Anand

49th Annual Report
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MEMBERS OF THE CORPORATION
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Shri T. S. Vijayan,Chairman
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Shri V.P. Shetty
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Dr. Arvind Virmani
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Shri Vinod Rai
Shri D.K. Mehrotra
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Shri R.K. Joshi
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Shri A. Jayagovind
Shri Thomas Mathew T.
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Shri Amitav Kothari
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Smt. Pushpa Girimaji
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Shri Sunil Kant Munjal
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Dr.(Ms.) Swati Piramal
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Dr. Gautam Barua
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2
49th Annual Report
Senior Executives of the

Corporation as on 31.3.2006
Shri A. K. Shukla
Chairman
Shri S. K. Mitter
Ch. Executive (LIC HFL), Central Office
Shri T. S. Vijayan
Managing Director
Shri V. K. Sinha
ZM (I/C), ZO, Kanpur
Shri D. K. Mehrotra
Managing Director
Shri S. Viswanathan
Executive Director (Mktg./B&AC/MI), Central Office
Shri Thomas Mathew T.

Managing Director
Shri S. Sarker
Executive Director (Invt.), Central Office
Shri Amitabh
Executive Director (Mktg./SBU-IO/CC), Central Office
Shri A. K. Chatterjee
RM (E&OS), ZO, Kolkata
Shri R. Venugopal
Executive Director (P&GS), Central Office
Smt. Gopa Ray

C. V. O. (Depu), New India Ass. Co., Mumbai
Shri D. Krishnan
Executive Director (HRD/OD/CP), Central Office
Shri R. K. Rawat
RM (P&IR), ZO, Bhopal
Shri M. V. Suryanarayana
Executive Director (Audit), Central Office
Smt. S. Choudhury
Chief (HRD/OD/CP), Central Office
Shri M. K. Santhanam
Gen. Manager (Depu.), LIC (Intl) BSC (C), Bahrain
Smt. T. T. Mathew
Chief (CC), Central Office
Shri Ashok Shah

ZM(I/C), ZO, Delhi
Shri D. D. Singh
Joint Director, (MDC), Mumbai
Shri T. Chattopadhyay
ZM(I/C), ZO, Hyderabad
Shri Basavaraju
Principal, ZTC, Chennai
Shri S. Roy Chowdhury

Executive Director (Personnel), Central Office
Shri R. R. Dash
RM(P&IR), ZO, Mumbai
Shri R. R. Nair
Ch. Executive (Depu.), SIICO, Riyadh
Shri G. B. Pandey
RM (Mktg.), ZO, Kanpur
Shri N. Mohanraj
Ch. Executive (JBS AMC), Central Office
Shri A. K. Sahoo
RM (Mktg.), ZO, Hyderabad
Shri G. Prabhakara
ZM(I/C), ZO, Chennai
Shri B. N. Samal
Chief Executive (LIC HFL, Care Home), Central Office
Shri A. K. Dasgupta
ZM(I/C), ZO, Bhopal
Smt. S. P. Sukumar
Principal, ZTC, Hyderabad
Dr. H. Sadhak
Director, (MDC), Mumbai
Shri R. R. Rai
RM (P&IR), ZO, Delhi
Shri S. K. Kapahi
ZM(I/C), ZO, Mumbai
Shri S. L. Mundra
RM (Mktg.), ZO, Mumbai
Dr. H. C. Jain
Executive Director (CRM), Central Office
Shri R. L. Narasimhan
Chief (L&HPF), Central Office
Smt. D. Vijayalakshmi
Executive Director (OS/SBU-Estates), Central Office
Smt. Philomina Thomas

RM(P&IR), ZO, Chennai
Shri L. M. Lohani
ZM (I/C), ZO, Kolkata
Shri S. N. Gupta
Principal, ZTC, Agra
Shri R. V. Rao
Executive Director (Insp.), Central Office
Shri Kamalji Sahay

Chief (SBU-IO), Central Office
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4
49th Annual Report
Senior Executives of the

Corporation as on 31.3.2006
Shri K. B. Saha
FM, NIA, Pune
Shri P. Srinivasan
RM (E&OS), ZO, Chennai
Shri A. Kalyansundaram
Principal, ZTC, Akurdi
Shri P. Ramamoorthy
RM (P&IR), ZO, Kanpur
Shri G. N. Agarwal
Chief (Actl), Central Office
Shri D. Bommaiah
Chief (Mktg.-ULIP), Central Office
Shri S. K. Roy
RM(P&IR), ZO, Kolkata
Shri D. K. Chakraborty
RM (E&OS), ZO, Kanpur
Shri V. K. Sharma
RM (Mktg.), ZO, Kolkata
Shri S. N. Bhattacharya
RM (Mktg.), ZO, Delhi
Shri V. Manickam
Chief (Invt), Central Office
Shri Janak Kumar

RM (E&OS), ZO, Hyderabad
Shri S. Hariharan
RM (E&OS), ZO, Delhi
Shri V. K. Kukreja
Smt. Vasumathi S. Kumar

C.V.O. (Depu), United India Ins. Co. Chennai
Shri H. C. Mishra
Gen. Manager (JBS AMC), Central Office
Shri B. Manivannan
RM (Mktg.), ZO, Chennai
Shri P. K. Rath
Gen. Manager (LIC HFL), Central Office
Smt Usha Sangwan

Principal, ZTC, Gurgaon
Shri M. V. K. Bhukta
RM (Mktg.), ZO, Hyderabad
Shri S. B. Mainak
Kum S. S. Dikhale
FM, NIA, Pune
Shri A. P. Singh
MD & CEO (Depu), LIC Nepal Ltd.
Shri Ram Babu

Principal, ZTC, Bhopal
Shri Rajesh Kandwal

RM (Mktg.), ZO, Kolkata
Shri V. J. Singh
RM (E&OS), ZO, Mumbai
Shri S. C. Rathi
Chief (F&A), Central Office
Shri Surindra Singh Meena

RM (Mktg.), ZO, Bhopal
Shri D. Tarafdar
Chief (IT/BPR), Central Office
Smt. Sunita Sharma

Chief (Personnel), Central Office
Shri H. Bhargava
Chief (Micro Ins), Central Office
Shri A. Mukherjee
Executive Director (Engg.), Central Office
Shri S. B. Das
Principal, ZTC, Kolkata
Shri V. P. Rajamurthi
Chief Engineer (Engg.), ZO, Chennai
Shri R. Munirathnam
RM (P&IR), ZO, Hyderabad
Shri D. K. Aggarwal
Chief Engineer (Engg.), ZO, Delhi
Shri N. B. Sathe
Chief (SBU-P&GS), Central Office
Shri K. P. Bhat
Chief Engineer (Engg.), ZO, Hyderabad
Shri B. Venugopal
Chief (IT/BPR), Central Office
Shri P. K. Moulik
Chief Engineer (Engg.), ZO, Kolkata
Shri V. Sah
RM(Mktg.), ZO, Mumbai
Shri A. C. Bhatia
Chief Engineer (Engg.), ZO, Bhopal
Shri S. Srivastava
Gen. Manager (LIC HFL/Persl.), Central Office
Shri Amit Yadav

Chief Engineer (Engg.) ZO, Kanpur
Shri Dilip Ticku

RM (E&OS), ZO, Bhopal
Smt. Tripti D. Mandlekar

Chief Architect (Engg.), Central Office

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6
49th Annual Report

CONTENTS
Page
1.
PREAMBLE
11
2.
ECONOMIC SCENARIO
11
3.
IMPACT OF MACRO-ECONOMIC ENVIRONMENT ON LIFE INSURANCE BUSINESS
13
4.
WORKING RESULTS
13
New Business - Individual Assurance, General Annuities, Pensions, Unit Linked Bima Plus Business, Future
Plus, Jeevan Plus, Group Insurance Business, Social Security Schemes, First Insurance, Rural Thrust, Alternate
Channels, Product Development
Business In Force In Various Segments Individual Assurances, General Annuities, Pensions,
Unit Linked Bima Plus, Future Plus Business, Jeevan Plus, Group Insurance Business
5.
CAPITAL REDEMPTION AND ANNUITY CERTAIN BUSINESS
15
6.
STATUTORY STATEMENTS REGARDING POLICIES
15
7.
LIFE FUND, SURPLUS AND TAXES PAID
15
8.
INVESTMENTS AND SOCIAL RESPONSIBILITIES
15
9.
MARKETING ACTIVITIES
17
Offices in India, Foreign Operations LIC (International) BSC (C), Bahrain, L.I.C (Nepal) Ltd.,
LIC (Lanka) Ltd.
10.
AGENTS Agents Club Membership, Career Agents Scheme
17
11.
DIVERSIFIED ACTIVITIES
19
LIC HFL, LIC HFL Care Homes Ltd., LIC Mutual Fund Asset Management Company Ltd.
12.
POLICY HOLDERS SERVICING
19
Settlement of Claims, Customers Grievance Redressal

13.
CORPORATE COMMUNICATIONS ACTIVITIES
21
14.
PERSONNEL & EMPLOYEE RELATIONS
21
Staff Strength, Employee Relation, Recruitment, Empowerment of Women, Reservation of Scheduled Castes,
Scheduled Tribes and Other Backward Classes, Ex-Servicemen Employees, Persons with Disabilities, Sports Activity.
15 (a)
HRD/OD INITIATIVES/TRAINING STATISTICS
23
Training Profile, Training of Field Personnel

15 (b)
MANAGEMANT DEVELOPMENT CENTRE
23
16.
OFFICIAL LANGUAGE IMPLEMENTATION
23
17.
ENGINEERING ACTIVITIES
25
18.
ESTATES Housing Loan to Employees
25
19.
INFORMATION TECHNOLOGY INITIATIVES
25
20.
INTERNAL AUDIT
25
21.
INSPECTION
25

22.
meleke&lee
24
23.
veeefcele efveosMeke
24
24.
keeheexjs DeefYeMeemeve
24
25.
yees[& keer yew"keW
26
26.
kesvere eyebOeve meefceefle
26
27.
#esef$ee meuenekeej yees[&
26
28.
hee@efuemeer Oeejke heefj<eo
26
29.
peerJeve yeercee efveiece DeefOeefveece kes Devleie&le efveoxMe
26
30.
uesKee hejer#eke
26
31.
efJeeere Je<e& 2006-07 kes efueS eespevee
26
32.
DeeYeej eoMe&ve
heefjefMe
efveiece kes meome, keee&keejer meefceefle, efveJesMe meefceefle, YeJeve meueenkeej meefceefle,
Debkes#eCe meefceefle, GheYeeskelee keejesyeej meefceefle, #es$eere meueenkeej yees[&,
yeerceeOeejer heefj<eo kes meomeieCe SJeb meebefJeefOeke (kesvere) uesKee hejer#eke
uesKee
uesKee heefj#ekeeW keer efjhees&
44
58
peerJeve JeJemeee
efJeeere efJeefJejCe (KeC[ere)
legueve-he$e Yeejle SJeb Yeejle kes yeenj mebye SJeb Demebye JeJemeee mes mebyeefOele
jepemJe uesKee Yeejle SJeb Yeejle kes yeenj mebye SJeb Demebye JeJemeee mes mebyeefOele (menYeeieer SJeb iewj menYeeieer)
ueeYe-neefve Keelee Yeejle SJeb Yeejle kes yeenj mebye SJeb Demebye JeJemeee mes mebyeefOele DevegmetefeeeB pees efJeeere efJeJejCeeW kes DebieYetle nQ
(DevegmetefeeeB 1 mes 15 leke) efJeeere efJeJejCeeW kee meejebMe
efJeeere efJeJejCeeW kee meejebMe
Devegheele
eeefhle SJeb Yegieleeve uesKee (vekeo eJeen efJeJejCe)
62
64
68
70
112
114
116
hetBpeer ceeseve (efveOee&efjle Jeeef<e&keer meefnle) yeercee JeJemeee

legueve he$e
jepemJe uesKee
ueeYe neefve uesKee
DevegmetefeeeB pees efJeeere efJeJejCeeW kes DebieYetle nQ (DevegmetefeeeB 1 mes 4,6,8 Deewj 11 mes 13 leke)
118
120
122
124
49th Annual Report

22.
VIGILANCE
25
23.
NOMINEE DIRECTORS
25
24.
CORPORATE GOVERNANCE
25
25.
BOARD MEETINGS
27
26.
CENTRAL MANAGEMENT COMMITTEE
27
27.
ZONAL ADVISORY BOARD (ZAB)
27
28.
POLICYHOLDERS COUNCIL (PHC)
27
29.
DIRECTION UNDER LIC ACT
27
30.
AUDITORS
27
31.
PLANS FOR FINANCIAL YEAR 2006-07
27
32.
ACKNOWLEDGEMENT
27
APPENDIX
44
Members of the Corporation, Executive Committee, Investment Committee,

Buildings Advisory Committee, Audit Committee, Consumer Affairs Committee,
Zonal Advisory Boards, Policyholders Councils and Statutory (Central) Auditors
ACCOUNTS
Auditors Report
59
LIFE BUSINESS
Financial Statements (Segmental)
Balance Sheet - Non Linked and Linked in respect of Business in India and Out of India
Revenue Account - Non Linked and Linked in respect of Business in India and Out of India
(Participating and Non Participating)
Profit and Loss Account - Non Linked and Linked in respect of Business in India and Out of India
Schedules forming a part of the Financial Statements (Schedule 1 to 15)
Summary of Financial Statements
Ratios
Receipts and Payment Account (Cash Flow Statement)
64
68
70
112
114
116
CAPITAL REDEMPTION (INCLUDING ANNUITY CERTAIN) INSURANCE BUSINESS

Balance Sheet
Revenue Account
Profit & Loss Account
Schedules forming part of the Financial Statements (Schedules 1 to 4, 6, 8 & 11 to 13)
118
120
122
124
62
1. DeecegKe
jepekees<eere efmLeefle
Yeejleere peerJeve yeercee efveiece kees 31.3.2006 kees meceehle efJeeere Je<e& kes efueS peerJeve
yeercee efveiece DeefOeefveece, 1956 keer Oeeje 27 kes Devleie&le Deheveer 49Jeer Jeeef<e&ke efjhees&
emlegle kejves ceW n<e& nes jne nw ~
Je<e& 2005-06 ceW jepekees<eere veerefle, jepekees<eere meceskeve kes ceeie& hej eueles ngS
DeeefLe&ke Je=ef, mLeeefelJe Deewj FefkeJeer kes GodosMeeW keer eeefhle ceW eeemejle jner ~
efHej Yeer, pewmee efke Devebeflece Keeles oMee&les nw, keW Deheves mekeue jepekees<eere Iees kees
Deheves yepe ceW efkeS ieS eeJeOeeve kes mlej leke (mekeue Iejsuet Glheeo kes eefleMele kes
he ceW) yeveeS jKe mekee, eeefhe jepemJe Ieee Deewj eeLeefceke Ieee (mekeue Iejsuet
Glheeo kes eefleMele kes he ceW) yepe Devegceeve mes veeres jns ~ yepe Devegceeve kes 10.1
eefleMele keer leguevee ceW, hegvejeref#ele Devegceeve ceW jepemJe eeefhleeeB mekeue Iejsueg Glheeo kes
9.9 eefleMele ngF&, pees kece kejslej jepemJe (yepe mlej mes 4.4 eefleMele kece) kes
keejCe Je<e& 2005-06 ceW yepe mlej hej 0.8 eefleMele keer keceer efoKeeleer nw ~ otmejer
lejHe, mekeue kej jepemJe yepe Devegceeve ceW ueieYeie Gmeer mlej hej jner peyeefke meercee
Meguke, mesJee kej leLee veS kejeW keer Gelece Jemetueer kes keejCe efveiece kej, efvepeer
Deeekej Deewj Glheeo Meguke ceW ngF& keceer efJemLeeefhele ngF& ~ 2005-06 ceW hegvejeref#ele
Devegceeve ceW kegue Keex yepe mlej mes 1.1 eefleMele kece Les, pees cegKele yeepe
Yegieleeve, jepe kees Devegoeve, Keee meneefekeer leLee megj#ee kes DeOeerve iewj hueeve Keex
ceW mebheer[ve kes keejCe Les ~ mejkeej ves Dee[byejhetCe& Kee& mes yeeves keer DeeJeMekelee hej
peesj [euee ~ kejslej Deee kes ceeceues ceW, Gheeeskelee eYeejeW keer mecee mes Gieener kejves
keer DeeJeMekelee hej Yeer peesj [euee Lee ~
efveiece kes meomeeW leLee Je<e& kes oewjeve Fmekeer efJeefYevve meefceefleeeW kes meomeeW kes veece
heefjefMe ceW nw ~
2. DeeefLe&ke heefjJesMe
mekeue Iejsuet Glheeo (me.Ie.G.)
2005-06 kes jepekees<eere Je<e& kes oewjeve Yeejleere DeLe&JeJemLee ves meg{ Je=ef peejer
jKeer efpemes efvejblej efJeefvecee&Ce, ieefleefJeefOe Deewj mesJee #es$e kes eYeeJeMeeueer keee& efve<heeove
mes yeue efceuee, meeLe ner ke=ef<e ieefleefJeefOe ceW megOeej mes mecegefele meceLe&ve efceuee ~ keWere
meebefKekeere mebie"ve (meer.Sme.Dees.) eje peejer efkeS ieS mebMeesefOele DevegceeveeW kes
Devegmeej, JeemleefJeke mekeue Iejsuet Glheeo (peer[erheer) 2005-06 ceW 8.4 eefleMele ye{er
pees 2004-05 keer 7.5 eefleMele keer Je=ef mes DeefOeke Leer ~ Fme ekeej efheues leerve Je<eeX
ceW JeemleefJeke peer[erheer kee Deewmele 8 eefleMele mes Thej nes ieee nw efpemeves osMe keer
mebYeeefJele Glheeove Je=ef ceW efe kees hegve: Glhevve efkeee ~
Je=ef kee #es$eere efJelejCe en metefele kejlee nw efke ke=ef<e Deewj mebye ieefleefJeefOeeeW ves,
2004-05 keer 0.7 eefleMele keer keceer ceW megOeej kejles ngS, 2005-06 ceW 3.9 eefleMele
keer Je=ef ope& keer; peye efke Geesie #es$e ceW; 2004-05 keer 7.4 eefleMele keer leguevee ceW,
2005-06 ceW 7.6 eefleMele keer Je=ef ope& keer ~ hejbleg meyemes cenlJehetCe& mesJee #es$e ceW
2004-05 keer 10.2 eefleMele keer leguevee ceW, 2005-06 ceW 10.3 eefleMele keer Je=ef
jner ~ Fme ekeej mesJee #es$e 2005-06 kes oewjeve Je=ef kee cegKe mebeeueke jne,
efpemeves mecee JeemleefJeke mekeue Iejsuet Glheeo Je=ef ceW 60.7 eefleMele kee eesieoeve
efkeee ~
mesJee #es$e kee cepeyetle eoMe&ve cegKe he mes Jeeheej, nesue, heefjJenve Deewj mebeej kes
keejCe Lee efpemeves Fme #es$e keer Je=ef ceW ueieYeie DeeOee eesieoeve efoee ~
efJeehees<eCe, yeercee, Yetefce-YeJeve Deewj keejesyeej mesJeeDeeW ceW Je=ef kees yeQke $e+Ce leLee
peceeDeeW ceW ueieeleej ye{esejer Deewj yeercee ieefleefJeefOe kes eieefleMeerue efJemleej leLee mee@HeJesej
Deewj Deve keejesyeejer mesJeeDeeW kes efveee&le ceW efvejblej DeefOekelee mes ueeYe ngDee ~
mekeue Iejsuet yeele (peer[erSme)
Jele&ceeve yeepeej cetue hej peer[erheer kes eefleMele kes he ceW mekeue Iejsuet yeele (peer[erSme)
2003-04 ceW 28.9 eefleMele mes 2004-05 ceW 29.1 eefleMele ye{er ~ meeJe&peefveke #es$e
keer yeele, meeJe&peefveke eeefOekeeefjeeW eje DeefOeke $e+Ceelceke yeele kejves Deewj iewj
efJeYeeieere GeceeW ceW Je=ef kes keejCe 2003-04 ceW peer[erheer kes 1.0 eefleMele mes 200405 ceW 2.2 eefleMele ye{er ~ efvepeer kebheveer yeele oj ceW ye{eslejer ngF& pees Ge eefleOeeefjle
Deee oMee&leer nw ~ otmejer lejHe, Iejsuet #es$e keer yeele ceW keg efiejeJe efoKeer eeefhe
en #es$e kegue yeeleeW kee ye[e DebMeoeve kejves Jeeuee yevee jne, efpemekee efnmmee 200405 ceW leerve eewLeeF& mes DeefOeke jne ~
mekeue Iejsueg Geesie (meIeG) ceW Iejsuet #es$e keer efJeeere yeele kee efnmmee 2004-05 kes
14 eefleMele keer leguevee ceW 2005-06 ceW 16.7 eefleMele Lee ~ peceejeefMeeeB leLee Mesej
Deewj ef[yeWej kee efnmmee eceMe: 5.2 eefleMele mes 7.9 eefleMele Deewj 0.2 eefleMele mes
0.8 eefleMele leke ye{e ~ neueeBefke efJeeere #es$e ceW peerJeve yeercee efveefOeeeW kee Devegheele
2004-05 kes 15.1 eefleMele mes 2005-06 ceW 13.5 eefleMele leke kece ngDee, yeercee
efveefOe kee efnmmee 2004-05 kes 2.2 eefleMele mes 2005-06 kes 2.4 eefleMele leke ye{
ieee ~ mejkeej hej oeJeeW kee efnmmee 2004-05 kes 3.4 eefleMele mes 2005-06 kes 2.5
eefleMele kece ngDee ~ YeefJe<e efveefOe SJeb heWMeve efveefOeeeB 2004-05 kes 1.8 eefleMele mes
2005-06 kes 1.7 eefleMele leke kece ngF& ~
ceewefke efmLeefle
Je<e& 2005-06 kes oewjeve ceewefke leLee eueefveefOe efmLeefle ye[er cee$ee ceW menpe jner,
neueebBefke 2005-06 kes Debeflece eej ceefnveeW kes oewjeve eueefveefOe efmLeefle ceW Lees[er
efkeuuele ngF& efpememes Fbef[ee efceefueefveece ef[heeefpe (DeeF Sce [er) kes MeesOeve kee Demej
DebMele: eefleefyebefyele ngDee ~ FmeerefueS, efjpeJe& yeQke ves yeepeej efmLejerkejCe eespevee (Sce
Sme Sme) ceW vejceer efueefkeJe[erer De[pemceW Hesmeerueerer (Sue S SHe) efjhees heefjeeueve
leLee keW mejkeej keer eefleYetefleeeW ceW keg efvepeer huesmeceW ceW eueefveefOe [eueves kee
keee& efkeee ~ meeLe ner, 31 ceee& 2006 kees Jeeheke cege (Sce3) ceW meeueevee 16
eefleMele keer Je=ef ngF&; pees Jeeef<e&ke veerefle ceW Devegceeefvele 14.5 eefleMele keer efveoxMeke
Je=ef mes DeefOeke Leer ~
cegemHeerefle
cegemHeerefle, pees Leeske cetue metekeebke ([yuet heer DeeF&) ceW ieefle hej DeeOeeefjle nw,
Ske meeue henues 5.1 eefleMele keer leguevee ceW Iekej ceee& 2006 kes Deble ceW 4.0
eefleMele nes ieF& ~ Ske meeue henues 6.4 eefleXle keer leguevee ceW Je<e& 2005-06 kes oewjeve
Deewmele Leeske cetue metekeebke cegemHeerefle oj kece neskej 4.5 eefleMele nes ieF& ~ Leeske
cetue metekeebke cegemHeerefle (meeueevee) 1 Deewue 2006 kees 3.5 eefleMele Leer ~ Deeweesefieke
keeceieejeW keer GheYeeskelee cetue Je=ef (meer heer DeeF& - Deee [yuet) 5.0 eefleMele Leer ~
FefkeJeer Deewj $e+Ce yeepeej

Je<e& 2005-06 kes oewjeve hetbpeer yeepeej ceW Geue Deeee ~ meeJe&peefveke efveie&ceeW, eeFJes
huesmeceW leLee etjes efveie&ceeW kes peefjS Yeejleere kebheefveeeW eje pegeS ieS mebmeeOeveeW ceW
GuuesKeveere Je=ef ngF& ~ efJeefYevve eespeveeDeeW kes ceeOece mes cetegDeue Heb[eW eje Yeer
DeefOeke mebmeeOeve pegeS ieS efleereke yeepeej ceW Yeer Je<e& 2005-06 kes oewjeve heee&hle
ueeYe ope& efkeee ieee Deewj Je<e& 2006-07 kes eejbefYeke Yeeie ceW yeWeceeke& metekeebke Deye
leke kes meyemes TBes mlej hej jne ~ efJeosMeer mebmLeeiele efveJesMekeeW Deewj Iejsuet heejmheefjke
efveefOeeeW eje ye[er cee$ee ceW efkeS ieS efveJesMeeW, meblegefuele meceef DeeefLe&ke yegefveeeoeW,
Devegketue efveJesMe JeeleeJejCe Deewj keeheexjs #es$e ceW Dee ueeYe ope& efkeS peeves kes
keejCe Mesej yeepeej ceW Geue yevee jne ~
10
49th Annual Report

1. PREAMBLE
The Life Insurance Corporation of India has pleasure in presenting its 49th
Annual Report under Section 27 of the Life Insurance Corporation Act
1956 in respect of the financial year ending 31.3.2006.
The names of the members of the Corporation and its various committees
during the year are given in Appendix.
2. ECONOMIC SCENARIO
Gross Domestic Product (GDP)
Indian economy continued to record strong growth during the fiscal year
2005-06, backed by sustained manufacturing activity and impressive
performance of the service sector with reasonable support from the recovery
in agricultural activity. According to the revised estimates of Central
Statistical Organisation (CSO), the Real Gross Domestic Product (GDP)
increased by 8.4 per cent during 2005-06 as against growth of 7.5 per
cent in 2004-05. Thus, real GDP growth has averaged at above 8 per cent
in the past three years, reviving interest in the countrys potential output
growth.
Sectoral Distribution of Growth indicates that agriculture and allied activities
registered a growth of 3.9 per cent during 2005-06, recovering from a low
of 0.7 per cent in 2004-05 while Industrial Sector registered a growth of
7.6 per cent in 2005-06 as against 7.4 per cent in 2004-05. Most significant,
however, was the growth in Services Sector which recorded increase of
10.3 per cent during 2005-06 as against 10.2 per cent in 2004-05. The
services sector thus remained the key driver of growth during 2005-06,
contributing almost 60.7% to the overall real GDP.
Robust performance of Services Sector was led mainly by trade, hotels,
transport & communication which contributes almost one half of the sectors
growth.
Growth in financing, insurance, real estate & business services benefited
from sustained growth in bank credit & deposits, progressive expansion of
insurance activity and continued buoyancy in exports of software & other
business services.
Gross Domestic Saving (GDS)

Gross Domestic Saving (GDS), as per cent of GDP at current market prices,
increased to 29.1% in 2004-05 from 28.9 per cent in 2003-04. Public Sector
saving improved to 2.2% in 2004-05 from 1.00 per cent of GDP in 2003-04
due to lower dis-saving by Public authorities as well as increase in savings
of non departmental enterprises. Private corporate saving rate improved,
reflecting higher retained earnings. Savings of the household sector on
the other hand recorded some decline, although the sector continued to
be the major contributor to the total savings, with its share remaining at
more than 3/4th of Domestic Savings in 2004-05.
Share of the Financial Savings of the household sector (Gross) in GDP
was 16.7 per cent in 2005-06 as against 14 per cent in 2004-05. The
share of deposits, shares & debentures increased to 7.9 per cent from 5.2
per cent and to 0.8 per cent from 0.2 per cent respectively. Though
proportion of Life Insurance Fund in financial saving decreased to 13.5%
in 2005-06 from 15.1 per cent in 2004-05 share of Insurance fund increased
to 2.4 per cent in 2005-06 from 2.2 per cent in 2004-05. Share of claims
on govt. decreased to 2.5 per cent in 2005-06 from 3.4 percent in 200405. Share of Provident and pension funds decreased to 1.7 per cent of
GDP in 2005-06 from 1.8 per cent in 2004-05.
11
Fiscal Position
Fiscal policy continued to pursue the objectives of economic growth, stability
and equity in 2005-06 while staying on the course of fiscal consolidation.
The provisional accounts indicate that the Centre could contain revenue
deficit (as per cent to GDP) at its budgeted level while gross fiscal deficit
and primary deficit (as per cent to GDP) turned out to be below the budget
estimates. Revenue receipts in the revised estimates are placed at 9.9 per
cent of GDP as compared with 10.1 per cent in budget estimates, showing
a shortfall of 0.8 per cent over the budgeted level for 2005-06 on account
of lower non-tax revenue (4.4 per cent less than the budgeted level). The
gross tax revenue, on the other hand, remained almost at the same level
as in the budget estimates as the shortfalls in the corporation tax, personal
income tax and excise duties were offset by higher collections from customs
duties, service tax and new taxes. Aggregate expenditure in the revised
estimates for 2005-06 was 1.1 per cent lower than the budgeted level,
mainly on account of compression in non-Plan expenditure under interest
payments, grants to states, food subsidy and defence. The Government
stressed upon the need to avoid ostentatious expenditure. In case of nontax revenues, the need for timely collection of various user charges was
also emphasized.
Monetary Conditions
Monetary and liquidity conditions remained largely comfortable during 200506 although there was some tightness in liquidity conditions during the last
four months of 2005-06 reflecting partly the impact of the redemption of
India Millennium Deposits (IMDs). The Reserve Bank, therefore, injected
liquidity through unwinding of the Market Stabilisation Scheme (MSS) and
repo operations under the liquidity adjustment facility (LAF) along with
some private placement of Central Government securities. Concomitantly,
the year-on-year (y-o-y) broad money (M3) growth as on March 31, 2006
at 16.2 per cent was above the indicative growth of 14.5 per cent projected
in the Annual Policy .
Inflation
Inflation, based on movement in the wholesale price index (WPI), was 4.0
per cent as at end-March 2006 as compared with 5.1 per cent a year ago.
The average WPI inflation rate eased to 4.5 per cent during 2005-06 from
6.4 per cent a year ago. WPI inflation (y-o-y) was 3.5 per cent as on April
1, 2006.Consumer price inflation for industrial workers (CPI-IW) was 5.0
per cent
Equity and Debt Market

The capital market exhibited buoyancy during 2005-06. Resources raised
by the Indian corporates through public offerings, private placements and
euro issues increased significantly. Resource mobilization by mutual funds
through various schemes also increased sharply. The secondary market
registered sharp gains during 2005-06 and continued to surge during early
part of 2006-07 with the benchmark indices recording all time high levels.
Large investments by foreign institutional investors (FIIs) and domestic
mutual funds on the back of robust macroeconomic fundamentals, congenial
investment climate and strong corporate profitability buoyed the stock
markets.

Je<e& 2005-06 kes oewjeve Mesej yeepeej ves Deye leke kes Gelej mlej hej hengbes
metekeebke kes DeeOeej hej lespeer yeveeeer jKeer ~ Je<e& 2005-06 kes oewjeve cetegDeue
Heb[eW eje pegeS ieS efveJeue mebmeeOeveeW ceW lespeer mes Je=ef ngF& efpemeceW FefkeJeer GvcegKe
eespeveeDeeW kes Debleie&le Gelej DevleJee&n eOeeve Les Deewj pees GlmeenJeOe&ke efleereke
yeepeej ceW Deeke<e&ke eefleHeue kes keejCe efveJesMeke keer efe kees oMee&les nQ ~ Fme lejn
mes, heejmheefjke efveefOeeeW keer efveJeue Deeefmle ceee& 2005 keer meceeefhle kes mecee kes
mekeue Iejsuet Glheeo kes 4.8 eefleMele keer leguevee ceW ye{kej ceee& 2006 keer meceeefhle hej
peer[erheer keer 6.6 eefleMele nes ieeer ~
yeee #es$e
[eejskejs pevejue Dee@He keceefMe&eue Fberueerpebme De@v[ msermerkeme ([erpeermeerDeeF&
De@v[[ Sme) kes Devegmeej, Yeejle ves Ske Je<e& henues kes 26.4 eefleMele Je=ef kes meeLe Je<e&
2005-06 ceW 24.7 eefleMele keer Yeejer Je=ef ope& keer ~ efveee&le Je=ef ceess leewj hej
cegKe Jemleg #es$e leLee eespeveeDeeW ceW Hewueer ngF& Leer ~
DeefYeeebef$ekeer ceeue, kehe[s, jmeeeve, jlve Deewj DeeYet<eCe leLee hesêsefueece Glheeo
efveee&le Je=ef kes cegKe mebeeueke jns ~ Je<e& 2005-06 kes oewjeve Deeeele ceW 31.5
eefleMele keer Yeejer Je=ef ngF&, pees lesue Deewj iewmlesue Deeeele kes keejCe Leer ~ GlheYeeJeke
DeLe&JeJemLee kes heefjJesMe ceW Yeejle kee efJeosMeer cege Yeb[ej ceee& 2005 kes Deble ceW 10.1
efyeefueeve Decejerkeer [euej ye{kej ceee& 2006 kes Deble ceW 151.6 efyeefueeve Decejerkeer
[euej hej hengBe ieee ~
Yeejle GYejleer yeepeej DeLe&JeJemLeeDeeW kes yeere Deblejjeêre cege Yeb[ej jKevesJeeuee
heebeJee meyemes ye[e osMe Deewj efJeMJe ceW "e meyemes ye[e osMe nes ieee ~
yeercee #es$e
efJeehees<eCe, yeercee, Yetefce-YeJeve Deewj keejesyeej mesJeeDeeW ceW Je=ef kees yeQke $e+Ce leLee
peceeDeeW ceW ueieeleej ye{esejer Deewj yeercee ieefleefJeefOe kes eieleerMeerue efJemleej leLee mee@HeJesej
Deewj Deve keejesyeejer mesJeeDeeW kes efveee&le ceW efvejblej DeefOekelee mes ueeYe ngDee ~
neueeBefke efJeeere #es$e ceW peerJeve yeercee efveefOeeeW kee Devegheele 2004-05 kes 15.1
eefleMele mes 2005-06 ceW 13.5 eefleMele leke kece ngDee, yeercee efveefOe kee efnmmee 200405 kes 2.2 eefleMele mes 2005-06 kes 2.4 eefleMele leke ye{ ieee ~
kej oer heefjCeecemJehe kesvere leLee jepe mejkeejer eefleYetefceeeW kes eefleHeue ceW Je=ef
ngF& efJe<esMekej 10 Je<eeae ceeveke kesv mejkeej eefleYetefleeeW kee eefleHeue pees 31.3.2005
kees 6.65 Lee, 31.3.2006 kees ye{kej 7.52 nes ieee ~ yeepe ojes ceW ye{esejer kes
keejCe efveiece kes meYeer efveJesMees hej eefleHeue ye{ves ces ceoo efceueer ~
4. keee& heefjCeece
veJe JeJemeee
Jeefkeleiele yeercee
Jeefkeleiele yeercee hees&Heesefueees kes Devleie&le 3 Je<eeX kee veJe JeJemeee meejCeer meb. 1S cebs
efoee ieee nw ~
meeceeve Jeeef<e&keer
meeceeve Jeeef<e&keer hees&Heesefueees kes Devleie&le 3 Je<eeX kee veJe JeJemeee meejCeer meb. 1S
cebs efoee ieee nw ~
heWMeve
heWMeve hees&Heesefueees kes Devleie&le 3 Je<eeX kee veJe JeJemeee meejCeer meb. 1S ceW efoee ieee
nw ~
etefve efuebke JeJemeee
yeercee hueme
yeercee hueme hees&Heesefueees kes Devleie&le 3 Je<eeX kee veJe JeJemeee meejCeer meb. 1S ceW efoee
ieee nw ~
Heegej hueme
Heegej hueme hees&Heesefueees kes Devleie&le veJe JeJemeee meejCeer meb. 1S ceW efoee ieee
nw ~
peerJeve hueme
GYejlee DeeefLe&ke leLee keejesyeejer heefjJesMe Ssmes keF& esjke mebkesle os jne nw pees neue kes
Je<eeX ceW meg{ DeeefLe&ke Je=ef ceW Deewj megOeej Deeves keer Deesj FMeeje kejles nQ ~
peerJeve hueme hees&Heesefueees kes Devleie&le veJe JeJemeee meejCeer meb. 1S ceW efoee ieee
nw ~
mekeue Iejsuet yeele oj ceW ueieYeie 30 eefleMele Je=ef mes lJeefjle Je=ef kee ceeie& eMemle
nesiee ~
mecetn yeercee JeJemeee
JeemleefJeke leLee efJeeere #es$e ceW Glheeokelee Je=ef nesvee yeercee #es$e ceW Yeer Je=ef kes efueS
MegYe mebkesle nw ~
3. peerJeve yeercee JeJemeee hej meceef DeeefLe&ke heefjJesMe

kee eYeeJe
cee@ie cege yeepeej ces Yeejleere efjpeJe& yeQke je iewj efJeeere mebmLeeDeeW kes efveJesMe hej
eefleyevOe ueieeves kes keejCe efveiece ves Deheveer efveefOeeeW kee cege yeepeej ceW meer.yeer.Sue.Dees.
leLee efjhees pewmes efueefKele ces meefee he mes efveJesMe efkeee nw ~ Fmekes DeueeJee Yeejleere
efjpeJe& yeQke eje veJecyej 2005 mes mejkeejer eefleYetefleeeW kes efveJesMe kes efuees meerve hej
DeeOeeefjle megefJeOee eoeve kej oer ieF& nw ~ pees efke eefleYetefleeeb keer mener keercele kes
Deekeueve ces ceooieej nw ~
Je<e& 2005-2006 ceW ieleJe<e& 2004-2005 keer Dehes#ee cege emeej ceW 11.7 keer leguevee
ceW 15.6 keer Je=ef ope& keer ieF& ~ Leeske cetue metekeebke kes DeeOeej hej ecegKe
cegmHeerefle keer oj ceee& 2006 ceW 4 ope& keer ieF& pees efke Ske Je<e& hetJe& 5.1 Leer ~
Yeejleere efjpeJe& yeQke ves 24 peveJejer 2006 kees Je<e& 2005-2006 keer efleefe De&
Jeeef<e&ke ceewefke leLee $e+Ce veerefle keer Iees<eCee ces efjhees oj 25 yeerheerSme ye{kej 5.50
mecetn yeercee eespeveeDeeW kes Debleie&le 3 Je<eeX kes oewjeve efkeS ieS veJe JeJemeee meejCeer
eb 1yeer ceW efoee ieee nQ ~
meeceeefpeke megj#ee eespeveeSB
peveeer yeercee eespevee kes ceeOece mes 43 Devegceessefole JeJemeeeeW kes Debleie&le 6315
eespeveeDeeW kes eje 18.38 ueeKe vees peerJeveeW kees yeercee megj#ee eoeve keer ieeer ~ eeuet
meeceeefpeke megj#ee mecetn yeercee eespevee kes Debleie&le 45.02 ueeKe vees peerJeveeW kees yeercee
megj#ee eoeve keer ieF& ~ JeJemeeeevegmeej efJemle=le JeieeakejCe meejCeer e. 2 ceW oer ieF&
nw ~
eLece yeercee
DeefOeke mes DeefOeke JeefkeleeeW kees yeercee megj#ee eoeve kejves kes efveiece kes GsMeeW keer
hetefle& nsleg Gve JeefkeleeeW kees yeercee eoeve kejves hej yeue efoee peelee nw, efpevekes peerJeve
hej henues mes yeercee vener nw ~ iele Je<e& keer 1,35,909.80 kejes[ . yeercee Oeve keer
185.92 ueeKe hee@efueefmeeeW keer leguevee ceW Je<e& 2005-2006 kes oewjeve henueer yeej
2,20,523.50 kejes[ . yeerceeOeve keer 243.65 ueeKe hee@efueefmeeeW hej eLece yeercee
efoee ieee ~ Je<e& ceW hetCe& efkees ieS kegue JeJemeee ceW eLece yeercee kee Devegheele
hee@efueefmeeeW keer mebKee DeeOeej hej 77.17 eefleMele leLee yeerceeOeve kes DeeOeej hej
76.70 eefleMele jne ~
12
49th Annual Report

The stock markets witnessed bullish conditions during 2005-06 with the
benchmark indices touching all time high levels. Net resources mobilised
by mutual funds increased sharply during 2005-06 led by higher inflows
under equity oriented schemes reflecting investor interest due to attractive
returns in a buoyant secondary market. Net assets of mutual funds, thus,
increased from 4.8 per cent of GDP at end-March 2005 to 6.6 per cent of
GDP at end-March 2006.
External Sector
the wholesale price index (WPI), was 4.0% as at March, 2006 as compared
with 5.1% a year ago.
On 24th January, 2006, in the Monetary and Credit policy announcement
for the second half of 2005-06, RBI hiked repo rate by 25 bps to 5.50%.
As a result, the yields on the Central/ State Government securities improved
and in particular the yield on 10 year benchmark GOI security improved
from 6.65% as on 31.03.05 to 7.52% as on 31.03.2006 . The hardening of
interest rate helped the Corporation to improve its yield on overall
investment.
According to the Directorate General of Commercial Intelligence and
4. WORKING RESULTS
Statistics (DGCI&S), Indias exports registered a strong growth of 24.7 per
New Business
cent in 2005-06 on top of 26.4 per cent growth a year ago. Export growth
was broad-based across major commodity sectors and destinations.
Engineering goods, textiles, chemicals, gems and jewellery and petroleum
products were the key drivers of export growth. Imports maintained the
tempo of high growth at 31.5 per cent during 2005-06, led by both oil and
non-oil imports, in an environment of buoyant economy Indias foreign
exchange reserves were US $ 151.6 billion as on March 31, 2006; at this
level, they were US $ 10.1 billion higher over end-March 2005 level. India
holds the fifth largest stock of reserves among the emerging market
economies and the sixth largest in the world.
Insurance Sector
Growth in financing, insurance, real estate & business services benefited
from sustained growth in bank credit & deposits, progressive expansion of
Individual Assurance
The new business under Individual Assurance portfolio for the last three
years is given in Table 1 A.
General Annuities
The new business under General Annuity portfolio for the last three years
is given in Table 1 A.
Pensions
The new business under Pension portfolio for the last three
Unit Linked Business

Bima Plus
business services.
The new business under Bima Plus portfolio for the last three
Though proportion of Life Insurance Fund in financial saving decreased to
Future Plus
13.5% in 2005-06 from 15.1 per cent in 2004-05 share of Insurance fund
The new business under Future Plus portfolio is given in Table 1 A.
insurance activity and continued buoyancy in exports of software & other
increased to 2.4 per cent in 2005-06 from 2.2 per cent in 2004-05.
The evolving economic and business environment thus exhibits a number
of encouraging signs that suggest reinforcement of the robust economic
Jeevan Plus
The business in force under Jeevan Plus portfolio is given in Table 1 A.
growth exhibited in recent years. Increase in gross domestic saving rate to
Group Insurance Business
levels around 30% provides the potential for attainment of an accelerated
The new business under Group Insurance portfolio for the last three years
is given in Table 1 B.
growth trajectory. Productivity growth in both the real and financial sectors
bodes well for growth in Insurance Industry as well.
3. IMPACT OF MACRO-ECONOMIC
ENVIRONMENT ON LIFE INSURANCE
BUSINESS
Pursuant to Reserve Bank of India phasing out the exposure of Non
Banking Financial Institutions in Call Money Market, Corporation has been
actively deploying its funds in other Money Market instruments like Repo,
CBLO etc. Further, RBI has allowed Screen based dealing in G-sec to Life
Insurance Companies from November, 2005 helping in better price
discovery.
Money supply during 2005-06 registered increase of 15.6% as against
increase of 11.7% in 2004-05. Headline inflation, based on movement in
13
Social Security Schemes

Through Janashree Bima Yojana, 6315 schemes covering 18.38 lakh new
lives were finalized under 43 approved occupations. 45.02 lakh new lives
have been covered under existing SSGS schemes. The details classified
according to occupations are given in Table No. 2.
First Insurance
In pursuance of the Corporate objectives of providing insurance cover to
more and more people, greater emphasis is laid on covering individuals
who have no previous insurance on their lives. During the financial year
2005-06, 243.65 lakh individuals were insured for the first time for a total
Sum Assured of Rs. 2,20,523.50 crore as against the previous years
figures of 185.92 lakh policies for S.A. of Rs. 1,35,909.80 crore. The
ratio of First Insurance to the Total Business completed for the year comes
to 77.17% and 76.70% in respect of Number of Policies and Sum Assured
respectively.

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mebosMe hengbeeves kes efueS melele SJeb peeieke eeeme efkees iees ~ heefjCeecemJehe Fve
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meeceeefpeke #es$e keer heefjYee<ee kes Devegmeej efJeeere Je<e& 2005-2006 kes oewjeve eeceerCe
#es$e mes . 60,971.85 kejes[ kee veJe JeJemeee yeercee jeefMe, 74,66,484 hee@efueefmeeeW
kes Devleie&le hetefjle ngF&, pees Je<e& ceW hetefjle hee@efueefmeeeW kee 23.65 leLee yeercee Oeve kes
21.21 efnmmes keer eesleke nw ~
Jewkeefuheke efJelejCe eCeeueer

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efJemleej Deewj HewueeJe ienjeF& leke kejkes keeHeer cepeyetleer heeeer nw ~ efJeeere Je<e
2005-06 ceW eLece eerefceece Deee ceW Jewkeefuheke efJelejCe eCeeueer kes efnmmes ceW 1.60
mes 1.95 leke Deewj hee@efuemeerees ceW 0.59 mes 0.93 leke Je=ef ngF& ~ en HewueeJe
leLee vees yeepeej mesiceWes leke hengbe nceejs yeQke meeLeeroejes, keeheexjs DeefYekelee&Dees SJeb
oueeuees kes efJeMeeue eenke DeeOeej kee Gheeesie kej mecYeJe ngDee ~
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2365.47 kejes[ yeercee jeefMe SJeb 353 kejes[ hees eLece eerefceece Deee hetje kejkes
Meeveoej eoMe&ve ope& efkeee ~
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ie"dyevOeve nesves keer Jepen mes nceeje keecekeepe cepeyetle ngDee nw ~ eLece eerefceece Deee
cebs yeQkees kee eesieoeve keeHeer ye[e nw (77) SJeb iele Je<e& ceW 5 #es$eere eeceerCe yeQkeesb kes
meeLe efkees iees ie"yevOeve ves efJeee Deeke[es cebs ye{esejer keer nw Deewj yeQkeebs eje
hee@efuemeerees ceW eesieoeve 55.51 leke hengbee nw ~ Fve 5 #es$eere eeceerCe yeQkeebs ves kegue
efceueekej 16320 hee@efuemeereeb Deewj 4.11 kejes[ heees kee eLece eerefceece kee eesieoeve
efoee nw ~
nceeje efkeesCe nw efke nce Jewkeefuheke ceeOece kees Glheeo efJelejCe kee Ske iegbpeeeceeve,
efkeHeeeleer Deewj Jenveere ceeOece yeveees Deewj efveiece kees Ske cenlJehetCe& eesieoeve os ~
Fmekes cesvepej eeuet efJeeere Je<e& kes efuees nceves 4,66,000 hee@efuemeerpe Deewj 625
kejes[ hees eLece eerefceece Deee kee yepe eeJeOeeve efkeee nw, efpememes efke efveiece cebs
nceeje eesieoeve Deewj ye{s ~
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keer efJeMes<e DeeJeMekelee nw ~ FmeefueS Yeejleere peerJeve yeercee efveiece yengeeceer efJeefJeOe
yeercee GlheeoeW keer ebKeuee hesMe kejlee nw, pees meceepe kes meYeer JeieeX keer DeeJeMekeleeDeeW
kees hetje kejleer nQ ~ efJeeere Je<e& 2005-2006 kes Deble ceW, DeLee&le 31.3.2006 kees,
efveiece kes heeme 42 eespeveeSb efJeee nsleg GheueyOe Leer ~
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peerJeve hueme, Yeejleere peerJeve yeercee efveiece keer yeercee yeele, Yeejleere peerJeve yeercee
efveiece keer Decetue peerJeve Deewj Yeejleere peerJeve yeercee efveiece keer peerJeve lejbie nQ ~
Yeejleere peerJeve yeercee efveiece keer peerJeve De#ee-III kee hegvecet&ueebkeve kejves kes heMeele
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efheues Je<eeX kes Devegmeej Ske mLeeeer Je=ef oMee&leer nw ~
meeceeve Jeeef<e&keer hees&Heesefueees kes Devleie&le eeuet JeJemeee meejCeer meb. 3S ceW efoee
ieee nw ~
heWMeve
heWMeve hees&Heesefueees kes Devleie&le eeuet JeJemeee meejCeer meb. 3S ceW efoee ieee nw ~
etefve efuebke
yeercee hueme
yeercee hueme kes Devleie&le eeuet JeJemeee meejCeer meb. 3S ceW efoee ieee nw~
Heegej hueme
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nw ~
peerJeve hueme
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nw ~
mecetn yeercee JeJemeee
mecetn yeercee eespeveeDeeW kes Devleie&le 3 Je<eeX kes oewjeve efkeS ieS eeuet JeJemeee meejCeer
meb. 3yeer ceW efoee ieee nw ~
5. hetpb eer ceeseve leLee efveefMele Jeeef<e&keer JeJemeee

31 ceee& 2006 leke 2,637 efveefMele Je=efe heeefueefmeeeB eeuet Leer efpemeceW Jeeef<e&ke Je=efe
keer jeefMe 892.14 ueeKe nw ~ 32,238.15 ueeKe yeerceeOeve kes efuees 19,823 hetbpeer
efJeceeseve heeefueefmeeeB eeuet Leer ~
6. heeefueefmeeeW kes meebeJf eefOeke efJeJejCe

yeercee DeefOeefveece 1938 kes Debleie&le efoes iees ehe$e [er.[er. kes Devegmeej efJeJejCe
meejCeer meb. 4 ceW meefcceefuele efkees iees nQ ~
7. peerJeve efveefOe, DeefOeMes<e leLee eoe kej

peerJeve efveOeer, cetueebkeve DeefOeMes<e, jeskee ieee DeefOeMes<e, keWere mejkeej kees Deoe
efkees iees DeefOeMes<e kes efnmmes Deewj kej kes efheues leerve Je<eeX kes Deebke[s meejCeer meb. 5
ceW efoes iees nQ ~
8. efveJesMe Deewj meeceeefpeke GejoeefelJe

31 ceee& 2006 kees efveiece kes kegue efveJesMe . 5,24,017.25 kejes[ jeefMe kes Les ~ efo.
31 ceee& 2006 leke efveiece kes hetBpeer efveJesMe kee efJemle=le JeieeakejCe meejCeer 6 ceW efoee
ieee nw ~
Je<e& 2005-06 kes oewjeve efveiece ves Yeejle mejkeej keer eefleYetefleeeW keer vees efveie&ce Deewj
efJeefYevve jepe mejkeejeW eje peejer efkees ieS veS $e+Ce efveie&ceeW ces eceMe: . 46,159.65
14
49th Annual Report

Rural Thrust:
Business In Force In Various Segments

Sustained and conscious efforts are made to carry the message of Life
Insurance to the rural areas, especially the backward and remote areas.
As a result, there has been steady growth of new business from these
areas.
As per the definition of rural/social sector approved by IRDA, the New
Business from rural areas amounts to Sum Assured of Rs. 60,971.85 crore
under 74,66,484 policies representing 23.65% and 21.21% share of policies
and Sum Assured respectively completed during the financial year
The business in force under Individual Assurance portfolio has been

showing steady growth over the years as given in Table 3 A.
General Annuities
The business in force under General Annuity portfolio for the last three
Pensions
2005-06.
The business in force under Pension portfolio for the last three years is
given in Table 3 A.
Alternate Channels
Unit Linked Business
Alternate Distribution Channel has spread its roots deeper and wider and
has gained strength in the fifth year of its operations. The fiscal 2005-06
saw the share to total in respect of First Premium Income increasing to
Bima Plus
The business in force under Bima Plus Business portfolio for the last three
1.95% from 1.60% of last year and in policies to 0.93% from 0.59%. This is
Future Plus
made possible through the spread and reach to newer market segments
The business in force under Future Plus portfolio is given in Table 3 A.
by harnessing the large customer base of our bank partners, Corporate
Jeevan Plus
agents and brokers.

