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S.A.R.
t tft-_,pM"-·BPP
ASSOCIATES
CHARTERED ACCOUNTANTS
Independent Auditor's Report

To the Shareholders of Lumbini General Insurance Company Limited
Report on the Au dit of the Financial Statements (Amended)
Opinion
We have audited the amended financial statements of the Lumbini General Insurance Company Limited
(the "Company"), which comprise the amended statement of fina ncial position as at Ashadh 32, 2079
(July 16, 2022) , and the amended statement of profit or loss, amended statement of comprehensive
income, amended statement of changes in equity a nd a mended statement of cash flows for the year then
ended, and notes to the a mended financial statements, including a summa ry of s ignificant accounting
policies.
Jn our opinion, the accompanying ame nded financial statements presents fairly, in all material respects,
the amended financial position of the Company as at Ashadh 32, 2079 (July i6, 2022), and of its financial
performance and its cash flows for the year then ended in accordance with Nepal Financial Reporting
Standards.
Basis for opinion
We conducted our audit in accordance with Nepal Standards on Auditing (NSAs). Our responsibilities
under those standards are further described in the Auditors Responsibilities for the Audit of the Financial
Statements section of our Report. We are independent of the Company in accordance with the !CA.N's
Handbook of Code ofEthics for Professional Accountants together with the ethical requirements that arc
relevant to our audit of the linancial s tatements in Nepal, and we have fulfilled our ot her ethical
responsibilities in accordance with these requirements and lCAN's Handbook of Code of Ethics for
Professional Accounta nts. We believe that the audit evidence we have obtained is s ufficient and
appropriate to provide a basis for our opinion .
Emphasis of Matter-Basis ofA mendment

After issuance of our independent auditor's report dated December 28, 2022, the management has
prepared the attached amended financial statements as per the direction of Nepal Insurance Authority.
We would like to draw your attention to changes in Gross Change in Contract Liabilities, Commission
income and Commission Expenses in Statement of Profit or Loss; and Deferred Tax Assets, Reinsurance
Assets, Other Assets, Other Liabilities, Retained Earnings and Other Equity in Statement of Financial
Position; a nd other statements on account of such revision. Our procedure for aud it of this amended
fin ancial statements is limited to review of financial information as amended as per the dfrection of Nepal
Insurance Authority.
Key Audit Matters
Key audit matters are those matters that, in our professional judgement, were of most significance in the
audit of the financial statements of the current period. These matters were addressed in the context of the
audit of the financial statements as a whole, and in forming our opinion thereon, and we do not pro";de a
separate opinion on these matters. We have determined the matters descnbed below lo be the key audit
matters to be communicated in our report.
S.N Kev Audit Matters Auditor's Resoonse
1. Revenue Recot,'l1ition (Net Barned Our audit approach regarding verification of process
Premium) of premium included:
Company recognizes gross ea rned premiums after a. Understood and tested the design,
deducting unearned premium reserves from Direct implementation and operating effecti veness of key
Premium. Net liarned Premium is delived after contt·ols over premium collection and its
deducting ceded reinsurance premium from gross recognition.
earned premium. Direct premiums comprise the b. Tested on a sample basis unallocated
total premiums receivable for the whole period of premium lo ensure that there were no
CO\'er provided by contracts entered during the policies where risk commenced prior to
reporting period. They are recognized on the date balance sheet but revenue was not recognized.
on which the policy commences.
c. Tested on a sample basis cash receipt with the
IUnearned oremiums nre those orooortions of time stamp to confirm the recognition of
6 \ . '; ·;;;...
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premiums written in a year that relate to periods of the revenue in correct accounting period
risk after the reporting date. Unearned premiums
arc calculated on a daily pro rata basis. The
proportion attributable to subsequent periods is
deferred as a provision for unearned premiums.
2. Inves tment Valuation , Identification, and Our audit approach regard ing verification of process
Impair ment of investment valuation, identification and
NRFS - Investment of the company comprises of impairment included:
investment in in quoted equity instruments,
debentures, mutual funds, fixed deposits of financiala. Review of the investment of company and its
institutio ns. The valuation of the aforesaid securitiesvaluation having reference to NFRS issued by the
has been done in compliance with NFRS 9. The Accounting Standard Board of Nepal.
investment in the government and NRB bonds and b. We assessed the nature of expected cash flow of
T-bills should be recognized on reporting date on the investments as well as the business model
Amor1ized cost basis whereas other investments in adopted by the management on the basis of
equity instruments, other than those held for available evidence/circumstances and ensured
trading, should be valued at Fair Value through that classification of investment is commensurate
Other Comprehensive Income. with nature of cash flow and management
Given the varieties of treatments recommended for intention of holding the investment.
valuation of investment based on nature of cash c. For the investment valuation that are done at
flow, the business model adopted, complexity of amortized cost, we checked the EIR and
calculations and the significance of amount involved amortization schedule on test basis.
in such investments, same has been considered as
Key Audit Matter in our audit. d. For the investment valued t hrough OCI for quoted
investment, we ensured that fair valuation has
been done at the closing t ransaction rate in
NEPSE as on Ashadh 32, 2079 (16.07.2022)
3. Provision for Outstanding Cl aim Our aud it approach regarding provision for
Company makes the provisions of an amount of outstanding claim of company is based upon the
100% of the remaining amounts of the payment requirement of NFRS.
against the claim made by company before the
expiry of financial year and Claims Incurred but Not a. Verified operational guidelines of the company
Reported (IBNR) is recognized as higher of 15% of relating to claim processing, have performed test
outstanding claim or that determined by actuarial of co ntrols, test of details and analytical
methods. procedures on the outstanding claims.
b. For the claim cases which has been incurred but
Given that the provision is required to be made in not reported and cases in which claim has been
respect of outstanding claim and complexity of reported but not enough reported these cases has
calculations, same has been considered as Key Audit
Matter in our audit. been captured by the actuary appointed by
company. The actuarial valuation of liability in
respect of Claims Incurred but Not Reported
(IBNR) and those Incurred but Not Enough
Reported (IBNER) as at Ashadh 32, 2079
(16.07.2022) is as certified by the company's
Appointed Actuary and we had verified the
amounts and the related liability based on such
repo1t.
4. In forma tion Te chnology General Contro ls Our audit approach regarding Information
IT controls with respect to recording of t ransactions, technology of company is based upon the
generating various reports in compliance with Information Technology Guidelines 2076 issued by
gu idelines of Nepal Insurance Authority and other Nepal Insurance Authority and it included:
compliances to regulators is an important part of the
process. Such reporting is highly dependent on the a. Understanding the coding system adopted by
effective working of Software and other allied company for various categories of products
systems.
b. Understanding the feeding of the data in the
We have considered this as key audit matter as any system and going through the extraction of the
control lapses, validation failures, incorrect input financial information and statements from the IT
data and wrong extraction of data may result in system existing in company
wrong reporting of data to the management, c. Checking of the user requirements for any changes
shareholders and regulators in the regulations/ policy of the company
d. Reviewed the reports generated by the system on
sample basis. We verified the premium
income/expense and claim payment in regard to
policies issued and claim intimated on test basis
..<
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16
Iiiformation Other than Financial Statem ents and Auditor's Report Thereon
Management is responsible for the other information. The other information comprises the information
included in Annual Report but does not include the financial statements and our auditor's report thereon.
The Annual Report is expected to be made available to us after the date of this auditor's report.
Our opinion on the financial statements does not cover the other information and we will not express any
form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information identified above when it becomes available and, in doing so, consider whether the other
information is materially inconsistent with the financia l statements or our knowledge obtained in the
audit, or otherwise appears to be materially misstated.
When we read such other information, if we conclude that there is a material misstatement therein, we
are required to communicate the matter to those charged with governance.
Responsibility of Management ancl Those Charged with Governance for the Financial
Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance v.1th Nepal Financial Reporting Standards and for such internal control as management
determines is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, management is responsible for assessing the Company's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless management either intends to liquidate the Company or to cease
operations, or has no realistic alternative but to do so.
Those charged with Governance are responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is high level of assurance but is not a guarantee that an audit
conducted in accordance with NSAs will always detect a material misstatement when it exists.
Misstatement can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on the
basis of these financial statements.
As part of an a~dit in accordance "'1th NSAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
• Identify and assess the risk of material misstatement of the financial statements, whether due to fraud
or error, design and perform audit procedures responsive to those risks, and obtained audit evidence
that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal
control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the
effectiveness of the Company's internal control.
• Evaluate the appropriateness of accounting polices used and the reasonableness of accounting
estimates and related disclosures made by the management,
• Conclude on the appropriateness of the management's use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the Company's ability to continue as a going concern. If
we conclude that a material uncertainty exists, we are required to draw attention in our auditoe
report to the related disclosures in the financial statements or if such disclosures are inadequate, to
modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our
auditor's report. However, future events or conditions may cause the Company to cease to continue as
a going concern.
17
-
We communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the aud it and significant audit findings, including any significant. deficiencies in internal
control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant
ethical requirements regarding independence, and to communicate with them all relationships and other
matters that may reasonably be thought to bear on our independence, and where applicable, related
safeguards.
From the matters communicated ·with those charged with governance, we determine those matters that
were of most significance in the audit of the financial statements of the current period and are therefore
the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes
public disclosure about the matter or when, extremely rare circumstances, we determine that a matter
should not be communicated in our report because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest benefits of such communication.
Report on the requirem en ts of Companies Act 2063, Insurance Act 2079 and Directives of
Nepal Insurance Au thori ty
We have obtained satisfactory information and explanations asked for, which to the best of our knowledge
and belief were necessary for the purpose of our audit; the returns received from the branch offices of the
company, though the statements arc independently not audited, were adequate for the purpose of the
audit; the financial statements have been prepared in accordance with the provisions of the Companies
Act 2063, and they arc in agreement with the books of accounts of the company; and the accounts and
records of the company are properly maintained in accordance with the prevailing laws.
To the best of our information and according to the explanations given to us, in the course of our audit, we
observed that adequate amount have been set aside for insurance fund and other statutory reserves as per
Directives of Nepal Insurance Authority; the business of the company was conducted satisfactorily in line
with the Directives of Nepal Insurance Authority, the company has not conducted any business other than
insurance business and has not issued any unauthorized policies and its transactions were found to be
within the scope of its authority. We did not come across cases of where the company has acted against
the interest of insured and investors. Further, company's internal control system is reasonably adequate,
and we did not come across cases of accounting related fraud and the cases where the board of directors
or any director or any office bearer of the Company has acted contrary to the provisions of law, caused
loss or damage to the company, or committed any misappropriation of the funds of company. Also, the
company has provided required financial and other information to its shareholders and company appears
to be able to se1ve its long-term liabilities out of its assets.
Isha Shrestha
Partner
Date: January 24, 2023

Place: Kathmandu
UDIN: 230205CA00726bgqkA
18
Lumblnl General Insurance Company Ltd.
..
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Statement of Financial Position

M atAshadh 32nd, 2079 (16 lh July, 2022)
l'llllcliln ,.. Cllmrtt l'tllr

Rg.111.NPR
l'nMIMll'l'illl'
Amil
lnta/'Jli*Ass!lb 4 1,938,488 2.142,500
f'rtmtY. Pllltall:l l'<l!lmellt 5 142,160,611 106,500,887
llM!Slment l'rope!W 6
Defe(red Tax Assels 7 11,027,818 35,249,433
llPlll:Wnlllt h SlblliW!eG 8
llM!Slment il~ 9 . .
Invest.men's 10 2,323,756,051 2,101,574,001
LOOllil 11 10,613,918 13,781,340
Rell!IJraiu N:!!lla 12 1,126,216,613 1,016,736,002
Qirrent Tax Asse1s """" 21 118,916.286 101,229,788
llW1JlOe~ 13 275,1)62,133 $19,952,300
Ollfl' ftSi!llis 14 138,680,511 93,174,202
Ollir R1aldi Asslltll 15 187,3Z.8.514 163,345,029
Cash 111d M l'qNaltm 16 154,230,337 217,878,308
1lllal Alllall 4,470,1148,239 4,173,565,500
£11Ully
SlmC&jial 17 (el 1,312,784,550 1,198,890,000
SlmlAmllalloo M,.._ f'llrl:lllaMlbntJI! 17 mi
Sh:I& Pnrniim 17rci
llWlll108 FilrXI 17(d) 793.463.971 728,548,580
eRaiMJve 17•.. 37,\BJ;J77 30,575,655
Retained Eanil'(I& 17(1) 96,715,451 127,735,810
Ollerf!JJ~ 17(g) 111,629,121 89,017,793
TOia! Ord_,, Sharehcilln ..,...,, 2,351,848,91!9 2,174,767,838
Llillllllel
~ 18 124,967JJ45 123,081,5.37
Gross ll\lllr.m& cmract l.lallllllles 19 1,627,949,569 1,600,775,062
Defe(red Tait Llimllllles 7
llSllllal """"'*"'
Cl!mint Tax llabllles ~
20
21
97,069,854
.
94,487,18$
.
Born71.1nm 22
otiir ~ L.Jmales 23 66,347;J37 57,232,008
Ollfl' I.Jamie& 24 2Q2R4H165 123221 070
Talll UlllllU111 Z.119,2111270 1,9911,797,883
Talal QrdhlrYSllulldiln - a LlllllllU111 4470MllDI 4.173~.r~
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Statement of Proftt or Loss
F()r the Year ended 32nd Ashadh, 2079
(For the Year ended July 16, 2022)
l'llllMn NDllll Cumntl'tlu Pn"1Dlll '1'91r

hcoma:
Gross Bmed Prenilms 25 1,426,746,937 1,428,319,862
Pnmk11ns Ceded 26 (8'2S,570,4W) (647,334,666)
Niii Eam lld Pre ml uma
Qlnmlsskl1 l1Y::Ome
'lJ
28
l!Ol,176,454
175,974,487
--..--.
580GJ.1>194
168,455.712
I~~ 29 193,292,625 149,27S,67!)
NetG:n/ ~ !Jl Fllr'llil& Cl!ar(llllS 30 . .
t«lt Reatled Gal'lsl (!Dsses) 31 . .
Oilier~ 32 28.998.as6 21,014,18!)
1illal hloma 999,442,612 919,7!11,7G6
i:xpen1ee:
0'0SS llalrm Paid 33 1,147,843,033 956,320,697
QitnsCeded 34 (619,379,S37) (5:)4,870,989)
aim~ kl Coolrad Llliillk 35(8) (130,251,009) 257,829,305
Qiange In Contmct l.Jalllllss Oededlll Rsmrera 35(bj 90,217,167 (317,868,548)
NIll a.tns l'llll 488,4211,723 341,410,488
Conm&IOO Expirls9g 36 29,643,821 34,718,700
Sel\t:e Hies 37 6,508,137 7,571,123
EmlilYOO 0eoefls ~ 38 176,652,181 174,21)2,515
~:lldM1ortizalioo ~ 39 21,333,422 10,425,170
ll!llBllll'lll!t Losses 40 3,495,999 19,470,529
Oilier~ 41 76,006,474 69,103,001
fi!U'ICll Ccst 42 4,936,172 .
1IJtal Expe11181 ll07,e84,929 668~13
N.t ~ l'(irl'fleVW Bn't SIM of Net Plvfftl of Am:laa
Accanllld fQ rlllb;I fiQlltt Mllll1od and 1llll 191,747,6113 m;na,sss
Sim 01 Net Prott ofA'lsodats lmlU!Ed ustig BJJ~ Mett10ll 9 . .
Profit before • 191,747,683 282,711,35S
lrmneTax~ 43 00,485,295 82,018,031
Nat Pnft' lLCll) fllr Tiie '1'1111' 131,262,388 180,780,322
Eanlrvi pll" slwe 50
BaslcEPS 10.00 15.00
Rll!lm!EPS . 13.77
---
20
Lumblnl General Insurance COmpany Ltd.
..
.....__. ..,..,,.._
Sbitement of Total Comprehen•lve Income

For the Year ended 32.nd AshadA, 2079
(For the Year ended Jury 1e, 2022)
ir.rtkUn Cl! mint'lWr PnMow'IW

Nat Pl1l1ttl (l.oal F'cr The ~ 1S1,21!2,3llll 190,5S4,162
Olhlr Oln1nliBllSMI hcalrlil
e) tteme that in or may bo R' ' Hied IO Prollt er I.OM
ctlar(lelS ~ F<lr VIili& o1 FVOO Debt tismnsrns . .
cash Flow Heoge • Ellecll\e f'llr1loo 01 C/'jqes In flr\'iiie . .
El:d8lge (fle<eil)e(I ~~of l'ofl!Ol Ope!ilbl .
Shire at otlsr ~ l1¥:0me d associa!88 800IXl1l8d Ill' LUig 1he squitf msllod . .
Income Tax Reia11~ tlilmle llems .
Rel Wied 1D Prnl!t or Lms .
. .
b} lteml 1hlltn lllt ar l11llY not bit ABclallllltllld to ~ or i.- . .
ctlar(lelS ~ ill' vliJe of f\00 Fqilty lmtlmel!t! 81,Q46,678 9,011,529
flel:alJailn of~, Plant and EIJJIJrBl/ ll'la/dll9~ . .
Remem81Tlfl11 Ill M~ll',111l(t Berel!t o~ (6,893,325) 13,404,582
Shre o1 oiler~ lrmme d e.«>•l<l1.. ~Ill' ..mg 1he equltJ msllod .
Income Tax R.eia111YJ ti Abo\19 lllms ('22,516,006) [B,724,8l3)
.
TDlal other ComprellenlNe hlome rcr Ille 'fllar, NlltGf 'ID: 5ZS37,347 15,691,m
TlllaJ Ql11Jl1lhllnlMI lnt:a111 Forthll 'IW; Hat !'ITllX l&a,799,735 198,4S1,600
---
"7'1'~~~~flt 21
~I ~--...&.1........a;ttMWrrLTD. ~------------------
,.
......,__. .,_......_

Statement of C8•h Flow
Fer !he Year ended 32nd Aaha.dh, 2079
(For the Year ended July 16, 2022) R/1.111.Nl'R
Plttbjn i:ur..rtVW PrerilM 'Mr
Cllll FEw A'Dm Operalb;iAdllttllll:
ClslJ lll:l:eM:d
Glllill ~m R!aM11 1,594,173,382 1,338,922,696
Qlirmls.lloo fleooMld 202,912,186 47,121,106
tltn Recovely ReaMa tlxn Rlit\\lirera 619,379,537 5:)4,870,989
Reelllal F\J~n Emmge lnoome olt& flan on Cezil .Biil Cash EipJMll!m! -
Oilers lb be Spedlsd) 9,311,054 -
CmlJ Plld
G11maatml'lild (1, 147,843,033) (931 ,-408,856)
flell\!lJrance f'rllm~m Pakl (1,025,287,381) (798,141,928)
Coolnir131111 PaJil (29,398,149) (34,213,329)
SaWle F!l8s P.aid (4,808,933) (6,005,831)
Em~Bnlls ~Patl (227.195.453) {150,208.277)
Ollw~Patl (20,S46.~ (88A68A~
Oilers~ be ~8d) -
lrmne li!x Psld (71,318,396) {115,793.220)
Nat CUI! Flow l11llT1 Optql!ng ~ (1) {110,602,148) (183.355,1~
Cllll FEw A'Dm heltrQ/dtlllal
AllJ!lsl!imof'11m~e~ {154,000) (1,337,500)
~ l'llJ11 S.dl~llil~
AllJ!llifllm of~neit Prqld!s - -
Ploceeds Ff001 5ale d lnwstnent l'llipe1tes -
Re<iaJ lfll)lllj RleQeiyed
AllJ!lal'!im of l'rojlErt/, Pli1ll & BJJl!ll1ri (6,864.~1) (4,101.255)
Prooeeds Ff001 Slti d Pr~ Pmt& Ell'*rmnt 2.17,283 -
~for~d~llMlSll!M ln&JIBBBI
lll'lllStnsnt ~A!lsocl&! - -
Reoelp\! tlJn &lb d llMl6l.ITlools _, &bslllinl8 -
Reoelim tllm Sale d I - ~ JWo •mies
~of~ lrdl!llllllls (11,284,571) (195,000)
Prooeeds rrom Sale or BJJ~ hllrlmectl -
Pitdl2!I! ol IM.al Fulds
Proceeds frnm Sale of M!Ual Filrm - -
Plntelse of l'lvflJll!Q Shirer; -
Proceeds from Sale of Prefelln:& 5hre$ - -
f'lldl8se 01 llellenues - [5,000,000)
~fromSaleof~ -
~o!Bondl - -
Ploceeds frnm Sa.le of Ba1!tl - -
4(),200,000
llMIStnanlll In~ (128,950,000)
M8U1ty of Depo&'ts - -
Proceeds frnm Fl'lalDl l.ellle
laml'llld -
Proceeds trom Loan 3,167,422 (9'28,669)
llllrest lrmne RsoeMld 187,628,562 151,597,281
Dt.tl!nl Re<8>ed 3,193,534 584,241
Ollllll lol'I to Eml*l;<ees - -
Mil c.ti Flow ftllm m.u1111 Al:IMllel [2J 48,954,179 180.llZl,(198
22
..
.....__. ..,..,,.._
Statement of C.ah Flow

FOi' the Yeat ended 32nd A9hadh, 2079
(For 1M Year ended July 16, 2022) R(/.111.NPR
Clll! RllW f'lllm 1dMtlal

