FORM L-1-A-RA KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SEGMENT-WISE REVENUE ACCOUNT FOR THE QUARTER ENDED JUN 30, 2017 Policyholders' Account (Technical Account) (Amounts in thousands of Indian Rupees) Particulars Schedule Life Participating Pension Participating Life Non Participating -Life Non- Participating Variable(VIP) Pension Non- Participating Variable(VIP) General Annuity Unit Linked Unit Linked Pension Total Premiums earned - net (a) Premium Income L-4 22,00,406 10,043 38,81,181 2,17,550 46,210 40,946 30,34,156 2,90,048 97,20,540 (b) Reinsurance Ceded (3,203) (20) (2,42,575) (0) - - (9,223) (5) (2,55,026) (c) Reinsurance accepted - - - - - - - - - SUB-TOTAL 21,97,203 10,023 36,38,606 2,17,550 46,210 40,946 30,24,933 2,90,043 94,65,514 Income from Investments (a) Interest, Dividends and Rent Gross 6,07,181 18,639 6,69,207 13,591 38,505 12,285 11,57,109 1,29,289 26,45,806 (b) Profit on sale/redemption of investments 99,804 4,608 1,18,136 1,961 2,563 276 19,81,533 2,18,087 24,26,968 (c) (Loss on sale/redemption of investments) (6,387) (210) (1,228) (118) (192) - (2,85,020) (26,810) (3,19,965) (d) Transfer/ Gain on revaluation/change in fair value* - - - - - - 13,69,164 65,045 14,34,209 SUB-TOTAL 7,00,598 23,037 7,86,115 15,434 40,876 12,561 42,22,786 3,85,611 61,87,018 Contribution from Shareholder's Account - - - 11,654 281 4,673 - - 16,608 Other Income (a) Miscellaneous income 4,540 4 765 10 2 2 8,020 32 13,375 (b) Profit/(Loss) on sale/disposal of fixed assets (Net) 293 1 516 29 6 5 403 39 1,292 SUB-TOTAL 4,833 5 1,281 39 8 7 8,423 71 14,667 TOTAL(A) 29,02,634 33,065 44,26,002 2,44,677 87,375 58,187 72,56,142 6,75,725 1,56,83,807 Commission L-5 2,56,558 260 1,10,738 - - 494 54,771 631 4,23,452 Operating Expenses related to Insurance business L-6 10,30,083 637 8,50,475 12,297 2,991 3,707 4,16,037 15,357 23,31,584 Service Tax Expenditure - - - - - - 96,630 5,219 1,01,848 Provision for doubtful debts - - - - - - - - - Bad debts written off - - - - - - - - - Provision for Tax 5,182-1,04,338 (2,180) - - (18,843) - 88,497 Provisions (other than taxation) (a) Diminution in the value of investments(net) 7,468-7,470 - - - - - 14,938 (b) For standard loan assets (198) - (135) - - - - - (333) TOTAL(B) 12,99,093 897 10,72,886 10,117 2,991 4,201 5,48,595 21,207 29,59,986 Benefits paid (net) L-7 5,58,117 8,051 12,93,955 55,460 9,602 9,395 38,57,052 4,51,521 62,43,153 Interim & Terminal Bonuses paid 34,224 347 - - - - - - 34,571 Change in valuation of Liability in respect of Life policies (a) Gross ** 9,68,394 9,424 15,15,623 1,79,099 74,782 44,592 53,812 4,257 28,49,983 (b) Amount ceded in reinsurance - - (30,280) - - - - - (30,280) (c) Amount accepted in reinsurance - - - - - - - - - Provision for linked liabilities - - - - - - 26,56,757 1,64,445 28,21,202 TOTAL( C) 15,60,735 17,822 27,79,298 2,34,559 84,384 53,987 65,67,621 6,20,223 1,19,18,629 SURPLUS/(DEFICIT) (D)=(A)-(B)-(C) 42,806 14,345 5,73,819 - - 0 1,39,926 34,295 8,05,192 APPROPRIATIONS Transfer to Shareholders -Account - - - - - - - - - Transfer to Other Reserve - - - - - - - - - Transfer to Funds for Future Appropriation - - - - - - - - - Surplus after Appropriation 42,806 14,348 5,73,818 - - 0 1,39,928 34,292 8,05,192 TOTAL(D) 42,806 14,348 5,73,818 - - 0 1,39,928 34,292 8,05,192 SURPLUS/(DEFICIT) BROUGHT FORWARD 15,90,289 1,97,501 - - - - - - 17,87,790 Surplus after Appropriation 42,806 14,348 5,73,818 - - 0 1,39,928 34,292 8,05,192 SURPLUS/(DEFICIT) CARRIED FORWARD TO BALANCE SHEET 16,33,095 2,11,849 5,73,818 - - 0 1,39,928 34,292 25,92,982 (a) Interim & Terminal Bonuses Paid 34,224 347 - - - - - - 34,571 (b) Allocation of Bonus to Policyholders - - - - - - - - - (c) Surplus/ (Deficit) shown in the Revenue Account 42,806 14,348 5,73,818 - - 0 1,39,928 34,292 8,05,192 Total Surplus: [(a) + (b) + (c)] 77,030 14,695 5,73,818 - - 0 1,39,928 34,292 8,39,763 The Schedules are an integral part of this Revenue Account. * represents the deemed realised gain as per norms specified by the Authority. ** represents Mathematical Reserves after allocation of bonus. Page 1 of 60
FORM L-1-A-RA KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SEGMENT-WISE REVENUE ACCOUNT UPTO THE QUARTER ENDED JUN 30, 2017 Policyholders' Account (Technical Account) (Amounts in thousands of Indian Rupees) Particulars Schedule Life Participating Pension Participating Life Non Participating -Life Non- Participating Variable(VIP) Pension Non- Participating Variable(VIP) General Annuity Unit Linked Unit Linked Pension Total Premiums earned - net (a) Premium Income L-4 22,00,406 10,043 38,81,181 2,17,550 46,210 40,946 30,34,156 2,90,048 97,20,540 (b) Reinsurance Ceded (3,203) (20) (2,42,575) (0) - - (9,223) (5) (2,55,026) (c) Reinsurance accepted - - - - - - - - - SUB-TOTAL 21,97,203 10,023 36,38,606 2,17,550 46,210 40,946 30,24,933 2,90,043 94,65,514 Income from Investments (a) Interest, Dividends and Rent Gross 6,07,181 18,639 6,69,207 13,591 38,505 12,285 11,57,109 1,29,289 26,45,806 (b) Profit on sale/redemption of investments 99,804 4,608 1,18,136 1,961 2,563 276 19,81,533 2,18,087 24,26,968 (c) (Loss on sale/redemption of investments) (6,387) (210) (1,228) (118) (192) - (2,85,020) (26,810) (3,19,965) (d) Transfer/ Gain on revaluation/change in fair value* - - - - - - 13,69,164 65,045 14,34,209 SUB-TOTAL 7,00,598 23,037 7,86,115 15,434 40,876 12,561 42,22,786 3,85,611 61,87,018 Contribution from Shareholder's Account - - - 11,654 281 4,673 - - 16,608 Other Income (a) Miscellaneous income 4,540 4 765 10 2 2 8,020 32 13,375 (b) Profit/(Loss) on sale/disposal of fixed assets (Net) 293 1 516 29 6 5 403 39 1,292 SUB-TOTAL 4,833 5 1,281 39 8 7 8,423 71 14,667 TOTAL(A) 29,02,634 33,065 44,26,002 2,44,677 87,375 58,187 72,56,142 6,75,725 1,56,83,807 Commission L-5 2,56,558 260 1,10,738 - - 494 54,771 631 4,23,452 Operating Expenses related to Insurance business L-6 10,30,083 637 8,50,475 12,297 2,991 3,707 4,16,037 15,357 23,31,584 Service Tax Expenditure - - - - - - 96,630 5,219 1,01,848 Provision for doubtful debts - - - - - - - - - Bad debts written off - - - - - - - - - Provision for Tax 5,182-1,04,338 (2,180) - - (18,843) - 88,497 Provisions (other than taxation) (a) Diminution in the value of investments(net) 7,468-7,470 - - - - - 14,938 (b) For standard loan assets (198) - (135) - - - - - (333) TOTAL(B) 12,99,093 897 10,72,886 10,117 2,991 4,201 5,48,595 21,207 29,59,986 Benefits paid (net) L-7 5,58,117 8,051 12,93,955 55,460 9,602 9,395 38,57,052 4,51,521 62,43,153 Interim & Terminal Bonuses paid 34,224 347 - - - - - - 34,571 Change in valuation of Liability in respect of Life policies (a) Gross ** 9,68,394 9,424 15,15,623 1,79,099 74,782 44,592 53,812 4,257 28,49,983 (b) Amount ceded in reinsurance - - (30,280) - - - - - (30,280) (c) Amount accepted in reinsurance - - - - - - - - - Provision for linked liabilities - - - - - - 26,56,757 1,64,445 28,21,202 TOTAL( C) 15,60,735 17,822 27,79,298 2,34,559 84,384 53,987 65,67,621 6,20,223 1,19,18,629 SURPLUS/(DEFICIT) (D)=(A)-(B)-(C) 42,806 14,345 5,73,819 - - 0 1,39,926 34,295 8,05,192 APPROPRIATIONS Transfer to Shareholders -Account - - - - - - - - - Transfer to Other Reserve - - - - - - - - - Transfer to Funds for Future Appropriation - - - - - - - - - Surplus after Appropriation 42,806 14,348 5,73,818 - - 0 1,39,928 34,292 8,05,192 TOTAL(D) 42,806 14,348 5,73,818 - - 0 1,39,928 34,292 8,05,192 SURPLUS/(DEFICIT) BROUGHT FORWARD 15,90,289 1,97,501 - - - - - - 17,87,790 Surplus after Appropriation 42,806 14,348 5,73,818 - - 0 1,39,928 34,292 8,05,192 SURPLUS/(DEFICIT) CARRIED FORWARD TO BALANCE SHEET 16,33,095 2,11,849 5,73,818 - - 0 1,39,928 34,292 25,92,982 (a) Interim & Terminal Bonuses Paid 34,224 347 - - - - - - 34,571 (b) Allocation of Bonus to Policyholders - - - - - - - - - (c) Surplus/ (Deficit) shown in the Revenue Account 42,806 14,348 5,73,818 - - 0 1,39,928 34,292 8,05,192 Total Surplus: [(a) + (b) + (c)] 77,030 14,695 5,73,818 - - 0 1,39,928 34,292 8,39,763 The Schedules are an integral part of this Revenue Account. * represents the deemed realised gain as per norms specified by the Authority. ** represents Mathematical Reserves after allocation of bonus. Page 2 of 60
Premiums earned - net FORM L-1-A-RA KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SEGMENT-WISE REVENUE ACCOUNT FOR THE QUARTER ENDED JUN 30, 2016 Policyholders' Account (Technical Account) (Amounts in thousands of Indian Rupees) Particulars Schedule Life Participating Pension Participating Life Non Participating -Life Non- Participating Variable(VIP) Pension Non- Participating Variable(VIP) (a) Premium Income L-4 16,65,553 7,058 32,85,056 35,000 6,55,637 14,314 21,59,775 61,362 78,83,755 (b) Reinsurance Ceded (2,891) (16) (1,89,906) - - - (7,248) 1,986 (1,98,075) (c) Reinsurance accepted - - - - - - - - - General Annuity Unit Linked Unit Linked Pension SUB-TOTAL 16,62,662 7,042 30,95,150 35,000 6,55,637 14,314 21,52,528 63,348 76,85,680 Total Income from Investments (a) Interest, Dividends and Rent Gross 5,12,542 18,508 4,89,834 22,500 33,395 8,093 10,62,100 1,12,083 22,59,055 (b) Profit on sale/redemption of investments 1,50,272 3,728 77,249 5,134 3,520 63 13,91,328 1,61,514 17,92,808 (c)loss on sale/redemption of investments (14,378) (692) (19,826) - (330) - (5,91,484) (50,239) (6,76,949) (d) Transfer/ Gain on revaluation/change in fair value* - - - - - - 39,89,815 2,94,385 42,84,200 SUB-TOTAL 6,48,436 21,545 5,47,257 27,634 36,585 8,156 58,51,759 5,17,742 76,59,114 Contribution from Shareholder's Account - - - 1,663 29,815 - - - 31,478 Other Income (a) Miscellaneous income 3,781 6 1,093 6 116 3 10,839 29 15,873 (b) Profit/(Loss) on sale/disposal of fixed assets (Net) 41 0 82 1 16 0 54 2 196 SUB-TOTAL 3,822 6 1,175 7 132 3 10,893 31 16,069 TOTAL(A) 23,14,920 28,592 36,43,582 64,304 7,22,169 22,473 80,15,179 5,81,122 1,53,92,341 Commission L-5 1,91,103 225 1,43,522 - - 166 33,061 697 3,68,774 Operating Expenses related to Insurance business L-6 8,90,766 5,081 7,76,789 1,150 21,543 1,459 2,83,677 2,548 19,83,013 Service Tax Expenditure - - - - - - 79,090 5,541 84,631 Provision for doubtful debts - - - - - - - - - Bad debts written off - - - - - - - - - Provision for Tax (1,553) - 48,001 (340) - - (3,673) - 42,435 Provisions (other than taxation) (a) Diminution in the value of investments(net) - - (8,703) - - - - - (8,703) (b) For standard loan assets (314) - (210) - - - - - (524) TOTAL(B) 10,80,002 5,307 9,59,399 810 21,543 1,625 3,92,155 8,786 24,69,626 Benefits paid (net) L-7 4,89,622 20,890 12,50,341 80,521 1,16,535 4,422 31,37,966 4,80,945 55,81,242 Interim & Terminal Bonuses paid 26,963 1,248 - - - - - - 28,211 Change in valuation of Liability in respect of Life policies (a) Gross ** 7,11,802 (8,028) 12,03,053 (17,027) 5,84,091 15,421 43,155 7,525 25,39,992 (b) Amount ceded in reinsurance - - (17,045) - - - - - (17,045) (c) Amount accepted in reinsurance - - - - - - - - - Provision for linked liabilities - - - - - - 42,30,494 45,493 42,75,987 TOTAL( C) 12,28,387 14,110 24,36,349 63,494 7,00,626 19,843 74,11,615 5,33,963 1,24,08,387 SURPLUS/(DEFICIT) (D)=(A)-(B)-(C) 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328 APPROPRIATIONS Transfer to Shareholders Account - - - - - - - - - Transfer to Other Reserve - - - - - - - - - Transfer to Funds for Future Appropriation - - - - - - - - - Surplus after Appropriation 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328 TOTAL (D) 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328 SURPLUS/(DEFICIT) BROUGHT FORWARD 14,23,254 1,55,732 - - - - - - 15,78,986 Surplus after Appropriation 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328 SURPLUS/(DEFICIT) CARRIED FORWARD TO BALANCE SHEET 14,29,785 1,64,908 2,47,834 - - 1,005 2,11,409 38,373 20,93,314 (a) Interim & Terminal Bonuses Paid 26,962 1,248 - - - - - - 28,211 (b) Allocation of Bonus to Policyholders - - - - - - - - - (c) Surplus/ (Deficit) shown in the Revenue Account 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328 Total Surplus: [(a) + (b) + (c)] 33,494 10,423 2,47,834 - - 1,005 2,11,409 38,373 5,42,539 The Schedules are an integral part of this Revenue Account. * represents the deemed realised gain as per norms specified by the Authority. ** represents Mathematical Reserves after allocation of bonus. Page 3 of 60
