Page 33 - Insurance Times April 2022

premium, dues from other entities carrying on insurance
business (including reinsurers) balance with terrorism pool
and balance with motor third party pool, if any.

Shareholders' funds comprise of share capital, including
reserves and surplus, less accumulated losses, if any
preliminary expenses and miscellaneous expenditure to the
extent not written off or adjusted.

Investment income earned on investment identified out of
shareholders' funds is credited to profit and loss account.

Investment income earned on investment identified out of
policy holders' funds has been allocated to the various Investment income which is directly identifiable is allocated
segments on the basis of the average reserves for unexpired on actuals to revenue account(s) and profit and loss account
risks and outstanding claims of the respective segments. as applicable. Investment income which is not directly
identifiable has been allocated on the basis of ratio of
average policyholders' investments to average shareholders'
8. HDFC Ergo General Insurance Company
investments, average being the balance at the beginning
Limited of the year and at the end of the reporting year.
Pursuant to the provisions of IRDA/F&A/CIR/CPM/056/03/
2016 dated 4th April, 2016 and IRDAI Circular IRDA/F&A/ Further investment income across segments within the
CIR/CPM/010/01/2017 dated 12th January, 2017, the revenue accounts has also been allocated on the basis of
investment made by the company and, investment income segment wise policyholder funds.
and fairvalue change account are bifurcated into
policyholders' and shareholders' funds on notional basis.
10.IFFCO Tokio General Insurance Company
Policyholders' fund is the sum of a) Outstanding claims Limited
including IBNR & IBNER b) Unexpired premium reserve c) Investment income is apportioned to Profit and Loss Account
Premium deficiency, if any d) Catastrophe reserve, if any e) and Revenue Accounts in the ratio of average shareholders'
Other liabilities net of other assets. Other liabilities comprised Funds and Policyholders' Funds standing in each class of
of premium receive in advance unallocated premium, business at the end of each month.
balance due to other insurance companies due to the other
members of the motor third party pool and due to 11.KOTAK MAHINDRA General Insurance
policyholders. Other assets comprise of outstanding
premium, dues from other entities carrying on insurance Company Limited
business (including reinsurers) balance with terrorism pool In accordance with Circular No. IRDA/F&A/CIR/CPM/010/
and balance with motor third party pool, if any. 01/2017 dated 12th January, 2017 issued by IRDAI on
segregation of Policyholder's fund and Shareholder's Fund,
Shareholders' funds comprise of share capital, including investment income for the period has been allocated to
reserves and surplus, less accumulated losses, if any Revenue Account and Profit and Loss Account on basis of
preliminary expenses and miscellaneous expenditure to the the ratio of average balance of policyholder's funds to
extent not written off or adjusted. average balance of shareholder's funds as at the close of
each reporting period. Within the Revenue Account, the
9. ICICI Lombard General Insurance Company investment income shall be further allocated among the lines
Limited of business in proportion to average policyholder funds
(comprising of reserve for unexpired risks, IBNR, IBNER and
Investments that are earmarked are allocated separately
outstanding claims) to average shareholders fund.
to policyholder's or shareholder's as applicable: Balance
investments are segregated at Sharholders' level and
Policyholders' level notionally based on policyholders' funds 12.Liberty General Insurance Limited
and shareholders funds at the end of the period as Investment income is allocated to the revenue accounts and
prescribed by IRDAI. the profit and loss account on the basis of investment in

The Insurance Times, April 2022 33