118alt f'aij -
Proooed& fer ~rra.irlg - -
Proceeds l\J' - -
""""""' of lhial lela8 -
Proceeds R'om lm! d Shire Claj*2J - -
Sllilll ISSUlll1Ce Coot Plil - -
!».1dend Plil -
IJ.idend Mbl11oo Tax Paid - (61,380,000)
Ottm tin be
TClll call FIDw Fi1m RIWICIM.ktM!lel m
Nlltl~ In Cdl&Clsll ~[1+2+3]
-
(63,647,1169)
1111,380,mta
(4S.914,G42)
Cla1l & Cast1 f<llMIOO!s H. llmllrftl or Thi) 'ltlerlRl!kxl 217,878,306 261,792.348
BiKid" RaiB 0..U.. III Cal!i181ld GiWl ~ -
Cml! & Clllll ~nulnJl!nlaltfnl ofllle Ylliill'lnbl 154 m 21787A306
of Cllll & CMh lirlUfVlllBn11
Call'l l'I Hilld 412.952 214,246
'"'"""'In Hand - -
Tenn DA<lll!ll lltil ~ r..1t11 ~l'M 1111\irlt.I um. 3 rm1tm1
El*al Wilh Bala; 154,230,337 217,664,002
-Oii-
-
- --
_Rll,..1 ~
"7'1'~~~~flt 23
~I ~--...&.1........a;ttMWrrLTD. - - - - - - - - - - - - - - - - - - - -
1 II
1
i 11
1
I& !1
li!i J
I i~
11lt 1J
~
24
-
·~1~ 11jl
!1I I11
25
,.
......,__. .,_......_
~......... '°_
Notes to the Flnanc:lal Statemente for the year endId A8hed 32, 2079 (1 eth July, 2022}
1 GeMnl lnfonMlllon
1..1.rnblnl General Insurance Company Lrmlted (herein after referred 1D as the 'Company') was rncoiporated
on 20611616 and operalBd ae general ineurence company after obtaining license on 908/061162 under
lhe Insurance Act 2049. The registered office of 11'19 Company Is located at Gyanashwor, Kalhmandu,
Nepal. The Company's ~ares are listed on 2063/01/27.
The financial statements are apprOll&d for Issue by lhe Company's Board of Directors on 2078/10/21l.
2 Bula of Preparation
(a) Stllbtmlnt or eo11111411.-
The Ananclal Statements have been prepered In accordance With the Nepal Flnenclal Reporting
Standards {NFRS) iBBued by 1he Nepal Accounting Standards Board {ASB). as per 11'19 provisions
of The Nepal Chartered Accountanttl Act. 1997. The&e confirm, in material respect, to NFF!S ae
Issued by the Nepal Accounting Standards Board. The Ananclal Statements have been prepared
on a going ooocem basis. 1h& term NFRS. include& all 1he standards and the related interprecations
\Wilch are consrstenuy used
.(b) BalleofMaeuNIM!lt
The Financial Statements have been prepared on lhe historical cost basis except for following
Allsets & Liabilities \Wlich have been measured at Fair Value amount:
I. Certain Ananclal Assets & Llabllnles which are required tD b& measured at fair value
ii. Defined Employee Benefits
Ill. lnwrance C-Ontrect Llablllues \Wiich are required to be determined using actuarfal valuation for
Uablllty Adequacy Test (LAl).
Historical ooot is generally Fair Value of the oonsideration given in exchange for good$ & eeMces.
Fair value 18 lhe price !hat would be received to sell an asset or paid to transfer a llablllty In an
orderly transootioo between maiket participems at 1he measurement date, reoardletl& of whether
that price Is directly observable or estimated using another valuation technique.
In addhion, for Financial Reporting purpoaes, Fair Value rneauuremenl8 are categorized into
uwal 1, or 2, or 3 based on 1he degree to Which 1he Inputs to the Fair Value measurements are
observable & !he significanoe of the inputs tD 1he Fair Value measurement in its entirety, which
are descr1bed as follows:
• Level 1 - Inputs are qooted price$ (unadjusted) In actllle markets for Identice! Assets or Llebllltles
that !he entity can acoesa at 1he measurement date;
• Lave! 2 - Inputs are inputs, olhe< than quoted prioos included within Ulvel 1, that are obaelvable
for !he Asset or Uablllty, erlher direedy or lndfrectl)I: and
• LEJYSl 3 - Inputs are unobaervable inpute for the Asset or Liability.
(e) u. or Eatlrn.l!M
The preparalion of these financial Statements in conformity with NFRS requires management to
make esllmates, ~dgemems and assurrf:lUons. These eattma!es, judgments and aswmpuons affect
1he reported balances of Assets & Lillbilhies, disclosures relating tD Contingent Liabilities as at the
date of the Ananolal Statements end the reported amounts of Income & Expenses for the years
presented. Actual results may differ from these estimates. Estimates and underl)ling assumptions
are r$1/iewed on an ongoing baSia. Changes in estimatoo are reflected in the financial Statemelll$
26
~·liMllS-IOM
in the period in whioh changes are made and, if material, their effects are disclosed in the Notes
to the tlnanclal a!Blements.
(d) Funatlonlll and "-ntllllon C:Unmoy
These Financial Statements are presented in Nepalese Rupees (NPR) which is the C<lmpa.ny'e
functronal culT'ency. All flnanclal Information presemed In NPA has been rounded to the nearest
rupee except where indicated otherwise.
(e) Going Co.-n
The financial statements are prepared on a going C<lnoem basis. The Board of Directors have
considered a Wide range of Information rela!lng to present and future conditions, Including future
proj&ctions of profitability, cash flows and capital resources while assessing the going concern
ba&ls. Furthermore. Boerd Is not eware of eir/ matel18I un~nUes 1tlElt may cest slgnttrcant doubt
upon Company's ab!Uty to continue as a going coneem and they do not Intend either ID llquldate
or to cease operatiOne of it
(f} CNn,gee lnAccoumln9 Poller..
Ac<::ounting policies are the specific principles, ba9ee, corwen1ioos, rulee wid practices applied by
1h& Company In preparing and presenttng fnanclal atatsmenm. The Company la permitted to change
an accounting policy only if the change is required by a standard or intel'pretalion; or results in the
financial SIB!ements prollk:tng rellable and more rel!lvant Information aboutttle effect& of transactions,
other events or conditions on the emify's financial position, financial perfoimance, or cash flows.
(9) Recent Accoun11ng Pronouncementt: NA
(h) caMHl'lltll: NA
3 Sf,gntnoantAoMunttngPollafee
Thls note prcMcles a llst of the slgnHlcant pollclas aclop(ed n ttle preparetlon of these Rnenc1e1 &atemams.
(a) Pn1poMty, Pl.,t and Equlpmant (PPE)

l}lblc~
Freehold land is carried at historical coat and alher ~ems of propeftY, plant and equipment are
stated at coat of acqulsltton or construction less accumulated depracla!lon when, It ls probable 11\at
fu1ure economic benefi1s associated wi1h the item will flow ID the Company and ~can be used for
more than one year and the oost can be measured rallably.
Subsequent costs are included in ttle asset's canying amount or recognized as a separam asset,
a& appropriate, only when~ meecs the recognition critlll'ia a& mentioned above. The carrying MlOUnt
of any ~9n1 acoountad for 88 a separme assec. ls deracognlzad when replaced. All other repal111
and mainttl08nee are chQIIled to profrt or lose during th& reporting period in which they are illCl.lrred.
II) Alllvllllllllon
After recogn~ion as wi asset. lands and buildings whose fair value can be meesured reliably, have
tl&an canled at 1""31ued amtlU1t al 1he date of rBllllla!lon less sny sut>saquen1aca.rrUa!ed dep'aclatton
and subsequent accumula!&d i!T¥)1liiment losses. Valuations are being parfonned to ensi.re ttlat ttle
fair value of e raveluad asset dOllS not me.1811allv differ from II& cenylng amount as et the rapcitfng date.
Valuation of the land and buildings are undertaken by professionally qualified vaulters.
A.n increaee in the (:6tl'ying e.mount a& a reeult of revaluation, ie recognized in other comprehensive
Income and accumula!ed In equity under the heading of A1WkJaUon reserve. However, the Increase
is recognised in profit or loee ID th& ext9nt that~ reveree& a revaluation decrea&a of the same aeset
prBll!oustv rec:ognlB&d In profit and loss. A daallBSe In ttle carryilg amoum 88 a msiJt of revalualfon,
is recognised in profit or 1088. Howewr, the decrease is recognised in other COfT'4)reheneive income
to the extant of anv credft balance &)(lallng In the r&Yaluatton surplus In respect of that asset.
Add~iOnally, accumulated depreciation as at the revaluation date is eliminated against the gross
27
G•..-.'°-
carrying amount of the asset and the net amount is restated to the revalued amount of the BSl!el
Upon disposal, any revalua!lon reserve relating to lhe parttcular asset being sold Is transferred
directly to AICained earnings. Al18ma1ively, acx:u'T1ula18d deprecia!ion can be in<nased prcp:>rti>natlily
as allcmed by NAS 16
Difference between deprec:la.!lon on the revalued canylng amount of the asset and depreclaUon
based on th& esset'e original cost ie transferred to retained eeminge.
Ill) Dapra clldfon
Depre<:iation on Property, Plant and Equipment other than Freehold Land i.e. the C<ll'npany's
Freehold Bulldlf'(I, Plant & IVlachlneiy, Vehicles & 01l1er Assets Is prO'lklec:t on 'Straight Une M9111od
(SLM)/ Diminishing Balance Method {DBM)' based on Useful Life estimated by technical expert
of Iha management.
The Assets Useful Lile/ Rate of Depreciation and Residual Values are reviewed at the Reporting
date and the effect of any changes In estimate$ are eccountbd for on a prospectlll& basis. Useful
Life of Property, Plant and Equipment based on DBM Is categorised as stated below:
Li8t of Aseet categoriee Rate of ~ation Qn %) for DBM

Land Not Applicable
Buildinge 5%
Leasehold Improvement Lease Period
Furniture & Fixturee 25%
Computers and rr Equipments 25%
Office Equipment 25%
Vehlcles 20%
O!herAssats 25%
Ill) o.-enMon
An item of Property, Plant and Equipment is derecognized upon disposal or when no Future
Economic Benefhs are expected to arise from the comlnued use of the Asset. Any Gain or Loss
arising on the disposal or retirement of an item of Property, Plant and Equipment is deteimine<j as
1119 difference between the sales proceeds and 1l1e canylng amoum of the Asset and Is reoognlzad
in the Stlltement of Profit or Loss.
v) lm.,.lrment
Assets are tested for impairment whenever even1ll or changes in circumstances indica!e that the
carry;~ amount may not be re<X:Nerable. An impairment loee ie rec:ognizad for the arnoum by wtlieh
the Asset's canylng amoum exceeds Its recoverable amount. The recoverable arnoum Is higher
of an e.eset's fair value less cost of dispooal and value in use. Vakle in use ie bae&d on th& &etinated
future cash flows, dlscoun1ed to 1helr present value using pre-tax discount rate that reftects cument
market assessments of the time value of money and risk $pecific to the ruisets. Assets that suffer
an Impairment are revl9W8d for possltlle revar&al of the lmpalrmen1 al the end of each reporting
period. In case of such reversal, the carrying amount of the asset is increased so as not to exceed
the carrying emount that would have been determined had there been no Impairment loss.
'llt} c.ptal Wortt.f n-Prot-
Theee are expenaee of capital nature direclfy incurred in the conwuction of buildinge, major plant
and me.chlnery and system development which are to be capitalized. Cephal Work In Progress
would be transferred to the relevant asset when it is available for uee. capital Work in Progreee ie
stated at cost less any accumulated Impairment losses.
(b) lntl.ngllll• "-111
I) Aecogultlon
Intangible assets acquired separately are measured on initial recognition at OOBt. Following initial
28
~·liMllS-IOM
recognition, intangible assets are camed at cost less any accumulated amortization and any
aoourrulated mpa1rment lo&se&. Internally generated Intangibles, exclUdlng capllallmd development
costs, are not capitalized and the related expenditure is reflected in statement of profrt or loss in
tha year In which tha expenditure is 1nowred. SUbsequant expendlt1Jre on lntanglble assets Is
capitalized only when It Increases the future economic beneflts embodied In 1he specHlc ass91 to
which it relatea. All other expenditure ie &llP60e&d u i~rred.
II) Amat lltmllon
The useli.il lives of intangible aeeem are asaesaed to be eilhef finite or indefinite. Aro intangible asset
8hall be regarclad as having an lndefrnne useful life when, based on an anaJyslll of all of the rele\lant
factor11, there is no foreseeable limit to !he period CNer' which the asset is expec!ed genera!e net
cash Inflow for the enttly.
Amortisation is recognised in income statement on straight line method over the estimated useful
Illa of the Intangible a$$91S or diminishing balance method from ttl& dat91tle.t It Is ave.Hable tor use
since this most closely reflects the expected pattern of calsumptlon of Iha tub.re economic benefltll
embodied in the aeset. The amorti$8li00 period and th& emonieation method for an intangible aeset
with a flntte useful life are reviewed at least at each flnanclal year end. Changes In the axpected
userul life or the expected pattern of coneumption of Mure economic beoefits embodied in the
asset are considered to modify the amortisation pertod or methOd, as approprta!e, and are treated
as changes in acoounting estimales. The amortisation expense al intangible assets with finite lives
Is recognised rn the statement of protn or loss.
Useful Life of lntangibl& Assets based al SLMJ DBM is categorised as staled below:
List of Aaset Ca1egorfas 'Useful Ltte (In Years) for SLM'
Softwares 5
Uoanolil$ uoence Period
Others {to be specified)
II) Den cognlllan
An Intangible Asset ie ~ogni&ed v.tien no Future Eoonomie Benefim are expected to arise from
the con1lnued use of the Asset Any Gain or lo88 arising on the derecognl11on Is dete1mlned as the
difference between the ealeo proceeds and the carrying amount of the As6et and is reoognized
In the Statement of Proftt or LOBS.
IY) lmpmnnent of~
The Company a&&aSses at Elr!ll)h reporting date as to v.tielher there ls any lnd1cauon that lntanglble
Assets may be impaired. If any such indication exists, the recoverable amount of an ass91 is
estimated to determine tha extent of Impairment, If any. An rmpa1rment loss is rEl()ognlsed In tha
Statement of Profit or Loss to the extent, asset's canylng amol.llt exceeds Its recoverable amount.
Tue recoverable amount ie higher of an ueet'e fair value 1- coot of diepoeal and value in use.
Value In use Is based on the esUmated future cash flows, discounted to their present value using
pre-tax dieeo1mt rate thBl reflects current market aese68ments of the time value of money and riek
speclflc to the assets.
(C) lwtnwnt Proper!IN
COetModll:
Investment properties are derecognised either when they have been disposed of, or when Iha
inveatment propel'ty is permanently withdrawn from use and no futl.1'9 economie benefit ie expecl&d
from tts disposal. Any gains or losses on the retirement or disposal of an Investment property are
recognised in the statement of profit or loss in the year of retirement or dispoeal.
Transfers are made to {or from) ln\/98tment property only vmen there Is a change In use. For a
transfer from investment property to PPE, the deemed cost for subsequent accounting is the fair
value at the date of changt:1 In use. If Pf'E beoomes an Investment property, the Company acoounts
~ SW...--...&.1........a;ttMWrrLlD. - - - - - - - - - - - - - - - - - - - - - 29
~......... '°_
for such property in accordance with the policy stated under PPE up to the date of change in use.
OR
Fair Vllue lllodel:
investment propertie& are derecogni&OO either when they have been diepoeed of, or when the
Investment property Is peimanen11y IM!hdrawn from use and no future economic beneflt Is expected
from ~s disposal. Airy gains or lossee on the retirement or disposal of an investment property are
recognised In the statement of profit or loss In the year of retirement or disposal.
Transfers are made to {or from) investment property only when there is a change in use. For a
transfer from Investment property to PPE, the deemed cost for subsequent accounting Is the fair
value at the date of change in use. If PPE becomes an invastment property, the~ acoounts
for such property In accordance >Mth the policy steted under PPE up to the dale of chenge In use.
(d) Clleh 6 CUh Ecpvalmit
Cesh & cash Equivalents include& Cash In Hand, Bank Bal80C$8 and short term depos~s with a
maturity of three months or less.
(•) Ftrmndal Meetll
I) Initial Rec:otnlllon & llaMurement
Financial Assets are recognized when, and only when, the Company becomes a party to the
contractual provisions of the Ananclal Instrument. The Company determine& the cla&&lftcatlon of
its Financial Assets at in~ial recogn~ion.
When Financial As$$t$ are recognized initially, they are measured at Fair Value, plus, in the ca&&
of Financial Assets not al fair value through proftt or 1088, transacdon costs 1hat ara attributable ID
the a<Xjuisition of the Financial Asset. Transaction costs of Financial Asset& carried at Fair Value
through Proflt or Loss are eicpensed In the Statement of Proflt or Loss.
II) SubMquent M-uNIMllt
•)Financial MMta CM111d Ill Amortlllld Coet (AC)
A financial Asset is measured at amortized cost if it is helcl within a business model whose objective
ls to hold the asset In order to collect oontrectua1 C8.6h flows and the contractual terms of the
Financial Asset give rise on specified dales to cash flows that are solely payments of principal and
interest on the principal amount ou!Standing. Interest inoome in theee financial assets ie meaaured
using effacllve Interest rate method.
b) Ftnlndll AM81IJ at F«lr Vllue through Ottler Comprell-lve Income (FVTOCO
A Financial Asset Is measured at FVTOCI If It Is held within a business model wtl08& ob}ecttve Is
achieved by both collecting contractual cash flows and selling Financial Assets and the contractual
terms of the Financial Asset glll& rise on speclfted dales to cash flows that are sol!lly payments of
principal and interest on the principal amount outstanding. Thesa financial assets are measured
at fair value and changes ere taken to statement of other comprehensive Income.
e) Ftnandal Aaeta et Fllr VIM thral.lgh Profit or i . - (FVIJIL:)
A Financial Aeset v.tlich is not claseified il any of tile above categories are measured at FVl1"L These
flnanclal assets are measured at fair value and changes ara taken ID statement of profit or loss.
Ill) De-Recognition
A Ananclal Asset Is deracognlzed only when the Company has transfe1T'9d the rights to recetve
cash ftDWll from the Financial Asset. Where the Company has transfooed an Asset, the Company
evaluates whether It has transfa1Ted substan11ally all risk& and rewards at ownership of th& Ananclal
Asset. In such cases, tile Financial Asset is derecognized. Where the Ccrnpany has not transfelTild
wbstantlalty all risks end rewards of ownership of the Flnanchtl Asset, the Ananclal As$$t Is not
derecognlzed. Where the Company retains control of the Ananclal Asset. the Asset Is condnued
to be recognized to the eJCtent of continuing irlllOlllement in the Financial A&set.
30
~·liMllS-IOM
Iv) lmpmnnent of Rnllndll A..-
The Company assesses at each reporting date whelhef lhefe is objective evidence that e. financial
a&Set or group of financial assets ls Impaired. A financial asset or a grtq> dflnanclal asset& 18 d9emecl
to be impaired if, there is objective 8\lidence d i~11T19111 as a A1Slit of one or more events 1ha1 has
oooorred since the tnrtlal recogn1uon of the asset (en Incurred 'loss event') end that loss event has
an Impact on !he estlma!ed future cash flows of !he financial asset Of' the group of flnanclal asselll
that can be reliably eetimatad. Evidence of impairment may include indications mat a financial aseet
or a group of financial assets Is experiencing slgnHlcant flnanclal dlffk:ulty, default or delinquency In
interest or principal payments, the probability !hat they will enter bankruptcy or other financial
reorganlZallon and obSll!Vabla data lndk:aUng !hat 1tlem Is a measurable clacreasa In lhe estmatad
future cash flows, S\Jch as changes in arrears or ooonomic conditions that correle.te wilh defaults..
F ; I ;lied Cftldlt l.oM tor •1. . .1111enl ol n•llClllAMetla .. tppllcQletbr •1iplel1•11don of NFR8 9
n aooordancewilh NFRS 9 iinancial lnslnmert", the ColTplnfuses 'Expeclad ~ LDss' (ECL} Modal,
for eveluatl~ lflll61rment of Flnanclal ~ ottler than thOOe mee.sured at Alt Value through Pro1tt or
Loss (FVTPL).
F11peetect Credit L o - v. meMUrect tllrougll • loe• allOW11nce at an «mount equal to:
The 12-months Expected Credit Losses (Expected Credit Losses tnat result from those default
events on !he linancial lnsrrument that are possible within 12 months after !he rePQrting date); Of'
Full Ufatlme Expectea Credit Losses (Expected Credit Losses that result from all possible default
events over !he life of the Financial Instrument)
For other a$$6ts, the Company uses 12 month& Elcpected Credit Losses to prO\/lde for lmpelrment
loss llotlere !here is no significant inCl"88Se in cradit risk. If !here is significant increase in credit risk
Full Lifetime ECL is used.
(f} Flna.ndal LlalllllllM
I} lnltllll Racotnltlon a .._urement
Ananclal Uat>llnlas are recognized when, and only when, ttle Company becomes a party to the
contractual provisions of the Financial Instrument. The Company deteimines !he classificalion of
Its Financial Uabllnles at 1nnra1 recognnlon.
All Financial Liabilities are 1'9C()Qnized initially at Fe.ir Value, plus, in !he case of financial Liabilities
not at fair velu& through proftt or loss, trensactfon oosts that are attr1butable to the rssu& of the
Flnancle.1 Uablllty.
II) Sub41equw M-""1181'1t
After Initial recognition, Ananclal Uabllltlas are subsequently m&aSUred et amortized cost using
!he Effective lntereet Method.
For ttada and other payables maturing vilthln one year from Iha date of Statement of Financial
Pooition, the carrying amounts e.pproximate Fair value due to shOf't mab.lrity of these insrruments.
II) Dill Al11co9nltlon
A Financial Liability is de-recognized when the obligation under the liability is discharged or
cancelled or expires. When en existing Financial Llablllty Is repleoecl by enother from th& same
lendar on substantfally dllferent telTTlS, or !he terms of an exls11F'(l llablllty are substantially modified,
such an exchange or modification is treated es a de-recognition of !he Original liability end the
recognition of a new llablllty, and Iha difference In Iha respac11ve carrying amounts Is recognized
in the Statement of Profit or Loes.
(8) Offletll"'I flnllndll ln11111mema
Fnancial e.ssets and liabilities are offset. and !he net S1munt is reported in !he Statement of Financial
Position w!lere !her& Is legally enforoeallle right to offset the recog'i&ed aJT10ll1t& and there rs an ~on
to llEl1!1e on a net basis or realise !he assat and set1la 1he liability si1nJltaneouely. The legally enfo!ceable
rl!l1t must not b& oont!~nt on futLre ~t& and must be enfofoeeble In th& noimel OOU'se of business
and In !he tMH1t of default, hlcivencyor bankruptcy of 1h& Catipa "I or 1ha ~·
~ ~...W.1-....::li~ ...... - - - - - - - - - - - - - - - - - - - - -
31
(h) RelnMn.-A&&ats
Reinsurance assets are the assets which are created against insurance contract liabilities of the
amount \Wiich are recoverable from lhe relnsurer. These assets are crea18d for the reslnsurer's
share of ir.surance contract liabilities.
A relnwrance asset Is rmpeJred It there Is ob}Eletlll& 9\lldence, as a result of en event tllet ~rred
after !he lnhlal reoognldon of the relr.surance asset, that !he Company may not receive all amounts
due to it under the terms of Iha contract. and Iha event has a reliably measurable impact on Iha
amount that Iha company w111 receive from the re-Insurer. If a reinsurance asset Is Impaired, Iha
compeny reduces th& canying arnount ecoordingly and is recognized in sllltement of profit or lose.
(I) Equity
Financial Instruments issued by the Company are classttied as Equity only to the extent thal they
do not meet lhe deftnltlon of a Rnanclal Uablllty or Frnanclal ~
(I) R111M1aandfunda
II.._ Pnriumie If 1he C<lmpany l$$U$$ share cepltal et premium It receives eictra emoll1t other than
share capital such amount ls 11'an9ferred to share pnimlum. The amount In shale premium Is allowed
for distribution subject to provisions of company act & regulatOfY requirement.
I) 11•-Flllll: The Ccmpany has allocated Insurance fund for the amount which rs 50% of the net
profit every year ae per Regulator's Directive.
II~' · · s' n ,.. Th& Coo'flMIY has allocated catastrophe reserve for the amouit which Is 10%
of the net profit for the year as per Regulator's Directive.
h) Fair Vali.. n wa: The Company has policy of Cl'eattng fair value reserve equal to 1l1e amount of
Fair Value Gain recognized in statement d other comprehensive income as per regulatcr's directive.
•> Ratll1-J R111 - Reserve creEtted out of net profit In fine with different circulars Issued by
regulatory au1hority.
10 ActNr!JJ ~ Reeeaerve against actuarial gain or lose on present value of defined benefit
obllgadon resutlng from, expertenc:e adjustments (the effects of differences between the previous
actuarial aeeumptione and what has actually occurred); Md the effects of cl'langee in actuarial
assumpttons.
"~ Cllhl!Dwllldgll n1 - rs the exposure to variability in cash flows that is attributable to a particylar
risk as&Ocla!ed IMttl all or a component of a recogilzed asset or Uablllty or a hlght)t probable forecast
transaction, and could affect profit or loss. Reserve represent affective portion of the gain or loss
on the hedging Instrument recognized In other oomprehenslve Income.
111) RI dultlonR1 llrMC Reserve created against revaluation gain on property, plant & equipmen1ll
& intangible aaeet&. other than the reversal of eMier revalaution loeee& charged to profit or foes.
Ir) Oiiier h, - Reserve other than above reserves, for e.g. deferred tax reserve, others (to be
specified)
(II) IMUntnce Contnl.ct UeblllllM
I) Prfif alon for UMamed p""'11u11111
Unearned premiums reserve represents th& portion of the premium written In the year but rela!lng
to Iha unexpired tel1Tl of coverage.
Change rn reGerve tor unearned Insurance premium repre$$nts the net PQl11on of the gross Wl1tten
premium transferred to 1he unearned premkJm reserve during the year to cover ttie unexpired period
of the polieee.
II) OUlftlndng elatma provtllona
Outstanding claims provisions are besed on the estimated uhimale cost of all claime incurred but
not settled at 111& sta1Bment of ftnanclal posltton date, vmelher reported or net. together w1111 relat8d
claims handling costs.
Ill) Provlalon for dllm Incurred but not repoltad (IBNR)
Significant dela)'S are experienced in !he notification and settlement of certain types of claims, the
32
G*--'o..ultimate cost of which cannot be known with certainty at the statement of finanoiel posrtion date.
The llablllly I& calcula!ed at the reportlr(I date using a range of standard actuarial clalm pro}ac11on
tecmiques, based on empirical data and current assurr¢ons ttiat me.y incluc:I& a margin for a..:i-se
devlatlon.
Iv) IJablllty adlqlll!CY
At each reporting da.19, the Company review& it& unexpired risk and a liability adequacy test ie
performed to determine whether there Is any overall excess of expected claims and deferred
acquisition costs over unearned premiums. The calculation uees current estimat~ of future
contractual cash flows after taking account of the Investment return expected to arise on assets
relating to the relevant non-life insurance technicel provisions. If these estimates show that the
carrying amount of the unearned premiums Is Inadequate, the deficiency Is recognized In the
sta!ement of profit or 1088 by setting up a provision for liability.
(I) I!lllflklY9e Bet llftlfj