Premiums earned - net FORM L-1-A-RA KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SEGMENT-WISE REVENUE ACCOUNT UPTO THE QUARTER ENDED JUN 30, 2016 Policyholders' Account (Technical Account) (Amounts in thousands of Indian Rupees) Particulars Schedule Life Participating Pension Participating Life Non Participating -Life Non- Participating Variable(VIP) Pension Non- Participating Variable(VIP) (a) Premium Income L-4 16,65,553 7,058 32,85,056 35,000 6,55,637 14,314 21,59,775 61,362 78,83,755 (b) Reinsurance Ceded (2,891) (16) (1,89,906) - - - (7,248) 1,986 (1,98,075) (c) Reinsurance accepted - - - - - - - - - General Annuity Unit Linked Unit Linked Pension SUB-TOTAL 16,62,662 7,042 30,95,150 35,000 6,55,637 14,314 21,52,528 63,348 76,85,680 Total Income from Investments (a) Interest, Dividends and Rent Gross 5,12,542 18,508 4,89,834 22,500 33,395 8,093 10,62,100 1,12,083 22,59,055 (b) Profit on sale/redemption of investments 1,50,272 3,728 77,249 5,134 3,520 63 13,91,328 1,61,514 17,92,808 (c)loss on sale/redemption of investments (14,378) (692) (19,826) - (330) - (5,91,484) (50,239) (6,76,949) (d) Transfer/ Gain on revaluation/change in fair value* - - - - - - 39,89,815 2,94,385 42,84,200 SUB-TOTAL 6,48,436 21,545 5,47,257 27,634 36,585 8,156 58,51,759 5,17,742 76,59,114 Contribution from Shareholder's Account - - - 1,663 29,815 - - - 31,478 Other Income (a) Miscellaneous income 3,781 6 1,093 6 116 3 10,839 29 15,873 (b) Profit/(Loss) on sale/disposal of fixed assets (Net) 41 0 82 1 16 0 54 2 196 SUB-TOTAL 3,822 6 1,175 7 132 3 10,893 31 16,069 TOTAL(A) 23,14,920 28,592 36,43,582 64,304 7,22,169 22,473 80,15,179 5,81,122 1,53,92,341 Commission L-5 1,91,103 225 1,43,522 - - 166 33,061 697 3,68,774 Operating Expenses related to Insurance business L-6 8,90,766 5,081 7,76,789 1,150 21,543 1,459 2,83,677 2,548 19,83,013 Service Tax Expenditure - - - - - - 79,090 5,541 84,631 Provision for doubtful debts - - - - - - - - - Bad debts written off - - - - - - - - - Provision for Tax (1,553) - 48,001 (340) - - (3,673) - 42,435 Provisions (other than taxation) (a) Diminution in the value of investments(net) - - (8,703) - - - - - (8,703) (b) For standard loan assets (314) - (210) - - - - - (524) TOTAL(B) 10,80,002 5,307 9,59,399 810 21,543 1,625 3,92,155 8,786 24,69,626 Benefits paid (net) L-7 4,89,622 20,890 12,50,341 80,521 1,16,535 4,422 31,37,966 4,80,945 55,81,242 Interim & Terminal Bonuses paid 26,963 1,248 - - - - - - 28,211 Change in valuation of Liability in respect of Life policies (a) Gross ** 7,11,802 (8,028) 12,03,053 (17,027) 5,84,091 15,421 43,155 7,525 25,39,992 (b) Amount ceded in reinsurance - - (17,045) - - - - - (17,045) (c) Amount accepted in reinsurance - - - - - - - - - Provision for linked liabilities - - - - - - 42,30,494 45,493 42,75,987 TOTAL( C) 12,28,387 14,110 24,36,349 63,494 7,00,626 19,843 74,11,615 5,33,963 1,24,08,387 SURPLUS/(DEFICIT) (D)=(A)-(B)-(C) 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328 APPROPRIATIONS Transfer to Shareholders Account - - - - - - - - - Transfer to Other Reserve - - - - - - - - - Transfer to Funds for Future Appropriation - - - - - - - - - Surplus after Appropriation 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328 TOTAL (D) 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328 SURPLUS/(DEFICIT) BROUGHT FORWARD 14,23,254 1,55,732 - - - - - - 15,78,986 Surplus after Appropriation 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328 SURPLUS/(DEFICIT) CARRIED FORWARD TO BALANCE SHEET 14,29,785 1,64,908 2,47,834 - - 1,005 2,11,409 38,373 20,93,314 (a) Interim & Terminal Bonuses Paid 26,962 1,248 - - - - - - 28,211 (b) Allocation of Bonus to Policyholders - - - - - - - - - (c) Surplus/ (Deficit) shown in the Revenue Account 6,531 9,175 2,47,834 - - 1,005 2,11,409 38,373 5,14,328 Total Surplus: [(a) + (b) + (c)] 33,494 10,423 2,47,834 - - 1,005 2,11,409 38,373 5,42,539 The Schedules are an integral part of this Revenue Account. * represents the deemed realised gain as per norms specified by the Authority. ** represents Mathematical Reserves after allocation of bonus. Page 4 of 60
FORM L-2-A-PL KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of registration: January 10, 2001 PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED JUNE 30, 2017 Shareholders Account (Non-technical Account) (Amounts in thousands of Indian Rupees) Particulars Schedule For the quarter ended on 30th June 2017 Upto the quarter ended on 30th June 2017 For the quarter ended on 30th June 2016 Upto the quarter ended on 30th June 2016 Amounts transferred from Policyholders Account (Technical Account) - - - - Income from Investments (a) Interest, Dividends and Rent Gross- Net of amortisation 3,51,654 3,51,654 2,96,399 2,96,399 (b) Profit on sale/ redemption of investments 3,167 3,167 23,960 23,960 (c) (Loss on sale/ redemption of investments) (0) (0) (18,826) (18,826) 3,54,821 3,54,821 3,01,533 3,01,533 Other Income - - - - TOTAL (A) 3,54,821 3,54,821 3,01,533 3,01,533 Expenses other than those directly related to the insurance business L-6A 3,941 3,941 4,596 4,596 Bad debts written off - - - - Provisions (other than taxation) (a) For diminution in the value of investments (Net) - - - - (b) Provision for doubtful debts - - - - (c) Others - - - - -Corporate Social Responsibilitty Expenditure - - - - -Contribution to the Policyholders Fund 16,608 16,608 31,478 31,478 TOTAL (B) 20,549 20,549 36,074 36,074 Profit before tax 3,34,272 3,34,272 2,65,459 2,65,459 Provision for taxation - Current Year 55,297 55,297 50,393 50,393 - Deferred tax charge / (credit) - - - - Profit after tax 2,78,975 2,78,975 2,15,066 2,15,066 Appropriations (a) Balance at the beginning of the year 1,26,23,899 1,26,23,899 95,91,170 95,91,170 (b) Interim dividends paid during the year - - - - (c) Proposed final dividend - - - - (d) Tax on dividend distributed - - - - (e) Transfer to reserves/ other accounts - - - - Profit/(Loss) carried to the Balance Sheet 1,29,02,874 1,29,02,874 98,06,236 98,06,236 The Schedules are an integral part of this Profit and Loss Account. Earnings Per Share (Basic and Diluted) (`) 0.55 0.55 0.42 0.42 Nominal value per share (`) 10.00 10.00 10.00 10.00 Page 5 of 60
