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INSURANCE INSTITUTE O F I N D I A

Annual Report & Accounts 2010-11


CONTENTS

Sr. No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17.

Page No. Past Presidents & Past Secretaries .............................................................................. 2 The Institute ................................................................................................................... 3 Officers of The Institute ................................................................................................. 5 Members of Various Committee .................................................................................... 6 Report of The Council .................................................................................................. 11 Report of The Board of Education ............................................................................... 15 Auditor's Report ........................................................................................................... 20 The S.K. Desai Memorial Gold Medal & Prize ............................................................ 47 D. Subrahmaniam Award Essay Writing Competition ................................................. 50 Technical Papers ......................................................................................................... 52 Best Institute Prizes ..................................................................................................... 55 Associated Institutes - Life Membership 31/03/2011 ................................................... 58 Fellows Elected During The Year 2010-2011 .............................................................. 62 Associates Elected During The Year 2010-2011 ......................................................... 67 Statement of Reimbursement For General & Educational Activities & Library Made to The Associated Institutes .................................................................. 74 Statement of Reimbursement of Computer Subsidy to The Associated Institutes ............................................................................................ 75 Annual Conferences .................................................................................................... 76

INSURANCE INSTITUTE OF INDIA


PAST PRESIDENTS
C.R.C. Gardiner, O.B.E.,J.P.,F.I.I.I. (New Zealand Ins. Co. Ltd.) T.K. Desai, B.A., L.B., F.I.I.I. (New Zealand Ins. Co. Ltd.) B.K. Setalvad, F.I.I.I (Ruby General Ins. Co. Ltd.) M.G. Modi, F.I.I.I (The New Great Ins. Co. Ltd.) K. Balasubrahmanyam, B.Com., F.C.A., F.I.I.I (Life Ins. Corporation of India) B.C. Rakshit, B.A., L.L.B., A.C.I.I., F.I.I.I (National Fire & Gen. Ins. Co. Ltd.) G.H. Thakore, M.A.(Contab), F.I.I.I (Life Ins. Corporation Of India) S.K. Desai, B.A., L.L.B., F.I.I.I (India Re-Ins. Copn. Ltd.) V.H. Vora, B.Sc., F.I.A., F.I.I.I (Life Ins. Corporation of India) S.D. Srinivasan, M.A., F.I.A. (Life Ins. Corporation of India) M.N. Seth, M.A., C.A.I.B., F.R.E.S., F.I.I.I (Sterling General Ins.Co.) V.H. Vora, B.Sc., F.I.A., F.I.I.I (Life Ins. Corporation of India) D. Hammond Giles, M.B.E., F.C.I.I., F.I.I.I (Alliance Assu. Co. Ltd.) K.L. Gupta, M.A., F.I.A., F.I.I.I (Life Ins. Corporation of India) T.P. Panthakey, M.I.E.T., F.C.I.I., F.I.I.I (New Zealand Ins. Co. Ltd.) R.M. Mehta, B.Sc., F.I.A., F.I.I.I (Life Ins. Corporation of India) K.P. Modi, B.Com., B.L., A.I.I.I (National Ins. Co. Ltd.) S. Rangarajan, M.A., F.I.A., F.C.I.I., F.I.I.I. (Life Ins. Corporation of India) R.K. Daruwalla, B.Com., F.I.A., F.I.I.I (General Ins. Corporation of India) J.R. Joshi, M.Sc., F.I.A., F.I.I.I (Life Ins. Corporation of India) S.P. Gupta, M.Com., F.C.I.I., F.I.I.I. (General Ins. Corporation of India) A.S. Gupta, M.A., F.I.A., F.F.A, F.I.I.I. (Life Ins. Corporation of India) R.V. Madhava Rao, B.A., M.L., F.C.I.I., F.I.I.I (General Ins. Corporation of India) M.G. Diwan, M.Sc., F.I.A, F.I.I.I, F.A.S.I. (Life Ins. Corporation of India) S.K. Seth, B.Sc., F.C.I.I., F.I.I.I. 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 & 1965 1966 1967 1968 1969 (New India Ass. Co.Ltd.) G. Chidambar, M.A., A.I.A, A.I.I.I. (Life Ins. Corporation of India) A.S. Mitra, B.A., A.C.I.I., A.I.I.I. (General Ins. Corporation of India) S.P. Subhedar, B.A., A.I.A., A.I.I.I., F.A.S.I. (Life Ins. Corporation of India) Y.D. Patil, B.A.(Hon), D.B.M., F.C.I.I, F.I.I.I. (New India Ass. Co. Ltd.) R.N. Tripathi, M.A.(Eco.), M.Com., L.L.B. (Life Ins. Corporation of India) D. Sengupta, B.Sc., PGDM (General Ins. Corporation of India) G. N. Bajpai, M.Com, LLB (Life Insurance Corporation of India) R. Beri, MBA (International Marketing) (New India Assu. Co. Ltd.) A.K. Shukla (Life Insurance Corporation of India) & 1988-89 1989-90 & 1990-91 1991-92 & 1992-93 1993-94 & 1994-95 1995-96 & 1996-97 1997-98 & 1998-99 1999-2000 & 2000-2001 2001-2002 & 2002-2003 2003-2004 & 2004-2005 2005 (Resigned in Oct'06) R. K. Joshi From (General Ins. Corporation of India) Nov'2006 Could not complete the 2 year term due to death T. S. Vijayan 2007-08 (Life Ins. Corporation of India) & 2008-09

CURRENT PRESIDENT
1970 1971-72 & 1972-73 1973-74 1974-75 1975-76 1976-77 1977-78 & 1978-79 1979-80 1980-81 1981-82 & 1982-83 1983-84 & 1984-85 1985-86 & 1986-87 1987-88 Dr. P.C. Poojari, B.A., L.L.B., A.I.I.I., D(Ins. Ed), U.S.A. S. M. Dhakars, B.Com., F.I.I.I. S. J. Gidwani, B.A., L.L.B., A.I.I.I. 1979-91 1991-95 1995-2010 M. Ramadoss (New India Assu. Co. Ltd.) From 16th Sept, 2009

PAST SECRETARIES
P.R. Krishnaswamy, A.I.I.I. S.L. Bhoraskar, B,Sc., M.A., L.L.B., A.C.I.I. A.I.I.I., N.B. Oza, B.A.(Hons) M.N. Mitra, M.A., B.Com., F.C.I.I., F.I.I.I. V.K. Sarma, M.A., L.L.B., F.I.I.I. 1955 1956-66 1967-72 1972-75 1975-79

PAST SECRETARY- GENERALS

CURRENT SECRETARY- GENERAL


Sharad Shrivastva, B.A., A.I.I.I. From 1st Feb, 2010

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ANNUAL REPORT & ACCOUNTS 2010-11

THE INSTITUTE
The Insurance Institute of India (formerly known as the Federation of Insurance Institutes) was established in 1955 for imparting Insurance education and training in India. The Institute is specially supported by six corporate members - The Life Insurance Corporation of India, the General Insurance Corporation of India, National Insurance Company Limited, New India Assurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company Limited. There are 91 Associated Institutes across India. Sri Lanka Insurance Institute and Royal Insurance Corporation of Bhutan Limited are affiliated members of the Institute. The Institute conducts Licentiate, Associateship and Fellowship examinations covering more than 50 subjects. These examinations are conducted in India at more than 100 centres and in abroad at 18 centres. The Institute is examining body for conducting pre recruitment test for Insurance Agents on behalf of Insurance Regulatory and Development Authority. The institute conducts pre-licensing exam for surveyors on behalf of Insurance Regulatory and Development Authority. Insurance Institute of India is recognized by Insurance Regulatory and Development Authority as a training center for pre/renewal licensing training for Brokers and Corporate Insurance Executives of Corporate Agents. The Institute is a member of the Institute for Global Insurance Education (IGIE) co-founded by American institute of Chartered Property and Casualty Underwriters (U.S.A.), Chartered Insurance Institute (U.K.) and the Insurance Institute of Canada. The membership of the Institute is through its Associated Institutes. At present the membership strength is more than 2,30,000. There are more than 32,000 Associates and 14,000 Fellows of Insurance Institute of India. Approximately 65,000 candidates register for examination annually. College of Insurance, the training arm, of Insurance Institute of India is recongnised by the Government of India as an Institution of higher learning in Insurance. College campus has lecture halls equipped with modern technological aids, Single occupancy AC hostel rooms with TV and Internet facility, Library, Gymnasium and Cafeteria. Besides conducting scheduled calendar programmes College also offer customized training solutions to the corporate clients. The American Institute for Chartered Property Casualty Underwriters, U.S.A. grants 3 exemptions in their prestigious CPCU designations to the Fellows (Non-Life) of Insurance Institute of India. 3

INSURANCE INSTITUTE OF INDIA


The Chartered Insurance Institute, London grants 120 credits to the Associates and 210 credits to the Fellows of Insurance Institute of India in their ACII programme which requires 290 credits. Life Office Management Association, U.S.A. grants 3 exemptions in their FMLI designation to the Fellows (Life) of Insurance Institute of India. Insurance Institute of Canada grants 3 exemptions to Associates and 4 exemptions to fellows of Insurance Institute of India in their CIP Programme consisting of 10 subjects. The Institute encourages research by floating essay writing competitions. The Institute is governed by the Council consisting of 59 members. Decisions on educational matters are taken by the Board of Education. The Institute's registered office is located at Mumbai and is registered under the Societies Registration Act, 1860 as a non-profit organization.

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SECRETARY-GENERAL Sharad Shrivastva SECRETARIES B.V. Chavan C.S. Nair N.T. Ghonge V.S. Shenoy P. Mehta DEPUTY SECRETARY B.S. Rathaur ASSISTANT SECRETARIES S.N. Gandhi J. Noronha A.G. Salian E.D'souza S. Badrinarayanan V.N. Kokare B.V. Vaidya T.S. Jagavkar

ANNUAL REPORT & ACCOUNTS 2010-11

OFFICERS OF THE INSTITUTE (As on 31st August, 2011)


ADMINISTRATION OFFICER P.N. Gogia U.A. Dandekar M.G. Sarang D.S. Tuscano K.P. Sant M. S. Raikar S.A. Poojary V.R. Sawant N.K. Dabhoya D.V. Govekar C.M. Raikar S.P. Shinde M.M. Satam

COLLEGE OF INSURANCE
DIRECTOR - ACADEMICS P.K. Rath Dr. G.E. Thomas- Associate Professor Dr. Bharti Kamath- Associate Professor DEPUTY SECRETARY N.D. Kokare ADMINISTRATION OFFICER J.P. Salian ADMINISTRATIVE OFFICE & COLLEGE OF INSURANCE 'G' Block, Plot No. C-46, Bandra-Kurla Complex, Mumbai-400051. 5

INSURANCE INSTITUTE OF INDIA

MEMBERS OF VARIOUS COMMITTEE (As on 31st March, 2011)


Shri M. Ramadoss - President Shri M.G. Diwan - Advisor to the President Shri T.S. Vijayan - Immediate Past President Shri M. Raghavendra - Dy. Chairman (Board of Education) COUNCIL MEMBERS - CORPORATE Dr. D. Bhargava, Chief Manager, National Insurance Co. Ltd., Dr. R.K. Kaul, CMD, The Oriental Insurance Co. Ltd. Ms Poonam Bodra, Principal, ZTC, LIC of India Ms. Philomina Thomas, Principal, ZTC, LIC of India Shri Sujay Banarji, G.M., GIC of India Shri S K. Chanana, Director & G.M, The Oriental Insurance Co. Ltd. Shri N.S.R. Chandraprasad, CMD, National Insurance Co. Ltd. Shri A.K. Dasgupta, M.D., LIC of India Shri T T. Kabui, Principal, ZTC, NCZ, LIC of India Shri Milind A. Kharat, Director & G.M., United India Insurance Co. Ltd. Shri Niraj Kumar, G.M., The Oriental Insurance Co. Ltd. Shri Yogesh Lohiya, CMD, GIC of India Shri Thomas Mathew T., M.D., LIC of India Shri D. K. Mehrotra, M.D., LIC of India Shri S.P. Nanda, Dy. GM., United India Insurance Co. Ltd. Shri K.V. Pathak, Dy. G.M., National Insurance Co. Ltd. Shri A.K. Roy, G.M., GIC of India Shri K.B. Saha, E.D.(HRD/OD & CP), LIC of India Shri B N Samal, Principal, ZTC, SCZ, LIC of India Shri K. Sanath Kumar, G.M., New India Assu Co. Ltd Shri A.R. Sekar, Director & G.M. & Financial Advisor, New India Assurance Co. Ltd. Shri R G. Shinde, Principal, ZTC, LIC of India Shri V J. Singh, Principal, ZTC, LIC of India Shri G. Srinivasan, CMD, United India Insurance Co. Ltd. Shri D. Tarafdar, Principal, ZTC, LIC of India Shri Dilip Ticku, Principal, ZTC, LIC of India Smt S. Choudhury, Director, MDC, LIC of India Smt D. Vijayalakshmi, E.D. (Personnel), LIC of India
In Alphabetical Order

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ANNUAL REPORT & ACCOUNTS 2010-11

COUNCIL MEMBERS - REPRESENTING Shri Sanjay Solanki Agra Insurance Institute Shri M K Desai Ahmedabad Insurance Institute Shri B S Mandawaria Ajmer Insurance Institute Shri Kapileshwar Banerjee Asansol Insurance Institute Shri S N Deshpande Aurangabad Insurance Institute Shri D C Chaturvedi Bhopal Insurance Institute Shri K Vijayachandran Calicut Insurance Institute Shri B Prasad Coimbatore Insurance Institute Shri Subodh Sharma Delhi Insurance Institute Shri V S Kulkarni Dharwad Insurance Institute Shri T K Sadasivan Ernakulam Insurance Institute Shri Nudurupati Ayyapparaju Guntur Insurance Institute Shri P J Paranjyothi Hyderabad Insurance Institute Shri Sudipto Sarkar Indian Insurance Institute Shri Sanjay Ghosh Indian Insurance Society Shri H C Katariya Indore Insurance Institute Shri P C Sharma Jaipur Insurance Institute Shri U P Singh Lucknow Insurance Institute Shri Shirish V. Jadhav Mumbai Insurance Institute Shri K Srinivasan Mysore Insurance Institute Shri M H Shaikh Pune Insurance Institute Shri N Jagannath Rao Raipur Insurance Institute Shri Kodanda Ram Rajahmundry Insurance Institute Shri K Senthil Kumar Salem Insurance Institute Shri N. Babu Thanjavur Insurance Institute Kum I Latha Trivandrum Insurance Institute Shri K B Chandramohan Udupi Insurance Institute Shri DVVS Vara Prasad Vijayawada Insurance Institute Shri AVRK Murty Visakhapatnam Insurance Institute

INSURANCE INSTITUTE OF INDIA


NON-VOTING COUNCIL MEMBERS - REPRESENTING Shri Brijesh Kumar Srivastva Aligarh Insurance Institute Shri C A Chandrashekhar Bangalore Insurance Institute Shri A K Jayateerth Belgaum Insurance Institute Shri Manish N Dave Bhavnagar Insurance Institute ----Not Provided---Bhilai Insurance Institute Shri Biswajit Das Dhubri Insurance Institute Shri Brijesh Nariyal Haldwani Insurance Institute Shri Kamal Kishore Vyas Jodhpur Insurance Institute Shri S B Katre Kolhapur Insurance Institute Shri M J Verghese Kottayam Insurance Institute Shri K Chandra Sekhar Machilipatnam Insurance Institute Shri G M Satheesh Kumar Madurai Insurance Institute Shri C Yogidhas Nagercoil Insurance Institute Shri Saurabh S Subhedar Nagpur Insurance Institute Shri Ravi Muley Nanded Insurance Institute Shri V Chandrasekhara Sarma Nellore Insurance Institute Shri R Marimouthou Pondicherry Insurance Institute Shri Rajnikant T. Kanabar Rajkot Insurance Institute Shri Mohd. Hakkani Khan Shahdol Insurance Institute Shri Parth Chakraborty Silchar Insurance Institute Shri Lalit Kishore Parakh Udaipur Insurance Institute Shri Dinesh Kumar Utkal Insurance Institute Shri PVS Prasad Warangal Insurance Institute

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ANNUAL REPORT & ACCOUNTS 2010-11

MEMBERS OF THE BOARD OF EDUCATION Shri T. Chattopadhyay, E.D., (Marketing), LIC of India Shri D.C. Chaturvedi, Bhopal Insu Institute Shri Praveen Gupta, CEO, Raheja QBE Gen. Insu Co. Ltd. Shri Jagpal Randip Singh, Joint Director (NL), IRDA- Nominee of IRDA Shri P.C. James, G.M., United India Insu Co. Ltd Shri K. Sanath Kumar, G.M., New India Assu Co. Ltd Shri Niraj Kumar, G.M., The Oriental Insu Co. Ltd. Shri M. Manmadha Rao, Visakhapatnam Insu Institute Ms T.T. Mathew, E.D., (New Projects) / CPIO, LIC of India Shri S.B. Mathur, Secretary General, Life Insu Council Shri S.L. Mohan, Secretary General, General Insu Council Dr. Prathap Oburai, Director, National Insu Academy Shri G.V. Nageswara Rao, M.D. & CEO, IDBI Federal Life Insu Co. Shri P. Rajeshwar Rao., Sr. Faculty, IIRM Shri S. Yugandhar Rao, G.M., National Insu Co. Ltd. Ms Gopa Ray, E.D. (Inspection), LIC of India Shri A. K. Roy, G.M., GIC of India Shri K.B. Saha, E.D. (HRD/OD & CP), LIC of India Shri Thomas Mathew T., M.D., LIC of India MEMBERS OF THE EXAMINATIONS COMMITTEE Shri M. Raghavendra, Dy. Chairman (Board of Education) Mrs T. Alamelu, Dy. General Manager, United India Insurance Co. Ltd., Shri Judhajit Das, Chief HR, ICICI Prudential Life Insurance Co. Ltd., Mrs Gowri Jayaraman, Head Commercial, ICICI Lombard General Insurance Co. Ltd., Mrs Malthi Narsimhan, Chief Operating Officer, SBI Life Insurance Co. Ltd. MEMBERS OF THE SYLLABUS REVIEW COMMITTEE Shri S. Balachandran Shri V.H.P. Pinto Shri M. Raghavendra - Dy. Chairman (Board of Education) Shri G.V. Rao - Ex. CMD, Oriental Insurance Co. Ltd. Shri A.K. Shukla - Ex. Chairman, LIC of India Shri K. Sridhar - Ex. M.D., LIC of India