I} Short T9ml Oblllllon•
Uabllltles for wages and salaries, Including non-monelaly benefits that are expect8d to be settled
wholly within 12 months after the end of the period in which the employees render the related
aefllloe are recognized In respect of employee&' services up to the end of the reporting period and
are meBSUred at the amounts expected to be paid when the liabilitiBB are seuled. The liabilities are
presented as current employee benefit obligations In the Statement of Financial Position.
II) Poet· Empoymsnt Bwtlta
• Defined Con1rtbu11on Pl1r1
The Company pays Provident Fund contrlbU!lons to publicly actnlnlstered Provident Funds as per
local regulations. The Company has no further payment obligations once the contributions have
been paid. The con1rlbU!lons are accounted for a& deftned contr1bUtlon plans and the contrlbU!lon
are recognized as Employee Benefit Expense when they are due.
•Defined Benefit Plln
For Defined Benefrt Plan , the cost of providing benefits is determined using the Projected Unit
Credrt Method, with Actuarial ValuatiOne being carried out at eecti Statement of Financial Poeition.
Actllalfal Gains & Losses are recognized In the Other ~rehenslve Income In the period In which
they occur. Paet service coet is recognized immediately to the extent that the benefits are already
vested and othelwlse ls amortized on a S1ralght Une Basis over !he average period 1.11111 the benefits
become vested. The retirement benefit obligation recognized in the Statement of Financial PoertiOn
represents the present value of the defined beneftt obllgatlon a& adjusted tor unrecognized past
sel'Vice cost, as reduced by the Fair Value of plan Assets {II Any). Any Asset resulting from this
ca1cu1e11on ls llmlt&d to past 6e1Vlce 006!, plus the pres em value of available refunds and reducttons
in future contributions to the plan.
II) Long T•m Employw a.. ..ttt.
The liabllldes for un-avalled earned leaVBB are not expected to be settled wholly within 12 months
after the end of the period in which the employees render th& relat9d service. Leave Encashment
has been computed using Acl1.laJ'lal ~mptlons and these are measured at lhe present value of
expected Mure payments to be made in respect of seNices provided by employees up to the end
of the year ualng the Projected Unit Credit Metnoe1. Th& beneflts are dl8Count9d using the maJ!<et
yields at the end of the year that have terms approximating to the terms of assumptions.
Iv) 'nlnnlnltlon
Termlna!lon benefits are payable when employment Is terminated by the Company before the
normal retirement date, or when an employee accept& voluntary retirement in exchange of tl'8&e
benefits. The Company recognises termination benefits at the earlier of the followlng dates:
33
a) when the Company can no longer withdraw the offer of those benefits; and
e•--'°""-
b) when !he enttty recognises costs for a restructuring that Is Within the scope of NAS 37 and
involves the payment of termination benefits.
The termination benetlts are meeooreo based on the number of employees ll)(!)El<)teo to e.coopt the
ofter In case of volumary re!lrement scheme.
(m) Rewnu. RKoanltlon
I) Groaa Eemed Prmnl11ma
Gross Earned Premiums are arrived at after deducting unearned premium reserves from Direct
Premium and Premiums on Reinsurance Acoepted. Direct premiums compl'fse the !Dial premiums
receivable for the whole period of cover provided by contracts entered into during the reporting
period. They are recognised on the date on which the pollcy commence&.
Unearned premiums are those proportions of premiums written in a year that rela!e to periods of
risk after the teporting date. Unearned ptemiuma ate cal<:Ulated on a daily pro rata basie. The
proportion attributable to subsequent periods la deferred as a provision for unearned premiums.
II) Relne11- Pl'llllll11m
Direct Reinsurance premiums compl'fse the total premiums payable for the whole cover pro\llelacl
by <Xlntraots entered into the l)efiod and are recognized on the date on which the PQlicy incepts.
Premiums lnclud& any adjustments arising In the accounting period In r&Spect of reinsurance
contrae1s incepting in prior acc:ounting periods.
Unearned relnS\lrance premiums are those proportions of premiums written In a year that relate
to periods of risk after the reporting date. Unearned reinsurance premiums are deferred over the
term of 1he underlying direct ineurance policie& for riSk$- attaching contracts and over the term of
the reinsurance contract for lossas oc<:Urrfng contracts.
Reinsuranoe premiums and claims on th& face of th& statement of profit or looa have been presented
as negadve Items within premiums and net claims, respectlvely, because this Is consistent with
how the business is managed.
Ill) CommlMlon Income
Commission Income is recognised on acc:rual basis. If the income is for future periods, then they
ere deferred and recognised C111er those tutu re periods.
M lrwHlllMlllt · -
Interest inoome ie recognised in the etatement of pro!it or Jose ea it aC()ruee and iS celculated by
using the EIR method. Fees and commissions that are an Integral part of the effee11ve yfeld of the
financial asset are recognised as an adjustment to the EIR of th& instrument.
Investment Income also Includes dMdends when the right to receive payment Is established.
'V) Nit l'MllMd Gllhl met - -
Net realised gains and losses recorded In the statement of profit or loss Include gains and losses
on financial assets and properties. Gains and lo888S on the sale of investments are calculated as
the difference between nets.ales prooeeds and the onglnal or amoivsed cost end ere recorded
on oc<:Urrence of the sale transacdon.
(n) Prvduct CkMfflldcln
Insurance contractB are those contracts when the Company (the Insurer) has accepted significant
insuranoe risk from another party (the policyholdera) by agreeing to co1rf;>ern1ate the pclicyholders
lf a speclfted uncertain future event (the Insured event) adversely affects the pollcyhOlders. As a
general guideline, the Company detennines whether it has signtticant insurance risk by comparing
benefit& paid wtth benefits payable If the Insured event did not occur. lnstJrance contracts can also
transfer financial risk.
The Company has follo'ft1ng poi1follos under which It operates Its business:
I) Property Porltollo • Property Insurance business means the business of affecdng and canylng
34
G*--'o.. out ccntractll of insurance, otherwise than incidental to some other class of insurance business
against loss or damage ID property due to fire, exploslon, storm and otner occurrences customMly
included among 1he risks insured against in 1he fire insurance business.
II) llotor Porttollo • Motor Insurance business means the business of affecting and carrying out
con1racts of Insurance against loss of, or damage to, or arfslf'(I out of or In connecdon with the use
of, motor vehicles, inclusive of lhird party risks but exclusive of transit riake.
Ill) Marine PorUollo • Marine ln~irance business means 1he buslnBSJ; of affecilng and canylng
out contracts of insurance against loss of consignment of goods during transit.
Iv) Engineering Polltallo - Engineering Insurance b1.1Slness means Iha Insurance lhat provides
e<:cnomic $8feguard to lhe risks faced by !he ongoing oonstructioo project, installation project, and
machines and equipment In pro)ect operation.
II) lllcro Portfolio· Micro lnsurence protec1s against IOSB of or damage to crops or livestock. It
h8$ great po1enue1 to pl'Ollide value to low-Income farmers end their ()()ll'IYlUnlUes, both by protecung
farmers when shocks occur and by encouraging greater investment in crops.
vt) Avlldlon Porttollo -Aviation lneurance prOlliclee coverage for hull loseee a& well a& liability for
passenger Injuries, environmental and third-party damage caused by aircraft accidents.
'1111} c.1tll and crop Ponfollo- catde and Crop lneurance provides insurance aaainst looe of or
damage to Cattle and crops.
'11111) MllClll1.11eou. ~lo -All the insurance busineu which doesn't fall in above categorie&
fall under mlscellaneous Insurance business. Group Personal Accidents, Medical Insurances,
Professional indemnity insurance etc. fall under this category of business.
(O) Borrowing~
Borrowing costs direcdy attributable to the acquis~ion. construction or production of qualifying
aasete. which are ae&etll that n8C888QJ'ily take a subetantial period of time IX> get ready for their
Intended use or sale, are added to the cost of !hose assets, until such time as the assets are
sub&tantially ready for their intended use or sale.
Interest lnc:ane earned on the temponuy lnveslment of specific borrowings pending their expend~ure
on Qualifying assets is deducted from the borrowing costs eligible for capitalization. All other
bofra.o.1ng coal& ara recognized In sta!ament d profit or IO&S In the period In Which they are lncu1Ted.
(p) CUii R- S1ablm.,I
Ce.sh Flows ere reported using the direct method, Whereby ma/or cle.sses of ce&h receipts end
cash payments are disclosed as cash flows.
(q) L11111
fine.nee I $ , ' Ill
Leases in which lhe Company has &ubstantial portion of the risk& and rewards of ownership are
classttled as Finance Leases. Assets acquired under Finance l.Srases are capltallatld at the lower
of the Fair Value of the Leased Assets at the inception of the Lease Term & the Present Value of
MlnlmLrn Lease Payments. Lease Payment& are apportioned between the Finance Charge and the
reduction of the outsttlnding liability. The Finance Charge is allocat8d to periods durif'(I the Lease
Term at a constant periodic Rate of Interest on the remaining balance of the liability.
qi arallr19 i . -
1..eooes in v.tlich the CO!lll8llY doesn't have eubellllltial portion of the risk8 and rewards of ownership
are classlfled as Operating Leases. Payment made under Opera.Ung Leases are charged IX>
Statement of Profit & Loss on a SIJ'aight Line Basis,
(" •-Tam.
Income Tax Expense represents the sum of the tax currently payable & Deferred Tax.
I} Cu""'t 1U
Cu1Tent Tax Expenses are accounted In the same period to v.tllch the revenue and 8llpBn888 rela!e.
.... - - - - - - - - - - - - - - - - - - - - - 35
e•--'°""-
Provision for Current lnccme Tax is made for the Tax Liability payable on Taxable ll'lCQfTle after
considering tax allowances, deductions and exemption& detelTlllned In accardanC6 with the
applicabl& tax rates and the prevailing tax !awl!.
II)°"""''"" T.-:
Deferred Tax Is recognized on temporary differences between the calT)'lng amounts of Assets &
Liabilities in th& &atement of Financial Poeition and their Tax Batle. Dererred tax As&et& & Liabilities
are recognized for deductible and lalCable temporasy differences arising between the tax base of
Assets & Liabilities and their carrying WTiount in Finanoiel Statements, except wheo the Deferred
Income Tax arises from the rnnlal recognnlon of gooe!W111, an As.set or Uablllty In a transaction that
is not a business ccmbina!ion and arrec:ts neithef accounting nor taxable Proli1s or Loss at !he time
of the transaction.
Deferred Tax Assets are recognized to the extent that it is probable that taxable profit will be
available against wtlieh the deductible Tempotary differences and the carry forward of unused tax
credits and unused tax lossas can be uUllzad.
Deferred Tax Liabilitiee are generally recognized for all taxable Temporary differences.
The carl)'lng amount of DefelT'Bd Tax Assets Is reviewed at each reporting date and reduced to
the extent that it is no longer probable that eufficient taxable profits will be available to ellow all or
part of the OefelT'Bd Tax Asset to be utilized.
(•} Prowt.ior., COntln(tent Llablltlff & COntlngent MMtt

(I) PrcMllDrla
ProviSione are reoognizeo when the CQmpany has a preeent legal or conettuctive obligation a& a
result of past events, for which It Is probabl& that an outflow of resources embodying economic
beoeliUl will be required to eeme the obligation and a reliable estimate of the amount can be made.
Provisions are measured at the present value of management's best estimate of the expendhure
required to eettle the present obligation at the end of the reporting period. The discount rate to
dete1mlne the present value Is a Pre-Tax Rate that reftecta airrent maJ!<et assessments of th& time
w._.e of money and the risks specific to the liability. The increase in the provision due to the passage
of time Is recognized es Interest expense.
ProvisiOll8 for Conti~ent Liability are recognized in the books as a matter of abundant precaution
and conseMllive approach ba&Eld on managemen~s best estimate. HowEMlr, Management believe&
that chances of these matters going against the company are remote and there wlll not be any
probable ca.eh outflcm.
(II) Contlngant LllllbllldN
Contingent liabil~ies are recognized only when there is a possible obligation arising from past
events due to ooc:urrence or non-occurrence of one or more uncertain future events not wholly
within the control of the Company or where any present obligation cannot be measured in teims
of ful!Jr& outflow of resources or where e reliable estimate of the obllgetlon cannot be made.
Obligations are assessed on an ongoing basis and only those having a largely probable outflow
of reoour0$& are provided tor.
(Ill) Col\111"9 1tAueta
Contingent asselll where it ie probable that future eoonomic benetitll will flcm to the Company are
not recognized but disclosed In th& Financial Statements.
(I) FoNlgn Curnncy Tral'ltll.CllDl'I•
The Anancial $1ll.1aments of 1he Company are pre&ented In Nepalese Rupees, \IA'llch rs th& Company&
Functional C\.rrency. In prepari~ the Financial SU!!ements of 11ie Company, 1ransactions in currencies
other than the C-Ompanys F\Jnctfonel Currency I.e. Foreign Currencies are recognized et th& rates
of exchange prevalllng at the dales of the transactions.
36
G*--'o..
(u) &mll'fS Piii' Shani
Basic Earnings per share is calculated by dividing the profit attributable to ownel'S of the company
by ttie Weighted Average Number of equity shares outstanding during th& Financial Year.
For diluted eamings per share, the weighted average m.rnber of ordinasy shares in issue is adjustad
to a&&Ume conversion ot all dllutl\18 potentlal ordlrwy shares.
(v) ep.atlr19 91trnent
Operating segments are reported in 11 manner consistent with th& internal reporting provided to
th& chief operating decision maker (CODM) as defined by NFRS a, "Operating Segment".
Company'e Income & Expenses including interest are considered as part of un-ellocable Income
& Expanses wtllch ara not lelanttftabla to any busln98& segment. Company& Asset & Uabllltles are
considered as part of un-ellocable Assets & Liabilities which are not identifiable to any business.
"7'1'~~~~flt 37
~I ~--...&.1........a;ttMWrrLTD. - - - - - - - - - - - - - - - - - - - - -
,.
......,__. .,_......_
Lumbini General Insurance Company Ltd.
Natu to 1he Financial Statements
For The Year Ended Asha.ell End, 2079
~r The Year Ended July 16, 2022
4 Intangible A&sets
PwUIUll!s Stllbrlll u- octal {lo bt Specllllld) 1'11111
G~~lllllMrt
As at 6lnwan 1, 2078 3,125,000.00 . . S,125,000
h!tllb\s 154.CXXl 154.CXXl
~ - - - -
llll!ltllal DeoekitllMlt . - . .
Busilll?3S Coomlrdoo (ID be spedfJed) . - . .
llspooaB - - - -
. . .
.-
Revalla11oo
llllllnc81181Allllidh 32, 211711 3,279,000 . 3,279,000
Al:ctJITUa!ad amcrUza!lon and lmpUment

,. atS!nwan 1, 2.1178 982,600 982,600
Mtflbls 300,032 360,032
ll!posall . - . .
l~rme!t IOSllll6 - - -
l~ll!l!llt tll'MaJ - - - -
Balance ~atA!hadh 32, 2079 1,342,532 - . 1,342,532
Net~ /lJllJlllt
As atAllladh S1, 2078 2,142,500 . . 2,142,SllO
As at Allllld h32, 21179 1,936,4811 . . 1,936,4811
38
G*--'o ..
5 Property, Plant and Equlpmanta
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11,0.411
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h*/Qll!mtl . . . .
....-..nn un.•11. ~ 911.61$ ~UZI 1l'll7,s$3 1.3,8lil,Olll ~133 . 219,1118,171
. . .
AllllNDl!ill(llllllllll'Ci ~
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AlllSIRllll 1,!m . . . . . . . . .
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.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
J1111st11-.ma
Jlllll111Mr,lm
-.m,411
U!W.411
»,711,3111
17,7$U54
1111,157
al.tit
J,811,111
U/W
,....,.
•.1».11> 4J1n.m
Ul1.&ll
17,ll!,lill
11.4&W'
1~
1U1.ll!
ltdflllllt
•r.ntiJ~
A111l~lhmlal78
.ld:rw {7,7ffl/JJ2 41.11111112
~
~
~
~
~
111*1.........
111111111•Miil1111 llll 47,ia<m (l;JSMt.
lialrlDdill(llllllllll'Ci~
.
---
JllllSllml 1,llmS
~ 11.llll.254 11.ln\:!S4
k!!lil1lll iMlll
b*I........
.lilll.U.!m 11.ill.lll 11.lll!M
.111t1111mn . . . . . . .
Jll llSlllMl: llll9 . ~ . . . . . . ~
-~ 39
8 l""esbnent Prope11ies
PllUeulin Lind Bulking T&al
G'Cll c:atrying 8JIWl't
As a5trirl.an 1, 2078
h!illltn
~
T1111\!fa'1 ~imams
llllllll:e • at Allladb 32, 21179 - . .
Dlip1lcla1DI and l1l1181 nn ant
As;tS-1, 2076
~n
~
l~i!)SS811
l~rsw'S31
Tnwflll ~llltnents
Biallrlct eu1:AW11h 32, 2079 - . .
CliitaJ Wortt+Prognm
AUi S/lreweti 1, 207$
hlilllcm
~00
~
~pitmentlossea
~pitmmt llJlllMial
Balin:a. alAllllllll 32, 2lJ79

Net~Amount
Al atAllhaJlh end, 2J)79 - . .
/fl atAlllallh and, 2.0711 - . .
(i} Amounts recognised in profit or IOBB
l'llUeutn Qmnt 'l'8lr' Prll'llolSl'tlll'
Rmlmhxlnl9
Ch:t 1rDm ...-t.1 tll8I alllll!Dd llrtll Income
Clec:t 1rDm """"""tll8I alellt nmara111 nJUi lrx:ome
AUit from i1YB!lmfr1t irnpri!& btih"& de~
~~om k1vesliTBltDrO-
(II) Contractual obllga!lons: Refer note no. 54 for dlsc~re of conlrac:tual obllgaUons relaUng to Investment
properties.
(Ill) There are no restriction& on 1he reallsablllty of Investment properties or proceeds of dlspos;al I or mention
about restriction if any .
(Ill) Hl!r velue of Investment propertl&s:
40
Edrndon al/ Fllr VeM
..
.....__. ..,..,,.._
Th& Cc mp any oblalns Independent valuallons for ns Investment properties. The best evidence of fair value Is
current priCEle in an active market for similar properties. Where such information ie not Elllailable, tl'EI Company
ooneider information from a variety of sources including:
OCYrrent prices in an an active market for properties of different nature or receot prices of similar properties
in less active markets, adjusted to reflect 1hose differences
II) discounted cash flow projections based on reliable estimates of future cash flows
II) capitalised Income projections based upon a property's estlma!ad net maJl<et Income, and a capltalllla!lon
rate derlYed from an analysis of market evtdenoe
The lair valuee of inveetmant propa!'tiee have bean determined by .............. Th& main inputs used are the rental
growth rates, expected vacancy ratee. terminal yields and dieOO'.mt rates based on comparable traneactione
and industry data.
OR
1'111tuln laid ai- Talll
h'Mln•ll asattu--.
A111tS11111w1111, ZG78
/41ri1i!J1$
Net dwrlA!I nfair .We

/41jllSlmflllf T!Wfer
Id atAslllllh ""' 2079 - . .
Clllllll Wcrlt+-rwt
,,. at Slnwll! 1. 2078
ldlltbrl
~~
I IOO!es
I llMJ3ll
,,. atAlhaJ!h 32. 2079
Qmlnn flllrYWe
,,. at Sln:dl 1, 2078 - . .
,,. atAlhaJ!h 32. 2079 - . .
Eetlml11on of FU Vllue
The Company obtains Independent valuallons for Ila lnves1m8nt proparues. The best ellldanoe of fair value la current
prices in an active market for eimilar properties. Where euch information is not available, 1he C<lmpany coneider
lnfolmaUon from a llllllety of sources lncludl~:
Qcurrent prir;ee in an an actille market for pfl)flerties of differem nature or recent pricee of similar properties
In less acilll& mail<ets, ad~ to reflect 1h08e dlf!erenoes
iQ discounted cash flaw prqections based on reliable astimalas of fullJra cesh flaws
111) Cllllllallsed lncom& projections based upon a prop&rfy's esttmated net ml!ll<et lncom&. and a capllallss.1!on
rate derilled from en analysis of metket evic:lence
Thefalrvai.les of rnvestment properties have beul deloorined b>/ '""""""'The main '1iu1s used we !he renlal grow1h rates,
expectlld vacancy ratea, t111mlt'lal ~aids and dlscoont r.ll!ea based en comparalll& tranaacuona and Industry data.
(I) Amounts nicognlsed In p!O!lt er loaa
Pri:llln ~Yw Pl'erilDlle...
Rlmioome
cam trom •.......,tllat rell1al n:ocne
Cb;t frQm n....iv tllat dtki\ llAID1ll.e d hml&
Pm11tm~ . .
(II) Conractual oblgat/ons: Refer note no. 64 fer disclosure of cartrac111al d:>llgalklns Alla!fng to nvestment properliB8.
(iii) There are no reetrictiOna on the realisability of i"-tment propertiae or proceada of diepoeal I or mention
about restriction If arry .
11t~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~""=" -~~~~~~~~~~~~~~~~~~~~ 41
7 Deferred Tax Assets/ (Liabilities)
Particulars Current Year Previous Year
Intangible Assets - -
Property, Plant and Equipment (998,858) (1,742,771)