In a fiercely competitive environment, we recorded an impressive
performance for the Financial Year 2005-06 by completing 2.95 lakh policies
with a Sum Assured of 2365.47 crore and an amount of Rs. 353 crore as
The business in force under Jeevan Plus portfolio is given in Table 3 A.
Group Insurance Business

The business in force under Group Insurance portfolio for the last three
First Premium Income.
years is given in Table 3 B.
Our activities have been strengthened by our tie-up with 39 banks, 628
5. CAPITAL REDEMPTION AND

ANNUITY CERTAIN BUSINESS
Corporate Agents and 103 Brokers who are spread across the country.
While Banks continue to contribute substantially by way of Premium Income
(77% share in FPI), the tie-up during the year with 5 Regional Rural Banks
(RRBs) has given the spurt in the number of sales and the contribution of
Banks through policies has reached a figure of 55.51%. The 5 RRBs put
together have contributed 16,320 Policies with an FPI of Rs.4.11 crore.
Our vision is to cultivate and nurture the Alternate Channel as a vibrant,
cost-effective and sustainable mode of product distribution and be a
significant contributor to the Corporation. In line with this, during the current
financial year we have budgeted for a Premium Income of Rs.625 crore
under 4,66,000 policies, resulting in a higher share to the corporation.
Product Development
As on March 31, 2006, Annuity Certain Policies numbering 2,637 were in

force for an amount of annuity per annum of Rs. 892.14 lakh. There were
19,823 Capital Redemption policies in force for a sum assured of 32,238.15
lakh.
6. STATUTORY STATEMENTS
REGARDING POLICIES
The statements in the form DD prescribed under Insurance Act, 1938
have been included in Table No. 4
7. LIFE FUND, SURPLUS AND TAXES

PAID
In a competitive market, there is a greater need to provide insurance
The life fund, valuation surplus, surplus retained, share of surplus and
taxes paid to the Central Government for last three years, figures are given
products that meet the need of our customers. LIC therefore offers a wide
in Table No. 5.
variety of products which fulfils the requirements of all segments of the

society. As at the end of the financial year 2005-06 i.e. as at 31.03.06, the
Corporation had 42 plans available for sale.
As a part of the periodical review of its product portfolio, the Corporation
withdrew four plans and introduced five new plans viz. LICs Golden Jubilee
Policy- Bima Gold, LICs Jeevan Plus, LICs Bima Bachat, LICs Amulya
Jeevan and LICs Jeevan Tarang. LICs Jeevan Akshay III was repriced
and replaced as LICs Jeevan Akshay IV.
15
8. INVESTMENTS AND SOCIAL

RESPONSIBILITIES
The total investments of the Corporation amounted to Rs. 5,24,017.25
crore as at 31st March, 2006. Table 6 depicts a broad classification of the
investments of the Corporation as at 31st March, 2006.
The Corporation subscribed an amount of Rs. 46,159.65 crore (face value)
and Rs. 8,880.66 crore (face value) to the Securities of the Government of

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z
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DeeJeeme #es$e
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me[ke, hegue Deewj me[ke heefjJenve kee efJekeeme
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meeceeefpeke megj#ee eespeveeDeeW kes Debleie&le oeJee Yegieleeve
Je<e& 2005-2006 kes oewjeve efveiece ves efJeefYevve meeceeefpeke megj#ee mecetn eespeveeDeeW
DeeF&.Deej.[er.heer./Sme.peer.Sme.Jeee. mecetn eespevee kes Debleie&le kegue 40.947 oeJeeW
kee Yegieleeve efkeee ~
9. efJeheCeve ieefleefJeefOeeeb
Yeejle ceW keeee&uee
31 ceee&, 2006 kees efveiece kes 7 #es$eere keeee&uee, 101 ceb[ue keeee&uee, 2048
MeeKeeSW leLee 24 mewsueeF keeee&uee nQ ~
efJeosMeer heefjeeueve
efveiece Dehevee yeercee JeJemeee efHepeer ceW megJee SJeb ueegkee leLee ceesjerMeme ceW hees& uegF&
Deewj et.kes. ceW Jescyues efmLele MeeKeeDeeW eje kej jne nw ~ Je<e& 2005-2006 kes oewjeve
efveiece keer Fve efJeosMeer MeeKeeDeeW ves kegue efceueekej 13463 hee@efueefmeeeW peejer keer
efpevekeer kegue yeercee jeefMe 102.65 efceefueeve Deceefjkeer [euej leLee eLece eerefceece
Deee 1.66 efceefueeve Deceefjkeer [euej Leer ~ efJeeere Je<e& keer meceeefhle efleefLe efo. 31
ceee& 2006 kees efJeosMeer MeeKeeDeeW ceW kegue eeuet JeJemeee 99131 hee@efueefmeeeW kes
Debleie&le 545.05 efceefueeve Deceefjkeer [euej yeercee jeefMe kee Lee ~
efJeosMeer meneeke kebheveer Deewj mebegkele Ghe kebheveer:

Sue.Deee.meer. (FbjvewMeveue) yeer.Sme.meer. (meer) yenjerve
Kee[er osMeeW ceW keee&jle DeefveJeemeer YeejleereeW kes peerJeve yeercee keer DeeJeMekelee keer hetefle&
kes efueS yenefjve ceW 1989 ceW mLeeefhele efveiece keer efJeosMeer meneeke kebheveer Deceefjkeer
[euej ceW hee@efueefmeeeB peejer kejleer nQ ~ kebheveer yenefjve, meeToer Dejefyeee, kegJewle Deewj
et.S.F&. ceW ecegKe SpesveW kes ceeOece mes leLee keleej ceW yeeskejes kes ceeOece mes SJeb
Deesceeve Deewj ogyeF& MeeKeeDeeW kes ceeOece mes keece kej jner nQ ~ Je<e& 2005 ceW kebheveer ves
13.48 Deceefjkeer [euej keer eLece eerefceece Deee kes meeLe, efmebieue eerefceece 5.3
efceefueeve Deceefjkeer [euej Deee kes meeLe 112.34 efceefueeve Deceefjkeer [euej yeercee
jeefMe kee JeJemeee 8663 heeefueefmeeeW kes Debleie&le hetje efkeee ~
Sue.Deee.meer. (vesheeue) efueefces[

3 efomecyej 2001 kees Yeejleere peerJeve yeercee efveiece ves vesheeue kes DeeCeer Deeweesefieke
mecetn efJeMeeue eghe Dee@He kebheveerpe kes meeLe mebegkele Gece Sue.Deee.meer. (vesheeue)
eejbefYele efkeee ~ Fme kebheveer ves 15 pegueeF& 2005 kees meceehle Je<e& 22180 hee@efueefmeeeW
hej 253.15 kejes[ vesheeueer hees keer yeercee jeefMe Deewj 12.37 kejes[ vesheeueer hees
keer eLece eerefceece Deee kee JeJemeee hetCe& efkeee ~
Sue.Deee.meer. (uebkee) efueefces[
efveiece keer meneesie kebheveer Sue.Deee.meer. (uebkee) efueefces[ Yeejleere peerJeve yeercee
efveiece leLee yee&uees eghe Dee@He kebheveerpe kes mebegkele Gece mes eer uebkee ceW efo. 1 ceee&
2003 kees Meg ngF& Leer ~ Je<e& 2005 ceW kebheveer ves 13795 hee@efueefmeeeW hej 213.90
efceefueeve eer uebkee hees keer yeercee jeefMe kes meeLe 15.09 kejes[ eer uebkee hees keer
eLece eerefceece Deee Deefpe&le keer ~
10. DeefYekelee&
31.3.2006 kees nceejs kegue DeefYekelee&DeeW keer mebKee 10,52,283 nQ ~ 31.3.2005
kees en mebKee 10,41,737 Leer ~ 2005-06 kees nceejs keee&jle DeefYekelee&DeeW keer
mebKee 9,87,689 nw ~ 2004-05 ceW en mebKee 9,80,836 Leer ~
DeefYekelee&DeeW keer keueye meomelee

Ge mlej hej keee& kejves Jeeues DeefYekelee&DeeW kees Glmeeefnle kejves leLee ceevelee eoeve
kejves nsleg meomelee Je<e& 2004-05 mes Ske eerefceece keueye kee efvecee&Ce efkeee ieee nw
efpemekee veece keesjheesjs keueye jKee ieee nw ~ Fme eerefceece keueye ceW meomelee ceW
Je=ef ngF& nw ~
Je<eeX mes ueieeleej efve<heeove kej jns DeefYekelee&DeeW kees ceevelee osves kes efueS keueyeeW kes 5
mlej yeveees ieeW nw, pewmes DeOe#eere, #es$eere eyebOeke, ceb[ue eyebOeke, MeeKee eyebOeke
SJeb efJeefMe DeefYekelee& keueye efpemeces efheues 4-5 Je<eeX ceW meomelee ceW Je=ef ngF& nw ~
keueye meome keeflehee efJeMes<eeefOekeej kee ueeYe G"eles nQ leLee keeflehee omleeJespeeW
Deeefo Deveske mlej kes eyeue meomelee kee efJelejCe syeue ceW efoee ieee nQ ~
efJeYevve keueye mlejeW kes meome
keueye kes veece
keesjheesjs
DeOe#eere
#es$eere eyebOeke
ceb[ue eyebOeke
MeeKee eyebOeke
efJeefMe DeefYekelee&
2005-06
54
18608
14863
27717
57238
26094
meomelee Je<e&
2004-05
49
18223
14853
29943
52417
37353
2003-04
17275
14610
27729
61359
34370
kegue
144574
152838
155343
Je=efeke DeefYekeee&DeeW keer eespevee

efveiece ceW DeefYekelee& yeue kes JeJemeeeerkejCe kee efJekeeme kejeves nsleg Menjer kewefjDej
DeefYekelee& Deewj eeceerCe kewefjDej DeefYekelee& eespevee nw ~ JeJemeee ceW efmLejlee eehle
kejeves ceW kewefjDej keer MegDeele ceW GvnW Je=efekee oer peeleer nw ~ 31 ceee& 2006 kees
efveiece ceW 20306 Menjer kewefjDej DeefYekelee& Deewj 47062 eeceerCe kewefjDej DeefYekeee&
nw ~
16
49th Annual Report

India and the new loan issues of the various State Governments respectively
during 2005-2006.
SOCIAL RESPONSIBILITIES:
It has been the constant endeavour of the Corporation to provide
security to as many people as possible and to channelise the savings
mobilised for the welfare of the people at large.
To meet this end, the Corporation has been promoting Social Welfare
through investments in Infrastructure and Social Sector which includes:
z Projects/Schemes for generation and transmission of Power,
z Housing Sector,
z Water Supply and Sewerage Projects/Schemes,
z Development of Roads, Bridges & Road Transport.
The total Investment in these sectors during 2005-06 was Rs.13,850.84

crore as indicated in Table 7. The investments by way of Central, State
and Other Government Guaranteed Marketable securities, Loans &
Debentures to Infrastructure and Social Sector amounts to Rs. 3,58,400.76
crore.
Claims under Social Security Schemes

The number of claims paid during the year by the Corporation under various
Social Security Group Schemes including the IRDP/SGSY Group Insurance
was 40,947
9. MARKETING ACTIVITIES
Offices in India
As on 31st March 2006, the Corporation has 7 Zonal Offices, 101 Divisional
Offices and 2,048 Branch Offices and 24 Satellite Offices (SOs)
Foreign Branches:
The corporation directly operates through its Branch offices in Mauritius at
Port Louis, Fiji at Suva & Lautoka and United Kingdom at Wembley. During
the year 2005-06, these three foreign Branches together issued 13463
policies with Sum Assured of US $102. 65 million and First Premium Income
of US $ 1.66 million. The total business in force of these foreign branches
as at 31st March 2006 was US $ 545.05 million of Sum Assured under
L.I.C. (Nepal) Ltd:

LIC (Nepal) Ltd a joint venture company between LIC of India and M/S
Vishal Group of companies in the Kingdom of Nepal was established on
3rd December 2001. The Company, for the year ended 15th July 2005,
completed 22180 policies with Sum Assured of NRs 253.15 crore and First
Premium Income of NRs 12.37 crore.
LIC (Lanka) Ltd:

LIC (Lanka) Ltd, a joint venture company between LIC of India and M/S
Bartleet Company Ltd, was established on 1st March 2003. For the year
ended December 2005, the company has completed business under 13795
policies for a Sum Assured of SLR 213.90 crore with first premium income
of SLR 15.09 crore.
10. AGENTS
The total number of Agents on our Roll is 10,52,283 as at 31.03.2006 as
against 10,41,737 as on 31.03.2005. The number of Active Agents is
9,87,689 as at 31.03.2006 as compared to 9,80,836 as on 31.03.2005.
Agents Club Membership

In order to motivate and recognize high performers amongst agents a
premium Club called the Corporate Club has been formed w.e.f the
Membership Year 2004-2005. The membership in this premium club is
showing a positive growth.
The other 5 clubs which were formed to recognize Agents who perform
consistently year after year, viz. Chairman, Zonal Manager, Divisional
Manager, Branch Manager and Distinguished Agents have also shown
good growth during last 4-5 years.
The Club Members enjoy certain privileges and are vested with certain
authority for attesting certain documents etc. Details of membership strength
of various clubs are given in Table:
MEMBERS OF VARIOUS AGENTS CLUB

Name of Club
Membership Year
2005-06
2004-05
2003-04
Corporate
54
49
Chairman
18608
18223
17275
Zonal Manager
14863
14853
14610
Foreign subsidiaries and Joint Venture

Companies
Divisional Manager
27717
29943
27729
Branch Manager
57238
52417
61359
LIC (International) BSC (C), Bahrain:
Distinguished Agents Club
26094
37353
34370
The overseas subsidiary of the Corporation which was established at

Bahrain in 1989 caters to the life insurance needs of NRIs in the Gulf by
issuing policies in US Dollars. The company operates in all 6 GCC countries
of Bahrain, Saudi Arabia, Kuwait and UAE (through Chief Agents), Qatar
(through broker) and Oman and Dubai through branch offices. In the year
ended December 2005 the company issued 8663 policies with a Sum
Assured of US $112.34 million and collected an amount of US $ 13.48
million towards First Year Premium and also US $ 5.3 million towards
Single Premium.
Total
144574
152838
155343
99,131 policies.
17
Career Agents Scheme

The Corporation has a scheme of Urban Career Agents and Rural Career
Agents to promote the cause of professionalizing the agency force. They
are given stipends at the start of their career to enable them to settle down
in the profession. As on 31.3.2006 there are 20306 Urban Career Agents
and 47062 Rural Career Agents.
11. efJeefJeOe keee&keueehe

Sue.DeeF&.meer. neGefmebie HeeF&vewme efueefces[
Sue. DeeF&. meer. neGefmebie HeeF&vewme kes 6 eeosefMeke keeee&uee, 15 yewke DeeefHeme, 115
Deebeefueke keeee&uee Deewj 100 mes DeefOeke kewche keeee&uee hetjs osMe ceW Hewues ngS nw ~
kecheveer kee Ske eefleefveefOe keeee&uee ogyeF& ceW Yeer nw ~ kecheveer kes Mesej yee@cyes meke
Skemeesvpe Je vesMeveue meke Skemeesvpe ceW meteerye nw ~ Je<e& 2004-05 ceW kecheveer ves
Dehevee henuee iueesyeue ef[heeefmejer Mesej peejer efkeee ~ en Mesej uekepceyeie& meke
Skemeesvpe ceW meteerye nw ~ osMe keer neGefmebie HeeF&vewme kecheefveeeW ceW Fme ekeej kee
en henuee Mesej nw ~ ueieeleej efheues 5 Je<eeX ceW Sue. DeeF&. meer. neGefmebie HeeFveWme kees
efeefmeue eje AAA cetueebefkele efkeee ieee nw ~
kegue $e+CeeW keer jeefMe . 14,867/- kejes[; kecheeGC[s[ Jeeef<e&ke Je=efoj 25
mJeerke=le $e+CeeW keer jeefMe . 5,147/-kejes[; kecheeGC[s[ Jeeef<e&ke Je=efoj 25
mebefJeleefjle $e+CeeW keer jeefMe . 4,896/- kejes[; kecheeGC[s[ Jeeef<e&ke Je=efoj 26
Meg ueeYe . 208.57/- kejes[
ueeYeebMe 60
Sue.DeeF&.meer. kesej nescme efueefces[
Fkeje Dee@ve ueeFve ves Sue DeeF& meer Sce SHe kees 3 ieesu[ SJee@[& mes mecceeefvele efkeee
efpeme ceW mes Sue DeeF& meer Sce SHe efueefkeJe[ Heb[ (Ske Deewj leerve Je<eeae DeJeefOe) kes efueS
2 Deewj Sue DeeF& meer Sce SHe Heueesefbie js Heb[ Mee@ ce& (Ske Je<e& keer DeJeefOe) kees 1
SJee@[& efoee ieee ~
Sefceer FbjvesMeveue efye]pevesme mketue veese[e eje Sue DeeF& meer Sce SHe kees o yesm
hees&Heesefueees cewvespej Fve [sv mesieceW kes SJee@[& mes mecceeefvele efkeee ieee ~
Sue DeeF& meer Sce SHe eje Dehevee keee& efve<heeove 11 #es$eere keeee&ueees, 20 efyepevesme
meWj Deewj Fve keeee& kes 47 FvJesmj meefJe&me meWme& kes ]peefjS efkeee peelee nw pees
nceejs jefpemêj SJeb êmebHej SpeWme (RTAs) Yeer nQ ~
31-3-2006 kees Sue DeeF& meer Sce SHe kes heeme 264 eerHe SpeWme leLee 7484
ceOemLeeW kee efJeMeeue vesJeke& ceewpeto nQ ~
efJeeere Je<e& kes oewjeve kebheveer ves Deheves ueesiees (eleerke efevn) leLee Gmekeer jbie-eespevee
ceW heefjJele&ve efkeee leLee kebheveer kee veece yeouekej Sue DeeF& meer cetetDeue Heb[ Smes
cewvespeceW kebheveer efue. kej efoee ~
12. yeercee Oeejke nsleg mesJeeSB :
Jeefj veeieefjkeeW kes megjef#ele DeJekeeMe eehle peerJeve keer DeefYeuee<ee kees hetCe& kejves
nsleg, Sue. DeeF&. meer. Se. SHe. Sue kesej nescme [Sue. DeeF&. meer. neGmeeRie HeeF&vebsme
kes hetCe& mJeeefcelJe Jeeueer kecheveer] Jeefj veeieefjke eecees keer mLeehevee kejleer nw ~
kecheveer kee eLece eespeske, peesefke efveieefcele #es$e ceW Deheveer lejn kee Devet"e nw, kee
ueeskeehe&Ce 19.03.06 kees yebieueesj ceW ngDee ~ G[ermee jepe mejkeej eje YegJevesMJej ceW
Yetefce Deeyebve kes meeLe efleere eespeske Yeer eejbYe nes ieee nw ~ efveke YeefJe<e ceW
yebieueesj cebs efleere ejCe eejbcYe nesves Jeeuee nw ~ en veeer kecheveer osMe kes Deve Menjes
Deewj kemyees cebs Yeer keee& eejbYe kejsieer ~
oeJeeW kee efveheeve :
peerJeve yeercee meneesie Smes cewvespeceW keb. efue.
oeJeeW kes efveheeve mes mebyebefOele efheues 3 Je<eeX kes Deebke[s meejCeer 8 (ke) Deewj 8 (Ke) ceW
efoS ieS nQ ~
31-03-2006 kees Sue.DeeF&.meer.Sce.SHe. keer 24 eespeveeSb mebeeefuele nQ ~ Sue DeeF&

meer Sce SHe efueefkeJe[ Heb[, Sue DeeF& meer Sce SHe Heueesj Sce DeeF& heer, Sue DeeF& meer
Sce SHe etefueme, Sue DeeF& meer Sce SHe FefkeJeer Heb[ FveceW ecegKe nQ ~ Fme Je<e& ceW
emlegle cewegefjer hueeve (SHe Sce heer) efmejer]pe Imes VI kees efveJesMekeeW kee Glmeen JeOe&ke
eeflemeeo eehle ngDee ~ kegue Ske$eerkejCe 305 nes ieee Deewj efj[scheMeve (efJeceeseve)
47 leke Ie ieee ~
Smes Deb[j cewvespeceW (S eg Sce) 31-03-2005 kes . 2883.57 kejes[ mes ye{kej
31-03-2006 ceW . 5228.89 kejes[ nes ieee Deewj FmeceW Geesie keer 55 Je=ef oj
keer leguevee ceW 81.33 keer Je=ef efoKeeF& oer ~
59 SetSce efueefkeJe[ mkeercme mes, 35 Fvekece mkeercme mes Deewj 6 FefkeJeer mkeercme
kes eje eehle ngDee.
Sue DeeF& meer Sce SHe efueefkeJe[ Heb[ leLee Sue DeeF& meer Sce SHe Heueesefbie js Mee@& ce&
kees Deheveer mebyebefOele esCeer ceW henuee mLeeve eehle ngDee Deewj Sue DeeF& meer Sce SHe
cebLeueer Fvkece hueeve kees 41 mkeercme ceW eewLee mLeeve eehle ngDee ~
105 FefkeJeer mkeercme ceW henuee meeue kee eefleueeYe 50 mes Yeer DeefOeke ngDee, nceejer
4 mkeercme eeveer Sue DeeF& meer Sce SHe eesLe Heb[, Sue DeeF& meer Sce Dehee@jegefveer]pe
Heb[, Sue DeeF& meer Sce SHe meWmeskeme S[Jeebspe Heb[ Deewj Sue DeeF& meer Sce SHe FefkeJeer
Heb[ ves Yeer Gece eefleueeYe oMee&ee ~
yeercee OeejkeeW kees oer peevesJeeueer mesJeeDeeW ceW oeJeeW kee efveheeve Ske Deleble cenlJehetCe&
henuet nw ~ Dele: efveiece heefjhekeJelee SJeb ce=leg oeJeeW kes MeerIe efveheeve hej peesj oslee nw~
Je<e& 2005-2006 kes oewjeve efveiece ves efheues Je<e& kes . 23642.54 kejes[ kes 115.04
ueeKe oeJeeW keer leguevee ceW . 28472.99 kejes[ heeeW kes 120.84 ueeKe oeJeeW kee
efveheeve efkeee ~ Je<e& 2005-2006 kes Deble ceW ose oeJeeW mes yekeeee oeJeeW kee eefleMele
hee@efuemeer mebKee kes DeeOeej hej 0.18 eefleMele leLee yeercee jeefMe kes DeeOeej hej 0.82
eefleMele Lee, peyeefke ener eefleMele Je<e& 31 ceee&, 2005 kes Deble ceW eceMe : 0.14
eefleMele leLee 0.80 eefleMele Lee ~
eenkeeW keer efMekeeele efveJeejCe

nj Je<e& yengle ye[er cee$ee ceW efveheeS oeJeeW ceW mes kesJeue cenlJehetCe& peevekeejer efheeves mes
mebyebefOele keg oeJes DemJeerke=le efkeS peeles nQ ~ Ssmes oeJesoejeW kees #es$eere keeee&ueeeW SJeb
kesvere keeee&uee keer oeJee hegvejer#eCe meefceefle kes mece#e DeYeeJesove kejves kee DeJemej
eoeve efkeee peelee nw ~ Ge/efpeuee veeeeuee kes mesJeeefveJe=e veeeeOeerMe hegvejer#eCe
meefceefle kes mLeeeer meome yeveeS peeles nQ, efpememes efveCe&e eefeee ceW heejoefMe&lee Deeleer
nw ~ Je<e& 2005-2006 ceW oeJee hegvejer#eCe meefceefle eje hegvejeref#ele 3677 ceeceueeW ceW mes
547 oeJeeW ceW (meevegen jeefMe kes meeLe) Yegieleeve efkeee ieee ~ yeerceeOeejkeeW keer
efMekeeeleeW kes MeerIe efveJeejCe nsleg efveiece kes MeeKee/ceC[ue/#es$eere/kesvere keeee&ueeeW
ceW efMekeeele efveJeejCe DeefOekeejer keee&jle nQ Deewj heejoefMe&lee yeveees jKeves kes GsMe
mes Gvekes veece Deewj efceueves kee mecee Jeeheke mlej hej heefjeeefuele nesvesJeeues meceeeej
he$eeW ceW ekeeefMele efkeS peeles nQ ~ efMekeeeleW efveJeejCe eCeeueer ceW eenke mebyebOe Deewj
eenke kee Keeue jKeves keer YeeJevee meceeefnle nw, efpemekes lenle meYeer mebJesoveMeerue
mLeeveeW hej eenkeesvcegKeer DeefOekeeefjeeW keer efveegefkele hej peesj efoee peelee nw ~ metevee
eeweesefiekeer keer ceoo mes eesSefkeJn mehees& efmemce kee mebeeueve efkeee ieee nw, leeefke
ceeveJeere oKeueboepeer Deewj eenke efMekeeeleW kece neW ~ efheues Je<e& keer kegue 20782
efMekeeeleeW keer leguevee ceW Je<e& 2005-2006 kes oewjeve efveiece eje eehle ngF& efMekeeeleeW
18
49th Annual Report

11.
DIVERSIFIED ACTIVITIES
LIC Housing Finance Limited.
ICRA online awarded 3 Gold Awards to LICMF 2 for LICMF Liquid Fund
(one and three year period) and 1 for LICMF Floating Rate Fund Short
Term (one year period)
LIC Housing Finance has 6 Regional Offices, 15 Back Offices and 115
Area Offices in addition to over 100 Camp Offices spread across the country.
Amity International Business School, Noida, bestowed on LICMF The Best
It also has a representative Office at Dubai. The Companys shares are
Portfolio Manager in Debt Segment Award.
listed on the Bombay Stock Exchange and the National Stock Exchange.
During the year 2004-05, the Company launched its maiden Global
Depository Shares (GDS) offering, which is listed at the Luxembourg Stock
Exchange. This GDS offering was the first such offering by any Housing
Finance Company in India. The Company was rated AAA by CRISL for 5
consecutive years.
Outstanding Loan Position Rs. 14,867 crore, 5 year CAGR 25%
Loan Amount sanctioned Rs. 5,147 crore, 5 year CAGR 25%
Loan Amount disbursed Rs. 4,896 crore, 5 year CAGR26%
LICMF is operating through 11 Area Offices, 20 Business Centres and 57

Investor Service Centres of Karvy who are also our Registrars and Transfer
Agents (RTAs)
As on 31/03/2006 LICMF has a network of around 264 chief agents and
7484 intermediaries.
During the financial year the company has changed its logo and its color
Net ProfitRs. 208.57 crore
scheme and has also sought to change the companys name to LIC Mutual
Divdend60%
Fund Asset Management Company Ltd.
LIC HFL Care Homes Ltd.
12. POLICY HOLDERS SERVICING
LIC HFL Care Homes Ltd., a wholly owned subsidiary of LIC Housing
Settlement of Claims :
Finance Ltd., fulfils a great Corporate Social Responsibility in securing the

retired life of Senior Citizens in a homely way by setting up Senior Citizens
Retirement Villages. Its pilot project, the first of its kind in corporate venture,
was launched at Bangalore on 9/3/2006. Its 2nd project has started at
Bhubaneswar with Govt. of Orissa allotting the land. Banglore is slated to
begin its second phase in near future. The new company ventures to expand
to various other cities and towns in India.
LIC Mutual Fund Asset Management Company Ltd.

As on 31/03/2006 LICMF had 24 schemes in operation, LICMF Liquid Fund,
LICMF Floater MIP, LICMF ULIS, LICMF Equity Fund being the prominent
ones. The Fixed Maturity Plan (FMP) Series I to VI launched during the
year was well received by the investors. Total collections went up by 305%
and number of redemptions were brought down by 47%.
The Asset Under Management (AUM) rose from Rs.2883.57 crore as at
31/03/05 to Rs.5228.89 crore as at 31/03/06 showing a growth rate of
81.33% as against the industry growth rate of 55%.
59% of the AUM came from Liquid schemes, 35% from Income schemes
The settlement of claims is a very important aspect of service to the

policyholders. Hence, the corporation has laid great emphasis on
expeditious settlement of the maturity as well as death claims. During the
year 2005-2006, the Corporation has settled 120.84 lakh claims for
Rs. 28,472.99 crore compared to 115.04 lakh claims for Rs. 23,642.54
crore in the previous year. The percentage of claims outstanding at the
end of the year to the claims payable during the year is 0.18% by number
and 0.82% by amount as on 31st March, 2006 compared to 0.14% and
0.80% respectively as on 31st March, 2005.
The figures in respect of settlement of claims for the last three years are
given in Table 8 (A) and 8 (B).
Customers Grievance Redressal :

Out of the large number of claims settled every year, only a few claims are
repudiated by the Corporation mainly in cases of suppression of material
facts. Claimants under such cases are given an opportunity to make
representation before Zonal/Central Claims Review Committee. Former
High Court/District Court Judge is a sitting member of Review Committee
which imparts transparency to the decision making process. Out of 3677
cases reviewed during 2005-06, claims in respect of 547 (including exgratia payments), were admitted.
and 6% from Equity schemes.

LICMF Liquid Fund and LICMF Floating Rate Short Term occupied 1st
position in their respective categories and LICMF Monthly Income Plan
got 4th position out of 41 schemes.
Out of 105 equity schemes giving 1-year return of over 50%, 4 of our
schemes, namely, LICMF Growth Fund, LICMF Opportunities Fund, LICMF
Sensex Advantage Fund and LICMF Equity Fund figured prominently.
19
The Corporation has Grievance Redressal Officers at Branch /Divisional/

Zonal/Central Office to redress grievances of customers and for
transparency, their names and availability timings are published in
newspapers of wide circulation. The spirit of customer relations and
customer care have been ingrained in our complaint redressal system with
emphasis on placing customer oriented personnel at all touch points. IT
enabled proactive support systems have been operationalized to reduce
manual interventions and minimize grievances. The number of complaints
received during the year 2005-06 is 25,624 as compared to 20,782 for the

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20
49th Annual Report

corresponding period of previous year. In our endeavour for enhancing
customer satisfaction, stringent bench-marks as laid down in the Citizens
Charter are being followed scrupulously.
The valuable suggestions / recommendations received from the members
of the Consumer Affairs Committee are taken into consideration at
formulation and the implementation stage regarding various servicing
aspects.
Insurance Ombudsmen in the country at Ahmedabad, Bhopal,
Bhubaneshwar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Kochi,
Kolkata, Lucknow and Mumbai are providing low cost and speedy arbitration
to customers.
13. CORPORATE COMMUNICATIONS

ACTIVITIES
Change is the way of life and adaptability to change is the biggest
single virtue, be it in the life of an individual or a corporate, which
ensures its growth and help to remain relevant. In consonance with the
changes taking place in the insurance market, the Corporation has
been going through a process of transformation simultaneously
revamping its corporate image. The Corporation has emerged with a
younger and sleeker image. Our advertisement campaigns are not
only targetted to augment sales and are in sync with the marketing
strategies but also displaying information and enhancing our brand
image. The relationship with the press was vibrant and we received
wide coverage. We could reach out to over 22 crore people through
our AD campaigns through various media like Radio, TV, Internet,
Press etc.
The Golden Jubilee celebrations of the Corporation was inaugurated
by Honourable Prime Minister, Dr. Manmohan Singh on 01.09.2005 at
Lucknow. To mark the occasion a commemorative issue of Yogakshema
was released by Honourable Finance Minister, Shri P. Chidambaram
which received appreciation from all. An exhibition Jashna Zindagi Ka
was arranged in NCPA Mumbai and an exhibition on wheels i.e.
Zindagi Express which passed through 39 stations and was witnessed
by over 10 lakh people, displayed the epic journey of the Corporation
during the last 50 years.
LIC received accolades during the year-the first being its recognition
as the Most Trusted Service Brand in India by- The Economic
Times and AC Nielsen ORG MARG for the third consecutive year,
being a Super Brand of India ( 2005-06 ), Dun & Bradstreet certification
of LIC as Number One in Net worth and Net Profit among the Top
500 Indian companies for the year 2005. LIC has also received a Asia
Insurance Merit Award for Corporate Social Responsibility.
CNBC-Awaz Consumer Award 2005-06 as Best Life Insurance Brand
in India on the basis of market/ consumer survey done in conjunction
with AC Nielsen ORG MARG was another golden feather in LICs cap.
LICs Portal has received Webbys Peoples Voice Award for the best
site in the Insurance category. LIC has also been awarded the NDTV
Profit Business Leadership award in Insurance for 2005-06.
14. PERSONNEL & EMPLOYEE

RELATIONS
Staff Strength
The number of employees of the Corporation as on
31/03/2006 was 1,13,184 as against 1,14,588 at the end of the previous
financial year
21
Employee Relations
The management held periodic discussions as also organized information
sharing meetings with unions on various issues concerning the employees,
which has helped the Corporation in maintaining cordial and harmonious
relationship with employees in the Corporation.
Recruitment
During the year the Corporation recruited 105 Assistant Administrative
Officers (Direct recruit-MCA/CA/Actuarial).
Empowerment of Women
Women have contributed to the growth and development of the Corporation
in a significant way. Out of 19,975 Class I Officers of the Corporation 3240
are lady officers. There are 13 lady Officers in the senior rank of Zonal
Manager/Zonal Manager (S). Out of 18,847 Development Officers, 276
are lady Development Officers and 19,999 lady Class III/IV employees as
against a total of 74,362 Class III & IV employees.
Reservation of Scheduled Castes, Scheduled Tribes and

Other Backward Classes
In compliance with the National Policy in favour of SC/ST/OBC/Exservicemen and Persons with Disabilities, the Corporation has framed
regulations relating to reservation of posts, which are in accordance with
the instructions issued by Government.
During the year under review, various offices of LIC recruited 200 candidates
belonging to SC/ST/OBC categories against the reserved vacancies.
Ex-servicemen Employees
The Corporation makes provision for recruitment of Ex-servicemen
employees as per Government guidelines.
Persons with Disabilities

With a view to help rehabilitation of persons with disabilities, the Corporation
has identified jobs for recruitment of the Visually Handicapped, the Hearing
Impaired and the Locomotor Disability or Cerebral Palsy. The total
reservation of vacancies relating to jobs/posts identified in Class-I, ClassIII and Class-IV is to the extent of 3%.
In addition to reservation, relaxation in upper age limit of up to 10 years
has also been provided. Persons who are Visually Handicapped and
persons with Locomotor Disability or Cerebral Palsy, recruited under the
reserved quota are granted Conveyance Allowance as per rules.
Sports Activity
The year 2005-2006 proved to be a great year of sporting success for Life
Insurance Corporation of India.
Ms. P. Nirmala (SCZ) won silver medal in the Womens Singles at the 1st
Asian Carrom Championship held at Maldives in December 2005. She
was also the member of the Indian Team, which won Gold medal in the
team championship and as also secured 1st in Womens Doubles.
At the national level, Ms. P. Nirmala again asserted her supremacy by
winning the Womens singles title in the 35th Senior National and InterState Carrom Championship held at Pune in January 2006. In the process
she created a new Indian record of winning the national championship 6times.
Ms. Swati Ghate (WZ) won the National A Chess Championship held at
Visakhapatnam in March 2006.

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kes oes keee&ece Deeeesefpele efkeS ieS ~
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2,045
2,057
28,676
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580
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606
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33,384
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2005-06
2,230
2,174
31,897
36,301
1,058
30
1,088
37,389
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Deewj iewj Yeejleere peerJeve yeercee efveiece me$e ~ efJeeere Je<e& 2005-06 ceW eyevOe efJekeeme
kesv ceW kegue 87 keee&eceeW kee Deeeespeve efkeee ieee leLee 2230 DeefOekeeefjeeW kees
eefMe#eCe efoee ieee ~
16. jepeYee<ee keeee&vJeeve

ke, Ke Deewj ie #es$eeW ceW efmLele meYeer keeee&ueeeW eje jepeYee<ee DeefOeefveece, 1963
SJeb jepeYee<ee efveece, 1976 kes efJeefYevve eeJeOeeveeW kes Devegheeueve kees megefveefMele kejves
kes efueS DeeJeMeke keee&Jeener keer ieF& ~ efveiece kes meYeer keeee&ueeeW ceW jepeYee<ee
keeee&vJeeve keer efmLeefle eee: meblees<epeveke jner Deewj jepeYee<ee kes eeesie kees ye{eJee
osves kee eeeme efvejblej peejer jne ~
22
49th Annual Report

The athletes from the Corporation, Smt. Gurmeet Kaur won Gold medal in
Javelin Throw, Mr. Sunil Goswami won Silver medal in Javelin Throw, Ms.
Harshini Kumari won Bronze medal in High Jump & Ms. Madhuri Gurnule
won Bronze medal in 10000 Meters at the 45th Open National Athletic
Championship held at Hyderabad in November 2005.
At the Inter-Institutional Carrom & Badminton championship, the LIC
Womens team reigned supreme by winning the team championship.
The domination of the Womens Badminton & Carrom teams was also
continued at the All India Public Sector Tournaments by winning the Gold
medal in the event of team championship.
The outstanding performance in the field of sports was recognized by
granting Out-of-Turn promotion to 9-employees in January 2006. The
sportspersons were also granted cash awards.
15(a) HRD/OD INITIATIVES/TRAINING

STATISTICS
The OD/HRD Exercise on Organisational Transformation and Customer
Orientation was initiated in 2005-06 with the objective of managing change
in the current competitive scenario. Change has to be internally driven
and the process to be built on humanistic and democratic values that seek
to improve Organizational effectiveness and employee commitment,
involvement and wellbeing. With this objective in view, a countrywide OD/
HRD Exercise had been planned covering nearly one lakh employees.
Programmes on OD/HRD Exercise on Organisational Transformation and
Customer Orientation were initiated in 2005-06. In the first phase
Training Profile
Training Centres
In-house Training
2005-2006
2004-2005
Management Development Centre
2230
2045
National Insurance Academy
2174
2057
7 Zonal Training Centres
31897
28676
TOTAL
36301
32778
External Training Institutes

Within the country
(ISB, XLRI, ASCI, IIM, etc.)
Special Initiatives:
z
Special customized Training Programme Marketing Strategies for

Senior Marketing Officers (Sr. Divisional Managers & Marketing
Managers) at Indian School of Business (ISB).
Programmes for Metro Branch Managers on Business Effectiveness,

six of them, were conducted at Management Development Institute
(MDI), Gurgaon in 2005-2006.
Customized Training Programme for Investment Department Officials

(20) of Central Office were conducted at Indian Institute of
Management (IIM), Ahmedabad
Special three day Training Programme on Selling Skills of Insurance

Professionals for Alternate Channel Officers by Amity School of
Insurance & Actuarial Science.
Two day Workshop on Capital Markets - An Overview for Top

Management - A Dun & Bradstreet Financial Education Solutions
Initiative conducted at MDC. Two Programmes were conducted.
Customized Technical Training Programme for Superintendent

Engineers and Executive Engineers conducted by Engineering Staff
College of India Faculty at Zonal Training Centre, Hyderabad.
Two Programmes for Trainers designed in consultation with ISTD

were conducted for Faculty Members of ZTCs, STCs, DTCs & ATCs.
23
1058
580
30
26
1088
606
37,389
33,384
Abroad (FALIA, AIM, LOMA/LIMRA,

IFTDO, SWISS RE, MUNICH RE, etc.)
TOTAL
GRAND TOTAL
Training of Field Personnel

As on 31st March 2006 there are 7 Zonal Training Centres, 25 Sales Training
Centres, 101 Divisional Training Centres and 520 Agents Training Centres.
We also have an On-line Training Facility for Imparting Pre-Recruitment
Training to Agents. Depending on the training needs, we also expose our
Agents and Development Officers to different External Training Institutes
(ETIs) for Specialized training.
During the Financial Year 2005-2006 the Development Officers and Agents
trained in these Training Centres and External Training Institutes are as
under:
(Phase-I) Training the Trainers Programmes for the Zones were

conducted.
No. of Personnel Trained
ZTCs
STCs
DTCs
ATCs
ETIs
Total
Development Officers
2107
1726
233
862
4928
Agents
6736
61261
30697
36162
2685
137541
Under the Mass Training Programme organized by the Branch/Divisional/

Zonal Offices, 4092 Development Officers and 85,703 agents were trained
during the financial year 2005-2006. Apart from the above the Divisional
Training Centres and Agents Training Centres imparted training to 85,666
and 1,07,041 prospective agents respectively.
15 (b) MANAGEMENT DEVELOPMENT

CENTRE
Management Development Centre, which is the Apex Training Institute of
LIC restructured the Training Programmes in four categories i.e. Induction
Programme, Special Programmes, Workshops and Non-LIC Programmes.
During the Financial Year 2005-06, MDC conducted a total of 87
programmes and training was imparted to 2230 officials.
16. OFFICIAL LANGUAGE

IMPLEMENTATION
To ensure Compliance of various provisions of Official Language Act, 1963
and Official Language Rules, 1976, necessary action was taken by all the
Offices situated in regions A, B and C. During the year all Offices of the
Corporation showed satisfactory progress with regard to implementation
of Official Language and concerted efforts continued to further increase
the use of Official Language.
17. DeefYeeebe$f ekeer keee&keueehe

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nsleg keeee&uee SJeb DeeJeeme kes Debleie&le efJeefYevve heefjeespeveeDeeW kes keee& eieefle hej nQ ~
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efouueer-II SJeb jepeecegBojer) Deewj 120 MeeKee keeee&ueeeW kee DeeOegefvekeerkejCe efkeee
ieee efpememes kegue DeeOegefveefkeke=le MeeKee keeee&ueeeW keer mebKee 508 nes ieeer nw ~
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keeee&ueeeW kee {ebeeiele keee& hetCe& efkeee ieee ~ 4 ceb[ue keeee&ueeeW SJeb 45 MeeKee
keeee&ueeeW kee keee& eieefle hej nw ~
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Fme Je<e& ceW efce[ueJesDej kee meHeue keeee&vJeeve ngDee ~ efce[ueJesDej nceejs Deveske henueW
pewmes hees&ue, Yegieleeve eJesMeej kes efueS Ske veepegke DeeOeejYetle megefJeOee nw ~
20. Deebleefjke Debkes#eCe

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nw ~ efveJesMe efJeYeeie kee Debkes#eCe Yeer meeLe-meeLe efkeee ieee ~
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ngS megOeej kes heefjhes#e ceW Debkes#eCe hewkespe kees Yeer meMekele efkeee ieee nw ~ Debkes#eCe
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ceW DeefveeefceleleeDeeW keer legjvle peevekeejer eyebOeve kees osves ceW meneeke neslee nw ~ Fmemes
efveiece keer keee&eCeeueer ces efvejblej megOeej kejves ces meneelee efceueer nw ~
21. efvejer#eCe
18. mecheoe efJeYeeie
Je<e& 2005-2006 kes oewjeve Yeejle keer meYeer MeeKeeDeeW, ceC[ue keeee&ueeeW leLee #es$eere
keeee&ueeeW kee efvejer#eCe efkeee ieee ~
Fme Je<e& efoveebke 31.3.2006 kees efveiece keer mecheoe mes mekeue jepemJe . 143.13
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leguevee ceW 10.50 keer Je=ef ope& ngF& ~
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ye{kej .90.38 kejes[ nes ieee, pees 3.17 Je=ef oMee&lee nw ~
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kece&eeefjeeW kees DeeJeemeere $e+Ce

efveiece kes kece&eeefjeeW kes efJeefJeOe DeeJeemeere $e+Ce eespevee leLee DeefYekelee&DeeW kees
DeeJeemeere $e+Ce eespevee kes Devleie&le kegue efveJesMe .114.32 kejes[ leLee
. 26.26 kejes[ eceMe: mJeerke=le efkeS ieS nw ~
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z
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yeercee efkemle Yegieleeve (ef[peerueer eceeefCele F&-jmeero keer lelkeeue GheueyOeer)

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DeefYekelee& hees&ue efvecveefueefKele MenjeWceW GheueyOe nw : cegbyeF&, esvveF&, keesuekeelee,
efouueer, nwojeyeeo, yeWieueesj, keevehetj, Yeesheeue, Denceoeyeeo, hegCes, "eCes ~
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keeee&ueeeW ceW efkeee ieee ~ nye MeeKee kes metevee eeweesefiekeer kes mebmeeOeve kee Gheeesie
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meeefyele nes jne nw ~
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efveegefkele keer mecee-mecee hej meceer#ee keer peeleer nw ~
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heefj<eo SJeb efveiece kes kece&eeefjeeW leLee DeefYekelee& yeue pewmes efJeefYevve Deeflemeefee
Gheee leLee ceeie&oMe&ve nQ ~
24
49th Annual Report

17. ENGINEERING ACTIVITIES
During the year the Corporation added 23 Branch Offices, 3 Divisional
Offices to house its offices, 187 residential units at 23 centres, 2 Investment
Buildings and 2 Zonal Training Centres. Apart from this, projects of Policy
Holders Housing Schemes, Investment Buildings, Offices and Quarters
for own use are in progress.
During the year one Zonal Office (WZO), 3 Divisional Offices (Amritsar,
Delhi-II & Rajamundry) and 120 Branch Offices were modernized, taking
the total number of modernized Branch Offices to 508. Infrastructure work
for Data Centre, Software Development Centre and 26 Satellite Offices
was completed. Work in respect of 45 Branch Offices and 4 Divisional
Offices were in progress.
One of the major infrastructure initiatives that came to a successful

completion in the current year is the implementation of middleware,
which is a critical infrastructure for many of our new initiatives, including
the Portal and Payment gateway.
20. INTERNAL AUDIT

The audit of all Branch, Divisional, Zonal Offices and Central Office
departments for the year 2005-06 has been duly completed as on
31.3.2006. We also conducted the concurrent audit of Investment
department on a continuous basis.
During the year, the Corporation invested Rs. 44.22 crore for construction
of buildings including PHHS.
In keeping with the practice of improving the system and procedures

through the use of Information Technology as a tool, audit packages
have been revamped for strengthening the audit activities. This
enables the functional managers besides audit department to report
the findings / irregularities immediately to the management for
corrective action with a view to ensuring continuous improvement in
the overall working of the Corporation.
18. ESTATES
21. INSPECTION
Gross Revenue from Estate Portfolio of the Corporation for the current
year as on 31.03.2006 is Rs. 143.13 crore as against Rs. 129.53 crore of
previous year ending 31.03.2005. This reflects a growth of 10.50 % over
the previous year.
During the year 2005-2006, the Inspection of all the Branches,

Divisional and Zonal Offices in India was carried out.
Net surplus generated for the year amounted to Rs. 90.38 crore as against
Rs. 87.61 crore in 2004-2005 showing a growth rate of 3.17%.
Besides effective vigilance administration and quick disposal of

vigilance cases, more emphasis was laid down on preventive vigilance
measures.
During the course of the year, 6 plots were purchased for construction of
our own office buildings.
Strict adherence to CVC guidelines is being ensured in the areas of

stores purchase and Building contracts.
Housing Loan to Employees
23. NOMINEE DIRECTORS
Under various staff housing schemes and agents housing scheme an

amount of Rs.114.32 crore and Rs. 26.26 crore was sanctioned to
employees and agents of the Corporation respectively.
19. INFORMATION TECHNOLOGY

INITIATIVES
Corporation launched its Enterprise Portal solutions for Customers, along
with a Payment Gateway, on 15.11.05. The Portal provides a number of
services on-line, 24 x 7. Some of the services offered are:
z Premium payment [with instant generation of digitally certified ereceipts]
z Change of address
z Policy status [along with bonus accrual information]
z Revival quotation for lapsed policies
z Loan/surrender quotation
z Maturity alert
A Portal for Agents was also launched simultaneously. At present the Agents
Portal is made available to the following cities: Mumbai, Chennai, Kolkata,
Delhi, Hyderabad, Bangalore, Kanpur, Bhopal, Ahmedabad, Pune, Thane.
Another major IT- driven initiative where we harnessed the power of network
to extend the concept of a Branch office was the new Satellite Office
initiative. The Satellite Offices are servicing outlets which utilize the IT
resources of a Hub branch over a network. The experience has been quite
encouraging.
25
22. VIGILANCE
The Corporation appoints Nominee Directors on the Board of the

Companies where it has substantial stake by way of Debt or Equity.
Nominees are officials of the Corporation who are in service or retired
and in few cases Non-officials have also been appointed. Adequate
systems are in place to review and guide the Nominee Directors from
time to time. Appointment of Nominee Directors is periodically
reviewed. Nominee Directors provide feedback with regard to
operations, problems, prospects and corporate governance standards
etc.
Being an integral part of the follow-up mechanism of the financial
institutions, the Nominee Directors report to the Corporation on
important matters discussed at the Board Meetings/other related
committee meetings or any other issue which deserves attention of
the Corporation. Points of concern raised by Nominee Directors in
their reports are taken up with the Company or jointly with other
Institutions if required. The Nominee Directors, however are
Independent Directors appointed as Non-executive Directors and are
not connected with day to day operational matters.
24. CORPORATE GOVERNANCE

Belief in and adherence to good Corporate Governance is an integral
part of the philosophy of LICs business conduct. The driving force
behind institutionalizing the practices of good Corporate Governance
are various proactive measures, initiatives and guidance by the
Government viz Board of Directors, Executive Committee, Audit
Committee, Investment Committee, Consumer Affairs Committee,
Building Advisory Committee, Zonal Advisory Boards, Divisional Level
Policyholders Councils and LICs Employees and Agency force.