INSURANCE INSTITUTE OF INDIA


MEMBERS OF THE ADVISORY COMMITTEE FOR COLLEGE OF INSURANCE Shri B.D. Banerjee, Ex. CMD, Oriental Ins. Co. Ltd. Dr. V. Hariharan, Regional Manager, The New India Assu. Co. Ltd., Shri R. L. Narsimhan, Ex.MD & CEO, IDBI Trusteeship Services Ltd., Dr. Prathap Oburai, Director, NIA Shri K.B. Saha, ED, (HRD/OD & CP), LIC of India MEMBERS OF THE PUBLICATION COMMITTEE Shri P. K. Rath, Director, College of Insurance Dr. Shashidharan Kutty, Dr. George Thomas, Associate Professor, College of Insurance MEMBERS OF ADMINISTRATION COMMITTEE Shri S. K. Chanana, Director & G.M., The Oriental Insurance Co. Ltd. Shri Prodip Dutta, Indian Insurance Institute, Kolkata Shri S.B.L. Gour, G.M., New India Assurance Co. Ltd. Shri Milind A. Kharat, Director & G.M., United India Insurance Co. Ltd. Shri B.Manivannan, E.D.(IT/BPR), LIC of India Shri N. Mohanraj, E.D.(Invst./Operations), LIC of India Shri A. K. Roy, G.M., GIC of India Shri A.K. Sahoo, E.D.(Mktg: B&AC), LIC of India Shri U.P. Singh, Lucknow Insurance Institute Shri C.P.R. Varma, G.M., National Insurance Co. Ltd. Smt, S.P. Sukumar, E.D. (U&R), LIC of India Smt. D. Vijayalakshmi, E.D. (Personnel), LIC of India MEMBERS OF THE AUDIT COMMITTEE Shri R. Raghavan, G.M., GIC of India Shri R.B.L. Vaishya, Shri M. Raghavendra, Dy. Chairman (Board of Education)

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REPORT OF THE COUNCIL
ANNUAL CONFERENCE

ANNUAL REPORT & ACCOUNTS 2010-11

The Annual Conference of the Insurance Institute of India was held on 4th and 5th September, 2010 at Visakhapatnam under the auspices of Visakhapatnam Insurance Institute. The conference was inaugurated by Prof. Y. Satyanarayana, Vice-Chancellor of AP Law University. The President welcomed Chief Guest, Council Members, Secretaries of Associated Institutes and other dignitaries to the annual conference. He applauded the achievements of Institute during the year gone by. He emphasized the need for the Institute to move from mere Examining Body to total education provider for the Insurance sector. The chief guest Prof. Satyanarayana in his inaugural speech complimented Insurance Institute of India and Visakhapatnam Insurance Institute for their contribution towards the cause of insurance education. In his speech he mentioned, during the period of high growth after opening of the sector, the role of institutions like Insurance Institute of India has increased. He reminded Insurance sector of its responsibility in improving the life of millions of people. Shri M. Ramadoss in his Presidential address conveyed his thanks to the Chief Guest for accepting the invitation to inaugurate the Conference. ESSAY WRITING COMPETITION FOR THE YEAR 2009: The prizes for S.K. Desai Memorial essay writing competition, D. Subrahmaniam essay writing competition, Technical Paper Competition (Life and General insurance category) were distributed at the hands of Chief Guest. Prize winners were: Ms. Teena Makhija Member of Delhi Insurance Institute, S.K. Desai Memorial Essay writing prize - Topic "Banc assurance - Some Reflections" Shri Dilpreet Singh Member of Amritsar Insurance Institute, D. Subrahmaniam Essay Writing prize, - Topic "A Study on the Development Health Insurance - Its History, Current Scenario & the Future Prospect in India." Shri Nirjhar Majumdar Member of Indian Insurance Institute, Kolkata, Technical Paper Competition (Life Category) prize, - Topic "How to increase Life Insurance Penetration in the next decade-Innovation Techniques, Channels of Design & Products". Ms. R. Sujatha, Member of Madras Insurance Institute, Chennai For Technical Paper Competition (General Category) prize - Topic "Relevance of Enterprise Risk Management".

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INSURANCE INSTITUTE OF INDIA


ASSOCIATED INSTITUTES WERE ALSO AWARDED PRIZES FOR. BEST INSTITUTE Indian Insurance Institute Kolkata, Indian Ins. Society, Kolkata, Utkal, Kottayam , Rajahmundry, Ahmadabad, Indore, Bhopal, Udaipur, Lucknow, Calicut, Ajmer, Nagercoil, Thanjavur and Bhavnagar insurance institutes. INCREASING LIFE MEMBERSHIP PRIZES Delhi, Hyderabad, Bhopal, Aligarh, Mumbai, Bangalore, Calicut, Bhavnagar, Hazaribag, Jodhpur, Kolhapur, Kottayam, Nagercoil, Rajkot, Udaipur, Varanasi and Visakhapatnam insurance institutes. TECHNICAL SESSION Dr. Somil Nagpal, Health Specialist, World Bank, New Delhi presented his paper on "Evolution and Development of Health Insurance in India". Dr. Nagpal is an M.B.B.S., MBA in Financial Management, MHA-Health Care Management from Tata Institute of Social Sciences and Fellow of the Insurance Institute of India. He has been involved with the India Health Insurance sector even during his earlier assignment with IRDA. The presentation was followed by discussion on the subject Smt. Teena Makhija, presented highlights of her award winning paper of S.K. Desai Memorial essay writing competition on the importance of Banc assurance. Sri Dilpreet Singh, winner of the D. Subrahmanyam Award essay writing competition presented highlights of his paper on the development of health insurance - its history, current scenario & future prospects in India. Sri Nirjhar Majumdar, winner of Technical Paper Competition (Life Insurance) presented highlights of his paper on increasing life insurance penetration in the next decade. The presentations were followed by discussions. BUSINESS SESSION The highlight of the Business session on 5th September 2010 was approval of Continuous Professional Development Programme as a concept. COUNCIL MEETINGS The council meetings were held during the year on 5th September, 2010 at Visakhapatnam and on 5th February, 2011 at Kolkata. Both the council meetings were participative and well attended. ADMINISTRATION COMMITTEE Meetings of Administration Committee were held on 3rd April, 2010, 31st July, 2010 and 8th 12

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ANNUAL REPORT & ACCOUNTS 2010-11

January, 2011 during the year. Some of the major decisions were pertaining to increase in subsidy to associated institutes, increase in prize amounts for best Institutes, a scheme of sharing of expenses for specific activities e.g. Seminars, Research etc was also started. The fees for examination and honorarium for different responsibility was revised. During the year Insurance Institute of India shifted to it own building at Bandra-Kurla Complex. The Building was inaugurated by Hon. Finance Minister of India, Shri Pranab Mukherjee on 8th June, 2010. Shri Ashok Chavan, Chief Minister , Maharashtra, Shri J. Harinarayan, Chairman, IRDA and Shri R. Gopalan, Finance Secretary were Guest of Honour. LIFE MEMBERS The number of life member as on 31-03/2011 was 2,39,770 as against 2,34,693 in previous year showing growth of 2.16% in membership. 790(Seven hundred and ninety) Fellows and 1399 (one thousand three hundred and ninety nine) Associates were elected during the year, raising the total number of Fellows to 14067 (last year 13277) and Associates to 34755 (last year 33356). FINANCE AND INVESTMENT The audit committee meeting were held on 29th July, 2010, 11th August, 2010, 4th January, 2011, 26th April, 2011 and 25th June, 2011 during the year. The audit committee provided invaluable guidance for streamlining accounting, finances and investment of the Institute. Total Income of Institute during the year was eighty three crore, fifty three lakhs (previous year: one hundred forty six crore twenty one lakhs) showing a reduction of sixty two crores and sixty eight lakhs. The addition to Corpus during the year was fifty seven crores (previous year: one hundred twenty three crores) showing a reduction of ` sixty six crores. The reduction in the Income was due to reduction in Fee Income and sale of study course for Agents Examination. Investments of the Institute stood at more than five hundred sixty five crore as against last year's five hundred and nine crore showing an increase of 11.11% REIMBURSEMENT OF EXPENSES TO THE ASSOCIATED INSTITUTES In order to organize and conduct various educational, training, publication and other activities effectively, financial assistance by way of reimbursement of expenses is extended to the associated institutes according to the performance. During the year reimbursement to the extent of ` 7,72,371/- was made to 53 associated institutes. In order to assist the associated institutes to build up their libraries and enhance services to the members, a further sum of ` 44,180/- was sanctioned to 16 associated institutes.

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INSURANCE INSTITUTE OF INDIA


SUBSIDY The subsidy to 75 Associated Institutes for the year 2008- 2009 to the tune of ` 24,22,115/was released. The subsidy to 71 Associated Institutes for the year 2009-2010 amounting ` 27,07,074/- was released. COMPUTER SUBSIDY During the year computer subsidy was given for ` 4,03,680/- to 17 associated institutes. ACKNOWLEDGEMENT The Council is grateful to IRDA, LI council, GI Council and all the insurance companies, members of the Administration Committee, Audit Review Committee, Board of Education and various sub-committees, the office-bearers and other members of the associated institutes for their guidance and co-operation in promoting and organizing the activities of the Institute effectively. The Council also thanks the officers and staff of the Institute and the College of Insurance for their whole-hearted co-operation in the smooth conduct of the affairs of the Institute.

Sd/M. Ramadoss President

Sd/Sharad Shrivastva Secretary-General

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ANNUAL REPORT & ACCOUNTS 2010-11

REPORT OF THE BOARD OF EDUCATION


During the financial year 2010-11, one meeting of the Board of Education was held on 29th October 2010. Professional Examinations: The brief statistical data of Professional Examinations held during the year are as follows: For the May and October 2010 examination 1,56,764 subject-wise entries were received in III's various professional examinations, of which 72,217 for Licentiate, 57,437 for Associate and 22,892 for Fellowship Examinations. The actual appearances were for 96,349 papers, approximately 61.47% i.e. 49,727 for Licentiate, 31,699 for Associate and 12,001 for Fellowship. Total 48,120 candidates passed in all the papers put together, average pass percent of 49.94%, 28,321 passed in Licentiate, 13,166 in Associate and 5,795 in Fellowship. College of Insurance: The Advisory Committee of the College of Insurance had its Meeting on 13th November 2010. Activities of in College of Insurance during the year are as follows: A) B) The College conducted 48 sessions during the year and 1335 trainees participated. Learning Management System: III launched a Learning Management System (LMS) (e-learning programme) on 6th April, 2011 for benefit of students enrolled for Licentiate course. E-learning is essentially a computer based learning programme with self-paced learning modules allowing learners to study wherever they have access to computer and internet. Learners have flexibility to join discussions in the bulletin board or through threaded discussions at any hour. They are also given the facility to get doubts cleared on any of the topics with the course mentors on blogs and emails. III has developed this e-learning platform with the help of technology partner Learning Mate. Integrated testing engine, quick redressal to the student queries and collaborative learning are some of the features embedded in the system which will definitely help the students to assimilate the subject well and to succeed in the examination. At present all the four subjects of Licentiate examination are available on this e-platform and once students enrolled for the Learning Management System (LMS) he/she is provided with a unique id which is valid of six months. Students get access to the contents of all the subjects of Licentiate examination. In the next phase, contents for the subjects related to Associateship and fellowship course would be made available on this platform. Since the date of launching i.e. 6th April, 2011 till now, around 100 candidates have registered for LMS and this number is likely to increase further. We have identified two mentors, one each for Life Insurance and General Insurance who will help the students to solve their queries and will also initiate discussions on various topics related to insurance through Blogs.

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INSURANCE INSTITUTE OF INDIA


Upgradation of Syllabus: During the financial year 2010-11, one meeting of the Syllabus Upgradation Committee was held on 12th October 2010. Major, decision of the Syllabus Upgradation Committee are as follows: A) Specialized Diploma A Specialized Diploma course in Marine Insurance (5 Subjects) was introduced during the year 2010-11. Two Specialized Diploma courses - (i) Fire Insurance (5 subjects) and (ii) Foundation of Casualty Actuarial Science (6 Subjects) were approved, and it will be introduced from October 2011 Examination. B) Revision of Study Courses: Three study courses of Licentiate level; eleven of Associateship and two of Fellowship have been revised: (A) 1. 2. 3. (B) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. (C) 1. 2. Licentiate IC01 Principles of Insurance IC02 Practice of Life Insurance IC11 Practice of General Insurance Associateship IC23 Application of Life Insurance IC24 Legal Aspects of Life Insurance IC56 Fire Insurance Claims IC57 Fire and Consequential Loss of Insurance IC66 Marine Insurance Claims IC67 Marine Insurance IC71 Agricultural Insurance IC72 Motor Insurance IC74 Liability Insurance IC77 Engineering Insurance IC78 Miscellaneous Insurance Fellowship IC85 Reinsurance Management IC86 Risk Management 16

55th
C) 1. 2. 3. 4. 5.

ANNUAL REPORT & ACCOUNTS 2010-11

New Study materials: A new study course, IC14 'Regulation of Insurance Business' was introduced for Licentiate. Five study courses have been added to Associateship, viz. IC27 Health Insurance (Associateship) IC45 General Insurance Underwriting (Associate Non-Life) IC46 General Insurance Accounts preparation & Regulation of Investment (Associate Non-Life) IC68 Marine Insurance Coverages and IC69 Marine Insurance Rating and Underwriting.

Translation: It was generally decided that III should attempt to make its basic level courses available in all languages spoken by more than 1% of the country's population. As the first step, all the study courses of Licentiate and all the above new and revised courses of Associateship were translated and printed in Hindi. Seminars: In keeping with the decisions of the Council, three National Seminars were conducted. The first was by Ernakulam Insurance Institute on 11th December 2010 on the topic 'Evaluation of TPAs in Health Insurance'. This was followed by Calicut Insurance Institute, which evaluated 'A Decade of Liberalized Insurance Industry' on 24th February 2011. On 9th March 2011 Udaipur Insurance Institute conducted a Seminar covering two topics 'Career Opportunities' and 'Business Environment in Insurance Industry'. Four Seminars were conducted at the local level as well. Coimbatore Insurance Institute conducted a Seminar on 21st December, 2010 covering three topics - 'Thodar vetrikalai kuvipom varungal', 'Day to day Changes in Insurance Industry' and 'Importance of Club Membership and its Rules'. Aligarh Insurance Institute conducted a Seminar reviewing 'Insurance Products and Customer Expectations' on 22nd January 2011. Another Seminar on the topic 'General Awareness about Insurance' was conducted by Rajkot Insurance Institute on 11th March, 2011. The latest in the series was conducted on 15th March, 2011 on the subject 'Liability Insurance' by Indian Insurance Society, Kolkata. III Journal: III suffered a great loss when Mr. V.H.P. Pinto, Editor and major architect of 'the Journal' lost his life in June-2011. The July-December 2010 issue was the first theme based Journal of III on the theme "Life Insurance - issues in the millennial decade". The theme for the January-June 2011 was "New Vistas in Health Insurance". The Journal has an Online Circulation of 400 copies and an Offline Circulation of 7000 copies

17

INSURANCE INSTITUTE OF INDIA


and has become part of the Online Network of Journals. III Weekly Newsletter: A new weekly publication - 'III E-Newsletter' has been started. 'III ENewsletter' essentially compiles news related to Insurance industry, regulation, health insurance, reinsurance, customer service and related topics and sends it by email to around 24,000 members of III. III Library: The library has been setup at BKC Complex premises and all the library services have been automated. Around 3500 books have been arranged as per library classification codes. Around 1000 books have been added during the year. Subscriptions have been made to 40 national & international journals as well. Information Databases have been purchased from Centre for Monitoring Indian Economy (CMIE). The Library has subscribed to 'EBSCO', an Online Journal service that gives access to more than 2000 national and international Journals. Social Networking: III's page has been created on 'Facebook'. Response is encouraging as there is quite some (around 800 users) activity among insurance professionals on this website, including news/ event updation, interactions and discussions. III's presence and interactions have been initiated on 'Linked In' website as well. Interactions with CPCU: Mr. Saul Swartout, Executive Vice President, Operations from 'The Institutes' (Chartered Property Casualty Underwriters) of USA visited III. CPCU also gifted to the Library a set of 61 books on the occasion of the inauguration of III's new premises. It is worth mentioning that all these 61 books were specially printed by CPCU with III' name and logo on every page. Our sincere appreciation and thanks to CPCU Management. Accredited Learning Centres (IIIALC): During the year, the Advisory Committee for College of Insurance (at its meeting held on 13th November 2010) approved eleven Accredited Learning Centers, viz. 1. 2. 3. 4. 5. 6. 7. 8. HRD Foundation - New Delhi, Insurance Academy - North East -Guwahati, PIRENS Insurance Institute - Ahmednagar, Siddharth College of Insurance - Nagpur, Insurance Academy - Pune, Usha Deep Insurance and Management Services Pvt. Ltd - Lucknow, RNIS College of Insurance - Mumbai, Udaipur Insurance Institute - Udaipur,

18

55th
9. Indian Insurance Institute - Kolkata, 10. Delhi Insurance Institute - Delhi and 11. Bhopal Insurance Institute - Bhopal.

