Form No Description Pages - Max Life Insurance...Form No Description Pages L-24 VALUATION OF NET LIABILITIES 2 L-25 GEOGRAPHICAL DISTRIBUTION OF BUSINESS- GROUP & INDIVIDUAL 3-6 L-26

Form No Description PagesL-24 VALUATION OF NET LIABILITIES 2

L-25 GEOGRAPHICAL DISTRIBUTION OF BUSINESS- GROUP & INDIVIDUAL 3-6

L-26 INVESTMENT ASSETS 7-8

L-27 ULIP LINKED BSNS 9-13

L-28 ULIP NAV 14

L-29 DEBT SECURITIES 15

L-30 RELATED PARTY TRANSACTIONS 16

L-31 BOARD OF DIRECTORS 17

L-32 SOLVENCY MARGIN 18

L-33 NPAs 19-21

L-34 YIELD ON INVESTMENT 22-24

L-35 DOWNGRADING OF INVESTMENT 25-27

L-36 BSNS NUMBERS 28-29

L-37 BSNS ACQUSITION (GROUP) 30

L-38 BSNS ACQUSITION (INDIVIUDAL) 31

L-39 CLAIMS AGEING 32-33

L-40 CLAIMS DATA 34-35

L-41 GRIEVANCES (LIFE) 36-37

L-42 VALUATION BASIS (LIFE) 38-40

NAME OF THE INSURER: MAX LIFE INSURANCE COMPANY LIMITED

IRDAI REGISTRATION NO. 104 DATED NOVEMBER 15, 2000

Other Disclosures For The Period Ended June 30, 2020

Page 1 of 40

PERIODIC DISCLOSURES

FORM L-24 VALUATION OF NET LIABILITIES


REGISTRATION NO 104: DATE OF REGISTRATION WITH IRDAI : NOVEMBER 15, 2000

Amount( In lacs) Amount( In lacs)

S.No. Particulars As at June 30, 2020 As at March 31, 2020

1 Linked

a Life 1,945,343 1,733,979

b General Annuity - -

c Pension 192,918 182,437

d Health - -

2 Non-Linked

a Life 4,697,687 4,507,264

b General Annuity 38,116 31,795

c Pension 6,795 7,163

d Health 1,863 1,853

Valuation of net liabilities

Page 2 of 40


FORM L-25- (I) : GEOGRAPHICAL DISTRIBUTION CHANNEL - INDIVIDUAL


REGISTRATION NO. 104 DATED NOVEMBER 15, 2000

Upto the quarter ending June 30, 2020

No. of Policies No. of Lives Premium (Rs

Crs)

Sum Assured

(Rs Crs)No. of Policies No. of Lives

Premium (Rs

Crs)

Sum Assured


Premium (Rs

Crs)

Sum Assured

(Rs Crs)