Financial Assets at FVTPL - 91 ,996
Financial Assets at FVTOCI (30,950,326) (6,366,322)
Provision for Leave Encashment 9,298,320 10,892,056
Defined Benefits Plan - Gratuity (6,345,528) (358,166)
Other
i. Agent Commssion Expense - Deferred (5,265,747) (4,436,857)
ii. RI commission Expense - Deferred (29,154) (31,747)
iii. RI Commission Income - Deferred 29,086,017 21,004,701
iv. Lease Liability (NFRS) 695,787 171,772
v. Unexpired Risk Reserve 499,572 4,551,605
vi. Provision for Outstanding Claims 12,969,738 15,494,541
vii. Acturial Gains - Gratuity 2,067,998 (4,021,375)
Total 11,027,818 35,249,433
Movements in deferred tax assets/ (liablities)
As at Shrawan 1, 2078 35,249,433 42,419,339
Charged/(Credited) to Profit or Loss (1,705,609) (445,073)
Charged/(Credited) to Other Comprehensive Income (22,516,006) (6,724,833)
As at Ashad 32, 2079 11,027,818 35,249,433
8 Investment in Subsidiaries
Investment in Quoted Susidiaries
Investment in Unquoted Susidiaries
Less: Impairment Losses
Total - -
Investment in Quoted Subsidiaries
Cost Fair Value Cost Fair Value
........... Shares of Rs each of ""Ltd .
........... Shares of Rs each of '"'Ltd.
Total - -
Investment in Unquoted Subsidiaries
Cost Fair Value Cost Fair Value
.. .. ....... Shares of Rs each of ""Ltd.
........... Shares of Rs each of ""Ltd.
Total - -
Information Relating to Subsidiaries
........... Shares of Rs each of ""Ltd.
.. ......... Shares of Rs each of '"'Ltd.
Total - -
9 Investment In Allsocfst..
..
.....__. ..,..,,.._
lld:IJln flmllt'1'11ar l'l'IMIMlll 'Mir

rnoannera In OlmlA!soclim
~In Urn•ollld Assoda!es
Lsss: rn,,,.,_ 1..a&ses
Toti . .
lnva 1lmenl In Quated JlaaoclallM
PlrtbJln o.rr.itlW Pr'Mu'1'11ar
Cmt 1111\IM Pl E'qAr Mel\XI Coot Fit\lale (ol) 91~ Metl>ld
...Shresol Rs eadld Ltd .
...;imvsof Rs eachof Ltd.
Md: !'1121!1 d Pmll or Lms b" l'la!kYall1!
hid: Swe of Pro!l or Lms tor Qm!t Year
lb1ll . . . . . -
lr111' 1tment In Unquoted A11ocl•I""
Pllttll1111'1 Clmnt""" Pnwm '1'lllr
Cast Pl fql/ Mslhcld
f81r\IU a:.t Ht~ (ol)l>l~M-
...........or.., "'"'''" Lm .
...51lares of Rs eadl d Ltd.
hid: Siare of Pmll or Loss b" Blller'feln
Md: 9lal8 of Protl or~ focnmi.t Year
TG1111 . . . . . -
Plrtt:uln CIJ nwrt '1'ilar PrMu 'fur Qmnt '1'lllr PrMu 'fur CIJ nwrt '1'ilar Pnlvba 'fur
Nilne
P'p o!Buslrais
Aanilti!(j Mell1od
'I. of OMmllp
Qmn!Assstll
Noo-0.mlrl /V:i4t,
Qrrenl l..lalftls
~l.Wlllles
lrrome
Net Prllllt or Loss
Oil'B Caninflll'll!l.e bml9
To1lil Com~ NJl1e
Ul1TJJlllJ'e 1111111' v'
Net frol!t a I.ms
Olf)6( Qrnlltf!SlllM tmne . .
"7'1'~~~~flt 43
~I ~--...&.1........a;ttMWrrLTD. - - - - - - - - - - - - - - - - - - - -
Plrtlculwl Qmolt 't'lr l'rNDUl't'lr
in'o!llllllllOlillt 1-..nd ld:Amortlled eo.t
DM1mert In Pruraence Shim! tlf Blrlk all! Rm:lal lllilNICJlS
I) mestnent In llfmUBs 20.495.000 20.495,000
l)~h Bood.! ~GovlrnmenVNIBI~~ Neid~ 6,500,000 6,500,000
I flllll IJepodt of •A• Gm! fNidj hlllllim 1,714,750,000 1,873,500,000
\ fllllj ''""""It ol lrll!ls!llldll9 l!arlcs Q 0
1 Rald 1- 1 n •a• <la.IS~ tlslllJllofB 224,700,000 139,500,000
.., Fial """"""' in •c• Oa.IS Fflatdill hilitutilr£ 53500nrn 51000000
\10 Ot11n (kl be SpdOOJ
Less: "1oemmt l..o83ee !243,ST.ll 1243,674)
Rnn:lll lllY8ltmsnt11 at M'OCI
0~In liJjty lldll1!l11118 D 0
I) ~nt In liJjty lrmirrem ~ 40,330,309 45,888,216
' II mmlmll1t h Eqlt'j lnslrurrlllls •
- ~11111&f'1111n(Da 51111l ldlld II,.,. rllt did bill """'d...., Rnm:lll 01. I.ti otfY 2076.79'
1 200,605,958 161.816,800
Mmestnent h wa R.n!s . .
~~ill DebeM!ll!S . .
~Otia"S
- ~ A'lSoclatlon-Promolllr's Sliare 2,0SD,439 2,060,439

lll!llrance lldlll& Nl>r»I Um1'lel 1.008.220 1.038,220
lll\lll!llllJIKE mlllVed ~ p.tfpl_ .
D~In'"'""" lldll111!111a .
ll mestment In '"'""" lnstl\lmrllls rr..•"" .
I) masomtt h t.lJ!llal Are . .
M00«s ~be ~so')
Tclal 2,3Zl,758,0S1 2,101,574,801
•l'lllll:Ulll
) Dealltof lml)*I r'lnllflt L
LO UH
Qml1t""" PnMoul 't'illr
meal!T11111U1 Prefarera Sl!in8 ol Brilard Rllll'IClal llll!Uons . .
~ill DellerM!& . .
~h BoOOa iNIEol Ga.mlrre!V NI&' QianrilB8d t.. Nor..! Gamnmertl .
Ital IJepoolt llllh 'A• CB fNidj hlllllim .
Fiiied ·-llllh ~ Blrlk .
Fllced •-wt11 ·s· Class ftlMclal hllltlillons 1?43,8741 1243,8741
Rl8d n.nr..J!ow!ll ·c· Oa.18 ~ ~ . .
()Im"" bes- . .
Tatal r>.n&'T.O
b) lnveetnlt!lllll luwlng cqi acllld rnatllrtlllle I - ttian 12 monthl:
l'ldculn Culllllt ll!lu' PnMlua ......
lll'ISISlmlJrt h '""'"" h!IJ\mtJlls • "O""" 300,936,2ti5 207,705,016
Investment h ..,.,.., hllnJnen1s 3.118,669 3,118,659
llMIStn'iEw1! In M~ fllllls . .
llM!Slmfllt il Pnmam Sll3ts& at Bark and FmliM ~ . .
llM!Slmfllt h llEiBl!ulll& . .
llM!Slmfllt h Balds"""""' G!MmnSll!/ NRl!i' ~ ,.., N-' Ga,iemm""" . .
FkeO lle..,,.\Mtl •A• C.Rlsnelel Rillllltl:i\s . .
Raj De-11!11 hflaltuc:Ve Bril . .
Fllild ae.-111111 'B' Class Rllll1Clal llll!Uons . .
FWd De-with 'C' Class Ff1lr1CiaJ ldulioos . .
°'1!rS /In be . .
TOlllll 304.0S4M4 ztOllZI B75
c) The CompMJ '--rilled '""•b•IC"1t9 amoun11n9 to NPA 1,S0,09,00,000 to hMunance Boerd.
~ N~~
11 Loans
..
.....__. ..,..,,.._
l'Wttllln QmntYlll' f'ral.10lll 'lllil'

Loan lOAsoodalee -
L.oanlO 10.613.918 13.781.340
L.oanlD Allenls . .
Ollllll1I Ito b& -
l.l!S$: .,,_ _ Lm;e& . .
Tolal 1Rll13.918 137111 utl
a) F•t«ted - ' I S*fod within 12 monthe:

l'Wttllln
l..Olln 1D A'lsoclats
Qmnt'talr f'ral.1DIJI *"
L.oantn -
l.OalllD""m
Ottm tin be
Tola! - -
12 RelnsuranceAsset8
l'llttllln Qmnt't'Blr l'nMDlll 'l'W
Rihuwmkise!s rn: - -
lhllamed l'nliTUl1s 5133B8Q48 :ni002938
Pillntim Dena...,., 13,090,1321 3,999,Wl
l!M aro IHR Clain"& - -
QJtslallil'la Oalma 615,917.797 706.134,964
t.boln for Mlelse DeWd!oo -
LE: bipaimelt La&ses - -
Tolal 1.171<718.613 1.018.7360
13 ln•urance Racelvablea
Pll!tlJln flmlllt'l'W l'llMIMllYw
fleceMlllla trom Rei1E1111111 125.994.408 157141.141
~e trom OOu lr11Ur.me 149,987,726 162.811,188
OMnnb& -
um: bi"'*"-L.osses . .
Tlllll 275,.982,1:IS 319,952,309
"7'1"~~~~flt 45
~I ~--...&.t~ttMWrfLTD. --------------------
14 Other Atleet•
-
Plstlculn Qmnt't\W Plwrdout•
f ""Ila AIMl1ces . .
393.663 1,132.398
QalmAdvll1ce5 89,399,28.5 72,172,6S3
Mflflc8s1) SJnnllfi . .
Std!~ 5,720,138 1,996,963
VAT PaieMEle 1,564,788 445,683
,_.,,..and S1a!Dl"" Sleek . .
SRnoSb:I< .
CEfBrad - . .
CEfBrad Ra·lllllJlllCI! ClmnliL!on 97180 105825
DeflmldkmlCIJTii!Dto!l 17,552.489 14,769.523
O!lmftnlle 23,952.968 2,531,147
Less: All011111C8 fer I km . .
fald 13U8Q,511 93,174.2DZ
Plll!culn QmntYllr PIMLB'IU'

""'l!aAcMriees .
~ 393.663 1,132,$98
llalmhMllal& 89.399.285 72.172.663
hMl1ces b SJnnller.I . .
Slaff AIMa!m! 5,720,138 1,006,003
VM RllalMmle 1.564.788 445.683
- ana S1a!Dl""' Stock . .
Slemp Std .
CEfBrad - . .
Deflmld Ra·lllllllllC& CmrnlSslon - 97,180 105,825
CEfBrad Miil! QJ1inis3oo ~ 17,552.489 14,789,523
O!lmtlnbe 23.952.968 2.531.147
Less: All011111C8 fa' I loss . .
llltll 1sa,680,S11 93,174,21)2
46
15 Other Financial Aueta
..
.....__. ..,..,,.._
l'lltblln Clmnt'l'W AIMDllll 'tWI'

""""""''"""""" . .
Allmled lllllest 4,123,281 1,652,552
Other ReaWali!& . .
other """"'"' 1,949,026 1,943,526
Slntv~ 110,473,484 136,556,926
Other 111AM<a in caiml llM!Slmfllt Tna l 54.826.721 43.210.553
L.ess: rn,..,,_ Losses 14,043,aoal 120,018.<.?Cl\
TCllll 1$7,323.514 18',345,02.9
l'll!Euln flmnt'tlllr l'llMDllll 'tWI'

SinJt!llri.rno:n. . .
Acoued lll\llef!t 4,123,281 1,652,552
Other ReaWali!& . .
otl1er ammn. 1,949,026 1,943,526
SlntvllelJm 110,473,484 136,556,926
otherMlie . .
L.e3s: rTI"'*1nmt L.osses 14,043,QQQI t20,01S.!i71ll
Toi.I 112,501,7GS 120,134,478
11 Cash and Caah Equlvalente

~ Prev!MYMt
Q,i"""'" "
C8sh., H:lld 412952 214.246
r''"""e ., Hil1d . .
Bank~
I. Blilll1ce\1!11 'A' ems Anaidm tislJlll!Jlans 128562~ 49.616.002
11. Bl*rioe 1111! •e• das5 Rllrlclal lllSIJIUiUons 21,890,596 165.~9.421
111. Belerlcs ..tti •c• c1aas Fhllclal ltWtkilfom 3,356,183 2,737,840
~ llmillrmert l..OilS8S . .
rmn.n. '11111 lrtlal _..., uato 3 llllJllhS . .
Ol1!1tstnbe
I.Am: llmillrmert l..OilS8S . .
1lllll 154Zl0.337 217.878.308
"7'1'~~~~flt 47
~I ~--...&.1........a;ttMWrrLTD. - - - - - - - - - - - - - - - - - - - -
17 (8) Share Capltal
Mculn QrrantYllr l'nlvbllV...
OJ11oav ShlJw
As at Bllrawan 1, 207& 1,1&a,a90,000 1141!IOOOOO
.e.Jilllcm diltig 1he ;a- . .
DBalus Slll9 bu , 13,894.550 57,000,000
i)Share m (.Ri{lltS!m m) .
"' ltt Allllllll end .21l79 1,a1z714,550 1,1118,llllO,OOO
Cowerllble Prft-
As al Sl1'awan 1, 2078
Shalllll-- l:Gl1 .
.
.
.
.e.!illlcris diltig 1l1e yeir . .
,,. e!Aelldl 32,2079 . .
mdee111 lllllil l'l1lfanl ra 6lllral (&lul1r Co mpon ant Orll'l . .
ftll il Sm\11111 1, 2078 .
Ad1flkns d1. . . , 1tll'""" . .
As at Allllllll 32 ,2079 . .
Tlllal 1,31Z784,6&0 1,198,890,000
0> Orclnuy Sham

PlrUculn o.mnt't'W Prevbll't'W
Allllcniad "'"'""': 3000000000 1 250000000
m,000,000 no. Olhov cf sl1al8s 0 fftr.100
IB:sial~:
13 127 645 no. cf iil1arell 0 Nls.100 1 312.784 550 1141 800000
Subilal>ea alll Pl*! UD ~:
13,127,645no.cfWtll'l@t&100 ptl'dl>nol 1,312,784,550 1,198,890,000
1l*I 1.312-784 550 11118 llllO 000
l'llUculn QrrantYllr Pl'M111"8'

~~:
""' Co!'Mlr111E PreilrerK:e Sl1.ll'e3 01 Fl.I'. each
.....11ooeem1tlb ~ Shu8il of R& eWi
ls:uldr..-:
..... Cooi!rtllil l'r!t!ralcs !JiaJm at Rs. m
.....I 11ldee11 rabla Fl efeo 111 ice 5hltss of Rs. m
Slmltled all! ~Un 11ar1to1:
•••.. Cooi!rtllil Pr!mrlca Sl1are3 of R.I. lllilCll
.....1111dee1111tie f'nlilje111:e stlales 01 flit. eam
Tlllal . .
48
(Ill) 8haftl Hllfdlr stl'llC:ture of Shani c.ptal
Nllrilercf~
..
.....__. ..,..,,.._
Pw1i:Uln
Perce lll9at
QmM'l'llar l'l'IMDlllYlll' CIJ rt9rt '1llar 1'11Mcu"8r
l'nlmats 111
GIMl!mmt of N!ml - - - 0
Neid IMitlfu's 2,363,012 2,158,002 18 18
Neid Olllll!l 4,332,189 3,956,337 33 33
Rl!Jimv - - -
~llnb& - - - -
Tclal W 6.611S,201 6,114,339 51 51
Otherit.. PlmnaDt
Gem F\JI* S,432,644 5,874,561 49 49
Qttm11t1be
T~ IH\ 6,432,644 5,874,561 49 49
Tclal~ 1S.127,S4& 11,W,900 100 100
NLINla' !'ISlll!ll Pln:l llllat

Plrltuln Qmntk l'nMlllll Ylllr CIJ rt9rt"8r PnMous 1'lar
um1i11 Bkls llillk ua. 1,179,429 1,123,266 9.M'lli 9.84'16
f.t. Minta' Das tliool 1,157,3114 1,121,137 9.65lli 9.ll2'16
427,561 429,783 3.57% 3.7&%
"" SW!kar C2't1*9
t.t. 43:>,065 421,389 3.63'lli 3.69'16
f.t. Oi1tlnati Bl'Bmi 373,651 365,38:'! 3.12lli 3.20lli
""Mn RaJ 5h1ls1ha
t.t. beta •
283,896
'Zl6,f!JIT
270,377
265,340
2.37%
2.32'll\
2.37%
2.32'16
M's. lbS"1 Rm 186,000 177,228 1.55lli 1.55lli
f.t. Prem BltiiW' Sl1lS1ha . 177.193 0.00% 1.55'11\
~ &llJ1ll Slrsllha 186,352 - 1.55\lii
Clllll3 Alllrol Co. 1.!11. 152,861 145,578 1.2fllli 1.27%
~·-...-~1
152.855 145,!i76 1.27% 1.27'11\
t.t. Ranlmll a,nni - 145,210 138,295 1.21 lli 1.21'16
f.t. Gopal Hamal 127,!Bl 127,695 1.00'X. 1.12%
f.t. BtllMO ... """nl 130,383 124.174 1.09% 1.09'16
Ku111111 Batt UII. 122,281! 116,465 1.02lli 1.02'11.
Sll11s8 an ll!I. 122,641 116,484 1.02\lii 1.02%
t.t. lllavadla4 iJ'!JllilQllllil 121.402 115,621 1.01'lli 1.01'16
17 {b) Share Application Money Pending Allotment
"7'1'~~~~flt 49
~I ~--...&.1........a;ttMWrrLTD. ~------------------
17 {c) Share Premium
1'111i:Uln QmntVlllr PnMDusl'lllr
~ltSIQllllll 1, 2078 - 38,515,285
ln0'8ilS8 41811> isru& of share& at pllriim - -
Decrea!e due to Issue !If booos sl!are3s - (38.515,285)
T~ am mon !If dlal9
Olhe!S tto be~
"'atA.'1111111 ~ - -
17 (d) Insurance Fund
l'lltll:tUrl CIJ nwrt '1'llar l'rlvbJI '1'111'
As at SI~ 1, 2078 728,548,580 647,667,090
Ml~ 64,915,390 80,881,400
Ullli2llll111S
flll ltAlhadh 32.2079 793,483,971 728.543.511(}
17 (e) Catastrophe Resel'Y8s

Plrtb.Un CIJ rrent '1'llar l'llMM'tll.-
Asa!!JllllWlill 1,2078 30,575,655 59,827,037
/GI~ 6,478,222 8,088,149
Ulll1231n ('37,339,532)
At. ltAah&Jlh 32,21)79 37,WPT S0.575,655
17 (f) Retained Earnings

1'111a:uln
As al Slr.lwan 1, 2078 ~-
127,735,810
l'llMIMll \'1111'
89,567,005
Net Prmlt or I.Dils 131.262.388 100.700.322
lt&ITllJ of OCI remmlsed dnniv kl lllllllned !llJllrm
~sntof~ l!8lefit !liln:nioos 52.537.347 15.691.278
Tmlllfe' ti reseries
a.iltj~ -
ll\Sllra!D F\l'd ffi4915~ IA0881 Q1l
QBlro""" Resell'llS IR,478,222! 29,251 .383
~ 11,4$1,007) (16,007,342'1
Fal'Yali.18 RsssM!s /1;11996.3531 ~011'>9Rl
~Reselves 6,893,325 (13.404,582)
RswllDlon Rea¥8&
Def1mld liDc Ressries 24,221,615 11,201,101
Com~lso!y flesell'I) FUld
Tll!llSfe" of llepndful on RIMU!li!Jl of l'l'E
Tl1/llfer oo il!po:laJ of R!MiJed ~ F'Rltand E4Jlll!lflll
TrallSfir on il!po:laJ of~ lllSll\Jmm1B Mil'a!!Jred at P/100
Tt'all!i3diln 00!1S oo i!rum& of sllil1! (7B2,S80) (776,600)
lsslm:e of B!nls Sllll1ls (113,894,550) (16.574.715)
lllidll'ld Pl*! (285,450) (51,652,857)
llMdilld lli!ibbJli!Jl Tax (5,709,000J (5,437,143)
Ollm [ tll be ~edj
a.~l'Elbl~ ~33,174)
b. CSR fU1d (1,298,308)
"'atAllllllll ~ m'/9 9&,716,461 127,736.1110
50
17 (g) Other Equity
..
.....__. ..,..,,.._
Pllttllln Qmnt'fllll' PnMOlll'l'W

~1131 RrMvss
11111Jr.n::& fl8slrw:I 1,684,479 1,684,479
Regt.tiay RllseMs 23,288,845 21,857,238
Fair Vaill! Ras8M!& 72,217,427 21 ,2:21 ,074
kluirial Res8lv6' 2.112,244 9.005.569
Rwilua'Joo Relsawl
cash Fbt Htldge RassM!&
CSRFuld 1.296.:m
Ott'$'~ 11,027,818 35,249,433
Tllllll 111,629,121 89,017,793
18 Provision•
l'Wttllln QmntYlll' Pl1Nbll 'l'lr
~ll:j fllf em'*'-bn1'8
Dl'l'IMstln f!I' lJ!2l8 EtcElmwn 24.611.722. 25.611.173
I) De11ned Benell'I Plll1 -.1he ~ 48,950,962. '¥J,&rl,767
II TEmhlbn Ber*
M~sr ba'dlt Ill> be 31.880.565 31.319.229
vl """""e lD sla!!
\oil Sll!ff Brnus 20,965,558 26,264,321
Gall1 ™lfr1ll . .
frooll!lon fir tax rdaled I"""' cases . .
~n ftl" noo-tax - c:asss 5'19,047 579,047
O!he!s (to be S!ledtedJ
1b1llll 124,987,1145 123,0ln,537
(8) Addltlanal Dllclot1Ure und« or PnMllona

Opell~
D.rpdOll
Balalca l~bnl UUlllll!d I
11111'\Ila' lkJNb
Ro';uwd UIM1nd~of
b'tW DllcDIJnt
~
llllla!lc8
PRMsm fa'tlX rela!ed leQal cases . I . . I . . .
PRMsfoo fa' rm·111x le!1ill cases !i79,047 I . . I . . fi79,047
(b) PnMlla" wtth apec;liecl PQ'OWI lltthl" 12 motltl•:

l'lrtblln Dmnt't'W Pl'MulVW
~ill' 8"'"....... bel1etts
DPrlll1!too fir l..eal'e Encasllnent
I) CElhed Bersllm Plan~ 1h& ,.....i
ll Tem*1a!lon Bn1ls
MOOlir lllMlt - be
\lln<Mtl91!Jlllilf!"
1.41 Stff Boous 20965558 26 284 321
Cl!6l1 ™lfr1ll
Tclll .2n,965.55& 26,264,321
"7'1'~~~~flt 51
~I ~--...&.1........a;ttMWrrLTD. - - - - - - - - - - - - - - - - - - - -
,.
......,__. .,_......_
19 Qrou ln•uranc:e Contract Llabllltla•

l'llUculn QmntYllr Pl'M111"8'
Uneimed fl'lmltmS 796,01 S.358 636A95,912
l'reniln~ 8,429,979 4,096,000
~CllTild Bl.t Nol~ O~Rl 64,406,675 78,048,432
~*'!!Claims PrO\tilon 757,002.f1fil 882,134,718
~Fa Mme OeWilbl
llfll 1,1127,Mll,5119 1,600,775,062
20 ln•urance Payable•
l'llUculn Qmnt 'l'lllr Pr1Ma1111'1ar
Payalil ti llel/Wef11 89,761.098 91,764,318
Payalil b OltU" lfllJJllfl'» ~ 7,00S.756 2,722,fJIJl
VdllidlllM Prellim . .
VdllidlllM aaim . .
Ohi~ (In be $pecll\ld) .
llfll 97,DG9,S54 114,4!7,llllS
21 Current Tax (Atlseta)f LlabllHlea (Nat)

l'llUculn Qmnt 'l'lllr Pr1Ma1111'1ar
Income Tax LllllJ1ties (58,779,686) [81,572,1168)
Income Tiil( Asss\lJ 177,694,951 182,002,746
Talal 118,915,K!i 101,229,7811
22 Borrowings
1'111fculn Qmnt'l'W PnMauc1'11r
BCX!d
Ddls1till9
TEll!ll Loan · Ba/j( <lid Fin:rri:ll ~
l!;ri( °'9nt1lft
~ (In be Spedlec&
Talal . .
52
' 19 (a) Qrou ln•urance Contract Liability
~
Fig.itr.NPR I"
1·" Plllcllln
..... U.r1Buin. 1=1- I
;
Rrlllfl~t;r lllmt ~ fil:ro Aflltbl Cd:lle nl Qop Malnu
Al at lil'Da! 1, 21118 .
Uleimed Pnm~lll! 108,700,652 325,407,087 25,662.261 44,443,738 20,674,283 118,343 67,671,S71 43,l'lJ','!18 636,495,912.
PremlllTI Defderq 4,096,000 - - 4,096,000
llNR anl llNEA 6,233,548 Sll,887,, 57 255,955 1,194,981 3,931,202 - 617,114 4,928,475 78,048,432.
~Clitns 100,958,264 191,022,037 8,683,000 342,005,196 164,680,000 - 16,081,396 58,724,725 862,134,718
Mlr\)in f'«MYe,ge DM!liJ1 - - -
CMlm (ID be Spedlled) - - - . - - . . -
Totlll l!Un:eAI dSlnwan 1, 20111 ZIS,982,484 577,3111,281 34,8()1,298 391,739,915 119,285,485 111,343 84,370,0lll 107,3111,178 ,800,775,082
Clll!lllllll durq Ille year

l.kltrillled l'rlm~1111l 28,962,859 49,796,71!) 645,966 58,496,796 (20, 149,047) 36,522,858 (9,006,3$) 16,232,648 161,522,445
PremillTI Clolijerq - 8,429,979 - (4,096,000) - - . . 4,333,979
llNR anl llNEA (2,115,163) lB,159A66) (131,167) (682.820) C;!,008,585) - 2B6,007 830,446 (13,639,757
~Cline 145,306,099 (10,901,387) 9,774,m (120,120,S77) (164.,000,000) - (11,2$7,376) 26,856,803 (125,042, 161
~ f'« M;erse illMab1 - - - . - - . . -
~(to be Specllled) - - -
TOllll CillJlll8t ~ !ht yeet 172,173,805 38,185,841 lo,239.075 (86,402,800) {188,477,6$2) 38,522,35a (20,018,737) 4$.919,WT 27,174,508
,. atAlhld! end. 2079 .