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heefjeeueve #es$eeW ceW iegCeelceke megOeej ueeS ieS ~
27. #es$eere meueenekeej yees[&

eleske #es$e kes efueS #es$eere meueenkeej yees[& ieef"le efkeS ieS nQ, pees #es$e keer meerceeDeeW
kes efYelej efveiece kes mecegefele efJekeeme kees eYeeefJele kejves Jeeues meYeer ceeceueeW Deewj veerefle
meceer#ee kejves, Gve hej eee& kejves leLee Gve hej Deheveer mebmlegefle osves kes efueS me#ece nQ~
28. hee@euf emeer Oeejke heefj<eo

eleske ceC[ue ceW hee@efuemeer OeejkeeW keer heefj<eoW ieef"le keer ieF& nw ~ ceC[ue eyebOekeeW
eje Yespes ieS meYeer ceeceueeW hej hee@efuemeer OeejkeeW keer heefj<eoW eee& kejleer nw ~ eee&
efkeS ieS cegeW ceW hee@efuemeer OeejkeeW keer mesJee, yekeeee oeJes, ceC[ue ceW veJe JeJemeee keer
eieefle Deewj eeej ieefleefJeefOeeeB Deeefo nQ ~
29. peerJeve yeercee efveiece DeefOeefveece kes Devleie&le efveo&Ms e

Je<e& kes oewjeve peerJeve yeercee DeefOeefveece 1956 keer Oeeje 21 kes Debleie&le Yeejle mejkeej
mes keesF& efveos&Me eehle veneR ngDee ~
30. uesKee hejer#eke

Yeejle mejkeej kes hegJee&vegceesove mes ome HeceeX kees Je<e& 2005-2006 kes efueS JewOeeefveke
uesKee hejer#eke efveegkele efkeee ieee ~ HeceeX kes meePesoejeW kes veece leLee heles heefjefMe
ceW oMee&S ieS nQ ~
31. efJeeere Je<e& 2006-07 kes efueS eespevee

efJee Je<e& (2006-07) kes efueS efveiece ves veJe JeJemeee Gejesej Je=ef oMee&veW keer
eespevee jKeer nw ~ nceejs veJeJeJemeee yepe (2006-07) efvecve nw ~
3
hee@efuemeer
Skeue efeceerece (kejes[ ceW)
iewj-Skeue efeceerece (kejes[ ceW) - . 12,393.36
- 3,72,55,000
- . 12,021.63
32. DeeYeej eoMe&ve

Yeejleere peerJeve yeercee efveiece kes keeee&ueeeW ceW efvejer#eCe nsleg Deeeer efJeefYevve mebmeoere
meefceefleeeW, kesvere efJee ceb$eer, kesvere efJee jepeceb$eer (Jee, yeQefkebie SJeb yeercee),
efJee ceb$eeuee kes yeercee efJeYeeie, DeeefLe&ke keee& efJeYeeie SJeb yeercee efJekeeme eeefOekejCe
kees efJeefYevve cegeW hej Gvekes meefee meceLe&ve, meueen SJeb meneesie kes efueS Yeejleere
peerJeve yeercee efveiece neefo&ke OeveJeeo %eeefhele kejlee nw ~
Yeejleere peerJeve yeercee efveiece efveosMeke ceC[ue, keee&keejer meefceefle, efveJesMe meefceefle,
uesKee hejer#eCe meefceefle, GheYeeskelee keejesyeej meefceefle, YeJeve meueenkeej meefceefle, #es$eere
meueenkeej yees[& ceC[ue mlej kes hee@efuemeerOeejkeeW keer heefj<eoeW kes eefle ke=le%e nQ, efpevneWs
ves ceeie&oMe&ve SJeb Decetue megPeeJe efoS, efpememes efveiece eje meJeeieerCe efve<heeove ceW
DeleeefOeke meneesie efceuee ~
Yeejleere peerJeve yeercee efveiece Deheves ueeKeeW hee@efuemeerOeejkeeW kes eefle ke=le%e nw, efpevneWves
nce hej hegve: Yejesmee efkeee leLee mebie"ve kees Dehevee meceLe&ve peejer jKee ~
nceejs DeefYekelee&, efJekeeme DeefOekeejer, meHe kes meome leLee efJeefYevve mlejeW hej hetjs
osMe ceW Hewues eLece esCeer kes DeefOekeejer, efpevneWves efveiece kes hee@efuemeerOeejkeeW kees Ge
meblegef GheueyOe kejeves kes efueS hetjer ueieve mes keece efkeee, leLee Deeueese Je<e& ceW
mebie"ve kees efvejblej efJekeeme eehle kejvee mebYeJe yeveeee, Yeer eMebmee kes hee$e nQ ~
26
49th Annual Report

Good Corporate Governance has always inspired us to practice operational
transparency, information sharing, accountability and continuous dialogue
with all the stakeholders in addition to formulation of value-based policies
and practices at all levels. The sustained practice of good Corporate
Governance has enabled us to enhance our Brand Equity, strengthen the
confidence of stakeholders and maintain a healthy industrial climate within
the organization. This has led to a committed organizational focus on the
customer which in turn has contributed to a record growth in business.
The continuous practice of good Corporate Governance has enabled LIC
to withstand the pressure of competition by making it a dynamic and vibrant
organization.
28. POLICYHOLDERS COUNCIL

(PHC)
25. BOARD MEETINGS
Section 21 of Life Insurance Corporation Act, 1956 during the year.
Board meetings are generally held at the Corporate Office of LIC at Mumbai.
The Agenda for the meetings is prepared well in advance and provided to
the members for facilitating involved discussions during the meeting. As
per regulations, Board Meetings should be held at least once in a quarter.
However, during the last year 7 Board Meetings were held. In addition to
policy matters, Board provides strategic direction to the management,
critically monitors executive performance, oversees that financial discipline
is maintained, ensures accountability of the management to the
policyholders and also sees that the interest of the policyholders and other
stakeholders is well protected.
30. AUDITORS
Board members have access to any information that they may like to have
and the recommendations that may be prescribed or desired are
implemented within the time frame.
In order to implement the Corporate policies, guidelines and suggestions,
the Board has formed an Executive Committee, an Investment Committee,
a Building Advisory Committee, a Consumer Affairs Committee, and an
Audit Committee. Regular meetings of these committees are held on the
basis of the agenda prepared in advance.
26. CENTRAL MANAGEMENT

COMMITTEE
The Central Management Committee consists of all Heads of Department
of Central Office and all the Zonal Managers. The Committee was formed
to have a more involved decision making and to draw upon experience
and intellectual input from a cross-section of senior executives of the
Corporation. The dates of the meeting are decided before the beginning
of a quarter. These meetings are structured and the Agenda for the meetings
is circulated well in advance. Policy and Strategic issues are discussed
and appropriate steps are taken to reformulate the strategies if thought
necessary in view of the changes in the market environment. The Central
Management Committee has contributed significantly to formulation of
various operational policies, improving supervision and implementing the
decisions, which not only has substantially contributed to business growth
but also improved Service standards.
27. ZONAL ADVISORY BOARD (ZAB)

ZABs are constituted for each Zone, which are competent to discuss and
review all matters and policy affecting the proper development of the LIC
within the territorial limits of the Zone and make recommendations thereon.
27
Policyholders Councils are constituted in each division. PHCs discuss

all the matters which relate to the servicing of the policyholders. Items
discussed are Service to the Policyholders, Outstanding Claims,
Progress of New Business in the Division, Publicity activities etc.
29. DIRECTION UNDER LIC ACT

No directives were received from the Government of India under
With the previous approval of the Central Government, 10 firms were

appointed as Statutory Auditors for the year 2005-2006. The names
and address of firms are given in Appendix.
31. PLANS FOR FINANCIAL YEAR

2006-07
During the financial year of 2006-07, the Corporation has planned for
sustained growth in New Business. The New Business Annual budget
is as under:
BUDGET FOR THE FY 2006-07

TOTAL POLICIES
3,72,55,000
SINGLE PREMIUM (IN CRORE)
12,021.63
NON-SINGLE PREMIUM (IN CRORE) 12,393.36
32. ACKNOWLEDGEMENT
The Life Insurance Corporation of India expresses its sincere thanks
to the various Parliamentary Committees which visited its offices, the
Union Finance Minister, Union Minister of State for Finance
(Expenditure, Banking and Insurance), the Insurance Division of the
Ministry of Finance, Department of Economic Affairs and the Insurance
Regulatory and Development Authority for their active support, advice
and co-operation on various issues.
The Life Insurance Corporation of India, is thankful to the Board of
Directors, Executive Committee, Audit Committee, Investment
Committee, Consumer Affairs Committee, Building Advisory
Committee, Zonal Advisory Boards and the Divisional Level
Policyholders Councils, who have provided valuable suggestions and
guidance which have contributed to a record all round performance
by the Corporation.
The Life Insurance Corporation of India is also thankful to the millions
of its policyholders who have reposed their trust and continued their
support to the organization.
Our Agents, Development Officers, members of the staff and Class-I
Officers at various levels, spread across the country who have worked
wholeheartedly to provide satisfaction of higher order to the
Corporations policyholders and have made it possible for the
organization to achieve continued growth during the year under review,
deserve appreciation.
er. Smed . efJepeeve
T. S. VIJAYAN
[er. kes. cesnjes$ee
D. K. MEHROTRA
efveiece kes meome

er. Lee@ceme cewLet
THOMAS MATHEW T.
Deej. kes. peesMeer

R. K. JOSHI
9 veJebyej, 2006
9th November, 2006
cegbyeF&.
Mumbai.
28
49th Annual Report

heefjCeeceeW kee meejebMe
SUMMARISED RESULTS
2005-2006
29
2004-2005
veJe JeJemeee
Je<e& kes oewjeve
NEW BUSINESS
for the year:
INDIVIDUAL ASSURANCE
yeercee Oeve
ke) yeerces
Ke) Jeeef<e&efkeeeB
hee@efueefmeeeW keer mebKee (ueeKe ceW)
ke) yeerces
Ke) Jeeef<e&efkeeeB
ie) peerJeve megj#ee
Sum Assured
mecetn eespeveeSB
GROUP SCHEMES:
yeercee Oeve
Sum Assured
eefleJe<e& Jeeef<e&efkeeeB
Annuities per annum
eespeveeDeeW keer mebKee
No. of. Schemes:
mecetn yeercee
Group Insurance
meeceeefpeke megj#ee mecetn eespeveeSB
Social Security Group Schemes
mecetn mesJeeefveJe=efe
Group Superannuation
peerJeveeW keer mebKee (ueeKe ceW)
No. of. Lives: (in lakh)
mecetn yeercee
Group Insurance
50.56
38.87
meeceeefpeke megj#ee mecetn eespeveeSB
Social Security Group Schemes
63.41
42.13
0.71
0.43
eeuet JeJemeee
Je<e& keer meceeefhle hej
BUSINESS IN FORCE
At the end of the year:
INDIVIDUAL ASSURANCE
yeercee Oeve SJeb yeesveme

ke) yeerces
Ke) Jeeef<e&efkeeeB
hee@efueefmeeeW keer mebKee (ueeKe ceW)
ke) yeerces
Ke) Jeeef<e&efkeeeB
Sum Assured & Bonus

1535439.60
1288468.80
mecetn eespeveeSB
GROUP SCHEMES:
yeercee Oeve
eefleJe<e& Jeeef<e&efkeeeB
a) Assurance
b) Annuities
(. kejes[ ceW)
(. kejes[ ceW)
(Rs. in crore)
(Rs. in crore)
288225.75
183526.50
26.73
15.43
No. of. Policies (in lakh)

a) Assurance
315.40
235.56
b) Annuities
0.05
0.05
c) Jeevan Suraksha
0.41
4.13
177317.32
117662.56
91.10
82.50
11718
10651
6315
7538
127
231
a) Assurance
b) Annuities
1296.16
1189.80
c) Jeevan Suraksha
3208.08
3136.27
1835.77
1649.35
No. of. Policies (in lakh)

a) Assurance
b) Annuities
9.79
9.31
19.44
19.38
Sum Assured
Annuities per annum
199427.16
2189.28
136286.92
1916.64

mecetn yeercee
No. of Schemes:
Group Insurance
109995
6135
106912
7321
peerJeveeW keer mebKee (ueeKe ceW)

mecetn yeercee
No. of lives (in lakh)

Group Insurance
302.71
12.52
306.50
12.73
c) Jeevan Suraksha

heefjCeeceeW kee meejebMe (peejer)
SUMMARISED RESULTS (Contd.)

Deee
INCOME
2005-2006
2004-2005
(. kejes[ ceW) (Rs. in crore)

eLece Je<eeae eerefceece
First Year Premium
efheues Je<e& hej
Percentage Increase over
eefleMele Je=ef
Previous Year
hejJeleea eerefceece
Renewal Premium
Skeue eerefceece SJeb cebpetj
Single Premium & Consideration
Jeeef<e&efkeeeW kes efueS eefleHeue
for Annuities Granted
Jeefkeleiele heWMeve eespeveeeW
Individual Pension Schemes
First Year Premium
hejJeleea eerefceece
Renewal Premium
cebpetj Jeeef<e&efkeeeW kes efueS eefleHeue
Consideration for Annuities Granted
mecetn yeerces
Group Schemes
mecetn yeercee eerefceece

mecetn mesJee - efveJe=efe eerefceece
mebyebOo JeJemeee eerefceece
12805.56
10779.21
18.80%
-0.98%
56915.71
49865.46
1340.90
684.05
36.95
312.81
1484.27
1243.39
173.93
209.93
Group Insurance Premium
4669.76
4019.57
Group Superannuation Premium
2946.11
3723.75
LINKED BUSINESS PREMIUM
10386.01
4245.20
kegue eerefceece Deee
Total Premium Income
90759.20
75083.37
efheues Je<e& hej
Percentage Increase over
eefleMele Je=ef
Previous Year
20.88%
18.25%
efveJesMeeW mes Deee
Income from Investments
35478.64
32977.50
efJeefJeOe
Miscellaneous
5909.04
4331.87
kegue Deee
Total Income
132146.88
112392.74
peneB DeeJeMeke nes efheues Je<e& kes Deebke[s hegve&mecetnerle efkees iees nQ.
Previous year figures regrouped wherever necessary.
30
49th Annual Report

heefjCeeceeW kee meejebMe
SUMMARISED RESULTS
Jee
OUTGO
yeercee OeejkeeW kees Yegieleeve
Payments to Policy-holders
heefjhekeJelee oeJes
Claims by Maturity
mebKee (ueeKe ceW)
Numbers (in lakh)
jeefMe
Amount
ce=let oeJes
Claims by Death
mebKee (ueeKe ceW)
Numbers (in lakh)
jeefMe
2004-2005
115.63
109.83
24743.42
20358.34
5.27
5.22
Amount
3769.04
3303.19
Jeeef<e&efkeeeB
Annuities
1977.54
1651.48
DeYeheCe& Deeefo
Surrenders, etc.
3734.35
3322.74
34224.35
28635.75
31
2005-2006

heefjCeeceeW kee meejebMe (peejer)
SUMMARISED RESULTS (Contd.)

eyevOeve Jee
Expenses of Management
2005-2006
2004-2005
DeefYekelee&DeeW kees keceerMeve Deeefo
Commission etc. to Agents
7094.92
6245.16
kece&eeefjeesb kees Jesleve leLee ueeYe
Salary and other Benefits to Employees
3598.96
3452.40
Deve eyevOeve Jee
Other Expenses of Management
kegue
Total
Deve Jee
Other Outgo
Deve Jee (kej, Deejef#ele kees DevlejCe, Deeefo)
Other Outgo (Taxes, transfers to reserves, etc.)
kesv mejkeej kees eoe cetueve DeefOeMes<e kee heebe eefleMele
5% of Valuation Surplus paid to the Central Government
kegue
Total
kegue Jee
Total Outgo
hee@efuemeer oseleeSb
Policy Liabilities
DemebyebOo JeJemeee
Non Linked Business
Je<e& kes eejcYe ceW hee@efuemeer oseleeSb
Policy Liabilities at the beginning of the year
pees[: Jee mes Deee kee DeefOekee
Add: Excess of Income over Outgo
Je<e& kes Devle ceW hee@efuemeer oselee
Policy liability at the end of the year
efheues Je<e& hej eefleMele Je=ef
Percentage Increase over the previous year
mebyeb JeJemeee
Linked Business
Je<e& kes eejcYe ceW hee@efuemeer oseleeSb
Policy Liabilities at the beginning of the year
4225.10
371.57
pees[: Jee mes Deee kee DeefOekee
Add: Addition during the year
8090.18
3853.53
Je<e& kes Devle ceW hee@efuemeer oselee
Policy liability at the end of the year
efheues Je<e& hej eefleMele Je=ef
Percentage Increase over the previous year
2442.60
2534.79
13136.48
12232.35
4268.97
6942.50
621.77
696.60
4890.74
7639.10
52251.57
48507.20
381566.11
321387.98
69266.23
60178.13
450832.34
381566.11
18.15
18.72
12315.28
4225.10
191.48
1037.09
2005-06
2004-2005
Je<e& keer meceeefhle hej yekeeee oeJes
Outstanding Claims at the end of the year

heefjhekeJelee
Maturity
51.05
25.49
ce=leg
Death
185.39
164.75
kegue
Total
236.44
190.24
eyevOeve Jee kee kegue eerefceece Deee mes Devegheele
Ratio of Expenses of Management

To Total Premium Income
DeefYekelee&DeeW kees keceerMeve Deeefo
Commission etc. to Agents
7.82%
8.32%
kece&eeefjeeW kees Jesleve leLee Deve ueeYe
Salary and other benefits to Employees
3.97%
4.60%
eyevOeve kes Deve Jee
Other Expenses of Management
2.69%
3.38%
mekeue Jee Devegheele
Overall Expenses Ratio
14.47%
16.29%
yekeeee oeJeeW kee ose oeJeeW mes Devegheele
Ratio of Outstanding Claims To Claims payable
0.83%
0.80%
Deewmele peerJeve yeercee efveefOe hej eehle yeepe keer oj
Rate of Interest realised on Mean Life Insurance Fund
8.72%
9.93%
32
49th Annual Report

meejCeer veb. 1S:
veJe JeJemeee (Jeefkeleiele)
Table No. 1A
NEW BUSINESS (INDIVIDIUAL)
Yeejle ceW veJe JeJemeee
NEW BUSINESS IN INDIA
Je<e&
YEAR
hee@efueefmeeeW
yeercee Oeve eehe Jeeef<e&ke
keer mebKee mew.ve.efJe./e.Jee.
eerefceece
(. kejes[ ceW) (. kejes[ ceW)
No. of
Policies
Sum
Assured/
NCO/APA
(Rs. in
crore)
Annual
Premium
Receivable
(Rs. in
crore)
29284800
21817967
26456320
283763.74
179481.39
198707.12
4678
4577
6777
Yeejle kes yeenj veJe JeJemeee
NEW BUSINESS OUT OF INDIA
hee@efueefmeeeW
yeercee Oeve
(. kejes[ ceW)
No. of
Policies
Sum
Assured/
NCO/APA
(Rs. in
crore)
15157.76
11224.19
12540.82
13370
13807
11562
416.10
405.27
341.40
26.73
15.43
31.93
0.75
1.26
10.78
40842
413441
318761
270.07
3590.40
2826.63
35.78
320.15
342.87
35692
719085
170061
153.53
3378.88
990.90
1902505
1004633
-
304030
-
eehe Jeeef<e&ke
eerefceece
(. kejes[ ceW)
Annual
Premium
Receivable
(Rs. in
crore)
kegue veJe JeJemeee
TOTAL NEW BUSINESS
hee@efueefmeeeW
yeercee Oeve
(. kejes[ ceW)
eehe Jeeef<e&ke
eerefceece
(. kejes[ ceW)
No. of
Policies
Sum
Assured/
NCO/APA
(Rs. in
crore)
Annual
Premium
Receivable
(Rs. in
crore)
25.24
26.50
23.27
29298170
21831774
26467882
284179.84
179886.66
199048.52
15183.00
11250.69
12564.09
4678
4577
6777
26.73
15.43
31.93
0.75
1.26
10.78
11
23
0.06
0.16
0.04
40842
413452
318784
270.07
3590.46
2826.79
35.78
320.15
342.91
8.07
122.51
19.12
35692
719085
170061
153.53
3378.88
990.90
8.07
122.51
19.12
279.41
260.96
-
133.62
166.52
-
1902505
1004633
-
279.41
260.96
-
133.62
166.52
-
3612.97
-
273.37
-
304030
-
3612.97
-
273.37
-
2005-2006
2004-2005
2003-2004
General Annuity
2005-2006
2004-2005
2003-2004
hesvMeve
Pension
2005-2006
2004-2005
2003-2004
etefve mebyeefle : yeercee hueme
Unit Linked Bima Plus

2005-2006
2004-2005
2003-2004
Heegej hueme
Future Plus
2005-2006
2004-2005
2003-2004
peerJeve hueme
Jeevan Plus
2005-2006
2004-2005
2003-2004
33

meejCeer veb. 1yeer:
veJe JeJemeee (mecetn)
Table No. 1B
NEW BUSINESS (GROUP)

Je<e&
meomeeW keer mebKee

(ueeKe ceW)
yeercee Oeve/eefle Je<e& Jeeef<e&keer

(. kejes[ ceW)
No. of. Schemes
No. of members
(in lakh)
Sum Assured / Annuity per

annum. (Rs. in crore)
2005-2006
18,033
113.97
1,77,317.32
2004-2005
18,189
81.00
1,17,662.56
2003-2004
15,797
44.48
1,28,047.85
2005-2006
127
0.71
91.10
2004-2005
231
0.43
82.50
2003-2004
344
1.72
214.90
YEAR
mecetn yeercee
(meeceeefpeke megj#ee meefnle)
Group Insurance
(incl. Social Security)
mecetn mesJee efveJe=efe

34
49th Annual Report

meejCeer veb. 2
Table No. 2
meeceeefpeke megj#ee mecetn eespevee kes Devleie&le JeJemeee kes Devegmeej meceeefJe peerJeveeW keer mebKee kee efJeJejCe (Devegceesefole JeJemeee)
STATEMENT OF LIVES COVERED UNDER SOCIAL SECURITY GROUP SCHEMES (APPROVED OCCUPATIONS)
Je<e& 2005-06 kes oewjeve

vees peerJeveeW keer mebKee
(veF& leLee Jele&ceeve eespeveeDeeW
kes Devleie&le)
35
Sr.
No.
JeJemeee
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
yeer[er cepeotj
F& Yeer kes cepeotj
ye{F&
ceeseer
cegDeej
kegueer
nmleefMeuhe keejeriej
nLe kejOee yegvekej
nLe kejOee SJeb Keeoer yegvekej
m$eer opeea
ece& Geesie keeceiej
mesJee mes mebye heehe[ cepeotj
Meejerefjke Dehebie mJe jespeieejer Jeefkele
eeLeefceke ogiOe Glheeoke
efjkeMee eeueke / Dee@esefjkeMee eeueke
meHeeF& kece&eejer
veceke Glheeoke
leWog heee mebeenke
Menjer iejerye kes efueS eespevee
pebieue cepeotj
jsMece Glheeove cepeotj
lee[er efvekeeueves Jeeues
efyepeueer kejOeo kece&eejer
ogie&ce eeceerCe heJe&leere #es$e keer ceefnueeSb
KeeC[mejer/Mekekej pewmes Keee heoeLe&
Jem$e
ueke[er Glheeo
keeiepe Glheeo
ece& Glheeo
heeF&
jye[ SJeb keeseuee Glheeo
ceesceyeeer Glheeo
efKeueewves efvecee&Ce
ke=<eke
heefjJenve eeueke
heefjJenve kece&eejer
eeceerCe iejerye
efvecee&Ce keeceieej
heeKee keeceieej
veeefjeue eefeee kejvesJeeues
DeebieveJee[er efMe#eke/meneeke
keesleJeeue
huee@sMeve cepeotj
BEEDI WORKERS
kegue Yeejle ceW
ALL INDIA TOTAL
OCCUPATIONS
31.3.2006 kees
meceeefJe kegue
peerJeveeW keer mebKee
JBY NEW LIVES

TOTAL LIVES
(UNDER NEW &
COVERED AS
EXISTING SCHEMES) AT 31.3.2006
DURING 2005-06
BRICK KILN WORKERS

CARPENTERS
COBBLERS
FISHERMEN
1022
440141
58
110
239
10
103
21758
39841
HAMALS
10695
12440
HANDICRAFT ARTISANS
51130
96704
147304
334886
45207
75242
23
1258
HANDLOOM WEAVERS
HANDLOOM & KHADI WEAVERS
LADY TAILORS
LEATHER & TANNERY WORKERS
PAPAD WORKERS ATTACHED TO SEWA
80973
PHYSICALLY HANDICAPPED SELF-EMPLOYED PERSONS
1803
149798
766186
PRIMARY MILK PRODUCERS

RICKSHAW PULLERS/AUTO DRIVERS
SAFAI KARMACHARIS
SALT GROWERS
TENDU LEAF COLLECTORS
SCHEME FOR THE URBAN POOR
FOREST WORKERS
SERICULTURE
TODDY TAPPERS
1211
4375
393
20667
161
9324857
400583
653154
317
5302
29748
1334
6596
44240
53038
HILLY AREA WOMEN
2065
FOOD STUFFS AS KHANDSARI/SUGAR
TEXTILE
WOOD PRODUCTS
193
385
PAPER PRODUCTS
96
96
POWERLOOM WORKERS
LEATHER PRODUCTS
PRINTING
RUBBER & COAL PRODUCTS
CANDLE PRODUCTS
26
TOYS MANUFACTURE
74804
143069
TRANSPORT DRIVERS ASSOCIATION
483
1196
TRANSPORT KARMACHARIS
113
988
595777
1515486
651
1138
AGRICULTURISTS
RURAL POOR
CONSTRUCTION WORKERS
FIRE CRACKERS WORKERS
COCONUT PROCESSORS
AANGANWADI TEACHERS
291018
477266
KOTWAL
PLANTATION WORKERS
408
59
59
1838493
14089793

meejCeer veb. 3S
eeuet JeJemeee (Jeefkeleiele)
Table No. 3A
BUSINESS IN FORCE (INDIVIDUAL)

Yeejle ceW eeuet JeJemeee
Yeejle kes yeenj eeuet JeJemeee
BUSINESS IN-FORCE IN INDIA BUSINESS IN-FORCE OUT OF INDIA
Je<e&
YEAR
hee@efueefmeeeW
yeercee Oeve eehe Jeeef<e&ke
eerefceece
(. kejes[ ceW) (. kejes[ ceW)
No. of
Policies
Sum
Assured/
NCO/APA
(Rs. in
crore)
Annual
Premium
Receivable
(Rs. in
crore)
2005-2006
179563856 1280159.24
2004-2005
2003-2004
hee@efueefmeeeW
yeercee Oeve
(. kejes[ ceW)
eehe Jeeef<e&ke
eerefceece
kegue eeuet JeJemeee
TOTAL BUSINESS IN-FORCE
hee@efueefmeeeW
yeercee Oeve
keer mebKee. mew.ve.efJe./e.Jee.
(. kejes[ ceW)
eehe Jeeef<e&ke
eerefceece
(. kejes[ ceW)
145.00 179662768 1282467.87
77448.43
No. of
Policies
Sum
Assured/
NCO/APA
(Rs. in
crore)
Annual
Premium
Receivable
(Rs. in
crore)
No. of
Policies
Sum
Assured/
NCO/APA
(Rs. in
crore)
Annual
Premium
Receivable
(Rs. in
crore)
77303.43
98912
2308.64
162950920 1029839.55
68700.99
100007
2213.48
137.16 163050927 1032053.03
68838.15
153921144
925033.33
62333.71
93853
2038.97
131.42 154014997
927072.30
62465.13
2005-2006
979264
1296.16
107.32
979266
1296.16
107.32
2004-2005
930568
1189.80
89.01
930570
1189.80
89.01
2003-2004
998001
1406.02
1877.51
998003
1406.02
1877.51
General Annuity
hesvMeve
Pension
2005-2006
1943639
3206.79
1398.45
178
1.29
1943817
3208.08
1398.45
2004-2005
1937632
3135.07
1617.05
198
1.20
1937830
3136.27
1617.05
2003-2004
1594946
8610.57
1454.48
194
1.35
1595140
8611.92
1454.48
2005-2006
793548
3206.39
173.84
793548
3206.39
173.84
2004-2005
880452
4163.75
187.88
880452
4163.75
187.88
2003-2004
172693
1009.69
19.56
172693
1009.69
19.56
etefve mebyeefle : yeercee hueme

Unit Linked Bima Plus
Heegej hueme
Future Plus
2005-2006
2815674
533.40
209.40
2815674
533.40
209.40
2004-2005
1004285
263.59
69.31
1004285
263.59
69.31
2003-2004
2005-2006
304940
3581.58
262.33
304940
3581.58
262.33
2004-2005
2003-2004
peerJeve hueme
Jeevan Plus
36
49th Annual Report
meejCeer veb. 3yeer
Table No. 3B
eeuet JeJemeee (mecetn)
BUSINESS IN FORCE (GROUP)
Je<e&
meome keer mebKee

(ueeKe ceW)
yeercee Oeve/
mew.ve.efJe./e.Jee.
(. kejes[ ceW)
No. of. Schemes
No. of members
(in lakh)
Sum Assured /
NOC / APA
(Rs. in crore)
Premium Income
(Rs. in crore)
2005-2006
109995
302.71
199427.16
4669.76
2004-2005
106912
306.50
136286.92
4019.57
2003-2004
100051
252.46
143398.20
3617.38
2005-2006
6135
12.52
2189.28
2946.11
2004-2005
7321
12.73
1916.64
3723.75
2003-2004
7232
12.34
1705.50
3949.99
YEAR
eerefceece Deee
(. kejes[ ceW)
mecetn yeercee (meeceeefpeke megj#ee kes meeLe)

Group Insurance (incl. Social Security)
mecetn mesJee efveJe=efe

37
38
39
Total
kegue
In India
Yeejle ceW
Linked Plan - Jeevan Plus
efuebke[ hueeve-peerJeve hueme
Total
kegue
In India
Yeejle ceW
Linked Plan - Future Plus
efuebke[ hueeve-Heegej hueme
Total
kegue
In India
Yeejle ceW
Unit Linked Plans - Bima Plus
etefve efuebke[ hueeve-yeercee hueme
Total
kegue
Out of India
Yeejle kes yeenj
In India
Yeejle ceW
Annuity Contracts etc :
Jeeef<e&keer mebefJeoeeW, Deeefo
Total
kegue
Out of India
Yeejle kes yeenj
In India
Yeejle ceW
Ordinary Policies **
meeOeejCe hee@efueefmeeeB
(1)
Table - 4
meejCeer veb. 4
(Rs.)
(3)
(Rs.)
(2)
304030
304030
1902505
1902505
35692
35692
4678
4678
29298170
13370
36129711546
36129711546
2794133107
2794133107
1535288454
1535288454
267328621
267328621
2841798424956
4161024956
2837637400000
Sum insured and

Annuities per annum
Number of
policies
29284800
yeercee-jeefMe leLee
Jeeef<e&efkeeeB eefleJe<e&
hee@efueefmeeeW keer
mebKee
10397560359
10397560359
84636119675
84636119675
100165534
100165534
1429322455
1429322455
13408967089
36284008
13372683081
(Rs.)
(4)
Single
Premiums*
Skeue
eerefceece*
2733712466
2733712466
1336168535
1336168535
80652137
80652137
7476399
7476399
151829997257
252367174
151577630083
(5)
Yearly Renewal
Premium
Jeeef<e&ke hejJeleea
eerefceece
New life insurance business in respect of which premium has been paid during the year
veJe peerJeve yeercee JeJemeee efpemekee eerefceece Je<e& kes oewjeve Deoe efkeee ieee nw
ehe$e [er[er Form DD

hee@efuemeer kes yeejs ceW meebefJeefOeke efJeJejCe
304940
304940
2815674
2815674
793548
793548
979266
979264
179662768
98912
179563856
(Rs.)
(6)
Number of
Policies
mebKee
35815815000
35815815000
5334042000
5334042000
32063940290
32063940290
12961583244
9252
12961573992
15281182256527
27637864585
15253544391942
(Rs.)
(7)
Sum insured with

Bonuses and
Annuities per annum
yeesveme meefnle
13867053704
13867053704
87494009565
87494009565
2497185546
2497185546
2264099996
1729506
2262370490
710951967416
1324872164
709627095252
(8)
Premium income
for which credit
has been taken in
the Revenue
Account
eerefceece Deee pees

jepemJe uesKes ceW
efoKeeF& ieF& nw
Je<e& keer meceeefhle hej kegue eeuet yeercee JeJemeee
Total life insurance business in force at the end of the year
49th Annual Report
hee@efuemeer kes yeejs ceW meebefJeefOeke efJeJejCe
127
127
18033
18033
40842
40842
911053610
911053610
1773173158000
1773173158000
***
20942404999
20942404999
16653864185
16653864185
310010807
310010807
(Rs.)
(4)
(Rs.)
(3)
(2)
Single
Premiums*
Sum insured and

Annuities per annum
Number of
policies
Skeue
eerefceece*
mebKee
8015039963
8015039963
27930014508
27930014508
357776668
357776668
(Rs.)
(5)
Yearly Renewal
Premium
Jeeef<e&ke hejJeleea
eerefceece
New life insurance business in respect of which premium has been paid during the year
veJe peerJeve yeercee JeJemeee efpemekee eerefceece Je<e& kes oewjeve Deoe efkeee ieee nw
21892852608
21892852608
1994271614478
1994271614478
32080744287
12874572
32067869715
(Rs.)
(7)
Sum insured with

Bonuses and
Annuities per annum
yeesveme meefnle
29461091991
29461091991
46697616838
46697616838
14687341795
14687341795
Premium income
for which credit
has been taken in
the Revenue
Account
(Rs.)
(8)
eerefceece Deee pees

jepemJe uesKes ceW
efoKeeF& ieF& nw
* including consideration for immediate or deferred annuities and all other premiums paid at the outset where no subsequent premium is payable
** Ordinary Policies indicate Individual Insurances
*** Notional Cash Option = 270,06,97,087
6135
6135
109995
109995
1943817
178
1943639
(6)
Number of
Policies
mebKee
Je<e& keer meceeefhle hej kegue eeuet yeercee JeJemeee
Total life insurance business in force at the end of the year
* (lelkeeue DeLeJee efJeuebefyele Jeeef<e&efkeeeW kes eefleHeue Deewj Deve meYeer eerefceeceeW meefnle pees Meg ceW ner efoes peeles nQ Deewj peneB yeeo kes eerefceece ose vener nesles)
** (meeOeejCe heeefuemeereeB Jeefkeleiele yeerceeW kee mebkesle kejleer nw)
*** mewOoebefleke vekeo efJekeuhe 270,06,97,087
Total
kegue
Group Annuity Contracts, etc.
mecetn Jeeef<e&ke meefJeoeeW, Deeefo
Total
kegue
Group Insurance Policies
mecetn yeercee hee@efueefmeeeB
Total
kegue
Out of India
Yeejle kes yeenj
In India
Yeejle ceW
Jeevan Suraksha
peerJeve megj#ee
(1)
Table - 4 (Contd.)
meejCeer veb. 4 (peejer)
40
49th Annual Report

meejCeer veb. 5
Table No. 5
Je<e&
YEAR
2005-2006
2004-2005
2003-2004
peerJeve efveefOe, kegue DeefOeMes<e, kesv mejkeej kees eoe efnmmee SJeb eoe kej
LIFE FUND, TOTAL SURPLUS, SHARE OF SURPLUS TO CENTRAL GOVERNMENT AND TAXES PAID
peerJeve efveefOe
Life Fund
cetueve DeefOeMes<e
(peerJeve)
kesv mejkeej kees eoe

5% efnmmee
(peerJeve JeJemeee)
100% efnmmee (hetBpeer ceeseve
kesv mejkeej kees

SJeb efve. Jee. JeJemeee)
mejkeej kees eoe

kej keer jeefMe
(peerJeve)
Valuation Surplus
(Life)
Surplus
Retained
5% Share paid to
Central Govt. (Life
Business)
100% Share paid to

Central Govt. (CRAC
Business)
Taxes paid to
Government
(Life)
12463.00
27.24
621.77
3967.75
385791.21
13951.69
19.66
696.60
5619.24
321759.55
10987.60
24.98
548.13
1506.28
463147.62
41
jeskee ieee DeefOeMes<e

meejCeer veb. 6
31 ceee& 2006 kees efveJesMe
Table No. 6
INVESTMENTS AS AT 31ST MARCH, 2006

(. kejes[ ceW)
Rs. in crore
Investment in India
Yeejle ceW efveJesMe

I
$e+Ce
Loan
57534.93
II
Mesej yeepeej eefleYetefleeeB
II
Stock Exchange Securities
462237.61
III
Deve efveJesMe
III
Other Investments
TOTAL (In India)
kegue (Yeejle ceW)
3293.18
523065.72
Yeejle kes yeenj efveJesMe
Investment out of India
$e+Ce
Loan
117.77
II
Mesej yeepeej eefleYetefleeeB
II
Stock Exchange Securities
793.77
III
DeeJeemeere mecheefeeeB
III
House Property
35.58
IV
Deve efveJesMe
IV
Other Investments
4.41
TOTAL (out of India)
kegue (Yeejle kes yeejn)

kegue pees[ (Yeejle ceW SJeb Yeejle kes yeenj) [mekeue]
GRAND TOTAL (in India & Out of India) [GROSS]
meejCeer veb. 7
efJeefYevve DeeOeeefjle mebjeveemeefnle leLee meceepeesvcegKe keejCe

efJeefYevve nefmleeeW kees Deefece efoS ieS $e+Ce Deewj $e+Cehe$e
Table No. 7
LOANS AND DEBENTURES ADVANCED TO

VARIOUS ENTITIES FOR INFRASTRUCTURE & SOCIAL PURPOSE
951.53
524017.25
2005-2006 Je<e& ceW

oer ieF& Deefece jeefMe
(. kejes[)
Amount Advanced
During 2005-2006
(Rs. in crore)
1.
1.
efJeegle
2.
DeeJeeme
Power
8471.90
2. Housing
ke)
DeeJeeme eespeveeDeeW kes efueS jepe mejkeejeW kees efoes iees $e+Ce
(a)
Loans to State Governments for Housing Schemes
493.60
Ke)
efMeKej menkeejer DeeJeeme efJee meefceefleeeB Deewj
(b)
Loans to Apex Co-operative Housing Finance
45.37
ie)
Deve kees efoes iees $e+Ce

ng[kees, peerJeve yeercee efveiece ie=n efJee ceee&efole,
Se.[er.SHe.meer. Deeefo ceW $e+Ce he$e
(c)
Societies and others

Debentures of HUDCO LIC Hsg. Finance Ltd.,
HDFC etc.
3925.00
3.
peueehetefle& Deewj ceue-efvekeeme eespeveeSB
3.
Water Supply & Sewerage Schemes
4.
heefjJenve
4.
Transport
5.
Deve DeeOeeefjle mebjeveeSB
5.
kegue
Total
Other Infrastructure
26.16
128.00
760.81
13850.84
42
49th Annual Report

meejCeer veb. 8
oeJeeW kee efveheeve
Table No. 8
CLAIMS SETTLEMENT
Je<e& kes oewjeve efveheeS iees oeJes

Claims settled during the year
Je<e&
(yeer) ce=leg
(B) Death
jeefMe
. kejes[ ceW
mebKee
ueeKe ceW
Number
(in lakh)
jeefMe
. kejes[ ceW
YEAR
Number
(in lakh)
Amount
(Rs. in crore)
2005-2006
115.58
24724.58
5.27
3748.40
2004-2005
109.83
20355.18
5.22
3287.36
98.73
16660.96
4.80
2946.24
2003-2004
43
mebKee
ueeKe ceW
(S) heefjhekeJelee
(A) Maturity
Amount
(Rs. in crore)
heefjefMe
efveiece kes meome
eer er. Sme. efJepeeve, DeOe#e, (03.05.2006 mes)
eyebOe efveosMeke (24.01.2005 mes 02.05.2006 leke)
eer S. kes. Megkeue, DeOe#e (01.07.2005 mes 30.4.2006 leke)
eer [er. kes. cesnjes$ee, eyebOe efveosMeke (01.07.2005 mes)
eer Leewceme cesLet er, eyebOe efveosMeke (24.03.2006 mes)
eer kes. eerOej, eyebOe efveosMeke (09.12.2004 mes 31.01.2006 leke)
eer efJeveeso jee (19.06.2006 mes)
[e@. DejefJebo efJejceeveer
eerceleer heg<hee efieefjceepeer
[e@. ieewlece yeDee
keee&keejer meefceefle kes meome

eer Leewceme cewLet er, eyebOe efveosMeke (24.03.2006 mes)
efveJesMe meefceefle kes meome

eer efJeveeso jee (19.06.2006 mes)
eer peer. Sve. DeeJeeue, efveegkele efyeceekebke
[e@. DejefJevo efJejceeveer
eer Leewceme cewLet er, eyebOe efveosMeke (efJeMes<e DeefleefLe)
APPENDIX
Shri T. S. Vijayan,Chairman (from 03.05.2006)
Managing Director(from 24.01.2005 to 02.05.2006)
Shri A.K. Shukla, Chairman (from 01.07.2005 to 30.04.2006)
Shri D.K. Mehrotra, Managing Director(from 01.07.2005)
Shri Thomas Mathew T., Managing Director(from 24.03.2006)
Shri K. Sridhar, Managing Director (from 09.12.2004 to 31.01.2006)
Shri Vinod Rai (from 19.06.2006)
Shri V.P. Shetty,
Shri R.K. Joshi
Shri Amitav Kothari
Dr. Arvind Virmani
Dr. A. Jayagovind
Smt. Pushpa Girimaji
Dr.(Ms.) Swati Piramal
Dr. Gautam Barua
MEMBERS OF THE EXECUTIVE

COMMITTEE
Managing Director(from 04-07-2005 to 02.05.2006)
Shri A.K. Shukla, Chairman (from 01.07.2005 to 30.04.2006)
Shri D.K. Mehrotra, Managing Director(from 01.07.2005)
Shri Thomas Mathew T.,Managing Director(from 24.03.2006)
Shri V.P. Shetty
Shri R.K. Joshi
MEMBERS OF THE INVESTMENT

COMMITTEE
Shri A.K. Shukla, Chairman(from 01.07.2005 to 30.04.2006)
Shri D.K. Mehrotra (from 01.07.2005)
Shri Vinod Rai (from 19.06.2006)
Shri G.N. Agrawal, Appointed Accuary
Shri V.P.Shetty
Shri R.K.Joshi
Dr. A.Jayagovind
Dr. Arvind Virmani
Shri Thomas Mathew T., Managing Director (Special Invitee)
44
49th Annual Report
YeJeve meueenekeej meefceefle kes meome

eer Leewceme cewLet er, eyebOe efveosMeke (24.03.2006 mes)
[e@. ieewlece yeDee
eer kes. er. iegcegKeer (28.6.2006 mes)
eer Jeee. Sve. jececegefle& (28.6.2006 mes)
eer [er. kes. cesnjes$ee, eyebOe efveosMeke (efJeMes<e DeefleefLe)
MEMBERS OF THE BUILDING

ADVISORY COMMITTEE
Shri A.K. Shukla, Chairman(from 01.07.2005 to 30.04.2006)
Shri Thomas Mathew T., Managing Director(from 24.03.2006)
Dr. Gautam Barua
Shri K.T. Gurumukhi (from 28.06.2006)
Shri Y.N. Ramamurthy (from 28.06.2006)
Shri D.K. Mehrotra, Managing Director (Special Invitee)
Debkes#eCe meefceefle kes meome
MEMBERS OF THE AUDIT COMMITTEE

[e@. ieewlece yeDee
Shri Amitav Kothari
GheYeeskelee keejesyeej meefceefle kes meome

eer Leewceme cesLet er, eyebOe efveosMeke (24.03.2006 mes)
eer heer. kes. DeenuetJeeefueee
[e@. DeCeesoe yeepeheF&
eer DeeMeglees<e DeeJeeue
[e@. Deveble Mecee&
eerceleer Deej. heeJe&Leer
eer Jeee. peer. cegjueerOejve
eer mete&keeble Sme. hee"ke
Dr. Gautam Barua

Dr. (Ms.) Swati Piramal
MEMBERS OF THE CONSUMER

AFFAIRS COMMITTEE
Managing Director(from 18.03.2005 to 02.05.2006)
Shri D.K.Mehrotra, Managing Director (from 01.07.2006)
Shri Thomas Mathew T, Managing Director (from 24.03.2006)
Shri P.K.Ahluwalia
Dr. Arunodaya Bajpai,
Shri Asutosh Agarwal
Dr. Anant Sharma
Smt. R.Parvathi
Shri Y.G.Muralidharan
Shri Suryakant S. Pathak
#es$eere meueenekeej yees[& kes Jele&ceeve meome
PRESENT MEMBERS OF ZONAL

ADVISORY BOARDS
ceOe #es$e
CENTRAL ZONE

eer Dees. yeer. efceee
eer meleerMe Depecesje
eer ekeeMe DeeJeeue
eer IeveMeece Mesj
[e@. (megeer) jpeveer ieghlee
eer jefJe kegceej DeeJeeue
eer ceebieer ueeue oiee
[e@. Sme. meer. ef$ehee"er
eer Deej. Jeer. jeJe, #es$eere eyebOeke, (heosve meome)
45
Shri T.S.Vijayan,Chairman
Shri O.B.Mishra
Shri Satish Ajmera
Dr.Prakash Agrawal
Shri Ghan Shayam Sher
Dr.(Ms) Rajani Gupta
Shri Ravi Kumar Agrawal
Shri Mangi Lal Daga
Dr. S.C. Tripathi
Shri R.V.Rao, Zonal Manager, (Ex Officio Member)

hetJeea #es$e
[e@. vegue Deceerve
eer efJeece yeesme
[e@. mebleesMekegceej yesmeje
[e@. iegefvev oeme
[e@. mebleesMekegceej DeeJeeue
eerceleer ceOegjeveer
eer ecelesMe e. jee
eer Sme. heer. vesheke
eer ieeve ekeeMe
eerceleer pes. peeeue#ceer
eer Sue. Sce. ueesneveer, #es$eere eyebOeke, (heosve meome)
Gej ceOe #es$e

[e@. DeMeeske Mecee&
eer peeJeso DeKlej
eer jefJe DeeJeeue
[e@. Jeer. kes. Mecee&
eerceleer veer meen
[e@. efHeueesceervee efje[&me
eer kes. Sue. ieghlee
[e@. meer. [er. efmebnd
eer Jeer. kes. efmevne, #es$eere eyebOeke, (heosve meome)
EASTERN ZONE
Shri T.S.Vijayan, Chairman
Dr. Nurul Amin
Shri Vikram Bose
Dr. Santoshkumar Besra
Dr. Gunindra Das
Shri Santoshkumar Agarwal
Smt. Madhurani
Shri Pramatesh Ch. Roy
Shri S.P.Nepak
Shri Gyan Prakash
Smt. J. Jayalakshmi
Shri L.M. Lohani, Zonal Manager, (Ex-Officio Member)
NORTH CENTRAL ZONE

Shri T.S.Vijayan,Chairman
Dr. Ashok Sharma
Prof. Javaid Akhtar
Shri Ravi Agarwal
Dr.V.K. Sharma
Smt.Neeru Sah
Dr. Philomena Richards
Shri K.L.Gupta
Dr.C.D.Singh
Shri V.K.Sinha, Zonal Manager, (Ex- Officio Member)
Gejer #es$e
NORTHERN ZONE

eer [er. meer. heble
[e@. Deveble Mecee&
eer DeefJeveeMe eeshe[e
eer megveerue kegceej yemmeer
[e@. kes. kes. DeiejJeeue
eer keefveMke ieghlee
[e@. Deefveue kees"ejer
[e@. (eerceleer) Yepeve keewj
eer meweo j]pee Meen ceoeveer
eer DeMeeske Meen, #es$eere eyebOeke, (heosve meome)
oef#eCe ceOe #es$e

eer Jeer. JeerjYe jepeg
eer Jeer. Jeer. yeeueke=<Ce jeJe
megeer ceerje veeeke
eer Sce. jeceieesheeue
eer Deej. Sme. veeieYet<eCe
eer S. eJeerCe js[d[er
eer Yejle Deej. ieg[er
[e@. [er. Deevebo
eer et. esiejer js[d[er
eer er. eesheeOeee, #es$eere eyebOeke, (heosve meome)
Shri D.C.Pant
Dr.Anant Sharma
Shri Avinash Chopra
Shri Sunil Kumar Bassi
Dr. K.K.Aggarwal
Shri Kanishk Gupta
Dr. Anil Kothari
Dr. (Mrs) Bhajan Kaur
Shri Syed Raza Shah Madani
Shri Ashok Shah, Zonal Manager, (Ex-officioMember)
SOUTH CENTRAL ZONE