1 Andhra Pradesh 1,492 1,475 8.67 489.95 3,026 2,971 23.07 1,148 4,518 4,446 31.73 1,637.73

2 Arunachal Pradesh 38 38 0.43 10.31 40 38 0.43 8.98 78 76 0.85 19.29

3 Assam 692 663 4.83 101.61 1,052 997 8.89 179.21 1,744 1,660 13.72 280.82

4 Bihar 1,218 1,183 8.35 228.28 1,231 1,183 9.92 315.16 2,449 2,366 18.27 543.44

5 Chattisgarh 781 755 4.89 169.96 935 907 7.70 269.63 1,716 1,662 12.59 439.59

6 Goa 167 164 1.17 32.69 536 509 9.65 140.33 703 673 10.81 173.02

7 Gujarat 1,974 1,934 12.16 436.44 4,628 4,447 56.09 1,300.51 6,602 6,381 68.25 1,736.96

8 Haryana 4,226 4,173 16.37 2,422.53 22,652 22,424 69.11 17,561.86 26,878 26,597 85.49 19,984.39

9 Himachal Pradesh 290 285 1.85 79.80 331 315 2.32 100.08 621 600 4.17 179.88

10 Jammu & Kashmir 166 158 0.82 17.48 423 412 2.59 80.28 589 570 3.41 97.76

11 Jharkhand 747 731 4.86 173.82 1,146 1,103 10.30 348.24 1,893 1,834 15.16 522.06

12 Karnataka 1,914 1,871 9.35 598.81 4,129 4,016 36.87 1,685.74 6,043 5,887 46.22 2,284.56

13 Kerala 693 677 6.02 137.09 1,990 1,897 30.09 423.49 2,683 2,574 36.10 560.57

14 Madhya Pradesh 1,064 1,045 4.99 224.13 2,036 1,985 14.14 631.66 3,100 3,030 19.13 855.78

15 Maharashtra 3,432 3,369 18.10 1,335.71 10,326 9,936 92.37 4,545.31 13,758 13,305 110.48 5,881.03

16 Manipur 117 115 0.92 14.97 169 163 1.14 25.54 286 278 2.06 40.52

17 Meghalaya 48 48 0.32 7.77 70 63 0.80 14.16 118 111 1.12 21.93

18 Mizoram 6 6 0.03 1.70 53 52 0.50 17.53 59 58 0.53 19.23

19 Nagaland 107 102 0.84 16.76 175 171 1.36 31.75 282 273 2.20 48.52

20 Odisha 2,004 1,956 11.88 268.00 1,659 1,593 12.50 287.17 3,663 3,549 24.38 555.17

21 Punjab 2,097 2,057 13.46 383.96 2,807 2,735 20.01 936.28 4,904 4,792 33.47 1,320.25

22 Rajasthan 1,120 1,106 6.41 382.10 2,406 2,340 18.11 1,000.36 3,526 3,446 24.52 1,382.46

23 Sikkim 101 99 0.86 15.41 157 152 1.26 20.89 258 251 2.13 36.30

24 Tamil Nadu 1,765 1,728 9.17 497.93 4,348 4,193 38.85 1,410.49 6,113 5,921 48.01 1,908.42

25 Telangana 376 371 1.62 177.63 829 809 11.10 424.04 1,205 1,180 12.71 601.67

26 Tripura 61 60 0.40 6.54 174 167 1.61 25.83 235 227 2.01 32.37

27 Uttar Pradesh 2,451 2,399 13.94 740.13 6,762 6,465 46.29 2,614.47 9,213 8,864 60.23 3,354.60

28 Uttarakhand 432 418 2.49 92.73 965 937 7.09 346.34 1,397 1,355 9.58 439.07

29 West Bengal 3,264 3,140 23.40 537.93 6,584 6,134 71.12 1,255.19 9,848 9,274 94.52 1,793.12

30 Andaman & Nicobar Islands 11 8 0.07 0.89 30 30 0.30 4.18 41 38 0.37 5.06

31 Chandigarh 103 101 0.49 27.53 520 505 3.94 186.39 623 606 4.43 213.92

32 Dadra & Nagrahaveli 13 13 0.08 2.57 11 11 0.06 3.66 24 24 0.13 6.23

33 Daman & Diu 8 8 0.06 3.02 9 9 0.07 2.72 17 17 0.13 5.75

34 Delhi 643 627 3.72 251.29 6,193 5,986 56.14 2,770.54 6,836 6,613 59.87 3,021.83

35 Lakshadweep - - - - - - - - - - - -

36 Puducherry 31 30 0.14 5.76 99 96 0.82 21.09 130 126 0.96 26.85

Company Total 33,652 32,913 193.14 9,893.25 88,501 85,751 666.59 40,136.91 122,153 118,664 859.73 50,030.15 *Premium amount is Total New Business premium only.

SI.No. State / Union Territory

Rural Urban Total Business

Page 3 of 40


FORM L-25- (I) : GEOGRAPHICAL DISTRIBUTION CHANNEL - INDIVIDUAL





Crs)

Sum Assured


Premium (Rs

Crs)

Sum Assured


Premium (Rs

Crs)

Sum Assured

(Rs Crs)