Particulars Schedule June 30, 2017 June 30, 2016 SOURCES OF FUNDS Shareholders Funds: Share Capital L-8 & L-9 51,02,902 51,02,902 Reserves and Surplus L-10 1,34,23,237 1,03,26,599 Credit/[Debit] Fair Value Change Account - - Sub-Total 1,85,26,139 1,54,29,501 Borrowings L-11 - - Policyholders Funds: Credit/[Debit] Fair Value Change Account 19,88,216 9,05,040 Revaluation Reserve - Investment Property 2,03,345 2,03,345 Policy Liabilities - Life Participating 3,04,98,013 2,44,51,062 - Pension Participating 6,99,013 6,91,110 - Life Non- Participating 3,64,39,719 2,49,35,160 - Life Non- Participating Variable(VIP) 8,19,161 11,85,950 - Pension Non-Participating Variable (VIP) 20,46,060 21,32,949 - General Annuity 6,27,636 3,13,590 - Unit Linked 18,34,655 17,78,746 - Unit Linked Pension 2,08,766 7,31,73,023 1,85,936 5,56,74,503 Insurance Reserves - Life Participating 15,90,289 14,23,254 - Pension Participating 1,97,501 17,87,790 1,55,732 15,78,986 Provision for Linked Liabilities - Linked Liabilities 10,13,93,467 8,88,06,423 - Fair Value Change 1,52,86,866 11,66,80,333 1,00,93,463 9,88,99,886 Funds for Discontinued policies - Discontinued on account of non-payment of premium 17,33,666 19,26,171 - Others - - Sub-Total 19,55,66,373 15,91,87,931 Funds for Future Appropriation:-Linked Liabilities - - - Surplus in Revenue Account 8,05,192 5,14,328 Total 21,48,97,704 17,51,31,760 APPLICATION OF FUNDS Investments Shareholders L-12 1,86,02,303 1,53,52,092 Policyholders L-13 7,84,77,066 5,95,04,218 Assets Held to Cover Linked Liabilities L-14 11,84,13,999 10,08,26,057 Loans L-15 14,51,746 13,64,307 Fixed Assets L-16 6,07,587 4,41,958 Current Assets Cash and Bank Balances L-17 10,11,116 4,85,653 Advances and Other Assets L-18 38,89,077 29,12,514 Sub-Total (A) 49,00,193 33,98,167 Current Liabilities L-19 71,66,897 54,33,924 Provisions L-20 3,88,293 3,21,115 Sub-Total (B) 75,55,190 57,55,039 Net Current Assets (C) = (A-B) (26,54,997) (23,56,872) Miscellaneous Expenditure (To the extent not written off or adjusted) L-21 - - Debit Balance in Profit and Loss Account (Shareholders Account) - - 21,48,97,704 17,51,31,760 The Schedules are an integral part of this Balance Sheet. Prior quarter's figures have been regrouped / reclassified wherever necessary CONTINGENT LIABILITIES Particulars June 30, 2017 June 30, 2016 1. Partly paid-up investments 1,79,740 7,500 2. Underwriting commitments outstanding (in respect of shares and securities) - - 3. Claims, other than against policies, not acknowledged as debts by the company 2,845 2,000 4. Guarantees given by or on behalf of the Company 1,491 1,491 5. Statutory demands/ liabilities in dispute, not provided for (Service Tax) 28,71,999 27,20,573 6. Reinsurance obligation to the extent not provided for in accounts - - 7. Others Insurance claims in appeal net of provision (Gross value of claims ` 390,197, out of which reinsured ` 78,086 and provision held ` 215,626 ) FORM L-3-A-BS KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of registration: January 10, 2001 BALANCE SHEET AS AT JUNE 30, 2017 (Amounts in thousands of Indian Rupees) 96,485 1,03,596 Total 31,52,560 28,35,160 Page 6 of 60
FORM L-4-PREMIUM SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) Particulars For the quarter ended on 30th June 2017 Upto the quarter ended on 30th June 2017 For the quarter ended on 30th June 2016 Upto the quarter ended on 30th June 2016 First year Premium 26,37,826 26,37,826 30,10,769 30,10,769 Renewal Premium 48,98,763 48,98,763 31,14,774 31,14,774 Single Premium 21,83,951 21,83,951 17,58,212 17,58,212 Total Premium 97,20,540 97,20,540 78,83,755 78,83,755 Notes: (a) All the premium income relates to business in India Page 7 of 60
FORM L-5 - COMMISSION SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) Particulars For the quarter ended on 30th June 2017 Upto the quarter ended on 30th June 2017 For the quarter ended on 30th June 2016 Upto the quarter ended on 30th June 2016 Commission Paid First year Premium 3,03,969 3,03,969 2,77,327 2,77,327 Renewal Premium 1,07,880 1,07,880 84,067 84,067 Single Premium 11,603 11,603 7,380 7,380 Sub-total 4,23,452 4,23,452 3,68,774 3,68,774 Add: Commission on Re-insurance accepted - - - - Less: Commission on Re-insurance ceded - - - - Net Commission 4,23,452 4,23,452 3,68,774 3,68,774 Breakup of Gross Commission Particulars For the quarter ended on 30th June 2017 Upto the quarter ended on 30th June 2017 For the quarter ended on 30th June 2016 Upto the quarter ended on 30th June 2016 Agents 2,58,341 2,58,341 2,18,750 2,18,750 Brokers 32,024 32,024 24,706 24,706 Corporate Agents 1,33,087 1,33,087 1,25,318 1,25,318 Referral - - - - Total 4,23,452 4,23,452 3,68,774 3,68,774 Note : Page 8 of 60