Shri V.Veerabhadra Raju
Shri V.V.Balakrishna Rao
Ms. Meera Nayak
Shri M.Ramgopal
Shri R.S.Nagabhushana
Shri A. Praveen Reddy
Shri Bharat R.Gudi
Dr. D.Ananda
Shri U.Gregory Reddy
Shri T.Chattopadhyaya, Zonal Manager, (Ex-Officio Member)
46
49th Annual Report

oef#eCe #es$e
SOUTHERN ZONE

eer Sme. heg<heeJevece
eer peer. Sme. eewOejer
[e@. Sme. heer. efve]peece cees. F&keyeeue
eerceleer ceerveg cesLeg
eer [er. Lebiejepe
eer JeIeeame ceecesve
eer Deeueeske kegceej meeyeg
eer peer. eYeekeje, #es$eere eyebOeke, (heosve meome)
heefMeceer #es$e
WESTERN ZONE
Shri S.Pushpavanam,
Shri G.S.Chowdhry
Dr. S. P. Nizam Md. Iqbal
Smt. Minu Mathew
Shri D.Thangaraj
Shri Varghese Mammen
Shri Alok Kumar Saboo
Shri G.Prabhakara, Zonal Manager, (Ex-Officio Member)

eer nsceble yeer. osmeeF&
eer vejefmebJee heer. keegveerce
eer meJexMe DeiejJeeue
eer OeerjsvYeeF& S. Jew<CeJe
eerceleer meefjlee Sme. Yeer
eer jcesMe jecejeJe Yeesieles
eer jcesMe peer. peece[e[s
ees. S. Sme. Kees
eer Sme. kes. keheener, #es$eere eyebOeke, (heosve meome)
47
Shri Hemant B. Desai

Shri Narcinva P. Quenim
Shri Survesh A. Agarwal
Shri Dhirendrabhai A. Vaishnav
Smt. Sarita S. Bhadri
Shri Ramesh Ramrao Bhogte
Shri Ramesh G. Jamdade
Prof. A.S.Khot
Shri S.K.Kapahi, Zonal Manager, (Ex-officio Member)

yeerceeOeejer heefj<eo kes Jele&ceeve meomeieCe
PRESENT MEMBERS OF THE POLICY HOLDERS COUNCIL
ceOe #es$e
CENTRAL ZONE
hetJeea #es$e
EASTERN ZONE
Yeesheeue ceb[ue
eer Sme. Sme. vee[keCeea Je. ceb. e.
eerceleer Dee&vee menee
eer cegjepe efmebn keerj
eer ceveespe efceee
[e@. Sme. peer. keguekeCeea
eer Deej. kes. pewve
BHOPAL DIVISION
Shri R.K.Jain
Deemevemeesue ceb[ue
eer yeer. kes. eeyeesleea Je. ceb. e.
[e@. Deej. Sve. kecee&ke&j
eer Sce. Sce. ollee
eer keeRkej heoceepeer
eerceleer hetefCe&cee meeOet
eer eoerhe keg. heeue
ASANSOL DIVISION
Shri B.K. Chakraborty SDM
Dr. R.N. Karmarkar
Shri M.M. Dutta
Shri Kinkar Padamaji
Smt. Purnima Sadhu
Shri Pradip Kr. Pal
iJeeefueej ceb[ue
eer Meece efmebn Je. ceb. e.
[e@ (eerceleer) Deuekee eejer
eer meboerhe DeeJeeue
eer pes. heer. Fvoewjeree
[e@. metneme [eW[s
eer yeer. [er. Jecee&
GWALIOR DIVISION
Shri Sham Singh SDM
Smt. (Dr.) Alka Chari
Shri Sandeep Agrawal
Shri J.P.Indoriya
Dr. Suhas Dhonde
Shri B.D.Verma
yesnjecehegj ceb[ue
eer yeer. meer. heveeF&ke Je. ceb. e.
eer jpeveer keeblee heveeF&ke
eer ieesyeeRoe eOeeve
eerceleer ieerleejeCeer mJewve
eer megOeebiemeg MesKej osJe
eer meblees<e keg. cenbleer
BERHAMPUR DIVISION
Shri B.C.Patnaik SDM
Shri Rajani Kanta Patnaik
Shri Gobinda Pradhan
Smt. Gitarani Swain
Shri Sudhangshu Sekhar Deo
Shri Santosh Kr.Mahanty
Fvoewj ceb[ue
eer heer. kes. ceesuejer Je. ceb. e.
eerceleer keuhevee ]peeskeejkej
eer efieefjMe kes. Meejoe
eer mebpee meesoeveer
eerceleer heoce kes. hneoeree
eer Oevejepe pejJeeue
INDORE DIVISION
Shri P.K.Molri SDM
Smt. Kalpana Zokarkar
Shri Girish K.Sharda
Shri Sanjay Sodani
Smt. Padam K. Phadiya
Shri Dhanraj Jarwal
Yeeieuehegj ceb[ue
eer yeer. eOeeve Je. ceb. e.
eerceleer Debpeg Yeejepe
eer Yeesueeheoe ieghlee
[e@ ceneosJe jyeeroeme
eer DeMeeske mejveeCeer
eer Depee kegceej
peyeuehegj ceb[ue
eer kegceej efvekesMe Je. ceb. e.
eerceleer ieerlee Mejo efleJeejer
eer efnceebMeg Kejs
[e@. jepesMe cenesyeeree
eer mebpee DeeJeeue
[e@. Sme. Sme. Fkeyeeue
JABALPUR DIVISION
Dr. S.S.Iqbal
yeeWieeF&iee@Je ceb[ue
eer Ss. mJejefieeejer Je.ceb.e.
eer njernj Mecee&
[e@. SHe. Denceo
eerceleer jsKee oeme
[e@ kes. Sue. oeme
eer nerlesMe leeuegkeoej
BONGAIGAON DIVISION
Shri. A. Swargiary SDM
Shri Harihar Sarma
Dr. F. Ahmed
Smt. Rekha Das
Dr. K.L.Das
Shri Hitesh Talukdar
jeehegj ceb[ue
eer Deej. heer. efmebn Je. ceb. e.
eer jepesMe DeeJeeue
eer Ss. kes. censMJejer
eer Sce. pes. jer]peJeer
eerceleer FmLej efiiee
eer pee@pe& merHesve
RAIPUR DIVISION
Shri R.P. Singh SDM
Shri Rajesh Agrawal
Shri A.K. Maheshwari
Shri M.J. Rizvi
Smt. Esther Tigga
Shri George Stephen
keke ceb[ue
eer Sme. ceesnbleer Je.ceb.e.
[e@ Deefpele kegceej cegKepeea
eer Debyeerkee emeeo cenbleer
eerceleer mejesefpeveer nsceyece
eer mebeece kesMejer veeeke
eer cebieue ejve ceepeer
CUTTACK DIVISION
melevee ceb[ue
eer kegjerue efJeveeso Je. ceb. e.
eer Deyeogue kejerce Keeve
eer mebpee efmebinee
eerceleer DeJeveerle mes"er
eer ueeuees ueeue meleveeceer
eer ceesleerueeue efmebn
SATNA DIVISION
Shri Kureel Vinod SDM
Shri Abdul Karim Khan
Shri Sanjay Singhai
Smt. Avneet Sethi
Shri Lallo Lal Satnami
Shri Motilal Singh
iegJeeneer ceb[ue
eer peer. Sme. JeeveJeej Je.ce.e.
eer ceeefCeke eboe
eer Sme. Sve. n]peejerkee
eer cees. leesmeerve
eerceleer Dees. efyeues leeefjeebie
eer cegefvece Mecee&
Men[esue ceb[ue
eer S. kes. "ekegj Je. ceb. e.
[e@. Sme. heer. efmebn
eer. Meece yeer. oeojeree
eerceleer Meeueerveer mejJeeieer
eer ceneJeerj emeeo ieesues
eer cees. meepeero Keeve heeMee
SHAHDOL DIVISION
Shri A.K.Thakur SDM
Dr. S.P.Singh
Shri Shyam B.Dadariya
Smt. Shalini Sarvagi
Shri Mahavir Pd. Gole
Shri Mohd. Sajid Khan Pasha
n]peejeryeeie ceb[ue
eer heer. meer. ieghlee Je. ceb. e.
eer yeer. Sve. Yeeeree
eer ceveer<e peemeJeeue
[e@. Sme. kes. efmevne
[e@. jsKee jeveer
eerceleer JeerCee mes"er
Shri S.S. Nadkarni SDM

Smt. Archana Sahay
Shri Muraj Singh Keer
Shri Manoj Mishra
Dr. S.G.Kulkarni
Shri Coomar Nikesh SDM

Smt. Geeta Sharad Tiwari
Shri Himanshu Khare
Dr. Rajesh Mahobia
Shri Sanjay Agrawal
BHAGALPUR DIVISION
Shri B.Pradhan SDM
Smt. Anju Bhardwaj
Shri Bholapada Gupta
Dr.Mahadeo Rabidas
Shri Ashok Sarnani
Shri Ajay Kumar
Shri S. Mohanty SDM

Dr. Ajit Kumar Mukherjee
Shri Ambika Prasad Mahanty
Smt. Sarojini Hembrum
Shri Sangram Keasri Nayak
Shri Mangal Charan Maji
GUWAHATI DIVISION
Shri G.S.Wanwar DM
Shri Manik Chanda
Shri S.N.Hazarika
Shri Md.Toshin
Smt. O.Bilet Tariang
Shri Munim Sarma
HAZARIBAGH DIVISION
Shri P.C.Gupta SDM
Shri B.N.Bhatia
Shri Manish Jaiswal
Dr.S.K.Sinha
Dr.Rekha Rani
Smt. Veena Sethi
48
49th Annual Report

neJe[e ceb[ue
eer yeer. Sme. efceee Je.ceb.e.
eer megoevemeg MesKej ceenlee
eer megveerue kegceej oeme
eerceleer jespe Deefvecee eshevees
eer mete& Mebkej efyemJeeme
eer Meeceue kegb[t
HOWRAH DIVISION
peueheeF&iegjer ceb[ue
eer yeer. kes. ef$ehee"er Je.ceb.e.
megeer keveerkee ceeojer
eer megoerhe osye
eer leheve kegceej oeme
[e@.yeer. meer. efmeue
eer Heerue ceesnve meesjsve
JALPAIGURI DIVISION
peceMesohegj ceb[ue
eer. [er. heer. ceesnbleer Je.ceb.e.
[e@. veeiesv kegceej oeme
eer censv kegceej pewve
eerceleer yebovee oeosue
[e@. Deveghece je@e
eer yeer. ceerveer
JAMSHEDPUR DIVISION
peesjn ceb[ue
eer Meece megboj Je.ceb.e.
eer meefcejve yeesjoesueesF&
eer efpelesve meesveesJeeue
[e@. (eerceleer) pegueereevee Mecee&
[e@. Deyeeveer e. ieesmJeeceer
eer efvece&uee e. ieesieese
JORHAT DIVISION
keesuekeelee cesês ceb[ue I

eer Sme. meer. efmebie Je.ceb.e.
eer efeleerme efyemJeeme
eer DeeMeglees<e DeeJeeue
eerceleer mebieerlee Iees<e
eer mebpeese ieesebkee
eer ueueerle Heveer
KOLKATA DIVISION I
keesuekeelee cesês ceb[ue II

eer [er. meesce Je.ceb.e.
[e@. (eerceleer) efce$eeer oemeieghlee
eer. efmemeerj eeyeesleea
eer. eyeerj keg. yeeie
eer. Yeemkej js
eer. Glheue mejkeej
KOLKATA METRO DIVISION II
keesuekeelee (meyeye&ve) ceb[ue

eer heer. Deej. efceee Je.ceb.e.
eerceleer Dee&vee mejkeej
eer efnceebMeg Sme. ceb[ue
eer peeoJe e. ceeweleer
eer ke=<Ce kegceej ef$eJesoer
[e@. efoueerhe hegjkeeele
KOLKATA SUBURBAN
DIVISION
Shri P.R.Mishra SDM
Smt.Archana Sarkar
Shri Himanshu Sekhar Mondal
Shri Jadav Ch. Maity
Shri Krishna Kumar Trivedi
Dr. Dilip Purkayat
49
Shri B.S.Mishra SDM

Shri Sudhansu Sekhar Mahata
Shri Sunil Kr. Das
Mrs. Rose Anima Topno
Shri Surya Shanker Biswas
Shri Shyamal Kundu
Shri B.K.Tripathy SDM

Ms. Kanika Madri
Shri Sudip Deb
Shri Tapan Kumar Das
Dr. B.C.Sil
Shri Phil Mohan Soren
Shri D.P.Mohanty SDM

Dr. Nagendra Kr. Das
Shri Mahendra Kr. Jain
Smt. Bandana Dadel
Dr. Anupam Roy
Shri B.Mini
Shri Sham Sunder SDM

Shri Samiran Bordoloi
Shri Jiten Sonowal
Dr. (Smt.) Juliana Sarma
Dr. Abani Ch. Goswami
Shri Nirmal Ch. Gogoi
Shri S.C. Singh SDM

Shri Pritish Biswas
Shri Ashutosh Agarwal
Smt. Sangeeta Ghosh
Shri Sanjoy Goenka
Shri Lalit Fani
Shri D.Som SDM

Dr. (Smt) Mitrasree Dasgupta
Shri Sisir Chakraborty
Shri Prabir Kr. Bag
Shri Bhaskar Ray
Shri Utpal Sarkar
cegpeHeHejhegj ceb[ue
eer Sce. heer. efmebn Je.ceb.e.
ees. DeCe keg. efmebn
[e@. Deefveue keg. veevee
eer. pes. veeLe efmebn
eerceleer vegleve je@e
[e@. efJevee keg. DeePeeo
MUZAFFARPUR DIVISION
hevee ceb[ue
eer meefev Mecee& Je.ceb.e.
[e@. eceeso keg. DeeJeeue
[e@. (eerceleer) ceerje ce=ogYeeef<eCeer
[e@. meeo jepee ngmewve
eer efJepee kegceej
[e@. vesee]pe DeMejHe efmeerkeer
PATNA DIVISION
mebyeuehegj ceb[ue
eer keceue kegceej Je.ceb.e.
[e@. emevvee kegceej ef$ehee"er
[e@. (eerceleer) meyeerlee ef$ehee"er
eer meerjerue kegueg
megeer Fbog DeeJeeue
eer meblees<e keg. oeMe
SAMBALPUR DIVISION
efmeueej ceb[ue
eer jleerkeeblee efmebn Je.ceb.e.
eer meebleveg Iees<e
eer. efoueerhe kegceej veeLe
eerceleer yebovee Leewmesve
eer. DeMeerMe Yedeeepeea
eer yeemetosJe eewOejer
SILCHAR DIVISION
Gej ceOe #es$e
NORTH CENTRAL ZONE
Deeieje ceb[ue
eer heer. yeer. je@e Je.ceb.e.
eer Sse. yeer. efvecesMe
meg. eer. ceeueJeerkee oee
eer Sve. Deej. efmceLe
eer ceesleer jece
eer kes. Sme. hejceej
AGRA DIVISION
Deueerie{ ceb[ue
eer Deej. kes. pewve Je.ceb.e.
eerceleer jef]peee meueerce
[e@. megjsMe ebe
eer jepekegceej Jee<Cexe
[e@. Deej. Sme. Mecee&
eer DejefJebo keg. DeeJeeue
ALIGARH DIVISION
Fueeneyeeo ceb[ue
eer Sme. kes. "ekegj Je.ceb.e.
eer Devpevese Megkeuee
eerceleer veerMeer ieghlee
eer cesefoveer Yet<eCe
eer mebpee ieghlee
eer censMe meer. elegJexoer
ALLAHABAD DIVISION
Shri M.P. Singh SDM

Prof. Arun Kr.Singh
Dr.Anil Kr.Naina
Shri J.Nath Singh
Smt. Nutan Roy
Dr.Vinay Kr.Azad
Shri Sachindra Sharma SDM

Dr. Pramod Kr. Agarwal
Dr. (Smt.) Mira Mridhubhasini
Dr. Syad Raja Hussain
Shri Vijay Kumar
Dr. Neyaz Ashraf Siddiqui
Shri Kamal Kumar SDM

Dr. Prasanna Kumar Tripathy
Dr. (Smt.) Sabita Tripathy
Shri Ciril Kullu
Ms. Indu Agrawal
Shri Santosh Kr. Dash
Shri Ratikanta Singh SDM

Shri Shantanu Ghosh
Shri Dilip Kumar Nath
Smt. Bandana Thousen
Shri Asish Bhattacharjee
Shri Basudev Choudhury
Shri P.B. Roy SDM

Shri H.B. Nimesh
Ms. Malvika Dutta
Shri N.R. Smith
Shri Moti Ram
Shri K.S. Parmar
Shri R.K.Jain SDM

Smt. Razia Salim
Dr. Suresh Chandra
Shri Raj Kumar Varshney
Dr. R.S.Sharma
Shri Arvind Kr. Agarwal
Shri S.K.Thakur SDM

Shri Anjneya Shukla
Smt. Nishi Gupta
Shri Medini Bhusan
Shri Sanjay Gupta
Shri Mahesh C. Chaturvedi

yejsueer ceb[ue
eer Sme. meer. efpeboue Je.ceb.e.
eerceleer kegcego Keb[sueJeeue
eer mebpee DeiejJeeue
[e@. megveerlee eb
[e@. Deej. [er. ieewlece
eer jepeerJe ieghlee
BAREILLY DIVISION
osnjeotve ceb[ue
eer kes. kes. Pee Je.ceb.e.
eer eeoe jepe ieghlee
[e@ (megeer) JemegOee
eer jepeerJe Mecee&
eer efJejsv efmebn kegbJej
eer ceefnheeue efmebn
ieesjKehegj ceb[ue
eer heer. Sue. efJeOeeLeea Je.ceb.e.
[e@. DejefJebo kegceej
[e@. S. Yeiele
[e@. er. heer. Meener
megeer. mebieerlee ekeeMe
eer Sme. yeer. Jecee&
nuoJeeveer ceb[ue
eer kes. Sme. veeieveeue, Je.ceb.e.
[e@. Sve. Sme. heebieleer
eer hejJesMe cesnje
eer yeer. kes. ieghlee
eer Mejo ieghlee
eerceleer mejerlee DeeJeeue
VARANASI DIVISION
Shri Rajeev Gupta
JeejeCemeer ceb[ue
eer heer. efJesoer Je.ceb.e.
eer Devegjeie efmebn
eerceleer kesJeuee osJeer emeeo
eer jekesMe ceesoveJeeue
eerceleer jerlee hee"ke
eer pes. meer. eerJeemleJe
DEHRADUN DIVISION
Gejer #es$e
NORTHERN ZONE
Depecesj ceb[ue
eer. S. kes. Deevebo Je.ceb.e.
eer Sce. kes. DeeJeeue
eer ceesnve ueeue
[e@. Gcee peesMeer
eer. kes. keboese
eer. kes. Sme. cesnj
AJMER DIVISION
Dece=lemej ceb[ue
eer. Sme. heer. efmebn Je.ceb.e.
eer DeefJeveeMe censvg
megeer. nefjboj jwej
eer jceve kegceej yekeMeer
eer DeeWkeej veeLe
eer. lesefpeboj efmebn Dejesje
AMRITSAR DIVISION
Shri S.P. Singh SDM
Shri Avinash Mahendru
Ms.Harinder Riar
Shri Raman Kumar Bakshi
Shri Onkar Nath
Shri Tejinder Singh Arora
yeerkeevesj ceb[ue
eer er. yeer. kee@ue Je.ceb.e.
eer ceieve efyeMee
[e@. ogiee& ienueesle
eer Oevvee jece
eerceleer MeMeer meent
[e@. er. Sue. Dejesje
BIKANER DIVISION
eb[erie{ ceb[ue
eer censv kegceej Je.ceb.e.
[e@. eceo. kes. kebJej
eerceleer oMe&ve levespee
eer jepesMe ieghlee
eer DeMeeske DeiiejJeeue
eer efvece&ue kegceej efceeue
CHANDIGARH DIVISION
Shri Mahendra Kumar SDM
Dr.Pramad K. Kanwar
Smt. Darshan Taneja
Shri Rajesh Gupta
Shri Ashok Aggarwal
Shri Nirmal Kumar Mittal
peehegj ceb[ue
eer mebpeerJe kegceej Je.ceb.e.
eer DeeMeerMe efceeue
eer meleerMe kede
eer heer. Sve. Yeeie&Je
eer ieCesMe ceervee
megeer megefvelee pewve
JAIPUR DIVISION
Shri Sanjeev Kumar SDM
Shri Ashish Mittal
Shri Satish Katta
Shri P.N.Bhargava
Shri Ganesh Meena
Ms Sunita Jain
peuebOej ceb[ue
eer er. Deej. cesvoerjee Je.ceb.e.
eer jepeervoj kegceej
eer efoueyej jee heeue
[e@. Sme. kes. megkeer
[e@. mejerlee Jecee&
eer. Sme. Sme. DeiiejJeeue
JALANDHAR DIVISION
Shri S.C. Jindal SDM

Smt. Kumud Khandelwal
Shri Sanjay Agarwal
Dr. Sunita Chandra
Dr. R.D.Gautam
Shri K.K.Jha SDM

Shri Yaday Raj Gupta
Dr. (Ms.) Vasudha
Shri Rajeev Sharma
Shri Virendra Singh Kunwar
Shri Mahipal Singh
GORAKHPUR DIVISION
Shri P.L.Vidyarthi SDM
Dr. Arvind Kumar
Dr. A. Bhagat
Dr. T.P.Shahi
Ms. Sangeeta Prakash
Shri S.B.Verma
HALDWANI DIVISION
Shri K.S.Nagnyal SDM
Dr. N.S.Pangti
Shri Parvesh Mehra
Shri B.K.Gupta
Shri Sharad Gupta
Smt. Sarita Agarwal
keevehegj ceb[ue
eer meer. heer. Mecee& Je.ceb.e.
eer Sve. kes. DeeJeeue
eer efovesMe kegceej
Jeer. keeb. eJeCe iegjeCeer
eer oerheke kehetj
eerceleer keuhevee Pee
KANPUR DIVISION
ueKeveT ceb[ue
eer Deveghe kegceej Je.ceb.e.
eer vesce efmen
eerceleer veerje Deeeeee&
eerceleer yesyeer jeveer eerJeemleJe
eer efiejervveeLe heeC[s
eer Meececeveesnj oer#eerle
LUCKNOW DIVISION
cesj" ceb[ue
eer pes. Sce. Mecee& Je.ceb.e.
ke. yeer. Deej. jeceheeue
[e@. meesceJeerj efmebn
[e@ (eerceleer) ceOeg efceeue
eer cenejece efmebn
eerceleer DeeMee Deieefvenes$eer
MEERUT DIVISION
Shri C.P.Sharma SDM

Shri N.K.Agarwal
Shri Dinesh Kumar
Wg. Com. Sravan Gurani
Shri Deepak Kapoor
Smt. Kalpana Jha
Shri Anoop Kumar SDM

Shri Nem Singh
Ms. Neera Acharya
Dr. Baby Rani Srivastva
Shri Gireendra Nath Pandey
Shri Shyam Manhor Dixit
Shri J.M.Sharma SDM

Col. B.R.Rampal
Dr. Somvir Singh
Dr. (Smt.) Madhu Mittal
Shri Maharam Singh
Smt. Asha Agnihotri
Shri P.Dwivedi SDM

Shri Anurag Singh
Smt. Kewala Devi Prasad
Shri Rakesh Modanwal
Smt. Reeta Pathak
Shri J.C.Srivastva
Shri A.K.Anand SDM

Shri M.K.Agarwal
Shri Mohan Lal
Dr. Uma Joshi
Shri K.Kandoi
Shri K.S.Mehar
Shri T.B.Koul SDM

Shri Magan Bissa
Dr. Durga Gehlot
Shri Dhanna Ram
Smt. Shashi Sahu
Dr. T.L.Arora
Shri T.R.Mendiratta SDM

Shri Rajinder Kumar
Shri Dilber Rai Pal
Dr. S.K.Sukki
Dr.Sarita Verma
Shri S.S.Aggarwal
50
49th Annual Report

eerveiej ceb[ue
eer mebpee Jecee& Je.ceb.e.
[e@. jHeer Denceo
eer lespee efmebn
eer Deyogue ceepeero ceeg
eerceleer efvece&ue heeOee
eer jepe kegceej keuemeesleje
SRINAGAR DIVISION
Goehegj ceb[ue
eer. S. kes. Mecee& Je.ceb.e.
eer ceveesnj efJesoer
[e@. (eerceleer) Debpeg keesnueer
eer Depeerpe Keeve he"eve
eer Deej. Sue. ieejefmeee
eer efvece&ue kegceeJele
UDAIPUR DIVISION
oef#eCe ceOe #es$e
SOUTH CENTRAL ZONE
yeQieueesj ceb[ue I
eer eceeso kegceej ieghlee - Je.ceb.e.
eerceleer G<ee Deej. jeJe
[e@. Sce. Sme. Oevebpee
eer Se. Deej. kemlegjerjbieve
eer efnefjmeeJes jeceke=<Ce
eer Sce. Sme. Ye
BANGALORE DIVISION-I
NEW DELHI DIVISION I

Shri Prakash Chand SDM
Smt. R. Bhattacharya
Dr. J. K. Sharma
Shri Yojesh Sarangal
Shri Venkatesh Nayak
Shri Anil Anand
yeQieueesj ceb[ue II
eer kes. Sce. jepesieew[e - Je.ceb.e.
[e@. efmeodoefuebieee
[e@. (eerceleer) Deej. hetefCe&cee
[e@. yeer.Deej. eerefveJeeme
ees. er. et. ceveg
eer Se. yeer. Sce. cegiesMe
BANGALORE DIVISION-II
NEW DELHI DIVISION II
yesueieeBJe ceb[ue
eer Sme. Deej. nbefeveeceeveer - Je.ceb.e.
[e@. jepeer lespemJeer
[e@. meer.Deej.heJeej
eer pes. Sme. ceceoehegj
eer Sme. peer. nsie[s
eer yeer. S. hegpeej
BELGAUM DIVISION
NEW DELHI DIVISION III

Shri D.K.Bhagat SDM
Shri Nirmal Kumar Jain
Shri Harbhajan Singh
Shri Ajay Kumar
Dr. Sarita Pathak
Smt. Rubina Khattar
ke[hhee ceb[ue
eer efJepeekegceej kees[eleer- Je.ceb.e.
[e@. Sce. Jejue#ceer osJeer
eer. Sce. JeWke jecevehhee
eer kes. meleveejeeCe js[d[er
eer Ghhet eerOej Deef[iee
[e@. peer. ceeuekees[wee
CUDDAPAH DIVISION
SHIMLA DIVISION
OeejJee[ ceb[ue
eer meer. vejmeJebOeeveer - Je.ceb.eb
[e@. mebOee Sme. keguekeCeea
[e@. Sce. er. keebyeues
efe. yeeUsnuueerce"
eer ieCesMe peer. nsie[s
[e@. DeMeeske Jner. keuceoeveer
DHARWAD DIVISION
peesOehegj ceb[ue
eer. Ss. eesJej Je.ceb.e.
eer yepesv efmebn
eerceleer jecesMJejer hegjesefnle
eer censv efheder
eer megYee<e meesveer
eer ieesheeue ebo ieebOeer
JODHPUR DIVISION
kejCeeue ceb[ue
eer [er. Sve. peesMeer Je.ceb.e.
eer DeJeveerMe Mecee&
[e@. jsKee efmebieuee
[e@. yeueyeerj efmebn
eer jekesMe keg. DeiiejJeeue
eer jepesMe kegceej
KARNAL DIVISION
uegefOeeevee ceb[ue
eer Sme. meer. efOebieje Je.ceb.e.
eer pemeyeerj efmebn pemmeue
eerceleer yejefpeboj keewj
eer jeefpeboj ceesiee
eer ceveespe Keguuej
ees. efJepee DemOeerj
veF& efouueer ceb[ue -I
eer ekeeMe eebo Je.ceb.e.
eerceleer Deej. Yeeeee&
[e@. pes. kes. Mecee&
eer eesiesMe meejbieue
eer JeWkesMe veeeke
eer Deefveue Deevebo
veF& efouueer ceb[ue -II
eer jekesMe kegceej Je.ceb.e.
[e@. njernjve
eer meleerMe kegceej
eer Jeer. kes. ieewj
megeer Deefvelee Yeejleer
eer Deefveue kegceej pewve
veF& efouueer ceb[ue -III
eer [er.kes. Yeiele, Je.ceb.e.
eer efvece&ue kegceej pewve
eer njYepeve efmebn
eer Depee kegceej
[e@ meefjlee hee"ke
eerceleer yeervee Kej
efMeceuee ceb[ue
eer Sce. kes. kesceg Je.ceb.e.
eer vejerv "ekegj
eer jefJev efmebn efceveneme
eer efJeveeso cenepeve
[e@. peeflev keg. eesheje
eerceleer MegYe cenepeve
51
Shri A.Grover SDM

Shri Brajendra Singh
Smt. Rameshwari Purohit
Shri Mahendra Pitti
Shri Subhash Soni
Shri Gopal Chand Gandhi
Shri D.N.Joshi SDM

Shri Avanish Sharma
Dr. Rekha Singla
Dr. Balbir Singh
Shri Rakesh Kr. Aggarwal
Shri Rajesh Kumar
LUDHIANA DIVISION
Shri S.C.Dhingra SDM
Shri Jasbir Singh Jassal
Smt. Barjinder Kaur
Shri Rajinder Moga
Shri Manoj Khullar
Prof. Vijay Asdhir
Shri Rakesh Kumar SDM

Dr. Hariharan
Shri Satish Kumar
Shri V.K.Gaur
Ms. Anita Bharti
Shri Anil Kumar Jain
Shri M.K.Kemmu SDM

Shri Narinder Thakur
Shri Ravinder Singh Minhas
Shri Vinod Mahajan
Dr.Jatinder Kr.Chopra
Smt. Shubh Mahajan
Shri Sanjay Verma SDM

Dr. Rafi Ahmad
Shri Teja Singh
Shri Abdul Majid Mattu
Smt. Nirmal Padha
Shri Raj Kumar Kalsotra
Shri A.K.Sharma SDM

Shri Manohar Dwivedi
Dr. (Smt.) Anju Kohli
Shri Ajaz Khan Pathan
Shri R.L.Garasiya
Shri Nirmal Kumawat
Shri Pramod Kumar Gupta SDM

Smt. Usha R. Rao
Dr. M.S.Dhananjaya
Shri H.R.Kasturi Rangan
Shri Hirisave Ramakrishna
Shri M.S.Bhat
Shri K.M.Raje Gowda SDM

Dr. Siddalingaiah
Dr. (Smt) R. Poornima
Dr. B.R.Srinivasa
Prof. T.U.Manu
Shri H.B.M. Murugesh
Shri S.R.Hanchinamani SDM

Dr. Raji Tejashwi
Dr. C.R.Pawar
Shri J.S.Mamadapur
Shri S.G.Hegde
Shri B.A.Pujar
Shri Vijay Kumar Kodati SDM

Dr. M. Varalakshmi Devi
Shri M.Venkata Ramanappa
Shri K.Satyanarayana Reddy
Shri Uppooru Sreedhar Adiga
Dr. G. Malakondaiah
Shri C.Narasavadhani SDM

Dr. Sandhya S.Kulkarni
Dr. M.T.Kamble
Chi.Balehallimath
Shri Ganesh G. Hegde
Dr.Ashok V. Kalmdani

nwojeyeeo ceb[ue
eer Sve. heer. efmevne- Je.ceb.e.
megeer Jner. veerjpee
eer kes. jece veejeeCe
eer Sme. JeWkeeer
[e@. kes. efuebieee
[e@. censMe kegceej kesef[ee
HYDERABAD DIVISION
Dr.Mahesh Kumar Kedia
efmekebojeyeeo ceb[ue
eer Jner peeble kegceej - Je.ceb.e.
eerceleer heer. Peebmeer jeveer
eer Sce. emeeo jeJe
[e@. heer. veefueveerkeeble
eer meer. Debpeer js[d[er
[e@. Sme. yegwee
SECUNDERABAD DIVISION
Shri. V.Jayanth Kumar SDM
Smt.P.Jhansi Rani
Shri M.Prasad Rao
Dr. P.Nalinikant
Shri C.Anji Reddy
Dr.S.Butchaiah
kejerceveiej ceb[ue
eer Sce. ieesJeOe&ve jeJe- Je.ceb.e.
megeer peer. megveboe
[e@. yeveesLe he Mebkej
efe. efveueercee
eer DeeF&. jepee yeeyet
eer heer. iebieeOej jeJe
KARIMNAGAR DIVISION
Shri M.Govardhana Rao SDM
Ms.G.Sunanda
Dr.Banoth Roop Shankar
Chi.Neelima
Shri I.Raja Babu
Shri P.Gangadhara Rao
G[gheer ceb[ue
eer Sme. yesnsje - Je.ceb.e.
megeer megMeeruee Deej. jee
ees. S. Deej. uebyeesoj
eer Sce. peer. jeceeb cetleea
[e@. peer. esceoeme
eer heer. peer. veeeke
UDUPI DIVISION
Shri. S.Behera SDM
Ms.Susheela R. Rai
Prof.A.R.Lambodhara
Shri M.G.Ramachandra Murthy
Dr. G.Premdas
Shri P.G.Nayak
ceueerhevece ceb[ue
eer Sce. JeerjYe jeJe- Je.ceb.e.
[e@. Sce. eerefJeee
eer peer. Meebleekegceej
eer kes. jcesMe
eer oemejer eeue&med
eer yeerveejeeCe
MACHILIPATNAM DIVISION
Shri M.Veerabhadra Rao SDM
Dr. M. Srividya
Shri G. Shanta Kumar
Shri K. Ramesh
Shri Dasari Charles
Shri Badari Narayana
efJeMeeKeehedvece ceb[ue
eer eYeekej jeJe, Je.ceb.e.
efe. ceneue#ceer
eer peer. megOeekej
eer Sme. eerefveJeeme Yeejepe
eer pes. e. veejeeCe cetleea
eer peer. kegcebLee jeJe
VISAKHAPATNAM DIVISION
MYSORE DIVISION
Jeejbieue ceb[ue
eer megyyeejeceer js[d[er, heer. Je.ceb.e.
eer Sve. emeeo
eer [er. Meecee jeJe
eerceleer ([e@.) kebeeuee& Fbefoje
eer Fhhekeeuee jcesMe yeeyet
eer kes. megjsv jeJe
WARANGAL DIVISION
Shri Subbarami Reddy P. SDM
Shri N. Prasad
Shri D. Shyama Rao
Smt. (Dr.) Kancharla Indira
Shri Ippakayala Ramesh Babu
Shri K. Surender Rao
oef#eCeer #es$e
SOUTHERN ZONE
esvveF& ceb[ue - I
eer kes. kes. efmebIeue - Je.ceb.e.
[e@. er. jcesMe
eer kes. kegceej
eerceleer Sce. nsceuelee
[e@. jbieemeeceer
eerceleer MeesYee Dewej
CHENNAI DIVISION I
Shri K.K.Singhal SDM
Dr. T.Ramesh
Shri K.Kumar
Smt. M.Hemalatha
Dr. Rangasamy
Smt. Shoba Iyer
esvveF& ceb[ue - II
eer DeCCeeogjeF& heer. - Je.ceb.e.
megeer Deefvelee [sJner[
eer Jner. mesuJnkegceej
[e@. Sme. jecemeeceer
eer peehee@ue mesefvLeuekegceej
eer heueceueeF&
CHENNAI DIVISION II
cewmetj ceb[ue
eer peesleerkegceej mesve - Je.ceb.e.
[e@. efMeJeyemeJewee
eerceleer Sce. Sme. meeefJe$eer
[e@. S. Deej. efmeleejece
eer yeer. eesiesMe
[e@. Mebkej meesceeepeer meer.
Shri N.P.Sinha SDM

Ms.V.Neeraja
Shri K.Ram Narayan
Shri S.Venkatadri
Dr.K.Lingaiah
Shri Jyotikumar Sen SDM

Dr. Shivabasavaiah
Smt. M.S.Savithri
Dr. A.R.Seetha Ram
Shri B. Yogesh
Dr. Shankar Somayaji C.
vesuueesj ceb[ue
eer kes. Sme. megbojepeve - Je.ceb.e.
eer yesuuece keeswee
eer S. eerefveJeemegueg
[e@. (eerceleer) lesjs DeCee kegceej
eer kekegceeveer eer jece cegleea
ees. peer. ebMesKej jeJe
NELLORE DIVISION
Shri K.S. Sundarajan SDM
jeeegj ceb[ue
eer heer. Sme. Deej. keessMJej jeJe - Je.ceb.e.
eer eg. jeceeb eYeg
eer kemeveg Sue. veeF&ke
eerceleer Debpeueer Sme. Fveeceoej
eer jHeerke
[e@. yeer. meeshheerceLe
RAICHUR DIVISION
jepecegb[jer ceb[ue
eer Deej. jeceke=<Ceve - Je.ceb.e.
megeer peer. Gcee
megeer Sce. F&. jeveer
[e@. peer. jecevewee
eer Sce. ceesnve
[e@. Jesuegjer jeceeb
RAJAHMUNDRY DIVISION
Shri Bellam Kotaiah

Shri A. Srinivasulu
Dr.(Smt.) Tere Aruna Kumar
Shri Kakumani Sri Rama Murthy
Prof. G. Chandrasekhara Rao
Shri P.S.R.Koteswara Rao SDM

Shri U. Ramachandra Prabhu
Shri Kasanu L. Naik
Smt. Anjali S. Inamdar
Shri Rafiq
Dr. B. Soppimath
Shri R.Ramakrishnan SDM

Ms.G.Uma
Ms.M.E.Rani
Dr.G.Ramanaiah
Shri M.Mohan
Dr.Veluri Rama Chandra
keesebyegj ceb[ue
eer Deej. heueeveermJeeceer - Je.ceb.e.
eer meer. kes. vejepe
eerceleer eefleYee efoveoeeU
eer heer. Sme. megboj
eerceleer S. jepesMJejer
eer kes. Sve. heesVegmeeceer
Shri N.Prabhakara Rao SDM

Ch. Mahalakshmi
Shri G.Sudhakar
Shri S.Srinivas Bharadwaj
Shri J.Ch.Narayana Murthy
Shri G.Kurumantha Rao
Shri . Annadurai.P. SDM

Ms. Anitha David
Shri V. Selvakumar
Dr. S. Ramasamy
Shri Jayapaul Senthilkumar
Shri R. Palamalai
COIMBATORE DIVISION
Shri R.Palaniswamy SDM
Shri C.K.Nataraj
Smt. Prathiba Deendayal
Shri P.S.Sunder
Smt. A.Rajeswari
Shri K.N.Ponnusamy
52
49th Annual Report

Svee&keguece ceb[ue
eer Deefveuekegceej pes. - Je.ceb.e.
eer Sme. Deej. veeej
eer kes. veboveve
megeer heer. kes. mebleccee
[e@. jepeieesheeueve veeej
eer heer. yeer. meneveceve
ERNAKULAM DIVISION
keesdeece ceb[ue
eer eerOejve - Je.ceb.e.
ees. DeeePe@ke heer. Deyeence
megeer kes. jeefOekee
eer [er. Deefveuekegceej
eer kegefjeve esefjeve
eer je@e Lee@ceme
keesefpekees[ ceb[ue
eer cegjueerOejve heer. - Je.ceb.e.
megeer heg<heekegceejer
ees. ([e@.) heer. kes. MesKejve
eer Jner. nefjnjve
eer heer. er. uegkeesme
efevme Lekekeve
ceogjF& ceb[ue
eer Deej. pes. jepeejceve- Je.ceb.e.
[e@. meer. megbojer
[e@. heer. Sme. ebve eYeg
eer Sme. peejeceve
eer Sve. efhejJeer hesceue
eer kes. ceefveJevveve
TIRUNELVELI DIVISION
Shri. P.B. Sahasranaman
efleveueJesuueer ceb[ue
eer kes. mJeeceerveeLeve - Je.ceb.e.
eer Sce. peeekeeMe veejeeCeve
eer peer. MebkejveejeeCeve
eer S. esuueeogjeF&
ees. ([e@.) cemeea nsvjer
eer heer. efeobyejce
KOTTAYAM DIVISION
Shri Sridharan SDM
Prof. Issac P. Abraham
Ms. K. Radhika
Shri D. Anilkumar
Shri Kurian Cherian
Shri Roy Thomas
Jesuueesj ceb[ue
eer Sce. kes. yeeueke=<Ceve- Je.ceb.e.
eer Jner. ke=<Cecetleea
[e@. ieerlee ceLeeF&
eer kes. Sce. eerjeceguet
ees. [er. Sce. Deyogue Kee[s
eerceleer ceuueerkee ebve
VELLORE DIVISION
heefMece #es$e
WESTERN ZONE
Denceoeyeeo ceb[ue
eer Sme. Sce. pewve Je.ceb.e.
eer jepesv veeiej
[e@. efnvee mekemesvee
eer Sme. [er. vee[kej
eer Jeer. Sce. DeesPee
eer Deej. [er. hejceej
AHMEDABAD DIVISION
DecejeJeleer ceb[ue
eer Deej. meer. Yed Je.ceb.e.
eer Deej. Sve. Mecee&
eer Jeer.yeer. ieojs
eerceleer Sce.Deej.osMecegKe
eer Sve. Sve. Yeiele
[e@. S. Ssme. ieeos
AMRAVATI DIVISION
Deewjbieeyeeo ceb[ue
eer Deej. heer. ieghlee Je.ceb.e.
eer heer. Se. ceesjs
[e@. (eerceleer) e%ee hee"ke
eer heer. er. vevkej
eer Sve. kes. YeevegMeeueer
eer Sme. Sme. jsoemeeveer
AURANGABAD DIVISION
YeeJeveiej ceb[ue
eer kes. Sve. cesnlee, Je.ceb.e.
eerceleer Gceeaueeyesve heer. meesuebkeer
eer oerheke DeCeYeeF& oesMeer
eerceleer vesnue ef$eJesoer
eer. yeer. kes. meesheejeree
eer efkejer egveerueeue Meen
BHAVNAGAR DIVISION
ieebOeerveiej ceb[ue
eer kes. Deej. ceervee Je.ceb.e.
eer [er. S. TkeeJeeuee
eer [er. Se. eewneCe
[e@. Jeee. er. hesue
eerceleer Sce. Sce. osmeeF&
eerceleer heer. Sce. cesnlee
GANDHINAGAR DIVISION
Shri Anil Kumar J. SDM

Shri S.R. Nair
Shri K. Nandanan
Ms. P.K. Santhamma
Dr. Rajagopalan Nair
KOZHIKODE DIVISION
Shri Muraleedharan P. SDM
Ms. P.Pushpakumari
Prof. (Dr.) P.K. Sekharan
Shri V. Hariharan
Shri P.T. Lukose
Prince Thekkan
MADURAI DIVISION
Shri R.J. Rajaraman SDM
Dr. C. Sundari
Dr. P.S. Chandra Prabhu
Shri S. Jeyaraman
Shri N. Piravi Perumal
Shri K. Manivannan
mesuece ceb[ue
eer S.peer. Jesvegieesheeue - Je.ceb.e.
eer <eCcegiemebgojce
[e@ kemlegjer
eer Sme. peieosmeve
eer heer. Jevekekece jepesvve
[e@. Sme. ue#ceer
SALEM DIVISION
lebpeeJegj ceb[ue
eer kes. jepeerJeve veeej - Je.ceb.e.
eer S. Deueiehheve
eer kes. Sce. ceesncceo Fkeyeeueoerve
eerceleer kes. ceervee
eer er. veoweePeieve
eer Sue. Yeemkejve
THANJAVUR DIVISION
efleJeveblehegjce ceb[ue
eer Sue. Depeerle kegceej - Je.ceb.e.
eer megveerue ieghlee
eer Jner memeer
eer kes. peesleerkegceej
eer Deej. jefJekegceej
eerceleer Sme. uewuee
THIRUVANANTHAPURAM D.O
53
Shri A.G. Venugopal SDM

Shri Shanmugsundaram
Dr. Kasthuri
Shri S. Jagadesan
Shri P. Vanakkam Rajendran
Dr. S. Lakshmi
Shri K.Rajivan Nair SDM

Shri A. Alagappan
Shri K.M. Mohamed Iqbaldeen
Smt. K. Meena
Shri T. Nadaiyazhagan
Shri L. Baskaran
Shri L. Ajith Kumar SDM

Shri Sunil Gupta
Shri V. Sasi
Shri K. Jyothikumar
Shri R. Ravikumar
Smt. S. Laila
Shri K. Swaminathan SDM

Shri M. Jayaprakash Narayanan
Shri G. Sankaranarayanan
Shri A. Chelladurai
Prof. (Dr.) Mercy Henry
Shri P. Chidambaram
Shri M.K. Balakrishnan SDM
Shri V. Krishnamoorthy
Dr. Gita Mathai
Shri K.M. Sriramulu
Prof. D.M. Abdul Khadhe
Smt. Mallika Chandran
Shri S.M. Jain SDM

Shri Rajendra Nagar
Dr. Hina Saxena
Shri S.D. Nadkar
Shri V.M. Oza
Shri R.D. Parmar
Shri R.C. Bhatt SDM

Shri R.N. Sharma
Shri V.B. Gadre
Smt. M.R. Deshmukh
Shri N.N. Bhagat
Dr. A.S. Gade
Shri R.P. Gupta SDM

Shri P.H. More
Dr.(Mrs) Pradnya Pathak
Shri P.T. Nankar
Shri N.K. Bhanushali
Shri S.S. Redasani
Shri K.N. Metha SDM

Smt. Urmilaben P. Solanki
Shri Dipak Arunbhai Doshi
Smt. Nehal Trivedi
Shri B. K. Sopariya
Shri Kirit Chunilal Shah
Shri K.R. Meena SDM

Shri D.A. Ukawala
Shri D.H. Chauhan
Dr. Y.T. Patel
Smt. M.M. Desai
Smt. P.M. Mehta

ieesJee ceb[ue
eerceleer eerefle heJeej Je.ceb.e.
eer heg.eg. ieeeleeW[s
eerceleer eeflecee peer. OeeW[
eer kes. mes. meelej[skej
eer yeer. Hejlee[es
[e@. MesKej Sme. meeuekej
GOA DIVISION
keesunehegj ceb[ue
eer. Jeer. [er. megoeces Je.ceb.e.
eer Se. Sce. YeeuesjeJe
eer Sme. Jeer. meewoeiej
[e@. (eerceleer) Sme. meer. meyeveerme
[e@. (eerceleer) Sme. Ss. ]peevles
eer Sme. pes. ngkesjer
KOLHAPUR DIVISION
cegcyeF& ceb[ue - I
eer mebpee jmleesieer Je.ceb.e.
eer ceveer<e metues
eer kes. kes. ieeoe
[e@. mebpee [ebieer
eerceleer megceve [er. Densj
eer Deej. Jeee. ieeJekej
MUMBAI DIVISION I
cegcyeF& ceb[ue - II
eer Sme eYeele Je.ceb.e
uesHe. megveerue keebyeues
eer jepeerJe Keeb[skej
[e@. (eerceleer) eg. Sme. MesJe[s
eer Deej. Sme. meeruees$eer
ke@. Deevebo cegueiegbo
MUMBAI DIVISION II
cegcyeF& ceb[ue - III

eer Sce. Sce. Sue. Jecee& Je.ceb.e.
eerceleer Jeer. Jeer. keguekeCeea
eer Devese ieesiles
eerceleer Sue. nsie[s
eer Sce. Se. ieeviegj[s
eer Sve. yeer. keguekeCeea
MUMBAI DIVISION III
cegcyeF& ceb[ue - IV
eer eJeerCe kegceej Je.ceb.e.
eer efJeveeeke Sve. keebyeues
eerceleer FbeCeer ceuekeeveer
eer Sce. Sme. ef#ejmeeiej
eer efJepee efyejuee
eer Sce. peer. kejkesje
MUMBAI DIVISION IV
veef[ee[ ceb[ue
eer Deej. yeer. Heguepesues, Je.ceb.e.
eerceleer yeer. heer. meesuebkeer
eer yeer. Sce. Meen
eer heer. pewve
eer Sme. kes. hesue
eer yeer. Sce. leesmeveerJeeue
NADIAD DIVISION
Smt. Priti Panwar SDM

Shri P.U. Gaitonde
Smt. Pratima G. Dhond
Shri K.A.Satardekar
Shri B. Furtado
Dr. Shekar S. Salkar
Shri V.D. Sudame SDM

Shri H.M. Bhalerao
Shri S.V. Soudagar
Dr. (Smt.) S.C. Sabnis
Dr. (Smt.) S.A. Zantye
Shri S.J. Hukkeri
Shri Sanjay Rastogi SDM

Shri Manish Sule
Shri K.K. Gada
Dr. Sanjay Dangi
Smt. Suman D. Aher
Shri R.Y. Gaonkar
Shri S. Prabhat SDM

Lt. Sunil Kamble
Shri Rajeev Khandekar
Dr. (Smt.) U.S. Shevde
Shri R.S. Shilotri
Capt. Anand Mulgund
Shri M.M.L. Verma. SDM

Smt. V.V. Kulkarni
Shri Anay Gogte
Smt. L. Hegde
Shri M.H. Gangurde
Shri N.B. Kulkarni
Shri Praveen Kumar SDM
Shri Vinayak N. Kamble
Smt. Indrani Malkani
Shri M.S.Kshirsagar
Shri Vijay Birla
Shri M.G. Karkera
Shri R.B. Fulzele SDM

Smt. B.P. Solanki
Shri B.M. Shah
Shri P. Jain
Shri S.K. Patel
Shri B.M. Toshniwal
veeiehegj ceb[ue
eer heer. meeceue, Je.ceb.e.
eerceleer ueervee Sme. iepeyeeres
eer Deej Sme. Keevepees[s
[e@. Se. yeer. DeheueJeej
eer Deee. Se. keeyeje
eer efJepee veee[g
NAGPUR DIVISION
veebos[ ceb[ue
eer S. kes. keebyeues Je.ceb.e.
[e@. yeer. [er. ienueesle
ees. heer. Sme. meesveeues
[e@. Se. peer. keguekeCeea
eerceleer heer. kes. veejeeCekej
[e@. [er. heer. hegbos
NANDED DIVISION
veeefMeke ceb[ue
eer pes. Deej. Jeeejeieos Je.ceb.e.
eer osJesv [er. yeehe
DeB[. eerOej Jeer. JesJenejs
[e@. peeeer Sce. ieeJeerle
[e@. efJepeee yeer. ieeekeJee[
eer KegjMeero Se. S. kee[eeCeer
Shri P. Samal SDM

Smt. Leena S. Gajbhiye
Shri R.S. Khanzode
Dr. H.B. Appalwar
Shri I.H. Kabra
Shri Vijay Naidu
Shri A.K. Kamble SDM