Una.nedPrem~ 137,773,521 375,203,802 28,30&,227 102,B40,• 52S,2!8 38,841,200 5&,fm,Z12 59,980,828 798,Ql&,35&
Pl'9rri 1111 Dlltlcll lll:Y 1,4211,1179 . . . . . . a,429,979
llllRllld llHR 4,118.385 52,727.,991 124,788 512.161 262,611 . 9114,112 S.758.VlO 64.406.675
OU1llllld ng Clll rra 246,2S4,sa3 180,12D,650 18,<157,357 221,ISS4,619 . . 4,734,0:20 15,581,524 757J»'l..'!El
Ma/Uln I'« Mlell8 DMl!lon . . . . . . . . .
O!!Hn (lo bo Spslfted) . . . . . . . . .
To1al Balna Al atAlllladh 32, 2079 Sllll,156,2!9 616,482,122 44,890,:m 325,337,315 787,153 36,641,200 64,SSS,344 151,301,1175 ,627,9411.50
gi
I
~
19 (b) Relnaurance Aaaets l'TgJttNPR
l'ri:uln Lb8 rt BlllMI

Rr.?nca~ lltm' llllt!I ~ Mero Mlbl Clllll 1111 Qap Mallnoul
N. et~ 1, 21»'8 .
lilBllllad Prsmklrm S'2,9CJ7,468 12ll,794,989 15,228,596 40,450,364 34,159 . 54,137,257 23,050,106 306,6112,938
f'l"eml1J11 Deli:leooy . . . 3,999,000 . . . . 3,999,000
l!NR and l!Nffi . . .
~Clltns 70.029.307 63.5Cll,427 6.1176,711 334,786.789 , 64,660,000 . 12.S85.117 53,315.613 7D6.134.964
~ RI!"Adl'eiw °"'4alb1 . . . . . . . . .
OOm ~be Specifaj) . .
1blll Balln:aAI dS!nwll! 1, 20711 122,938,775 114,298,418 22,2115.3117 3711.238,153 184,1194,159 . 117,002,374 78,365,719 ,!116,738,902
Cllangea du mg Ill& year

lileaned Premklrm 37,7211,122 911,100,607 856,376 56,2.30,<Tl1 228.459 36,5D4,786 (7.208.972) 13,255,479 21)3,695,878
f'l"emlt.m Deli:leooy . . . (3,999,000) . . . . ~.999.000)
l!NR and llNffi . . . . . . . . .
~Clltns 148,779,178 9.667,996 10,648,725 (116,316,680) (164,660,000) (ll,700,477) 30.473.991 (90,Z17,167}
ttai;. RI!"AdYe111:& ~ . . . . . . . . .
~~be Sped!aj) . . . . . . . . .
Tillll l:llanoes IUQ 111& Voll' 1116.606,299 76.881,803 11,li06,101 (84,086,669t (184,431,641) 38.504.788 (16,909,448) 43,729,470 169,479,711
Al atAlhadl and. 2079 .

UnBll!llld PnmU!ll 90,633,589 1118.8911.596 18,084.972 96.680,3115 282.618 36,504,788 48,928,211S 38.3CIS,5a5 510,2911,816
l'llm 111'1 Dllftcla ncy . . . . . . . . .
ll!ljR and Bra . . . . . . . . .
~ngCldm11 Zlll,808,485 73.(151M23 17.62S.438 218.470,209 . . 4,164,640 83,789,804 615,917,797
Margin Fer AIMrle De\tallon . . . . . . . . .
otlMn (to b8 Spedtled) . . . . . . . .
e
To111 llllrn:e.AI dAthadh 32, 21119 309.442.074 259.95M19 33,711>.408 31S.1S0,5S4 26Z618 38,504,788 51,092,925 120.lm.1119 ,126,Z18,613
iJ ••
I
It
~~ i
..
.....__. ..,..,,.._
lld:IJln Qmnt'1'11ar l'l'IMIMlll 'Mw

Borw:l
Debnil9
Tenn loall • sn and Financial ll\Sthfu'I
BarkO;mhft
~ 6o ~ Spedf'lld)
Tclal . .
23 Other Flnanclal LlabllHle.

Pmtblln Qmnt'l'llr Pnl!lbJI Yar
Redeemllill& Prsfnl:e Slaes -
lml!emali! Qrni.lllive Plllfnlc8 S1all!& - -
""""'leID.,,.,.. 10,384.186 15,026.195
f'!l'.'lm ID Su'-1 9,552.696 6,324,541
~Sl!at8·
~-
. .
"'"""le ID hllm:I l!i,707,&36 15,606.147
Slntv~~ 30,703,1:21 20,275,925
fleUlrlllln and -
. .
S11J1Nmn e"'""- berEt!s ,.....""' . .
GsaJaN~s -
I) Bau£ Payimie . .
I) Olher em1*7Jee beoo1!t payali1 (ID be Specl'JedJ - -
~ Fae Payllille -
Olllera (ID be Spedf'lld) . .
TllCal ea,347,1138 67,232,eoa
PQ'lllM wtttlln 12 mon1tlll:

l'llttllln Qmnt't'Blr Pl9'tbil '1'1111'
Redeemable f'rBfrl1lra! Sle1!& - -
lll'lldamalil Qrni.ll#le f'rlR1r1c8 Sl1arell . .
Plmlll& l>Pae!llli 10,384,186 15,CTZ6,195
Payabe ID Surw,m 9,552.696 6,324,541
Rallridllill8 stsars ~- . .
F'8'i'11Jle ID h.md 15,707,836 15,600,147
Surnv Qlldjn~ 30.703.121 20.275.925
Re1entlon rd ......... . .
Sl1Jrt-11inne""'™"'~ ......im -
GS.i>IV-8 . .
l)Ba1119~ . .
I) Qhir 1J11'*1f>;le bellji\t ~(ID be~ -
lid Hie Payable . .
Olhooi (ID be SpeclfJedi - -
Ta ea,347,a:sa 57,232,$08
"7'1"~~~~flt 55
~I ~--...&.1........a;ttMWrrLTD. - - - - - - - - - - - - - - - - - - - -
24 Other Lllbllltles
l'lrltuln OmntVW PnMOUI 'tW
ms -1e 7789812 7 521416
VJIT"""11lle 23,033,784 14,873,068
11/dJld """"'*' - -
1-PremlLl!l 20226041 16 095A16
Defimcl CoomlSslon lri::ome 96,953,388 70,015.668
lrwlilDI Sll\b Hie""""'*' 15,841,733 14,142,529
l.8a!81 ~,_ 39001406 572.573
Defimcl lra>me
Otl'il!3 lln Ile
Talal ~1&4 11.'! 221 070
Paylllbla wtltlln 12 monttia:

Pllli:uln QmntYllr l'llMOUIYlll'
ms-1e 7.789,812 7,521,418
VAT l'aoJabi9 23,033,784 14,873,068
ll>'idllla -
,_.,. Prsn11111
-
20,228,041
-
16,095,818
Oefll1lld Collrni&sion lrmme 96,Q53,388 70,015,668
l11!11rant8 SeM:e Hie - 15.841.733 14.142.529
l.eall81 ....... 39,001,408 572,573
Oefll1lld ltDlme -
O!lm tin be
TalaJ
-
20Zllte.184
-
12:1,221 ,070
56
~ ~
...
,,, Detalled Information on Sbrlement or Profit or Lo88 Account8
~
r 25 Gro88 Premium I
E
Mama
~ l'lelrlllnl
Qmnt'Mr Pl'MHll'Mr
1,487,697,300 1,244,T.l0,908
I
s;
PrnnUns (JI Ri*1uw1m llS,476~ 169~
&ass CJ!llmo 11 lta!BI f'llnUns n 57425 14•
TGlll Qtm l'!lnlU!ll 1,426,74'.937 li42!.31SIMZ
I'llMi wlll llllllldG- im.!

l'Wlillal
.,....1111 Dha l'llmlllll
Qinwt'tlr l'rllilllll'fllr
240,094,501
Cllrllt'fllr ..........,
l'Aftlml 111 llilemnnl::I-
979,459
• ~ JnlMlrnllf l'nmw
~ll'llt'fill
l'rllillll lW
6,ll72.500
. . .Eamm l'llmlllll
QmlltlW ....... 'ftlr
249.386.780 247.146.4SJ
Ar1/~ 277,866.554 703.008 CZS.982.8119)
~ B66.ll53.B35 595.715,005 95,531.445 125.976,689 (645,986) ZZ.B76,W2 783,739,114 744,588.386
~ 4S,347,D74 38,618,953 - 65,000 (96,522,89!) (4,639,583) 6,824,216 34,044,311
El~~ Zl0,321.734 1211.183.166 234,404 80,149 (49.796.115) 1Z.IM-7.284 170.759:423 133.000.599
"bl> 525,235 12,833,999 - 41 ,964,511 (54.400,700) 13,244,836) ""q675,561' 51,553,en
Aviailrl 4S,735,669 . - 236,685 9,lnl,359 (50,511) 52,7~,()28 176,174
cattle arll Dl1I 104,9'l5,340 132,623,108 - . 20,149,()47 (22,891,:B41 125,074.387 109,731.814
~~ 128.322.000 11)4,681,514 7,138 223,237 06.232,6'1S) 3,103,636 112,006,549 108,000.387
TcDI 1,487,11117,SOO 1,144,730,906 116,4711,082 169,525.729 (157,4211,445) 14,0U.227 1,4211,748,957 1,428,519,882
gi
I
28 Premium ceded to Relnaurara
~~ 11111111 rt Pin..,. Pnmunt Cldtd10 Rltlaui... ltltllu111'•l!llu rt PnmUTICtdld

~10RINlrn Oii/Vt In~ l'tlllilns
PlrtbJln cumilt'1'l!ar l'lwlclll YNr QmntYlll' l'lwlclll YNr cumilt'1'l!ar PrMu '1'1111'
Are/~ (184,089,787) (159,107,617) 37,726,122 rzs,500,205! (146,363,665) (162,007,822)
WJlf (387,774,667) (312,468, 158) 856,376 (16,199,887) (386,918,291) (328,668,044)
Mme (36, 103,144) (31,337,830) 36,504,786 3,545,452 401,642 (27,792,367)
~"J [208,035,840) (112.062.568) 66.103.607 (13,433.032) (141.932.232) (125.495,000J
- (13.518,2~ (17,300.~
""°
~
Cd! and QlllJ
(43,577,971)
(100,098,486)
52,231,021
(7,208,972)
228,459
52.231,021 (30,848,296)
- (50,786,943)
(83,940,272,) 20.665.878 (83,711,813l (SS.232.009)
~~ (81,745,681) (83,549,007) 13,255,479 (3,140.~ (88,490,202) {00,6S9,92B)
Tlllll { ,025,2!7,9&1) (7911,141,926) 199,685,871l (49, 192,742) (825,570,4&S} (847,334.~
Hiit Ea.meet Pnmlurne

Pld:uln Qmnt l'llll' 1'11Mlllll'lllll'
Groos~~ 1,426,746,937 1,428,319,662
Fllwrilrr& Od!d IR?!'i 570..ull'I IR47.334 Rm\
1lllaJ 001.178~ 6l!0.986.194
27 Portfollo-wlae datall of Nat Ea.mad Pramluma

en.&rnlld Pnmlimt Pram_,,,,. Oedlld Nit &r.i Pnmll,,,.
PlrtbJln cumilt'1'lllr l'lwlclll YNr QmntYlll' l'rlvlCUI YNr cumilt'1'l!ar PrMu '1'1111'
Are/~ 249,386,780 247,148,460 (146,363,665) (182.tm.~ 103,023,115 64,538,637
"1Wr 763.739.114 744,568,385 (385.918,291) (328.668.D44) 376,820,823 415,900,342
Mme 6,824,216 34,044,371 401,642 rzT,792,367) 7,225,858 6,252,00S
~"J 170.759.423 133,090,599 (141.932,232) (125.495.600) 28,827,191 7,594,999
(53,87!),561) !)1,!)53,672 ~.848.298) (1,644,~
""°
Altlfotl 52,742,028 175,174
52,231,021
[50,786,943) .
1,955,085
20,70$,373
176,174
Cd! and QlllJ 125,074.387 100,731,814 [BS.n 1.s131 [85,232,609) 41,362.574 24,499,205
~~ 112,096,S49 100,006,387 ~.400.202) (00.009.928) 43,60$,348 41,31$.400
Tllllll 1,426,746,llS7 1,42!,319,8G2 {125,570,413) {B47,3S4,fl&) f!Ol,176.* 580,1135,194
58
~ ~
...
28 Commission Income
I
~
flellllllr.ml Oonln~ llDllllB
Ollem
Total Ccl11mi.lon lncon-.
Qin-.it '!'brat
175 974467
175,974,487
-
Pmtu\Wt
1fi8455 712.
1ee,4S5.712
;
Portfol°""'• cl111111 of Commlnkln I n -
RlnllrAC'mlnllllan h:lrnll llllllmll C'm1 nllllan h:lrnll PrdttQrm«""n OllllJ (to be lijllcllad) Qmrf'*n lrrane
l'lltilDI umn:'flllr Prllba1111 UJ mlllt'11111' Pnlba1111 urnm.,_ Prlllo!a.,.. UJmlllt'11111' Prlllola'l'llr umn:'tlllr Prlllllilla'11111'
Fte I Prqierty 62.031,546 51,991,089 (21,372.842) (12,000,745) (S,659,502) 1,367,897 - 34,009,202 40,388,240
Mo1l:r
Maline
73,913,102
18,056,082
81,734,624
17,707,216
{30,359,470) (24,432,368)
(l),637,230) (5.573,702)
13,508,682
168,531
2,580,943
(2,357,667)
-- - 57,062,314
12,569,354
59,883,200
9,775,847
EIJJi18a'llQ 49,157,728 33,324,476 (19,007,289) (9,572,941) 3,251,509 - 32,501,947 23,751,538
Mk:fo
!Ma'JCJI 411,504
- 5,484
-
-- - -- -
-
-- - -
411,504
5,484
-
cattle and Ollp 23,478,115 23,202,548 (T,9'17,Piii/i (9,200,268) - - - - 15,500,300 13,994,280
Mlscellrleous 34,168,879 28.421.669 (11.698,750) (8267,646) 439,681 502.003 - - 22,900,810 20,657,126
Total 281,218,958 '-3$,377,308 (96.95$,SIG) (70,01S.670) 11,708,900 2,094,G76 - - 175,974,487 188,-455,712
!:!
I
l'll!i:uln QmntYar l'llMlllll VIII'
tm111t mm&1nxn flnin:lll'-tl Mllillllnd atAmDllll8d CGllt9
nR1a1 IA...itllllh 'A' am~ hllll1'm 141,795,059 127,280,839
II Fliald l'lonn<Jtlll!h ~ Bmlk . .
II Fliald DlnWt lllltl 'B' Class Anin:tf ~ 16,723,436 11,665.&l(l
o.I Fila:J DepoQt vft11'1 'C' Oe.18 fWm ~ 4,216,233 4,542,71>4
~ llebectres 1.984.400 1.509.579
11l 8orllls IPft'ral GowlnlllfllV NIBf ~ 111 N- GcMimlTRlll 220,650 220,650
\ii Prsferera Sllirl!& of Brit and Fi~ I~ . .
\iln Blllk '"""""" o1hlrtlan Fbced • - 2.499,432 1,433.301
tr A<Rlll.oa/liJ .
'° !i'I\~ Llms . .
Id) Oller~ Income [lo be Sped!ledJ . .
~A1se\3 Mealutld al MOCI .
O~ lnarns on Dlltien1lreiS . .
IJ ll\tb"d tmne 3,193,634 684.241
Ill 00.,-1,._ 1 _ (lo be Spedfled) .
FNl1imAlsem Meiwed al fVIPl . .
0DIMind tmne . .
ll ()I& lmnmt lnami (lo be Spdlea) .
Rsn1ahxml . .
Oltls~ [lo be Sped!ledJ 7,114,912 .
MlooellsriBOW llDJlll! 15,545,170 2,008,711
barns RfllilBI tD Pre\iws Yim . .
llilllll 193.2!tZ82S 149,275,675
30 Net Oalnlll (LOllHS) on Fair Valua Changea

l'll!i:uln QmntYar l'llMlllll VIII'
°""""" b FU'lalue cf fhll1clalllilDl MllaSIRd a fVll'L
61'nlltv~
.
.
.
.
ll Miii& Aird . .
Ill Oltm /In be .
0...- b Fal'~LS on~ . .
· - b F1ll"WIL18 o o - llBITI\; In F*\latie H - . .
a - b FU 'lalue oo Hll!llria bstnimn In F*Yal!s Hel!rm .
~M-·-'of ~l'a1k!nonrat1Rlll'I~ . .
ottmnnbe . .
Tlllal . .
31 Net Reallsecll Gains! (Losses)
l'll!i:uln Qmnt'l'elr' l'llMlllll \'all'
Ridsacl Gamliu-...i on ll!mmn'tm d ftl8llclaJ krm M811S11lld ~ PJ11'l
Df<l1..., bslrumllll!S
in w.a Rllll
llD Olhets ttn be
RBllilad Gal1s/ll......i on llAIMlfl~ cf fhll1clalA'lsllls a!Alno!1ls8d Costs
BDebe!mes
i~ Bord&
llD Ott1llfS ttn be
Tolll . .
60
32 Other Income
..
.....__. ..,..,,.._
l'll!lcUllS OmlltlW l'ttMculW

li!Mll!l'la d ilmllt oo FhlriClal kllia:I al Amo!1ls8d Cost . .
nEm-1..o111 .
il !ml.I .
ID Ollflll ">be . .
RI..., ElcdRl"" Gal16 .
il!nst Wine fnrn FmlC8 l..8a!is . .
Prottfnrn d - 01 Prnoo<t.I, Plait anll - 217.283 .
Mit1111a!bl 01 Def!lred lrnime .
atw tbct lrnims 9311 ~ .
st>rmh:ome
0081 (kl be Spedl&J)
I. Wrttten Bad( d l'l1Mlloo for Loss h I~ . .
I. WrlUen Baek 01 FnMsb1 ilrDoLflUIJ DelJt 19,470,629 21,014,186
Telal net,.._, ganelld i.e. u.eee.eee 21.014,18S
33 Gl'088 Clalme Paid

Pa!!lcUIJS Qmllt'IW Pl'Mlll'illlll'
(2'oss Clltns Pit! 1,147,843,()33 966,320,697
Telal 1,147,$43,033 856~21)Jl97
34 Clalma Ceded
Portfol~ dllltllll of Gl'oM Cllllrna Plllld and Clalm• Ceded

~am.NCI Cln&Qldlll llrl Clan 1'1111 lllfllrt
Clll'1I h Cclltrlct Lllbll 11111
Panfldlrs Qmnt'l'W l'rlMDlllYw OmlltlW l'rlMDlllYw Qmnt'l'W !'nMIMISlW
Fh IF'rojmj 165,625,755 145,407,797 118,516,174 118,438,594 47,109,582 26,g69,203
t.tlb' 641,600,969 349,668,766 124,711,079 115,672.337 416,789,880 233,996.418
Mime 12,545,323 6,351,714 10,485,327 5,032,575 2.~.006 1,319,138
~ 246,688,321 106,789,387 238,596,651 99,277,850 8,000,671 7,511,537
Mao . 215,624.852 138,245,957 . 79,376,895
hllful . .
cattle and~ 117,463,184 61,429,890 93,970,547 49,143,912 23,492,637 12,285,978
~-IOOllS 64-.W9A90 71,148.302
1,147,843,033 956,320,687
33,097,760 31,159,763
554,!70,989
30,941,730 39,988,539
523,46S,495 401,448,708
Ta1111 619.!79.5'7
"7'1'~~~~flt 61
~I ~--...&.t~ttMWrfLTD. ~------------------
36 Net Change In Insurance Contract LllbllHles
l'llUl:Ylrl CUl!lllt 'liar Pmtoul 'lillr
1111 ~Qiana h ~ Llllilllhloe ~nt'fw Pmlu\\111'
OlaJlM in~ rustil<IM Clain'& 1125 0421611 30S.468.019
OiM"" In llNR 11111 llNEA M3,63S,757l 1.411,638,7141
Qwl119 IO MM*! (llf M.'nl Oe\W(J1 tlMlll
Olan"" In PrerWn 8429.979 .
Tote!~ In Gl'OM lllUellC$ Qimrecl Llllbl111N {130,251 .ll.'1111 2$7,829,3()5
lb\ QIAMa h ReilllllllllC8Aaell
OiM"" In RellBlll'ICe Alse1s Q1?allld on Ckit31111,..,, Claims 90.2.17,167 t317,868,h4J!I
Qwi11e In RalfWlllOlj~ Q1l8led on llNR ll>d llNffi
<lllng& In Ralmlll08Aals Q83lBd on~ ill' hMil'l!8 lle'.1mloll (1.Wl)
OiMg& In RGllUll'IO!I A!sslli Q1!lltBd on Fl1!rrUn Dltdecl::y - -
TaUll Net CllafOe in r-ce ec.mu:t Lilbiliti!I ll0,217,167 (31T,86&,54a}
Nat IJlanga h hlunne cmnict Llllilllee (40,0S4,773) (611,11311,242)
"'-CNl!ll• ., camd llllbll 11111 CN1191hRd--- Nat airoa ., Crllflll:t Uelll Iha
Pllttllln Cllnwt'l'lllll' Pmllu'l'lllll' a.rent Yillr Pmllu'l'lllll' Cllnwt'l'lllll' PnwM 'l'llll'
!hi PrqllJ1y 143,190,936 (42,006,035) (14$,779,17a) 42,691,830 (5,588,242) (304.205)
Mlm' (10,630,874) (42, 130,120) [9,557,996) (12,297,117) (20, 188,870) [54,427,236)
Maline 9,643,110 (569,361) (10,648,725) (677,655) (1,005,615) (1,247,()36)
~llBBtlg (120,800,396) 170,090,566 116,316,580 (161'.1,507,521) (4,486,817) 523,045
Mlcm (168,328,585) 188,591,202 164,661),000 (164,66D,OOO) (3,668,585) 3,931,202
MaUoo - - - - -
Oa!IE 111d ()up (11,010,379) 6,626,434 8,700,477 (7,536,526') (2,300,002) 1,009,009
Mlsc8lirleclls 27,687,249 (3,723,361) [30,473,001) [5,681,559) (2,766,742) (9,lll4,920)
1btll (130.2S1,Sl3f) 2:57,1129,305 90,Z17,187 (317~ (40.034,773} (60,039.242)
82
~
38 Commission Expenses
Psdculn CulldYeer PlewlM't'Mt ...
Cmlnlmkrl ~~ ai l:tact Ml121D ColfJ1!:tll
c:onmlSskrl """"1111eS ai Rltlanr1ce
29398149
199,362
331m,661
329,637 II
I ~ l»rtni9"1 •
0'1ln "" be
Tm! 21
46,319 ~.511
:w.ne.71111 Is;
D
--an
--
Poltfolkl wlM dleall of Co111111i.lon &pen-
Con!Nlll111--111 Conldll!lll Dlflrr9CI ~....... OIMll("lmSpmlllt
. tmn111111111-..
Dhl:t-- Dl*lrllll 1111-~
l'ldmll CUNnt... Pllvilll'IW Clim...- - l'lllila- Q11Nnl 'llllr l'lllild..., Cllmk ~...,
.
CUNnt... l'i•ilak
lb/ ~ 4.560,352 4.587.759 166,384
.
2311.11 2
.
(122.575) ll82.B24 - .
4.003.181 5,'481!,6'15
WJif 6,an .100 6,726,970 \:325.887) 375,1!16 - 5,745,613 7,102,137
Mime 1,016,tlll9 897,1165 . 13,000 (10,-431) (146,197) - . 1,006,268 784,467
&-0~ 5,225,973 4,530,256 82.501 12,022 ~OB3J 629.574 - . 4,816,381 5,171.1!52
1'.t[Jll . . . . . 21 ,187 - . - 21,187
kiialiln . . . Z'l,668 . . - . - Z'l,668
Cllle and QlJp 9,008,457 14,8B3,822 . . 2.086.225 (1,413,527} - . 11,964,1182 13A70,2ll6
IAsoel~ 2,634.007 2.304,189 1,468 44,734 ~18,929) 329,482 - . 2,3'1 7,006 2,678,400
TIDI 211,398,148 SS,OS0.8111 198,352 3211,557 46,319 4511,511 - . 21,843,821 34,118,708
Searac lkM af CClmmlulan EX11911111
Fte/.......,
Pri:uln r..n•
1--o-
..... -·--~
~~ 11111••1:1~
4.5ll0,352 166,384
.,.,.,...
lignyC..~
2,245,215
.........
1111. . . . . 0,11 ....1
63,960
~ 6.071,700 . 2,926,422 .
Mllt1e 1,016,6119 . 452,968 .
5.225,973 3Z501 2.428.684 17,397
f.iJo . . - .
Niallon . . .
Cattle llld r>nn 9.668.457 . 5,528.316 .
~n!CU 2,&34.967 1,468 1,170,264 816
Talll 211.-.149 1 14.751 ...... 1""172
~
I
l'llUl:Ylrl CUl!lllt 'liar Pmtoul 'lillr
GlllSS &.lb! Ries 15.841,733 14,527,()41
Reinsursrs S1al8 ct Sa\G F-. 9333.596 S.955.918
Tb!ll e i;nii 1a1 7.571.123
Gr95ncllf99 Rl*mlnnSlll/e rt S1Mc11 re. lllt5ncll 1'99

l'lrllc\lln C\l~'lillr Pr'1llM 'lillr CUTtt!IYw Pr'1llM 'lillr C\l~'lillr PrevlcwYNr
Fi"&/ l'rqlerty 2,783,696 2,410,740 1,833,859 1,581,282 949,827 829,458
MOOJ 7,643,851 7.216,924 2.857.8&4 1,864,917 4.785,967 5,362,007
tJaii,.;i 433,471 386,640 361,()31 312,729 72.440 74,111
Ei'(lilsailg 2,205,561 1,20.2,433 2,188,242 1,120,037 17,319 82,396
Mlcm 5,252 547,985 . 603 5,252 547,382
/Ma'J(Jl 4$7,357 300,640 435,780 362,100 1,S77 4,734
(Jallle and O'op 1,049,253 1,326,231 839,403 1,060,985 209,850 265,246
Mlscdiriecus 1,283,292. 1,()49,()48 817,387 633,208 465,900 416,700
Tote! 15,$41.~ 14,527,1)41 e.~$6 6.&55,91$ 6$$.1$1' 7,571,123
38 Employee Benefits Expenses

l'llUculn Qrrant 't'llr l'IWlllll \'111'
Silwtis SS,48:>,956 67,364,018
Abiatm 39521618 2a 910 ,,,.
O!hli' AllOWil1ces 5.424.153 5,200,1()4
Delhed Bntt !'In -
n,_..., 4819293 17417~
I) Oltm ltn be - .
Delhed Cl:mbrli(Jl P'iaffl -
nl'nMdll1t Rl'd 7254398 5278~
l)Oltm ll<l be -
l.saYa Ei m mrrt 3,038,385 14,D3S,087
Tenrmlfon BEnlllts - .
~Mlwa!as 9.402.335 7,151.576
Trani~ Expemes 429,736 87,109
U'frJm - .
MllltlCal - -
Stall lll!ill'lrol - 310.749 2.450.149
Stal!Wlifn - .
Balw 2.0,96:>,558 26,2&4,3Zl
Others (In be Spediedj - -
Talal 178,115Z1a1 174,252,515
64
..
.....__. ..,..,,.._
39 Depreciation &. Amortization ExpenHa