FORM L-6-OPERATING EXPENSES SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS Operating Expenses Related to Insurance Business (Amounts in thousands of Indian Rupees) Particulars For the quarter ended on 30th June 2017 Upto the quarter ended on 30th June 2017 For the quarter ended on 30th June 2016 Upto the quarter ended on 30th June 2016 Employees remuneration and welfare benefits 12,98,063 12,98,063 11,55,387 11,55,387 Travel, conveyance and vehicle running expenses 46,605 46,605 50,553 50,553 Training expenses 10,806 10,806 17,178 17,178 Rent, Rates and Taxes 1,20,483 1,20,483 1,16,155 1,16,155 Repairs 60,435 60,435 35,202 35,202 Printing and Stationery 21,348 21,348 21,268 21,268 Communication expenses 30,849 30,849 30,709 30,709 Legal and Professional charges 39,855 39,855 36,855 36,855 Medical fees 10,804 10,804 5,206 5,206 Auditors fees, expenses etc. (a) as auditor 1,717 1,717 1,298 1,298 (b) as adviser or in any other capacity, in respect of - Taxation matters - - - - - Insurance Matters - - - - - Management services; and - - - - (c) in any other capacity (including out of pocket expenses) 34 34 130 130 Advertisement and publicity 1,81,169 1,81,169 76,600 76,600 Interest and Bank charges 7,536 7,536 3,941 3,941 Sales Promotion and Distribution expenses 1,66,839 1,66,839 1,77,045 1,77,045 Depreciation 70,758 70,758 54,776 54,776 Information Technology expenses 53,340 53,340 55,367 55,367 Electricity charges 22,015 22,015 26,570 26,570 Recruitment expenses 12,265 12,265 13,123 13,123 Stamp Duty 77,314 77,314 47,297 47,297 Membership and Subscription Fees 2,894 2,894 4,777 4,777 Service Tax Expenses 8,837 8,837 8,729 8,729 General administration and other expenses 87,618 87,618 44,847 44,847 Total 23,31,584 23,31,584 19,83,013 19,83,013 Notes: a) Refer Schedule 16 - Note 2 (k) and Note 24 FORM L-6A-EXPENSES OTHER THAN THOSE DIRECTLY RELATED TO INSURANCE BUSINESS KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS Expenses other than those directly related to Insurance Business (Amounts in thousands of Indian Rupees) b) Refer Schedule 16 -Note 2(h), Note 6 & Note 22. Particulars For the quarter ended on 30th June 2017 Upto the quarter ended on 30th June 2017 For the quarter ended on 30th June 2016 Upto the quarter ended on 30th June 2016 Employees remuneration and welfare benefits 1,587 1,587 1,751 1,751 Travel, conveyance and vehicle running expenses 6 6 9 9 Rent, Rates and Taxes 263 263 257 257 Printing and Stationery 3 3 3 3 Communication expenses 5 5 3 3 Legal and Professional charges 141 141 153 153 Interest and Bank charges 125 125 88 88 Depreciation 103 103 65 65 Others 1,708 1,708 2,267 2,267 Total 3,941 3,941 4,596 4,596 Page 9 of 60
FORM L-7-BENEFITS PAID SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) Particulars For the quarter ended on 30th June 2017 Upto the quarter ended on 30th June 2017 For the quarter ended on 30th June 2016 Upto the quarter ended on 30th June 2016 1. Insurance Claims (a) Claims by Death 12,55,699 12,55,699 9,99,830 9,99,830 (b) Claims by Maturity 9,69,065 9,69,065 11,61,559 11,61,559 (c) Annuities/ Pension payment 6,655 6,655 4,390 4,390 (d) Other Benefits Survival Benefits 74,165 74,165 1,25,494 1,25,494 Surrenders 38,91,462 38,91,462 32,56,105 32,56,105 Discontinuance payments 1,51,843 1,51,843 92,731 92,731 Riders 1,026 1,026 1,053 1,053 Claim Investigation Fees 1,280 1,280 1,799 1,799 Others- Refer note (b) 14,781 14,781 5,049 5,049 Sub Total (A) 63,65,976 63,65,976 56,48,010 56,48,010 2. Amount ceded in reinsurance (a) Claims by Death (1,22,823) (1,22,823) (66,611) (66,611) (b) Claims by Maturity - - - - (c) Annuities/ Pension payment - - - - (d) Other Benefits Survival Benefits - - - - Surrenders - - - - Discontinuance payments - - - - Riders - - (157) (157) Others - - - - Sub Total (B) (1,22,823) (1,22,823) (66,768) (66,768) 3. Amount accepted in reinsurance (a) Claims by Death - - - - (b) Claims by Maturity - - - - (c) Annuities/ Pension payment - - - - (d) Other Benefits Survival Benefits - - - - Surrenders - - - - Discontinuance payments - Riders - - - - Others - - - - Sub Total (C) - - - - Total (A)+(B)+(C) 62,43,153 62,43,153 55,81,242 55,81,242 Notes : (a) All the claims are paid in India. (b) Includes provision for policy related claims. (d) Refer Schedule 16 - Note 30 for regrouping of previous year figures. Page 10 of 60
FORM L-8-SHARE CAPITAL SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) Particulars June 30, 2017 June 30, 2016 Authorized Capital 625,000,000 (2016 625,000,000) Equity Shares of ` 10 each 62,50,000 62,50,000 Issued Capital 510,290,249 (2016 510,290,249) Equity Shares of ` 10 each 51,02,902 51,02,902 Subscribed Capital 510,290,249 (2016 510,290,249) Equity Shares of ` 10 each 51,02,902 51,02,902 Called-up Capital 510,290,249 (2016 510,290,249) Equity Shares of ` 10 each 51,02,902 51,02,902 Less: Calls unpaid - - Add: Shares forfeited (Amount originally paid up) - - Less: Par Value of Equity Shares bought back - - Less: Preliminary Expenses - - Less: Expenses on issue of shares - - Total 51,02,902 51,02,902 Notes: (a) Of the above, 260,248,044 (2016 260,248,044) Equity Shares of ` 10 each fully paid up are held by Kotak Mahindra Bank Limited, the holding company and its nominees, 54,000,000 (2016-54,000,000) and 63,366,753 (2016-63,366,753) fully paid-up Equity Shares of ` 10 each are held by Kotak Mahindra Prime Limited and Kotak Mahindra Capital Company Limited respectively, which are subsidiaries of Kotak Mahindra Bank Limited. FORM L-9-PATTERN OF SHAREHOLDING SCHEDULE Pattern of Shareholding (As certified by the Management) Particulars June 30, 2017 June 30, 2016 Number of Shares % Holding Number of Shares % Holding Shareholders Promoters - Indian 37,76,14,797 74% 37,76,14,797 74% - Foreign 13,26,75,452 26% 13,26,75,452 26% Others - - - - Total 51,02,90,249 100% 51,02,90,249 100% Page 11 of 60
FORM L-10-RESERVES AND SURPLUS SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) Particulars June 30, 2017 June 30, 2016 Capital Reserve - - Capital Redemption Reserve - - Securities Premium 5,20,363 5,20,363 Revaluation Reserve - - General Reserves - - Less: Debit balance in Profit and Loss Account - - Less: Amount utilized for Buy-back - - Catastrophe Reserve - - Other Reserve - - Balance of profit in Profit and Loss Account 1,29,02,874 98,06,236 Total 1,34,23,237 1,03,26,599 Page 12 of 60
FORM L-11-BORROWINGS SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) Particulars June 30, 2017 June 30, 2016 Debentures/ Bonds - - Banks - - Financial Institutions - - Others - - Total - - Page 13 of 60