Dr. B.D. Gahelot
Prof. P.S. Sonale
Dr. H.G. Kulkarni
Smt. P.K. Narayankar
Dr. D.P. Punde
NASHIK DIVISION
Shri J.R. Wairagade SDM
Shri Devendra D. Bapat
Adv. Shridhar V. Vyavhare
Dr. Jayashree M. Gavit
Dr. Vijaya B. Gaikwad
Shri Khurshid H. A. Kadiyani
hetCes ceb[ue
eer. kes. keefojsMeve Je.ceb.e.
eer S. yeer. Keeceyeskej
[e@. yeer. Ss. keebyeuess
eer Sce. yeer. ieeeOevekej
eerceleer Sme. Deej. hejegjs
eer Sme. Sme. hee"ke
PUNE DIVISION
jepekees ceb[ue
eer Sce. Sme. meesuebkeer Je.ceb.e.
[e@. (eerceleer) keefJelee meto
eer pee JemeeJeoe
[e@. yeer. Sce. yeeie[e
eer pes. peer. cesnlee
eer [er. Sce. Meen
RAJKOT DIVISION
meleeje ceb[ue
eer kes. kes. oeme Je.ceb.e.
De@[. (eerceleer) Je<ee& ce[iegUkej
eer Sve. Jeer. GbleJeeues
eer [er. Sce. iegjJe
ees. peer. Sme. keguekeCeea
eer [er. Jeer. heeerue
metjle ceb[ue
eer er. Deej. eewOejer Je.ceb.e.
eer S. Se. ceeboJeerJeeuee
eer Deej. Sme. cesnlee
eer Ss. heer. ieeceerle
eer Se. Sve. osmeeF&
eerceleer efcevee#eer Sme. JemeeJee
Shri K. Kadiresan SDM

Shri A.B. Khambekar
Dr. B.A. Kamble
Shri M.B. Gaidhankar
Smt. S.R. Parchure
Shri S.S. Pathak
Shri M.S. Solanki SDM

Dr. (Smt) Kavita Sood
Shri Jay Vasavda
Dr. B.M. Bagada
Shri J.G. Mehta
Shri D.M. Shah
SATARA DIVISION
Shri K.K.Das SDM
Adv. (Smt.) Varsha Madgulkar
Shri N.V. Untwale
Shri D.M. Gurav
Prof. G.S. Kulkarni
Shri D.V. Patil
SURAT DIVISION
Shri T.R. Chowdary SDM
Shri A.H. Mandviwala
Shri R.S. Mehta
Shri A.P. Gamit
Shri H.N. Desai
Smt. Minaxi S. Vasava
54
49th Annual Report

Leevee ceb[ue
eer pes. mesve Je.ceb.e.
[e@. ceOegkej Deej. [eieuee
eerceleer Sce. Deej. kejbefokej
eer Deefveue Sce. JeeIee[kej
[e@. meer. Sme. oeYee[kej
[e@. Jeer. Jeer. peesMeer
THANE DIVISION
Jeoesoje ceb[ue
eer eesiesv efmebn, Je.ceb.e.
eer Yethesv hejceej
[e@. (eerceleer) efoJee heejsKe
eer [er. kes. Meen
eer. FceefleeePeefceeeB Sce. MesKe
eer efveKeerue heer. peesMeer
VADODARA DIVISION
yeerceeOeejke meefceefle,
Sme.Sme.Sme. ceb[ue, cegbyeF&
eer pes. Sve. oeeueeveer, Je.ceb.e.
eer Sme. pes. meeJeble
eer eMeeble ieesjs
eer Jeer. [yueg. Meeveyeeie
eer S. [er. ogoeYeeF&
eerceleer megceleer iegemeeo
Policyholders Association,
SSS Division, Mumbai
55
Shri J. Sen SDM

Dr. Madhukar R. Dagla
Smt. M.R. Karandikar
Shri Anil M. Waghadkar
Dr.C. S. Dabhadkar
Dr.V. V. Joshi
Shri Yogendra Singh SDM

Shri Bhupendra Parmar
Dr. (Smt.) Divya Parikh
Shri D.K. Shah
Shri Imteyazmia M. Shaikh
Shri Nikhil P. Joshi
Shri J.N. Dialani SDM

Shri S.J. Sawant
Shri Prashant Gore
Shri V.W. Shanbhag
Shri A.D. Dudabhai
Smt. Sumati Guruprasad

meebefJeefOeke (kesvere) uesKee hejer#eke 2005-2006 kes efueS efveegkele
Statutory (Central) Auditors of the Corporation for 2005-2006
keeee&uee kee veece
helee
NAME OF FIRM
ADDRESS
eer. er. Sme. veecyeger

hee&vej
meJe&eer Meen ieghlee SC[ kecheveer
meveoer uesKeekeej
47, De@ueebe, vejerceve hee@Fb,

cegbyeF& - 400 021.
Shri T.S.Nambudiry
Partner
M/s. Shah Gupta & Co.,
Chartered Accountants
47, Atlanta,
Nariman Point,
Mumbai - 400 021
eer. meer. Sce. oeref#ele

hee&vej
meJe&eer peer.[er. Deehes SC[ kecheveer
meveoer uesKeekeej
[êrce esmeer[Wmeer,
1202/17 F&. efMeJeepeer veiej,
Deehes jes[ kes heeme,
hegves - 411 004.
Shri C.M.Dixit
Partner
M/s.G.D.Apte & Co.
Dream Presidency,
1202/17E, Shivaji Nagar,
Off. Apte Road,
Pune - 411 004
eer. kes. Sve. ieghlee

hee&vej
meJe&eer "ekegj JeweveeLe Dewej SC[ kecheveer
meveoer uesKeekeej
212 [er.[er. ceeie&,

3je Gog&Iej,
veF& efouueer - 110 002.
Shri K.N.Gupta
Partner
M/s. Thakur Vaidyanath Aiyar & Co.
212 D.D.Marg, 3rd Urdughar,

New Delhi - 110 002
eer. kes. Sce. ieghlee

hee&vej
meJe&eer yeer. meer. pewve SC[ kecheveer
meveoer uesKeekeej
16/77-S,
efmeJeerue ueeF&vme,
keevehegj - 208 001.
Shri K.M.Gupta
Partner
M/s. B.C.Jain & Co.
16/77-A, Civil Lines,

Kanpur-208 001.
eer. pes. ebmesKejved

hee&vej
meJe&eer hee meskej SC[ DemeesmeerSdme
meveoer uesKeekeej
F-7/635, yesme HeueesDej,

Dejsje keesueveer kes heeme,
Yeesheeue - 462 016.
Shri J.Chandrasekharan
Partner
M/s. Rupa Sekar & Associates
E-7/635, Base Floor,

Near Arera Colony,
Bhopal - 462016.
eer. yeer. kes. Yegefee

hee&vej
meJe&eer kes. Sve. iegiegeree SC[ kecheveer
meveoer uesKeekeej
6meer, efce[uve mêr,

Heues veb. 23, 2jer cebefpeue
keesuekeelee - 700 071.
Shri B.K.Bhutia
Partner
M/s. K.N.Gutgutia & Co.
6C, Middleton Street,

Flat No.23, 2nd Floor,
Kolkata- 700 071
eer. DeeefMeMe cepegceoej

hee&vej
meJe&eer js SC[ js
meveoer uesKeekeej
6, ee& uesve,
keesuekeelee - 700 001.
Shri Ashish Majumdar

Partner
M/s. Ray & Ray
6, Church Lane,
Kolkata- 700 001.
eer. pes. vejefmecne jeJe

hee&vej
meJe&eer vejefmecne jeJe SC[ DemeesmeerSme
meveoer uesKeekeej
DekeMeje, 6-3-609/89,
Deevebo veiej, Kewjeeyeeo,
nwojeyeeo - 500 004
Shri J. Narasimha Rao

Partner
M/s. Narasimha Rao & Associates
Akshara, 6-3-609/89,
Anand Nagar, Khairatabad,
Hyderabad - 500 004.
eer. Sme. ieCesMeve

hee&vej
meJe&eer metjer SC[ kecheveer
meveoer uesKeekeej
70, kees[bceyeekekece neF& jes[,

vebgieeceeyekekece
esvveeF& - 600 034
Shri S. Ganeshan
Partner
M/s. Suri & Co.
70, Kodambakkam High Road,

Nungamabakkam,
Chennai - 600 034.
eer. heer. Sce. KeeerJeeuee

hee&vej
meJe&eer S. pes. Meen SC[ kecheveer
meveoer uesKeekeej
Hees& escyeme&, meer yuee@ke,

65, scejeR[ uesve, Hees&,
cegbyeF& - 400 023.
Shri. P.M.Khatiwala
Partner
M/s. A.J.Shah & Co.
Fort Chambers,
C Block,
65, Tamarind Lane,
Fort, Mumbai - 400 023.
56
49th Annual Report
31 ceee&, 2006 kees meceehle

Je<e& kes efueS efJeeere efJeJejCe
Financial Statements
For the year ended 31st March, 2006
57
Yeejleere peerJeve yeercee efveiece kees uesKee hejer#ekeeW keer efjhees&

nceves 31 ceee& 2006 kes Yeejleere peerJeve yeercee efveiece kes mebueive peerJeve yeercee JeJemeee leLee hetBpeer ceeseve (efveOee&efjle Jeeef<e&keer meefnle) yeercee JeJemeee kes legueve he$eeW keer mebyebefOele
ueeYe SJeb neefve uesKeeW keer leLee Gmeer leejerKe kees meceehle Je<e& kes peerJeve yeercee JeJemeee leLee hetBpeer ceeseve (efveOee&efjle Jeeef<e&keer meefnle) yeercee JeJemeee kes jepemJe uesKeeW keer leLee eeefhle
SJeb Yegieleeve uesKeeW keer (Fme kes yeeo Gmes efJeeere efJeJejCe kes he ceW meboefYe&le efkeee peeSiee) uesKee hejer#ee keer nw, efpemeceW Meeefceue nw megJee (efHepeer), ceejerMeme SJeb uebove MeeKeeDeeW
kee mebyebefOele mLeeveere uesKee hejer#ekeeW eje efkeee uesKee efJeJejCe, 100 ceC[ue keeee&ueeeW, mesJee efveJe=efe SJeb mecetn eespevee keer 69 FkeeF&eeW leLee 2048 MeeKeeDeeW ceW mes 690
MeeKeeDeeW kee efJeJejCe pees efveiece eje efveegkele #es$eere SJeb ceC[ue uesKee hejer#ekeeW eje uesKee hejeref#ele keer ieF& nw leLee 1358 MeeKeeDeeW kee peneB nceves oewje veneR efkeee Gvekee
Devebkesef#ele efJeJejCe SJeb nce efvecve efjhees& osles nw:1)
en efJeeere efJeJejCe efveiece kes eyebOeve kes GejoeefelJe nQ ~ nceeje GejoeefelJe nceejer uesKee hejer#ee hej DeeOeeefjle Fve efJeeere efJeJejCeeW hej Deheveer jee Jekele kejvee nw~
nceves meeceeveleee Yeejle ceW eeefuele uesKee hejer#ee ceevekeeW kes Devegmeej Deheveer uesKee hejer#ee keer nw ~ Fve ceevekeeW keeR Dehes#ee nw efke nce uesKee hejer#ee keer Ssmeer eespevee yeveeSB
leLee Ssmee efve<heeove kejW efke en megefveefMele efkeee pee mekes efke efJeeere efJeJejCe mener nw leLee DeJekeLeve mes mJeleb$e nw ~ uesKee hejer#ee ceW efJeeere efJeJejCeeW ceW Jekele jeefMeeeW
kees meceLe&ve kejves Jeeues mee#e kes hejer#eCe DeeOeej Meeefceue nw ~ uesKee hejer#ee ceW eegkele uesKee efmeebleeW kee cetueebkeve leLee eyebOeve eje efkeS ieS efJeefMe Devegceeve leLee
mecee efJeeere efJeJejCe keer emlegefle Meeefceue nw ~ nceW efJeMJeeme nw efke nceejer uesKee hejer#ee nceejer jee kes efueS leke&mebiele DeeOeej GheueyOe kejeleer nw ~
2)
(ke) nceves Jes meYeer metevee SJeb mheerkejCe eehle efkeS nw pees nceejer meJeexece peevekeejer SJeb efJeMJeeme kes Devegmeej nceejer uesKee hejer#ee kes efueS DeeJeMeke Lee ~ nceves GvnW
meblees<epeveke heeee ~
(Ke) nceejer jee ceW efveiece eje mecegefele yeefneeB Devegjef#ele keer ieF& nw peneb leke Fve yeefneeW keer nceejer peeBe mes eleerle neslee nw ~
(ie) nceejer jee ceW MeeKeeDeeW SJeb ceC[ue keeee&ueeeW mes Debkesef#ele SJeb Devebkesef#ele oesveeW keer mecegefele efJeJejefCeeeB eehle keer ieF& nw ~ Gvekeer meceer#ee keer ieF& nw leLee uesKee
hejer#ee kes efueS GvnW heee&hle heeee ieee nw ~
(Ie) Fme efjhees& eje efoS ieS efveiece kes efJeeere efJeJejCe, uesKee yeefneeB SJeb efJeJejefCeeeW kes Deveghe nw ~
(*) oseleeDeeW kee yeerceebkeve cetueebkeve efveiece kes efveegkele yeerceebkeke kee GejoeefelJe nw ~ oseleeDeeW kee yeerceekebve cetueebkeve efveegkele yeerceebkeke eje eceeefCele efkeee ieee
nw~ leLee Gmekeer jee ceW Ssmes cetueebkeve kes efueS hetJee&vegceeve yeercee efJeefveeeceke efJekeeme eeefOekejCe SJeb Yeejleere yeerceebkeve meYee eje peejer efoMee efveosMeeW SJeb ceeveoC[eW
kes Devegmeej eeefOekejCe keer menceleer mes nw ~ nceves efveiece kes efJeeere efJeJejCeeW hej jee Jekele kejves kes efueS efveegkele yeerceebkeke kes eceeCehe$e hej efJeMJeeme efkeee nw ~
3)
nceejer jee ceW leLee nceejer meJeexece peevekeejer kes Devegmeej leLee nceW efoS ieS mheerkejCeeW kes Devegmeej SJeb uesKee hej efheefCCeeeW SJeb efJeefMe uesKee veerefleeeW kes meeLe heef"le:(ke) (i) Gkele legueve he$e 31 ceee& 2006 kees efveiece kes keejesyeej keer mener SJeb mJe lemJeerj osleer nw ~
(ii) jepemJe uesKee 31 ceee& 2006 kees meceehle Je<e& kes efueS peerJeve JeJemeee kes DeefOeMes<e / hetBpeer ceeseve (efveOee&efjle Jeeef<e&keer meefnle) yeercee JeJemeee kes Iees keer mener
SJeb Gefele lemJeerj emlegle kejlee nw ~
(iii) ueeYe SJeb neefve uesKee 31 ceee& 2006 kees meceehle Je<e& kes efueS peerJeve JeJemeee mecyeefvOele kes ueeYe/ (hetBpeer ceeseve efveOee&efjle Jeeef<e&keer meefnle) yeercee JeJemeee
mes mecyeefvOele neefve keer mener SJeb Gefele lemJeerj emlegle kejlee nw ~
(iv) eeefhle SJeb Yegieleeve uesKee 31 ceee& 2006 kees meceehle Je<e& kee eeefhle SJeb Yegieleeve kee mener SJeb meeHe lemJeerj oslee nw ~
(Ke) efJeeere efJeJejCe, yeercee DeefOeefveece 1938 (1938 kee 4) SJeb yeercee efJeefveeeceke SJeb efJekeeme eeefOekejCe DeefOeefveece 1999 (1999 kee 41) leLee kebheveer DeefOeefveece
1956 (1956 kee 1) keer Dehes#eeDeeW kes Devegmeej leLee eeespe meercee leke SJeb eLeehesef#ele {bie mes leweej efkeS ieS nw ~
(ie) efveJesMeeW kees yeercee DeefOeefveece 1938 SJeb yeercee efJeefveeeceke SJeb efJekeeme eeefOekejCe (yeercee kebheefveeeW kees efJeeere efJeJejCe leweej kejvee SJeb uesKee hejer#ee efjhees& leweej
kejvee ) efJeefveeceve 2002 kes eeJeOeeveeW kes Devegmeej cetueebefkele efkeee ieee nw ~
(Ie) efveiece eje DeheveeF& ieF& uesKee veerefleeeB mecegefele nw leLee Yeejleere meveoer uesKeekeej mebmLeeve eje peejer eeespe uesKee ceevekeeW SJeb yeercee efJeefveeeceke SJeb efJekeeme
eeefOekejCe (yeercee kebheveereeW kee efJeeere efJeJejCe SJeb uesKee hejer#ee (efjhees& leweej kejvee) efJeefveeceve 2002 ceW efJeefnle uesKee efmeebleeW ee yeercee efJeefveeeceke SJeb efJekeeme
eeefOekejCe eje peejer DeeosMeeW SJeb efveosMeeW kes Devegheeueve ceW nw ~
58
49th Annual Report

Auditors Report to the Life Insurance Corporation of India
We have audited the attached Balance Sheet of the Life Insurance Corporation of India as at 31st March 2006, for the Life Insurance Business and the
Capital Redemption (including Annuity Certain) Insurance Business, the relative Profit and Loss Accounts and Revenue Accounts for the Life Insurance
Business and the Capital Redemption (including Annuity Certain) Insurance Business for the year ended on that date and the Receipts and Payments
Account for the year ended on that date (hereafter referred to as Financial Statements) in which are incorporated returns of Suva (Fiji), Mauritius and
London branches audited by respective local auditors, of 100 Divisional Offices, 69 Units of Pension & Group Scheme and 690 branches out of 2048
branches audited by Zonal and Divisional Auditors appointed by the Corporation and unaudited returns in respect of 1358 branches not visited by us and
we report as under:1.
These financial statements are the responsibility of the Corporations Management. Our responsibility is to express an opinion on these financial
statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the
audit to obtain reasonable assurance as to whether the financial statements are free of material misstatement. An audit includes examining, on a test
basis evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used
and significant estimates made by Management, as well as evaluating the overall financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
2.
a)
We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our
audit and have found them to be satisfactory.
b)
In our opinion proper books of account have been maintained by the Corporation so far as it appears from our examination of those books.
c)
In our opinion proper returns both audited and unaudited from branches and divisional offices have been received, reviewed and found
adequate for the purpose of the audit.
d)
The Financial Statements of the Corporation dealt with by this report are in agreement with the books of account and returns.
e)
The actuarial valuation of liabilities is the responsibility of the Corporations appointed actuary. The actuarial valuation of liabilities has been
certified by the appointed actuary, and in his opinion, the assumptions for such valuation, are in accordance with the guidelines and norms,
issued by the Insurance Regulatory and Development Authority, and the Actuarial Society of India in concurrence with the Authority. We have
relied on the appointed actuarys certificate to express an opinion on the financial statements of the Corporation.
3.
In our opinion and to the best of our information and according to the explanations given to us and read together with the Notes to Accounts and
Significant Accounting Policies:
a)
(i)
The said Balance Sheets give a true and fair view of the state of affairs of the Corporation as at 31st March, 2006.
(ii)
The Revenue Accounts give a true and fair view of the surplus in respect of Life business/deficit in respect of Capital Redemption
(including Annuity Certain) Insurance Business for the year ended 31st March, 2006.
(iii) The Profit and Loss Accounts give a true and fair view of the profit in respect of Life business/loss in respect of Capital Redemption
(including Annuity Certain) Insurance Business for the year ended 31st March, 2006.
(iv) The Receipts and Payments Account gives a true and fair view of the receipts and payments for the year ended 31st March, 2006.
b)
The Financial Statements have been prepared in accordance with the requirements of the Insurance Act, 1938 (4 of 1938), the Insurance
Regulatory and Development Authority Act, 1999 (41 of 1999) and the Companies Act, 1956 (1 of 1956), to the extent applicable and in the
manner so required.
c)
The Investments have been valued in accordance with the provisions of the Insurance Act, 1938 and Insurance Regulatory and Development
Authority (Preparation of Financial Statements and Auditors Report of Insurance Companies) Regulations, 2002.
d)
The Accounting policies adopted by the Corporation are appropriate and are in compliance with the applicable Accounting Standards issued by
the Institute of Chartered Accountants of India and with the accounting principles as prescribed in the Insurance Regulatory and Development
Authority (Preparation of Financial Statements and Auditors Report of Insurance Companies) Regulations, 2002, and orders or directions
issued by Insurance Regulatory and Development Authority.
59

4)
nceW oer ieF& metevee leLee mheerkejCe kes Devegmeej SJeb nceejer meJeexece peevekeejer SJeb efJeMJeeme kes Devegmeej nce Deeies en Yeer eceeefCele kejles nw efke
(i) nceves efJeeere efJeJejCeeW kes meeLe mebueive eyebOeve efjhees& keer meceer#ee keer nw leLee eyebOeve efjhees& SJeb efJeeere efJeJejCeeW kes yeere keesF& ele#e ieueleer ee JeemleefJeke
Demebielelee veneR nw ~
(ii) efveiece ves yeercee efJeefveeeceke SJeb efJekeeme eeefOekejCe mes eehle hebpeerkejCe kes mebyebOe ceW efveOee&efjle efveyebOeve SJeb Meleex kee Devegheeueve efkeee nw ~
(iii) nceves JeemleefJeke efvejer#eCe eje ee eceeCe he$eeW keer emlegefle eje ee JeeGejeW eje pees Yeer ceeceuee nes vekeo Mes<e, efveJesMe SJeb eefleYetefleeeW mes mebyebefOele efveiece eje efoS
ieS $e+CeeW keer peebe keer nw ~
(iv) efveiece efkemeer Yeer veeme kes veemeer kes he ceW keee& veneR kejlee nw ~
(v) heeefuemeerOeejkeeW keer efveefOeeeW keer eeespelee SJeb efveJesMe mes mebyebefOele yeercee DeefOeefveece 1938 (1938 kee 4) kes eeJeOeeveeW kes GuuebIeve ceW heeefuemeerOeejkeeW keer efveefOeeeW
keer heefjmebheefeeeW kes efkemeer Yeeie kee hejes#e ee Dehejes#e he mes eeespe veneR efkeee ieee nw ~
60
49th Annual Report

4.
According to the information and explanations given to us and to the best of our knowledge and belief, we further certify that,
i)
We have reviewed the Management Report attached with the Financial Statements and there are no apparent mistakes or material inconsistencies
between the Management Report and the Financial Statements.
ii)
The Corporation has complied with the terms and conditions of registration stipulated by the Insurance Regulatory and Development Authority.
iii)
We have verified the cash balances, investments and securities relating to the loans given by the Corporation by actual inspection or by
production of certificates or vouchers as the case may be.
iv)
The Corporation does not act as a trustee of any trust.
v)
No part of the Assets of the Policyholders Funds has been directly or indirectly applied in contravention of the provisions of the Insurance Act,
1938 (4 of 1938) relating to the application and investments of the Policyholders Funds.
"ekegj JeweveeLe Deej SC[ keb. kes efueS
yeer.meer. pewve SC[ keb. kes efueS
For Thakur Vaidyanath Aiyar & Co.
For B. C. Jain & Co.
kes. Sve. ieghlee (hee&vej)
kes. Sce. ieghlee (hee&vej)
K. N. Gupta (Partner)
K. M. Gupta (Partner )
me.e.
M. No. 009169
me.e. M. No. 70469
hee Meskej SC[ Demees. kes efueS
kes. Sve. iegiegeree SC[ keb. kes efueS
For Rupa Sekar & Associates
For K. N. Gutgutia & Co.
pes. ebMeskejve (hee&vej)
yeer. kes. Yetleeree (hee&vej)
J. Chandrasekaran (Partner)
B. K. Bhutia (Partner)
me.e. M. No. 19666
me.e. M. No. 59363
vejefmebn jeJe SC[ Demees. kes efueS
metjer SC[ keb. kes efueS
For Narasimha Rao & Associates
For Suri & Co.
pes. vejefmebn jeJe (hee&vej)
Sme. ieCesMeve (hee&vej)
J. Narasimha Rao (Partner)
S. Ganesan (Partner)
me.e. M. No. 011591
me.e. M. No. 018525
js SC[ js kes efueS
S. pes. Meen SC[ keb. kes efueS
For Ray & Ray
For A. J. Shah & Co.
S. cepegceoej (hee&vej)
heer. Sce. KeeerJeeuee (hee&vej)
A. Majumdar (Partner)
P. M. Khatiwala (Partner)
me.e. M. No. 57041
me.e. M. No. 15544
Mene ieghlee SC[ keb. kes efueS
peer. [er. Deehes SC[ keb. kes efueS
For Shah Gupta & Co.
For G. D. Apte & Co.
er. Sme. vecyeger (hee&vej)
meer. Sce. oeref#ele (hee&vej)
T. S. Nambudiry (Partner)
C. M. Dixit (Partner)
me.e. M. No. 9159
me.e. M. No. 17532
meveoer uesKeekeej
CHARTERED ACCOUNTANTS
cegbyeF& : 30 Deiemle, 2006

Mumbai :
61
30th August, 2006
Heece& S-yeerSme FORM A-BS

Name of the Insurer: Life Insurance Corporation of India
Registration No. 512 Dated: 14.3.2005
yeerceekelee& kee veece - Yeejleere peerJeve yeercee efveiece

HebpeerkejCe keer mebKee 512 leLee leejerKe 14/3/2005
31 ceee& 2006 leke kegue JeJemeee mes mebyebefOele legueve-He$e
BALANCE SHEET AS AT 31ST MARCH, 2006 IN RESPECT OF TOTAL BUSINESS
(Hees ueeKees ceW)

(Rupees in lacs)
efJeJejCe
Particulars
Devegmeteer
Schedule
iewj-mebye JeJemeee
Non-linked Business
Yeejle ceW Yeejle kes yeenj
mebye JeJemeee
kegue
Linked Business
Total
In India
Out of India
In India
Out of India
eeuet Je<e&
efHeues Je<e&
Current Year Previous Year
efveefOeeeW kee eesle / SOURCES OF FUNDS

MesejOeejkeeW keer efveefOeeeB
SHAREHOLDERS' FUNDS:
Mesej HetBpeer
Share Capital
500.00
0.00
0.00
0.00
500.00
500.00
Deejef#eleefveefOe SJeb DeefOeMes<e
17095.59
104.26
0.00
0.00
17199.85
13218.89
0.00
0.00
0.00
0.00
0.00
0.00
17595.59
104.26
0.00
0.00
17699.85
13718.89
0.00
0.00
0.00
0.00
0.00
0.00
6521730.26
515.17
0.00
0.00
6522245.43
2815571.95
44987826.45
92683.52
(111663.86)
1.88
44968847.99
38102275.97
291182.52
(6854.35)
0.00
0.00
284328.17
282624.48
0.00
0.00
1343171.43
18.69
1343190.12
474878.56
51800739.23
86344.34
1231507.57
20.57
53118611.71
41675350.96
0.00
2723.73
0.00
0.00
2723.73
1966.02
51818334.82
89172.33
1231507.57
20.57
53139035.29
41691035.87
Reserves and Surplus
pecee/(veeceW) mener cetue HeefjJele&ve uesKee
Credit/(Debit) Fair Value Change Account
GHe-eesie
Sub-Total
GOeejer
BORROWINGS
HeeefuemeerOeejkeeW keer efveefOeeeB
POLICYHOLDERS' FUNDS:
pecee/(veeceW) mener cetue HeefjJele&ve uesKee
Credit/(Debit) Fair Value Change Account
Heeefuemeer oeefelJe
Policy Liabilities
yeercee Deejef#eleefveefOe
Insurance Reserves
6A
mebye oeefelJeeW kes efueS eeJeOeeve
Provision For Linked Liabilities
GHe-eesie
Sub-Total
YeefJe<e efJeefveeespeveeW kes efueS efveefOeeeB
FUNDS FOR FUTURE APPROPRIATIONS
kegue
TOTAL
efveefOeeeW kee eeesie
APPLICATION OF FUNDS
efveJesMe
INVESTMENTS
MesejOeejkeeW kes
Shareholders'
6807.45
9832.98
0.00
0.00
16640.43
12063.27
HeeefuemeerOeejkeeW kes
Policyholders'
8A
45192783.05
85859.10
0.00
0.00
45278642.15
35568557.53
mebyeb oeefelJe jef#ele kejves kes efueS HeefjmecHeefeeeB
8B
0.00
0.00
1231507.57
20.57
1231528.14
422509 .52
5500660.21
11777.75
0.00
0.00
5512437.96
5199192.55
10
125195.94
1018.52
0.00
0.00
126214.46
121842.79
jeske[ SJeb yeQke ceW DeefleMes<e
Cash and Bank Balances
11
1025374.02
5876.90
0.00
0.00
1031250.92
800155.67
Deefece SJeb Deve HeefjmecHeefeeeB
12
1821832.70
2293.10
0.00
0.00
1824125.80
1619705.31
12497.04
(12497.04)
0.00
0.00
0.00
0.00
2859703.76
(4327.04)
0.00
0.00
2855376.72
2419860.98
ASSETS HELD TO COVER LINKED LIABILITIES
$eCe
LOANS
Deeue HeefjmecHeefeeeB
FIXED ASSETS
eeuet HeefjmecHeefeeeB
CURRENT ASSETS
Advances and Other Assets
Deblej keeee&uee Mes<e
Inter Office Balance
GHe-eesie (ke) / Sub-Total (A)
62
49th Annual Report

efJeJejCe
iewj-mebye JeJemeee
Devegmeteer
Particulars
Schedule
mebye JeJemeee
Non-linked Business
Linked Business
eeuet Je<e&
efHeues Je<e&
0.00
325321.92
489025.01
0.00
0.00
1556482.65
1563965.76
1950.20
0.00
0.00
1881804.57
2052990.77
979849.39
(6277.24)
0.00
0.00
973572.15
366870.21
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
51805296.04
102211.11
1231507.57
20.57
53139035.29
41691035.87
In India
Out of India
In India
Out of India
13
323524.65
1797.27
0.00
14
1556329.72
152.93
1879854.37
eeuet oeefelJe
CURRENT LIABILITIES
eeJeOeeve
PROVISIONS
GHe-eesie (Ke)
Sub-Total (B)
Meg eeuet HeefjmecHeefeeeB (ie) = (ke - Ke)

NET CURRENT ASSETS (C) = (A - B)
efJeefJeOe Jee (pees yes Keeles ceW ve [eues

ieS neW ee meceeeesefpele ve ngS neW)
MISCELLANEOUS EXPENDITURE
(to the extent not written off or adjusted)
15
ueeYe-neefve uesKee ceW veeceW Mes<e

(MesejOeejkeeW kee Keelee)
DEBIT BALANCE IN PROFIT & LOSS
ACCOUNT (Shareholders' Account)
kegue
TOTAL
cenJeHetCe& uesKeveerefleeeB leLee uesKee mecyevOeer efHHeefCeeeB

Significant Accounting Policies & Notes to Accounts
15A
nceejer Gme leejerKe Jeeueer efjhees& kes Devegmeej

As per our report of even date

me.e. M. No. 9169
me.e. M. No. 70469
me.e. M. No. 59363
For Suri & Co.
me.e. M. No. 018525
js SC[ js kes efueS
For Ray & Ray
me.e. M. No. 57041
me.e. M. No. 15544
me.e. M. No. 9159
eyebOe efveosMeke
D. K. Mehrotra
Managing Director
Lee@ceme cewLet er.

Thomas Mathew T.
efveiece kes meome

Jeer. heer. Mesder
Members of the Corporation
V. P. Shetty
Sme. nefjnjve
ecegKe (efJe. SJeb ues.)
S. Hariharan
Chief (F & A)
peer. Sve. DeeJeeue
efveegkele efyeceebkeke
G. N. Agarwal
Appointed Actuary

me.e. M. No. 17532
meveoer uesKeekeej
cegbyeF&
30 Deiemle, 2006
Mumbai
: 30 August, 2006
63
Chairman

DeOe#e
T. S. Vijayan
me.e. M. No. 19666

me.e. M. No. 011591
er. Sme. efJepeeve
Heece& S-DeejS
31 ceee& 2006 kees meceeHle Je<e& kes efueS

REVENUE ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2006
efJeJejCe
Particulars
iewj-mebye JeJemeee kegue (eeuet Je<e&)
Devegmeteer
Schedule
Non-Linked Business Total (Current Year)
menYeeieer
iewj-menYeeieer
Participating
Non-Participating
Yeejle ceW
Yeejle kes yeenj
Out of India
In India
Yeejle ceW
Yeejle kes yeenj
7268443.32
13212.43
758911.85
53.58
(3315.97)
(18.58)
(119.37)
0.00
66.71
0.00
84.57
0.00
7265194.06
13193.85
758877.05
53.58
3115140.16
6672.98
390347.46
69.21
537393.34
773.37
9105.50
0.00
(143221.02)
(257.56)
(10451.47)
0.00
0.00
0.00
0.00
0.00
14516.37
719.43
868.71
0.00
72331.20
12.22
467.43
0.00
10861354.11
21114.29
1149214.68
122.79
683485.53
1162.48
5199.12
5.94
487184.86
2046.77
15291.22
13.14
2040.81
3069.33
0.12
0.00
20966.23
1.00
8.35
0.00
396018.11
743.98
0.00
11.74
(2653.42)
0.00
18.01
0.00
0.00
0.00
0.00
0.00
9132.19
46.57
(2534.84)
27.95
1596174.31
7070.13
17981.98
58.77
In India
Out of India
Deefpe&le Meg eerefceece

Premiums earned - net
(ke) efeefceece
(a)
Premium
(Ke) Hegve&yeercee DeblejCe

(b)
Reinsurance ceded
(ie) Hegve&yeercee mJeerkeej

(c)
Reinsurance accepted
efveJesMe mes Deee

(ke) yeepe, ueeYeebMe SJeb efkejeee kegue

(a)
Interest, Dividends & Rent - Gross
(Ke) efveJesMe efyeeer/ceeseve Hej ueeYe

(b)
Profit on sale/redemption of investments
(ie) (efveJesMe efyeeer/ceeseve Hej neefve)

(c)
(Loss on sale/redemption of investments)
(Ie) Hegvece&tueebkeve/mener cetue HeefjJele&ve Hej DeblejCe/ueeYe*

(d)
Transfer/Gain on revaluation/change in fair value*
(Ie) Deve Deee

(e)
Other Income
(i) yes Keeles ceW [eueer jeefMeeeB
(i) Amounts written back
(ii) Hegkej eeeqHleeeB
(ii) Sundry Receipts
kegue (ke)
TOTAL (A)
keceerMeve
Commission
yeercee JeJemeee mes mebyebefOele Heefjeeueve Kee&

Operating Expenses related to Insurance Business
Deve Jee efJeefvecee

Other Expenses: Exchange
mebefoiOe $eCeeW kes efueS eeJeOeeve

Provisions for Doubtful debts
kejeOeeve kes efueS eeJeOeeve

Provisions for taxation
eeJeOeeve (kejeOeeve kes Deefleefjkele)

Provisions (other than taxation)
(ke) efveJesMe kes cetue ceW (Meg) keceer kes efueS

(a)
For diminution in the value of investments (Net)
(Ke) DeeJeMeke MeesOe#ecelee meercee kes efueS eeJeOeeve

(b)
Provision for Required Solvency Margin
(ie) Deve
(c)
Others
kegue (Ke)
TOTAL (B)
64
49th Annual Report

FORM A-RA
kegue JeJemeee mes mebyebefOele jepemJe uesKee HeeefuemeerOeejkeeW kee uesKee (lekeveerkeer uesKee)
IN RESPECT OF TOTAL BUSINESS Policyholders Account (Technical Account)
(Hees ueeKeeW ceW)

(Rupees in lacs)
mebye JeJemeee
Linked Business
kegue efHeues Je<e&

Total (Previous Year)
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
Non-Participating #
Participating
Non-Participating
Participating
Non-Participating
Yeejle ceW
Yeejle kes yeenj
1038582.49
18.69
7281655.75
1797566.61
6325016.33
1187712.65
0.00
0.00
(3334.55)
(119.37)
(4158.39)
(136.83)
In India
65
kegue eeuet Je<e&

Total (Current Year)
Out of India
0.00
0.00
66.71
84.57
8.57
(105.32)
1038582.49
18.69
7278387.91
1797531.81
6320866.51
1187470.50
35630.45
3.46
3121813.14
426050.58
2943120.61
354629.86
63446.60
0.40
538166.71
72552.50
409691.25
21035.95
(12.70)
0.00
(143478.58)
(10464.17)
(89434.61)
(7487.45)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
15235.80
868.71
12943.92
981.36
45213.05
0.00
72343.42
45680.48
76505.21
8951.33
1182859.89
22.55
10882468.40
2332219.91
9673692.89
1565581.55
19638.87
0.00
684648.01
24843.93
612113.66
12403.03
99619.73
0.34
489231.63
114924.43
531841.39
66877.02
0.00
0.02
5110.14
0.14
(518.31)
0.00
0.00
0.00
20967.23
8.35
109935.75
1.51
0.00
1.62
396762.09
13.36
561912.40
12.23
0.00
0.00
(2653.42)
18.01
9929.97
(38.12)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
9178.76
(2506.89)
2786.59
3801.93
119258.60
1.98
1603244.44
137301.33
1828001.45
83057.60

31 ceee& 2006 kees meceeHle Je<e& kes efueS
efJeJejCe
iewj-mebye JeJemeee kegue (eeuet Je<e&)
Devegmeteer
Particulars
Schedule
Non-Linked Business Total (Current Year)
menYeeieer
iewj-menYeeieer
Participating
Non-Participating
Yeejle ceW
Yeejle kes yeenj
Out of India
In India
Yeejle ceW
Yeejle kes yeenj
2981881.48
10255.08
399325.04
535.55
29643.66
80.16
0.00
0.00
6191630.54
3555.99
731907.66
(471.53)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
9203155.68
13891.23
1131232.70
64.02
62024.12
152.93
0.00
0.00
62024.12
152.93
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
62024.12
152.93
0.00
0.00
In India
Out of India
Deoe efkeee ieee ueeYe (Meg)

Benefits paid (Net)
Deoe efkeee ieee Debleefjce yeesveme

Interim Bonuses Paid
peerJeve HeeefueefmeeeW kes mecyevOe ceW oeefelJe cetueebkeve ceW HeefjJele&ve

Change in valuation of liability in respect of life policies
(ke) kegue**
(a) Gross**
(Ke) Hegve&yeercee ceW Debleefjle jeefMe

(b)
Amount ceded in Reinsurance
(ie) Hegve&yeercee ceW mJeerke=le jeefMe

(c)
Amount accepted in Reinsurance
mebyeOo oseleeDeeW kes eeJeOeeve ceW DeblejCe

Transfer to provision for Linked Liabilities
kegue (ie)
TOTAL (C)
DeefOeMes<e/Ieee (Ie) = (ke)-(Ke)-(ie)

SURPLUS/(DEFICIT) (D) = (A)-(B)-(C)
efJeefveeespeve
APPROPRIATIONS
MesejOeejkeeW kes uesKee ceW DeblejCe

Transfer to Shareholders Account
heeefuemeerOeejkeeW kes uesKee ceW DeblejCe

Transfer to Policyholders
YeefJe<e kes efJeefveeespeve efveefOeeeW kees DeblejCe

Transfer to Funds for Future Appropriations
kegue (Ie)
TOTAL (D)
# mebye JeJemeee ceW leerve iewj menYeeieer eespevee nw veecele yeercee Hueme, he-etej hueme leLee peerJeve hueme
* eeefOekeejer eje efJeefveefo& ceeveoC[eW kes Devegmeej ceevee ngDee heeh-e ueeYe oMee&lee nw~
** yeesveme Deeyebve kes yeeo ieefCeleere Deejef#ele efveefOe oMee&lee nw~
Je<e& kes oewjeve kegue DeefOeMes<e:
(ke) Debleefjce yeesveme
(Ke) heeefuemeerOeejkeeWkees yeesveme kee Deebyeve
(ie) jepemJe uesKee ceW oMee&ee ieee DeefOeMes<e
(Ie) kegue DeefOeMes<e (ke+Ke+ie)
.
.
.
.
29723.82
1181399.36
62177.05
1273300.23
pewmee efke yeercee DeefOeefveece 1938 keer Oeeje 40Ke (4) kes Devegmeej Jeebefle nw, nce eceeefCele kejles nw efke nceejer meJeexece peevekeejer Deewj efJeMJeeme kes Devegmeej leLee nceW oer ieF& metevee Deewj mHeerkejCe kes Devegmeej
Deewj pewmee efke nceW efveiece keer Keelee yeefneeW kes Hejer#eCe mes ueielee nw
(ke) efveiece eje mebHeeefole peerJeve yeercee JeJemeee mes mecyeefvOele meYeer eyebOe Jee jepemJe Keeles ceW (menYeeieer/iewj-menYeeieer) Hetjer lejn JeeJele veeceW efkeS nQ~
(Ke) efveiece eje mebHeeefole Demebye leLee mebye JeJemeee mes mecyeefvOele mecemle eYeej, mebyebefOele jepemJe KeeleeW ceW Hetjer lejn veeceW efkeS ieS nQ~
GHejesefuueefKele DevegmetefeeeB jepemJe uesKee kes DebieYetle nQ~
# Linked business comprises of three non-participating plans, viz. Bima Plus, Future Plus and Jeevan Plus.
* Represents the deemed realised gain as per norms specified by the Authority.
** Represents Mathematical Reserves after allocation of bonus.
Total surplus during the year:
(a) Interim Bonus
Rs.
29723.82
(b) Allocation of Bonus to Policy Holders
Rs. 1181399.36
(c) Surplus shown in the Revenue Account Rs.
62177.05
(d) Total surplus (a+b+c)
Rs. 1273300.23
As required by Section 40-B(4) of the Insurance Act, 1938 we certify that to the best of our knowledge and belief and according to the information and explanations given
to us and so far as appears from our examination of the Corporations books of accounts
(a) all expenses of management in respect of Life Insurance Business transacted by the Corporation have been fully debited to the Revenue Account- Participating/NonParticipating as expenses.
(b) all charges incurred in respect of the Life Insurance Business transacted by the Corporation in respect of Non-Linked and Linked Business have been fully debited by
the Corporation in the respective Revenue Accounts.
The Schedules referred to above form an integral part of the Revenue Account.
66
49th Annual Report

kegue JeJemeee mes mebyebefOele jepemJe uesKee HeeefuemeerOeejkeeW kee uesKee (lekeveerkeer uesKee) (eeuet)
(Hees ueeKeeW ceW)

(Rupees in lacs)
IN RESPECT OF TOTAL BUSINESS Policyholders Account (Technical Account) (Contd...)
mebye JeJemeee
Linked Business
kegue eeuet Je<e&
kegue efHeues Je<e&
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
Non-Participating
Participating
Non-Participating
Participating
Non-Participating
Yeejle ceW
Yeejle kes yeenj
713.91
0.00
2992136.56
400574.50
2500962.55
343082.66
0.00
0.00
29723.82
0.00
19529.49
0.00
0.00
0.00
6195186.53
731436.13
5255539.24
760818.53
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1062887.38
20.57
0.00
1062907.95
0.00
378622.76
1063601.29
20.57
9217046.91
2194918.58
7776031.28
1482523.95
0.00
0.00
62177.05
0.00
69660.16
0.00
0.00
0.00
62177.05
0.00
69660.16
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
62177.05
0.00
69660.16
0.00
In India
Out of India
nceejer Gme leejerKe Jeeueer efjHees& kes Devegmeej

me.e. M. No. 009169
me.e. M. No. 19666
K. M. Gupta (Partner)
me.e. M. No. 70469

me.e. M. No. 011591
js SC[ js kes efueS
For Ray & Ray

me.e. M. No. 9159

me.e. M. No. 59363

me.e. M. No. 15544


me.e. M. No. 17532
er. Sme. efJepeeve
DeOe#e
T. S. Vijayan
Chairman
eyebOe efveosMeke
D. K. Mehrotra
Managing Director
Lee@ceme cewLet er.

Thomas Mathew T.
Jeer. heer. Mesder
efveiece kes meome

Members of the
Corporation
For Suri & Co.
V. P. Shetty
me.e. M. No. 018525
Sme. nefjnjve
S. Hariharan
Chief (F & A)
cegbyeF&
30 Deiemle, 2006
peer. Sve. DeeJeeue
Mumbai
: 30 August, 2006
G. N. Agarwal
Appointed Actuary
me.e. M. No. 57041
meveoer uesKeekeej
67
Heece& S-HeerSue FORM A-PL


31 ceee& 2006 kees meceeHle Je<e& kee kegue JeJemeee mes mebyebeOf ele ueeYe-neefve uesKee MesejOeejkeeW kee uesKee (iewj lekeveerkeer uesKee)
PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2006 IN RESPECT OF TOTAL BUSINESS
Shareholders Account (Non-technical Account)
efJeJejCe
Particulars
Devegmeteer
Schedule
iewj-mebye JeJemeee
Non-linked Business
mebye JeJemeee
Linked Business
(Hees ueeKeeW ceW)
(Rupees in lacs)
kegue
Total
eeuet Je<e&
efHeues Je<e&
0.00
62177.05
69660.16
0.00
0.00
994.65
1063.28
0.00
0.00
0.00
0.00
22.48
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
62865.47
306.23
0.00
0.00
63171.70
70745.92
0.00
13.69
0.00
0.00
13.69
(90.58)
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
13.69
0.00
0.00
13.69
(90.58)
62865.47
292.54
0.00
0.00
63158.01
70836.50
0.00
0.00
0.00
0.00
0.00
0.00
62865.47
292.54
0.00
0.00
63158.01
70836.50
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
62024.12
152.93
0.00
0.00
62177.05
69660.16
0.00
0.00
0.00
0.00
0.00
0.00
841.35
139.61
0.00
0.00
980.96
1176.34
0.00
0.00
0.00
0.00
0.00
0.00
In India
Out of India
In India
Out of India
62024.12
152.93
0.00
841.35
153.30
0.00
HeeefuemeerOeejkeeW kes uesKee (lekeveerkeer uesKee) mes Mes<e kees

Deesef<ele 31-3-2006 leke
Balance brought forward from the Policyholders
Account (Technical Account) : As at 31.3.2006
efveJesMe mes Deee

(ke) yeepe, ueeYeebMe SJeb efkejeee-Meg

(a)
Interest, Dividends & Rent - Gross
(Ke) efveJesMe keer efye$eer / ceeseve Hej ueeYe

(b)
Profit on sale/redemption of investments
(ie) (efveJesMe keer efye$eer/ceeseve Hej neefve)

(c)
(Loss on sale/redemption of investments)
Deve Deee
Other Income
kegue (ke)
TOTAL (A)
yeercee JeJemeee mes meerOes mebyebefOele Keeex kes Deefleefjkele

Deve Kee&
Expenses other than those directly related to the
insurance business
eeJeOeeve (kejeOeeve kes Deefleefjkele)

Provisions (Other than taxation)
(ke) efveJesMe kes cetue ceW Meg keceer

(a)
(Ke) Deve
(b)
Others
kegue (Ke)
TOTAL (B)
ueeYe / (neefve) kej HetJe&

Profit/(Loss) before tax
kejeOeeve kee eeJeOeeve

Provision for Taxation
ueeYe/(neefve) kej HeMeeled
Profit/Loss after tax

efJeefveeespeve / APPROPRIATIONS
(ke) legueve He$e mes Deesef<ele Deejef#eleefveefOe / DeefOeMes<e

(a)
(Ke)
Brought forward Reserve/Surplus from

the Balance Sheet
Je<e& kes oewjeve eoe ueeYeebMe (5% cetueebkeve
DeefOeMes<e kesvere mejkeej kees eoe)

(b)
Interim Dividends paid during the year

(5% Valuation surplus paid to Central Government)
(ie) emleeefJele Debeflece ueeYeebMe

(c)
Proposed final dividend
(Ie) ueeYeebMe Deeyebve hej kej

(d)
Dividend Distribution on Tax
(*) meeceeve Deejef#eleefveefOe kees DeblejCe

(e)
Transfer to General Reserve
legueve He$e kees Deesef<ele ueeYe
Profit carried forward to the Balance Sheet
68
49th Annual Report


er. Sme. efJepeeve
DeOe#e
T. S. Vijayan
Chairman

eyebOe efveosMeke
D. K. Mehrotra
Managing Director
me.e. M. No. 009169
me.e. M. No. 70469

me.e. M. No. 19666
me.e. M. No. 59363

me.e. M. No. 011591
For Suri & Co.
me.e. M. No. 018525
js SC[ js kes efueS
For Ray & Ray
Thomas Mathew T.
efveiece kes meome

Jeer. heer. Mesder
V. P. Shetty
me.e. M. No. 57041
me.e. M. No. 15544
Sme. nefjnjve
S. Hariharan
Chief (F & A)
peer. Sve. DeeJeeue
G. N. Agarwal
Appointed Actuary
me.e. M. No. 9159
me.e. M. No. 17532
meveoer uesKeekeej
cegbyeF&
30 Deiemle, 2006
Mumbai
: 30 August, 2006
69
Lee@ceme cewLet er.