Pll!bJln fll'nlllt'l'W P1'llYbJI 'l'Mt'
De on PmoA1t.1 Plait and - ·-N!*5l 20.973.390 9.800.170
~ on meslmil1t ~lf~A\
M1or1i!a!iJ1 of Al!8ls - Nol& 4l 360,032 625,000

Tlllal 21 ala422 10.425.170
40 Impairment Loues
l'll1lclUR CIJ nart l'llar l'l'IMlla'liler
LDsses on m;. llMlStm!rll Pro_ Md Ass8ls . .
DPro...., Plalt8111 ""•*'lllllt . .
i~ llMISll'nsnt l'rope!W
llD lmmllEA!Jsels
.
. .
Losses on ~A118\3 . .
~ lnwstnsnt . .
ID I.OW . .
llD at.er Fr.aidii.Asl8\8 . .
M !:all! and caat\ "'iMllrt 3.a.... 999 19470529
~Ottm tin be
iTp0tm\llt Losses on OltlJ ~ . .
0flel11111r.roi IV!.sll:J . .
10 lllSllll'ICe Retd18Ji?s
llD lsal!ll ~es . .
M O!heili lln be - . .
Tblll 3A9Sam> 1DA71\52f
"7'1'~~~~flt 65
~I ~--...&.1........a;ttMWrrLTD. - - - - - - - - - - - - - - - - - - - -
41 Other Expemiea
Pld:uln QmntYllr l'nMDlll Yllr
OlherDnic:t . S08774
Rant 12,544,507
Btdrlr#J !l'd'lil!l8r 2.700.725 1.996.572
!)..,,;, al1l Mail!Briaooe . .
Bla!l'la 622.482 199.982
W*le 278.353 232.148
Olfm .,.......,rtalll.la&lmrles 765978 769Aae
Olhera 50.585 59.059
TploMnne & Co11Y11Jrlc3ion S.244.G48 7.38'l.641
- n Stall-N 7011 Ml 5D17m
Olfm Cmlm2li! Expe/'191lt1 .
RB arid. 9912.493 6048~
T!Mllna" .
• 1 2Af\""" """"lQ
il ..,,...n 89143 .
. .
~-··-~ . .
hllli!Oil ~m 1368.407 424971
.. l\llliS 1127500 1127"""'
LBQal and Coodlng 8cpa\s8s 1.788.700 1.344.200
Boollli MU PerlOl!l<:als 14S,211 00.573
ldi!rtlserrllll: & Fmoolloo - 3,182,925 2,121,172
BulillllSS Fmoolloo 1,987,437 667,355
QJesl Enbtalrvnert 3,719,551 5.400.461
<J\jlld Dooitkns 26.001 1!2,131
Bald MeeliM Flies and .
Ball1I Meellnri Hie 1.730.000 693.462
Boirll Mee11nn 124629 103.676
Ctrnntlee Meell~ Fa !I'd .
Cm\~ Meeli111 Flies 1,2QS,411 546,000
Qrnnftle Mee11111 Bqlen!es 663,330 406,116
Anru!GemM- - 1.l~l9,289 45,000
..
...... 11o1.-. """'
h4
.
140000 140000
.
II Tax Au:ll 140.000 140.000

mi•-- -......,. ~nnnn
"""""
.
l.10flarl'9es
~ h1llmal Au:ll ~0.000 300.000
"'otiem 152.120 50.000
!lwkt'hmno 5192;;9 2416Tl
f'1lell'dC'.i.wn..t 1.508.682 1.004.185
- . .
.
w..n- . u- 5.585.020 .
Olller .
!lJ!scuf'Cino ~ can:t . 306.663
MISallllllllOUS - 1864S.225 18.374.148
S~PS81at- .
Tlllll 7&11A&474 119.103.801
42 Finance Coat
..
.....__. ..,..,,.._
PartlcUln CUl!lllt 'liar PrlVloul 'liar

LmmrlM or d9ooultoo f'llrlllblS
Ln..;rmo d dscoort on Firmcial l.iOOiliti!s at Amoitssd CoslS
bleresl- • Bood
htlre6t- -~
l1!nst • Term Lllirl
bleresl- • L£ale
~ -~LO!ll 4,936,172
(jt\fiMlie
Tb1ll 4.9381n .
43 Income lU: Expense

(•) lnc;om1t Tp Expe,_
l'llttulll'I Qmnt'tllr Pnl!lbJI Ylr
Qmnlfill(
~ lrmmaTBK b"lhaYear 58,n9,686 81,572,ll58
11 haJTia Tax.....,,. to Prior l'8!1ods . .
ll8f1rnl(I Tll.lc Fer 1118 YfrM .
~ 11111 flMmll af lllnrwvwv dlftiretml 1,705,600 445,073
11•-htaxr.S . .
Ill Ramml'iJn ar llflM mlori38:i .
MWi!»-doim <X re-.m3 . .
Ill at1lil3"" be Sn•r-n . .
mm&Tax OOMS.ZSS 112.0111.o:n
"7'1"~~~~flt 67
~I ~--...&.1........a;ttMWrrLTD. - - - - - - - - - - - - - - - - - - - -
{b) Reconcllldon of Tllllllble Prciflt a A-.itlna Profit
l'llUculn Qrrant 't'lllr l'IWlllll 't'lllr
. Pmtt 8*11 Tax 191,747,683 262,778,353
·-sTaxRa!B SO'Ai 301.
1Jlc at lllll llllllllclllilll IDI en Accouml.., Pnft lil624.305 78.833.filll
.Add: Tai effect"-'*'*
~ lll!alklMld ............~ - -
that eie net deducdlle tot tax
74391S 985056
II tlsaJawell -md MalOO!im:e - 6,368
11 llffllrice on""""""~ ltic ~ ~ IA7,7Mi 1()4,786
.,, l'llMl!Oll ill' dooliiJI cilllt ard ll'MlS1mert 1650651 .
M Shill rda!.ed 237,894 -
>!tsmica llxb'OWS 87,284 47,006
\1) vmtle fllx ~ iJr ()'M) 106,014 108,014
110 BlxJls flq>elJlle3 9:),006 17.527
"I~ ll!illlllrll9d oo l..8aw 1!11aatlll!l!rll111¥'.1 G"8utt/ 4,057,107 8,065,476
m Ra! and lailas 2.049278 1 687974
l<l ll<llalmn
Laa: Tax aftllct en_,_
~ De1linll """""' COIMilslon
nl 8lil!klllll dadllCUcl!
!1.580
11.:m
24639
116.136
ll Oeffrlld Rehl\llWQI Qirrmlsslon • 2.594 21,417
il D!lflersd flejl'lllJraooe arnniililn rome 3,678,192 3,049,879
t.j Actullal GllMlS$ on Ufll 8,629,097 3,020,339
>! lalrlal GalrVbss on Claim ~ti'o ~Cl! (2.5~4,003) ~4.078.~
\1l Ad!Jrlal GaMoss on Qaltymt i - edla!lllMlt (4,791,763) 191,606
110Pl'oll!loo ¥lltte back as per NFPS 18,834 .
"l~Rllrt adlSIJTe1I (4,235,141) 11,188
b!) l'llMl!Oll Wl1D lmd( (5,859,993) (6,304,256)
>O Gain on sale of assets - -
l1l Dt.tlerll lnoome [1'.158,IHll 1175,2721
~Ulmsaclloll 117 . .
moms Tax f:lq>e1119 80,48S,2SS 75,731,799
Effectiwe Till Riii SO!(, 2K
68
44 Employee Retirement Benellta
..
.....__. ..,..,,.._
•) Po9t En11!oyn*lt S.Mftt • o.flned Conlr11M!on Pllln•

For !he year ended Al!liadh, 2079 the co~ has recognised an amount of NPR. 72,54,398 as an
expenses under the defined conlribution plans in the Statement of Profit or Losa.
b) Pott Empoyment Benefit· Defined Benefit Plana
For Defined Benefit Plans, the cost of providing benefits is detennined using !he Projected Unit Credit
Method, wlth Actuarfel Veluetlons being cerrfed out.
o) Total Elqlwt• 11 Ru Dgn111 d '"the atafllmlnt or Pront or a.-
S1JOS121J7& 32I03.'2Q78
Acl:llmiau~ Aoclrnu~
Plfttllln Grl!IAly IJllbl llY' Ql1ufly UllllIlly
Paid AIM<ll*I ~--'c;N
Expe- Raccgnlzlld h Sl•·Hllt of Praftt (I' bis {Scl'4
amt seMce cos! 1.674.672. 1.()22,592 14.2.41,000 7.276.00D
PU &Me C<Jlll
Net k1llll8St oost 3,144,621 2,048,894 3,176,533 1,475,542
a. ~eqJellSe on de11/lld benell cmllgalbl !DBOJ 3,144,621 2.048.894
b. k1IEreGt (mlnie) 00 fir!~
c. T~ net mirest oost
~ banllllCOlll hl*lllilll In Slate11111ll llf Prullt ar Loa 4,819,S 3,1171,488 17,417,633 8,761,002
a.~ (Qelt¥ kiss dlll! 11> ~ ssrun'l)loo d1erOlS ill DBO (1,365,300) (739,811) 2,302,662 5,281,485
b. AGtJari~ UIUllf lo:ls due to (li(jlellBllCB 00 000 S,256,625 706,710 (15,7117,244) .
c. RNn oo fill ~ (p!IB!ym 1w1 ali\:citU1tra!.S
Tollll actuarfal (ga)l)!IDlll ~In OCI 6,89S.325 (SS,101} (13,4G4,5&2) 5,31,4115
Colt feOOIJ!llled kl S'11.imtllt ol Prol!t «Loss 4,819,293 3,071.486 7,550,492 7,595,736

RlimeQ&nrnsrm Elfeas n!OOQBsed ill oa 6,893,3.25 (33,101)
1blll COlll f'9ClllJ'illlld In CllmJllllllllnlllil hlama 11,712,818 3,038,385
lle1hld ~ o~ ail lt fie begillnhJ at~ '1fl8I 39,307,767 2S,611,172 33,387,73S 19,099,491
&lniceoost 1,674,672 1,022,59.2
~aist 3.144.621 2.048.894
~ 111C011riled ill Sof'l 4,819,293 3,071,400 7,550,492 7,595,736
l?xpEme& ~riled ill 001 6,893,3.25 (33,101) (4,864,053) (6,756,452)
Benett Pll'J'llents mn tD1 ll.'!lll1'l (4,069,423) (4,037,835) (779,358) (3,543,966)
lo(Urlal (Sany LOll3
Defined llan&ftt Oillgllllo nAl /II. '1llllr £n d 46,QS0,9&2 24,511,722 35,294,816 16,994,910
a) Cha. .In Fair Vllu. Of Pim AIMtll
Fahu at llliill asoo4B at !Ill! ol tn>r )'ell1 .2.S.496.607 17,711,746 9,830,290 12,92.8,629
~m~ilg
~llY:Xlme 2.039.005 1.416.940 1,108,140 967,837
~ lVllln on pen asss'i3 450,576
EilllloY81' OOOlll!ifu1& 10,856,914 5,890,698 15,215,384 4,892,578
~~
Bpft !Jj)mt11113 tom fir!~ (4,000,423) (4,0$7,835) (779.358) (970,m)
Tumer ho' lml1lr oil
Acli8l1al (GIU1)I Loss CX1 flan~ (264,988) [228,043) (967,837)
ruva. of PlanAaet u&ld of h v... 34,G71,2f5 20.7$5,506 2.5.82.S.GS2 16,850,eal
~· ~...W.1-....::li~LlD. ~------------------
69
h} Net Defined BMlftt AsNt/l.Lllblllty)
Defined Bene1lt Olfga1lon 12.879.747 3,856,215 35,294,816 18,394,910
P.i\IM of F\Jl~ 34,0n.215 20,755,500 2S,825,1'.W 16,850,981
(6u111Ml}t1letttt Recognlllad h stl1ll ma nt d Rnancilll PoCUon 21,191,468 15,399,291 (9,4&9,784 456,1172
DRllcorldlldon o f . _ . In hdem9flt ot Fl~ PM!tlon

- llllnllftt Plln """ Otller fll'ldDd IJllJI 11u
l'lrUculln CIJ mrrt 'lillr Pmllu'l'lllr QmntYlllr 1'11"1IMlll '11111'
Net~ benellt b>lllty/~ al p!ICJ 'teal end 13,800,959 7,899,426
~ned beri1l!I ooiil nclll!ed n Sllilement Qf Prollt or Loss 2,779,$89 1,$47,488
Tdal rsmea.wl'lllTl6trt'I _,dll!ed _, 001 7,148,313
Acqlill'ii~ ~t
Eml*¥!r oomlllilbns ~0.856,914) (5,890,600)
Netdelhld banal!! llllllHy/(allllalj 12,11711,747 3,858,215
Blnl1lt Plln Alrv Otllar flnlld IJllJI ttv

l'lrUcuilLrl CIJ!llllt 'liar l'llMlllllYllr QmntYllr 1'11"1IMlllYIW
QinllaW& 001 • (lmneli\1JS,\ begimirlg of pm!
T114111 remea.11Jrenieri\'I Miiled _, OCI 7,148,313 192,942
C\inWlfvt 00 ·~me,,._ 7,148,313 1112.942
B 1'3111JM Blnl1lt 1'1111 M'/ 0111 arl'u1dad llalll lly

l'lrUcuilLrl CIJ lllllt 'liar PlwlculYNr QmntYllr 1'11"1IMlllYllr
QirTlllt l..ldty 8,166,651 4,568,374 .
Noo. Qirrsntl.Jamt 38,784,311 20,043,348 . .
Tlllal 48,950,982 24,611,722 . .
ll4n!fit 1'1111 ""'Otllar F\lldld Liahi;,.
l'lrUcuilLrl CIJlllllt "'8r PrlVlaul YNr QmntYllr 1'11"1IMlllYllr
\Win 1 'j9BJ 8,860,617 4,956,686 .
llMlEn 1•2 )l1il'S 6,709,658 3,31i9,137 . .
Beli!MI 2-5 )1Ull 17,064,905 8,796,7()3 .
From6tl10 26,207,323 12,387,375 .
Talal 511,942,511 29,509,901 . .
n} Planaue1a
Blnl1lt Plln ...., Otllar l'llldld IJalll""
PwUcum CIJ mrrt 'liar l'llMlllllYNr QmntVlllr 1'11M111111itar
(!Ian.tad) 0(.hwllad) (9!t hYlllad)
"' IIMlllllld)
. . .
G!Mlnr181tSaalltbl fillWml in!~""""'
~ Balds CID.dill Nillc Seclor lmlsl . . . .
~F\ll!tl . . . .
n.n..11'> . . .
cam and bark balance:I . . . .
Oltien nn be 100% 1~ .
Total 1m 100!(, . .
70
..
.....__. ..,..,,.._
E'm•-BIM111Plan AIN Otlllr Funded 1.1111111111

Plrttuln Qmllt'ta' Prawu• 'ID' OUll'lllt'llllr Pnrnllll 't'llr
Elfect il'l llefil'l9d Beneit Cllllgallon i)i& ID 1'Iii ltll"Ela!I! in llimtlt ~ 44,427,341 23,251,568
El!ect h Oe!hld Benett Cllllgallon 1),9 to 1'X. Dacrea88 h llscouri Rat8 49,757,810 26.135,684
E'lfect kl Oelhld Butt c.i11ga11on Ille lD 1'lli lrmt11S8 In Sltly E'1lcalalbl Rim 49,357,717 25,926,908
Elfect il'l llefil'l9d Beneit Cllllgallon i)i& ID 1'Iii Dea'8al8 ill Saliry l"tt3ali!Jl Ral8 44,7!i0,, 06 23,419,065
'E!fect h Dehld Bene!lt ())'1itGl l))elD 1'X. llY:lllaSe _, Atltllon Ralll' 47,524,175 24.910,605
'E'lfect h Delhld Blriellt OIJlgit\orl ~ti 1'lli llecrllas8 h ~ Rale' 46,319,590 24,279,649
Pa!llcUall BIM111Plan
DISa>!Jlt A*
~Rall! mm at hcreasa h Qi
, __, 8.50'lli
5.00%
- Ollllr l'lnllld l..l*llllt
M11lon Ra!B - T1mMlll 11.IXl'X.

Mo!1al1tv Rais lllnm fm NAL.2009
45 lnaurance Rl•k
Insurance r!Sk lnclud&s the risk of l~rrlng higher clerns OOSI& Ulen expected OW!ng to the 1811dom neture
of claims, frequency and severity and the risk of change in 1he legal or economic conditions of ir.surance
or reinsurance cover. This may r981Jlt in the insurer hEl\/ing either r90$lvad too little premium for the riske
It has agreed to undalwr1te and henoe has not enough func:ls to lnve8l and pay claims, or that claims are
in exoess of thooe expected.
The Company seeks to minimise Insurance risk through a foimallsed relnStJrance arrangement with an
appropriate miic: and spreed of business betweeo cla.&ses of business based on its ovefall strategy. Thi&
ts complemented by observing fcrmallsed risk management policies.
The Company considers insurance risk to be a combination of the following components of risks:
a) Product d9\/Ellapment d) Reinsurance
b) Pricing a) Claims Handling
c) Undel'Wr!Ung f} Reserving
a) Pn:lduot dlualoprnent:
The C-Ompany principally ieeuee the following type& of Non-Ltte insurance contract&:
- Fire I Property - Micro
- Mawr -Aviation
- Marine - Ca!Ue and Crop
- Engineering - Miscellaneou&
The significant rfsl<S arising under the Non-Ufa Insurance portfolio emanates from changes In the climate
leading to nall.lral disastel'8, behavioral trends of people due to changing ltte styfes, the steady escalation
of costs In reapeot of spares In the auto Industry'&.
The ab<7.oe risk QKPOllUre is ITitigated by the diversificmion 8.CfOSS a large portfolio of insurance contract! and
geogaphieal areas. The variability of riSk$ i$ i\1:lrOll8d by careful eelectiotl l¥'ld implernet'Calion d undetwritilg
sba!e\j&s. v.4ich are designed l081l81R that risks ara dM!ralled In tennsdtype of risk aid leYlll dlnsured beneflts.
Furthermore. strict claim review policies to aseeea all new end ongoing claime. regular detailed review
of clalrns handling procedures and frequent lnV88llgatlon of possible fraudulent claims are put In place
to re<1uce the risk expoeure of the~. The Company further enforcea a policy of activdy maneging
and prompUV pursuing claims, In order to reduce Its exposure to unpredlctable full.Ire developmerrfa that
can negatively impact the business.•
"7'1'~~~~flt 71
~I ~--...&.1........a;ttMWrrLTD. - - - - - - - - - - - - - - - - - - - -
b) Pltc:l1'9:
The pricing of an insurance product involves the estimation d claims, operational and financing costs and
the inc<rne ariSing from ill\llllSting the premium received. The prieing p!OOEl8a typieally C«npri&eS collecting
da!a on 1he underlying rlsks to be covered, determining the pricing assumptions and the base ra!e, setting
the final premium rat9. and monitoring the review of the appropriatsneee of pricing.
The Company collec1s adequate data to valldate 1he reasonableness of !he underlying assl.mptlons used
for pricing. The base rate represents the amount required to meet the value of anticipB!ed benefits,
expenses, and margins for risk& and proffl. Da1a primarily relates to the canpany's own hlslDrlcal 6lCp&lfence
and !hat of !he industry where relevant. These may be supplemented by olher internal and external data,
and could Include trends observed In claims costs and expenses.
Pricing is done by modelling all identified risks, using appropriate methodologies depending on the
complexity of the riSl and available dl!lla. Adequate buffers are kept in the premiums ll> cushion against
the risk 1hat ac:11.lal experience may rum out to be WOl'l!91han expected.
c;) Un'*-ltln1:
The Company's underwriting process Is governed by !he by !he lntemal underwrhlng procedures. Some
of the actions undermken to mitigate underwri1ing riek& are detailed below:
I) Investments are made on 1he training and development of und81Wrttlng and clams management staff,
including those attached to the distribution network.
II) Appllcatton at Foor-Eye principle on und81Wrlttng pn:x:8&&.
iii) Pre-underwr~ing inspections are mad& on new business over a predetermined threshold to evaluate
risk prior to acceptance
M Post-underwrhlng reviews are conducted to ensure that set guldellnes have been observed.
v) Adequate reinsurance arrangements are in place and review& are undertaken to ensure the adequacy
of 1hese cove111'
d) IW1MUn111ce
The eon,iany purct s1Ee reinsurance as part of Its risks mll!gat!on programme. Premklm ceded t>tne relnsurers
is in eocordance with the teims of the programmes already ageed based on the risks written by the insl.1'8J1ce
oompanle&. REICOlll!l1e& from relnsi.n!!S on cialms are based on the cession made In respect d each risk and
is estima!ed in a manner consist&nt w'idi 1he oulll1Bnding claims proYisions made for 1he loss. Al1hougl we
rrttlgl!lle our eiq>OSures through pru<lent relrl$lllll'l0El arrafVjments, the obllgatlon to meet clahls emanaung
from pollcy hold131'8rasmwith1he Canpany. Default of relnsurws does not nega!e this obllgatlon and In that
respect tile~ catriee a C<ed~ risk up to the 6l<lent ceded to each reineurer.
•> aalrM lllllldllnf:
Some of the actions undertaken tv m~igB!e claims riek& is detailed below:
I) Claims are assesaed Immediately.
i} Assessmens are cenied QJ by in-house as weU es i d;iJei Iden ass : csn I loss eqUSlllr.! ~throughout.
110 Th& &er\lloe of a quaJ!llad Independent ac11.18/y Is obtained annually to assess the adequacy of reserves
ma.de in relation to Incurred But Not Reported (IBNR) and
Ill) Incurred But Not Enough Reported (IBNER) claims.
v) Post-underwr~ing revi8W11 are conducied to ensure that set guidelines have been observed.
vi) Adequate reinsurance arrangementa are in piece and revi8WS are unoertaken ll> ensure the adequacy
of 1hese cove111'
S..hlvttlee
Th& non-life lnslnll'ICEI clalm llabllltfes are sensltlwl to 1he key assurl"flllons as mentioned In 1he table below.
The following analysis is performed for reasonably possible movements in key assumptions with all olhef
asatJmptlons held constant. anowlng the Impact on gro&& and net llabllltles, profit before tax and profit
after tax. The ccrrelation of BllSUmptions will have a significant effect in determining the ultimate claims
llabllhles. but to demonstrate the Impact due to changes In a&Sl.lllptlon&, 8.$$!Jmpuons he.d to be changed
on an individual basis. '
72
eI"
......... I
illlnllW.,.,... illlnllW.,.,... I
l'lltball IJ9991ft. . . . Clll'lltk
IMlil!llll C»n COii •+• 1a1t