ANNUAL REPORT & ACCOUNTS 2010-11

Visit to Nigerian Delegation: A 32 member delegation comprising CEOs and other senior officials of the Nigerian Insurance Industry visited India from 22nd October, 2010 to 31st October, 2010. The delegation was received by I.I.I. Arrangements were made for interactions with I.I.I., General Insurance Council and Life Insurance Council during the 3 days of the visit. The delegation had separate interactions with National Insurance Academy. Oriental Insurance Co. Ltd. and GIC Re of India as well. The visit has strengthened ties between the two Institutions and nations. Acknowledgements: For the efficient and successful conduct of the Institute's multifarious educational, training and research programmes, the Board of Education is dependent on III's Fellows, Associates and other Members who have been giving their voluntary support, willing co-operation, guidance and assistance. The Board of Education wishes to place on record its gratitude and deep appreciation for the valuable services rendered by many insurance professionals who are continually contributing to the cause of insurance academics as visiting faculty, evaluators, question paper setters, translators, course writers, tutors, members of the various sub-committees, officers who conduct surprise inspections, office bearers of the associated institutes, employees of III and associated institutes and many others in the Insurance industry. The Board of Education wishes to record its sincere thanks to International organizations like CPCU and LOMA-LIMRA of USA, CII of UK, Actuarial Society and Insurance Institute of Canada; the Indian regulator IRDA, Governing Body of Insurance Councils, Life Insurance Council, General Insurance Council, GIPSA and Institute of Actuaries of India for their co-operation and support.

Sd/M. Ramadoss President

Sd/M. Raghavendra Dy. Chairman (B.O.E.)

19

INSURANCE INSTITUTE OF INDIA

AUDITORS REPORT
TO THE MEMBERS OF INSURANCE INSTITUTE OF INDIA 1. We have audited the attached Balance Sheet of Insurance Institute of India (Regd.) as at 31st March, 2011 and also the Income and Expenditure Account for the year ended on that date annexed thereto as required by Sub-Section (4) of Section 12-D of the Societies Registration Act, 1860. These financial statements are the responsibility of the management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with standard on auditing generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about 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 and have to report as under: a. b. c. d. e. f. g. The accounts are maintained regularly and in accordance with the provisions of the Act and the Societies Registration (Maharashtra) Rules, 1971; To the best of our knowledge, the receipts and disbursements are properly and correctly shown in accounts; The cash balance in the custody of the concerned officer of the Institute at the year-end was in agreement with the accounts; All books, deeds, accounts, vouchers or other documents and records required by us were produced before us; An inventory of movables, duly certified by the Secretary-General of the Institute, has been maintained; The Secretary-General and Accountants appeared before us and furnished necessary information required by us; To the best of our knowledge, no part of the property or funds of the Institute were applied for any object or purpose other than the object or purpose of the Institute;

2.

20

55th
h. i. j. k. l. m.

ANNUAL REPORT & ACCOUNTS 2010-11

All expenses incurred on behalf of the Institute are being sanctioned from time to time by the governing body or any other person authorized to do so under the Rules and Regulations of the Institute; Wherever practicable, tenders/quotations were invited for jobs of repairs undertaken during the year, exceeding Rs. 5000/- in value; Minutes of the meeting of the General body, governing body and other body or committee are maintained regularly and properly; A list of members is maintained and is kept up to date; The investments of the surplus funds of the Institute have been made by the committee appointed by the council as per the rules framed by them; Certain discrepancies were observed at the time of physical verification/ confirmation of inventory as at 31st March, 2011 and the same has been properly dealt with in the books of accounts; The Institute has been exempted under Section 10(23C)(VI) of the Income Tax Act, 1961 vide order of Chief Commissioner of Income Tax, Mumbai dated 14th March, 2008 and hence Income Tax provision has not been made. The name and address of present Secretary-General of the Insurance Institute of India is: Shri Sharad Shrivastva 7, Jeevan Anand, Opp. Breach Candy, Bhulabhai Desai Road, Mumbai- 400 026. For N. M. RAIJI & CO. Chartered Accountants Firm Registration No. 108296W

n.

o.

Sd/J.M. GANDHI Partner Membership No. 37924 Place : Mumbai Dated : 2nd July, 2011

21

INSURANCE INSTITUTE OF INDIA


INSURANCE INSTITUTE OF INDIA (REGD.)
REGN. NO. BOM/129/74/G.B.B.S.D.

MUMBAI - 400 051

Balance Sheet As At 31st March, 2011


Particulars Schedule As at 31st March, 2011 ` FUNDS Funds : Corpus Fund Other Earmarked Funds & Reserve Total: PROPERTY AND ASSETS Fixed Assets : Capital Work in Progress Investments : Current Assets, Loans and Advances : Stock of Study Courses Cash & Bank Balance Advances & Deposits Interest & Discount Outstanding Receivable Current Liabilities : For Expenses For Others For Fees Received in Advance Provision for Employee's Benefit Net Current Assets Total: Significant Accounting Policies & Explanatory Notes As per our Report of even date For N. M. RAIJI & COMPANY Chartered Accountants Firm Reg. No. 108296W Sd/J. M. GANDHI Partner Membership No. 37924 Place : Mumbai Dated : 2nd July, 2011 21 3 493,208,859 493,208,859 5,657,977,629 17,401,067 5,074,814 3,968,691 174,420,302 57,891,868 258,756,742 6,826,956 64,179,125 26,384,400 8,987,315 106,377,796 152,378,946 6,303,565,434 164,485,831 278,678,842 443,164,673 5,092,000,000 24,805,099 3,549,271 2,160,062 169,223,264 65,838,684 265,576,379 8,468,842 43,684,797 13,444,508 6,089,197 71,687,344 193,889,035 5,729,053,708 1 2 6,298,565,434 5,000,000 6,303,565,434 5,345,687,344 383,366,364 5,729,053,708 As at 31st March, 2010 `

5 6 7 8

9 10

FOR INSURANCE INSTITUTE OF INDIA (REGD.) G' BLOCK, PLOT NO. C-46, BANDRA-KURLA COMPLEX, BANDRA (E), MUMBAI - 400 051 Sd/M. RAMADOSS President Sd/SHARAD SHRIVASTVA Secretary-General

22

55th

ANNUAL REPORT & ACCOUNTS 2010-11

INSURANCE INSTITUTE OF INDIA (REGD.)


REGN. NO. BOM/129/74/G.B.B.S.D.

MUMBAI - 400 051

Income & Expenditure Account For The Year Ended 31st March, 2011
Particulars Schedule For the Year Ended For the Year Ended 31st March, 2011 31st March, 2010 ` INCOME Fees Income Sale of Study Courses Subscriptions Interest & Discount Income Income from Other Sources Provision for write off/write Back Total 11 12 13 14 15 400,257,899 37,515,971 760,800 379,527,067 17,240,496 835,302,232 926,674,291 174,707,505 747,900 354,582,325 767,175 4,697,830 1,462,177,026 `

EXPENDITURE (Increase)/Decrease in Closing Stock Expenditure For Specific Objects of Institute Establishment Expenses Depreciation/Assets Written off Misellaneous Expenses Total Surplus Carried to Corpus 16 17 18 19 20 7,404,032 81,547,232 112,057,332 39,259,485 24,542,873 264,810,954 570,491,278 10,159,015 128,217,471 72,465,456 4,778,766 12,465,867 228,086,575 1,234,090,451

Significant Accounting Policies & Explanatory Notes As per our Report of even date For N. M. RAIJI & COMPANY Chartered Accountants Firm Reg. No. 108296W Sd/J. M. GANDHI Partner Membership No. 37924 Place : Mumbai Dated : 2nd July, 2011

21

FOR INSURANCE INSTITUTE OF INDIA (REGD.) G' BLOCK, PLOT NO. C-46, BANDRA-KURLA COMPLEX, BANDRA (E), MUMBAI - 400 051 Sd/M. RAMADOSS President Sd/SHARAD SHRIVASTVA Secretary-General

23

SCHEDULE - 1 INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` ` ` ` As at 31.03.2010

CORPUS FUND

Corpus Fund: 5,345,687,344 4,055,280 138,495 104,850 4,298,625 12,483,703 146,790 108,200 12,738,693 4,098,858,200

Per Last Balance Sheet

Life Membership Fees Election Fees from Associates Election Fees from Fellows

INSURANCE INSTITUTE OF INDIA

24
320,306,785 8,484,711 53,903,300

Add : Amount Transfer from Other Earmarked Funds Building Fund Investment Reserve Contigency Reserve

382,694,796 570,491,278 4,606,609 6,298,565,434 1,234,090,451 5,345,687,344

Add : Excess of Income over Expenditure

Less :Transfer to Prize Fund

TOTAL

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

SCHEDULE - 2 INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` ` ` ` As at 31.03.2010

OTHER EARMARKED FUNDS & RESERVES

Prize Fund : Per Last Balance Sheet Add: Transfer from General Fund Add: Interest Allocated 671,567 4,606,609 46,674 5,324,850 324,850 5,000,000 707,893 42,474 750,367 78,800

Less: Prizes distributed during the year

55th
671,567

25
8,484,712 8,484,712 53,903,300 53,903,300 -

Building Fund : Per Last Balance Sheet Add: Interest Allocated Less : Transferred to General Fund 320,306,785 320,306,785

298,563,263 21,743,522 320,306,785 8,484,712 8,484,712 53,903,300 53,903,300 5,000,000 383,366,364 For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

Investment Reserve : Per Last Balance Sheet Less : Transferred to General Fund

Contingency Reserve : Per Last Balance Sheet Less : Transferred to General Fund

ANNUAL REPORT & ACCOUNTS 2010-11

TOTAL

SCHEDULE - 3 INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` 153,885,096 2,047,252 151,837,844 155,932,348 2,047,252 153,885,096 ` ` ` As at 31.03.2010

FIXED ASSETS

Leasehold Land :

Per Last Balance Sheet Less : Amortisation during the year

Residential Building :

Per Last Balance Sheet Add : Additions during the year

INSURANCE INSTITUTE OF INDIA

26
203,104,139 203,104,139 16,526,556

Less : Depreciation during the year

2,217,947 82,231,491 84,449,438 3,366,362 81,083,076

2,334,681 2,334,681 116,734 2,217,947

Office Building :

Per Last Balance Sheet Add : Addition during the year

Less : Depreciation during the year

186,577,583 -

Cont......

SCHEDULE - 3 INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` ` ` ` As at 31.03.2010

FIXED ASSETS

Furniture, Fixtures and Office Equipments :

Per Last Balance Sheet Add : Additions during the year

Less : Depreciation during the year Less: Disposal 69,086,114

4,126,737 81,038,230 85,164,967 14,237,992 1,840,860

4,993,991 688,439 5,682,430 1,555,693 4,126,737

55th

Computer Systems :

27
4,256,051 1,769,071 6,025,122 1,400,879

Per Last Balance Sheet Add : Additions during the year

Less : Depreciation during the year

2,732,004 2,781,509 5,513,513 1,257,462 4,624,242 493,208,859 4,256,051 164,485,831

TOTAL

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

ANNUAL REPORT & ACCOUNTS 2010-11

SCHEDULE - 4 INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` ` ` ` As at 31.03.2010

INVESTMENTS

Long Term Investments

In Fixed Deposits With Banks :

INSURANCE INSTITUTE OF INDIA

28
504,700,000 -

Axis Bank Bank Of Baroda Bank Of India Canara Bank Corporation Bank ICICI Bank IDBI Bank Oriental Bank Of Commerce State Bank Of Mysore UCO Bank Union Bank Of India Vijaya Bank 1,905,496,205

220,000,000 286,671,903 228,429,796 112,127,620 330,000,000 500,000,000 88,266,886 140,000,000 -

410,000,000 190,400,000 77,000,000 212,400,000 330,000,000 350,000,000 493,000,000 83,150,000 494,900,000 207,500,000 408,150,000 3,256,500,000

In Fixed Deposit With Companies : 1,153,300,000 657,200,000 504,700,000 1,810,500,000 Cont......

HDFC Limited LIC Housing Finance Limited

SCHEDULE - 4 INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` 300,000,000 650,000,000 499,721,000 450,000,000 200,000,000 2,099,721,000 137,974,050 276,535,800 683,537,700 1,098,047,550 ` ` ` As at 31.03.2010

INVESTMENTS

In Bonds/Debentures : Power Finance Corpn. Limited National Housing Bank Rural Electrification Limited Infrastructure Dev. Fin. Corpn. Limited LIC Housing Finance Limited

55th

29

In Certificate Of Deposits With : Canara Bank Punjab National Bank IDBI Bank

Current Investments 50,000,000 -

In Fixed Deposits With Banks :

Uco Bank

In Units Of Mutual Funds : 12,874 5,657,977,629 25,000,000 5,092,000,000 For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

Lic Mutual Fund - Liquid Fund (Growth Plan)

ANNUAL REPORT & ACCOUNTS 2010-11

TOTAL

SCHEDULE - 5 INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` ` 18,979 ` As at 31.03.2010

CASH AND BANK BALANCES

Cash on hand

` 25,900

Bank Balances with Scheduled Banks 506,273 31,232 100,001 637,506 4,418,329 4,418,329 5,074,814 2,486,137 419,548 2,905,685 3,549,271 476,332 41,354 100,000 617,686

In Current Accounts with :

Bank of Baroda UCo Bank Axis Bank

INSURANCE INSTITUTE OF INDIA

In Saving Accounts with :

30

Axis Bank Ltd United Commercial Bank

TOTAL

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

SCHEDULE - 6 INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` 443,610 347,476 176,175 800 968,061 426,790 78,220 5,000 510,010 ` ` ` As at 31.03.2010

ADVANCES AND DEPOSITS

Advances :

Festival Advance Vehical Advance Medical Ins. Premium Advance Sundry Advances

55th

Prepaid Expenses : 369,230 848,200 1,217,430 1,303,388 250,000 154,812 75,000 1,783,200 3,968,691 166,680 25,000 190,181 22,000 403,861 2,160,062 For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General 201,250 1,044,941 1,246,191

31

Prepaid AMC Prepaid Expenses-Others Prepaid Subscription

Deposits :

Electricity Deposit Other Deposit Rent Deposit Telephone Deposit

ANNUAL REPORT & ACCOUNTS 2010-11

TOTAL

SCHEDULE - 7 INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` 48,773,684 96,364,089 145,137,773 69,602,928 99,620,336 169,223,264 ` ` ` As at 31.03.2010

INTEREST/DISCOUNT OUTSTANDING

Interest Accrued :

On Fixed Deposit with various Banks On Fixed Deposit with various Companies

Discount Accrued : 29,282,530 174,420,302 169,223,264

Discount on Certificate of Deposits

INSURANCE INSTITUTE OF INDIA

TOTAL

32

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

SCHEDULE - 8 INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` 640,617 9,153,070 ` ` ` 4,467,465 983,251 As at 31.03.2010

RECEIVABLES

Sale of Study Courses

Receivable from various Associated Institutes/NSEIT Ltd.

College of Insurance Fees : More than One Year Others 690,410 690,410 171,550 171,550 6,700 6,700 47,229,521 57,891,868

33,000 7,500 40,500 17,640,147 17,640,147 500 500 326,750 42,380,071 65,838,684

55th

33

Fees for IRDA Examination : More than One Year Others

Fees for Professional Examination : More than One Year Others

Examination Expenses

Income Tax Deducted at Source

TOTAL

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

ANNUAL REPORT & ACCOUNTS 2010-11

INSURANCE INSTITUTE OF INDIA


SCHEDULE - 9 INSURANCE INSTITUTE OF INDIA (REGD.)
OTHER LIABILITIES As at 31.03.2011 ` Deposits Duties & Taxes Sundry Creditors Sundry Advances TOTAL 135,000 3,472,518 9,119,202 51,452,405 64,179,125 As at 31.03.2010 ` 316,335 618,640 38,682,887 4,066,935 43,684,797

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

SCHEDULE - 10 INSURANCE INSTITUTE OF INDIA (REGD.)


FEES RECEIVED IN ADVANCE As at 31.03.2011 ` Fees for : Examination College of Insurance Tuition Service TOTAL 26,384,400 26,384,400 As at 31.03.2010 ` 13,194,358 179,600 70,550 13,444,508

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

34

55th
FEES

ANNUAL REPORT & ACCOUNTS 2010-11


SCHEDULE - 11

INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` Professional Exam Fees IRDA Exam Fees Other Exam Fees College of Insurance Fees Tuition Fees TOTAL 100,707,527 285,122,900 2,995,188 11,360,934 71,350 400,257,899 As at 31.03.2010 ` 67,868,395 851,179,750 1,955,387 5,401,859 268,900 926,674,291

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

SCHEDULE - 12 INSURANCE INSTITUTE OF INDIA (REGD.)