DevegmetefeeeB pees efJeeere efJeJejCeeW kes DebieYetle nQ
SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS
Devegmeteer
SCHEDULE
1 - eerefceece
1 PREMIUM :
efJeJejCe
Particulars
(Hees ueeKeeW ceW)
(Rupees in lacs)
iewj-mebye JeJemeee
mebye JeJemeee
kegue (eeuet Je<e&)
kegue (efHeues Je<e&)
Non-linked Business
Linked Business
menYeeieer
iewj-menYeeieer
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
Participating
Non-Participating
Non-Participating
Participating
Non-Participating
Participating
Non-Participating
1277679.88
32832.00
62291.29
1277679.88
95123.29
1106339.01
59484.93
5809096.19
393567.43
24971.43
5809096.19
418538.86
5081866.72
365555.90
194879.68
332566.00
951338.46
194879.68
1283904.46
136810.60
762671.82
7281655.75
758965.43
1038601.18
7281655.75
1797566.61
6325016.33
1187712.65
7268443.32
758911.85
1038582.49
7268443.32
1797494.34
6312281.89
1187611.69
13212.43
53.58
18.69
13212.43
72.27
12734.44
100.96
7281655.75
758965.43
1038601.18
7281655.75
1797566.61
6325016.33
1187712.65

1 First year Premiums
HejJeleea eerefceece
2 Renewal Premiums
Skeue eerefceece SJeb mJeerke=le

Jeeef<e&efkeeeW kes efueS eefleHeue
3 Single Premiums & CAG
kegue eerefceece
TOTAL PREMIUM
eerefceece Deee efueefKele

JeJemeee mes
PREMIUM INCOME FROM
BUSINESS WRITTEN:
Yeejle ceW
In India
Yeejle kes yeenj

Outside India
kegue eerefceece
TOTAL PREMIUM
70
49th Annual Report

Devegmeteer
SCHEDULE
2 - keceerMeve Jee
2 COMMISSION EXPENSES :
efJeJejCe
Particulars
(Hees ueeKeeW ceW)
(Rupees in lacs)
iewj-mebye JeJemeee
mebye JeJemeee
kegue (eeuet Je<e&)
Non-linked Business
Linked Business
menYeeieer
iewj-menYeeieer
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
Participating
Non-Participating
Non-Participating
Participating
Non-Participating
Participating
Non-Participating
339568.88
2558.08
4668.90
339568.88
7226.98
303701.20
3769.16
344586.83
2102.82
295.57
344586.83
2398.39
307110.31
2102.36
981.85
562.97
14663.70
981.85
15226.67
1742.35
6561.87
18.79
0.00
10.70
18.79
10.70
(13.70)
0.12
13.27
(1.36)
0.00
13.27
(1.36)
0.82
(20.73)
521.61
17.45
0.00
521.61
17.45
427.32
9.75
684648.01
5205.06
19638.87
684648.01
24843.93
612113.66
12403.03
683485.53
5199.12
19638.87
683485.53
24837.99
610955.65
12390.52
1162.48
5.94
0.00
1162.48
5.94
1158.01
12.51
684648.01
5205.06
19638.87
684648.01
24843.93
612113.66
12403.03
eoe keceerMeve
1 Commission paid
meerOee eLece Je<eeae eerefceece

Direct First year premiums
Renewal premiums
Skeue eerefceece
Single premiums
Deve keceerMeve
Other Commission
pees[s mJeerke=le Hegve&yeercee Hej
keceerMeve
Add : Commission on
Re-insurance Accepted
IeeFS Debleefjle Hegve&yeercee Hej

keceerMeve
Less: Commission on
Re-insurance Ceded
Meg keceerMeve
NET COMMISSION
efueefKele JeJemeee Hej keceerMeve

COMMISSION ON BUSINESS
WRITTEN:
Yeejle ceW
In India
Yeejle kes yeenj

Outside India
Meg keceerMeve
NET COMMISSION
JeJemeee eehle kejves kes efueS efkees iees mekeue Jee kee efJeIeve:
Break up of the expenses (Gross) incurred to procure business :
Speb
Agents
684188.86
4466.78
19638.87
684188.86
24105.65
612048.37
12402.92
92.06
671.73
0.00
92.06
671.73
0.00
0.00
278.62
65.99
0.00
278.62
65.99
65.29
0.11
0.00
0.00
0.00
0.00
0.00
0.00
0.00
88.47
0.56
0.00
88.47
0.56
0.00
0.00
684648.01
5205.06
19638.87
684648.01
24843.93
612113.66
12403.03
yeeskej
Brokers
efveieefcele Speb
Corporate Agency
efjhejue
Referral
Deve; yeQke
Others; Banks
kegue (Ke)
TOTAL (B)
71

Devegmeteer
SCHEDULE
3 -yeercee JeJemeee mes mecyeefvOele Heefjeeueve Jee
3 OPERATING EXPENSES RELATED TO INSURANCE BUSINESS:
efJeJejCe
Particulars
(Hees ueeKeeW ceW)
(Rupees in lacs)
iewj-mebye JeJemeee
mebye JeJemeee
kegue (eeuet Je<e&)
Non-linked Business
Linked Business
menYeeieer
iewj-menYeeieer
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
Participating
Non-Participating
Non-Participating
Participating
Non-Participating
Participating
Non-Participating
290918.70
9546.25
59431.34
290918.70
68977.59
297184.70
48055.43
9924.62
406.31
2009.95
9924.62
2416.26
8182.58
1114.71
735.53
26.98
149.20
735.53
176.18
725.05
103.37
10746.59
398.95
2166.12
10746.59
2565.07
10093.58
1286.33
2993.51
81.98
609.44
2993.51
691.42
3402.13
414.91
6106.09
143.28
1239.78
6106.09
1383.06
6123.63
729.71
17470.98
686.24
3551.48
17470.98
4237.72
18909.61
2554.25
458.06
11.24
65.23
458.06
76.47
546.17
33.17
5179.58
78.93
1054.59
5179.58
1133.52
5275.25
585.36
192.72
5.68
0.10
192.72
5.78
137.32
3.09
15.81
0.07
0.00
15.81
0.07
5.11
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
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
10770.36
647.74
2143.13
10770.36
2790.87
8093.04
1351.84
6416.79
382.32
1299.34
6416.79
1681.66
6475.37
972.17
kece&eeefjeeW kee Heeefjeefceke leLee

keueeCe ueeYe
1
Employees remuneration &

welfare benefits
ee$ee, meJeejer SJeb Jeenve eeueve Jee

2
Travel, conveyance and vehicle

running expenses
eefMe#eCe Jee
3
Training Expenses
efkejeee, ojW SJeb kej

4
Rents, rates & taxes
cejccele
5
Repairs
cegCe SJeb uesKee meeceieer

6
Printing & Stationery
Communication expenses
Legal & professional charges
Medical Fees
mebeej Jee
efJeefOeke SJeb JeeJemeeefeke eYeej
efeefkelmee Meguke
uesKee Hejer#eke Meguke, Jee Deeefo
10
Auditors fees, expenses etc.
(ke) uesKee Hejer#eke kes He ceW

(a) as auditor
(Ke)meueenkeej kes He ceW ee efvecve

mebyebOe ceW efkemeer Yeer #ecelee ceW
(b) as adviser or in any other
capacity in respect of
kejeOeeve ceeceues
(i) Taxation matters
yeercee ceeceues
(ii) Insurance matters
eyevOeve mesJeeSb, leLee

(iii) Management services; and
(ie) efkemeer Yeer Deve #ecelee ceW

(c) in any other capacity
efJe%eeHeve SJeb eeej

11
Advertisement and publicity
yeepe SJeb yeQke eYeej

12
Interest & bank Charges
72
49th Annual Report

Demebye JeJemeee
efJeJejCe
Particulars
Non-linked Business
mebye JeJemeee
Linked Business
kegue (eeuet Je<e&)
menYeeieer
iewj-menYeeieer
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
Participating
Non-Participating
Non-Participating
Participating
Non-Participating
Participating
Non-Participating
81906.91
1258.45
16677.42
81906.91
17935.87
127069.30
5013.78
4316.50
66.66
860.46
4316.50
927.12
3783.21
409.40
4669.37
369.78
935.44
4669.37
1305.22
3614.69
585.18
296.89
5.58
60.55
296.89
66.13
782.52
90.78
7223.69
278.16
1472.63
7223.69
1750.79
7236.04
936.76
348.32
13.98
70.68
348.32
84.66
390.82
49.18
14733.57
453.14
3020.92
14733.57
3474.06
10045.63
984.48
(2.27)
2.27
0.00
(2.27)
2.27
(2.16)
2.16
13809.31
440.37
2802.27
13809.31
3242.64
13767.80
1700.96
489231.63
15304.36
99620.07
489231.63
114924.43
531841.39
66877.02
487184.86
15291.22
99619.73
487184.86
114910.95
529838.05
66864.77
2046.77
13.14
0.34
2046.77
13.48
2003.34
12.25
489231.63
15304.36
99620.07
489231.63
114924.43
531841.39
66877.02
Deve
13
Others
Yees Deewj keceerMeve (yeercee SpebeW

kes keceerMeve kes DeueeJee)
1 Allowances and commission
(other than commission to
insurance agents)
efveJesMe mebHeeerHej Jee

2 Expense on Invt. Property
Heeefuemeer m@cHe
3 Policy stamps
HeeJeleer m@cHe
4 Receipt stamps
efyepeueer eYeej
5 Electricity charges
ceeie&mle jeske[ leLee

Deve yeercee eerefceece
6 Cash in transit and other
insurance premia
efJeefJeOe Jee
7 Miscellaneous expenses
cegKe keeee&uee Jee

8 Head Office expenses
cetueeme
14
Depreciation
kegue
TOTAL
Heefjeeueve Jee
OPERATING EXPENSES
Yeejle ceW
In India
Yeejle kes yeenj

Outside India
kegue heefjeeueve Jee

TOTAL OPERATING EXPENSES
73

Devegmeteer
4 -Deoe efkeee ieee ueeYe (Meg)
SCHEDULE
4 BENEFITS PAID (NET):
(Hees ueeKeeW ceW)
(Rupees in lacs)
iewj-mebye JeJemeee
efJeJejCe
Particulars
Non-linked Business
mebye JeJemeee
Linked Business
kegue (eeuet Je<e&)
menYeeieer
iewj-menYeeieer
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
menYeeieer
iewj-menYeeieer
Participating
Non-Participating
Non-Participating
Participating
Non-Participating
Participating
Non-Participating
313240.57
57347.25
713.91
313240.57
58061.16
271277.43
52131.23
2372770.41
80062.47
0.00
2372770.41
80062.47
1949903.81
72655.35
69894.99
127147.32
0.00
69894.99
127147.32
65055.09
100092.63
238267.73
135248.55
0.00
238267.73
135248.55
215174.62
118184.57
107.45
47.14
0.00
107.45
47.14
172.58
89.68
796.23
35.55
0.00
796.23
35.55
0.52
0.40
1905.16
30.89
0.00
1905.16
30.89
154.52
3.49
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
1079.22
0.00
0.00
1079.22
0.00
1368.04
0.00
43.56
3.20
0.00
43.56
3.20
0.95
(67.71)
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
0.00
0.00
0.00
0.11
0.00
2992136.56
399860.59
713.91
2992136.56
400574.50
2500962.55
343082.66
2981881.48
399325.04
713.91
2981881.48
400038.95
2490474.89
343066.89
10255.08
535.55
0.00
10255.08
535.55
10487.66
15.77
2992136.56
399860.59
713.91
2992136.56
400574.50
2500962.55
343082.66
yeercee oeJeW
1
Insurance Claims
(ke) ce=leg oeJeW

(a) Claims by Death
(Ke)HeefjHekeJelee oeJeW
(b) Claims by Maturity
(ie) Jeeef<e&efkeeeB/HesvMeve
Yegieleeve
(c) Annuities/Pensions in
payment
(Ie) Deve ueeYe

(d) Other benefits
DeYeHe&Ce
(i) Surrenders
vekeo yeesveme
(ii) Bonuses in cash
Deve oeJee ueeiele

(iii) Other Claims Cost
(Hegve&yeercee ceW Debleefjle jeefMe)

2
(Amount ceded in reinsurance):
(ke) ce=leg oeJeW

(a) Claims by Death
(Ke)HeefjHekeJelee oeJeW
(ie) Jeeef<e&efkeeeB/HesvMeve Yegieleeve

(c) Annuities/Pensions in payment
(Ie) Deve ueeYe

(d) Other benefits
Hegve&yeercee ceW mJeerke=le jeefMe

3
Amount accepted in reinsurance:
(ke) ce=let oeJeW

(a) Claims by Death
(ye) HeefjHekeJelee oeJeW

(ie) Jeeef<e&efkeeeB / HesvMeve Yegieleeve

(c) Annuities/Pensions in payment
(Ie) Deve ueeYe

(d) Other benefits
kegue
TOTAL
oeJesoejeW kees Deoe efkeee

ieee ueeYe
BENEFITS PAID TO
CLAIMANTS:
Yeejle ceW
In India
Yeejle kes yeenj

Outside India
kegue Deoe efkeee ieee ueeYe (Meg)

TOTAL BENEFITS PAID (NET)
74
49th Annual Report

Devegmeteer
5 -Mesej HetBpeer
SCHEDULE
5 SHARE CAPITAL
efJeJejCe
Particulars
(Hees ueeKeeW ceW)

(Rupees in lacs)
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
500.00
0.00
500.00
500.00
500.00
0.00
500.00
500.00
500.00
0.00
500.00
500.00
0.00
0.00
0.00
0.00
500.00
0.00
500.00
500.00
DeefYeoe HetBpeer
(peerJeve yeercee efveiece DeefOeefveece 1956 kes KeC[ 5 kes lenle kesvere
mejkeej eje eoe)
Subscribed Capital
(Provided by the Central Government in terms of
Section 5 of the Life Insurance Corporation Act,1956)
kegue
TOTAL
Mesej hetBpeer
SHARE CAPITAL
Yeejle ceW
In India
Yeejle kes yeenj

Out of India
kegue
TOTAL
75

Devegmeteer
- Deejef#ele efveefOe SJeb DeefOees<e (MesejOeejkeeW kes)
SCHEDULE
RESERVES AND SURPLUS (SHAREHOLDERS)
efJeJejCe
Particulars
(Hees ueeKeeW ceW)

(Rupees in lacs)
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
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
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
13218.89
0.00
13218.89
12042.55
3980.96
0.00
3980.96
1176.34
0.00
0.00
0.00
0.00
17199.85
0.00
17199.85
13218.89
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
0.00
0.00
0.00
0.00
17199.85
0.00
17199.85
13218.89
17095.59
0.00
17095.59
13000.67
104.26
0.00
104.26
218.22
17199.85
0.00
17199.85
13218.89
HetBpeer Deejef#ele efveefOe

1
Capital Reserve
Capital Redemption Reserve
HetBpeer ceeseve Deejef#ele efveefOe

Mesej Heerefceece
3
Share Premium
Hegve&cetueebkeve Deejef#ele efveefOe

4
Revaluation Reserve
HeejbefYeke Mes<e
Opening Balance
Je<e& kes oewjeve eesie

Additions during the year
Je<e& kes oewjeve keewefleeeB

Deductions during the year
Fefle Mes<e
Closing Balance
meeceeve Deejef#ele efveefOe

5
General Reserves
HeejbefYeke Mes<e
Opening Balance


Fefle Mes<e
Closing Balance
IeeFS : ueeYe-neefve uesKessb cebs veecebs DeefOeMes<e, eefo keesF& nes

Less : Debit balance in Profit and Loss Account, if any
IeeFS : Hegve&Kejero kes efueS Heegkele jeefMe

Less : Amount utilized for Buy-back
DeeHeelekeeueerve Deejef#ele efveefOe

6
Catastrophe Reserve
Deve Deejef#ele efveefOe

7
Other Reserves
ueeYe - neefve uesKeW cesW Mes<e ueeYe

8
Balance of profit in Profit and Loss Account
kegue
TOTAL
Deejef#ele efveefOe SJeb DeefOeMes<e (MesejOeejkeeW kes)

RESERVES AND SURPLUS (SHAREHOLDERS)
Yeejle cesW
In India
Yeejle kes yeenj

Outside India
kegue
TOTAL
76
49th Annual Report

Devegmeteer
SCHEDULE
6ke - yeercee Deejef#ele efveefOe (HeeefuemeerOeejkeeW kes)
6A INSURANCE RESERVES (POLICYHOLDERS)
efJeJejCe
Particulars
(Hees ueeKeeW ceW)
(Rupees in lacs)
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
Capital Reserve
HetBpeer Deejef#ele efveefOe
0.00
0.00
0.00
0.00
HetBpeer ceeseve Deejef#ele efveefOe
0.00
0.00
0.00
0.00
Mesej Heerefceece
Share Premium
0.00
0.00
0.00
0.00
Hegvecet&ueebkeve Deejef#ele efveefOe

276250.64
0.00
276250.64
239273.91
(139.20)
0.00
(139.20)
36976.73
0.00
0.00
0.00
0.00
276111.44
0.00
276111.44
276250.64
Opening Balance
41.74
0.00
41.74
41.74
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Revaluation Reserve
HeejbefYeke Mes<e
Opening Balance
Fefle Mes<e
Closing Balance
5
meeceeve Deejef#ele efveefOe
General Reserves
HeejbefYeke Mes<e
Fefle Mes<e
Closing Balance
41.74
0.00
41.74
41.74
IeeFS : ueeYe-neefve uesKessb cebs veecebs DeefOeMes<e, eefo keesF& nes

Less : Debit balance in Profit and Loss Account, if any
0.00
0.00
0.00
0.00
IeeFS : Hegve&Kejero kes efueS Heegkele jeefMe
0.00
0.00
0.00
0.00
HeejbefYeke Mes<e
Opening Balance
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Deble Mes<e
Closing Balance
0.00
0.00
0.00
0.00
DeeHeelekeeueerve Deejef#ele efveefOe
0.00
0.00
0.00
0.00
17052.77
0.00
17052.77
17052.77
(8877.78)
0.00
(8877.78)
(10720.67)
0.00
0.00
0.00
0.00
284328.17
0.00
284328.17
282624.48
291182.52
0.00
291182.52
291250.44
(6854.35)
0.00
(6854.35)
(8625.96)
284328.17
0.00
284328.17
282624.48
Less : Amount utilized for Buy-back

6
mecekejCe Deejef#ele efveefOe
Equalisation Reserves
Catastrophe Reserve
Deve Deejef#ele efveefOe
Other Reserves
(i) efveJesMe Deejef#ele efveefOe
(i) Investment Reserve
(ii) efJeefvecee Gleej e{eJe Deejef#ele efveefOe
(ii) Exchange Fluctuation Reserve
ueeYe - neefve uesKeW cesW Mes<e ueeYe
Balance of profit in Profit and Loss Account
kegue
TOTAL
yeercee Deejef#ele efveefOe (heeefuemeerOeejkeeWkes)
INSURANCE RESERVES (POLICYHOLDERS)
Yeejle cesW
In India
Yeejle kes yeenj

Outside India
kegue
TOTAL
77

Devegmeteer
- GOeejer
SCHEDULE
BORROWINGS
efJeJejCe
Particulars
(Hees ueeKeesW cesW)

(Rupees in lacs)
Demebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
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
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
$eCe-He$e / yevOeHe$e
1
Debentures/Bonds
yewQke
2
Banks
efJelleere mebmLeeve
3
Financial Institutions
Deve
4
Others
kegue
TOTAL
GOeejer
BORROWINGS
Yeejle ceW
In India
Yeejle kes yeenj

Outside India
kegue
TOTAL
78
49th Annual Report

Devegmeteer
SCHEDULE
- efveJese (esejOeejkeeW kes)
INVESTMENTS (SHAREHOLDERS)
efJeJejCe
(Rupees in lacs)
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
6554.93
0.00
6554.93
7834.93
0.00
0.00
0.00
0.00
2451.41
0.00
2451.41
2523.53
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
252.53
0.00
252.53
252.53
7381.56
0.00
7381.56
1452.28
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
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
0.00
0.00
0.00
0.00
Particulars
oerIee&JeefOe efveJesMe
LONG TERM INVESTMENTS
Kepeeves keer efyeueesW meefnle mejkeejer HeefleYetefleeeB leLee ieejbefle yevOe-He$e

1
Government securities and Government guaranteed bonds

including Treasury Bills
Deve Devegceesefole HeefleYetefleeeB

2
Other Approved Securities
Deve efveJesMe
3
Other Investments
(ke) Mesej
(a) Shares
(keke) FefkeJeer
(aa)
Equity
(KeKe) DeefOeceeveer
(bb)
Preference
(Ke) meneesie efveefOe

(b) Mutual Funds
(ie) JeglHevve HeHe$e

(c) Derivative Instruments
(Ie) $eCe-He$e / yebOe-He$e

(d) Debentures/Bonds
(*) Deve HeefleYetefleeeB

(e) Other Securities
(e) meneeke/menYeeieer/mebegkele Gece

(f)
Subsidiaries/Associates/Joint Ventures
() efveJesMe mebHeeflleeeB - mebHeoe

(g) Investment Properties - Real Estate
yegefveeeoer megefJeOeeDeeW leLee meeceeefpeke #es$e cesb efveJesMe

4
Investments in Infrastructure and Social Sector
Devegceesefole efveJesMeesW kes Deefleefjkele Deve efveJesMe

5
Other than Approved Investments
DeuHeeJeefOe efveJesMe
SHORT TERM INVESTMENTS
Kepeeveskeer efyeueesWmeefnle mejkeejer HeefleYetefleeeB leLee mejkeejer ieejbefle yevOe He$e

1


Deve efveJesMe
3
Other Investments
(ke) Mesej
(a) Shares
(keke) FefkeJeer
(aa)
Equity
(KeKe)DeefOeceeveer
(bb)
Preference

(b) Mutual Funds

79

efJeJejCe
Particulars
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
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
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
16640.43
0.00
16640.43
12063.27
6807.45
0.00
6807.45
8087.45
9832.98
0.00
9832.98
3975.82
16640.43
0.00
16640.43
12063.27
(Ie) $eCe-He$e / yevOe-He$e


(e) meneeke
(f)
Subsidiaries
() efveJesMe mebHeefeeeB -mebHeoe

(g) Investment properties - Real Estate

4

5
kegue
TOTAL
efveJesMe (MesejOeejkeeW kes)

INVESTMENTS (SHAREHOLDERS')
Yeejle cesW
In India
Yeejle kes yeenj

Outside India
kegue
TOTAL
(Hees ueeKeeW ceW)

efHHeCeer : efveJesMe :
peer. yeer. efve (vesHeeue) efueefces[
kesve Fbef[ee DeMegjvme kebHeveer
peer. yeer. efve (uebkee) efueefces[
peer. yeer. efve (ceeefjMeme) Dee@HeMeesDej efueefces[
peer. yeer. efve. (Deblejjeeqê) F& meer yenjsve
NOTE : Investments in :
LIC (Nepal) Ltd.
Kennindia Assurance Co.
LIC (Lanka) Ltd.
LIC (Mauritius) Offshore Ltd
LIC (International) EC, Baharian
(Rupees in lacs)
861.59
44.19
369.48
177.02
5929.27
80
49th Annual Report

Devegmeteer
8ke - efveJese (HeeefuemeerOeejkeeW kes)
SCHEDULE
8A INVESTMENTS (POLICYHOLDERS)
efJeJejCe
Particulars
(Rupees in lacs)
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
28884439.54
0.00
28884439.54
24490949.94
208161.94
0.00
208161.94
226077.42
9010537.15
0.00
9010537.15
5153769.22
0.01
0.00
0.01
0.73
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1514190.60
0.00
1514190.60
1300998.87
0.00
0.00
0.00
0.00
15540.00
0.00
15540.00
15540.00
29322.84
0.00
29322.84
27425.17
30998.75
0.00
30998.75
75.00
69651.84
0.00
69651.84
75389.88
284477.03
0.00
284477.03
284460.03
25393767.13
0.00
25393767.13
1253126.26
2370876.49
0.00
2370876.49
2330000.99
(115978.07)
0.00
(115978.07)
(109783.08)
83779.31
0.00
83779.31
261806.16
17579.04
0.00
17579.04
19099.81
Kepeeves keer efyeueesW meefnle mejkeejer HeefleYetefleeeB leLee mejkeejer ieejbefle yevOe-He$e
1


2
3
(ke) Mesej
(a) Shares
(keke) FefkeJeer
(aa)
Equity
(KeKe)DeefOeceeveer
(bb)
Preference

(b) Mutual Funds

(c)
Derivative Instruments


Yeejle mejkeej kes meeLe efJeMes<e pecee

Special Deposit with Government of India
meeceeefpeke megj#ee efveefOe kes meeLe pecee

Deposits with Social Security Fund
Deve HeefleYetefleeeB leLee yevOe-He$e

Other Securities & Bonds
et.er.DeeF&.II kes HetBpeer ceW eejbefYeke DebMeoeve
Initial Contribution to UTI II Capital
(e) meneeke/menYeeieer/mebegkele Gece

(f)
Subsidiaries/Associates/Joint Ventures


4

5
mebefoiOe efveJesMeeW kes efueS HeeJeOeeve

Provision for Doubtful Investments
Kepeeves keer efyeueesWmeefnle mejkeejer HeefleYetefleeeB leLee mejkeejer ieejbefle yevOe He$e
1

81

efJeJejCe
Particulars
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
678.18
0.00
678.18
682.08
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
95977.64
0.00
95977.64
145859.37
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
45390.25
0.00
45390.25
10446.35
193733.48
0.00
193733.48
82633.33
0.00
0.00
0.00
0.00
45278642.15
0.00
45278642.15
35568557.53
45192783.05
0.00
45192783.05
35483075.61
85859.10
0.00
85859.10
85481.92
45278642.15
0.00
45278642.15
35568557.53
(ke) Mesej
3
(a) Shares
(keke) FefkeJeer
(aa)
Equity
(KeKe)DeefOeceeveer
(bb)
Preference

(b) Mutual Funds

(c)
(Ie) $eCe - He$e / yebOe - He$e


JeeJemeeefeke HesHej
Commercial Papers
Yeejle mejkeej kes meeLe efJeMes<e pecee

Special Deposit with Government of India
(e) meneeke
(f)
Subsidiaries

(g) Investments Properties-Real Estate

4

5
mebefoiOe leLee GHeceeveke HeefjmecHeeflleeeW kes efueS HeeJeOeeve

Provision for Doubtful and substandard assets
kegue
TOTAL
efveJesMe (heeefuemeerOeejkeeW kes)

INVESTMENTS (POLICYHOLDERS')
Yeejle cesW
In India
Yeejle kes yeenj

Outside India
kegue
TOTAL
(Hees ueeKeeW ceW)

efHHeCeer : efveJesMe :
peer. yeer. efve. meneesie efveefOe eyebOeve keb. efue.
peer. yeer. efve. ie=n efJee efue.
peer. yeer. efve. (Deblejjeêre) F&. meer. yenjsve
peer. yeer. efve. (uebkee) efue.
peer. yeer. efve. meneesie efveefOe veemeer keb. efue.
NOTE : Investments in :
Jeevan Bima Sahayog Asset Management Co. Ltd.
LIC Housing Finance Ltd
LIC (International) E.C. Bahrain
LIC (Lanka) Ltd.
LIC Mutual Fund Trustee Co. Ltd.
(Rupees in lacs)
495.00
62937.23
5577.97
441.15
200.49
82
49th Annual Report

Devegmeteer
8Ke - mebye oeefelJe jef#ele kejves kes efueS HeefjmecHeefeeeB
SCHEDULE
8B ASSETS HELD TO COVER LINKED LIABILITIES
efJeJejCe
Particulars
(Rupees in lacs)
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
0.00
417666.60
417666.60
130116.17
0.00
0.00
0.00
0.00
0.00
737001.45
737001.45
105102.02
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
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
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
0.00
0.00
0.00
0.00
Kepeeves keer efyeueesW meefnle mejkeejer HeefleYetefleeeB leLee mejkeejer ieejbefle yevOe-He$e
1


2
(ke) Mesej
3
(a) Shares
(keke) FefkeJeer
(aa) Equity
(KeKe) DeefOeceeveer
(bb)
Preference

(b) Mutual Funds

(c)


(e) meneeke / menYeeieer / mebegkele Gece

(f)
Subsidiaries / Associates / Joint Ventures


4
Kepeeves keer efyeueesWmeefnle mejkeejer HeefleYetefleeeB leLee mejkeejer ieejbefle yevOe-He$e


2
(a) Shares
(ke) Mesej
(keke) FefkeJeer
(aa)
Equity
(KeKe)DeefOeceeveer
(bb)
83
Preference

efJeJejCe
Particulars
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
0.00
60116.35
60116.35
8649.58
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
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
51508.89
51508.89
1016677.94
0.00
82500.00
82500.00
32000.00
0.00
10010.00
10010.00
0.00
0.00
36859.85
36859.85
77075.39
0.00
23791.60
23791.60
24482.42
0.00
(1.58)
(1.58)
0.01
0.00
23266.78
23266.78
407.48
0.00
12467.73
12467.73
5884.05
0.00
233.80
233.80
3.32
0.00
240637.07
240637.07
241530.61

(b)
Mutual Funds

(c)
(Ie) $eCe - He$e / yebOe - He$e

(d)
Debentures/Bonds
(*) Deve Heelf eYetelf eeeB

(e)
Other Securities
(e) meneeke
(f)
Subsidiaries

(g) Investments Properties- Real Estate

4

eeuet HeefjmecHeefeeeB
6
Current Assets
jeske[ SJeb yeQke ceW DeefleMes<e

Cash and Bank Balance
jeske[
Cash
yeQke ceW DeefleMes<e ()

Bank Balance (Deposits)
(a) Deposits
(keke) DeuHeeJeefOe
(aa)
Short term
(KeKe) Deve
(bb)
Others
eeuet Keelee
(b) Current Account
Deve
(c)
Others
Deefece
7
Advances
Deoe efkeee ieee Deefece kej SJeb m$eesle hej kej keewleer
Advance Tax paid and Tax Deducted at source
Deve Deefece
Other Advances
efveJesMeeWhej yekeeee / eesoYetle Deee

Income Outstanding/Accrued on Investment
Deve yekeeee efeefceece

Other Outstanding Premiums
kegue (ke)-eeuet HeefjmecHeefeeeB

Total (A)-Current Assets
84
49th Annual Report

efJeJejCe
Particulars
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
0.00
24876.43
24876.43
273.63
0.00
70.99
70.99
2.68
0.00
1670.07
1670.07
2382.94
0.00
2213.13
2213.13
2236.83
0.00
195047.58
195047.58
57992.77
0.00
15.13
15.13
0.00
0.00
223893.33
223893.33
62888.85
0.00
16743.74
16743.74
178641.76
0.00
1231528.14
1231528.14
422509.52
0.00
1231507.57
1231507.57
422509.52
0.00
20.57
20.57
0.00
0.00
1231528.14
1231528.14
422509.52
eeuet oeefelJe
8
Current Liabilities
Hetkej uesveoej
Sundry Creditors
yekeeee oeJeW
Claims Outstanding
yekeeee keceerMeve
Outstanding Commission
efeefceece leLee Deve pecee jeefMeeeB

Premium and Other Deposits
peerJeve eYeeie eeuet Keelee

Life Department Current Account
eeJeOeeve
9
Provisions
DeeJeMeke MeesOe#ecelee meercee kes efueS eeJeOeeve

Provision for Required Solvency Margin
kegue (Ke)-eeuet oeefelJe

TOTAL (B)-Current Liabilities
Meg eeuet HeefjmecHeefeeeB (ke-Ke)

Net Current Assets (A-B)
kegue
TOTAL
efveJesMe
INVESTMENTS
Yeejle cesW
In India
Yeejle kes yeenj

Outside India
kegue
TOTAL
85

Devegmeteer
SCHEDULE
- $eCe
LOANS
efJeJejCe
Particulars
(Rupees in lacs)
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
1497962.21
0.00
1497962.21
1410381.39
5121.82
0.00
5121.82
4331.96
0.00
0.00
0.00
0.00
1881934.67
0.00
1881934.67
1514206.30
1863331.75
0.00
1863331.75
1928363.31
516921.86
0.00
516921.86
578021.50
(252833.81)
0.00
(252833.81)
(236111.91)
5512437.96
0.00
5512437.96
5199192.55
545862.56
0.00
545862.56
524322.08
10000.00
0.00
10000.00
10000.00
0.00
0.00
0.00
0.00
1114926.69
0.00
1114926.69
986250.21
1881934.67
0.00
1881934.67
1514206.30
2212547.85
0.00
2212547.85
2400525.87
(252833.81)
0.00
(252833.81)
(236111.91)
5512437.96
0.00
5512437.96
5199192.55
HeefleYetefleJeej JeieerakejCe
1
SECURITY - WISE CLASSIFICATION
jef#ele
Secured
(ke) mebHeefe kes yebOeke jKeves Hej

(a) On mortgage of property
(keke) Yeejle cesW

(aa)
In India
(KeKe)Yeejle kes yeenj

(bb)
Outside India
(Ke) Mesejessb, yebOeHe$eesb, mejkeejer HeefleYetefleeeB Deeefo Hej

(b) On Shares, Bonds, Govt. Securities, etc.
(ie) HeeefueefmeeesW Hej $eCe

(c)
Loans against Policies
(Ie) Deve
(d) Others
Dejef#ele $eCe
Unsecured Loans
mebefoiOe $eCeesb kes efueS HeeJeOeeve

Provision for Doubtful Loans
kegue
TOTAL
GOeejkelee&Jeej JeieerakejCe
2
BORROWER - WISE CLASSIFICATION
(ke) kesbo leLee jepe mejkeejsb

(a) Central and State Governments
(Ke) yewQke leLee efJeeere mebmLeeve

(b) Banks and Financial Institutions
(ie) meneeke
(c)
Subsidiaries
(Ie) kebHeefveeeB
(d) Companies
(*) HeeefueefmeeesW Hej $eCe

(e) Loans against policies
(e) Deve
(f)
Others
DeMeesOe leLee mebefoiOe $eCeeW kes efueS HeeJeOeeve

Provision for bad and doubtful debts
kegue
TOTAL
86
49th Annual Report

efJeJejCe
Particulars
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
5475203.43
0.00
5475203.43
5173039.52
11777.75
0.00
11777.75
11416.75
25456.78
0.00
25456.78
14736.28
0.00
0.00
0.00
0.00
5512437.96
0.00
5512437.96
5199192.55
75255.93
0.00
75255.93
128485.11
707.02
0.00
707.02
640.24
5425404.28
0.00
5425404.28
5059290.68
11070.73
0.00
11070.73
10776.52
5512437.96
0.00
5512437.96
5199192.55
efve<HeeoveJeej Jeieea&kejCe
3
PERFORMANCE - WISE CLASSIFICATION
(ke) Jeieerake=le ceeveke $eCe

(a) Loans classified as standard
(keke) Yeejle cesW

(aa) In India
(KeKe)Yeejle kes yeenj

(bb) Outside India
(Ke) iewj ceeveke $eCeesWmes HeeJeOeeve IeeFS

(b) Non-standard loans less provisions
(keke) Yeejle cesW

(aa) In India
(KeKe) Yeejle kes yeenj

(bb) Outside India
kegue
TOTAL
HeefjHekeJeleeJeej JeieerakejCe
4
MATURITY - WISE CLASSIFICIATION
(ke) DeuHeeJeefOe
Yeejle cesW
(a) Short Term In India
Yeejle kes yeenj
Outside India
(Ke) oerIee&JeefOe
(b) Long Term
Yeejle cesW
In India
Yeejle kes yeenj

Outside India
kegue
TOTAL
87

Devegmeteer
10 - Deeue HeefjmebHeefeeeB
SCHEDULE
10
FIXED ASSETS
Demebye JeJemeee
ueeiele /kegue yueeke
Cost/Gross Block
efJeJejCe
Particulars
HeejbefYeke
pees[
keewefleeeB
Debeflece
Opening
Additions
Deductions
Closing
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
4333.11
57.65
428.60
3962.16
863.25
14.16
193.50
683.91
86939.52
10224.17
798.53
96365.16
23037.47
3533.45
1427.96
25142.96
67614.07
9285.56
8470.74
68428.89
14166.40
6350.04
4456.42
16060.02
5470.63
382.81
795.91
5057.53
866.16
142.56
43.83
964.89
755.89
53.61
137.05
672.45
19.27
19.08
0.93
37.42
111.38
9.81
17.39
103.80
3035.26
184.30
271.25
2948.31
1474.13
294.50
118.78
1649.85
6.37
3.27
3.96
5.68
4534.27
1117.93
382.89
5269.31
132.56
27.78
4.84
155.50
0.00
0.00
0.00
0.00
213359.74
31700.68
17552.58
227507.84
195320.47
31930.49
13891.22
213359.74
ieg[efJeue
Goodwill
Deele#e
Intangibles
Yetefce - HetCe& mebHeoe

Land-Freehold
He Yetefce
Land-Leasehold
YeJeve
Buildings
Heveeaej SJeb efHeefbime

Furniture & Fittings
metevee Heeeesefiekeer GHemkej

Information Technology Equipment
Jeenve
Vehicles
keeee&uee GHemkej
Office Equipment
Deve
Others
sefueHeesve
Telephones
He@keme /FHeeyeskeme
Fax/Epabx
ceesyeeF&ue Heesve
Mobile Phones
Hegmlekeeuee keer Hegmlekes

Library books
efJeefJeOe HetBpeer GHemkej

Miscellaneous Capital Equipment
keeeJe leLee Deve mecyeefvOele Heeej GHemkej

Audio visual and other allied
publicity equipment
FbefpeveereeEjie efJeYeeie GHemkej

Engineering Dept. equipment
Jnesuespe mefyeueeePej leLee et.Heer.Sme.

Voltage stabilizers and UPS
efkejeS Hej YeJeveeWHej pevejsj, [er.peer.mesmed

Generators, DG sets in rented
premises
YeJeveeWkee DeeOegefvekeerkejCe
Modernisation of Premises
kegue
TOTAL
efHeues meeue kee kegue

Previous Year Total
88
49th Annual Report

(Rupees in lacs)
Non-linked Business
89
cetueNneme
Meg yueeke
Depreciation
Net Block
eeuet Je<e&
efHeues Je<e&
efHeues Je<e& leke
Je<e& kes efueS
efyekeer/
meceeeespeve Hej
leejerKe leke
Je<e& kes
Deblecesb
mebye
JeJemeee
Upto Last year
For The year
on Sales/
Adjustment
To Date
As at
year end
Linked
Business
kegue
kegue
Total
Total
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
0.00
0.00
(14.47)
14.47
3947.69
0.00
3947.69
4333.11
5.11
2.30
0.32
7.09
676.82
0.00
676.82
858.14
14999.41
2043.78
244.11
1679.08
79566.08
0.00
79566.08
71940.11
9791.86
1132.42
378.99
10545.29
14597.67
0.00
14597.67
13245.61
48168.68
9461.14
5145.02
52484.80
15944.09
0.00
15944.09
19445.39
7150.42
2792.22
541.47
9401.17
6658.85
0.00
6658.85
7015.98
4015.24
491.09
662.38
3843.95
1213.58
0.00
1213.58
1455.39
507.37
20.64
(9.43)
537.44
427.45
0.00
427.45
322.64
425.53
49.82
19.69
455.66
216.79
0.00
216.79
366.33
14.95
3.98
(13.52)
32.45
4.97
0,00
4.97
4.32
98.28
13.59
24.00
87.87
15.93
0.00
15.93
13.10
1914.83
221.65
171.34
1965.14
983.17
0,00
983.17
1120.60
1050.30
163.46
71.24
1142.52
507.33
0.00
507.33
423.83
5.82
0.29
1.81
4.30
1.38
0.00
1.38
0.55
3239.23
754.35
158.44
3835.14
1434.17
0.00
1434.17
1295.04
129.91
7.66
0.56
137.01
18.49
0.00
18.49
2.65
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
91516.94
17158.39
7381.95
101293.38
126214.46
0.00
126214.46
121842.79
81423.42
15542.98
5449.45
91516.95
121842.79
0.00
121842.79

Devegmeteer
11 - jeske[ SJeb yeQke ceW es<e
SCHEDULE
11
CASH AND BANK BALANCES
efJeJejCe
(Rupees in lacs)
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
204384.61
0.00
204384.61
165134.24
216777.50
0.00
216777.50
40820.50
441786.40
0.00
441786.40
403221.90
12207.92
0.00
12207.92
(11371.75)
0.00
0.00
0.00
0.00
26326.16
0.00
26326.16
74708.49
13732.57
0.00
13732.57
3999.22
116035.76
0.00
116035.76
123643.06
1031250.92
0.00
1031250.92
800155.67
0.00
0.00
0.00
0.00
1025374.02
0.00
1025374.02
795660.29
5876.90
0.00
5876.90
4495.38
1031250.92
0.00
1031250.92
800155.67
Particulars
vekeo (eske, [êHe SJeb m@cHe meefnle)

1
Cash (including cheques, drafts and stamps)
yewQke pecee
2
Bank Balances
(ke) pecee Keelee

(a) Deposit Accounts
(keke) DeuHeeJeefOe (legueve He$e keer leejerKe mes

12 cenerveeW kes Yeerlej ose)
(aa)
Short-term (due within 12 months

of the date of Balance Sheet)
(KeKe)Deve
(bb)
Others
(Ke) eeuet Keelee

(b) Current Accounts
(ie) Deve
(c)
Others
ceebieves Hej Deewj DeuHe metevee Hej Oeve

3
Money at Call and Short Notice
(ke) yewQke cesW

(a) With Banks
(Ke) Deve mebmLeeveebs cesW

(b) With other Institutions
Deve - ceeie&mle Hees<ele Oeve

4
Others - Remittances in transit
kegue
TOTAL
iewj Devegmetefele yeQkeeW keer Mes<e GHejeskele 2 leLee 3 ceW meefcceefuele nw*
Balances with non-scheduled banks included in
2 and 3 above.*
jeske[ SJeb yebwke cesb DeefleMes<e

CASH & BANK BALANCES
Yeejle cesW
In India
Yeejle kes yeenj

Outside India
kegue
TOTAL
* mLeeveere efJeefOe kes Devegmeej efveebef$ele efJeosMeer MeeKeeDeeW kes yeQke Keeleesb kes DeueeJee
* Excluding bank accounts of foreign branches which are held as per local laws.
90
49th Annual Report

Devegmeteer
12 - Deefece SJeb Deve HeefjmecHeefeeeB
SCHEDULE
12
ADVANCES AND OTHER ASSETS
efJeJejCe
Particulars
(Rupees in lacs)
iewj-mebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1100.35
0.00
1100.35
198.55
7269.83
0.00
7269.83
8214.51
0.00
0.00
0.00
0.00
10838.71
0.00
10838.71
(1006.61)
49213.34
0.00
49213.34
49403.11
758.20
0.00
758.20
953.11
66436.57
0.00
66436.57
10446.23
24192.76
0.00
24192.76
13928.19
(2988.48)
0.00
(2988.48)
(869.44)
156821.28
0.00
156821.28
81267.65
1114892.08
0.00
1114892.08
1048956.57
(259626.10)
0.00
(259626.10)
(216842.14)
410228.15
0.00
410228.15
361093.01
63628.06
0.00
63628.06
56224.40
(15.48)
0.00
(15.48)
(16.47)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
96.22
0.00
96.22
88.40
Deefiece
ADVANCES
DeblejCe kebHeefvebeebsb cebs Deejef#ele pecee

1
Reserve deposits with ceding companies
DeblejCe kebHeefvebeebsb kees Deefiece

2
Advances to ceding companies
efveJesMeeW kes efueS DeeJesove Oeve

3
Application money for investments
Henues Yegieleeve / HetJe&oe Kee&

4
Prepayments/Prepaid Expenditure
DeeefOekeeefjeesW / efveosMekeesW kees Deefiece

5
Advances to Officers / Directors
Deoe efkeee ieee Deefiece kej SJeb m$eesle Hej kej keewleer
6
Advance tax paid and taxes deducted at source

(Net of provisions for tax Rs. 698822.54)
(Previous year Rs. 553501.78)
Deve
7
Others
(ke) kece&eeefjeeW kees Deefiece

(a)
Advances to employees
(Ke) DeveeW kees Deefiece

(b)
Advances to others
(ie) pecee
(c)
Deposits
(Ie) Deve Deefiece

(d)
Other advances
Hegkej osveoej, Deefiece leLee pecee kes efueS HeeJeOeeve

Provision for sundry debtors,
advances and deposits
kegue (ke)
TOTAL (A)
Deve HeefjmecHeeflleeeB
OTHER ASSETS
efveJesMeesbHej yekeeee / HeesoYetle Deee

1
Income outstanding/accrued on investments
mebefoiOe Jeepe leLee ueeYeebMe kee HeeJeOeeve

Provision for doubtful Interest & Dividends
yekeeee Heerefceece
2
Outstanding Premiums
SpebeW kes Mes<e

3
Agents Balances
SpebeW kes mebefoiOe Mes<e kes efueS HeeJeOeeve

Provision for agents doubtful balances
efJeosMeer SpebefmeeesW kes Mes<e

4
Foreign Agencies Balances
mebefoiOe efJeosMeer SpebefmeeeW kes Mes<e kes efueS HeeJeOeeve

Provision for Foreign agencies doubtful balances
yeercee JeJemeee kejvesJeeueer Deve FbefefeesW mes HeeHle nesves Jeeuee

5
91
Due from other entities carrying on

insurance business

efJeJejCe
Particulars
Demebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
317722.90
0.00
317722.90
267039.37
3433.33
0.00
3433.33
3515.57
10247.58
0.00
10247.58
11018.85
6697.78
0.00
6697.78
7360.10
1667304.52
0.00
1667304.52
1538437.66
1824125.80
0.00
1824125.80
1619705.31
1821832.70
0.00
1821832.70
1617645.44
2293.10
0.00
2293.10
2059.87
1824125.80
0.00
1824125.80
1619705.31
meneeke /efveeb$eke kebHeveermes HeeHle nesvesJeeuee

6
Due from subsidiaries/holding company
Reinsurance claims/balances receivable
Hegveyeeacee oeJesb / Mes<e HeeHe

Yeejleere efjpeJe& yewQke cesb pecee
(yeerrcee DeefOeefveece 1938 keerr KeC[
8
kes DevegmejCe cesW)
Deposit with Reserve Bank of India

(Pursuant to Section 7 of Insurance Act, 1938)
Deve
9
Others
ke) yekeeee / HeesoYetle $eCe Hej yeepe

a) Interest on loans outstanding/accrued
Ke) msMevejer kee meke, Deeefo neLe ceW

b) Stock of stationery, etc. on hand
ie) Deve HeefjmebHeeflleeeB

c) Other assets
Ie) Mesej efpevekee Deeyebve yekeeee nw

d) Shares pending allotment
kegue (Ke)
TOTAL (B)
kegue (ke Ke)

TOTAL (A + B)
Yeejle cesW
In India
Yeejle kes yeenj

Outside India
kegue
TOTAL
92
49th Annual Report

Devegmeteer
13 - eeuet oseleeSb
SCHEDULE
13
CURRENT LIABILITIES
efJeJejCe
Particulars
(Rupees in lacs)
Demebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
0.08
0.00
0.08
0.00
1966.71
0.00
1966.71
4619.15
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
4620.80
0.00
4620.80
14191.87
196360.34
0.00
196360.34
281433.20
0.00
0.00
0.00
0.00
49270.43
0.00
49270.43
39435.40
2828.20
0.00
2828.20
2943.12
0.00
0.00
0.00
0.00
69281.92
0.00
69281.92
8237.35
72395.38
0.00
72395.38
59264.34
75750.63
0.00
75750.63
58665.81
63854.00
0.00
63854.00
51824.0
276.68
0.00
276.68
320.83
(16235.67)
0.00
(16235.67)
26082.71
(195047.58)
0.00
(195047.58)
(57992.77)
325321.92
0.00
325321.92
489025.01
323524.65
0.00
323524.65
486584.05
1797.27
0.00
1797.27
2440.96
325321.92
0.00
325321.92
489025.01
Spebesb kes Mes<e

1
Agents Balances
Deve yeercee kebHeefveeeW kees ose jeefMe

2
Balances due to other insurance companies
mebefOe kebHeefveeesb mes Deefiece

3
Advances from Treaty Companies
Hegveyeeacee DeblejCe Hej Oeeefjle pecee

4
Deposits held on re-insurance ceded
Deefiece He ceW HeeHle Heerefceece

5
Premiums received in advance
Hegkej uesveoej
6
Sundry creditors
meneeke /efveeb$eke kebHeveer kees ose

7
Due to subsidiaries/holding company
yekeeee oeJeW
8
Claims Outstanding
ose Jeeef<e&efkeeeB
9
Annuities Due
DeefOekeeefjeesW / efveosMekeeW kees ose

10
Due to Officers/Directors
Deve
11
Others
ke)
kece&eejer YeefJe<e leLee HesvMeve efveefOe kes veeefmeeeW kees ose jeefMeeeB
a)
Amounts due to trustees of staff provident & pension fund
Ke) yekeeee keceerMeve

b)
Outstanding Commission
ie)
Heerefceece leLee Deve pecee jeefMeeeB
c)
Premium and other deposits
Ie)
DeJekeeMe vekeoerkejCe mes mebyeefOele Devegceeefvele oeefelJe
d)
Estimated liability in respect of leave encashment
*) HetBpeer ceeseve (efveOee&efjle Jeeef<e&keer meefnle) JeJemeee eeuet Keelee

e)
Capital Redemption (including annuity certain) business

current account
e)
Jeefj HesvMeve yeercee eespevee eeuet Keelee
f)
Varishtha Pension Bima Yojana current account
) mebye JeJemeee
g)
Linked Business Contra Account
kegue
TOTAL
eeuet oseleeSB
CURRENT LIABILITIES
Yeejle cesW
In India
Yeejle kes yeenj

Outside India
kegue
TOTAL
93

Devegmeteer
14 - HeeJeOeeve
SCHEDULE
14
PROVISIONS
efJeJejCe
Particulars
(Rupees in lacs)
Demebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
0.00
0.00
0.00
0.00
62177.05
0.00
62177.05
69660.16
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1494305.60
0.00
1494305.60
1494305.60
1556482.65
0.00
1556482.65
1563965.76
1556329.72
0.00
1556329.72
1563805.91
152.93
0.00
152.93
159.85
1556482.65
0.00
1556482.65
1563965.76
kejeOeeve kes efueS (IeeFS Yegieleeve SJeb m$eesle Hej kej keewleer)
1
For taxation (less payments and taxes deducted at source)
For proposed dividends (5% Valuation Surplus)
HemleeefJele ueeYeebMe kes efueS (5% cetueve DeefOeMes<e)

ueeYeebMe efJelejCe kej kes efueS
3
For dividend distribution tax
Bonus payable to the policyholders
HeeefuemeerOeejkeesW kees ose yeesveme

Deve
5
Others
MeesOe#ecelee meercee kes efueS Deej#eCe kee eeJeOeeve

Provision for reserve for solvency margin
kegue
TOTAL
heekeOeeve
PROVISIONS
Yeejle cesW
In India
Yeejle kes yeenj

Outside India
kegue
TOTAL
94
49th Annual Report

Devegmeteer
SCHEDULE
15 - efJeefJeOe Jee (pees yes Keeles ceW ve [eues ieS nebs ee meceeeesefpele ve efkeS ieS nesb)
15
MISCELLANEOUS EXPENDITURE (To the extent not written off or adjusted)
efJeJejCe
Particulars

(Rupees in lacs)
Demebye JeJemeee
mebye JeJemeee
kegue eeuet Je<e&
kegue efHeues Je<e&
Non-linked
Business
Linked
Business
Total Current
Year
Total Previous
Year
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
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Mesej /$eCe-He$e peejer kejves ceW Devegcele t

1
Discount Allowed on issue of

shares/debentures
Deve
2
Others
kegue
TOTAL
Yeejle cesW
In India
Yeejle kes yeenj