1 Andhra Pradesh 798 789 4.75 123.82 2,936 2,867 25.35 728.65 3,734 3,656 30.10 852.48

2 Arunachal Pradesh 6 6 0.11 1.12 39 39 0.74 7.38 45 45 0.85 8.50

3 Assam 543 526 3.31 50.00 1,216 1,174 9.80 154.21 1,759 1,700 13.11 204.20

4 Bihar 1,056 1,005 6.33 110.59 1,297 1,249 9.24 227.30 2,353 2,254 15.57 337.89

5 Chattisgarh 514 489 2.93 60.02 779 753 4.80 141.94 1,293 1,242 7.74 201.96

6 Goa 142 135 1.08 22.35 615 587 6.51 111.14 757 722 7.59 133.49

7 Gujarat 1,445 1,405 9.12 197.03 5,217 5,041 52.73 1,342.24 6,662 6,446 61.85 1,539.27

8 Haryana 3,093 3,040 15.18 1,535.79 18,387 18,252 66.67 13,325.60 21,480 21,292 81.85 14,861.39

9 Himachal Pradesh 255 251 1.45 39.53 307 300 1.98 62.43 562 551 3.43 101.95

10 Jammu & Kashmir 149 145 0.82 13.87 410 394 2.97 58.44 559 539 3.78 72.31

11 Jharkhand 491 482 3.31 56.49 999 958 8.04 177.59 1,490 1,440 11.35 234.09

12 Karnataka 1,291 1,262 7.94 202.46 3,209 3,105 31.45 901.89 4,500 4,367 39.40 1,104.34

13 Kerala 414 408 3.44 61.38 1,647 1,594 17.83 276.70 2,061 2,002 21.27 338.09

14 Madhya Pradesh 817 786 3.69 113.39 2,180 2,112 13.86 466.44 2,997 2,898 17.54 579.83

15 Maharashtra 2,515 2,446 14.40 757.38 12,906 12,416 103.49 5,566.69 15,421 14,862 117.89 6,324.07

16 Manipur 92 91 0.48 6.47 146 144 1.36 12.93 238 235 1.84 19.39

17 Meghalaya 32 31 0.20 2.47 55 53 0.70 8.10 87 84 0.90 10.58

18 Mizoram 3 3 0.02 0.27 37 34 0.48 5.62 40 37 0.50 5.88

19 Nagaland 62 61 0.75 7.94 139 130 2.25 23.87 201 191 3.01 31.81

20 Odisha 1,618 1,570 8.05 129.39 1,653 1,615 11.83 224.95 3,271 3,185 19.88 354.34

21 Punjab 1,895 1,861 12.10 184.07 2,687 2,620 21.89 484.98 4,582 4,481 33.99 669.05

22 Rajasthan 979 956 6.26 167.62 2,246 2,192 20.60 617.79 3,225 3,148 26.86 785.42

23 Sikkim 29 28 0.26 2.42 99 99 0.04 1.77 128 127 0.30 4.19

24 Tamil Nadu 1,146 1,113 6.98 159.74 4,470 4,343 39.99 1,124.09 5,616 5,456 46.97 1,283.83

25 Telangana 156 153 0.86 38.56 998 965 10.17 486.53 1,154 1,118 11.03 525.09

26 Tripura 84 78 0.48 8.34 165 160 1.09 16.36 249 238 1.57 24.70

27 Uttar Pradesh 2,252 2,189 13.14 307.56 6,735 6,470 50.44 1,587.77 8,987 8,659 63.58 1,895.33

28 Uttarakhand 512 493 2.88 57.15 1,095 1,054 8.71 249.28 1,607 1,547 11.59 306.43

29 West Bengal 3,152 2,984 20.61 289.29 7,222 6,779 67.59 897.14 10,374 9,763 88.20 1,186.43

30 Andaman & Nicobar Islands 7 7 0.06 0.42 23 23 0.16 2.09 30 30 0.21 2.51

31 Chandigarh 63 63 0.18 5.50 455 443 4.69 96.33 518 506 4.87 101.83

32 Dadra & Nagrahaveli 2 2 0.01 0.35 8 8 0.06 0.93 10 10 0.07 1.28

33 Daman & Diu 3 3 0.03 0.18 23 21 0.19 2.37 26 24 0.22 2.55

34 Delhi 375 364 2.43 62.32 6,714 6,379 73.77 1,729.87 7,089 6,743 76.20 1,792.18

35 Lakshadweep - - - - - - - - - - - -

36 Puducherry 16 16 0.05 1.62 92 90 0.60 23.48 108 106 0.65 25.10

Company Total 26,007 25,241 153.72 4,776.91 87,206 84,463 672.05 31,144.89 113,213 109,704 825.76 35,921.79 *Premium amount is Total New Business premium only.

SI.No. State / Union Territory


Page 4 of 40


FORM L-25- (II) : GEOGRAPHICAL DISTRIBUTION CHANNEL - GROUP





Crs)

Sum Assured


Premium (Rs

Crs)

Sum Assured


Premium (Rs

Crs)

Sum Assured

(Rs Crs)