FORM L-12-INVESTMENTS SHAREHOLDERS SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) Particulars June 30, 2017 June 30, 2016 LONG TERM INVESTMENTS Government securities and Government guaranteed bonds including Treasury Bills 1,62,63,881 1,33,56,153 Other Approved Securities 6,20,042 4,02,041 Other Investments (a) Shares (aa) Equity - - (bb) Preference - - (b) Mutual Funds - - (c) Derivative Instruments - - (d) Debentures/ Bonds 85,437 1,17,687 (e) Other Securities (including Fixed Deposits) - - (f) Subsidiaries - - (g) Investment Properties Real Estate - - Investment in Housing & infrastructure sector (I) Approved Investments (a) Equity - - (b) Others 12,24,454 12,89,342 (II) Other than Approved Investments (a) Equity - - (b) Others 1,00,128 1,00,215 Total 1,82,93,942 1,52,65,438 SHORT TERM INVESTMENTS Government securities and Government guaranteed bonds including Treasury Bills 34,149 7,938 Other Approved Securities - - Other Investments (a) Shares (aa) Equity - - (bb) Preference - - (b) Mutual Funds 1,72,243 14,334 (c) Derivative Instruments - - (d) Debentures/ Bonds 976 999 (e) Other Securities (including Fixed Deposits) - - (f) Subsidiaries - - (g) Investment Properties Real Estate - - Investment in Housing & infrastructure sector (I) Approved Investments (a) Equity - - (b) Others 1,00,993 63,383 (II) Other than Approved Investments (a) Equity - - (b) Others - - Total 3,08,361 86,654 Grand Total 1,86,02,303 1,53,52,092 Notes: Particulars June 30, 2017 June 30, 2016 (a) Investment in Holding Company - Kotak Mahindra Bank - - (b) Investment in Subsidiary, Joint Ventures, Fellow subsidiaries and Associates - Investments in units of the funds of Kotak Mahindra Asset Management Company Ltd 65,452 4,899 - Investment in Kotak Mahindra Prime Ltd in Debentures - - (c) Investment made out of Catastrophe reserve - - (d) Particulars of Investment other than Listed Equity Securities:- - Cost 1,86,02,303 1,53,52,092 - Market Value 2,01,42,467 1,59,03,112 Page 14 of 60
Particulars FORM L-13-INVESTMENTS POLICYHOLDERS SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS Investments-Policyholders' (Amounts in thousands of Indian Rupees) June 30, 2017 June 30, 2016 LONG TERM INVESTMENTS Government securities and Government guaranteed bonds including Treasury Bills 4,16,35,387 3,47,29,311 Other Approved Securities 49,65,954 26,81,962 Other Investments (a) Shares (aa) Equity 94,25,920 48,57,240 (bb) Preference - - (b) Mutual Funds - - (c) Derivative Instruments - - (d) Debentures/ Bonds 30,22,084 26,16,307 (e) Other Securities (including Fixed Deposits) 10,69,780 4,86,820 (f) Subsidiaries - - (g) Investment Properties Real Estate 17,85,251 6,98,424 (h) Deposit with Clearing Corporation of India Ltd. - - Investment in Housing & infrastructure sector (I) Approved Investments (a) Equity 1,69,378 1,25,099 (b) Others 85,47,929 91,87,627 (II) Other than Approved Investments (a) Equity 22,03,180 11,90,832 (b) Others 29,32,434 15,00,734 Total 7,57,57,297 5,80,74,356 SHORT TERM INVESTMENTS Government securities and Government guaranteed bonds including Treasury Bills 3,979 190 Other Approved Securities - - Other Investments (a) Shares (aa) Equity - (bb) Preference - - (b) Mutual Funds 15,23,257 6,36,995 (c) Derivative Instruments - (d) Debentures/ Bonds 75,070 5,50,153 (e) Other Securities (including Fixed Deposits) 94,268 48,796 (f) Subsidiaries - - (g) Investment Properties Real Estate - - Investment in Housing & infrastructure sector (I) Approved Investments (a) Equity - - (b) Others 10,23,196 1,93,728 (II) Other than Approved Investments (a) Equity - - (b) Others - - Total 27,19,770 14,29,862 Grand Total 7,84,77,066 5,95,04,218 Notes: Particulars June 30, 2017 June 30, 2016 (a) Investment in fixed deposits/ debentures Holding Company - Kotak Mahindra Bank Ltd - 1,00,958 (b) Investment in Subsidiary, Joint Ventures, Fellow subsidiaries and Associates - Investment in unit of the funds of Kotak Mahindra Asset Management Company Ltd 5,78,548 2,14,285 - Investment in Kotak Mahindra Prime Ltd in Debentures - 1,99,907 (c) Investment made out of Catastrophe reserve - - (d) Particulars of Investment other than Listed Equity Securities:- - Cost 6,78,31,090 5,33,59,792 - Market Value 7,22,63,315 5,52,95,032 Page 15 of 60
Particulars FORM L-14-ASSETS HELD TO COVER LINKED LIABILITIES SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) June 30, 2017 June 30, 2016 LONG TERM INVESTMENTS Government securities and Government guaranteed bonds including Treasury Bills 1,05,91,460 2,15,22,639 Other Approved Securities 1,17,65,311 22,32,359 Other Investments (a) Shares (aa) Equity 5,11,97,071 4,50,84,632 (bb) Preference 12,735 12,072 (b) Mutual Funds - - (c) Derivative Instruments - - (d) Debentures/ Bonds 86,10,752 51,51,623 (e) Other Securities (including Fixed Deposits) - - (f) Subsidiaries - - (g) Investment Properties Real Estate - - Investment in Housing & infrastructure sector (I) Approved Investments (a) Equity 23,61,602 19,44,355 (b) Others 1,45,38,724 61,31,166 (II) Other than Approved Investments (a) Equity 87,14,554 65,19,575 (b) Others - - Total 10,77,92,209 8,85,98,421 SHORT TERM INVESTMENTS Government securities and Government guaranteed bonds including Treasury Bills 26,05,012 27,85,086 Other Approved Securities - - Other Investments (a) Shares (aa) Equity - - (bb) Preference - - (b) Mutual Funds 31,63,808 9,13,926 (c) Derivative Instruments - - (d) Debentures/ Bonds 11,99,694 10,69,532 (e) Other Securities (including Fixed Deposits) 15,06,160 49,96,241 (f) Subsidiaries - - (g) Investment Properties Real Estate - - Investments in Infrastructure and Social Sector (I) Approved Investments (a) Equity Shares - - (b) Others 7,64,584 11,92,904 (II) Other than Approved Investments (a) Equity Shares - - (b) Others - - Net Current Assets 13,82,532 12,69,947 Total 1,06,21,790 1,22,27,636 Grand Total 11,84,13,999 10,08,26,057 Notes: Particulars June 30, 2017 June 30, 2016 (a) Investment in Holding Company - Kotak Mahindra Bank - - (b) Investment in Subsidiary, Joint Ventures, Fellow subsidiaries and Associates - Investment in unit of the funds of Kotak Mahindra Asset Management Company Ltd including uni 30,96,366 21,17,137 - Investment in Kotak Mahindra Prime Ltd in Debentures 13,55,261 16,49,873 (c) Investment made out of Catastrophe reserve - - (d) Particulars of Investment other than Listed Equity Securities:- - Cost 5,53,52,803 4,56,52,926 - Market Value 5,61,28,037 4,60,66,460 (e) The historical cost of those Investments whose reported valued is based on fair value is as given below - Reported Value - - - Historical Cost - - (f) Other Than Approved Investments (a) Equity includes Exchange Traded Funds 40,84,346 30,56,380 Page 16 of 60