....-~
. . . . LIYllll
._.!Diil->
.. 11t1uun. ............_
_,~
~PKl-i ....-~
-Plllll.Mlr'lllr .... uun.
_,~
. . .. . . - .,..,......,. ·""111....... s
llierJJll ltnMdam. '+' 11Jl
A'lelqe C»n COii ' ·
1
105
llierJJll~daam. •.• 1()1i
Clllm ...,.pment table

The fdlOYltng tabl• show the aatrmatee of cumulative Incurred dalms, Including both claims notlfted and IBNR for each aucceselva accident
year at each reporting d818, togothor with cumulative p~ente to date.
'llllrd-
I: nl d lOlirl )81'
- -
>PU
""' "' l'\12 PY1 Clmnt'llllr 11111
<mierllll' - 121All8.070
519,870,3Q1 519,870,381
121Aa&.010
TllO)lll"~ 9,949,356 9.9'1e.356
Tine )W llllr 1~7!18,740 1!5,7!18,7-40
far)'JllllB' .
Iba lhnFar)llSI .
Omrt81t!*damlllta dalll . . 1~7!18,740 9,1149,358 121,488,07ll 519,87!1,3111 751,IYIZ,U.T
'llllrdh:ldl!I >1''4 PY4 PU Pl'2 PY1 Clmnt'llllr 11111

litnltt tddlt )II' 1311,670,13.1 1311,670,13.1
QJi )Ill' llltr 63&,179,995 638.179.~
TllO!VllW 2"11,183,282 299,18.\282
Tine )W ll!ir 113,597.551 63.597.551
.
FariwlB
.._ ..........,,.....
r.m 1tlnFarien
Omldle Pl)llD 1D CID .
.
18,212,054
1&212.05421
nu12,054.211
ll3,!iil.551 2119,, 83,282
.
....
18,21ZQ&4
835.179.995 130,67tl,13'3 1,147.M3.003

O,Ut,171 (288,233,1118) (514. . . peG,™'-41»
i:l
I
Nit lnlM'll,_ contnct ou11tandln1 ctalrn provllllll'I
...al h:lilllt >1't'4 Pl'4 Pl'3 P'U l't' 1 Ql!Wtlllll Tlill

Aini dh$1!1!111' 111,481,ooa 111,481,ooa
Q-B)'S61'1a\lr 28,051,41KJ 26,051,480
Mo )'Ill' 118' 2,1~ 2,133,540
llri&)'Bll' Im 22,1!84,915 22,1!84,915
11u)llll'lill
Lb'& flln Ru )!!all -
O.lnltesllmill o!amLNclltn! - - W84.915 2.133.540 26,00l,4ro 111,481.(138 162,3[(),974
Atn cthtblt)'Bll' 00,100,138 00,100,138
Dl& )4lal !ala' 292,895,385 2112,895~
Mo~l*f 137,743.067 137,743,00'
llri&)lllJiDI' 2!),280,130 2!),23),130
f;u )Qt' lira' 8,S84,Tl5 8,384,775
ll«efmfw)'l&'I
Cllnildit """"'* to We
llllthllnraClll'llKIMllllrdJJ damn 11111
-
-
9.$$4,71$
is.-:m1
2$,280,1)) 1S7,74S.081 2112$$$$
(1,5115,215} (155,0.54'/l ~
$),1$),1S$
51,!'.!0.9CO
m.-.•-
(!81,11Zi!I)
l)R1urwtnig
Insurance Contract Liabilities are created to cover this risk based on 1he ac11Jarial valuation
report.
The table below sets out 1he concentraUon of rlsk a880Clated with above mentioned products.
Risk as at year end has been measured ae insuranoe contract liabilitiee and discloeed as
below:
-- --
CUnart 'l'lllr l'rlMliJI 'tM'
1'111a:Uln ~Nn!D Rltluwa llltUlbllllll 6roDll'IUrn:8 Alltlllrn:e liltl.Ji.jlllll
IJatjll:fll l.Ji.jlllll
Rrs I l'rl>pert,o 3$5,545,931 306,8$1,717 7$,714,214 220,375,231 14$,43$,900 73,93$,251
Mm& 38,?20,405 27,040,441 11,179,964 24,617,110 18,659,844 5,957,266
lll.Ulor1 38,641,200 38,604,788 136,414 67,832 67,832
M)tor 5$4,825,476 236,7$1,355 348,004,124 591,328,57$ 200,491).~ 390,632,273
Bl!lneeri!ll 324,064,8119 313,878,179 10,186,720 404,587,199 392,669,186 11,916,013
Ode 8lll CrtlP 64,353,344 51,002.925 13,260,418 58,287,635 48,138,498 12.151,138
Mmi 525,236 0 525,235 185,Q55,397 182.024,1Q5 3,931,202
Msoella!lilcx£ 151,301,Gl'S 120,095,189 31,205,886 118,766,271 79,506,639 39,259,632
1btll 1,58:;.477,588 .OW.174,592 493.302.976 1.803.975.251 1,005,i29,644 533.G4S.ea7
74
48 Fair Value Me•urementa
..
.....__. ..,..,,.._
(I) Flnp~ I~ by ca.gory 6 Hl-rdly

This section explalns lhe judgements and asUmatas made In determlnlf'(l lhe Fair Values of !he Ananclal
rnstrumentll lhat are (a) r8<Xlgnieed and measured at fair value and (b) mee.eured at Amortised Coat and
for which Fair Values are disclosed In the Flnanclal Statements.
To provide an indication ab<Jut the reliability of the inputs used in determining Fair Value. the Company
has classlfted Hs financier Instruments Into Three Levels presc~bed as per appllcable NFRS.
Pa!11a.fl!S
l.tfll9I
f¥llt
~Yw
AUi ,...Cl.i F¥ll\
PrllWIM
IWa "°"'
fftttllll Cllll
~
QllMlSlmenl h ~~ nitnmeml 1 300,936,265 45,888,216
I~ lrwestment In M~ Fl/Ids
i) r--.in ~&ml clBirlkall lirGrria ham
I';) mestment In Debeltm
>)~ lnllords (Ner:d~tfl!V
QlllDed ll'J Nepal QMlim\~
"'Rlclid· -
\fl Oltm {lo be
Laans
OttJer Rmclal Amis
Cash Md Oa!l1 En""8n
TEI ltlanda!Aaall . - B,938,2e5 . . 45,881,218 .
Otha< Fhllclal l.Wlltea
TEI ltlandal Llallll!las . - - . - . .
Level 1: Lever 1 Hierarchy Includes Financial Instruments measured using Quoted Prices.
Level 2: Fair Value of Financial Instruments that are not trac:led in an aclive market is dete11T1ined using
varua.11on technlqu&1> which mexlml6e$ the U$$ of ob6ervabk:l market date and rely as llttle as
possible on enUly-4ipeclftc estimates. If all significant Inputs required to dete11T1lne Fair Value of
an instrument are observable, the inwument is included in Level 2.
Level 3: If one or more of the slgnlflcant Inputs Is not based on observable market data, the Instrument
is incluc:led in Lsvel 3.
There Is no transfer of Financial lnsttuments between different 18\!els as menuoned at>ove during 1he year.
(I) Yllllll.tlon Tecflnlqu• UMd to D«emllne Fair Vllu.
a) U&e of qu018d market price& or deraler quotes for slmllar Instruments
b) Fair Value of remaining financial instruments is dete11T1ined using discounted cash flow analysis
(II) V.lulltlon P -
The finance and accounts department of the Company performs !he 1181uatlon of flnanclal assets and
liabilhiee required for financial reporting PllPOS6tl. Diecossion on valuation processes and reeulte are held
at least once In a year.
The main level 3 inpum are derived and 61181ueled au follows:
a) Discount ram Is arrrvect at ccnsldertng 1he Internal and 6)(!emaJ factors.
b) Discounting has been applied where assets and liabilities ere non-current, and !he impact of the
dlsoountlng ra matertal
"7'1'~~~~flt 75
~I ~--...&.1........a;ttMWrrLTD. - - - - - - - - - - - - - - - - - - - - -
(Iv) Fair Yal.,. or RMl'ldlll A...u a'ld Ualllllllll Meuured • AmortlMcl Colt
CUl!lllt 'liar Prft1oul 'liar
PlrtlclAln ClrrVtlgAmount F.UVllut C811)1ng AmCllt Rir\111111
mestnents
~ k11'811bnent .. P1sfeie<a1 S!riJlJs of en~ Rf8'(lal I~
i) ~ ll &1'*111\SirumSOIS 197,768,512 300,936,265 24,667,142 45,888,216
ll mestnent., BoOOs ~epal Gowin~ Nflll
~by~QMm~
"' Flill<l lleposl
.., Ollera !'> be SpedledJ
Loons
0l.Jllrl t> Am:la!e8
ll l.Dirl fl) Em~
t.jloon1D~
.,, c~urs !'>be~
OlherRl'lilldlll~
Tallll RnlJICi Ill Ullbltiel; 81 Amo rtilled Colt 197,168.S12 300,936.2&> 24,667,142 ....,,..,_,
4~All216
lkrrl!M/llS
OB<nl
il DlillEtlllre
ll Tenn Loil1 • Bmk and Fhillclal halllllllon
t.jBlllk~
'I) Olllrs ~ be Sj)e!:fied)
Oll'a Rl'lilldlll Udlles
Total RlllJldlll Ullbfitls lt Amortlted Colt . . . .
The fair 1181ues of the above financial Instruments measured at amortised cost are calcula.tad based on
cash flcme diecoun1eo ueing wrrent diecount ra1e.
The carrying amounts of cash and cash equivalents are ccnsldered to be the same as their fair values,
due to their ehort-term nature.
47 Financial Risk Management

The C<lmpany's aC11111tles BXP<l6$ It to Credit Risk, Uquldlty Risk & Merl<et Risk.
I} Credit Rllk
oed~ riek is the riek of financial loo& es a resylt of the default or failure of third partietl to meet ttieir payment
obllga.Uons to the Company. Thus, for an Insurance contract, credit risk Includes the risk that an Insurer
i~re e. line.nciel looe because e reineurer defeulte on illl obligations under Iha reinsurance contract.
The follOW!ng poHcles and procedures are In place to mitigate the Company's exposure to credit risk:
a) Company hes cred~ risk policy which sets out the assessment and de1efmina1ion of whet constiMes
credit risk for the Company. Compliance with the pollcy I& monl!Dred and exposures and breaches
are reported to the Company's risk committee. The policy is regularly re\liewed for pertinence and for
cllenges In the risk enlllronment.
b) Reinsurance is placed w~h counterparties that have a good credit rating and ccncentra!ion of risk is
avoided by eniering intX> agreement wi111 more than one party. At each reporting date. management
performs an assessment of credltworthln888 of relnsurers and upda!BB the reinsurance purchase
etrategy, ascertaining suitable allowance for impairment.
c) The company deals Vlltll only creditworthy counterparttes and obtains sufficient collateral where
appropriate, as a means of mitigatirg the risk of finanoial loss from defaults.
76
~·liMllS-IOM
f"f*tld Credit LDHll tor RMllallll AuMs atAlnortllled ColtlluatAMldh 31, 2f1T1
PlrtttJln Allllt 6111141 ~Clr!vt\l

Mo.rt p=::iof Ellpaclad Cl1dt
"- Amo~r
Dll!lult PllMlm
LDssal~
0'001! Risi< rm notSU!blt/ lnaeased mea!llJlld at 12
:slllll ln'W~Cll nmti:l~
aedt~
Loss ailallrim)
Ollllt Rllik has s/lJlllbrllly ~ lfld ITl!ll!U1!d 81 If&-
not ad l~rsd tne~
alltttblselS
Clallt Rllik has s!lJlllbrllly ~ !fld
aedt hlial'ed
Expected Credit LDHll for RMllallll AuMs atAlnortllled ColtlluatAMldh 31, 2078
&'Ola~
=~of Amo~r
Ellpaclad Q'dt
l'ri:\lln A9et61"C141 Amollt p DllfaJJ "- PtcMllm
Loss ailallrim)
O'l!d~ Ri.l!t has not!Olbtt iim2$Eld m8a!ll1!d at 12
Since lll'lal ~Cll IOO!h~
old! blss:l
LDss aJIOltanc&
0'001! Rilk Im Sl1J1111::al11y taea!ed md meallUOO 81 If&-
not aid l..,airsd too~
allCltmas
O'OOl!Rilktm Sl1J1111::al11y ticre'.lied md
old! i'rpetlld
........SllllMlnt8qlldldadba
Pattidlts ,.._.,lllhwta
llllldldatiltba OWl!lllltlmtlllitlll:ldJ OWl!llllthw~l'llD!tf
--nlllllad. . . . m.-11'111 .....
l.ols Ailwance <rl "811 adh ... 2llX1
~hk)E8~
WrilB-Ofl&
RsaM!!1as
l.°'8Mlwln:e <r!Alllldh ••• 20X2 . . .
II) Llquldl!J Rllk
Liquidity risk ie the riek that an entity v.ill encounter difficulty in meeting obligations aeeociated wi1h financial
llabllltles that are settled by delrverlng cash or another flnanclal asset. In respect of caiastrophlc events
there ie also a liquidity risk associated with the timing differences between gr068 cash out-II~ and
expected reinsurance rec:overfes.
llaturtty ot Flnanctal Llalllltllll:
The table below summarises ttl8 Company's Ananclal Llabllltles Into Aele\lant MattJrtty Groupings based
on their Contractual Maturtties for all Financial Liabilities.
0111rart 't'llr Pmtoul '1'llr
PartlcYln ~11W 11Wfl>SlW lln11111SIW lf!Dlllllr 1 lW fl> 5.,,., lln11111SlW
Olher Alandal Llalilllles

Tb1ll Rm:ll1I Ll111lilllllll . . . . . .
~flt n
~I ~--...&.1........a;ttMWrrLTD. - - - - - - - - - - - - - - - - - - - -
11) lllllrbt lllllk
81) f'oNlgrl CUrreney Rllk f'IJM"Ul'9
Foreign exchange risk is the l)Ot9ntial for the Company to experience volatility in the value of itll a.ssetll,
llab11n1El$ and OOl\lency end to 6Uffer act1Jal financial IO&Ses as a result ot changes In va!U& between the
currencle& cJ ns a&aet& and llabllltles and Its reporting currency. The Company Cloe& not maintain foreign
currency Clencrnlnatact assets In ns Investment por1follos and as such Is not exposed to foreign exc:l'lange
risk relatad to Investments.
The Company has no significant ccncen1J'ation of currency risk. The amount with reinsurer is settled in
Nepali Rupee.
b1) lm.n.t .... Miii
Interest rate risk i6 th& risk that th& lair value or Mure cash flows of a financial instnJment will fluctuate
because of Changes In marl<et Interest rates.
The major Interest rate risk that the Company I& expo&Eld to Is tne discount rat& for determining lnstJrance
liabilitias.
bl) Im.wt~ s.n.ittvlty
Proflt or Loss Is senshfv& to changes In Interest Rate for Borrcw!ngs. A change In Market Interest Level
by 1% which ie reaeonably poeeible batled on Management'e Asseesment would have th& following effect
on the Profit After Tax.
I Plrticuflrl Qmnt...
• ttikh;J al alhel'Vfr'mle Oonstart
c1) Equity Prtc. Hiik

Equity price risk I& th& risk that th& fair value or future ca.sh flows of a financial Instrument w111 fluctuate
because of changes in equity prices (other than those arising from interest rate risk or currency risk),
whether those change$ are cau6ed by factors specHlo to the lndMdual financial ln6trument or ns 166Uer,
or by factors affecting all slmllar flnanclal Instruments traded In the market.
The COYipany tiae illlleSled in e<JJity &eclJritiee and ttie Ellq)OSU'e is equity securitiee prie& riek from in11991me1 •Ill
held by th& Company and classlfled In th& sta!ement d flnanclal poshfon as fair Vlllu& through OCI.
c2) Serwhlvlty
The tabl& below summarises the Impact of Increase/decrease of th& lnCl8l< In the Company'& equity and
impact on OCI for the period. The lllllllysis is based on !tie assumption lha1 !tie equity index had increased/
d&ereaseCI by 1% with all other varlabl&s held constant, and that all the Company'& equny Instruments
moved in line with the index.
I ==-hreim!ly1%' Clmnt... I l'rlMIMll'lalr I

~ RE-Deaaase BY 1%•
48 Operation Rl•k
Operational Risk is the risk of direct or indrect Ices, or damaged repu1Blion resulting Iran inadequale or failed
lntemal proca sse s, peq:ile and systems or extamaJ £Mints. When oonlrols fall to perfcnn, opera!loual rfak& can
cause damage to reputation, have legal or regula!ory implications or can lead to financial loss. The Colrpiny
cennot expec:t to etmlnete all opellltlonal risks, bUt by lnltle!lng e rigorous control frllmElwoll< end by montromg
and raspondhg to pcm Ilia! risks, !he CaTpiny is able to manage th& risks. Controls incllde effecWe BElglegalix I
of dutiee. a0<:$&S controls. auttio<ieation and reconciliation pro0$0uree, staff education and asseesment
proce eees, lncludng the used lntemal 811dlt. Business risks such a!I changes In environment, 1BCl'nology and
78
the industry er& moni1Xlred IMlultl the COiroany's strategic planning and budgeting prooees.
__..,,.,
••
49 Capltal Manegement
..
.....__. ..,..,,.._
The Co~s ob}ecWes when managing Capital are to:

a) Safeguard their ability to continue as a going <X>llCElrn so 1hat they can continue to provide returns for
Shareholders end benefit& for other stakeholders, and
b) Maintain an optimal capital structure to reduce the cost of capital.
In order to maintein or adjust the cepitel structure, the company may adjust the amount of dividends paid
to shareholders, re!IJm capltal to shareholders or Issue new shares.
Regulnlry minimum Plld up c.ptt.I
Non-Life lnsinnce companies WBlll required by the Directive Issued by Beema Samu to attain a stlpulatac:I
ninimum paid up capitol of NPR 1 billion by mid-July 2019. A:s on the reporting date, the oompariy's paid
up capital Is NPA 1, 19, 18,00,000.00
Pri:llln ~Ylllr P"'1bil Ylllr
(I lllldei'lle qllilell
Anal dM:lend iJr 1he )'831' ended Alha!t\ 31, 2078, ol NPR 113,89,550/·
VdRt131, "1JTl - NPR 114,180,00<V-) PB' lllti paid 3IRe 113,894,550 114.180,000
113,894,550 114,1lli0,000
111 ll'ridllldl ld,_l.slltlltendfltllt-plbl
axm dlldel'd!i. 3'iee1t1e Yell ended 1lle lloanl 01 Drecto111 haw reamneooeo tie pa)lnent 1
_, adill<l1 tn 1t1e
a rdd~!DJ 6.~ CJ! P*t~eqijylhrl)(Nl'R91,764..450f·). lli3~ ttA\t~ i!ISIAJ)ettl!>
111& ~or Willhollleis ill tis 9'1!1/ilg anil131 glrl&'3f meeli!ll 91,764,450 114,100,000
91,784.460 114,llliO,OOO
50 Earnlnga Par Share

PllttcuilLrl QmntYllr l'llMDlll v...
Pnilt for 1l1e Yell 131,262,388 180,760.322
Id!: ~llSh!iM"' <JI Co~'*' Bl:ritb . .
Pniltfllr 1he Ys31' used for Qilj_.,. [)lutsd EJITIM ""'Share 131262 388 100 760 "77
wmrmi -..e tunbel 01 fmillll Shills Ol.tllallllm l)inno 1lleYear for Biiii:: fmm...,. Slue . .
.. h ail!lafm of l:aJIBI - !Jwll: . .
~ DliiNe S1lll1ls . .
II~ . .
II C!ms1t!le Bam . .
,,_,tmd - a tunber al•'"'"" Shires Ol.tilandl"" illn"" t11e 'Illar tor l:alled ......., PerSlm . .
t«lll'llR VtU o1 fmlllll Sl1alll8 13,127,646 11,968,900
Ba.!ic Eanii'QS l'llrStm 10.00 15.00
Restated BliTQS Plir 5hll8 13.77
llll.Clld Eirrlrvs Pll $11111)
51 Segmental Information
Segment information is presented in respect of the Company's busine$5 segments. Management of the
Colrpany has lelentlfted portfollo a& buslneas aagnent anct tile Colrpany's ritemal reporting strucll.r& rs also
based on portfofio. F'Grfonnance is measured based on segment profit as management beli&ws that it is mmt
relavent In walue!lng the resUts of segnent r~ to other entitles thet operete within these tidustr1BB.
Segment asset is disclosed below based on total of all asset for eacll business segment.
The C-Ompany operaiei& predominandy in Nepal and accordingly, the Management of the Company ie of
the view that th& financial Information by geographical segments of the Company's operatlon Is not
neceooruy ro be presented.
Buslnass Segments of the Company's ar&:
i} Fire/Property
II) Motor
( 79
iii) Marine
I
! Iv} Eng lneartng
v) Micro
vi) Aviation
vii) Cattle and Crop
.. ·=-·
viii) Mlacallanaous
,.,..,.
81arw11 RMD181111:1 lot FY 2D7a.71
~ .... ......... " Pldln '