Outside India
kegue
TOTAL
95
Devegmeteer 15 (ke)
peerJeve leLee hetBpeer ceeseve efveOee&efjle Jeeef<e&keer JeJemeee mes mebyebefOele efJeeere efJeJejCeeW kee Yeeie efveefce&le kejves Jeeues GodIeeefle efJe<ee
(ke) uesKeeW keer efhheefCeeeB
1) Deekeefmceke oseleeSb (eyebOeve eje eLee eceeefCele)
ke)
Ke)
ie)
Ie)
*)
e)
)
DeebefMeke he mes DeeefYeoe efveJesMe

yekeeee yeerceebkeve eefleyeleeSb
efveiece kes efJe oeJeW pees $e+Ce kes he ceW DeefYemJeerke=le veneR efkeS ieS neW
efveiece eje ee efveiece keer Deesj mes oer ieF& ieejber
efJeJeeefole meebefJeefOeke ceebie/oseleeSb efpemekee GheyebOe ve efkeee ieee nes
hegveyeercee DeefveJeee&lee efpemekee GdyebOe ve efkeee ieee nes
Deve
eeuet Je<e&
efheues Je<e&
1339 ueeKe hees

keg veneR
keg veneR
173 ueeKe hees
keg veneR
keg veneR
4574 ueeKe hees
43 ueeKe hees
keg veneR
keg veneR
3806 ueeKe hees
keg veneR
keg veneR
5710 ueeKe hees
2) eeuet peerJeve heeefueefmeeeW kes mebyebOe ceW oseleeDeeW kes cegueebkeve kes efueS yeerceebkeve kee hetJee&vegceeve
efveiece kee peerJeve yeercee JeJemeee Demebye menYeeieer JeJemeee, Demebye iewj-menYeeieer JeJemeee SJeb mebye iewjmenYeeieer JeJemeee ceW yebe nw ~ FveceW mes keg heeefueefmeeeW ceW
DevegJe=efeeB peg[er ngF& nQ pewmes iebYeerj yeerceejer, Dehebielee ueeYe SJeb meeJeefOe yeercee meefnle ogIe&vee ueeYe ~
mebye iewj menYeeieer JeJemeee kes yeercee hueme eespevee ceW 3 efveefOeeeB Meeceerue nw eLee yewueWme[ Heb[, efjmke Heb[ leLee efmekeetDe[& Heb[ leLee Heetej hueme eespevee ceW 4 efveefOeeeB
Meeceerue nw eLee yee@C[ Heb[, Fvkece Heb[, efmekeetDe[& Heb[ leLee eesLe Heb[ leLee peerJeve hueme eespevee ceW 4 efveefOeeeB Meeefceue nw eLee yee@C[ Heb[, efmekeetDe&[ Heb[, yewueWme[ Heb[ leLee
eesLe Heb[ ~
31 ceee& 2006 kees menYeeieer SJeb iewj-menYeeieer oesveeW lejn keer eeuet heeefueefmeeeW kes yeerceebkeve keer oselee keer ieCevee mekeue eerefceece lejerkes mes keer peeleer nw ~ oseleeDeeW keer ieCevee
yeepe, ce=legoj, DemJemLelee oj SJeb cegemHeerefle hej DeeOeeefjle nesleer nw ~ menYeeieer heeefueefmeeeW kes ceeceues ceW YeeJeer yeesveme kees Yeer Oeeve ceW jKee ieee nw ~ oeefelJe efveOee&jCe ceW
kejeOeeve Yeee SJeb MesejOeejkeeW kees DeefOeMes<e kee Deeyebve Yeer Oeeve ceW jKee ieee nw ~ hegJee&vegceeveeW kee efveOee&jCe cegueebkeve efleefLe kees, eefleketue efJeeueve keer Deefleefjkele jeefMe
kes ceeefpe&ve jeefMe kee eeJeOeeve kej, YeeJeer DevegYeJeeW kes otjoMeea cetueebkeve kes he ceW efkeee peelee nw ~
cetueebkeve kes efueS eegkele yeepe ojW eespevee kes ekeej kes Devegmeej efYevve-efYevve nQ Deewj cetueeOeej heefjmebheefeeeW leLee oseleeDeeW kes mJehe SJeb DeJeefOe kes DeeOeej hej 6 Deewj
9 e.Je. kes yeere jKeer ieF& LeeR ~ eegkele ce=leg ojW ekeeefMele Yeejleere yeerceeke=le peerJeve ce=leg oj (1994-96) mebMeesefOele Debeflece meejCeer Deewj eefleketue efJeeueve kes efueS iegbpeeeMe
nsleg eleeefMele DevegYeJeeW leLee geW kees eefleefyebefyele kejves kes efueS meceeeesefpele SueDeeF&meer S (1996-98) ce=leg oj meejCeer hej DeeOeeefjle LeeR ~ eegkele DemJemLelee ojW iebYeerj
iCelee DeeOeej meejCeer (meeryeerDeeF&er 13, etkes) hej DeeOeeefjle LeeR efpemes DeeF&Deej[erS ves Yeejle ceW eeesie kes efueS Dehevee efueee nw ~ Fve ojeW ceW nceejs eeesie kes efueS eLeesefele
mebMeesOeve kej efueee ieee nw, efJeJeskeMeeruelee kes efueS iegbpeeeMe kes meeLe ~ Fmekee keejCe en nw efke Yeejleere DevegYeJe hej DeeOeeefjle keesF& ekeeefMele, meerDeeF& oj meejCeer GheueyOe
veneR nw ~
eegkele Kee& eerefceece kes eefleMele kes he ceW ee yeercee jeefMe kes eefleMele ee eefle heeefuemeer ee Fve oesveeW kee mebeespeve neslee nw ~ eegkele cegemHeerefle oj 3 jKeer ieeer nw leeefke
Jen yeepe ojeW leLee Jee mes mebmegiele nes ~
mebye JeJemeee mes mebyebefOele egefve oselee kee cetue, cetueve efleefLe kees heeefuemeerOeejkeeW kes KeeleeW ceW pecee etefveeW kes Meg heefjmecheefle cetue kes DeeOeej hej efvekeeuee ieee nw ~
iewj etefve oselee kee Devegceeve ueieeee ieee nw pees iewj-etefve efveefOe ceW YeeJeer keceer kees hetje kejves kes efueS Deueie jKeer ieF& Ske efJeJeske Meerue Deejef#ele efveefOe nw ~
mecemle peerJeve JeJemeee kes yeerceebefkeke cetueebkeve kes HeuemJehe yeveves Jeeuee DeefOeMes<e peerJeve yeercee efveiece DeefOeefveece, 1956 keer Oeeje 28 kes eeefJeOeeveeW kes Devegmeej Deeyebefle
efkeee ieee nw ~
3) Yeejle ceW SJeb Yeejle kes yeenj efveiece keer heefjmecheefeeeW hej Yeej (eyebOeve eje eLee eceeefCele)
legueve he$e keer leejerKe kees efveiece keer heefjmecheefeeeW hej keesF& Yeej veneR Lee ~
4) 31.3.2006 kees oer ieF& Jeeve yeOoleeSb SJeb $e+CeeW kes yekeeS efveJesMe SJeb Deeue heefjmecheefeeeB kegue 374084 ueeKe . (efheues Je<e& 611681 ueeKe .) Leer ~
5) heefjMeesOeve kes DeeOeej
(ke) $e+Ce eefleYetefleeeB
FkeeF& mebye JeJemeee, peneB meYeer $e+Ce eefleYetefleeeB yeer Jeer Jeer ee kes efoMee efveoxMeeW kes Devegmeej yeepeej cetue hej oMee&S ieS nQ, kes DeueeJee Deve, meYeer ekeej kes JeJemeee
mes mecyeefvOele mejkeejer eefleYetefleeeW meefnle meYeer $e+Ce eefleYetefleeeW kes ceeceueeW ceW, yeneR cetue Debefkele cetue mes DeefOeke nesves hej Gmes Oeeefjlee/heefjhekeJelee keer Mes<e DeJeefOe kes
efueS, DeefOecetue meceeblej DeeOeej hej heefjMeesefOele efkeee ieee nw ~
(Ke) efJeceese mebeeer DeefOeceeveer Mesej
meYeer JeieeX keer JeJemeee ceW peneB yeneR cetue Debefkele cetue mes DeefOeke nw, DeefOecetue, Oeeefjlee/heefjhekeJelee keer Mes<e DeJeefOe kes efueS meceeblej DeeOeej hej heefjMeesefOele efkeee
ieee nw ~
96
49th Annual Report

SCHEDULE 15 A:
(A)
DISCLOSURES FORMING PART OF THE FINANCIAL STATEMENTS OF LIFE AND CAPITAL

REDEMPTION AND ANNUITY CERTAIN BUSINESS
(A)
NOTES TO ACCOUNTS
1) Contingent liabilities
a.
b.
c.
d.
e.
f.
g.
Partly paid-up investments

Underwriting commitments outstanding
Claims against the Corporation not acknowledged as Debts
Guarantees given by or on behalf of the Corporation
Statutory demands/liabilities in dispute, not provided for
Reinsurance obligations to the extent not provided for
Others
Current Year
Rs. 1339 lacs
Nil
Nil
Nil
Rs. 173 lacs
Nil
Rs. 4574 lacs
Previous Year
Rs. 43 lacs
Nil
Nil
Nil
Rs. 3806 lacs
Nil
Rs. 5710 lacs
2) Actuarial Assumptions for valuation of liabilities for life policies in force:

The Corporations Life Insurance Business consists of policies under Non-Linked Participating Business, Non-Linked Non-Participating
Business and Linked Non-Participating Business. Some of these policies have riders attached to them such as Critical Illness, Term
Assurance and Accident Benefit, including Disability Benefit.
The Linked Non-Par Business consists of 3 funds namely, Balanced Fund, Risk Fund and Secured Fund for Bima Plus Plan , 4 funds
namely, Bond Fund, Income Fund, Balanced Fund and Growth Fund for Future Plus Plan and 4 funds namely, Bond Fund, Secured
Fund, Balanced Fund and Growth Fund for Jeevan Plus Plan
The Actuarial Valuation liability of both Participating and Non-Participating policies in our books as on March 31, 2006 is calculated
using the Gross Premium Method of valuation. The liabilities are calculated based on the assumptions for interest, mortality, morbidity,
expenses and inflation. In case of Participating policies, the future bonuses are also taken into account. An allowance for taxation and
allocation of surplus to shareholders is also made in the liability assessment. The assumptions were determined on a prudent assessment
of the future experiences at the date of valuation with allowances for margin for adverse deviation.
The interest rates used for valuation vary according to the type of plan and ranged from 6.00% to 9.00% p.a depending on the nature
and term of the underlying assets and liabilities. The mortality rates used were based on the published Indian Assured Lives Mortality
(1994-96) modified ultimate table and LIC a (1996-98) mortality table adjusted to reflect expected experiences and allowances for
margin for adverse deviation. Morbidity rates used were based on the Critical Illness Base table (CBIT 93, UK) which has been adopted
by IRDA for use in India. These rates have been suitably modified for our use with margins included for prudence. This is because there
are no published CI rate table based on Indian experience.
The expenses were used either as a percentage of premium or percentage of sum assured or per policy or a combination of these. The
inflation rates used were 3% so as to be consistent with interest rates and expenses.
The unit liability in respect of Linked Business is taken as the Net Asset Value of the units to the credit of policyholders as on the date
of valuation. The non-unit liability has been estimated, which is a prudent reserve set aside to meet future deficit in the non unit fund.
Surplus emerging as a result of actuarial valuation of all life business have been allocated in accordance with the provisions of Section
28 of the LIC Act of 1956
3) Encumbrances to assets of the Corporation in and outside India (As certified by the Management)
There were no encumbrances on the assets of the Corporation as at the balance sheet date.
4) Commitments made and outstanding for loans, investments and fixed assets as on 31.3.2006 aggregate to Rs. 374084 lacs (previous
year Rs. 611681 lacs).
5) Basis of amortisation of:
(a) Debt securities
In respect of all debt securities including Government Securities, where the book value is more than the face value, the premium
has been amortised on straight line basis over the balance period of holding/maturity in all classes of business except Unit Linked
Business where all the debt securities have been shown at market value in terms of the IRDA guidelines.
(b) Redeemable Cumulative Preference Shares:
Where the book value is more than the face value, the premium has been amortised on the straight line basis over the balance
period of holding/ maturity in all classes of business.
97

6) oeJes
legueve he$e keer leejerKe kees 6 cenerves mes DeefOeke kes meceeeesefpele SJeb Deoe ve efkeS ieS oeJeW (eyebOe eje eLee eceeefCele)
cegleg oeJes
heefjhekeJelee oeJes
mebKee
eeuet Je<e&
efheuesJe<e&
1369
1236
104115
77374
jeefMe (ueeKe . ces)

eeuet Je<e&
efheues Je<e&
634
403
10806
7858
7) yekeeee mebefJeoeDeeW kee cetue

Demebye JeJemeee kes mebyebOe ceW efveJesMeeW kes yeejs ceW mebefJeoeDeeW kee cetue
(ke) KejerefoeeB efpeveceW heefjoeve uebefyele nes
3390 ueeKe . (efheues Je<e& 5657 ueeKe .)
(Ke) efyeefeeeB efpeve ceW DeoeeeefjeeB Deefleose nes 11773 ueeKe . (efheues Je<e& 2569 ueeKe .)
heWMeve JeJemeee leLee hetB cees. (efve. Jee. meefnle) JeJemeee kes mebyebOe ceW efveJesMe mes mebyebefOele keesF& Yeer mebefJeoe yekeeee veneR Leer ~
mebye JeJemeee kes mebyebOe ceW efveJesMeeW kes yeejs ceW mebefJeoeDeeW kee cetue
(ke) KejerefoeeB efpeveceW heefjoeve uebefyele nes
2279 ueeKe . (efheues Je<e& keg veneR)
(Ke) efyeefeeeB efpeve ceW DeoeeeefjeeB Deefleose nes 756 ueeKe . (efheues Je<e& keg veneR)
8) heefjeeueve Jee-JeJemeee kes efJeefYevve eKeC[eW ceW Kee& kes Deeyebve kes DeeOeej
Demebye menYeeieer, Demebye iewj-menYeeieer, meeceeve Jeeef<e&efkeeeB, heWMeve, mecetn JeJemeee, FkeeF& mebye JeJemeee, hetB cees (efve. Jee. meefnle) JeJemeee SJeb Jeefj heWMeve yeercee
eespeveekes mebyebOe ceW heefjeeueve Kee& kes Deeyebve kee DeeOeej efvecve nw(ke) efpeve KeeeX kee meerOes helee ueieeee pee mekelee nw Gvekee Deeyebve JeemleefJeke DeeOeej hej efkeee peelee nw ~
(Ke) efpeve Deve KeeeX keer ele#e heneeve veneR nes mekeleer Gvekee Deeyebve meeceeve hetue mes efvecveefueefKele ceW mes efkemeer kes DeeOeej hej ee Fvekes mebeespeve kes DeeOeej hej efkeee
ieee nw:
i. hee@efuemeereeW keer mebKee
ii. kegue mebie=nerle eerefceece
iii. yeerefcele jeefMe
Deeyebve keer efJeefOe kee efveCe&e KeeeX kes mJehe (Sveyeer/veJeerkejCe, efveele/heefjJele&veMeerue Deeefo) kes DeeOeej hej efkeee peelee nw Deewj JeJemeee kees nj ueeFve hej Jee kes JeieeX
hej DeeOeeefjle heneeve eesie hewjeceerj ueeiet efkeS peeles nQ ~
efJeefYevve JeJemeee eKeC[eW kes yeere meeceeve Kee& kee Deeyebve leLee menYeeieer, iewj-menYeeieer SJeb Jeeef<e&keer heeefueefmeeeW kes yeere KeeeX kee Deeyebve efveegkele yeerceebkekeeW eje eLee
eceeefCele neslee nw ~
9) DeOe#e SJeb eyebOe efveosMekeeW kees eyebOekeere heeefjeefceke
Jesleve SJeb Yees

heWMeve ces efveiece kee DebMeoeve
heefjueefyOeeeW kee kejeesie cetue
eoe Gheoeve

eeuet Je<e&
efheues Je<e&
29.75
23.62
3.00
1.80
0.13
0.94
7.00
7.00
10) Gefele cetue DeeOeej hej cetueebefkele FefkeJeer MesejeW, meneesie efveefOe ceW efveJesMeeW keer Ssefleneefmeke ueeiele
eeuet Je<e&
efheues Je<e&
(ke) Demebye JeJemeee
peerJeve, Jeeef<e&keer SJeb mecetn eespeveeSb
3658107
3135731
MesejOeejkeeW kee Keelee
6035
106
meneesie efveefOe efveJesMe
134552
159131
(Ke) mebye JeJemeee
990242
94347
(ie) hetBpeer ceeseve leLee efveOee&efjle Jeeef<e&keer meefnle
11
11
98
49th Annual Report

6) Claims
The claims settled and remaining unpaid for a period of more than 6 months as on the balance sheet date: (As certified by the
Management).
Number
Amount (Rs. in lacs)
Current Year
Claims by death
1369
Claims by maturity
104115
Previous Year
1236
Current Year
634
77374
10806
Previous Year
403
7858
7) Value of contracts outstanding

Value of contracts in relation to investments in respect of Non- Linked business:
(a) Purchases where deliveries are pending
Rs. 3390 lacs (previous year Rs. 5657 lacs)
(b) Sales where payments are overdue
Rs.11773 lacs (previous year Rs. 2569 lacs)
There were no contracts outstanding in relation to investments in respect of Pension business and CRAC business.
Value of contracts in relation to investments in respect of Linked business:
(a) Purchases where deliveries are pending
Rs. 2279 lacs (Previous Year NIL)
(b) Sales where payments are overdue
Rs. 756 lacs (Previous Year NIL)
8) Operating Expenses: Basis of allocation of expenditure to various segments of business

Operating Expenses relating to insurance business are allocated to Non-Linked Participating, Non-Linked Non-Participating, General
Annuities, Pensions, Group Business, Unit Linked Business, CRAC and VPBY business on the basis of:
a.
Expenses which are directly identifiable are allocated on actual basis, and
b.
Other Expenses which are not directly identifiable are allocated out of the common pool on of the following basis or a combination
of these:
i.
ii.
iii.
Number of policies
Total premium collected
Sum assured
The method of allocation has been decided based on the nature of expenses (NB/renewal, fixed/variable etc.) and identifiable
parameters based on expense classes are applied to each line of business.
Allocation of common expenses between various business segments and allocation of expenses between Participating, NonParticipating and Annuity Policies are as certified by the Appointed Actuary.
9) Managerial Remuneration to Chairman & Managing Directors
Salaries & Allowances
Current Year
Previous Year
29.75
23.62
Corporations contribution to Pension
3.00
1.80
Taxable Value of Perquisites
0.13
0.94
Gratuity paid
7.00
7.00
10) Historical cost of investments in Equity Shares, Mutual Funds valued on fair value basis.
(a)
99
Current Year
Previous Year
Non Linked Business:

Life, Annuity and Group Schemes
Rs. 3658107 lacs
Rs. 3135731 lacs
Shareholders Account
Rs.
Rs.
6035 lacs
106 lacs
Mutual Fund Investments
Rs. 134552 lacs
Rs. 159131 lacs
(b)
Linked Business
Rs. 990242 lacs
Rs.
94347 lacs
(c)
Capital Redemption & Annuity Certain
Rs.
Rs.
11 lacs
11 lacs

11) efveJesMe mebheefe kes hegveceg&ueebkeve kee DeeOeej
efveJesMe mebheefe kes cetue kee nj leerve Je<e& ceW Ske yeej hegveceg&ueebkeve efkeee peelee nw ~ efheuee hegvecet&ueebkeve efJeeere Je<e& 2004-2005 kes oewjeve efkejeee hetBpeerkejCe efJeefOe kee
eeesie kejkes efkeee ieee Lee Deewj efyevee efkemeer YeJeve/mebjevee kes Keeueer peceerve kee cetue Jele&ceeve yee]peej cetue efJeefOe mes ueieeee ieee Lee ~
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ceW mebMeesOeve Deewj yeepe ojeW ceW heefjJele&ve nw ~
(Ke) Jeefj uesKee veerefleeeB
1) leweejer kee DeeOeej efJeeere efJeJejCe meeceeveleee mJeerkeee& uesKee efmeebleeW SJeb yeercee efJeefveeeceke SJeb efJekeeme eeefOekejCe (efJeeere efJeJejCe SJeb yeercee kebheefveeeW kes uesKee hejer#ekeeW keer efjhees& leweej
kejvee) efJeefveece 2002 kes Devegmeej leweej efkeee ieee nw ~
2) jepemJe ceevelee
(ke) peneB keneR ose nes eerefceece kees Deee kes he ceW ceevelee oer ieF& nw ~ Yeejleere peerJeve yeercee efveiece (kece&eejer) heWMeve eespevee kes mebyeOe ceW eerefceece keer eesodYetle DeeOeej
hej ieCevee keer ieF& nw ~
(Ke) peye leke DeveLee GefuueefKele ve nes Deee SJeb Jeekes ceoeW keer ieCevee meeceeveleee eesodYetle DeeOeej hej keer ieF& nw ~
(ie) meYeer $e+Ce eefleYetefleeeW kes mebyebOe ceW yeepe keer Deee, efpeveceW kepex, ef[yesvej leLee yee@v[ Deewj ie=n mebheefe kes eefle efiejJeer ke]pex Meeefceue nQ, Yeejleere efj]peJe& yeQke eje efJeeere
mebmLeeDeeW kees peejer efoMeeefveoxMeeW kes Devegmeej jepemJe Keeles ceW esef[ keer peeleer nw ~
(Ie) ceeOeefceke yeepeej mes mejkeej ee Deve Devegceesefole eefleYetefleeeW keer Kejero ee efyeeer kes mebyebOe ceW KeefC[le DeJeefOe kee yeepe vekeo DeeOeej hej efueee ieee nw ~
(*) yeepe, ueeYeebMe efkejeee Deeefo mekeue cetue DeeOeej hej efueee ieee nw (Deeekej keewleer kes hetJe&) ~
(e) mejkeej Deewj Deve Devegceesefole eefleYetefleeeW SJeb yebOeke $e+CeeW kes mebyebOe ces legueve he$e keer leejerKe kees eesodYetle yeepe keer ieCevee eefle Je<e& 360 efoveeW hej DeeOeeefjle keer ieF&
nw ~
() eefleYetefleeeW/FefkeJeefeeW keer efyeeer hej ueeYe ee neefve kesJeue efyeeer Je<e& ceW jepemJe ceW efueee ieee nw ~
(pe) meYeer ueeYeebMe peneB Gvekes eehle kejves kee DeeefOekeej 31 ceee& kees ee Gmekes henues nes Gmes Deee kes he ceW efueee ieee nw Yeues ner Jen yeeo ceW eehle ngS nes ~
(Pe) heeefuemeer $e+CeeW hej yeepe kee uesKeekejCe eesodYeJeve kes DeeOeej hej efkeee peelee nw ~
3) DeefOeenCe ueeieleW
DeefOeenCe ueeielees kees Kee& kes Je<e& ceW efoKeeee ieee nw ~
4) oeJeW
(ke) oeJeeW keer ueeieleeW ceW peneB keneR ueeiet nes heeefuemeer ueeYe jeefMe SJeb oeJee meceeeespeve ueeiele Meeefceue nw ~
(Ke) yekeeee ce=leg oeJeeW kes eeJeOeeve Gve heeefueefmeeeW kes efuees efkeS ieS nQ peneB 31 ceee& leke ce=leg keer metevee eehle ngF& nw ~
5) efveJesMe
(ke) eefleose Jejerelee MesejeW SJeb mejkeejer eefleYetefleeeW meefnle $e+Ce eefleYetefleeeWkees heefjhekeJeleekes efueS Oeeefjle kes he ceW ceevee ieee nw leLee cetue MeesOeve kes DeOeerve efvecveevegmeej
Ssefleneefmeke ueeiele hej GefuueefKele efkeS ieS nQ:
i. yeer.efJe.efJe. ee. kes efoMee efveoxMeeW kes Devegmeej FkeeF& mebye eespevee ceW peneB meYeer $e+Ce eefleYetefleeeB yeepeej cetue hej oMee&F& peeeeWieer kes DeueeJee meYeer JeieeX kes JeJemeee
ceW peneB mejkeejer eefleYetefleeeW kes JeneR cetue ele#e cetue mes DeefOeke nQ, eerefceece (DeblejjeefMe) kees Oeeefjlee/heefjhekeJelee keer Mes<e DeJeefOe ceW meceeblej DeeOeej hej heefjMeesefOele
efkeee peeSiee ~
ii. meYeer JeieeX kes JeJemeee ceW peneB efJeceese mebeeer DeefOeceeveer MesejeW kes yener cetue ele#e cetue mes DeefOeke nw eerefceece (DeblejjeefMe) kees Oeeefjlee/heefjhekeJelee keer Mes<e
DeJeefOe ceW meceeblej DeeOeej hej heefjMeesefOele efkeee peeSiee ~
(Ke) metefeye FefkeJeer eefleYetefleeeB pees meefee yeepeejeW ceW Jeeheej keer peeleer nw GvnW legueve he$e keer leejerKe kees mener cetue hej ceehee ieee nw leLee FefkeJeer eefleYetefleeeW kes eeuet
jeefMe ceW heefjJele&ve, mener cetue heefjJele&ve KeeleW ceW jKee ieee nQ ~
(ie) Demeteerye FefkeJeer eefleYetefleeeB SJeb meteerye FefkeJeer eefleYetefleeeB meefee yeepeejeW ceW efveeefcele he mes efpevekee Jeeheej veneR neslee GvnW Ssefleneefmeke ueeiele ceW mes Ssmes
efveJesMeeW ceW mes cetueNneme kes eeJeOeeve kees Ieekej ceehe keer peeleer nw ~
(Ie) ceeOeefceke yeepeej mes FefkeJeer MesejeW keer Kejero ee efyeeer kes DeueeJee meYeer efveJesMeeW keer ieCevee vekeoer DeeOeej hej keer ieF& nw ~
(*) efveJesMe mebheefeeeW kes cetue kee GuuesKe Jekele jeefMeeeW hej efkeee ieee nw ~ efveJesMe mebhheefe kes eeuet jeefMe ceW heefjJele&ve hegvecet&ueebkeve Deej#eCe ceW jKee ieee nw ~
(e) yeer.efJe.efJe. ee. kes efveoXMeeW kes Devegmeej meneesie efveefOe efveJesMeeW kees 31 ceee& kees Gefele cetueeWhej efvekeeuee ieee nw ~
100
49th Annual Report

11) Basis of revaluation of investment property
Valuation of Investment property is revalued once in every three years. Last revaluation was carried out during the F.Y. 2004-2005
using Rent Capitalisation method and land alone without any building/structure was valued by Current Market value method.
12) Contribution for Gratuity liability to employees for the year 2005-2006 works out to Rs.634.93 crores as against Rs.56.42 crores in the
previous year due to revision in salary structure and changes in interest rates.
(B) SIGNIFICANT ACCOUNTING POLICIES:

1.
Basis of Preparation:
The Financial Statements have been prepared in accordance with the generally accepted accounting principles and in accordance
with the provisions of the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditors Report
of Insurance Companies) Regulations 2002.
2.
3.
Revenue Recognition:
a)
Premiums are recognized as income when due. However, premium in respect of Life Insurance Corporation of India (Employees)
Pension Scheme is accounted for on accrual basis.
b)
Items of Income and Expenditure are generally accounted for on accrual basis unless otherwise stated.
c)
Interest income in respect of all debt securities including loans, debentures and bonds and mortgage loans against House
Property is taken credit to the Revenue Account as per the guidelines issued to Financial Institutions by Reserve Bank of India.
d)
In respect of purchase or sale of Government and other approved securities from secondary market, interest for the broken
period is accounted on cash basis.
e)
Interest, Dividend, Rent, etc. are accounted at gross value (before deduction of Income Tax)
f)
In respect of Government and other approved securities and mortgage loans, accrued interest as at the date of the balance sheet
is calculated based on 360 days a year.
g)
Profit or Loss on sale of Securities/Equities is taken to Revenue only in the year of sale.
h)
All dividends where right to receive the same have fallen due on or before 31st March are taken as income though received
subsequently.
i)
Interest on policy loans is accounted for on accrual basis.
Acquisition Costs:
Acquisition Costs are expensed in the period in which they are incurred.
4. Claims:
a) Claims costs consist of the policy benefit amount and claims settlement costs, wherever applicable.
b) Provision for outstanding death claims is made for those policies where the intimation of death has been received upto 31st
March.
5.
Investments:
a)
Debt Securities including Government Securities and Redeemable Preference Shares are considered as held to maturity and
the value is disclosed at historical cost subject to amortization as follows:
(i)
Debt Securities including Government Securities, where the book value is more than the face value, the premium will be
amortised on straight line basis over the balance period of holding/maturity in all classes of business except Unit Linked Plan
where all the debt securities will be shown at market value in terms of IRDA guidelines.
(ii) Redeemable Cumulative Preference Shares, where the book value is more than the face value, the premium will be amortised
on a straight line basis over the balance period of holding/maturity in all classes of business.
b) Listed equity securities that are traded in active markets are measured at fair value on the balance sheet date and the change in
the carrying amount of equity securities is taken to Fair Value Change Account.
101
c)
Unlisted equity securities and listed equity securities that are not regularly traded in active markets are measured at historical
cost less provision for diminution in value of such investments.
d)
All Investments are accounted on cash basis except for purchase or sale of equity shares from the secondary market.
e)
The value of Investment Properties is disclosed at the Revalued amounts and the change in the carrying amount of the investment
property is taken to Revaluation Reserve.
f)
Mutual fund investments are valued on fair value as at 31st March as per IRDA directive.

6) Deeue heefjmecheefleeeB
(ke) Deeue heefjmecheefleeeW kee cetue Gvekes ueeiele cetueeW ceW mes cetueNneme kees kece kej oMee&ee ieee nw ~
Ke) efvecee&CeeOeerve SJeb keypee keer ieF& mebheefeeeW hej Deoe keer ieF& jeefMe efpevekee euesKeve uebefyele nw GvnW YeJeve mebheefe SJeb Yetefce kes Debleie&le efoKeeee ieee nw ~
7) cetueNneme
eyebOeve eje eLee Devegceeefvele heefjmecheefleeeW kes Gheeesieer peerJeve hej DeeOeeefjle meceeblej lejerkes kee Fmlesceeue kejkes Deeue heefjmecheefeeeW hej cetueNneme yeleeee ieee nw ~ Je<e&
kes oewjeve Kejeroer ieF&/yeseer ieF& heefjmecheefeeeW kes efueS cetueNneme eLeevegheele eYeeefjle efkeee ieee nw ~
8) peerJeve heeefueefmeeeW keer oselee
efveiece kes peerJeve yeercee JeJemeee kes Jeeef<e&ke peeBe kes DevegmejCe ceW heeefuemeerOeejkeeW keer oseleeSb efveiece kes efveegkele yeerceebkekees eje efveOee&efjle keer peeleer nw ~
9) efJeosMeer cege mebJeJenej
(ke) mebyebefOele osMeeW kes meebefJeefOeke efJeefveeceveeW kes Devegmeej efJeosMeer JeJemeee mes mebyebefOele peerJeve efveefOe kee efveJesMe efkeee ieee nw ~
(Ke) Je<e& kes Deble ceW efJeosMeeW keer MeeKeeDeeW kee efJeeere efJeJejCe mLeeveere efJeefOeeeW kes Devegmeej leweej efkeee ieee nw leLee mecegefele ojeW hej heefjJele&ve efkeee ieee nw, efmeJeee megJee
(efHepeer) MeeKee efpemekes efueS eefle Je<e& 31 efomecyej kes efJeeere efJeJejCe mes mecegefele ojeW hej heefjJele&ve efkeee peelee nw keeeWefke MeeKee kee uesKee kewuesC[j Je<e& kes DeeOeej
hej leweej efkeee peelee nw ~
(ie) Gheeg&kele kes keejCe nesvesJeeueer efJeefvecee oj keer ieCevee meeceeveleee mJeerkeee& uesKee eueve kes Devegmeej keer ieF& nw ~
(Ie) Yeejle mes Yespes ieS es<eCeeW eje Yeejle kes yeenj efkeS ieS efveJesMeeWkeer ieCevee cetue heS keer ueeiele ee MeerIe DeefYeefueefKele heS keer ueeiele hej efkeee peelee nw, peneB cetue
ueeiele GheueyOe ve nes ~
10) Devegeeespe heefjmecheeefeeeW kes efueS heefjmecheefeeeW kee JeieeakejCe SJeb eeJeOeeve
(ke) $e+Ce, ef[yeWej, SJeb yeeb[, leLee YeJeve mebheefe kees efiejJeer jKekej efueS ieS $e+Ce keer heefjmecheefeeeW kees Jemetueer kes efjkee[& hej DeeOeeefjle efvecve lejn mes Jeieeake=le efkeee ieee
nw ~
i. ceeveke
ii. Gheceeveke
iii. mebefoiOe SJeb
iv. vegkemeeve heefjmecheefeeeB
Yeejleere efjpeJe& yeQke eje efJeeere mebmLeeveeW kees peejer efoMee efveoxMees kes Devegmeej ~
(Ke) Yeejleere efjpeJe& yeQke eje efJeeere mebmLeeveeW kees peejer efoMee efveoxMees kes Devegmeej Devegeeespe $e+CeeW, ef[yeWejeW SJeb yeeB[eW SJeb YeJeve mebheefe kees efiejJeer jKekej $e+Ce kes efueS
eeJeOeeve efkeee ieee nQ ~
11) mesJeeefveJe=efe ueeYe
(ke) efveiece eje peejer mecetn Gheoeve yeercee heeefuemeer kes ceeOece mes kece&eeefjeeW kees Gheoeve GheueyOe kejeee peelee nw ~ Fme lejn Gme mebyebOe ces oselee peerJeve efveefOe kee Yeeie
efveefce&le kejlee nw ~
(Ke) Gve kece&eeefjeeW kes mebyebOe ceW efpevneWves YeefJe<e efveefOe eespevee egveer nw, Gmeer lejn kee DebMeoeve YeefJe<e efveOeer veeme kees efkeee peelee nw ~
(ie) Gve kece&eejereeW kes mebyebOe ceW efpevneWves YeefJe<e efveefOe kes mLeeve hej heWMeve eespevee egveer nw Gvekes efueS Yeejle mejkeej eje DeefOemetefele heWMeve efveeceeW kes Devegmeej efveiece
kee DebMeoeve heWMeve efveefOe veeme ceW efoee peelee nw ~
(Ie) mesJeeefveJe=efe hej DeJekeeMe vekeoerkejCe ueeYe yeerceebkeve cetueebkeve hej DeeOeeefjle neslee nw ~
12) eeJeOeeve, mebYeeJe oseleeSb Deewj mebYeeJe heefjmebheefeeeB
peye en mebYeeJevee nes efke efkemeer oeefelJe kees efveheeves kes efueS Ssmes mebmeeOeveeW kee yeefnJee&n Dehesef#ele nesiee efpeveceW DeeefLe&ke ueeYe meceeefJele neW lees efJeMJemeveere Devegceeve kes DeeOeej
hej eeJeOeeve kej efoee peelee nw ~ mebYeeJe oseleeSb (hee@efueefmeeeW kees es[kej), eefo cenJehetCe& nes, efhheefCeeeW eje oMee&eer peeleer nQ ~ mebYeeJe heefjmebheefeeeW kees efJeeere
efJeJejCeeW ceW ceevelee veneR oer peeleer Deewj ve ner oMee&ee peelee nw ~
102
49th Annual Report

6.
7.
Fixed Assets:
a)
Values of the fixed assets are stated at cost less depreciation.
b)
Property under construction and amounts paid for the properties taken in possession, pending documentation, are accounted
under House Property and Land.
Depreciation:
Depreciation on fixed assets is provided using the straight line method, based on useful lives of assets as estimated by the management.
Depreciation is charged on pro-rata basis for assets purchased/sold during the year. Leasehold land & building is written off on a prorata basis.
8.
Liability for Life Policies:

The Policyholders liabilities are determined by the Corporations Appointed Actuary pursuant to his annual investigation of the
Corporations life insurance business.
9.
Foreign Currency Transactions:

a)
Life Fund relating to foreign business has been invested according to the statutory regulations of the respective countries.
b)
Financial Statements of branches in foreign countries as at the year end are prepared in accordance with local laws and are
translated at appropriate rates of exchange except for Suva (Fiji) branch, for which the conversion is done at appropriate rates,
from the financial statement as at 31st December, each year, since the accounts of the branch are prepared on calendar year
basis.
c)
The exchange difference arising on account of the above is accounted for as per generally accepted accounting practice.
d)
Investments made outside India by remittances sent from India are accounted for at original rupee cost or at the earliest recorded
rupee cost, where original cost is not available.
10. Asset Classification and Provisioning for Non-Performing Assets:

a)
Assets representing Loans, Debentures and Bonds and Mortgage Loans against House Property are classified based on record
of recovery as:
i)
Standard
ii)
Sub-standard
iii) Doubtful and

iv) Loss Assets
as per the guidelines issued to Financial Institutions by Reserve Bank of India.
b)
Provisioning for Non-Performing loans, debentures and bonds and Mortgage Loans against House Property is made as per the
guidelines issued to Financial Institutions by Reserve Bank of India.
11. Retirement Benefits:

a)
Gratuity to employees is provided for through a Group Gratuity Insurance Policy issued by the Corporation and as such, the
liability in respect thereof, forms part of the Life Fund.
b)
In respect of employees who have opted for Provident Fund Scheme, matching contribution is made to the Provident Fund Trust.
c)
In respect of employees who have opted for Pension Scheme, in lieu of Provident Fund Scheme, the Corporations contribution
is made to the Pension Fund Trust, in accordance with the Pension Rules notified by the Government of India.
d)
Leave Encashment Benefits on retirement are accounted for on the basis of Actuarial Valuation.
12. Provisions, Contingent Liabilities and Contingent Assets.

A Provision is made based on a reliable estimate when it is probable that an outflow of resources embodying economic benefits will
be required to settle an obligation. Contingent liabilities (other than policies), if material, are disclosed by way of notes. Contingent
assets are not recognized or disclosed in the financial statements.
103

(ie) Deefleefjkele efJe<ee GodIeeve
1) meebefJeefOeke Dehes#eeDeeW kes Devegmeej efkeee ieee efveJesMe (eyebOeve eje eLee eceeefCele)
MeeKee
et.kes.
ceejerMeme
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8 er. Deej. Sme. Jeee. meke
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eeuet Je<e&
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DemebyebOe JeJemeee
eeespe efveJesMe
Devegeeespe efveJesMe
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keg veneR
16
3) Yeejle ceW ee Yeejle kes yeenj mLeeveere efJeefOeeeW kes Debleie&le efveiece eje keesF& Yeer heefjmecheefe pecee keer peeveer Dehesef#ele veneR nw ~
4) #es$eJeej JeJemeee kee eefleMele (pewmee efke eyevOeve eje eceeefCele efkeee ieee nw)
heeefueefmeeeW keer mebKee
eeceerCe JeJemeee
Menjer JeJemeee
eeuet Je<e&
efheues Je<e&
23.65
76.35
22.89
77.11
5) yeer.efJe.efJe.ee. eje efveOee&efjle efJeeere efJeJejCeeW kes mebef#ehle efJeJejCe heefjefMe 1 leLee 2 meueive osKeW ~
6) heeefuemeerOeejkeeW kes Keeles SJeb MesejOeejkeeW kes Keeles kes yeere efveJesMeesb kes Deeyebve kee DeeOeej SJeb Gmehej Deee
MesejOeejkeeW kes leLee heeefuemeerOeejeskeeW kes efveJesMeeWhej eehle Deee mebyebefOele efveefOe ceW meefcceefuele efkeee ieee nw ~
eeeueve mes GheueyOe efveJesMe eesie DeefOeMes<e leLee hee@efuemeerOeejkeeW kes efveJesMeeW mes eehle Deee kees heeefuemeerOeejeW keer efveefOe ceW meefcceefuele efkeee ieee nw ~ Je<e& kes oewjeve
MesejOeejkeeW keer efveefOe keer Je=ef kees MesejOeejkeeW keer efveefOe ceW Meeefceue efkeee ieee nw ~
7) mebyebefOele he#ekeej kee GodIeeve
(efveiece eje eLeeefeefvnle mebyebefOele he#ekeej kee mebyebOe)
Yeejleere meveoer uesKeekeej mebmLeeve eje peejer mebyebefOele he#ekeej GodIeeve hej (ues. efve. 18) ceeveke uesKee kes Devegmeej efveiece kes mebyebefOele he#ekeej/mebegkele Gece efvecve
nw ke) mebegkele Gece
peer yeer efve (vesheeue) efueefces[
kesveFb[eree DeMeesjWMe keb.
peer yeer efve (Devlejjeêre) F& meer yenjsve
peer yeer efve (uebkee) efueefces[
peer yeer efve (ceeefjMeme) Dee@HeMee@j efueefces[
Ke) meneesieer kebheefveeeB
peer yeer efve ie=n efJee efueefces[
peer yeer efve meneesie Smes cewvespeceW keb. efueefces[
peer yeer efve meneesie efveefOe veemeer keb. ee. efue.
104
49th Annual Report

(C) ADDITIONAL DISCLOSURES:
1)
Investments made in accordance with the statutory requirements (as certified by the Management)
Branch
Type of Securities
Book Value (Rs.in lacs)

Current Year
Previous Year
UK
8% TRSY Stock
152
161
Mauritius
8.5/8% & 9.75% MDLS Stock
134
138
Fiji
8.58% FGR Stock
1655
1424
An amount of Rs. 10 crores has been deposited with Corporation Bank SGL account in accordance with Section 7 of the Insurance Act,
1938.
2)
Segregation into Performing/Non-performing investments for the purpose of Income recognition (as certified by the
Management):
(a)
(b)
Non Linked Business:

Performing investments:
Non-performing investments:
Current Year
Previous Year
Rs. 8883099
Rs. 326197
Rs. 7807925
Rs. 320275
NIL
NIL
CRAC Business:
Performing investments:
Non-performing investments:
3)
4)
Rs.
16
Rs.
16
No assets are required to be deposited under local laws by the Corporation in or outside India.
Percentage of business sector-wise (as certified by Management)
No. of policies
5)
6)
Current Year
Previous Year
Rural business
23.65%
22.89%
Urban business
76.35%
77.11%
Summary of Financial Statements as prescribed by IRDA Refer Annexure 1 & 2 attached.

Basis of allocation of investments and income thereon between policyholders account and shareholders account.
Income accruing on investments held in Policyholders and Shareholders funds have been taken to the respective funds.
The investible surplus, arising out of operations and income on Policyholders investments, was invested in Policyholders account.
The accretions to shareholders fund during the year stands invested in shareholders fund.
7)
RELATED PARTY DISCLOSURE:

(Related Party Relationship as identified by the Corporation)
As per the Accounting Standard on Related Party Disclosures (AS 18) issued by the Institute of Chartered Accountants of India, the
related parties/joint ventures of the Corporation are as follows:
105
A)
Joint Ventures:
LIC (Nepal) Ltd.
Kennindia Assurance Co.
LIC (International) EC, Bahrain
LIC (Lanka) Ltd.
LIC (Mauritius) Offshore Ltd.
B)
Associate Companies:
LIC Housing Finance Ltd.
Jeevan Bima Sahayog Asset Management Company Ltd.
LIC Mutual Fund Trustee Company Pvt. Ltd.

ie) ecegKe eyebOeve keeefce&ke
eer. Deej. Sve. Yeejepe
eer. S. kes. Megkeuee
eer. S. kes. Megkeuee
eer. er. Sme. efJepeeve
eer. er. Sme. efJepeeve
eer. kes. eerOej
eer. [er. kes. cesnjes$ee
eer. er. er. cewLet
31.05.2005
30.06.2005
01.07.2005
04.05.2006
24.01.2005
31.01.2006
01.07.2005
24.03.2006
leke DeOe#e
leke eyebOe efveosMeke
mes eYeeJeer DeOe#e, 30.04.2006 leke
mes eYeeJeer DeOe#e
mes eYeeJeer eyebOe efveosMeke, 03.05.2006 leke
leke eyebOe efveosMeke
mes eYeeJeer eyebOe efveosMeke
mes eYeeJeer eyebOe efveosMeke
Gheeg&kele mebyebefOele he#ekeejeW kes meeLe 2005-06 Je<e& kes oewjeve efveiece kes mebJeJenejeW kee mJehe SJeb Deeeleve efvecve nw efJeJejCe
Deee
yeepe
ueeYeebMe
efkejeee
Jee
HeyebOekeere Heeefjeeefceke
HeefjmecHeeflleeeB
efveJesMe
$eCe
HeeefHleeeB
oseleeSb
ose
mebegkele Gece
(hees ueeKeeW ceW)
meneesieer kebHeefveeeB
HecegKe HeyebOeve keeefce&ke
19507
(21664)
16
(251)
1734
(1617)
120
(188)
40
(33)
7030
(7030)
39801
(102588)
330452
(262600)
(5)
(393)
kees<ke ( ) ceW efoS DeeBke[s efHeues Je<e& keer jeefMe oMee&les nQ ~

8) 31.3.2006 kees meneesieer kebHeefveeeW kes efveJesMeeW kee uesKee (ues cee. 23)
peer.yeer.efve.ie=n efJee efue.

1. ceW mLeeefHele
2. efveeb$eCe kee efnmmee
3. HeefjmecHeefeeeB, oeefelJe, Deee leLee
Jee keer DevegHeeefleke jeefMe
(hees ueeKeeW ceW)
HeefjmecHeefeeeB
oseleeSb
kej Heeele ueeYe
4. HetBpeer JeeveyeleeDeeW ceW efnmmee
5. Deekeeqmceke osDeleeDeeW ceW efnmmee
meneesieer kebHeveerDeeW kee veece

peer.yeer. meneesie Smes
cewvespeceW keb. efue.
peer.yeer. meneesie efbveefOe

veemeer keb. hee. efue.
Yeejle
Yeejle
Yeejle
38.50%
49.50%
49.00%
605149
3557
0.96
(490907)
(3403)
(0.55)
553347
1124
0.23
(444898)
(1029)
(0.07)
8030
137
0.25
(5533)
(237)
(0.49)

106
49th Annual Report

C)
Key Management Personnel:

Shri R.N. Bharadwaj
Shri A.K. Shukla
Shri A.K. Shukla
Shri T.S. Vijayan
Shri T.S. Vijayan
Shri K. Sridhar
Shri D.K. Mehrotra
Shri T.T. Mathews
Chairman upto 31.05.2005

Managing Director upto 30.06.2005
Chairman w.e.f. 01.07.2005 upto 30.04.2006
Chairman w.e.f. 04.05.2006
Manging Director w.e.f. 24.01.2005 upto 03.05.2006
Managing Director upto 31.01.2006
Managing Director w.e.f. 01.07.2005
Managing Director w.e.f. 24.03.2006
The nature and volume of transactions of the Corporation during the year 2005-2006 with the above related parties were as follows:
(Rupees in lacs)
Particulars
Joint Venture
Associate Companies
Key Management Personnel
Income
Interest
19507
(21664)
Dividend
16
(251)
1734
(1617)
120
(188)
40
(33)
Rent
Expenditure
Managerial Remuneration
Assets
Investments
7030
(7030)
39801
(102588)
Loans
330452
(262600)
Receivables
(5)
(393)
Liabilities
Payables
Figures in brackets ( ) indicate previous year's figures.