FORM L-15-LOANS SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) Particulars June 30, 2017 June 30, 2016 SECURITY WISE CLASSIFICATION Secured (a) On mortgage of property (aa) In India 9,44,112 7,61,498 (bb) Outside India - - (b) On Shares, Bonds, Govt. Securities etc. - - (c) Loans against policies 2,07,634 2,02,809 (d) Others 3,00,000 4,00,000 Unsecured - - Total 14,51,746 13,64,307 BORROWER-WISE CLASSIFICATION (a) Central and State Governments - - (b) Banks and Financial Institutions 3,00,000 4,00,000 (c) Subsidiaries - - (d) Companies 9,44,112 7,61,498 (e) Loans against policies 2,07,634 2,02,809 (f) Others Employees - - Total 14,51,746 13,64,307 PERFORMANCE-WISE CLASSIFICATION (a) Loans classified as standard (aa) In India 14,51,746 13,64,307 (bb) Outside India - - (b) Non-standard loans less provisions (aa) In India - - (bb) Outside India - - Total 14,51,746 13,64,307 MATURITY-WISE CLASSIFICATION (a) Short term 6,04,553 4,06,296 (b) Long Term 8,47,193 9,58,011 Total 14,51,746 13,64,307 Commitments made and outstanding for Loans ` Nil ( 2016 - ` Nil) Notes: a) There was no restructuring of loan assets during the period. b) Short term loans include those loans which are repayable within 12 months from the date of Balance Sheet. Long term loans are the loans other than short term loans. Page 17 of 60
FORM L 16-FIXED ASSETS SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) Particulars Cost/ Gross Block Depreciation Net Block As on April 1 2017 Addition On Sale/ Adjustment June 30, 2017 As on April 1 2017 For the year On Sale/ Adjustment June 30, 2017 June 30, 2017 June 30, 2016 Goodwill - - - - - - - - - - Intangibles - Software * # 13,91,346 10,548 6 14,01,888 11,70,028 33,966 6 12,03,988 1,97,900 1,42,506 Land-Freehold - - - - - - - - - - Leasehold property - - - - - - - - - - Buildings - - - - - - - - - - Furniture and fittings ** 4,92,530 11,865 5,748 4,98,647 3,36,134 11,740 4,389 3,43,485 1,55,162 94,339 Information technology equipment 4,93,566 11,059 4,005 5,00,620 3,84,416 17,028 3,972 3,97,472 1,03,148 91,958 Vehicles 82,307 6,888 9,452 79,743 44,894 3,982 9,115 39,761 39,982 23,711 Office equipment 1,69,041 3,803 3,297 1,69,547 1,18,096 4,144 2,922 1,19,318 50,229 30,558 26,28,790 44,163 22,508 26,50,445 20,53,568 70,860 20,404 21,04,024 5,46,421 3,83,072 Capital Work-in-progress 61,166 58,886 Grand Total 26,28,790 44,163 22,508 26,50,445 20,53,568 70,860 20,404 21,04,024 6,07,587 4,41,958 Previous Year 22,46,967 46,282 5,349 22,87,900 18,55,335 54,842 5,349 19,04,828 4,41,958 * Includes licenses ** Includes leasehold improvements Check Page 18 of 60
FORM L-17-CASH AND BANK BALANCE SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) Particulars June 30, 2017 June 30, 2016 Cash (including cheques on hand, drafts and stamps) 3,11,906 1,06,327 Bank Balances (a) Deposit Accounts (aa) Short-term (due within 12 months of the date of Balance Sheet) - 46,939 (bb) Others - - (b) Current accounts 6,99,210 3,32,387 (c) Others - - Money at Call and Short Notice (a) With Banks - - (b) With other Institutions - - Total 10,11,116 4,85,653 Balance with non-scheduled banks included above - - Cash and Bank balance In India 10,11,116 4,85,653 Outside India - - Total 10,11,116 4,85,653 Page 19 of 60
FORM L-18-ADVANCE AND OTHER ASSETS SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) Particulars June 30, 2017 June 30, 2016 ADVANCES Reserve deposits with ceding companies - - Application money for investments 9,99,983 - Prepayments 1,27,143 1,10,363 Advance to Directors/ Officers - - Advance tax paid and T.D.S (Refer Note (a) below) 1,67,898 1,58,121 Others :- Advances to suppliers 99,110 1,33,933 Advances to employees 34,503 48,711 Total (A) 14,28,637 4,51,128 OTHER ASSETS Income accrued on investments 10,49,689 8,25,715 Outstanding Premiums 4,53,137 5,33,066 Agents Balances (Refer Note (b) below) 4,600 4,600 Foreign Agencies Balances - - Due from other entities carrying on insurance business (including reinsurers) 59,392 - Due from subsidiaries/ holding company - - Deposits pursuant to Section 7 of Insurance Act, 1938 - - Others :- Security and other deposits 3,47,341 3,26,689 Service Tax Unutilised Credit 1,603 1,06,079 Investment Income-Unclaimed 3,77,667 3,90,358 Other Receivables 1,67,011 2,74,879 Total (B) 24,60,440 24,61,386 Total (A + B) 38,89,077 29,12,514 Notes : (a) - Advance tax paid and Taxes deducted at source Particulars June 30, 2017 June 30, 2016 Provision for Tax (4,44,535) (40,544) Advance Tax and Tax deducted at source 6,12,433 1,98,665 1,67,898 1,58,121 (b) - Agent balances Particulars June 30, 2017 June 30, 2016 Commission receivable 50,651 48,123 Provision for commission receivable (46,051) (43,523) Net 4,600 4,600 Page 20 of 60
FORM L-19-CURRENT LIABILITIES SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) Particulars June 30, 2017 June 30, 2016 Agents balances 22,891 1,28,305 Balance due to other insurance companies (net) 1,89,096 1,52,666 Deposits held on re-insurance ceded - - Premium received in advance 74,993 35,537 Unallocated premium (proposals/policy deposits) 13,52,486 9,95,558 Sundry creditors 10,41,097 48,650 Due to holding company / Fellow Subsidiary 11,165 25,785 Claims outstanding 4,20,069 7,10,535 Unclaimed Amount of Policy Holders 3,77,667 3,90,359 Annuities due 2,755 1,501 Due to Officers / Directors - - Others:- - Expenses Payable 28,43,327 22,41,596 - Taxes deducted at source, payable 60,649 51,618 - Statutory dues payable 1,02,357 1,54,704 - Refunds Payable 1,07,954 83,878 - Security Deposit 58,448 35,310 - Payable towards investments purchased 4,34,904 3,88,732 - Payable / (Refund) to / from unit linked fund 67,039 (10,810) Total 71,66,897 54,33,924 Page 21 of 60