SALE OF STUDY COURSES As at 31.03.2011 ` Sale of Study Courses Less : Service Charges Less : Discount Less : Loss in Transit TOTAL 39,944,550 2,360,783 61,996 5,800 37,515,971 As at 31.03.2010 ` 180,921,087 6,210,019 3,563 174,707,505

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

35

INSURANCE INSTITUTE OF INDIA


SCHEDULE - 13 INSURANCE INSTITUTE OF INDIA (REGD.)
SUBSCRIPTIONS As at 31.03.2011 ` Associated Insurance Institutes Annual Subscription from LIC / GIC Companies Affiliated Institute Accredited Learning Centre Membership TOTAL 139,600 440,000 1,100 180,100 760,800 As at 31.03.2010 ` 196,600 400,000 1,300 150,000 747,900

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

36

SCHEDULE - 14 INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` 5,167 849,683 854,850 170,150,315 80,629,760 250,780,075 251,634,925 46,674 46,674 251,588,251 98,656,286 29,282,530 379,527,067 354,582,325 21,707,861 42,474 21,750,335 354,582,325 287,515,360 87,493,161 375,008,521 376,332,660 20,486 1,303,653 1,324,139 ` ` ` As at 31.03.2010

INTEREST & DISCOUNT

On Savings Bank with :

UCO Bank Axis Bank

On Fixed Deposit with :

55th

Interest on F.D. with various Bank Interest on F.D. with various Companies

37

Less: Transferred to Building Fund Less: Transferred to Prize Fund

Interest Income on Debentures

Discount Income on Certificate of Deposits

TOTAL

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

ANNUAL REPORT & ACCOUNTS 2010-11

INSURANCE INSTITUTE OF INDIA


SCHEDULE - 15 INSURANCE INSTITUTE OF INDIA (REGD.)
INCOME FROM OTHER SOURCES As at 31.03.2011 ` Profit on sale of Mutual Fund Units Miscellaneous Income TOTAL 11,844,769 5,395,727 17,240,496 As at 31.03.2010 ` 767,175 767,175

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

SCHEDULE - 16 INSURANCE INSTITUTE OF INDIA (REGD.)


INCREASE / DECREASE IN STUDY COURSES As at 31.03.2011 ` Opening Stock of Study Courses Less:- Closing Stock of Study Courses TOTAL 24,805,099 17,401,067 7,404,032 As at 31.03.2010 ` 34,964,114 24,805,099 10,159,015

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

38

SCHEDULE - 17 INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` 20,256,164 21,879,683 103,722 42,239,569 10,710,802 66,637,630 692,715 78,041,146 ` ` ` As at 31.03.2010

EXPENDITURE FOR SPECIFIC OBJECTS OF THE INSTITUTE

Examinations : Professional Exam IRDA Exam Other Exam

55th

39
1,193,372 5,139,024 1,140,497 526,957 880,429 19,838

College of Insurance : Salary and Allowances Honorarium to Lecturers Others 3,368,775 958,280 3,377,757 7,704,811 17,132,835

1,927,325 671,500 2,843,939 5,442,764 38,895,863 889,736 1,962,506 6,332,396 944,480 12,894 6,053 2,567,721 963,427 Cont...... 2,852,242

Expenses on Development of Study Courses

Associated Institutes : Reimbursement to Associated Institutes Subsidy on Life Membership Fees

ANNUAL REPORT & ACCOUNTS 2010-11

Library & KMC Expenses : Printing and Publication of Journals Subscriptions to Periodicals & Journals Library Books Library Setup Expenses

SCHEDULE - 17 INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` 155,000 101,000 135,000 391,000 65,000 5,109,520 4,380 81,547,232 22,500 56,000 236,602 315,102 15,000 1,637,015 54,912 128,217,471 ` ` ` As at 31.03.2010

EXPENDITURE FOR SPECIFIC OBJECTS OF THE INSTITUTE

Competition & Prizes : Institute Prizes Life Members Prizes awarded to Asso. Institutes Late Shri S.K. Desai Essay Competition Prizes

Subscription Expenses

Conference & Meeting Expenses

INSURANCE INSTITUTE OF INDIA

40
For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

Tuition Expenses

TOTAL

55th
ESTABLISHMENT EXPENSES

ANNUAL REPORT & ACCOUNTS 2010-11


SCHEDULE - 18

INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` Salaries (including Bonus) 54,940,206 Contribution to P.F. & Other benefits to Staff 12,909,783 Contribution to Employee's Gratuity Fund 5,470,622 Leave Travel Concession 1,036,829 Staff Welfare 823,083 Staff training 208,232 Reimbursement of Housing Loan Interest - Subsidy Scheme 355,248 Reimbursement of Interest to III Employees P.F. 534,153 Computer Systems Consultancy & Maintenance 3,847,766 Rent, Electricity Charges & Other Establishment 13,003,217 Printing & Stationery 1,893,774 Postages, Telegrams & Telephones 1,086,338 Insurance Premium 467,329 Travelling & Conveyance Expenses 1,549,752 Legal & Professional Fees 3,601,061 Audit Fees 441,200 Repairs and Maintenance 9,564,591 Bank Charges 171,252 Loss on Sale of Assets 152,896 TOTAL 112,057,332 As at 31.03.2010 ` 29,335,064 6,187,976 4,793,333 1,032,697 552,396 2,400 280,940 980 3,002,045 16,933,422 735,877 2,415,603 396,098 1,476,995 1,891,810 441,200 2,139,494 847,126 72,465,456

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

41

INSURANCE INSTITUTE OF INDIA


SCHEDULE - 19 INSURANCE INSTITUTE OF INDIA (REGD.)
DEPRECIATION/ASSETS WRITTEN OFF As at 31.03.2011 ` Amortisation on Leasehold Land Depreciation on Residential Building Depreciation on Office Building Depreciation on Furniture, Fixtures & Office Equipments Depreciation on Motor Car Assets Written Off TOTAL 2,047,252 3,366,362 16,526,556 15,638,871 1,680,444 39,259,485 As at 31.03.2010 ` 2,047,252 116,734 2,597,900 16,880 4,778,766

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

42

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MISCELLANEOUS EXPENSES

ANNUAL REPORT & ACCOUNTS 2010-11


SCHEDULE - 20

INSURANCE INSTITUTE OF INDIA (REGD.)


As at 31.03.2011 ` Packing & Forwarding Entertainment Expenses Inauguration Expenses - BKC Advertising Expenses Portfolio Management Expenses Write Off Sundry Expenses TOTAL 10,051,920 285,401 7,622,874 1,884,455 2,712,344 410,422 1,575,458 24,542,873 As at 31.03.2010 ` 11,078,902 89,389 571,710 396,335 329,531 12,465,867

For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

43

INSURANCE INSTITUTE OF INDIA


SCHEDULE - 21 A.
1.

Significant Accounting Policies


Applicability of Accounting Standards : The Institute is in the field of insurance education & training and is non commercial organization. In view of the same it is level III enterprise as per the Institute of Chartered Accountants of India. The Institute follows the Accounting Standards applicable to it.

2.

Methods of Accounting and Revenue Recognition : The Institute recognizes revenue and expenses on accrual basis except in the case of sale of study courses made through associated institutes whereby sale is accounted for the period upto which the stock statement are received from such institutes. Certain amount of interest income earned during the year is allocated to Earmarked Funds.

3.

Fixed Assets and Depreciation : Depreciation on Fixed Assets is charged on Straight Line Method basis over a period of 5 years for assets purchased on and from 1st April 2007 except in case of Leasehold Land, Building and Motorcar. Asset costing less than `. 5,000/- is being charged off on purchase. The Method and Rate of Depreciation for Leasehold Land, Building and Motorcar are indicated in below table: Class of Assets Leasehold Land Motor Car Office Building Residential Building Method of Depreciation Straight Line Method Written Down Method Written Down Method Written Down Method Rate of Depreciation Over the lease period 20% 10% 5%

4.

Inventory Valuation : The inventory has been valued at cost or net realizable value whichever is lower. The Institute follows FIFO method for working out the cost of inventory. Necessary adjustments are made for obsolete / slow moving inventory.

5.

Investment : Long term investments are stated at cost. Short term investments are valued at lower of cost and net realizable value. 44

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6. Retirement Benefits :

ANNUAL REPORT & ACCOUNTS 2010-11

Employees are covered under the Group Gratuity scheme of LIC, gratuity charged to Profit and Loss account on the basis of premium demanded by LIC. Provident Fund and Pension charged to Profit and Loss account as per the rates specified by Office of Regional Provident Fund Commissioner (RPFC). Unearned Privilege Leave as at the year end is provided in the books on the basis of actuarial valuation. 7. Foreign Currency Transactions : Foreign currency transactions are accounted at the rate at which foreign currency is realized, as major transactions are for examination fee received in advance. 8. Utilisation Of Building Fund : Amount utilized from Building Fund for the stated purpose is transferred to the Corpus on payment.

B.
1.

Explanatory Note
BALANCE SHEET :

(a) Schedule 1 : (Corpus Fund) An amount of `. 95,74,84,700/- (Previous year - `. 1,246,829,145/-) is added to this account during the year which comprises of transfer from Building Fund, Investment Reserve, Contingency Reserve, Life Membership Fees, Election of Diploma Holders and Excess of Income over Expenditure. From October 2010 onwards, Life Membership Fees and Election of Diploma Holders fees is booked as income. (b) Schedule 2 : (Other Earmarked Funds and Reserves) During the year Building Fund, Investment Reserve and Contingency Reserve has transferred to Corpus Fund. The prize fund stands at ` . 50,00,000/- after adding interest allocated amount of `. 46,674/- and `. 4,606,609/- transferred from Corpus Fund. (c) Schedule 3 : (Fixed Assets) During the year, fixed assets is increased by `. 368,142,931/-. Fixed Assets additions primarily consisted of office Building and Furniture, Fixtures & Office Equipment at Bandra

45

INSURANCE INSTITUTE OF INDIA


Kurla Complex (Mumbai) and Residential Flats purchased at Mumbai. Accordingly, depreciation & Assets written off are also increased. (d) Schedule 4 : (Investments) The Institute has entered into contract with Portfolio Manager (PM) for investing the surplus fund. As on March 31, 2011, portfolio manager is holding investment of `. 3,671,398,346/- on behalf of the Institute. 2. INCOME AND EXPENDITURE ACCOUNT :

(a) Schedule 11 : (Fees Income) This schedule shows a decrease of `. 526,416,392/- as compared to the previous year due to closure of Offline Examinations for Insurance Agents. The fee income for Online Examination being very less. (b) Schedule12 : (Sale of Study Courses) This Schedule shows a net decrease of `. 137,191,534/- as compared to previous year. The decrease is due to reduction in sale of IRDA Study Courses. (c) Schedule15 : (Income from other Sources) This Schedule shows a net increase of `. 16,473,321/- as compared to previous year. It includes profit on sale of Mutual funds of `. 11,844,769/-. (d) Schedule18 : (Establishment Expenses) This schedule shows a net increase of ` . 3,95,91,876/-. Out of this Salaries & Contribution to Provident Fund, Gratuity & other benefits to staff are increased by `. 1,41,74,240.20/- due to arrear paid to employees for last 3 years. 3. Previous year's figures have been rearranged and regrouped wherever necessary. For INSURANCE INSTITUTE OF INDIA (REGD.) Sd/Secretary-General

46

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ANNUAL REPORT & ACCOUNTS 2010-11

THE S.K. DESAI MEMORIAL GOLD MEDAL & PRIZE


Late Shri. Suresh K. Desai has had an outstanding career in the insurance industry and, in particular, in areas covering insurance education and training. His notable contributions include his active role in founding the Bombay Insurance Institute of which he was the Chairman in its very second year. He was also the Chairman of the Insurance Association of India (Bombay Regional Committee). He was the Honorary Secretary of the Indian Life Offices' Association and it was during his Secretaryship that the Commemoration Volume of that Association was brought out. As for his significant contribution to the Insurance Institute of India, he was one of the members of the dedicated group which included among others, Sarvashri C. R. C. Gardiner, T. K. Desai, B. K. Shah and others who were associated with the formation of the Insurance Institute of India. An ardent believer in fostering insurance education and training in our country, he always remained in the forefront of the Institute movement. It was in fitness of things, that he was honoured as the President of the Institute in 1962. Another landmark in the annals of the Institute was the establishment of the College of Insurance in 1966, during his Deputy Chairmanship of the Board of Education. The College has become over the years, an Institution of International repute for higher learning in insurance - it is a living testimonial to his life works. Shri Desai died on 31st December, 1974. In order to perpetuate his memory, the Institute decided in 1975 to introduce an All India Essay Writing Competition on any subject of insurance either Life or General covering any area of original research work. The purpose of the memorial is to motivate large number of members to contribute original articles or research-oriented papers of a very high standard. The award carries Cash prize of Rs.30,000/- .The S. K. Desai Memorial Medal is the highest award of the Institute. This important research area is now gaining momentum in as much as some of the entries received from the members are found to be thought-provoking and very useful for the development of the Industry and promotion of insurance education and training in our country. In addition to the Gold Medal and Cash Prize, the recipient is also awarded a Merit Certificate.

47

INSURANCE INSTITUTE OF INDIA

THE RECIPIENT OF THE S. K. DESAI MEMORIAL MEDAL & PRIZE


1975 M. Vishwanath Rao, B.A. F.I.I.I. Hyderabad Insurance Institute "Life Insurance Business in Rural India". V.H.P. Pinto, B.A.,LL.B.,F.C.I.I., F.I.I.I. Bombay Insurance Institute "Productivity in General Insurance Industry". P.C. Poojari, B.A.,LL.B.,A.I.I.I. Bombay Insurance Institute "Human Relations in Life Insurance Industry in India" No entry merited the award. S. Sitharamu, B.Com.,B.L, PR Econs(Lond.) F.I.I.I Bangalore Insurance Institute "Need for Modernisation of Information Systems for better performances in LIC". No entry merited the award. No entry merited the award. Y. D. Patil, B.A.(Hons.), D.B.M., F.C.I.I., F.I.I.I. Bombay Insurance Institute "General Insurance in India The Rh factor" S. Sitharamu, B.Com.,B.L, FR Econs(Lond.) F.I.I.I Bangalore Insurance Institute "Training as an Effective supportive too for individual and Organisation Development" No entry merited the award. No entry merited the award. No entry merited the award. V. K. Bajpai, M. Com., L.L.B.,F.I.I.I. Delhi Insurance Institute "Law relating to liabilities of Carriers & other Bailees in India" 48 1988 1989 No entry merited the award. K. Ravindran, B.A., L.L.B., MBA Ahmedabad Insurance Institute "Future of Motor Insurance in India". Kishore Kumar Verma, M.Sc.,L.L.B., B.A.(Hons.), PGDM, F.I.I.I. Chandigarh Insurance Institute "A Strategic Approach to Loss Minimisaton in Motor Portfolio" No entry merited the award. No entry merited the award. No entry merited the award. No entry merited the award. No entry merited the award. No entry merited the award. No entry merited the award. No entry merited the award. P. C. James, M.A., F.I.I.I., Indian Insurance Society, Kolkata "Customer First"

1976 -

1990 -

1977 -

1991 1992 1993 1994 1995 1996 1997 1998 1999 -

1978 1979 -

1980 1981 1982 -

1983 -

2000-01- Rinku Chaudhary, MBA, F.I.I.I. Indian Insurance Society, Kolkata "Customer Service as a source of Competitive Advantage - The case of Indian Non-life Personal line of Insurance" 2001-02- K. N. Srinivasan Mumbai Insurance Institute "It is better to be safe than sorry" 2002-03- Vinay Verma Jaipur Insurance Institute "Building Profitability in Auto Insurance". 2003-04- P. C. James, M.A., F.I.I.I., Indian Insurance Society, Kolkata "Health Protection for all"

1984 1985 1986 1987 -

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2004-05- N. V. Subramanian Hyderabad Insurance Institute "Changing Mortality trends- Effect on Life Insurance" 2005-06- Vinay Verma Jaipur Insurance Institute "Micro Insurance Solutions" 2006-07- Krishna Kumar Sree Rajahmundry Insurance Institute "Transformational Change Management for Operational Heads" 2007-08- P. C. James Indian Insurance Society, Kolkata "Towards an Insurance Economy".

ANNUAL REPORT & ACCOUNTS 2010-11


2008-09- N.V. Subramanyam Hyderabad Insurance Institute "Financial Meltdown & Insurance Does India need a Risk Based Capital Model?" Consolation PrizeShri V.N. S. Pillai, Raipur Insurance Institute Life Insurance: 'Reverse Underwriting' by Prospects 2009-10 Smt. Teena Makhija Delhi Insurance Institute Bancassurance - Some Reflections.

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INSURANCE INSTITUTE OF INDIA

D. SUBRAHMANIAM AWARD ESSAY WRITING COMPETITION


Shri D. Subrahmaniam, M.A., B.Ed., FIA, FSS, FIII, was the Founder Principal of the College of Insurance established in 1966. Earlier, Shri Subrahmaniam held several important assignments in the Life Insurance Corporation of India, including the Principal of the Officers' Training College of L.I.C. He was associated with the College of Insurance for nearly two decades and is primarily responsible for elevating it to its present level of international eminence. He was also intimately connected with the growth and development of Insurance education and training in India for nearly 5 decades. The excellent rapport he had built up between the teacher and the taught is something unique and unparallel. By his untiring efforts and utmost dedication, the College has earned recognition in the International Insurance scene. He was also instrumental in getting the College of Insurance recognised by the Government of India as an Institution for higher learning in Insurance for sponsoring candidates for training under various National and International programmes for developing countries. In recognition of his outstanding contribution to the Insurance Institute of India and its College of Insurance in particular and Insurance education and training in general, the authorities of the Institute decided to honour him by instituting an annual essay writing competition. The award is known as "D. Subrahmaniam Award" consisting of a cash prize of Rs.20,000/and a Merit Certificate. The competition is intended to motivate the younger members of the Associated Institute in involving themselves in educational and research activities of the Institute and its Associated Institutes in promoting Insurance education, training and research in the country. The competition is, therefore, open only to members of the Associated Institutes upto the age of 45.

