240,582 2,072,309 L-21-MISC EXPENDITURE SCHEDULE As at June 30, 2013 As at March 31, 2013 Discount Allowed in issue of shares/ debentures - - Others - Deferred Employee Compensation - - Total

21 FORM L-22 ANALYTICAL RATIOS S.No. Quarter Ended June 30, 2013 Quarter Ended June 30, New business premium income growth rate (Current Period New Business Premium as a % of Previous Period New Business Premium) Individual Life - Participating 104% -16% Pension - Participating 96% 5% Individual Life - Non Participating 230% 403% Health Insurance 98% -13% Group 107% 16% Individual Linked 71% -30% Linked Pension 224% -94% Linked Group 174% 53% 2 Net Retention Ratio 98% 99% 3 Expense of Management to Gross Direct Premium Ratio 31% 30% 4 Commission Ratio (Gross commission paid to Gross Premium) 9% 8% 5 Ratio of policy holder's liabilities to shareholder's funds 389% 271% 6 Growth rate of shareholders' fund 2% 7% 7 Ratio of surplus to policyholders' liability 1% 3% 8 Change in net worth 2% 7% 9 Profit after tax/total Income 65% 32% 10 (Total real estate + loans)/(cash & invested assets) NA NA 11 Total investments/(capital + Surplus) 410% 336% 12 Total affiliated investments/(capital+ Surplus) NA NA 13 Investment Yield (Gross and Net) 11% 3% 14 Conservation Ratio Individual Life - Participating 77% 79% Pension - Participating 87% 100% Individual Life - Non Participating 69% 86% Health Insurance 57% 79% Individual Linked 78% 80% Linked Pension 78% 84% 15 Persistency Ratio For 13th month 78% 76% For 25th month 66% 63% For 37th month 48% 43% For 49th Month 33% 36% for 61st month 25% 30% 16 NPA Ratio Gross NPA Ratio NA NA Net NPA Ratio NA NA Equity Holding Pattern for Life Insurers 1 (a) No. of shares 1,944,691,234 1,944,691,234 2 (b) Percentage of shareholding (Indian / Foreign) - Indian 74% 74% - Foreign 26% 26% 3 ( c) %of Government holding (in case of public sector insurance companies) NA NA 4 (a) Basic and diluted EPS before extraordinary items (net of tax expense) for the period (not to be annualized) NA NA 5 (b) Basic and diluted EPS after extraordinary items (net of tax expense) for the period (not to be annualized) NA NA 6 (iv) Book value per share (Rs)