8)
ACCOUNTING FOR INVESTMENTS IN ASSOCIATES AS AT 31.3.2006 (AS 23)

(Rupees in lacs)
NAME OF ASSOCIATE COMPANIES
LIC Housing Finance Ltd
1. Incorporated in India
2. Proportion of Holding
Jeevan Bima Sahayog Asset

Management Co. Ltd.
LIC Mutual Fund Trustee

Company Pvt. Ltd.
India
India
India
38.50%
49.50%
49.00%
3. Proportionate amount of Assets,

Liabilities and Net Profit.
(Rs. in lacs)
Assets
605149
3557
0.96
(490907)
(3403)
(0.55)
553347
1124
0.23
(444898)
(1029)
(0.07)
8030
137
0.25
(5533)
(237)
(0.49)
4. Share in Capital commitments
NIL
NIL
NIL
5. Share in contingent liabilities
NIL
NIL
NIL
Liabilties
Profit after tax
107

9) mebegkele GeceeW ceW Yeeieeroejer mebyebOeer 31.03.2006 kee efJeeere efJehejCe (ues cee. 27)
peer.yeer.efve.
(vesHeeue) efue.
efJeJejCe
1. ceW mLeeefHele
2. efveeb$eCe kee efnmmee
3. HeefjmecHeefeeeB, oeefelJe, Deee leLee
Jee keer DevegHeeefleke jeefMe
(hees ueeKeeW ceW)
HeefjmecHeefeeeB
peer.yeer.efve.
(Deblejje<êre)
F.meer. yenjerve
mebegkele GeceeW kes veece

kesve Fbef[ee
DeMetjvme keb.
peer.yeer.efve.
(uebkee) efue.
peer.yeer.efve.
ceeefjMeme
Dee@heMeesDej efue.
vesHeeue
yenjerve
kesveee
eer uebkee
ceeefjMeme
55%
97.80%
10%
75%
70%
4347.72
(2729.03)
122834.07
(96053.27)
4591.18
(3788.26)
827.65
(659.25)
5.86
(5.85)
66.48
(44.71)
109887.49
(89372.62)
3810.55
(3085.96)
337.41
(306.13)
0.73
(0.34)
Deee
1356.67
(851.10)
30963.79
(26122.76)
2396.91
(1372.26)
687.82
(297.00)
0.16
(0.03)
Jee
273.92
(205.64)
25245.76
(25605.00)
1942.21
(1027.35)
664.68
(545.44)
0.39
(0.04)
oseleeSb
4. HetBpeer JeeveyeleeDeeW ceW efnmmee

5. Deekeeqmceke osDeleeDeeW ceW efnmmee
108
49th Annual Report

9)
FINANCIAL REPORTING OF INTEREST IN JOINT VENTURES AS AT 31.3.2006 (AS 27)

Name of Joint Ventures
LIC (Nepal)
Ltd.
LIC
(International)
EC, Bahrain
Kennindia
Assurance
Company
LIC (Lanka)
Ltd.
LIC (Mauritius)
offshore
Ltd.
Nepal
Bahrain
Kenya
Sri Lanka
Mauritius
55%
97.80%
10%
75%
70%
4347.72
(2729.03)
122834.07
(96053.27)
4591.18
(3788.26)
827.65
(659.25)
5.86
(5.85)
66.48
(44.71)
109887.49
(89372.62)
3810.55
(3085.96)
337.41
(306.13)
0.73
(0.34)
Income
1356.67
(851.10)
30963.79
(26122.76)
2396.91
(1372.26)
687.82
(297.00)
0.16
(0.03)
Expenses
273.92
(205.64)
25245.76
(25605.00)
1942.21
(1027.35)
664.68
(545.44)
0.39
(0.04)
4. Share of capital commitments
NIL
NIL
NIL
NIL
NIL
5. Share of contingent liabilities
NIL
NIL
NIL
NIL
NIL
Particulars
1. Incorporated in
2. Proportion of holding company
3. The proportionate amount of Assets,
Liabilities, Income and Expenses
(Rs. in lacs)
Assets
Liabilities
109

10)
eeJeOeeveeW keer ieefle
emleeefJele ueeYeebMe kes efueS

cetueeve DeeefOeefMe<e)
eejbefYeke Mes<e
Yeejle mejkeej kees oer ieF& jeefMe
Fefle Mes<e
eeuet Je<e&
(hees ueeKeeW ceW)

efheues Je<e&
69660.16
62177.05
69660.16
62177.05
54813.06
69660.16
54813.06
69660.16
1494305.60
0.00
0.00
1494305.60
1495775.83
0.00
1470.23
1494305.60
(5%
MeesOe#ecelee meercee kes efueS DeeJeMeke eeJeOeeve

eejbefYeke Mes<e
Fefle Mes<e
efveiece kes KeC[Jeej heefjmecheefleeeB leLee oeefelJeeW keer #es$eJeej peevekeejer eLee mebYeJe eehle keer nw ~
12) efJeeere efJeJejCeeW ceW keeske ( ) ceW efoS ieS Deebke[s $e+Ceelceke Mes<e yeleeles nQ ~
13) peneB kener DeeJeMeke neW efheues Je<e& kes Deeke[eW keeW Fme Je<e& kes Deebke[eW mes leguevee kes efueS efHej mes ueeee ieee nw ~
11)
110
49th Annual Report

10) Movement of Provisions
(Rs. in lacs)
Current
Year
Previous
Year
69660.16
62177.05
69660.16
62177.05
54813.06
69660.16
54813.06
69660.16
1494305.60
0.00
0.00
1494305.60
1495775.83
0.00
1470.23
1494305.60
For Proposed Dividend

(5% Valuation Surplus)
Opening Balance
Addition during the year
Amount paid to Government of India
Closing Balance
Provision for reserve for solvency margin
Opening Balance
Addition during the year
Deduction during the year
Closing Balance
11) Segment wise assets and liabilities have been ascertained by the Corporation to the
extent possible.
12) Figures in bracket ( ) in financial statements indicate negative balances
13) Previous years figures have been recast wherever necessary to make them comparable with those of the Current Year.
DevegmetefeeeB 1 mes 15 ke leke kes efueS nmlee#ej

Signature to Schedules 1 to 15A

er. Sme. efJepeeve
DeOe#e
T. S. Vijayan
Chairman

eyebOe efveosMeke
D. K. Mehrotra
Managing Director
me.e. M. No. 009169
me.e. M. No. 70469

me.e. M. No. 19666
me.e. M. No. 59363

me.e. M. No. 011591
For Suri & Co.
me.e. M. No. 018525
js SC[ js kes efueS
For Ray & Ray
Thomas Mathew T.
efveiece kes meome

Jeer. heer. Mesder
V. P. Shetty
me.e. M. No. 57041
me.e. M. No. 15544
Sme. nefjnjve
S. Hariharan
Chief (F & A)
peer. Sve. DeeJeeue
G. N. Agarwal
Appointed Actuary
me.e. M. No. 9159
me.e. M. No. 17532
meveoer uesKeekeej
cegbyeF&
30 Deiemle, 2006
Mumbai
: 30 August, 2006
111
Lee@ceme cewLet er.

I
Annexure-I
HeefjefMe<
efJeeere efJeJejCeeW kee meejebMe

Summary of Financial Statements
(Rupees in lacs)
$e.
Sl.No.
efJeJejCe
Particulars
2005-06
2004-05
2003-04
2002-03
9079222.36
7512728.98
6316760.18
5462848.94
9075919.72
7508337.01
6313065.86
5460236.97
4004640.18
3631555.61
2984574.13
2598078.32
134128.41
99381.82
11250.46
35533.54
13214688.31
11239274.44
9308890.45
8093848.83
709491.94
624516.69
573383.75
499861.41
0.00
0.00
0.00
0.00
604156.06
598718.41
518649.79
457175.97
1313648.00
1223235.10
1092033.54
957037.38
3422434.88
2863574.70
2415736.70
2074674.76
6926622.66
6016357.77
4838441.62
4010201.10
62177.05
69660.16
54813.06
48809.53
994.65
1085.76
1012.06
887.17
63158.01
70836.50
55180.69
49696.70
0.00
0.00
0.00
0.00
63158.01
70836.50
55180.69
49696.70
0.00
0.00
0.00
0.00
53121335.44
41677316.99
34589711.14
27711291.78
46493426.55
35812425.29
29717505.21
22638007.40
0.00
0.00
0.00
0.00
HeeefuemeerOeejkeeW kee Keelee

POLICYHOLDERS A/C
mekeue eerefceece Deee

1.
2.
3.
Gross Premium Income

(Meg) eerefceece Deee#
Net Premium Income#
efveJesMeeW mes Deee (Meg) @
Income from investments (Net)@
Deve Deee
4.
Other Income
kegue Deee
5.
Total income
keceerMeve
6.
Commissions
oueeueer
7.
Brokerage
yeercee JeJemeee mes mebyebefOele eeeueve Jee

8.
Operating Expenses related to insurance business
kegue Jee
9.
Total Expenses
HeeefuemeerOeejkeeW kees Yegieleeve*

10.
Payment to policyholders*
yeerceebkeve oselee ceW Je=ef

11.
Increase in actuarial liability
eeeueve mes DeefOeMes<e/Ieee

12.
Surplus/Deficit (from operations)
MesejOeejkeeW kee Keelee

SHAREHOLDERS A/C
MesejOeejkeeW kes Keeles kes Debleie&le kegue Deee

13.
Total Income under shareholders A/c
kej HetJe& ueeYe/neefve

14.
Profit/(loss) before tax
kej kes efueS eeJeOeeve

15.
Provision for tax
kej HeMeeled ueeYe/neefve

16.
Profit/loss after tax
legueve-He$e kees Deesef<ele ueeYe/neefve

17.
Profit/loss carried to Balance sheet
efJeefJeOe
MISCELLANEOUS
(ke) HeeefuemeerOeejkeeW kee Keelee:

18.
(A) Policyholders account:
kegue efveefOe
Total funds
kegue efveJesMe
Total Investments
efveJesMe Hej % eeefHle
Yield on Investments %
112
49th Annual Report

(Rupees in lacs)
$e.
Sl.No.
efJeJejCe
Particulars
2005-06
2004-05
2003-04
2002-03
17699.85
13718.89
12542.55
12174.92
16640.43
12063.27
11612.79
10753.26
0.00
0.00
0.00
0.00
8.72
9.93
9.57
10.40
500.00
500.00
500.00
500.00
17699.85
13718.89
12542.55
12174.92
55244733.19
43807922.11
36735983.63
29053996.70
N.A.
N.A.
N.A.
N.A.
N.A.
N.A.
N.A.
N.A.
(Ke) MesejOeejkeeW kee Keelee

(B)
Shareholders account :
kegue efveefOe
Total funds
kegue efveJesMe
19
Total Investments
efveJesMe Hej % eeefHle
Yield on investments %
kegue efveJesMe Hej % eeefHle
Yield on total investments %
eolle FkeJeerer HetBpeer

20
Paid up equity capital
Meg cetue
21
Net worth
kegue HeefjmecHeefeeeB
22
TOTAL ASSETS
eefle Mesej Depe&ve

23
Earnings per Share
eefle Mesej yener cetue

24
Book value per share

# Meg Hegve&yeercee
# Net of reinsurance
@ Meg neefve
@ Net of losses
* Debleefjce yeesveme meefnle, eefo nes lees
* Inclusive of Interim bonuses, if any
113

II
Annexure-II
HeefjefMe<
DevegHeele
Ratios
(Rupees in lacs)
$e.
Sl.No.
efJeJejCe
Particulars
2005-06
2004-05
2003-04
17.05
(1.49)
9.19
(84.14)
245.50
(85.88)
(80.10)
(6.33)
64.79
41.54
0.48
(44.96)
(10.21)
(19.58)
88.92
(43.51)
32.55
205.05
99.99
99.97
99.94
99.95
99.93
99.94
100.00
100.00
100.00
99.96
99.94
99.94
14.47
17.55
17.29
25.26
26.43
25.89
5.57
5.69
5.78
1.10
1.07
0.55
7.82
8.75
9.09
29.02
9.38
3.02
2.67
3.59
3.38
17699.85
13718.90
12542.56
veJe JeJemeee eerefceece Deee Je=ef (eefleMele Je=ef)

1.
New Business premium income growth (% increase)

First Year Premium
peerJeve JeJemeee
Life Business
Jeeef<e&keer JeJemeee
Annuity Business
HesvMeve JeJemeee
Pension Business
Skeue eerefceece
Single Premium
peerJeve JeJemeee
Life Business
Jeeef<e&keer JeJemeee
Annuity Business
HesvMeve JeJemeee
Pension Business
Meg OeejCe DevegHeele (% )

2.
Net retention ratio (%)
eLece Je<e& eerefceece

First Year Premium
Renewal Premium
Skeue eerefceece
Single Premium
kegue eerefceece
Total Premium
eyevOeve Jee kee DevegHeele

3.
Ratio of expenses of management
keceerMeve DevegHeele
4.
Commission ratio
eLece Je<e& eerefceece

First Year Premium
Renewal Premium
Skeue eerefceece
Single Premium
kegue eerefceece
Total Premium
MesejOeejke efveefOe keer efJekeeme oj (% Je=ef)

5.
6.
Growth rate of shareholders funds (% increase)

HeeefuemeerOeejke oselee mes DeefOeMes<e kee DevegHeele (% Je=ef)
Ratio of surplus to policyholders' liability (% increase)
Meg cetue ceW HeefjJele&ve (Hees ueeKeeW ceW)

7.
Change in net worth (Rs. in lacs)
114
49th Annual Report

(Rupees in lacs)
$e.
Sl.No.
efJeJejCe
Particulars
2005-06
2004-05
2003-04
1.00
1.00
0.99
12.14
14.88
14.97
87.52
85.93
85.91
94.01
87.93
92.59
2.65
7.98
9.12
kegue Deee mes kej HeMeeled ueeYe

8.
Profit after tax to Total Income
vekeo SJeb efveJesefMele HeefjmecHeefeeeW mes (kegue peceerve peeeoeo + $eCe)

9.
(Total Real Estate + loans) to cash & invested assets

+ DeefOeMes<e) mes kegue efveJesMe
Total Investments to (Capital + surplus)
(HetBpeer
10.
ke) HeeefuemeerOeejkeeW keer efveefOe mes efveJesMe

a) Investments to Policyholders funds
Ke) MesejOeejkeeW keer efveefOe mes efveJesMe

b) Investments to Shareholders funds
(HetBpeer + DeefOeMes<e) mes kegue mecye efveJesMe

11.
Total affiliated Investments to (Capital + Surplus)

DevegmetefeeeB 1 mes 15 ke leke kes efueS nmlee#ej

Signature to Schedules 1 to 15A

DeOe#e
T. S. Vijayan
Chairman
me.e. M. No. 009169
me.e. M. No. 70469

eyebOe efveosMeke
D. K. Mehrotra
Managing Director

me.e. M. No. 19666
me.e. M. No. 59363
For Suri & Co.

me.e. M. No. 011591
me.e. M. No. 018525
js SC[ js kes efueS
For Ray & Ray
me.e. M. No. 15544
me.e. M. No. 9159
meveoer uesKeekeej
30 Deiemle, 2006
Mumbai
: 30 August, 2006
Thomas Mathew T.
efveiece kes meome

Jeer. heer. Mesder
V. P. Shetty
Sme. nefjnjve
S. Hariharan
Chief (F & A)
peer. Sve. DeeJeeue
G. N. Agarwal
Appointed Actuary

me.e. M. No. 17532
cegbyeF&
Lee@ceme cewLet er.
me.e. M. No. 57041
115
er. Sme. efJepeeve


HeeefHle SJeb Yegieleeve uesKee
RECEIPTS AND PAYMENTS ACCOUNTS
31 ceee& 2006 kees kegue JeJemeee mes mebyebefOele vekeo HeJeen efJeJejCe
CASH FLOW STATEMENT AS AT 31ST MARCH 2006 IN RESPECT OF TOTAL BUSINESS (Hees ueeKeesW cesW)
(Rupees in lacs)
efJeJejCe
Particulars
kegue / Total
eeuet Je<e&
kegue / Total
efHeues Je<e&
Current Year
Previous Year
9026784.58
7076745.10
147945.84
12290.12
3000.00
0.00
9177730.42
7089035.22
(1312515.25)
(1184593.11)
(3382990.95)
(2837766.57)
(253889.33)
422584.17
(288653.69)
(139674.81)
(5238049.22)
(3739450.32)
3939681.20
3349584.90
(408620.76)
(454365.31)
(29723.82)
(19529.49)
(69660.16)
(54813.01)
3431676.46
2820877.09
(4371.67)
(7945.74)
Heefjeeueve ieefleefJeefOeeeW mes vekeo HeJeen
CASH FLOWS FROM OPERATING ACTIVITIES
DebleJee&n
INFLOW
Heerefceece Deee (Meg)

1
Premium Income (Net)
Other income & Increase/(Decrease) in Premium Deposits
Deve Deee leLee eerefceece pecee ceW Je=ef/keceer

efveOeer ceW Yeejle mejkeej Joeje DebMeoeve
3
Fund contributed by Government of India
A)
TOTAL INFLOW (A)
kegue DebleJee&n (ke)

yeefnJee&n
OUTFLOW
eeeueve Jee SJeb keceerMeve

4
Operating Expenses & Commission
Benefit Paid
Deoe efkeee ieee ueeYe

egefve hetBpeer ceW keceer
6
Decrease in Unit Capital
Increase/(Decrease) in Advances Deposits
B)
TOTAL OUTFLOW (B)
Deve Deefece leLee peceeDeeW ceW Je=ef/keceer

kegue yeefnJee&&n (Ke)
HeefjeeueveeW mes efveefce&le vekeoer (ke) - (Ke)
CASH GENERATED FROM OPERATIONS (A) (B)
IeeeSW : Deoe efkeS ieS Deeekej

8
Less : Income Tax Paid
Bonus paid to policyholders
HeeefuemeerOeejkeeW kees Deoe efkeee yeesveme

MesejOeejkeeW kees ueeYeebMe efJelejCe
10
Dividend paid to Shareholders
Heefjeeueve ieefleefJeefOeeeW mes efveefce&le MegOo vekeoer

NET CASH GENERATED FROM OPERATING ACTIVITIES
efveJesMe ieefleefJeefOeeeW mes vekeo HeJeen

CASH FLOWS FROM INVESTING ACTIVITIES
Deeue HeefjmecHeeflleeeW keer Kejero (efye$eer mes Meg)

11
Purchase of fixed assets (Net of sales)
116
49th Annual Report

kegue / Total
eeuet Je<e&
efJeJejCe
Particulars
kegue / Total
efHeues Je<e&
Current Year
Previous Year
(6671219.14)
(5886608.72)
3475009.60
3101679.36
(3200581.21)
(2792875.10)
231095.25
28001.99
800155.67
1007389.43
1031250.92
1035391.42
efveJesMeeW keer Kejero (efye$eer mes Meg)

12
Purchase of Investments (Net of sales)
yeepe SJeb ueeYeebMe Deee

13
Interest & Dividend Income
efveJesMe ieefleefJeefOeeeW ceW eegkele MegOo vekeoer

NET CASH UTILISED IN INVESTING ACTIVITIES
vekeo SJeb vekeo legue ceW MegOo Je=efOo

NET INCREASE IN CASH & CASH EQUIVALENTS
Je<e& kes DeejbYe ceW vekeo SJeb vekeo legue

CASH & CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR
Je<e& kes Deble ceW vekeo SJeb vekeo legue

CASH & CASH EQUIVALENTS AT THE END OF THE YEAR
* yeefnJee&n keeske ceW efeefle efkeS nw~
* Outflows are marked in brackets ( )


er. Sme. efJepeeve
DeOe#e
T. S. Vijayan
Chairman

eyebOe efveosMeke
D. K. Mehrotra
Managing Director
me.e. M. No. 9169
me.e. M. No. 70469

me.e. M. No. 19666
me.e. M. No. 59363

me.e. M. No. 011591
For Suri & Co.
me.e. M. No. 018525
js SC[ js kes efueS
For Ray & Ray
Thomas Mathew T.
efveiece kes meome

Jeer. heer. Mesder
V. P. Shetty
me.e. M. No. 57041
me.e. M. No. 15544
Sme. nefjnjve
S. Hariharan
Chief (F & A)
peer. Sve. DeeJeeue
G. N. Agarwal
Appointed Actuary
me.e. M. No. 9159
me.e. M. No. 17532
meveoer uesKeekeej
cegbyeF&
30 Deiemle, 2006
Mumbai
: 30 August, 2006
117
Lee@ceme cewLet er.

FORM B-BS
Heece& yeer-yeerSme


31 ceee& 2006 leke HetBpeer ceeseve (efveOee&efjle Jeeef<e&keer meefnle) JeJemeee (iewj menYeeieer) mes mebyeefOele legueve-He$e
BALANCE SHEET AS AT 31ST MARCH, 2006
In respect of Capital Redemption (including Annuity Certain) Business (Non-Participating)
efJeJejCe
Particulars
(Rupees in lacs)
Devegmeteer
eeuet Je<e&
efHeues Je<e&
Schedule
Current Year
Previous Year
0.00
0.00
12410.67
10963.30
35.56
35.56
7.00
7.00
0.00
0.00
0.00
0.00
12453.23
11005.86
10453.05
10497.32
0.00
0.00
10
0.00
0.00
11
1566.38
16.02
12
860.49
571.45
2426.87
587.47
13
426.69
78.93
14
0.00
0.00
426.69
78.93
2000.18
508.54
0.00
0.00
0.00
0.00
12453.23
11005.86
efveefOeeesWkee m$eesle
SOURCES OF FUNDS
Mesej HeBtpeer
Share Capital
Heeefuemeer oeefelJe
Policy Liabilities
Deej#eCe SJeb DeefOeMes<e

Reserves and Surplus
mener cetue HeefjJele&ve uesKee

Fair Value Change Account
GOeejer
BORROWINGS
Funds for Future Appropriation
kegue
TOTAL
efveefOeeesWkee Heeesie
APPLICATION OF FUNDS
efveJesMe
INVESTMENTS
$eCe
LOANS
Deeue HeefjmecHeefleeeB
FIXED ASSETS
eeuet HeefjmecHeefleeeB
CURRENT ASSETS
jeske[ SJeb yewbke cesW Mes<e

Deefiece SJeb Deve HeefjmecHeefleeeB

Advances and Other Assets
GHe-eesie (ke)
Sub-Total (A)
eeuet oeefelJe
CURRENT LIABILITIES
HeeJeOeeve
PROVISIONS
GHe-eesie (Ke)
Sub-Total (B)
MegOo eeuet HeefjmecHeefleeeB (ie) = (ke)-(Ke)

NET CURRENT ASSETS (C) = (A - B)
efJeefJeOe Jee (pees yes Keeles cesb ve [eues ieS nes ee meceeeesefpele ve ngS nesW)
MISCELLANEOUS EXPENDITURE (to the extent not written off or adjusted)
15
ueeYe neefve uesKee ces veecesW Mes<e (MesejOeejkeeW kee uesKee)

DEBIT BALANCE IN PROFIT & LOSS ACCOUNT (Shareholders Account)
kegue
TOTAL
cenlJeHetCe& uesKeeveerefleeeB leLee uesKee mebyebOeer efHHeefCeeeB

Significant Accounting Policies and Notes to accounts
15ke peerJeve JeJemeee kes Debleie&le

15A under Life Business
118
49th Annual Report

Deekeefmceke oseleeSb
CONTINGENT LIABILITIES
(Rupees in lacs)
efJeJejCe
Particulars
eeuet Je<e&
efHeues Je<e&
Current Year
Previous year
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
DeebefMeke He mes egkelee efveJesMe

1
Partly paid up investments
kebHeveer eje $eCe kes He ceW Deceeve Hee@efuemeer oeJeeW

kes Deefleefjkele Deve oeJes
2
Claims, other than against policies, not

acknowledged as debts by the company
yekeeee neceeroejer Jeeeos (MesejeW leLee eefleYetefleeeW kes mecyevOe ceW)

3
Underwriting commitments outstanding (in

respect of shares and securities)
kebHeveer kes eje ee kebHeveer keer Deesj mes oer ieF& ieejber
4
Gurantees given by or on behalf of the Company
eeJeOeeve ve keer ieF& meebefJeefOeke ceebieW/efJeJeeefole oseleeSb

5
Statutory Demands/Liabilities in dispute, not provided for
eeJeOeeve keer ieF& meercee leke Hegve&yeercee yeeOeleeeW

6
Reinsurance obligations to the extent not provided for
Deve
7
Others
kegue
TOTAL

me.e. M. No. 9169
me.e. M. No. 9159
me.e. M. No. 15544
me.e. M. No. 19666
me.e. M. No. 70469
me.e. M. No. 17532
Jeer. heer. Mesder
V. P. Shetty

me.e. M. No. 011591
me.e. M. No. 59363
js SC[ js kes efueS
For Ray & Ray
For Suri & Co.
me.e. M. No. 57041
me.e. M. No. 018525
meveoer uesKeekeej
cegbyeF&
30 Deiemle, 2006
Mumbai
: 30 August, 2006
119
er. Sme. efJepeeve
DeOe#e
T. S. Vijayan
Chairman
eyebOe efveosMeke
D. K. Mehrotra
Managing Director
Lee@ceme cewLet er.

Thomas Mathew T.
efveiece kes meome

Members of the
Corporation
Sme. nefjnjve
S. Hariharan
Chief (F & A)
peer. Sve. DeeJeeue
G. N. Agarwal
Appointed Actuary
Heece& yeer-DeejS
FORM B-RA
31 ceee& 2006 kees meceeHle Je<e& kes efueS HetBpeer ceeseve (efveOee&efjle Jeeef<e&keer meefnle) JeJemeee (iewj menYeeieer) kee jepemJe uesKee
In respect of Capital Redemption (Including Annuity Certain) Business (Non-Participating)
efJeJejCe
Particulars
(Rupees in lacs)
Devegmeteer
eeuet Je<e&
efHeues Je<e&
Schedule
Current Year
Previous Year
1265.56
1230.88
0.04
2921.54
(26.62)
(9.16)
(1793.34)
(5090.68)
1.11
0.79
722.27
532.63
169.02
(414.00)
433.35
444.04
22.13
26.43
59.51
61.79
0.00
0.00
0.00
0.00
0.00
0.00
514.99
532.26
(345.97)
(946.26)
0.00
0.00
0.00
0.00
0.00
0.00
(345.97)
(946.26)
Deefpe&le (MegOo) Heerefceece

1.
Premiums earned (Net)
(ke) efveJesMeeW keer efye$eer / ceeseve mes ueeYe

2.
(A) Profit on sale/redemption of investments
(Ke) efveJesMeeW keer efye$eer / ceeseve mes neefve

(B)
Loss on sale/redemption of investments
Heeefuemeer oeefelJe ceW HeefjJele&ve

3.
Change in Policy Liabilities
Deve
4.
Others
yeepe (Hegkej) eeHle

Interest (Sundry) received
yeepe Ske ueeYeebMe - kegue

5.
Interest & Dividends - Gross
kegue (ke)
TOTAL (A)
Heolle oeJes (MegOo)

1.
Claims incurred (Net)
keceerMeve
2.
Commission
yeercee JeJemeee mes mebyeefvOele Heefjeeueve Kee&

3.
Operating Expenses related to Insurance Business
Deve
4.
Others
mebefoiOe leLee DeMeesOe $eCeesW kes efueS HeeJeOeeve

Provision for Bad & Doubtful Debts
kejeOeeve kes efueS HeeJeOeeve

Hegvejebefkele kejeOeeve kes efueS eeJeOeeve

Provision for Taxation Written Back
kegue (Ke)
TOTAL (B)
HetBpeer ceeseve (efveOee&efjle Jeeef<e&keer meefnle) JeJemeee mes

Heefjeeueve ueeYe/(neefve) (ie)=(ke - Ke)
Operating Profit/(Loss) from Capital Redemtion
(including Annuity Certain) Business (C) = (A - B)
efJeefveeespeve
APPROPRIATIONS
MesejOeejkeeW kes Keeles ceW DeblejCe

Transfer to Shareholders Account
DeeHeelekeeueerve Deejef#ele efveefOeeeW ceW DeblejCe

Transfer to Catastrophe Reserve
Deve Deejef#ele efveefOeeeW ceW DeblejCe

Transfer to Other Reserves
kegue (ie)
TOTAL (C)
120
49th Annual Report

pewmee efke yeercee DeefOeefveece 1938 keer Oeeje 40 ie (2) ceW Jeebefle nw, nce eceeefCele
kejles nw efke nceejer meJeexllece peevekeejer Deewj efJeeeme leLee nceW oer ieF& metevee Deewj
mheefkejCe kes Devegmeej Deewj pewmee efke nceW efveiece keer Keelee yeefneeW kes heefj#ee mes
ueielee nw :
(ke) hetBpeer ceeseve (efveOee&efjle Jeeef<e&keer meefnle) JeJemeee kes mebyebOe ces Yeejle ceW efveiece
eje mebheeefole meYeer Jee hetjer lejn jepemJe Keeles ceW veeceW efkeS ieS nQ ~
(Ke) Yeejle ceW efveiece eje mebheeefole heBtpeer ceeseve (efveOee&efjle Jeeef<e&keer meefnle) JeJemeee
kes meYeer ueeiele hetjer lejn jepemJe Keeles ceW veeceW efkeS ieS nQ ~
Ghejeskele DevegmetefeeeB efJeeere efJeJejCeeW kes DebieYetle nw ~
As required by Section 40 C (2) of the Insurance Act, 1938, we certify
that to the best of our knowledge and belief and according to the
information and explanations given to us and so far as appears from our
examination of the Corporations books of accounts.
(a) all expenses of management, in respect of Capital Redemption
(including Annuity Certain) Business transacted in India by the
Corporation have been fully debited to the Revenue Account.
(b) all charges incurred in respect of Capital Redemption (including
Annuity Certain) Business transacted in India by the Corporation have
been fully debited in the Revenue Account.
The Schedules referred to above form an integral part of the Financial
Statements.

me.e. M. No. 9169
me.e. M. No. 9159
me.e. M. No. 15544
me.e. M. No. 19666
me.e. M. No. 70469
me.e. M. No. 17532
er. Sme. efJepeeve
DeOe#e
T. S. Vijayan
Chairman
eyebOe efveosMeke
D. K. Mehrotra
Managing Director
Lee@ceme cewLet er.

Thomas Mathew T.
Jeer. heer. Mesder
V. P. Shetty

me.e. M. No. 011591
me.e. M. No. 59363
js SC[ js kes efueS
For Ray & Ray
For Suri & Co.
me.e. M. No. 57041
me.e. M. No. 018525
meveoer uesKeekeej
cegbyeF&
30 Deiemle, 2006
Mumbai
: 30 August, 2006
121
efveiece kes meome

Members of the
Corporation
Sme. nefjnjve
S. Hariharan
Chief (F & A)
peer. Sve. DeeJeeue
G. N. Agarwal
Appointed Actuary
Heece& yeer-HeerSue FORM B-PL


31 ceee& 2006 kees meceeHle Je<e& kes efueS HetBpeer ceeseve (efveOee&efjle Jeeef<e&keer meefnle) JeJemeee kee ueeYe - neefve uesKee
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2006
In respect of Capital Redemption (Including Annuity Certain) Business
efJeJejCe
Particulars
(Rupees in lacs)
Devegmeteer
eeuet Je<e&
efHeues Je<e&
Schedule
Current Year
Previous Year
0.00
0.00
0.00
0.00
(345.97)
(946.26)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
(345.97)
(946.26)
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
(345.97)
(946.26)
0.00
0.00
(345.97)
(946.26)
0.00
0.00
Heefjeeueve ueeYe / (neefve)

1.
Operating Profit/(Loss)
(ke) Deefive yeercee

(a)
Fire Insurance
(Ke) mecegoere yeercee

(b)
Marine Insurance
(c)
Miscellaneous Insurance(Capital Redemption

[including Annuity Certain] Business)
(ie) efJeefJeOe yeercee (HetBpeer ceeseve [efveOee&efjle Jeeef<e&keer meefnle] JeJemeee)
efveJesMe mes Deee

2.
(ke) yeepe Skeb ueeYeebMe - kegue

(a)
Interest & Dividends - Gross
(Ke) efveJesMe efyekeer/ceeseve Hej ueeYe

(b)
Profit on sale/redemption of Investment
IeeFS : efveJesMe efyekeer Hej neefve

Less : Loss on sale of Investments
Deve Deee
3.
Other Income
kegue (ke)
TOTAL (A)
HeeJeOeeve (kejeOeeve kes Deefleefjkele)

4.
Provisions (Other than taxation)
(ke) efveJesMe kes cetue cesW (MegOo) keceer kes efueS

(a)
(Ke) mebefoiOe $eCeeW kes efueS

(b)
For doubtful debts
(ie) Deve
(c)
Others
Deve Jee
5.
Other expenses
(ke) yeercee JeJemeee mes meerOes mebyebefOele KeeeX kes Deefleefjkele Deve Kee&
(a)
Expenses other than those related to Insurance Business
(Ke) yes Keeles ceW [eues iees [tyes $eCe

(b)
Bad Debts written off
(ie) Deve
(c)
Others
kegue (Ke)
TOTAL (B)
kej HetJe& ueeYe

Profit before tax
kejeOeeve kes efueS HeeJeOeeve

kej kes yeeo ueeYe

Profit after tax
efJeefveeespeve
APPROPRIATIONS
(ke) Je<e& kes oewjeve Heolle Devleefjce ueeYeebMe

(a)
Interim Dividends paid during the year
122
49th Annual Report

(Rupees in lacs)
efJeJejCe
Particulars
Devegmeteer
eeuet Je<e&
efHeues Je<e&
Schedule
Current Year
Previous Year
(Ke) HemleeefJele Debeflece ueeYeebMe

(b)
Proposed final dividend
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
(345.97)
(946.26)
(ie) ueeYeebMe Deeyebve Hej kej

(c)
Dividend Distribution Tax
(Ie) Deej#eCe / Deve uesKee kees DeblejCe

(d)
Transfer to any reserves / other accounts
efHeues Je<e& mes Deiesef<ele ueeYe / neefve

Balance of profit/loss brought forward from last year
legueve He$e kees Deiesef<ele ueeYe / neefve

Profit/Loss carried forward to the Balance Sheet


eyebOe efveosMeke
D. K. Mehrotra
Managing Director

For Suri & Co.
Lee@ceme cewLet er.
Thomas Mathew T.

me.e. M. No. 009169
DeOe#e
T. S. Vijayan
Chairman
me.e. M. No. 70469

me.e. M. No. 19666
me.e. M. No. 59363

me.e. M. No. 011591
me.e. M. No. 018525
js SC[ js kes efueS
For Ray & Ray
efveiece kes meome

Jeer. heer. Mesder
V. P. Shetty
me.e. M. No. 57041
me.e. M. No. 15544
Sme. nefjnjve
S. Hariharan
Chief (F & A)
peer. Sve. DeeJeeue
G. N. Agarwal
Appointed Actuary
me.e. M. No. 9159
me.e. M. No. 17532
meveoer uesKeekeej
cegbyeF&
30 Deiemle, 2006
Mumbai
: 30 August, 2006
123
er. Sme. efJepeeve

DevegmetefeeeB pees efJeeere efJeJejCeeW kes DebieYetle nQ
SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS
Devegmeteer
SCHEDULE
1 - Deefpe&le Heerefceece (Meg)
1 PREMIUM EARNED (NET)
efJeJejCe
Particulars
(Rupees in lacs)
Current Year
eeuet Je<e&
Previous Year
efHeues Je<e&
1265.56
1230.88
0.00
0.00
0.00
0.00
1265.56
1230.88
1265.56
1230.88
1265.56
1230.88
0.00
0.00
1265.56
1230.88
ele#e efkees iees JeJemeeemes Heerefceece

Premium from direct business written
pees[s : mJeerke=le Hegve&yeercee Hej Heerefceece

Add : Premium on reinsurance accepted
IeeFS : DeblejCe efkeS yeerceeW Hej Heerefceece

Less
: Premium on reinsurance ceded
egOo Heerefceece
NET PREMIUM
kegue eerefceece (Meg)

TOTAL PREMIUM EARNED (NET)
JeJemeee mes eYeeefJele eerefceece Deee

Premium Income from business effected
Yeejle ceW
In India
Yeejle kes yeenj

Outside India
kegue Heerefceece (Meg)

TOTAL PREMIUM (NET)
Devegmeteer
2 - eoe oeJes (egOo)
SCHEDULE
2 CLAIMS INCURRED (NET)
efJeJejCe
Particulars
(Rupees in lacs)
Current Year
eeuet Je<e&
Previous Year
efHeues Je<e&
433.35
444.04
0.00
0.00
0.00
0.00
433.35
444.04
433.35
444.04
433.35
444.04
0.00
0.00
433.35
444.04
Heoe oeJeW
CLAIMS PAID
meerOes
Direct
pees[s : mJeerke=le Hegve&yeercee

Add : Reinsurance accepted
IeeFS : Debleefjle Hegve&yeercee

Less : Reinsurance Ceded
egOo Heoe oeJes

Net Claims paid
kegue Heolle oeJeW

TOTAL CLAIMS INCURRED
oeJeeW Hej Yegieleeve

CLAIMS PAID TO CLAIMANTS
Yeejle ceW
In India
Yeejle kes yeenj

Outside India
kegue eoe oeJes

TOTAL CLAIMS INCURRED
124
49th Annual Report

Devegmeteer
SCHEDULE
3 - keceerMeve
3 COMMISSION
efJeJejCe
Particulars
(Rupees in lacs)
Current Year
eeuet Je<e&
Previous Year
efHeues Je<e&
22.13
26.43
0.00
0.00
0.00
0.00
22.13
26.43
Heoe keceerMeve
1
Commission paid
meerOes
Direct
pees[s: mJeerke=le Hegve&yeerceeHej keceerMeve

Add : Commission on Re-insurance Accepted
IeeFS : Debleefjle Hegve&yeerceeHej keceerMeve

Less
: Commission on Re-insurance Ceded
MegOo keceerMeve
Net Commission
Devegmeteer
SCHEDULE
4 - yeercee JeJemeeemes mecyeefvOele Heefjeeueve Jee
4 OPERATING EXPENSES RELATED TO INSURANCE BUSINESS
efJeJejCe
Particulars
(Rupees in lacs)
Current Year
eeuet Je<e&
Previous Year
efHeues Je<e&
47.98
51.70
1.20
0.93
0.09
0.09
1.29
1.11
0.40
0.38
0.70
0.68
2.12
2.09
0.04
0.03
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
kece&eeefjeesWkee Heeefjeefceke leLee keueeCe ueeYe

1
Employees remuneration & welfare benefits
ee$ee, meJeejer SJeb Jeenve eeueve Jee

2
Travel, conveyance and vehicle running expenses
eefMe#eCe Jee
3
Training Expenses
efkejeee, ojsW SJeb kej

4
Rents, rates & taxes
cejccele
5
Repairs
cegoCe SJeb msMevejer

6
Printing & Stationery
mebeej
7
Communication
efJeefOeke SJeb JeeJemeeefeke Jee

8
Legal & professional charges
uesKee Meguke, Jee Deeefo

9
Auditors Fees, Expenses etc.
(ke)
uesKee Hejer#eke kes He ceW
(a)
as auditors
(Ke) meueenkeej kes He ceW ee efvecve mebyebOe ceW efkemeer Yeer #ecelee ceW
(b)
as advisor or in any other capacity, in respect of

(i) kejeOeeve ceeceues
(i) Taxation matters
(ii) yeercee ceeceues
(ii) Insurance Matters
(iii) eyebOeve mesJeeSb SJeb
(iii) Management Services; and
(ie)
efkemeer Deve #ecelee ceW
(c)
in any other capacity
efJe%eeHeve SJeb eeej

10
125
Advertisement and publicity

efJeJejCe
Particulars
Current Year
eeuet Je<e&
Previous Year
efHeues Je<e&
0.80
0.71
1.92
1.43
0.00
0.00
0.00
0.00
1.30
1.12
1.67
1.52
59.51
61.79
Jeepe SJeb yewbke HeYeej

11
Interest & bank Charges
Deve
12
Others
efeefkelmee Meguke
Medical Fees
Heeefuemeer mwcHme
Policy Stamps
JeeHeej ueeFmeWmees kes vetleveerkejCe leLee HebpeerkejCe kes efueS Meguke

Fees for renewal and registration of trade licences
cetueNneme
13
Depreciation
kegue
TOTAL
Devegmeteer
6 - Deej#eCe SJeb DeefOees<e
SCHEDULE
6 RESERVES AND SURPLUS
efJeJejCe
Particulars
(Rupees in lacs)
Current Year
eeuet Je<e&
Previous Year
efHeues Je<e&
0.00
0.00
0.00
0.00
0.00
0.00
35.56
35.56
0.00
0.00
35.56
35.56
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
35.56
35.56
HetBpeer Deej#eCe
1
Capital Reserve
HetBpeer ceeseve Deej#eCe

2
Mesej Heerefceece
3
Share Premium
meeceeve Deej#eCe
4
General Reserves
HeejbefYeke Mes<e
Opening Balance

Deble Mes<e
Closing Balance
IeeFS - ueeYe-neefve, uesKeWs ces veecebs DeefOeMes<e eefo nes lees

Less : Debit balance in Profit and Loss Account
IeeFS - Hegve&Keefjoer kes efueS Heegkele jeefMe

Less: Amount utilized for Buy-back
DeeHeelkeeueerve Deej#eCe
5
Catastrophe Reserve
Deve Deej#eCe
6
Other Reserves
ueeYe neefve uesKeW cesW Mes<e ueeYe

7
Balance of Profit in Profit and Loss Account
kegue
TOTAL
126
49th Annual Report

Devegmeteer
SCHEDULE
8 - efveJese
8 INVESTMENTS
efJeJejCe
Particulars
(Rupees in lacs)
Current Year
eeuet Je<e&
Previous Year
efHeues Je<e&
10444.33
10470.95
0.00
0.00
0.00
0.00
19.57
19.56
(10.85)
(10.85)
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
0.00
0.00
0.00
0.00
0.00
17.66
0.00
0.00
Kepeeves keer efyeueesWmeefnle mejkeejer HeefleYetefleeeB leLee mejkeejer ieejbefle yevOe-He$e

1
Government securities and Government

guaranteed bonds including Treasury Bills

2
Deve efveJese
3
Other Investments
(ke) Mesej
(a) Shares
(keke) FefkeJeer
(aa) Equity
IeeFS : Demeteer MesejeW ces IeeJe kes efueS eeJeOeeve

Less : Provision for diminution in unlisted shares
(KeKe) DeeefOeceeveer
(bb) Preference

(b) Mutual Funds


IeeFS : mebefoiOe efveJesMe kes efueS HeeJeOeeve

Less : Provision for doubtful investments
([) Deve HeefleYetefleeeB

(e) meneeke
(f) Subsidiaries

yegefveeeoer megefJeOeeDees leLee meeceeefpeke #es$e ces efveJesMe

4

Kepeeveskeer efyeueesWmeefnle mejkeejer HeefleYetefleeeB leLee mejkeejer ieejbefle yevOe-He$e

1
Government securities and Government

guaranteed bonds including Treasury Bills

2
127

Devegmeteer
SCHEDULE
8 - efveJese (peejer.....)
8 INVESTMENTS (Contd. ...)
efJeJejCe
Particulars
(Rupees in lacs)
Current Year
eeuet Je<e&
Previous Year
efHeues Je<e&
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
0.00
0.00
16.27
16.27
(16.27)
(16.27)
10453.05
10497.32
10453.05
10497.32
0.00
0.00
10453.05
10497.32
Deve efveJesMe
3
Other Investments
(ke) Mesej
(a) Shares
(keke) FefkeJeer
(aa) Equity
(KeKe) DeeefOeceeveer
(bb) Preference

(b) Mutual Funds

(Ie) $eCe He$e / yebOe He$e

([) Deve HeefleYetefleeeB

(e) meneeke
(f)
Subsidiaries

(g) Investment properties - Real Estate
yegefveeeoer megefJeOeeDeesb leLee meeceeefpeke #es$e ces efveJesMe

4

5
IeeFS mebefoiOe efveJesMeeW kes efueS eeJeOeeve

Less : Provision for doubtful Investments
kegue
TOTAL
HeefjmebHeefeeeB
INVESTMENTS
Yeejle ceW
In India
Yeejle kes yeenj

Outside India
kegue
TOTAL
128
49th Annual Report

Devegmeteer
11 - jeske[ SJeb yeQke ceW Deeflees<e
SCHEDULE
11 CASH AND BANK BALANCES
efJeJejCe
Particulars
(Rupees in lacs)
Current Year
eeuet Je<e&
Previous Year
efHeues Je<e&
0.00
0.00
0.00
0.00
0.00
0.00
4.02
4.02
0.00
0.00
1562.36
12.00
0.00
0.00
0.00
0.00
1566.38
16.02
1566.38
16.02
0.00
0.00
1566.38
16.02
vekeo (ewke [êHe SJeb mwcHe meefnle)

1
Cash (including cheques, drafts and stamps)
yewQke pecee
2
Bank Balances
(ke) pecee Keelee

(a) Deposit Accounts
(keke) DeuHeeJeefOe (legueve He$e keer leejerKe mes

(aa)
Short-term (due within 12 months

of the date of Balance Sheet)
12
ceefnves kes Yeerlej ose)
(KeKe) Deve
(bb)
Others
(Ke) eeuet Keelee

(b) Current Accounts
(ie) Deve
(c) Others
ceeBie ves Deewj DeuHe metevee Hej Oeve

3
Money at Call and Short Notice
(ke) yewQke cesW

(a) With Banks
(Ke) Deve mebmLeevees cesW

(b) With other Institutions
Deve
4
Others
kegue
TOTAL
iewj Devegmetefele yeQkeeW keer Mes<e Ghejeskele

2 leLee 3 ceW meefcceefuele nw
Balances with non-scheduled banks
included in 2 and 3 above
vekeo SJeb yewQke pecee

Yeejle ceW
In India
Yeejle kes yeenj

Outside India
kegue
Total
129

Devegmeteer
12 - Deefiece SJeb Deve HeefjmecHeefeeeB
SCHEDULE
12 ADVANCES AND OTHER ASSETS
efJeJejCe
Particulars
(Rupees in lacs)
eeuet Je<e&
efHeues Je<e&
Current Year
Previous Year
0.00
0.00
0.00
0.00
1.23
1.31
0.00
0.00
0.00
0.00
0.00
0.00
1.23
1.31
257.80
255.83
(42.15)
(39.67)
15.43
33.15
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
(129.95)
0.00
758.13
320.83
859.26
570.14
860.49
571.45
Deefiece
ADVANCES
Debleefjce kebHeefveees ces Deejef#ele pecee

1
Reserve deposits with ceding companies
efveJesMe kes efueS DeeJesove Oeve

2
Application money for investments
Henues Yegieleeve
3
Prepayments
DeeefOekeeefjeesWkees / efveosMekeesWkees Deefiece

4
Advances to Officers/Directors
Deoe efkeee ieee Deefiece kej SJeb m$eesle Hej kej keewleer
5
Advance Tax paid and taxes deducted at source
Deve Deefece
6
Other Advances
kegue (ke)
Total (A)
Deve HeefjmecHeeflleeeB
OTHER ASSETS
efveJesMeebsHej yekeeee HeesodYetle Deee

1
Income Outstanding accrued on investments
mebefoiOe Jeepe kee HeeJeOeeve

2
Provision for interest doubtful of recovery
yekeeee Heerefceece
3
Outstanding Premiums
Spebebs keer yeekeer

4
Agents Balances
efJeosMeer SpebefmeeesW keer yeekeer

5
Foreign Agencies Balances
Deve FberereesW mes HeeHle nesves Jeeuee FbvMegjsvme JeJemeee (Hegve&yeerceebefkele meefnle)
6
Due from other entities carrying on insurance business (including reinsurers)
meneeke / efveeb$eke kebHeveer mes HeeHle nesves Jeeuee

7
Due from subsidiaries/holding company
Yeejleere efjpeJe& yewQke ces pecee

(Jeercee DeefOeefveece 1938 keerr KeC[
7 kes DevegmejCe
Deposit with Reserve Bank of India
[Pursuant to section 7 of Insurance Act,1938]
Others
cesW)
Deve
Deblej keeee&ueeerve uesKee
Inter Office account
peerJeve JeJemeee mes HeeHe jeefe

Amounts due from Life Business
kegue (Ke)
Total (B)
kegue (ke + Ke)
TOTAL (A + B)
130
49th Annual Report

Devegmeteer
13 - eeuet oseleeSb
SCHEDULE
13 CURRENT LIABILITIES
(Rupees in lacs)
efJeJejCe
Particulars
eeuet Je<e&
efHeues Je<e&
Current Year
Previous Year
Agents Balances
Spebesbkeer yeekeer
0.00
0.00
Deve yeercee kebHeefveeesb kees ose jeefMe
Balances due to other insurance companies
0.00
0.00
Hegve&yeercee Debleefjle Hej Oeeefjle pecee
Deposits held on reinsurance ceded
0.00
0.00
Deefiece He cesb HeeHle Heerefceece
Premiums received in advance
0.00
0.00
Deefeefle eerefceece
Unallocated Premium
0.00
0.00
Hegkej uesveoej
Sundry Creditors
0.23
0.22
meneeke / efveeb$eke kebHeveer kees ose
Due to subsidiaries/holding company
0.00
0.00
yekeeee oeJee (Jeeef<e&efkeee ose Deewj Deoe)
Claims Outstanding (Annuities due and Unpaid)
63.88
78.04
DeefOekeejereesW /efveosMekeeW kees ose
Due to Officers/Directors
0.00
0.00
10
Deve (Deve efJeefJeOe pecee)
0.00
0.00
yekeeee keceerMeve
0.31
0.67
351.49
0.00
10.78
0.00
426.69
78.93
Others (Other Miscellaneous Credits)

i. Outstanding Commission
Deblej keeee&ueeerve uesKee
ii. Inter Office Account
Deve osveoeefjeeB
iii. Other Liabilities
kegue
TOTAL
DevegmetefeeeB 1 mes 4,6,8 Deewj 11 mes 13 leke kes efueS nmlee#ej

Signature to Schedules 1 to 4,6,8 & 11 to 13
me.e. M. No. 009169
me.e. M. No. 9159
me.e. M. No. 19666
me.e. M. No. 70469

js SC[ js kes efueS

me.e. M. No. 011591
For Ray & Ray
me.e. M. No. 57041
me.e. M. No. 59363

me.e. M. No. 15544


me.e. M. No. 17532
er. Sme. efJepeeve
DeOe#e
T. S. Vijayan
Chairman
eyebOe efveosMeke
D. K. Mehrotra
Managing Director
Lee@ceme cewLet er.

Thomas Mathew T.
Jeer. heer. Mesder
efveiece kes meome

Members of the
Corporation
V. P. Shetty
Sme. nefjnjve
S. Hariharan
Chief (F & A)
peer. Sve. DeeJeeue
G. N. Agarwal
Appointed Actuary
For Suri & Co.
me.e. M. No. 018525
meveoer uesKeekeej
cegbyeF&
30 Deiemle, 2006
Mumbai
: 30 August, 2006
131

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49th Annual Report

efveiece kes meome

MEMBERS OF THE CORPORATION

eer er. Sme. efJepeeve, DeOe#e

eer efJeveeso jee

eer Jeer. heer. Mesder

[e@. DejefJebo efJejceeveer

eer Leewceme cesLet er.

eer [er. kes. cesnjes$ee

Shri Vinod Rai

Shri D.K. Mehrotra

eer Deej. kes. peesMeer

Shri Thomas Mathew T.

eer DeefceleeYe kees"ejer

eerceleer heg<hee efieefjceepeer

eer megveerue keeble cegbpeeue

[e@. (megeer) mJeeleer efhejeceue

[e@. ieewlece yeDee

Dr. Gautam Barua

49JeeR Jeeef<e&ke efjhees&

31 ceee& kees efveiece kes

eer S. kes. Megkeue

eer Sme. kes. efceej

eer er. Smed . efJepeeve

eer Jeer. kes. efmevne

eer [er. kes. cesnjes$ee

eer Lee@ceme cewLet er.

eer. Smed. mejkeej

eer S. kes. espeea

eer Deej. JesCegieesheeue

eer [er. ke=<Ceve

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eer Sce.Jeer. mete&veejeeCe

eerceleer Smed. eewOejer

eer Sce. kes. mebLeeveece

eerceleer er. er. cewLet

eer DeMeeske Meen

eer [er. [er. efmebn

eer er. eesheeOeee

eer Sme. je@e eewOejer

eer Deej. Deej. oeMe

eer Deej.Deej. veeej

eer peer. yeer. heeb[s

eer Sve. ceesnvejepe

eer S. kes. meeng

eer. peer. eYeekeje

eer yeer. Sve. meeceue

eer S. kes. oemeieghlee

eerceleer Smed.heer. megkegceej

[e@. Se. meeOeke

eer Deej. Deej. jee

eer Smed. kes. keheener

eer Smed. Sue. cegBo[e

[e@. Se. meer. pewve

eer Deej. Sue. vejefmecnve

eerceleer [er. efJepeeeue#ceer

eerceleer efHeueesefcevee Lee@ceme

eer Sue. Sce. ueesneveer

eer Smed. Sve. ieghlee

eer Deej. Jeer. jeJe

eer keceuepeer menee

49th Annual Report

Senior Executives of the

Shri Thomas Mathew T.