50

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1984 F.D. Vevaina, B.Com., A.I.I.I. Bombay Insurance Institute "Getting More Customer Oriented A feed back." R. Chandrasekaran, B.Com. CAIIB, F.I.I.I. Bombay Insurance Institute "Organisation Structural Design (O.S.D.) for G.I.C. of India" No entry merited the award. No entry merited the award. No entry merited the award. No entry merited the award. Praveen Gupta, M.A.,F.I.I.I., Vadodara Insurance Institute "Emergence and Dominance of a single product in a Multi-Production Facility- Experience of Underwriters." K. Ravindran, B.A., L.L.B., MBA Ahmedabad Insurance Institute "Review of Rural Insurance in India after nationalization with special emphasis on cattle insurance." P.C. James, MBA, F.I.I.I., Indian Insurance Society, Kolkata "People make the difference". No entry merited the award. No entry merited the award. No entry merited the award. No entry merited the award. No entry merited the award. No entry merited the award. Vinay Verma, M.Com. F.I.C.W.A., F.I.I.C.S., Jaipur Insurance Institute, "Legislative changes to restore Insurer's confidence."

ANNUAL REPORT & ACCOUNTS 2010-11

THE RECIPIENTS OF D. SUBRAHMANIAM AWARD


2000-01 Anabil Bhattacharya, BE.(Mech.), Hons., A.I.I.I., Indian Insurance Society, Kolkata "Risk Management in Human Life." A.K. Jain, Jaipur Insurance Institute, "A Paradigm Shift in Insurance Marketing (Strategy Dynamics for General Insurance Sector)". No entry merited the award. Teena Makhija, Delhi Insurance Institute "Bancassurance Achievement & Prospects". Smt. Nandita Banerjee Indian Insurance Society, Kolkata "Health Care for All Through Micro Insurance". Mrs. KGPL Rama Devi Hyderabad Insurance Institute "The Rise & fall of tariffs - An Analytical Review of the evolution of General Insurance Tariffs and De- Tariffing Process in India." No entry merited the award. Shri Achintya Mandal Indian Insurance Institute, Kolkata "Overview of Indian Insurance market in Post-liberalization eraGrowing Challenges & Opportunities and the fight for FDI" Shri Dilpreet Singh Amritsar Insurance Institute A study on the development health insurance - its history, current scenario & the future prospects in India

1985

2001-02

1986 1987 1988 1989 1990

2003-04 2004-05

2005-06

1991

2006-07

1992

2007-08 2008-09

1993 1994 1995 1996 1997 1998 1999

2009-10

51

INSURANCE INSTITUTE OF INDIA

TECHNICAL PAPERS
The Institute invites original articles of a very high standard on insurance topics, both on life and non-life subjects as may be decided by the committee. The topics for this competition are pre-determined and circulated to the members through Associated Institutes and companies in advance, sometimes in the month of January. The contribution should not exceed 10,000 words. The author of the selected articles will be awarded a Cash prize of Rs.10,000 and a Merit certificate and will also be invited to attend the Annual Conference to receive the prize.

TECHNICAL PAPERS ACCEPTED IN RECENT YEARS


1991-92 - Life Branch No entry merited the award - Non-Life Branch K. Harikrishnan Pune Insurance Institute "Achieving Customer Satisfaction" 1992-93 - Life Branch No entry merited the award - Non-Life Branch K. Harikrishnan Ernakulam Insurance Institute "Potential for personal Life Insurance in Inida and the Structure and role of Marketing Force in mass marketing" 1993-94 - Life Branch No entries received - Non-Life Branch M. Danasagaran, Madras Insurance Institute "Natural Catastrophe Insurances is there a case for separate product." 1994-95 - Life Branch P. Sankaran Thanjavur Insurance Institute "Consumer Protection Movement and Pro-active Strategies in LIC" 52 1996-97 - Non-Life Branch Nirmal Bhattacharya Indian Insurance Society, Kolkata "Deductibles in Fire & Engineering Insurance and First Loss Insurance" 1995-96 - Life Branch P. Sankaran Thanjavur Insurance Institute "A new look at the economics of Insurance" - Non-Life Branch K. B. Vijay Srinivas Madras Insurance Institute Concept of quality in customer service with special reference to expeditious settlement of claims" - Life Branch P. Sankaran Thanjavur Insurance Institute "Management of strategic issues in LIC in the context of opening of insurance industry. - Non-Life Branch Vinay Verma Jaipur Insurance Institute "Motor claims - Alternative approaches."

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1997-98 - Life Branch Vinay Verma Jaipur Insurance Institute "Managed Health Care". - Non-Life Branch S. Geetha Coimbatore Insurance Institute "Development of Pension Market in India" 1998-99 - Life Branch J. Viijaya Vani Guntur Insurance Institute "Cost Effective Distribution Channels of Life Insurance Products". - Non-Life Insurance Vinay Verma Jaipur Insurance Institute Retailing Personal Covers - a marketing approach". 1999-2000 - Life Branch G. Swaminathan Vellore Insurance Institute "Managing Customer Expectation". - Non-Life Branch Vijay Srinivas K.B. Madras Insurance Institute "How Returns Linked Insurance Products can be popularized" 2000-01 - Life Branch No entry merited the award. - Non-Life Branch (Joint Prize) Vijay Srinivas K.B. Madras Insurance Institute S. Venkateswaran Thanjavur Insurance Institute "New marketing strategies in the Competitive Scenario".

ANNUAL REPORT & ACCOUNTS 2010-11


2001-02 - Life Branch Urmi Bhadra Indian Insurance Institute, Kolkata "Insurance intermediaries- New Channels of Distribution" - Non-Life Branch S. Venkateswaran Thanjavur Insurance Institute "Merger of State Owned Non-Life Insurance Companies-viable option in view of recent development in ICICI and IDBI". 2002-03 - Life Branch No entry merited the award. - Non-Life Branch (Joint Prize) S. Venkateswaran Thanjavur Insurance Institute "Need, Utility and Scope for Separate Agriculture Insurance Company Primarily an Agrarain Economy". 2003-04 - Life Branch No entry merited the award. - Non-Life Branch Vinay Verma Jaipur Insurance Institute "Insurance Broking in India-Scope Challenges and Prospectus". 2004-05 - Life Branch No entry merited the award. - Non-Life Branch Sharada Kumarswamy Madras Insurance Institute "Expanding Health Insurance Ways and Means"

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INSURANCE INSTITUTE OF INDIA


2005-06 - Life Branch No entry merited the award. - Non-Life Branch Harmeet Singh Chahal Chandigarh Insurance Institute "Feasibility of Separate Health Insurance Company in India". 2006-07 - Life Branch Misbah Karloy Bangalore Insurance Institute "Money Laundering in Insurance Industry". - Non-Life Branch Anabil Bhattacharya Indian Insurance Society, Kolkata "Underwriting in a De-Tariff Scenario" 2007-08 - Life Branch No entry merited the award. - Non-Life Branch Anabil Bhattacharya Indian Insurance Society, Kolkata "Could Micro Insurance Initiatives alter the Picture of Low Insurance penetration in rural India in immediate future? 2008-09 - Life Branch C. Viswanath Nagercoil Insurance Institute Risk Based Capital - Non-Life Branch V.S.K. Rao Hyderabad Insurance Institute Combating insurance fraud with the use of I.T. 2009-10 - Life Branch Shri Nirjhar Majumdar Indian Insurance Institute, Kolkata How to increase life insurance penetration in the next decadeinnovation techniques, channels of design & products -Non-Life Branch R. Sujatha Madras Insurance Institute Relevance of Enterprise risk management Consolation PrizeDeepak Kumar Indian Insurance Society, Kolkata Road Map to creating natural catastrophe and nuclear pool

54

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ANNUAL REPORT & ACCOUNTS 2010-11

BEST INSTITUTE PRIZES


In order to encourage and motivate the Associated Institutes to undertake various educational, training and research activities effectively at various centers and to inculcate the spirit of healthy competition among the Associated Institutes, the Council decided to institute Best Institute Trophies & Cash Prizes to be awarded annually for outstanding performance in three broad categories of Institutes namely - A (Major Institutes), B (Medium Institutes) and C (Small Institutes), based on the Progress Report, membership strength and other criteria laid down for the purpose. The following is the list of Institutes who were the recipients of these coveted awards in the recent years : 1991- 92 A (Major Institutes) B (Medium Institutes) C (Small Institutes) A (Major Institutes) B (Medium Institutes) C (Small Institutes) A (Major Institutes) B (Medium Institutes) C (Small Institutes) A (Major Institutes) B (Medium Institutes) C (Small Institutes) A (Major Institutes) B (Medium Institutes) C (Small Institutes) A (Major Institutes) B (Medium Institutes) C (Small Institutes) A (Major Institutes) Agra Insurance Institute Utkal Insurance Institute Jamshedpur Insurance Institute Delhi Insurance Institute Not awarded - None attained the minimum standard Jalpaiguri Insurance Institute Madras Insurance Institute Mysore Insurance Institute Dibrugarh Insurance Institute Agra Insurance Institute Not awarded-None attained the minimum standard Sambalpur Insurance Institute Ahmedabad Insurance Institute Not awarded-None attained the minimum standard Jalpaiguri Insurance Institute Bangalore Insurance Institute Vijayawada Insurance Institute Jamshedpur Insurance Institute Agra Insurance Institute, Delhi Insurance Institute Not awarded-None attained the minimum standard Vikramshila Insurance Institute

1992- 93

1993- 94

1994- 95

1995- 96

1996- 97

1997- 98

B (Medium Institutes) C (Small Institutes)

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INSURANCE INSTITUTE OF INDIA


1998- 99 A (Major Institutes) B (Medium Institutes) C (Small Institutes) A (Major Institutes) B (Medium Institutes) C (Small Institutes) --A (Major Institutes) B (Medium Institutes) C (Small Institutes) A (Major Institutes) B (Medium Institutes) C (Small Institutes) A (Major Institutes) B (Medium Institutes) C (Small Institutes) A (Major Institutes) B (Medium Institutes) C (Small Institutes) A (Major Institutes) B (Medium Institutes) C (Small Institutes) --A (Major Institutes) B (Medium Institutes) C (Small Institutes) Jaipur Insurance Institute Asansol Insurance Institute Dibrugarh Insurance Institute Bangalore Insurance Institute Kottayam Insurance Institute Warangal Insurance Institute No Institute qualified to get Best Institute Trophy Indian Insurance Institute, (Kolkata) Utkal Insurance Institute, (Cuttack) Udaipur Insurance Institute Bangalore Insurance Institute Utkal Insurance Institute (cash prize only) Warangal Insurance Institute Jaipur Insurance Institute Vijayawada Insurance Institute Udaipur Insurance Institute (cash prize only) Indian Insurance Institute, (Kolkata) Not awarded-None attained the minimum standard Kottayam Insurance Institute Not awarded-None attained the minimum standard Not awarded-None attained the minimum standard Nagercoil Insurance Institute No Institute qualified to get Best Institute Trophy Indian Insurance Institute, (Kolkata) Kottayam Insurance Institute Nagpur Insurance Institute Bhavnagar Insurance Institute Rajkot Insurance Institute Udaipur Insurance Institute Nagercoil Insurance Institute

1999- 2000 2000- 01 2001- 02 -

2002- 03

2003- 04

2004- 05

2005- 06

2006- 07 2007- 08

56

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2008- 09 A (Major Institutes) B (Medium Institutes) C (Small Institutes)

ANNUAL REPORT & ACCOUNTS 2010-11

No Institute qualified to get Best Institute Trophy Ajmer Insurance Institute Bhavnagar Insurance Institute Nagercoil Insurance Institute Nellore Insurance Institute No Institute qualified to get Best Institute Trophy Indian Insurance Institute, Kolkata Indian Insurance Society, Kolkata Utkal Insurance Institute Kottayam Insurance Institute Rajahmundry Insurance Institute Ahmedabad Insurance Institute Indore Insurance Institute Bhopal Insurance Institute Udaipur Insurance Institute Lucknow Insurance Institute Calicut Insurance Institute Ajmer Insurance Institute Nagercoil Insurance Institute Thanjavur Insurance Institute Bhavnagar Insurance Institute

2009-10

A (Major Institutes) B (Medium Institutes) C (Small Institutes)

57

INSURANCE INSTITUTE OF INDIA

Associated Institutes - Life Membership 31/03/2011 (Annual Report)


Code Institute Establishment Year Life Members Associates Fellows Total Members Last year Membership 2940 4191 1685 1173 1418 2060 9086 30351 2402 3454 3997 24910 4005 310 4018 1054 1583 1594 8366 2324 2334 4429 1476 5406 944 759 1458 2583 1697 4457 661 % Overall Membership Increase(+) Decrease(-) 3.27 10.76 5.16 7.08 8.04 5.34 8.72 8.07 6.45 10.39 5.48 7.52 2 6.45 6.52 14.42 3.54 3.89 9.28 15.28 45.89 6.05 6.71 9.71 9.75 10.14 14.88 9.56 9.9 7.2 0.45 Remark

101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131

Agra Ahmedabad Ajmer Allahabad Amritsar Asansol Bangalore Mumbai Calicut Chandigarh Coimbatore Delhi Dharwad Dhubri Ernakulam Guwahati Guntur Gwalior Hyderabad Indian Insurance Institute Indian Insurance Society Indore Jabalpur Jaipur Jalpaiguri Jamshedpur Jodhpur Jalandhar Kanpur Lucknow Machilipatnam

1959 1955 1966 1968 1962 1963 1958 1955 1973 1963 1963 1957 1967 1959 1967 1959 1961 1961 1956 1930 1944 1957 1959 1975 1975 1965 1989 1959 1956 1961 1958

2612 3858 1343 1046 1288 1903 8394 28003 2027 2692 3411 22759 3703 303 3283 1044 1362 1476 7628 1754 2682 4056 1342 5005 913 611 1293 2368 1449 4005 463

304 552 338 161 194 193 926 2998 348 704 454 2678 271 23 606 121 155 125 849 558 525 476 168 569 92 161 259 345 289 567 83

120 232 91 49 50 74 558 1798 182 417 351 1345 111 4 391 41 122 55 665 367 198 165 65 357 31 64 123 117 127 206 118

3036 4642 1772 1256 1532 2170 9878 32799 2557 3813 4216 26782 4085 330 4280 1206 1639 1656 9142 2679 3405 4697 1575 5931 1036 836 1675 2830 1865 4778 664

58

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Code Institute Establishment Year 132 133 134 135 136 137 138 139 140 142 143 144 145 146 147 148 149 151 152 153 154 155 156 161 162 163 164 165 166 168 170 173 Chennai Madurai Meerut Muzaffarpur Mysore Nagercoil Nagpur Nasik Pune Patna Raipur Rajkot Salem Satara Srinagar Surat Thanjavur Trivandrum Udupi Cuttack Varanasi Vijayawada Visakhapatnam Cuddapah Dehradun Bhopal Kolhapur Goa Andaman Dibrugarh Bareilly Vadodara 1956 1961 1960 1967 1988 1958 1958 1966 1959 1966 1967 1966 1985 1972 1959 1964 1962 1962 1961 1971 1962 1964 1959 1978 1978 1987 1981 1980 1987 1981 1988 1987 9001 2239 451 1171 1711 506 1256 1327 5714 2584 1897 1090 1779 135 206 1733 1419 1519 1207 2826 1700 1735 1873 1800 701 2682 1621 1100 6 122 508 1774 1172 427 166 142 177 66 168 147 495 300 253 144 227 65 41 135 270 240 272 263 193 203 277 241 174 319 180 125 8 34 180 189

ANNUAL REPORT & ACCOUNTS 2010-11


Fellows Total Members Last year Membership 10660 2922 597 1330 1946 547 1312 1399 5711 2580 2091 1172 2119 201 212 1675 1827 1773 1544 2975 1829 2018 2227 2140 845 2871 1666 1172 11 152 661 1789 % Overall Membership Increase(+) Decrease(-) 8.93 5 12.9 1.28 2.06 10.6 18.52 11.22 14.01 14.77 7.08 10.24 3.11 13.43 25.47 13.55 4.11 8.07 4.92 8.17 6.45 4.71 6.56 3.27 13.37 9.02 10.8 6.83 36.36 11.18 13.31 13.3 Remark

Life Members Associates

1439 402 57 34 98 33 131 82 302 77 89 58 179 28 19 34 213 157 141 129 54 175 223 169 83 129 45 27 1 13 61 64

11612 3068 674 1347 1986 605 1555 1556 6511 2961 2239 1292 2185 228 266 1902 1902 1916 1620 3218 1947 2113 2373 2210 958 3130 1846 1252 15 169 749 2027

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INSURANCE INSTITUTE OF INDIA


Code Institute Establishment Year Life Members Associates Total Members Last year Membership 1269 268 1100 1465 1637 184 758 1124 1044 142 737 510 686 1253 883 473 290 294 978 1701 686 749 562 433 510 548 416 929 220728 % Overall Membership Increase(+) Decrease(-) 3.86 17.16 10.73 13.79 6.96 11.41 5.28 4.09 13.12 45.07 7.6 10.98 7 8.54 6.23 10.15 27.24 14.63 3.58 6.76 6.41 13.35 6.58 14.55 9.22 8.58 3.85 12.27 919.49 Remark

Fellows

174 175 176 181 188 189 190 191 192 196 201 203 206 207 208 209 211 212 214 215 219 220 221 223 225 226 227 228

Pondicherry Silchar Udaipur Aurangabad Karnal Jorhat Sambalpur Raichur Warangal Bhilai Shimla Gorakhpur Bikaner Kottayam Vellore Haldwani Bhavnagar Amravati Nellore Rajahmundry Satna Bhagalpur Belgaum Bramhapur Nanded Aligarh Shahdol Hazaribag Total