Particulars FORM L-20-PROVISIONS SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (Amounts in thousands of Indian Rupees) June 30, 2017 June 30, 2016 For taxation (less payments and taxes deducted at source) 2,03,149 1,69,275 For proposed dividend - - For dividend distribution tax - - Others :- Provision for gratuity - 12,587 Provision for compensated absences 1,56,484 1,20,064 Provision for employee benefits 23,684 14,543 Provision for standard loan assets 4,976 4,646 Total 3,88,293 3,21,115 (a) - Provision for taxes Particulars June 30, 2017 June 30, 2016 Provision for Tax 11,50,674 11,09,384 Advance Tax and Tax deducted at source (9,47,525) (9,40,109) 2,03,149 1,69,275 Page 22 of 60
Particulars FORM L-21-MISC EXPENDITURE SCHEDULE KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Registration No: 107; Date of Registration: January 10, 2001 SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS (To the extent not written off or adjusted) (Amounts in thousands of Indian Rupees) June 30, 2017 June 30, 2016 Discount Allowed in issue of shares/ debentures - - Others - - Total - - Page 23 of 60
PERIODIC DISCLOSURES FORM L-22 - Analytical Ratios* Insurer: KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LIMITED Date: 30-Jun-17 Sl.No. 1 Particular New business premium income growth rate - segment wise (Number of times) For the quarter ended June 30,2017 Upto the quarter ended June 30,2017 For the quarter ended June 30,2016 Upto the quarter ended June 30,2016 Life Participating 1.42 1.42 1.62 1.62 Pension Participating 0.83 0.83 - - Life Non Participating 0.87 0.87 1.19 1.19 Life Non Participating Variable (VIP) 5.43 5.43 0.08 0.08 Pension Non Participating Variable (VIP) 0.07 0.07 2.83 2.83 General Annuity 2.86 2.86 1.22 1.22 Unit Linked Life 1.29 1.29 1.45 1.45 Unit Linked Pension 31.61 31.61 0.12 0.12 2 Net Retention Ratio 97.38% 97.38% 97.49% 97.49% 3 Expense of Management to Gross Direct Premium Ratio 28.34% 28.34% 29.83% 29.83% 4 Commission Ratio (Gross commission paid to Gross Premium) 4.36% 4.36% 4.68% 4.68% 5 Ratio of policy holder's liabilities to shareholder's funds 1055.62% 1055.62% 1031.71% 1031.71% 6 Growth rate of shareholders' fund 20.07% 20.07% 19.54% 19.54% 7 Ratio of surplus to policyholders' liability 0.41% 0.41% 0.32% 0.32% 8 Change in net worth(` in 000') 30,96,639 30,96,639 25,22,165 25,22,165 9 Profit after tax/total Income 6.66% 6.66% 4.60% 4.60% 10 (Total real estate + loans)/(cash & invested assets) 1.50% 1.50% 1.17% 1.17% 11 Total investments/(capital + Surplus) 1163.19% 1163.19% 1138.61% 1138.61% 12 Total affiliated investments/(capital+ Surplus) 7.29% 7.29% 12.94% 12.94% 13 Investment Yield (Gross and Net) a) Without Unrealised Gains: Non Linked - Participating 8.05% 8.05% 9.89% 9.89% Non Linked - Non-Participating 8.12% 8.12% 8.65% 8.65% Sub Total : Non Linked 8.09% 8.09% 9.25% 9.25% Linked - Participating NA NA NA NA Linked - Non Participating 10.63% 10.63% 10.34% 10.34% Sub Total : Linked 10.63% 10.63% 10.34% 10.34% Grand Total : Non Linked + Linked 8.18% 8.18% 9.30% 9.30% Shareholders' Fund 7.63% 7.63% 8.24% 8.24% b) With Unrealised Gains: Non Linked - Participating 15.85% 15.85% 18.03% 18.03% Non Linked - Non-Participating 16.42% 16.42% 16.79% 16.79% Sub Total : Non Linked 16.16% 16.16% 17.40% 17.40% Linked - Participating NA NA NA NA Linked - Non Participating 13.75% 13.75% 13.49% 13.49% Sub Total : Linked 13.75% 13.75% 13.49% 13.49% Grand Total : Non Linked + Linked 16.07% 16.07% 17.23% 17.23% Shareholders' Fund 19.69% 19.69% 14.89% 14.89% 14 Conservation Ratio Life Participating 80.92% 80.92% 84.79% 84.79% Pension Participating 100.96% 100.96% 94.59% 94.59% Life Non Participating 97.23% 97.23% 80.46% 80.46% Life Non Participating Variable (VIP) 78.71% 78.71% NA NA Pension Non Participating Variable (VIP) NA NA NA NA General Annuity NA NA NA NA Unit Linked Life 89.27% 89.27% 84.86% 84.86% Unit Linked Pension 102.34% 102.34% 79.74% 79.74% 15 Persistency Ratio# Persistency Ratio (By Premium) For 13th month 81.71% 84.21% 78.73% 83.00% For 25th month 69.28% 75.09% 70.81% 75.22% For 37th month 67.33% 70.85% 63.57% 72.15% For 49th month 62.17% 69.97% 58.74% 70.81% For 61st month 54.45% 62.29% 58.50% 51.78% Persistency Ratio (By Premium) - Reducing Balance Method For 13th month 81.71% 84.21% 78.73% 83.00% For 25th month 81.93% 88.68% 85.03% 89.42% For 37th month 88.54% 91.74% 86.71% 91.71% For 49th month 91.38% 95.03% 88.84% 95.29% For 61st month 88.53% 86.88% 85.69% 86.33% 16 NPA Ratio Gross NPA Ratio Nil Nil Nil Nil Net NPA Ratio Nil Nil Nil Nil Equity Holding Pattern for Life Insurers 1 (a) No. of shares 51,02,90,249 51,02,90,249 51,02,90,249 51,02,90,249 2 (b) Percentage of shareholding (Indian / Foreign) 74%/26% 74%/26% 74%/26% 74%/26% 3 ( c) %of Government holding (in case of public sector insurance companies) N.A N.A N.A N.A 4 (a) Basic and diluted EPS before extraordinary items (net of tax expense) for the period (not to be annualized) 0.55 0.55 0.42 0.42 5 (b) Basic and diluted EPS after extraordinary items (net of tax expense) for the period (not to be annualized) 0.55 0.55 0.42 0.42 6 (iv) Book value per share (Rs) 36.31 36.31 30.24 30.24 Note: # The persistency ratios reported are in accordance with the revised circular IRDA/ACT/CIR/MISC/035/01/2014 dated January 23, 2014. Group business policies are excluded in the calculation of the persistency ratio. The premium persistency ratio allows for lapses, surrenders, Paid ups as well as premium reductions and is expressed in terms of annualised premiums. Prior period's figures have been regrouped / reclassified wherever necessary Page 24 of 60