~·
!In Tlilll
Gui fnd l'lnlrl
.240,BJ!ll l&VS,m
""""
WUll 1lll1.ill.42S
ninra
~) SU42.!li!I
Clllle lllCI
Qap
125JJl4.3117
,
11U811.548 1.428.748.931
i..
Tlilll
1.Gl!J48.837
llriQc.111 ~·1~ ~ (5t111.m) ~
~-.
Ml911l2!111 4111,642 fi2,Zl1,IRI
I& lieJllll1IPMM . . . . . . . .
--
NII lillm l'i'dm lmJX!3.115 37UlD,llS 7.225.B 21,1117,181 p~ 1.tiJ1115 41.3112.574 ~ 11111.mM 11111.17&.4!i4
34,9Q9,2C2 157,lll!.31( 12,~ 3Z*l1!1'1 411.BM 1i,IDl,:D5 2'2.Gft!D l'l!,Q'74,C 1'/5$74,41!7
CDn!lml - 44,124.51111 llll.lll3.JT5 7,3l!!.91S 12.G,1115 l!,lllll,ES 1111.577 4.745.lllO 17.354.125 1111!,2112.!25 llll!Jll2.llZ
NII GD' G..G1114111
FU\IU Cllr9ll . . . . . . . . -.
NII lllllBIGnl. . .
<lrrlmnl . ll,Sl1,06' . - . - Q,!11,t64 19,N7,a12 !!,1118,111!&
111111 ...... 1»,le,174 144,257. . 21,lll,115 11,lll,lm 4,515,214 ~1· 11,111,MJ a,m.212 - '11,754,111 11,117,112 19,AU,JIZ
bpErll8C . .
a..mr.1'111 lll\M5,755 541,fi00,115& 12,~!123 246,111!11,3111 117,48:!,184 &1,039,400 1,147,843,033 1,147,843,03.1
QmQD!j 018.511!.11-lj (124,n1,0llt POA!i.S271 ~.!!ii) \93,9?0.541) ~.1111./U:I ~ll.fli.537) 181~3111.537)
hl()qe hlllnmlllll!ll 143,11),Q!8 (1~&1>,874! O,Ma, 110 p~ (1~ . (11Jllo,31'lj 'll/N).4Q (13D,261,1131! (1!),2$1~
Oll'Q9 ham:t~
Clmltlllnm p411,119,l l'lll iv.~.- PDK72!i 111131~ 1~ . 1,700,417 ~,-03,Ulll) 90.217,IW W,211,167
lolll Ollll11 fljj . -
ll'lrrltml li1pll8 4,lJ03,181 5.7'41i.BIS 1,IJOll.21l8 4.111U1 . 11.1154.8112 2,$11~ 211,643,821 Z1.114U21
sm.r...
-
~ 4,11111,1187 72,440 17,319 ti,2ri1 1,IITT ~ -486.a &,0,1:11 &,d.131
~Bnl1sflllra ~ ll,1.88,Bllll 5,127,'12! llUES.'IBll 113.81.5 5.2117.954 11.5'12.385 15225.202 17!,9S2,111 . 17&.llSZ.181
~DI-~ . . . . . . . . .
. . . . . . .
~i.-
111rr.;..s
b'ce!))ll
111111-.........
1UB3.502
11,1111.111
.
34,1157,157
m.m,1u
.
Ulla.21111
t,417,0.
.
11.312.Sll3
45,514,111
.
~
'[}If/I, 2,!Kl,194
7...725
.
4.llllU!4
ll/lil,117
SJ!ID.274
.
iil,711,ll'I
78.11118.474
m,111,111
.
3,495,00!I
......
.
.
3,&,9!19
78,1111.414
m.m,m
. e1·
Tllll "81111111 •111 "'221.111 Zl,llD,G! 17.AUll ll.1Ul' 1.111.- ~ 11.no.m 11,111,411 2111.m.411 D.111.111 m.a.l14
SlpNltllml
8-lllllllllftl
1,711.7'1. .
1.721,01 t4ZI I
I.
jjO i
Q
~ I"
11 Segment Reponln9 for FY 2077-78
....... I
,_ Pnittn
;
$A1
Rraf'l~b' 11111,. £na•mg
~-
Plltb.lln lbl' Mb'o M\llloft rs n
i:ICrJ 1*I
~ llrtdrl I.mt
&1:1: Bmlll l'llritM l>IT.10,tll! 744.!1111.381! 34,04UT1 1:s:t.M5ll9 51.$3.812 178.114 1119.T.!1.814 I OltOOU!T 1.42l319.882 1.429,:11 B.8112
ilallmJ(ll)jj Ol!ZllJJ'~ (!0,00!,044) (17.~367) {12M~ l\IO~ . ~ flll,a!U,112J!1 1'47,334,flll!I (1147,~~
~Aesvl
!tit fS!lld Aa!tn 64.~.11:17 415.IUJ.342 &.252.003 7.594.9119 20.7!l5.Sl3 111!.114 24.~ 41.316.400 580,115,1114 580.lllli.11!4
O:lnll'lllltl1hxln& 41\M!,241l lill,11113,!ll 9,m,847 2:l,7li1 .M8 6,484 1~ 111,tltil,116 1~712 1118,465,712
-n:are 29,1113,143 97,854,31! 4,41~112:1 s.w:l,13$ ~0.21131 2!JJ114 2.1114.ro'> 10,1Z7,100 148,27S,67S 1119.172.:148 2511,4411,!122
lt!tQh/ OJ,aell QI
FSIM.eQqls . . . . l1llB'I WR
lt!tl!elllldGnl. .
Oherl'COl'O . . . . . . . 21.1)1~1~ 21,014,1!1;
Tdlllmnll 134.120.1121 573.4311.380 20,441,473 'IT~JflO 20.7m.574 11l6,248 W!TT.400 '12,102.746 !'le.716.5111 l1ff!l llU!l
fllnlll: .
61\w lllh'4 Prij 145,401,l'!IT 349,!llll,7S6 l\3S1,l'l4 11!,m,MT 215,824.1152 Ill~ 11,143,312 'S)2fJ!1fl 9511,320,t'llT
Qtrl!Csllrl 018.4311.5114 ~15.57:1.331) f>,002.m) \!IQ,277.llfq OS6.2Ull (411.ICl.911) (:l1.151l,7631 (S54.1171l.91J8l (554.lll0.11111!)
&111 llw"ol hC!lltid liblill (~ {42.1:,0,1l!)) ~~) 170/lllJIH> 1~,21lt . 3,616,434 (3,723,311) '1i1lfi!J/ltf; 167,aig.n
IJar'Gl~~Llll:ib
~~Rnm 42.lllll,!l:io {12.297.117) ~.w;i {16QllJ7,5Zl) {161~ . !1~ c;m~ (317,11611.54111 (Sl7,116l!,~
l«MNFltl
llln!!'l.utrl. . . 5,41&,llli 7,11US7 164,«17 5,171,BSZ 21.1117 23.008 1~ 2.m.405 3U1a,706 34,7111,"M
&n4iel'ee$ $29,4$ MHl.fl!l 74,111 ~ w~ 4,7$4 2ti6.24& 416,700 7,sll,123 7,~.123
~Bmtflpra :11.1192.881 84,764,404 5.429,8116 18.&11.329 1.w.ror 18.914.~ 14.'laa&49 114,252.515 174,252,515
Lll;ndlkll 1111""*"'1. . . . . . . . . . . .
~i.- 19,471\li29 1~,'7D,629
Ollr!;pr8 1a441.ll5ll 33.815.302 2.152.1114 ~ 732.414 6.719.724 Sw.912 68,103.001 e&,1(1'1,001
flwce('ll!I . . . . . . . . .
Tdll SiliJm!ld il!nll !\315.1111 310.«l!.<Xl2 1\4112.211 38.529.1118 116.458.141 2l!,4Q2 5o;nsm 54~.4!! ll27.(!jl!,713 lll.410.529 843.527.2-W
Tdll9qr8lllj Rem 53.ll04.1122 2e3.ll3S.3ZS 11.1148.162 51().004 ~.~~ llll.841l ~ll.Qlll.1 :It lMl.!.310 271,f!ij,115 E tAlll
Stvrat*- 1,717,1112,64.!
&vmlmlle 1.1l116,211!1.24S
'
~
52 Related Party Dleclosure
(•)Identify Relll!led PwllM

Holding Company: NA
Subsidiaries: NA
Associates: NA
Rlllow Subeidiariee: NA
Key Management Pel'l!Ollnel:
(II) Key Mln111111M11t Pel'MllMI Compa-.tlan:
Pld:uln Qmnt 'l'lllr l'nMIMll\'W

Shat-1!11111!111~ ~
Post·em'*"'"flll li!nlil'I
Ohlr l,..,..1lilm boosllls
T111min:ful taislils
Tl*I . .
hyment to Ctllel ~ Ofllcer (CEO)
Pa11~ <mertYear Pr5'<iws~
Anrwl _ , 3lld 3blaJa& 4555000 4365
l'!lfomlmce bilsed llllwances
DE'm'*'-~ 1,148,004 1,:;48,758
m~as- rooJ.slons
II~ lri::ernh'es
llWlml rBa!ed bln!1's
~ LIB l'lslr.!Ia
ID la:llllint hllillllEll 4,650 4,650
II~ Health llW!Dl9 flrdldlm &nit. memt.nl S,250 6,250
Tl*I !i.71Sll94 592549'l
82
(c) R ' ted Party Tranuctlclnl:
..
.....__. ..,..,,.._
Pllttllln llollre
~
"*" ~
6ib*llJ1lll Me+!•• SUllld 111111
Pnmll
Ta1111
Pre ml um £am lld

far lhe Yea' Erided Alt1alt132, 2079
For llle Vu Erded Adlatt131, 2078
Cllmmlllllon Income
for lhe Yea' Erided Altm132, :i!ll79
For llle 'llB' Erded Miatt131, 2078
1111n111 lncane
for lhe Yea' Erided A!mtt132, :i!ll79
Fallle VelJ E'nbl AIN!ll31, 2078
~'- for lhe Ym Erided A!mtt132, 2079
Fa"ll11 YB &ml Ahlll31, 2078
Sale of ProiM1r1r. Pl ant & &iupne nt
for llle YB Erm! Mlatt132, 2079
Fa 1111 YB &ml Ahlll31, 2078
Plnlla d l'lq)q, Plant & Equpnent
for llle YB Erm! MlaLt132, 2079
Fallll Yu &ml Mlalti31, 2078
Plllmlum Paid
For llle Vu Erded Mlatt132, 2079
Fallll Yu &ml Mlalti31, 2078
Cllmmlalon - -
fQr llle ltllJ Erded Miatf132, 2079
farllll YIW E'fml Alt1alt131, 2078
Dtwlllinl
l'l:lr llle 'llB' Erded Miatt132, 2079
FallleYBEl11sd M!adl31, 21178
M8111qfea
l1:Jr llle Veer E'rd3d Alhldi32, 2079 3,026,411 3,026,411
for 1111 Year Erded All1atl131, 2078 693,462 693,462
/lb(lm'f!S to lb:m
l'llr 1111 'llB" Erded Miam32, 2079 415,000.00 415,000.00
far 1111 Year Erded All1atl131, 2078 46,116.00 46,116.00
IMla1I (ID be ll*fftl!d}
l'lirllll 'llB" Erded Asi18rji32, 2079
far 1111 Year Erded Alt1alt131, 2078
"7'/'~~~~flt 83
~I ~Gmllll.1........a;ttMWrrLTD. - - - - - - - - - - - - - - - - - - - -
Parttculn lialll'G
l)on~
lilm*lilllll ........ Mlw
~ ~
Ptmu'll
Ta1i
~•lndlldmflel~~
h!al Alt13lti 32, 2079
A<I al Alit1llll1 31, 2078
Other ReceMlblel !ID be SpeclTWll
h!al Alt13lti 32, 2079
A<I al Alit1llll1 31, 2078
P.ayalllel h:ldna Renune l'.rjalllel
h!al Altlall132, 2079
kal Mwll 31, 2078
Other Payalllel !ID be 6pecltled)
A<I al Altlall132, 2079
kl al AdlaLll 31, 2078
53
..
.....__. ..,..,,.._
(e)l
02
llU~
(I) OsMl'dPl!SI I 11111:

Dl&closure In respect of Non-<:ancellable lease Is as given below
I......_._ ......
(I) Flrwncie Leue:

The Company holds assets under finance leases. Future minimum lease payments and lease liability at
the end of the yeQt is given below:
filtu111 MMllUll r.- -.,anti Q111111t 'iill' Pmbll't'Nr
DM1t Llter hll 1 """'
i) l...ailr t!D'l 1 ...,, a'd rot~ thall 5 ""'"
II\ r.mttm 5 ""'"'
TO'id f!A119 MlrllTllm r.- !'lllmn a
Lsss: Ellect o1 ~rttla

Rmn:elemellld a a
(b}LMaaaeLellllor
(I) Operd119 ......:
The Company has leased out oertaln office spaces that are renewable on a periodic basis. Ren!al Income
received during the year in respect of operating lease ie NPR ................ (Ashadh ... 20X1/ July ..., 20X1:
NPR ...........................). Details of assets given on operating lease as m year end are 88 below.
Disclosure in reepect of Nort-<:ancellable lease is ae given below
(I) Fhlncie I.MM:

The Company has given assets under finance leases. At the year end receivables unc:lef' finance lease
agreements fall due a& follows:
The Company has various operating leases ranging from 2 year.i to 6 years. The leases are reoowable
by mut11a1 oonsent and oonteln ~etlon clause. Rental expenses for operating leases recognised In
the Statement of Profit and Loss for the year Is NPR 0. (Ashadh 2078: 12,644,606 NPR ). As per NFRS
16 Leasee. th& rent expenses has been discloeed in th& form of Depreciation and lntereet. The present
value of lease llablllty has been shown 88 88llet • Roght of Use' under Property, Plant and Equipment The
present value of lease rentals have been di scented at the re1e of 10% per annum. Right of use has been
depreciated tor the current year by NPA 11,500,254 and lnerest cost thereon for current year NPA
4,796,906has been shown under finance cost
Pllttllln
Clmnt• ~O\le-
Qme~n
INlmad N1ta1Mlbu1tt en. '1illll11•1t INnld lilltlr-'111.-it
AlllD~• R-lncana
DNot LB hll 1 _. 14 362.252.36 . 14.362.252.36
I) L*r hll 1 )1ll3I' Wiil
nol la!W tlaJl 5 )'Im 40,253,169.52 7,2Tl,'l:l2.66 32,975,936.87
IIl..m ll1an 5.,..,,._ 4006237.33 4375364.30 430.873.03
Tb1ll a 421.1169.21 1U62&S6.96 47 a a a
"' n •I
-..C:
• :;:ti ~ ffll
~~I 85
54 capltal Commllmenta
E&timat&d amount of controo!ll remaining to be executed and not provided for
PlrtbMn Cllmntlillr l'nMlllll lillr
lt*mlli!AD!t!
.........., f'lllltand ...,11,..,,snt
lllY9iillJ!ient l'IMArles
Total - .
SS Contingent Llabllllle8
PlrtbMn Cllmntlillr PnMu 'l'elJ'
aam-11Stco~ t¥Jt sgdllll'I;
al Income Tax
blhhctTaices
aoti«nnbe
1IJtal - .
5' Event& occurfng after Balance Sheet
57 A888ts Pledged as Security (only if pledged)

The car~ng amount of asss1B pledged as security are:
Pw11~uln ~v.- l'TtMOlll'ftllt'

Rsi&r.rlal~
meslmeitl., ....11v
F\a;l(I~
Rnrmll Dlalltard MJlllMll
Olhe!S Jin be -
TOii . .
58 Ml1cellaneou1
(i) All amounts are in Nepalese Rupees unless 01herwise stat8d.
(11) All figures ere In the Nearest Rupee & Rouneled oft.
69 Others (to be Speclfted)
86
G*---'o..
..
.....__. ..,..,,.._
Annuurell
Minimum Dl1c1oaure In Management Repolt
(Year Ended UptO Aaha.dh 32, 2079)
A lnfonmltlan Nlllted to Non Ut. lnaurer
1 Date of eelalll11tunent :
Lumbini lneumao& company Limited{hetin after called COmpany} is incorporatBd as Public Limited
Company on 2061/09/09, Under Company Act, 2053.
2 IPlllUIWl--date:
The Company has obtained lfC8nse on .2062/0'3/31 under sectton 10(3) of lnstJrance Act 2049 and
Rule 8(2) of Insurance Regulations, 2049.
3 lr111uruc:. bull_ type, r111tu,.:
The Company IBBues General Insurance/ Non Ufa Insurance contracts such 88 Property, Marine,
Motor, Engineering, Aviaiton, Cattle& Agriculture and Miscallaneoue Policiee.
4 Dne otc:omm-ntof bulll-:
The date of commincement of business is 20B2J04/02
B ln1uNr'1 Board of Dfrec:tale "'811 apprOYI falloWfng mltlllrl

1 Vlllclty af 111:,_ INIMCI by 8-na Samltl to cany lnllu,.,_ 11111111_
Ucen&& Issued under sectton 10(3) of Insurance Act 2049 and Rule& 8(2) of lnsLr.111ce Rgeulattons,
2049 has Validity till Chaitra end 2078.
'nix, .-vie. chlrge, fl'"' ud ~to M P91ld undotr I• .-id "'8Hiillon peild or riot wl""•
Company had paid all Tax, service charges, fine and penalties under laws & regulation.
3 S1111'9 litrul:1ln of the COlllPllll~ Uor!a .tth c11111'11981111' ll!Y In lne wtth P!Wlllng llwll a "'IJUl.Uon
Share structure on the basis at ownership Is llluslrated below
SllaJv Allat18Jul'.f2022
Slwe t.,lb' th" En~lty ~ \\i of Sw9
Pr!Jnollir 6,695,201 51
OenSf'lllPUblk: 6,432,844 49
Tb1ll 13,127,345 100
4 WhellMI' aofvillllcy ndfo aa pna crtllbecl by bNnla u.mlll 111 maintained or not.
Company has 2.86 solvency ratio as preecnbed by Beema Sruniti.
5 11) Stlltlllll»nt regllt'dlng euet& ttl.lt flnandllll 11mount con'llllnllcl In 80FP - riat cw••'lllllld ttl8n
lt'9 1lllr valua.
The Anenclal amount of a~ts contained on SOFP ere stated es per It's telr value so It Is not
overstated.
b) ..._...,,,.nt bNla or lhoJ -w rec:ogni.d In flnandlll e~n111.
I) lnves1ment made on Govemement Bond has been recognized as Fair value of Book value
whicllever is lower
II) Investment on Fixed Deposit on Bari(& and Financial lnsutllutlons ls regcoglnlzad on pmclpal vaiJ&.
iii) Investment on Debell.Ire and Equity of Public Lim~ed companies are recognized on fair Value.
Iv) Short term Investment Is recognized on fair value or purchase value whclhever Is lower.•
® &t.t...-1.......a!DMU'f'L'l'll. - - - - - - - - - - - - - - - - - - - -
87
e Declll'don on 11\t'Htent .,._.by lntu• thet •re In llne wfttl prevllllng 1-.. Hnot l'98&0ll be
cllldloed.
Company complied lrlll9Stment Directives , 2073, ieeued by Beema &am~i.
7 Number at ctUn seftllld wtthln the y.w ud OU'lltllndln9 dllrn number ud time fl'llme to Mtllit
tM OU1llta'lclng clalm.
Company has settled 7,874 Number of clalm lllithln 11-.& year and 2, 194 outstanding claim number
• Deolaratlon on oomphll• wtth th• pr'R11lol\ ot or lnMn,_ Aot 2049, IMll- A19111111an
2048, Clln.-riy Act 2083, NF'RS9 Md o1hw p-111ng law.• n1911latloM ID .tllm lnlurw elMlll
edhen& to end fllf'/f non-comp11111.-wt1t1 reuona thlfO!'.
Company has oomplied with the provision of Insurance Act 2049, Insurance Regulation 2049,
Cofr4lallY Act 2063, NFRSs and other prevalllng laws & regula!lons.
• Deollratlon !flat the '"'°"'allt ~nllng polkly llu tie.I aonllltantt, edoptlcl •
The epproprate accoutnl~ policy has been Cllnslstently adopted th et prov1oes relhlble and relevent
lnformmlon anot the effects of transcatlons, event or condhlons on the endly's flnanclal posdon,
financial performance or caeh flows.
10 Dedandlon on Fll\9ndel illatlllnenta • t Aeponlng dllte that the alnuren tllllnnclllll poaltlCln Ind
nnwlal l*fonnl.CM - pn 11 nted tn. al'ld falrty.
~ nas pros fed true ard Fair Fhlldal Posltla!l and Rnanclal Pett:rmance as 2t ~ng <ID.
11 "Dlalanillon tMt Board at Dlreotors ll4IMI ll!lllM*'lted 1~1 II'111111 and Qpraprtata prcl'Wtllan ta
.-..ud tlll ...-lllld far kt.t1dllwlton lllli n•llriJl6M l8lliilt '-*'to ti.Id,•• I i211r•liillt
end Tm19111artt1111a.
Adequate end eppropriale provsion to $8,fegurad the assets and for identttication and mitigation
against losses due to fraud, embezslement and lrregualrtltles nave been Implemented.
12 Deolaratlon !flat ftnanalll ltllblmant lwl bMll pnparect l:IUlld an golnsi - " bale.
Company hes prepared Financial Stetements on going concern bests.
18 Dectandlon ttiat the Internal cantrol qagem 11 tc1111P!W'll11nde wtth ttle aim, nature Ind YO!ucme
otthl lneurw'e lllmln-.
The lntemal control system of company Is commensurate with the size, nawre & volume of the
insurer's business.
14 Declll'don INt the lntu• hU no col\ductlld i.. not conducted ll'IY traM.c~ contrlt1 to
lneu-Act. 2049, CompMIMI Act. 2GU, Nlated nMNlllan1 Md drrectfone W11h 1f1Y !MftOn.
ftnn, compuiy ud dlrwtor or wtth lllY entity In wt11Ch dlractor i.. lntarMt.
Company has not conducted MY 11'ansactrons con11'ary to Insurance Act, 2049, Companies Act,
2063, relaled regulalions end directions with 811'/ persoo, firm, company and dire<:tor or with any
entity In IM'llch director has lntareat.
16 DllCllosure an any IMftll)llM lntld by 8-1111 eamltl for tM partlaular flnlnolal ,...,,
Beeme samnr he& not le'llfed any penaJUles for flscal year 207&-79.
111 Olher clllCIOM1re wtllcfl 11 d11nMld approprtate II> m111111191rnmt.
Management hae no other deemed appropriate dieoloeure •
88
~·liMllS-IOM
Lumbini General Insurance Company Ltd.
Annexure Ill
..
.....__. ..,..,,.._
Ma,for Flnancfal Indicator

Rl:lllW
SH. l'll1illllll hlllbl
'Jf11tl19 mm. 'lffN71 :l1J75l1I 2074115
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2 lllrmrl&'R lllrm 13.1:17.848 1I.9WIX) 11.418,(U) a.eoo.im 8.8tMD
3 ika<IV!llt- lf!I. lN 181 178 194 151
4 lilll'll'llt If\!. 18:1,79!),7.16 1!l6,4li1,600 1~ g,11z:m IOI (Jf:.2lm
5 llntV!D'lliml ~ I& 14.00 1e.39 17.51 21.20 '1B5l
6 IM!lnl pet hw~ lf!I. 7 lll.oo lD.00 W.24 0.00
7 Mltdl'llal Jlll' 9-(llffS! If!!. 3112 780 453 4:M !!'ill
8 !'Ila! entv Alltl All> 'lJ 4.1 28 19 21
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1~ Cll!lhid Rd! J,ola Alli> + illn> Rllill "'!I. -1M$ -11:!$ -1211, -1M 1(1\f,
14 lidl'&m:el'mWIMl:urml'miln 'l\ 35 44 45 48 80
15 Nltl'lttl'Qoig Wm l'mllll 'J. 12' 14\li 0 15 19
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8

Annexure IV
Dnlll• ot Insured Amount
..._._ '*" .._,.......... ............. ~ l-1'111111 llwldlllkCldlll•--- llll lllnd Niil ,_lllll llJI-
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73,480,1168,462
,,,....11111 -
72,$18,043,987
~ ~ ,,,....Yw
e&,6M.~,ae"T 5&.4()1,967,200
2 11a1no 11.051 5.2AO 29.713,810.170 21.813,538,775 24,D70,984,3a1 17,1143,708,483 5,&l'Z,e45,T7D 3.9119.8211.21n
3 Ma\l:lr 78,2138 73,159 34,346,621,171 2,293,033,400 18.527.178,1!25 974,13e,089 15819.~ 1.318,884,371
4 Aillibl 4 1 22.3'48.&lO 5158,686,700 . . 22.3'18bX> ~.686.700
5 Englmt!g 2,341 2,174 27,349,077,126 32,204,48S,630 25,353,338,333 29,000,317,675 1,005,740,793 2,304,187,955
B Mllb1 21,153 20,581 2.8118,913,!59 2.1187,&73,545 2.159,131,ll67 2.271.7118.M li39.7!2.n2 see.1llll.548
1 Cll!le and C)'OI) 4,2111 2,462 3,337,2311,&l() 3.337,239,SJO ti00,038,160 !M!7,447,QOO 2,(IJT,'lJJJ!BJ 2,55U,791,840
8 Mlaln!oua 7,134 8,623 121,ooa,168,374 IKl,330,825,697 T.l,300,558,2~ 112,568,5"5,417 47,702,810,132 17,782,(8),280
Ta111 144,W 131,711 3111.saz,500,1311 274,125.582.187 217.4U7.1111.211 118.543.819.517 144.115,330,157 17,511,803JID
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