1983 1983 1999 1987 1989 1989 1988 1989 1999 1999 1989 1999 1995 1997 1991 1998 2000 2000 1994 1994 1995 1995 2001 1996 1997 1999 2000 2002

1075 268 1055 1485 1494 166 702 1023 923 172 681 456 595 1076 689 413 334 238 784 1562 622 709 500 425 498 502 380 946 199242

136 36 106 119 173 34 69 110 112 21 78 71 86 192 150 76 25 58 110 130 80 96 62 48 39 65 38 65 25770

107 10 57 63 84 5 27 37 146 13 34 39 53 92 99 32 10 41 119 124 28 44 37 23 20 28 14 32 14758

1318 314 1218 1667 1751 205 798 1170 1181 206 793 566 734 1360 938 521 369 337 1013 1816 730 849 599 496 557 595 432 1043 239770

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ANNUAL REPORT & ACCOUNTS 2010-11

FELLOW AND ASSOCIATES 790 Fellows and 1399 Associates were elected during the year raising the total number of Fellows and Associates to 14067 (last year 13277) and 34755 (last year 33356) respectively. Total Membership - 199242 Associates elected of May 2010 Examination : Associates elected of October 2010 Examination : Associates elected of Other Examination (Earlier Exam) : Associates elected during : 01/01/2010 - 31/03/2011 :Fellows elected of May 2010 Examination:Fellows elected of October 2010 Examination:Fellows elected of other Examination (Earlier Exam) Fellows elected during : 01/04/2010 - 31/03/2011 :473 551 375 1399 272 318 200 790

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FELLOWS ELECTED DURING THE YEAR 2010-2011


DIPLOMA NAME OF THE CANDIDATES NO. 101 16952 102 16306 16552 16953 105 16565 107 16567 16568 16569 16570 16571 16572 16573 16575 16576 16578 16579 16580 16581 16960 16962 16963 16964 16965 17288 17290 17297 17298 9419 Agra Insurance Institute UMESH DHAWAN Ahmedabad Insurance Institute KRUNAL PANKAJKUMAR SHAH MANOJKUMAR KEMMU SHAH UJJAVAL ASHOK KUMAR Amritsar Insurance Institute BALJIT KAUR BAINS Bangalore Insurance Institute VIJAYA A. SAMYUKTHA RAMESH P. R. VISHNUMURTHY RAO JAGDISH HOSKARE REVATHI CHANDRA K. ANI MUTHYALU B. S. GEETHA K. N. MANJULA SHALINI R. SHENOY A. SUMA V. RADHIKA C. MALATHI SHYLAJA VAJAPEYAM C. PALLAVI S. JAIN JYOTHI MURTHY B. P. SURESH BRUNDA B. L. K. CHITHRA REGHA A. L. PRIYA FLORINE L. D'SOUZA Others Others New India Oriental Oriental National LIC LIC Oriental LIC United India LIC LIC Others Others National LIC Others Others LIC 110 16353 16622 16625 16626 16627 16631 Chandigarh Insurance Institute VISHAL SACHDEVA DEEPAK SINGLA INDER JEET SINGH BEDI JOGINDER SINGH SUNEET VERMA JAGJIT SINGH National Student United India National New India Oriental LIC Others LIC LIC Others COMPANY DIPLOMA NAME OF THE CANDIDATES NO. 108 16073 16341 16584 16589 16590 16607 16610 16611 16871 16909 16912 16913 16914 16915 16918 16967 16972 16975 16977 17235 17236 17238 17240 17241 109 16985 Mumbai Insurance Institute PRASAD JWALAPURAM SWATI NANDKUMAR KALE CHETAN SADANAND PARAB SUSMEET KAUR J. KELVIN KUMAR PHADKE DEEPAK DATTATRAYA SANJAY THOMAS LOPES SANJAY NEMAJI KOHAD ATUL NARAYAN BADE SANJAY HARJIVANDAS GANATRA SHEWATE SUNANDA PRATAP UMA MOHAN IYER RAJESHWARI UMESH RAO MRUDULA KISHOR KALE MADHURI TUSHAR GADRE NIKAM ASHOK LAXMAN GIRIJESH RAI SALVI SUCHITRA SUSHIL CHETANA GANAPATI BHARDWAJ NISHA BABAN PAWAR RADHAI RAVICHANDER MEENAKSHI G KUMAR KOKARE DATTARAM DHONDU GEETA SUSHIL SARANG Calicut Insurance Institute SURENDRANATH P. United India LIC LIC Others Student Student National United India New India Others Private Life LIC New India LIC LIC LIC New India Others New India LIC Student United India New India United India National COMPANY

CONJEEVARAM SANKARAN BHARATH Surveyors YOGANANDA B. MOHAN P REVADI LIC United India

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DIPLOMA NAME OF THE CANDIDATES NO. 16632 16635 16638 16900 17355 111 16641 16995 17000 17001 17002 112 15892 16125 16133 16238 16359 16365 16647 16648 16649 16651 16652 16653 16654 16656 16658 16659 16660 16662 16663 16664 16665 16666 16667 16668 TARANJEET KAUR SANGEETA KAPOOR R. S. BAHLAN ANKUR GARG JOLLY BANSAL Coimbatore Insurance Institute A. KRISHNAKUMAR U. S. KOTHANDARAMAN R. B. ALAMELUMANGAI R. JEYASHREE M. K. SANTHOSH Delhi Insurance Institute GAURAV GUPTA LALIT KUMAR SACHDEVA SANJAY VATS ABHA PANDEY NEERAJ SETHI NARENDER ANAND DHANANJAY KUMAR RAKHEE GIRDHAR BINDIYA AHUJA SANDEEP KUMAR SHAKUL GOYAL CHETALI KHERA SUDHA REDDY R. SHREYAS KASA SUMAN SHARMA SARLA MITTAL SANJEEV MINOCHA KANWALJIT KAUR HARISH NAGPAL SATISH KUMAR ARORA NEERAJ KUMAR MEENA KHANEJA VINAY KUMAR GOPAL KRISHAN Private General New India Others LIC Surveyors Private General LIC Others Others Others Others Student Others Others United India New India LIC United India LIC New India New India National United India National United India United India LIC LIC New India COMPANY LIC LIC Oriental National Others

ANNUAL REPORT & ACCOUNTS 2010-11


DIPLOMA NAME OF THE CANDIDATES NO. 16669 16672 16673 16676 16677 16678 16894 16920 16923 17007 17008 17010 17011 17012 17013 17014 17016 17017 17018 17020 17021 17022 17023 17025 17026 17028 17031 17033 17034 17035 17036 17393 17395 17399 17404 17414 17416 17422 RACHNA GUPTA A. K. PARASHAR SNEHA YATIN PATEL AJIT KUMAR SURESH RAY RICHA JAIN PUNIT KUMAR JAIN PARVEEN KUMAR SOM NATH AGGARWAL BHUPINDER SINGH VIDYUT AGARWAL SHUCHITA GOSWAMI MUKESH DHYANI SANJIV BHARDWAJ ROMI RITESH KUMAR GUPTA BALVINDER SINGH MEENU KHATRI SAURABH JAIN SATISH KUMAR GABA ARTI NAGPAL SATYAMANJULA MOHD AZHAR WASI PRADEEP KUMAR TYAGI RENU KATHURIA ANUPMA SACHDEV HARISH KUMAR CHIRANJI LAL VIRENDER KUMAR ASHWANI SHARMA ASHWANI KATYAL NARESH BAJAJ NEETA GOEL PRARABDH KOOMAR RAKESH KUMAR SHARMA SANJEEV SHARMA CHANDRA MOHAN KOTNALA MONIKA MOHLA NAGPAL COMPANY

Oriental New India LIC LIC LIC LIC New India National National Others Others Others New India Others Others Student Others Student Others Oriental New India New India New India National United India LIC Others Oriental LIC LIC Iffco Tokio Gen Bajaj Allianz Co. Student Oriental National National Oriental Oriental

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INSURANCE INSTITUTE OF INDIA


DIPLOMA NAME OF THE CANDIDATES NO. 17425 17426 115 16998 17041 17042 17043 17044 17045 17046 17047 17049 17435 17436 17439 17446 17448 17450 17453 118 17053 17054 119 16396 16670 16699 16700 16701 16702 16703 16704 16705 16706 16708 16709 16710 16714 BIMLA UPADHYAYA KRISHAN SWAROOP Ernakulam Insurance Institute R. MINI MANJU DEVARAJ VIJAYALAKSHMI V. V. K. VARGHESE V. G. PRATHAPAN JYOTI A. SHENOY SINDHU RAPHAEL RAJI S. PANICKER ASHA K. M. ANTONITTA PETER P. MANOJ M. N. R. KRISHNAMOORTHY RAJESH SREENIVASAN BEENA R. N. V. SATHEE DEVI MALINI K. B. Gwalior Insurance Institute BHARAT BHOOSUN GUPTA NIDHI AGRAWAL Hyderabad Insurance Institute M. V. NARASIMHA CHARY SHIKSHA SHAHA T. RAMA GOPAL PADMAVATHI VANKAYALAPATI KARYAMPUDI RAJESH R. SANGEETHA KALPANA SUNKARA KUMAR RAJAMANURI VENUGOPAL A. VINOD BABU K. SHIVA VISHNU REDDY AISHWARYA S. KUMAR K. SATYA KUMAR K THIAGU KUMAR P. S. A. V. LAKSHMI Others Oriental Others Others LIC Govt Employee Others Aviva Life Govt Employee Others Student New India National LIC LIC Others United India LIC Others Oriental New India United India National Oriental LIC United India National New India National LIC National United India COMPANY DIPLOMA NAME OF THE CANDIDATES NO. 16715 16716 16717 16718 16719 16720 16721 17055 17060 17062 17068 17069 17464 17466 17477 17478 120 16724 16733 16735 17073 17076 17077 17078 17079 17085 17087 17088 17089 17090 17485 17493 17497 17501 121 16723 16729 16777 CHITRAPU KIRAN MAI VANDANA DOKE GUTTI SWARNA LAKSHMI GALI RAM BABU D. MARIYADAS P. S. V. MANGA TAYARU SHIRIN KAMAL PARBATANI KOTHAPALLI REDDYGARI SUNEETHA LATHIKA V. C. MUTYALA KALYAN CHAKRAVARTHI M. P. SUBBALAKSHMI GODAVARTHI VIJAYA LAKSHMI AJITHA SURAJ MARRELLI SWAPNA G. ARUNA KUMARI KALYANI RAJESH Indian Insurance Institute SURAJIT DUTTA ABHIJIT MUKHOPADHYAY ARPITA RAY PRATITI GOSWAMI AMITAVA BHATTACHARYA MUKUL MAITI SAILY KEDIA PARTHA SARATHI LAYAK RAJARSHI SEN SUBHRA DAS MUKHOPADHYAY BARNALI BANERJEE SANCHITA BHATTACHARYA PRAN KISHOR DHARA TAPAS BISWAS PINAKI DAS CHANDANA BOSE SOBHAN KABIRAJ Indian Insurance Society RAM KRISHNA DAS PRADIPTA SARKAR SUBHABRATA CHAKRABORTY Oriental ICICI Lombard G Others LIC LIC LIC LIC SBI Life LIC Others Allianz Bajaj LIC LIC LIC LIC LIC LIC Student LIC LIC COMPANY

National LIC

LIC LIC New India LIC Oriental LIC Cholamandalam G Others Others Surveyors LIC United India Student Student LIC LIC

64

55th
DIPLOMA NAME OF THE CANDIDATES NO. 17075 17082 17086 17091 17488 17489 17499 122 16737 16738 16739 17093 124 17095 17096 17100 127 16750 16751 16753 17103 17105 17107 17108 17109 17150 130 15942 16439 16762 16766 16767 16768 17524 DEBASIS DATTA GAUTAM NATH BHATTACHARYYA DEBJIT GOSWAMI UPANSHU RATAN SOMNATH GUHA SHARMISTHA BANERJEE SWAGATA ROY (BOSE) Indore Insurance Institute KARTIKESH PALIWAL ANUPAMA DESHPANDE ABHISHEK DESHPANDE THOSARE SUBHASH SITARAM Jaipur Insurance Institute NEHA MOHTA GIRISH MOHAN GARG VINAY KUMAR SHARMA Jodhpur Insurance Institute CHAITAALI VAID LOKESH VYAS Student Others Student Student Oriental LIC LIC LIC Student Student Others Oriental Others Others Student National COMPANY Others United India United India Others Others Others LIC

ANNUAL REPORT & ACCOUNTS 2010-11


DIPLOMA NAME OF THE CANDIDATES NO. 133 17136 17138 17192 17193 17557 17714 136 17141 137 17145 138 16812 16814 140 17149 17152 17154 17156 17157 17158 17587 143 17597 145 17161 17164 17260 Madurai Insurance Institute UMA MAHESWARI S. R. GOMATHI K. NAGARAJAN K. SUDHA K. RAMESH P. CHITRA Mysore Insurance Institute ASHIS KUMAR MANDAL Nagercoil Insurance Institute ARUNACHALA PERUMAL V. Nagpur Insurance Institute NARENDRA RAMAJI DHAWALE SMITA AMARENDRA JALTARE Pune Insurance Institute HOLEHONNUR MANASI VENKATESH BHOSALE JEEVAN SHANTARAM BHAGWAN KRISHNA SHRIVASTAVA SEEMA VIJAY LIMAYE RAIRIKAR ANAGHA AMARENDRA JYOTI PAMANDAS ASUDANI SOMA DNYANESHWAR MADHUKAR Raipur Insurance Institute RAJNISH KUMAR SALUJA Salem Insurance Institute V. JAYASHREE BASKARAN D. N SEKAR Satara Insurance Institute NEHA NITIN SHINDE Thanjavur Insurance Institute RAJAKUMARI B. S. GEORGE SUJATHA PAULINE S. PUSHPA LIC LIC LIC United India LIC LIC LIC LIC LIC Others New India Oriental New India LIC LIC New India LIC LIC LIC Others LIC LIC National LIC Others LIC COMPANY

PUNITA PANWAR SHIKHA HASSANI LAXMI DUTT JOSHI KAMAL KISHORE VYAS PREM SUKH NEIN HEMENDRA PUROHIT MUDASSIR KHALIL Lucknow Insurance Institute RAJ NARAYAN MISHRA AMIT KISHORE SINHA NIMITA SHEEL RAJIV KUMAR PANDEY SANJEEV KUMAR JITENDRA TIWARI SANDEEP BHANDARI

LIC Others Others Oriental Oriental National Oriental

146 17605 149 16833 16996 17137 17167

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INSURANCE INSTITUTE OF INDIA


DIPLOMA NAME OF THE CANDIDATES NO. 151 16837 16838 16839 17169 17170 17225 17617 152 17171 153 16842 16845 17172 17174 17176 155 17178 17181 156 17175 17182 6037 162 17185 163 16868 17189 17190 17627 164 16968 168 17195 Trivandrum Insurance Institute M. SRIDEVI BEENA JOHN KARTHIKA K. NAIR SHIBI THANKAM T. S. A. USHA KUMARI ANWAR MOHAMEDISMAIL S. GEETHA KUMARI Udupi Insurance Institute DUSHYANTH KUMAR Utkal Insurance Institute SANTOSH KUMAR MALIK PRAFULLA KUMAR PRADHAN AYASA KANTA DASH SIBA PRASAD PADHI PRAKASH RAO ALLU Vijayawada Insurance Institute NANDURI RAMANUJACHARYULU GOSUKONDA VAIDEHI Visakhapatnam Insurance Institute LADE KANAKA SUDHAKAR RAO MADUGULA PEDA MAHALINGAM SATYA NARAYANA SAHU Dehradun Insurance Institute REETA MALIK Bhopal Insurance Institute KIRTI HARWANI HEMA LIMAYE KULGAURAV SHEETAL LAXMANDAS CHANDWANI Kolhapur Insurance Institute PRASHANT BAJIRAO KHARADE Dibrugarh Insurance Institute KAMALESH CHAKRABORTY New India LIC 228 14946 16548 Hazaribag Insurance Institute GAUTAM KUMAR SINHA AJAY PRASAD LIC LIC Oriental United India Others Oriental 221 17257 223 16858 226 16056 Belgaum Insurance Institute SANKANNA VEERAPPA HUGGI Bramhapur Insurance Institute A. KUSUM KUMARI Aligarh Insurance Institute ABHAY KUMAR LIC LIC LIC LIC Others United India LIC United India LIC New India New India LIC Others United India 208 17249 209 17251 214 16696 16932 16934 17254 215 17179 Vellore Insurance Institute J. GOWRI LAKSHMI Haldwani Insurance Institute AJAY KUMAR JOSHI Nellore Insurance Institute CHALLA PADMA K. S. RAM K. V. S. LAKSHMI PASUPULETI SULOCHANA RANI Rajahmundry Insurance Institute MENDU KODANDA RAM LIC LIC Others LIC LIC New India LIC 207 17701 17702 Kottayam Insurance Institute JOSE J. MEKKUNNEL MAYA J. LIC LIC Oriental United India LIC LIC United India LIC Others Others COMPANY DIPLOMA NAME OF THE CANDIDATES NO. 173 16878 17206 176 13391 17215 17646 181 16889 17219 17581 206 17247 Vadodara Insurance Institute BHARATKUMAR RAVJIBHAI PATEL RUPAL PRAGNESH PARIKH Udaipur Insurance Institute MRS GURVINDER KAUR CHAWLA DAYA LAL DARJI ROMA SAHETIA Aurangabad Insurance Institute LIMAYE DAMAYANTI JAYWANT BHAGWAN ATMARAM DEVATWAL ASHISH LUHARUKA Bikaner Insurance Institute VIVEK MISHRA New India LIC LIC Bajaj Allianz G Others Oriental Student LIC LIC COMPANY

