Page 35 - Insurance Times April 2022

liability for outstanding claims including IBNR and IBNER, Policyholder's and Shareholders' Funds on the same lines as
Unexpired Risk Reserves, Premium Deficiency (if any) and investment income as stated in item 7 herein below.
Catastrophe Reserves (if any) and Other liabilities net of
other assets (relating to policyholders) as per the guidelines Investment income other than that from pool accounts
of IRDA. The residual consist of shareholder funds. (including profit or loss on sale of investments) is allocated
to respective Revenue Accounts and Profit and Loss Account
The investments pertaining to Shareholders' and based on the ratio of average Policyholders' Funds and
Policyholders' are segregated as on the balance sheet date Shareholders' Funds respectively. (average of funds at the
as per IRDA regulations (Circular No. IRDA/F&A/CIR/CPM/ beginning and at the end of the year)
056/03/2016 dated 4th April, 2016
Policyholders' Funds are the aggregate of outstanding
18.Raheja QBE General Insurance Company claims, estimates for IBNR (including IBNER), reserve for
unexpired risk, premium deficiency, catastrophe reserve and
Limited
other liabilities net of other assets excluding the technical
Income earned on investments is allocated to revenue
funds relating to pool accounts. Shareholders' Funds are
accounts and profit and loss account on the basis of funds aggregate of funds available to the Company's Shareholders
available from policyholders and shareholders and are i.e Share Capital and Reserves & Surplus.
further allocated to the lines of business in proportion to their
respective gross written premium. Investment income arising from pool accounts is allocated
directly to respective Revenue Accounts.
Investments pertaining to policyholders and shareholders
funds are segrgated on notional basis as per IRDAI Circular 21.Shriram General Insurance Company Limited
No. IRDA/F&A/CIR/CPM/010/01/2017 dated 12th January, In terms of IRDAI Circular No. IRDA/F&A/CIR/CPM/056/03/
2017. 2016 dated 4th April, 2016, income earned from
investments, deposits with banks and gain or loss on sale of
19.Reliance General Insurance Company investments is allocated to the revenue account and profit
Limited and loss account on the basis of actual holding of the

Investment assets are bifurcated into Poicyholders' and investments for policyholders and shareholders and are
further allocated to the lines of business in proportion of
shareholders' funds on notional basis as prescribed by the
gross written premium.
authority. Policyholders's fund represent amount equivalent
to sum of Outstanding Claims (including IBNR and IBNER),
The Company has segregated investments into
Unexpired Risk Reserves, Premium Deficiency, Catastrophe
Reserve and Other liabilities net off other assets as specified Shareholders' Funds and Policyholders' Funds at the security
level in compliance with Circular No. IRDA/F&A/CIR/CPM/
by the authority and the balance being disclosed as
056/03/2016 dated 4th April, 2016.
shareholders funds.
22.Star Health and Allied Insurance Company
Investment income has been allocated between revenue
accounts and profit and loss account in the ratio, an Limited
investment asset bifurcated between policyholders and Investments that are earmarked, are allocated separately
shareholder funds. Further, investment income between for policyholder's or shareholder's as applicable: Balance
policyholder's is allocated on the basis of the ratio of average investments are segregated at Shareholder's and
policyholder's funds comprising reserves for unexpired risks, Policyholder's level notionally based on policyholder's funds
IBNR, IBNER and Outstanding Claims. and shareholder's funds at the end of the period as
prescribed by IRDAI.
20.Royal Sundaram General Insurance
Investment income has been allocated on the basis of the
Company Limited ratio of average policyholders investments to average
Investments though not so separately classified in the shareholders investments, average being average of balance
accounts, are identified on aggregate basis with the at the end of the year and at the beginning of the year.

The Insurance Times, April 2022 35