66

55th
DIPLOMA NAME OF THE CANDIDATES NO. 101 49151 49152 102 49812 103 48494 49112 49169 104 49174 105 48802 106 49180 49181 49182 49183 49851 107 1053 46605 47831 47979 48505 48507 48509 48513 48514 48515 48516 48517 49184 49185 49187 49189 49192 Agra Insurance Institute DHARM VIR SINGH SANJEEV PRABHAKAR Ahmedabad Insurance Institute BODAR KEYURKUMAR LAXMANBHAI Ajmer Insurance Institute VIJAY KUMAR KALAVATI MODANI DINESH KUMAR HATWAL Allahabad Insurance Institute RAJENDRA PRASAD SHUKLA Amritsar Insurance Institute PARVEEN KUMAR SHARMA Asansol Insurance Institute MALAY CHAKRABORTY VIJAY SHANKER TIWARY RAM PRASAD LAHA SOUKHIN CHATTOPADHYAY ASIS PANJA Bangalore Insurance Institute C R VENKATARAMAN ARUNAC. RUCHI VIJ SMRITI KHATTER SIMRAN KAUR DHESI V. M. SRIDHAR S. L. PAVAN KUMAR SUJATHA BHAGAVAN S. MANJUNATHA RAJASHREEV. KINI THANGAMANI S. JADHAV ASHWANI KUMAR SURESH RAMANATHAN U. N. NIRANJAN SUMAN R. SUSHMA N. GUPTA ARSHIYA TARANUM LIC Others Others Others Private General Others Iffco Tokio Gen Others Oriental Others United India Oriental Others Private General Others Others Student LIC Student LIC LIC LIC National Others Oriental LIC National New India LIC LIC COMPANY

ANNUAL REPORT & ACCOUNTS 2010-11

ASSOCIATES ELECTED DURING THE YEAR 2010-2011


DIPLOMA NAME OF THE CANDIDATES NO. 49194 49197 49198 49200 49202 49203 49865 49870 108 43771 47749 47856 47878 47902 47953 48519 48522 48524 48529 48530 48532 48533 48540 48542 48543 48545 48548 48549 48550 48553 48556 48557 48558 48560 48562 48563 48566 48567 ADITI SHETTY SOWMYA D. SANGEETA BUGADIKATTI SIDDABATHUNI GOWRI VALLI RAGHAVA SAN K. SIVA KUMAR K. SUBRAMANIAN TARUN KARAN SANCHETI JASWANTH SINGH G. Mumbai Insurance Institute MADHURIRAVINDRA KAMAT SUJATA RAJAN PRIYA VILAS SAWANT PAYAL HEMANT GAWADE POONAM TANDON PRITI VIJAY THAKER K. S. VIJAY BALAJI NEETA J. KULMETI MADHAVIM. RAUT MANISH B. SHETTY RAHUL KANTI SHAH SIBBY SOJAN SMITA KETAN CHACHAD KAVITHA SANTHANAM RAJIV KUMAR LAKHANPAL SARIKA RANJAN DIGHE SANDEEP BALIRAM TONY PETER MIRANDA DSOUZA MAMATHA ANAND PATNI BINOTA SHUBHA B. KULKARNI MEERA RAGHURAMAN PRAKASH SAKHARAM SALUNKE SAVDAVKAR HEMANGINI TUSHAR SONALI RAJENDRA PEDNEKAR VIJAYSHREE VIJAY SHIRODKAR VINITA PARESH VAIDYA LIC Oriental Met Life India United India Others Others Others New India National Private Life SBI Life Others Others Others National HDFC Standard L ICICI Lombard G Others Birla Sun Life National New India LIC United India National New India Others National SANGTANI VIJAYKUMAR TARACHAND United India Student United India United India Others Aviva Life COMPANY

Bajaj Allianz G LIC LIC

KANOLE YASHWANT PRABHAKARRAO Student

67

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DIPLOMA NAME OF THE CANDIDATES NO. 48569 48571 49047 49059 49064 49065 49067 49070 49071 49074 49075 49210 49212 49216 49219 49222 49228 49230 49239 49241 49255 49256 49261 49262 49263 49265 49267 49268 49269 49739 49746 49748 49749 49751 49752 109 35937 49273 110 48576 48579 SUHASINI SUHAS GHOSALKAR MANISHA MADHUKAR GAONKAR BAROT CHINTAN KIRITKUMAR GANESH P. LOKHANDE SUSHAMA PARSHURAM TANPURE PRADNYA MOHAN HATEKAR HEERAL DUNGERSHI MAHESHWARI MIHIR RAMESH SOLAPURKAR JUVEKAR CHITRA RAVINDRA BHAVE ANJALI YOGESH MAHAJAN KEDAR MUKUND SHAH CHIRAG SHAILESHKUMAR HUMAYUN JAMIL AHMAD KHAN MANOJ BOHARA KHEDEKAR TRUPTI RAMDAS N. MAHALAKSHMI DR. KETAN ARUNKUMAR BHATT DEODHAR SHAILENDRA VISHNU BIRADAR CHANDRARAO PANDITRAO LUTHRA JAYSHREE PRAKASH RASHMI RAMESH PAWAR ROY CHATALI DANNY NILADRI THAKUR SUJATA VIJAY BAKDE RUPALI ARUN BADKAR VIDYA BHARAT SHINDE PRITI PARAG PAWASKAR NAGENDRA PANT VIPIN HARDWARI KHANDELWAL VISHAL GAVAS JAVEER RAMCHANDRA BAPU LAKSHMI NARAYANAN AJAY VASANT SAWANT Calicut Insurance Institute VINOD KUMAR VADAKKUMPATT VINOD MANI K. P. Chandigarh Insurance Institute J. NAGESWARA RAO ASHWANI SETHI Oriental Others LIC Oriental COMPANY DIPLOMA NAME OF THE CANDIDATES NO. 48583 49289 50546 111 49292 112 42322 43439 43456 43458 45108 45363 45366 46092 46725 46726 46765 47325 47331 47955 47961 47965 47966 47981 47989 48006 48011 48600 48602 48603 48605 48607 48608 48610 48611 48612 48613 48614 48616 48618 48619 SANJEEV ARORA DHARAMVEER SINGH NEERAJ DUDEJA Coimbatore Insurance Institute DEEPAK M. MATHEWS Delhi Insurance Institute BHUPINDER SINGH NARINDER KUMAR SUDHIR KUMAR VIRENDER KUMAR ANJNA RANI DHANANJAY KUMAR AMAN PATHAK SEEMA RASTOGI JHARNA BHARDNAJ GAUTAM SUMIT BHATIA BIBHA AMIT ANANAD MOHIT SARAF SANDEEP KHANDELWAL MEENAKSHI GUPTA SHOBHIT KUMAR HEMA THAKUR SUNIL KUMAR SHIVANI SINGHAL MRIDULA SINGH MANJEET KAUR KAVITA KALRA SANTANU KUMAR DUTTA SUMIT MANOJ BHARDWAJ KARAN MALHOTRA RAMESH CHAND TYAGI VAAMI PATNI CHHANDA SARKAR SANJIV BHARDWAJ SWATI GUPTA RENUKA CHAWDHRY NAVEEN SINGH GOSAIN VIJAY KUMAR AMIT SHARMA SHRUTI AGARWAL Others New India Oriental LIC LIC LIC Others LIC Private General Private General Bajaj Allianz G Student Others Student Others Others Others Iffco Tokio Gen United India United India LIC Oriental Oriental Surveyors Others Others Student Others Others Student Oriental Others LIC
Royal Sundaram G

COMPANY

New India Others Others Others Student Others Others LIC LIC Oriental Oriental Others United India New India HDFC Standard L Reliance Life Others LIC Others Others GIC New India United India United India LIC LIC New India Others Student Kotak Mahindra L New India LIC New India

New India New India Others

Others

TALEGAONKAR SHRIKANT RAMCHANDRA United India

PRAJAKTA CHANDRASHEKHAR KIRKIRE HDFC Chubb Gen

Student

68

55th
DIPLOMA NAME OF THE CANDIDATES NO. 48625 48627 48628 48629 48631 48632 48634 48636 48637 48638 48642 48643 48644 48646 48648 48651 48654 48655 48656 48657 48658 48659 48660 48661 48662 48663 48664 48665 48666 48668 48669 48806 48831 48854 48943 49297 49301 49306 49307 49308 49309 SAURABH PANDEY SURAJ SINGH NEGI RAVINDER RATHEE AMIT SEHGAL AMIT KUMAR ROHIT KUMAR KHUDANIA SANGEETA NAVNEET RAVIKAR VEMKATA SURYAKUMAR KOTA RITESH KUMAR SIMRAN KAUR GUNJAN PAHWA PRARABDH KOOMAR DEEPAK THAPA KUMUD MALHOTRA CHHAVI MANOCHA DEEPAK SINGH SHARMA DINESH ANOOP GOLASH GURMEET KAUR SEEMA CHAWLA DINESH GUPTA SAROJ BALA MALHOTRA ANJALI MANJU SETH JIGNESHKUMAR R. SINGLA TARA GUPTA PANKAJ SHARMA GURINDER KAUR LOKESH YADAV RIPU DAMAN REWRI ASHISH CHATURVEDI ROSHINI S. KETAN SINGHAL PARITOSH BISWAS RAJAGOPAL RUDRARAJU VIRENDER KUMAR AMAN GROVER VIDHI PANKAJ AJAY DAHIYA COMPANY Bajaj Allianz G Iffco Tokio Gen Iffco Tokio Gen Student LIC Student Others Iffco Tokio Gen Others Tata AIG Life Student Oriental Oriental Others Others Aviva Life Student Others United India United India Oriental LIC United India Oriental National LIC New India Others LIC New India LIC Private General Others Others Oriental Others LIC Others Others Student Others

ANNUAL REPORT & ACCOUNTS 2010-11


DIPLOMA NAME OF THE CANDIDATES NO. 49310 49311 49314 49315 49318 49319 49320 49323 49324 49325 49329 49330 49331 49332 49336 49340 49341 49343 49344 49347 49348 49349 49352 49353 49354 49355 49356 49357 49358 49360 49362 49365 49366 49368 49369 49476 49681 49757 5007 50018 50036 AISHWARYA MOHAN GAHRANA RITU KHATRI GULSHAN SETIA ABHISHEK RANA MADHU CHANDEL MOHD YAMIN RUCHIKA KHANDELWAL ANKIT GULATI SANJEEV KUMAR GARG AANCHAL AGGARWAL MUKESH KUMAR ARTI GUPTA BHAWNA ARORA KAPIL KALRA GAURAV GARG MANSI SHARMA SANDHYA GOYAL GEHANI RAJIV GAGANDEEP SINGH GOEL SHIVANI KANIKA CHOPRA SMRITI KUMARI BATRA RAJINDER KUMAR SHAILENDRA SHARMA PRANJI TIKOO ANIL KUMAR DHINGRA RAVI SHANKAR SETHI ANJALA RANI KESHAV KUMAR RAJNI BATHLA NARESH KUMAR CHANDOLIA HEMA CHHABRA PUSHPANJALI BINDAL VINAY KUMAR JAWAHAR LAL MOHAN LAL MEENA UMESH KUMAR GARG MITHLESH SHARMA PRATHVI RAJ MEENA MANESH YADAV ABHISHEK KEDIA COMPANY

Student Max Newyork L Others Bajaj Allianz G Others Surveyors Iffco Tokio Gen Student Others Student Others Oriental Student Others Bajaj Allianz G ICICI Lombard G Others Student Others Others Others Student Others New India LIC Oriental Oriental New India Oriental Oriental United India Oriental Others United India Oriental LIC Oriental LIC New India Others Bajaj Allanz

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DIPLOMA NAME OF THE CANDIDATES NO. 50048 50052 50054 50094 50347 115 49274 49373 49374 49375 49377 49378 49379 49380 49381 49385 49386 49388 49684 50101 50102 50103 50104 50105 50107 50109 50111 50112 50113 50114 50117 50119 50121 50124 50125 50127 119 47398 48056 48697 48698 DEVANG NIMESH SHAH GAJENDER SINGH RATHI GOPAL KRISHNAN ANITA RAHUL JAIN Ernakulam Insurance Institute C. KRISHNA DAS BIJU VAS S. SREELA RANI S. L. SAJU R. AJITHA MENON JOBY THOMAS SUNI JOSE GOVIND S. NAIK SUKUMARY A. K. JAYACHANDRAN V. K. V. J. JENCY RAJALAKSHMI O. KESAVCHANDRAN P. P. PRAMOD PULARI DEEPTHI A.K. SUMITHA GEORGE RENNY POLLY JASMINE FABER SOOSAN JOSEPH ASWATHI P. R. R. SARITHA P. SIMMI SANKAR SUMITHA SOMAN ASWATHI P. T. CHANDRAN P. R. LEELADEVI P. K. MEENA B. NAIR A. M. SREEJA K. GAYATHRI BINI S. Hyderabad Insurance Institute RAMESH MADAMSHETTY BANDI MADHAVI JARAPALA LELA ROY PRABHAKAR United India United India National United India LIC Others National Oriental Others Others LIC New India New India United India Oriental United India Others United India Oriental Others National Others Oriental Oriental Royal SundaramG United India LIC LIC National LIC United India Oriental National National COMPANY DIPLOMA NAME OF THE CANDIDATES NO. 48709 48711 48714 48715 48717 48719 48720 48722 49404 49405 49408 49415 49480 120 47466 48072 48076 48081 48088 48089 48731 48737 48738 48739 48740 48741 48743 48745 48746 48748 48749 48750 48752 49421 49425 49433 49435 49439 49445 49452 50164 K. PADMA G. JANAKI SASHI BABU AYYAGARI CHANDRA SEKHAR SYED YOUSUFUDDIN VASUDHA ATMAKUR VEENAKUMARI THANGIRALA N. NIVEDITA REDDY PARAMESWARAN NARAYANA V. N. SWATHI KOTA NAVEEN KUMAR NANDAMUDI INDRAGANTI JANAKI SUDHA SWATHI GORANTLA VEDULA POONAM Indian Insurance Institute TARAKNATH CHATTOPADHYAY TAPAS KUMAR SATPATHI MONAMI PANJA RAVI SHANKAR SANCHAY GHOSH ANIMESH GANGULY PANKAJ KUMAR KAR AMITAVA BOSE SUMAN SINHA SANJOY KUMAR BATABYAL RUNA VERONICA GOMES SHYAM SUNDER JINDAL CHANDREYEE GHOSE SAIBAL CHOWDHURY ARCHANA SETHIA PARAMITA GANGULY AVIJIT DAS ASHISH KUMAR DINDA UMESH KUMAR KAKALI ADHIKARI ARNAB KUMAR DAS CHOWDHURY KAUSTAV MITRA PRAVEEN SHARMA PRANABESH DALUI JAYITA DAS PRATHAMA PAUL AHGSAUMAH ROY LIC Others LIC LIC LIC LIC Tata AIG Life Others ICICI Prudent L Tata AIG Life Met Life India ICICI Prudent L Others ING Vysya Life Student LIC LIC LIC LIC LIC Max Newyork L Student ICICI Prudent L Others Allianz Bajaj LIC LIC COMPANY

Student ICICI Comba Oriental New India Others

New India New India Others Others Others Oriental New India New India Others ICICI Prudent L HDFC Standard L Student Student

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DIPLOMA NAME OF THE CANDIDATES NO. 50169 50187 50207 121 48061 48069 48728 48751 49422 49423 49428 49429 49430 49432 49436 49437 49438 49446 49449 49450 49451 49453 49455 49457 50189 50192 50194 50201 122 42930 45488 47472 48759 48881 50214 50219 124 49463 49464 49466 BIPASHA SANYAL SANGITA BOSE FARUKUZZAMAN MONDAL Indian Insurance Society PABITRA BOSE SAURAVGHOSH RICHA TANTIA SAMIR PATRA AJAY KUMAR VERMA YOGESH RAM NAGAR SUTAPA DAS SOMA ROY SHRENIK BOTHRA SATISH KUMAR BITAN BHOWMICK ARIJIT SARKAR BIKASH KUSUM GHOSH ARUP KUMAR BISWAS SUKUMAR PRODHAN SUBRATA KUMAR NANDY GOUTAM KUMAR GHOSH SANGHAMITA BASU DIPNARAYAN BOSE CHANDRA MOHAN MANNA KUNAL CHOWDHURY GOURAB DIPTA SAHA TAPAS RANJAN SWAIN ASIS SHAH Indore Insurance Institute HARDEEP SINGH CHHABRA SHRIKANT IYER DEEP GUNDEGAOKAR CHETANPURI GOSWAMI CHINTAN SHAH ANSHUL MATHE VARSHA SHARMA Jaipur Insurance Institute RATTI RAM BABERWAL RAM DAYAL MEENA DAMODAR PRASAD SHARMA GIC New India Others New India Others Oriental LIC Others Reliance Life LIC Others Tata AIG Gen Student Govt Employee National National Others National Others National Others Others Others New India New India National New India Oriental New India National Bajaj Allianz G National National National COMPANY Private Life LIC LIC

ANNUAL REPORT & ACCOUNTS 2010-11


DIPLOMA NAME OF THE CANDIDATES NO. 50228 50240 50244 125 48780 49478 126 49479 127 48787 49483 128 50263 130 48813 48815 49506 49507 49512 49514 49515 49516 49517 49520 50278 50281 50284 132 28204 50290 50297 GORDHAN DAS AGARWAL SAPNA AGGARWAL SHESH NARAYAN RAIGAR Jalpaiguri Insurance Institute BALJIT SINGH GULSHAN TIRKEY Jamshedpur Insurance Institute BINOD KUMAR GUPTA Jodhpur Insurance Institute TULSI RAM BHATI MAHIMA DHARIWAL Jullunder RISHI KANT Lucknow Insurance Institute RAJIV KUMAR KISHORE SHARMA RITESH MISHRA HEMENDRA GUPTA ASHWANI PATHRIA PARITOSH KUMAR ANOOP KUMAR SRIVASTAVA AJAY KUMAR SRIVASTAVA BHUWAN CHANDRA PANDEY SUSHMA KHANNA NEELAM KUSHWAHA JAINENDRA KUMAR TIWARI RAJNI VERMA Madras Insurance Institute M RAVI KALPANA R. RANJEETH NAMBIAR NT Others Student Others United India Oriental Aviva Life ICICI Prudent L Max Newyork L United India National Oriental United India LIC LIC LIC United India Others Others Student Surveyors Others New India COMPANY

Others LIC New India

133 Madurai Insurance Institute 48850 48851 49551 49552 49677 50322 RATHI MALA P. K. SIVARANI T. R. NATESH BAPU E. PAULSUNDAR L. ANTONY SELVAN T. VIJAYA ICICI Lombard G LIC New India LIC National United India

71

INSURANCE INSTITUTE OF INDIA


DIPLOMA NAME OF THE CANDIDATES NO. 50326 50327 50591 134 49555 136 49556 137 49559 138 48865 48866 49093 49560 49565 140 49259 49335 49576 49579 49590 49591 50362 142 47601 49597 49600 49601 49602 50372 50374 143 48906 49604 49605 50375 50376 50540 S. GANSUL MAHAREBHA V. GRECY MEENAKSHI S. SHAHUL HAMEED Meerut Insurance Institute MANPREET OBEROI Mysore Insurance Institute PRASAD L. R. Nagercoil Insurance Institute N. BALASUBRAMANIAN Nagpur Insurance Institute APARNA SEAL ARCHANA RAJESH SAXENA YUWARAJ GANGARAM HEDAOO USHA MAHESH PALI NARESH DNYANESHWAR BOKDE Pune Insurance Institute ANAHAT MRIDUL ASHISH AGARWAL SUNIL BUCHIRAJ KEERTI DILIP SHALIGRAM KATKE PAYMODE BABAN SAVALERAM SHAILAJA PRADEEP KULKARNI Patna Insurance Institute NIRAJ NAGENDRA PRASHANT KUMAR KAMESHWAR SINGH ARVIND KUMAR RANJAN RABISH KUMAR SRIVASTWA NIRANJAN KUMAR RAWAN KUMAR Raipur Insurance Institute PRADEEP KUMAR RANGARI MOHAN KUMAR SHRESHTA SHIV KUMAR DEWANGAN RITESH GANGRADE KAVITA TANWANI MANDEEP SINGH SOLANKI Oriental United India LIC ICICI Lombard G LIC LIC Oriental Reliance Gen Oriental Oriental National LIC LIC Student Others Bajaj Allianz G LIC United India United India LIC LIC Oriental LIC United India National Surveyors Birla Sun Life COMPANY DIPLOMA NAME OF THE CANDIDATES NO. 145 49608 148 48926 48927 48928 48932 48933 48935 149 49621 49622 151 48940 49049 49629 50403 152 49201 49206 Salem Insurance Institute M. SHANMUGAVADIVELU Surat Insurance Institute PACHCHIGAR CHETNA DEEPAKBHAI MUKESHBHAI KANCHANLAL PATEL RINU AGARWAL UMESH SHARMA SHANKAR BHADURY Thanjavur Insurance Institute K. BALAMANI KAMALAMBAL R. Trivandrum Insurance Institute SYAM KUMAR B. G. SREEJITH V. MINCY MATHEW SREEDEVI A. MENON Udupi Insurance Institute DEEPIKA K. RAMESH NAIK K. LIC National Others Student Others LIC United India Private Life Others National ICICI Prudent L Others New India Others COMPANY

ICICI Prudential LIC LIC

JOSHI KALPESHKUMAR HARISHCHANDRA Others

DUDHADE DNYANESHWAR GOVINDRAO LIC

153 Utkal Insurance Institute 49634 49637 49640 49643 50420 154 49647 49648 155 49652 156 48959 49656 49657 49658 49659 BHARAT NAYAK NILANCHAL MAHAPATRA SATYAJIT KUMAR GYASUDDIN KHAN TAPAN KUMAR DASH Varanasi Insurance Institute SHRUTI GUPTA NEHA VERMA Vijayawada Insurance Institute PEDOURI SRINIVASA RAO Visakhapatnam Insurance Institute RABINDRA KUMAR RATH SAROJ KUMAR PATRA ANADI CHARAN ROUL SRINIVAS KAMUJU AKUNDI LAKSHMI NARAYANA RAO New India SBI Life Others Met Life India Others National Student Student Others Allianz Bajaj Others Oriental LIC

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DIPLOMA NAME OF THE CANDIDATES NO. 161 49661 163 48964 49664 164 48299 49669 49670 49672 168 49734 173 48334 48490 49004 49005 49006 49008 49010 49012 49013 49693 49694 49696 49698 174 49700 176 49701 49704 49706 181 49038 191 49736 Cuddapah Insurance Institute ALAMURU VENKATESWARLU Bhopal Insurance Institute ROSE PRADHAN RAKESH KUMAR CHOUREY Kolhapur Insurance Institute ARVIND DEVIDAS VENIKAR VASUNDHARA MIRJE SUHAS SHRIRAM KULKARNI PRITI BHASKAR VENGURLEKAR Dibrugarh Insurance Institute INDERDEEP KAUR Vadodara Insurance Institute SHISHIR JAISWAL PARMAR SHANKARBHAI AMBALAL TUSHAR NARAYAN DASHARATH PANDYA MUKTI DHAVAL YATIN ARVINDBHAI PATEL KAVITA JAYESH VASHI PARIKH JAWNIKA DEVANG SUDHA ASHUTOSH AHLUWALIA KESWANI GHANSHYAM HOTUMAL KAPIL RAMESHBHAI RUPANI JAIN RITU ANIL KUMAR HEMANT R. PATEL DASHARATH DIVYA TUSHAR Pondicherry Insurance Institute SUBIN D. Udaipur Insurance Institute POOJA SANADHYA ARUNA CHELAWAT GHANSHYAM SINGH SOLANKI Aurangabad Insurance Institute KULKARNI SUNITA MILIND Raichur Insurance Institute SHAILAJA RAVI LIC LIC Others Others Oriental Student United India New India LIC Others LIC LIC LIC United India United India Private Life Others HDFC Standard L LIC Private Life United India Max Newyork L Others Others LIC LIC LIC COMPANY

ANNUAL REPORT & ACCOUNTS 2010-11


DIPLOMA NAME OF THE CANDIDATES NO. 203 50557 206 47706 49077 207 48686 49382 49766 208 49767 49768 209 49770 50568 214 49392 49775 49777 49778 219 47784 49783 226 49135 228 35250 36577 48462 49138 49140 49141 49791 49792 49793 49794 Gorakhpur Insurance Institute RAMA KANT SRIVASTAVA Bikaner Insurance Institute AJAY SALUJA MOHD. ABDUL HADI Kottayam Insurance Institute RANI RENJINI R. KAMALAM C. V. NEBUZACHARIAHS THOMAS Vellore Insurance Institute SARAVANAN SUBRAMANIUM PADMANATHAN A. Haldwani Insurance Institute JEEVAN CHANDRA JOSHI HEM CHANDRA PANT Nellore Insurance Institute MIRAVAH HANUMANAYAK K. SANKAR REDDY DEVULAPALLI SAILAJA K. JAYA KRISHNA SREE Satna Insurance Institute MOHAN SINGH SANGITA YADAV Aligarh Insurance Institute PRAVEEN KUMAR SAXENA Hazaribag Insurance Institute ARUN SINHA MR RAJESH KUMAR AANAND GAURAV ABHIJIT GHOSH RAMAN BALLABH BIRENDRA KUMAR SINGH MAHESH KUMAR RASTOGI RAJEEV KUMAR SINHA KAMLESH KUMAR RADHA MOHAN PRASAD LIC LIC Private General Surveyors Others LIC SBI Life LIC HDFC Standard L New India LIC LIC LIC National National LIC LIC New India Others SBI Life United India LIC LIC LIC LIC LIC LIC COMPANY

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INSURANCE INSTITUTE OF INDIA

STATEMENT OF REIMBURSEMENT FOR GENERAL & EDUCATIONAL ACTIVITIES & LIBRARY MADE TO THE ASSOCIATED INSTITUTES
SR. NO. 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 NAME OF THE INSTITUTE Agra Ahmedabad Ajmer Aligarh Aurangabad Bangalore Bhilai Bhopal Bhavnagar Belgaum Calicut Coimbatore Dehradun Delhi Dharwad Dhubri Guntur Gorakhpur Hazaribag Haldwani Hyderabad TOTAL LIBRARY RS. RS. 10988 29305 13899 3440 7345 35819 750 19270 819 3318 18580 24039 750 113362 10936 2050 6794 2143 11475 2321 45009 3877 2625 3709 3929 675 2077 TOTAL RS. 10988 29305 15976 3440 8020 35819 750 23199 819 3318 18580 27748 750 115987 10936 2050 6794 2143 11475 2321 45009 34497 22418 4518 3662 19453 30522 1885 11321 SR. NO. 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 NAME OF THE INSTITUTE Kottayam Lucknow Machilipatnam Madurai Mumbai Mysore Nagercoil Nagpur Nanded Nellore Pondicherry Pune Raipur Rajkot Rajahmundry Salem Silchar Shahdol Thanjavur Trivandrum Udaipur Udupi Utkal Vijayawada Visakhapatnam Warangal TOTAL LIBRARY RS. RS. 13302 30159 2349 13691 74002 6280 3932 13025 2791 6069 5637 24286 3831 7471 8300 8412 2684 2228 7438 8896 10171 3709 17170 9294 11041 5752 772371 44180 5000 1095 3450 3121 2533 1207 1164 1538 TOTAL RS. 14466 31697 2349 14898 74002 6280 3932 13025 2791 6069 5637 24286 3831 7471 8300 10945 2684 2228 10888 12017 10171 3709 18265 9294 16041 5752 816551

Indian Ins. Institute 30620 Indian Ins. Society 22418 Indore Jaipur Jodhpur Kolhapur 14935 26860 1885 11321

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SR. NO. 1 2 3 4 5 6 7 8 9 NAME OF THE INSTITUTE Trivandrum Insurance Institute Bhopal Insurance Institute Udupi Insurace Institute Hyderabad Insurance Institute Agra Insurance Institute Utkal Insurance Institute Ahmedabad Insurance Institute Dharwad Insurance Institute Madurai Insurance Institute COMPUTER SUBSIDY 22920 23040 19200 25000 25000 24760 18400 21360 25000

ANNUAL REPORT & ACCOUNTS 2010-11

STATEMENT OF REIMBURSEMENT OF COMPUTER SUBSIDY TO THE ASSOCIATED INSTITUTES


SR. NO. 10 11 12 13 14 15 16 17 NAME OF THE INSTITUTE Jodhpur Insurance Institute Jaipur Insurance Institute Guwahati Insurance Institute Gwalior Insurance Institute Aligarh Insurance Institute Pondicherry Insurance Institute Nagercoil Insurance Institute Bhavnagar Insurance Institute Total Reimbursement COMPUTER SUBSIDY 25000 25000 25000 25000 24000 25000 25000 25000 4,03,680

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INSURANCE INSTITUTE OF INDIA

ANNUAL CONFERENCES
First President : C.R.C. Gardiner, OBE, FIII (1955-56) Year 1956 1957 Place Bombay Bombay President G.R.C. Gardiner T.K. Desai Inaugurated by M. C. Setalvad, Attorney - General H.M. Patel, I.C.S., Principal Secretary, Ministry of Finance G.P. Kapadia President, Indian Merchants' Chamber B.K. Kaul, Joint Secretary, Ministry of Finance

1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970

Bombay Calcutta Madras New Delhi Hyderabad Bombay Ahmedabad Kanpur New Delhi Calcutta Bangalore Chandigarh Madras

B.K. Setalvad M.G. Mody

K. Balasubrahmanyam Bishnuram Medhi, Governor of Madras B.C. Rakshit G.H. Thakore S.K. Desai V.H. Vora S.D. Srinivasan S.D. Srinivasan N.N. Seth V.H. Vora D. Hammond Giles K.L. Gupta Dr. N.K. Sidhanta, Vice-Chancellor, Delhi University Bhimsen Sachar, Governor of Andhra Pradesh P.C. Bhattacharya, Governor, Reserve Bank of India Mehdi Nawaz Jung, Governor of Gujarat Lakshmipat Singhania, President, National Insurance Co. Ltd. Indira Gandhi, Prime Minister of India Sir Biren Mookerjee G.S. Pathak, Governor of Mysore Dr. D.C. Pavate Governor of Punjab Sardar Ujjal Singh, Governor of Tamil Nadu

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Year 1971 1972 1973 1974 1975 1976 1977 Place Bombay Indore Bombay Calcutta Ahmedabad Chandigarh President T.P. Panthakey R.M. Mehta R.M. Mehta K.P. Modi K.P. Modi K.P. Modi S. Rangarajan

ANNUAL REPORT & ACCOUNTS 2010-11


Inaugurated by Harish Mahindra, President, Indian Merchants' Chamber Satya Narain Sinha, Governor of Madhya Pradesh Ali Yavar Jung, Governor of Maharashtra No Conference due to change of Constitution A.L. Dias, Governor of West Bengal K.K. Viswanathan, Governor of Gujarat T.N. Chaturvedi, Chief Commissioner, Union Territory, Chandigarh Jothi Vencatachellum, Governor of Kerala K.C. Abraham, Governor of Gujarat B.N. Deshmukh, Chief Justice, Bombay High Court Sadiq Ali, Governor of Tamil Nadu Sharda Mukherjee Governor of Gujarat B.D. Pande, Governor of West Bengal Dr. V.K.R.V. Rao National Professor Dr. R.S. Mishra Vice-Chancellor, Lucknow University P. Ramachandran, Governor of Kerala H.L. Kapur, Lt. Governor of Delhi 77

1978 1979 1980 1981 1982 1983 1984 1985 1986 1987

Trivandrum Hyderabad Bombay Madras Ahmedabad Calcutta Bangalore Lucknow Trivandrum New Delhi

R.K. Daruwalla R.K. Daruwalla J.R. Joshi S.P. Gupta A.S. Gupta A.S. Gupta R.V. Madhava Rao R.V. Madhava Rao M.G. Diwan M.G. Diwan

INSURANCE INSTITUTE OF INDIA


Year 1988 1989 1990 1991 1992 Place Madras Jaipur Panaji (Goa) Ahmedabad New Delhi President S.K. Seth S.K. Seth G. Chidambar G. Chidambar A.S. Mitra Inaugurated by G.V. Ramakrishna, IAS, Advisor to Governor of Tamil Nadu Sukhdev Prasad, Governor of Rajasthan Vassudeva V. Dempo Inudustrialist J.N. Bhatt, Judge, Gujarat High Court K.J. Reddy, IAS, Spl. Secretary (Ins.) Ministry of Finance M. Jagannadha Rao, Chief Justice, Kerala High Court Dr. N.R. Shetty Vice Chancellor, Jnana Bharati Bangalore University Prof. A.A. Abbasi, Vice Chancellor, Devi Ahilya Vishwa Vidyalaya, Indore Mahabir Prasad, Governor of Haryana and Himachal Pradesh N. Rangachary, Chairman, Insurance Regulatory and Development Authority Dr. M.R. Rao, Director, Indian Institute of Management, Bangalore D. Sengupta, Chairman, G.I.C. of India Dr. C. Rangarajan, Governor of Andhra Pradesh Vishnukant Shastri, Governor of Uttar Pradesh 78

1993 1994

Ernakulam Bangalore

A.S. Mitra S.P. Subhedar

1995

Indore

S.P. Subhedar

1996

Karnal

Y.D. Patil

1997

New Delhi

Y.D. Patil

1998

Bangalore

R.N. Tripathi

1999 2000 2001

Jaipur Hyderabad Lucknow

R.N. Tripathi D. Sengupta D. Sengupta

55th
Year 2002 Place Aurangabad President G.N. Bajpai

ANNUAL REPORT & ACCOUNTS 2010-11


Inaugurated by Govind Das Shroff, Freedom Fighter and Recipient of Padmabhushan Award Ashish Kumar Banerjee, Vice-Chancellor, Kolkata University Dr. M. Khajapeer, Vice Chancellor, Karnatak University Vilasrao Deshmukh, Chief Minister of Maharashtra Dr. Ravindra Shetty, CEO, Ayukta Medinet Health Pvt. Ltd., Bangalore Dr. G. Thiruvasagam, Vice-Chancellor, Bharthiar University, Coimbatore N.K. Jain Vice-Chancellor, University of Rajasthan (could not be present) Prof. Hari Mohan, Director, K.M. Munshi Institute of Hindi and Linguistics, Agra Prof. Y. Satyanarayana Vice-Chancellor of AP Law University, Visakhapatnam

2003 2004 2005 2006

Kolkata Dharwad Mumbai Bangalore

G.N. Bajpai R. Beri R. Beri A.K. Shukla

2007

Coimbatore

T.S. Vijayan

2008

Jaipur

T.S. Vijayan

2009

Agra

T.S. Vijayan

2010

Visakhapatnam

M. Ramadoss

79