1 Andhra Pradesh - - - - 1 454 0.10 81.78 1 454 0.10 81.78

2 Arunachal Pradesh - - - - - - - - - - - -

3 Assam - - - - - - - - - - - -

4 Bihar - - - - 1 62 0.01 4.65 1 62 0.01 4.65

5 Chattisgarh - - - - - - - - - - - -

6 Goa - - - - - - - - - - - -

7 Gujarat - - - - 15 6,525 0.56 808.81 15 6,525 0.56 808.81

8 Haryana - - - - 27 121,621 4.39 10,148.00 27 121,621 4.39 10,148.00

9 Himachal Pradesh - - - - - - - - - - - -

10 Jammu & Kashmir - - - - - - - - - - - -

11 Jharkhand - - - - - - - - - - - -

12 Karnataka - - - - 33 32,840 5.34 9,569.10 33 32,840 5.34 9,569.10

13 Kerala - - - - 2 2,408 0.10 137.99 2 2,408 0.10 137.99

14 Madhya Pradesh - - - - 3 9,649 0.17 152.09 3 9,649 0.17 152.09

15 Maharashtra - - - - 47 830,652 23.74 8,693.09 47 830,652 23.74 8,693.09

16 Manipur - - - - - - - - - - - -

17 Meghalaya - - - - - - - - - - - -

18 Mizoram - - - - - - - - - - - -

19 Nagaland - - - - - - - - - - - -

20 Odisha - - - - 1 163 0.02 21.76 1 163 0.02 21.76

21 Punjab - - - - 1 249 0.01 10.70 1 249 0.01 10.70

22 Rajasthan - - - - 2 964 0.16 101.17 2 964 0.16 101.17

23 Sikkim - - - - - - - - - - - -

24 Tamil Nadu - - - - 19 13,866 1.52 1,686.97 19 13,866 1.52 1,686.97

25 Telangana - - - - 30 14,860 1.60 2,260.50 30 14,860 1.60 2,260.50

26 Tripura - - - - - - - - - - - -

27 Uttar Pradesh - - - - 9 27,100 0.80 1,337.92 9 27,100 0.80 1,337.92

28 Uttarakhand - - - - 1 144 0.00 8.64 1 144 0.00 8.64

29 West Bengal - - - - 1 329 0.10 58.27 1 329 0.10 58.27

30 Andaman & Nicobar Islands - - - - - - - - - - - -

31 Chandigarh - - - - - - - - - - - -

32 Dadra & Nagrahaveli - - - - - - - - - - - -

33 Daman & Diu - - - - 1 1,304 0.09 71.45 1 1,304 0.09 71.45

34 Delhi - - - - 10 1,871 1.04 432.02 10 1,871 1.04 432.02

35 Lakshadweep - - - - - - - - - - - -

36 Puducherry - - - - - - - - - - - -

Company Total - - - - 204 1,065,061 39.73 35,584.91 204 1,065,061 39.73 35,584.91 *Premium amount is Total New Business premium only.

S.No. State / Union Territory


Page 5 of 40


FORM L-25- (II) : GEOGRAPHICAL DISTRIBUTION CHANNEL - GROUP





Crs)

Sum Assured


Premium (Rs

Crs)

Sum Assured


Premium (Rs

Crs)

Sum Assured

(Rs Crs)

1 Andhra Pradesh - - - - 41 12,917 0.03 771.20 41 12,917 0.03 771.20

2 Arunachal Pradesh - - - - - - - - - - - -

3 Assam - - - - 2 2,770 0.12 1,061.75 2 2,770 0.12 1,061.75

4 Bihar - - - - - - - - - - - -

5 Chattisgarh - - - - 2 11 (0.00) 0.68 2 11 (0.00) 0.68

6 Goa - - - - - - - - - - - -

7 Gujarat - - - - 8 2,391 0.14 144.58 8 2,391 0.14 144.58

8 Haryana - - - - 41 693,011 2.74 3,506.28 41 693,011 2.74 3,506.28

9 Himachal Pradesh - - - - - - - - - - - -

10 Jammu & Kashmir - - - - - - - - - - - -

11 Jharkhand - - - - - - - - - - - -

12 Karnataka - - - - 30 13,281 2.15 3,080.52 30 13,281 2.15 3,080.52

13 Kerala - - - - 3 488 0.01 1.57 3 488 0.01 1.57

14 Madhya Pradesh - - - - - - - - - - - -

15 Maharashtra - - - - 82 561,835 73.30 9,044.11 82 561,835 73.30 9,044.11

16 Manipur - - - - - - - - - - - -

17 Meghalaya - - - - - - - - - - - -

18 Mizoram - - - - - - - - - - - -

19 Nagaland - - - - - - - - - - - -

20 Odisha - - - - - - - - - - - -

21 Punjab - - - - - - - - - - - -

22 Rajasthan - - - - 15 1,572 0.53 124.15 15 1,572 0.53 124.15

23 Sikkim - - - - - - - - - - - -

24 Tamil Nadu - - - - 32 26,763 1.90 2,670.65 32 26,763 1.90 2,670.65

25 Telangana - - - - 28 6,725 1.19 2,440.74 28 6,725 1.19 2,440.74

26 Tripura - - - - - - - - - - - -

27 Uttar Pradesh - - - - 8 4,993 0.23 310.58 8 4,993 0.23 310.58

28 Uttarakhand - - - - - - - - - - - -

29 West Bengal - - - - 3 1,094 0.06 46.35 3 1,094 0.06 46.35

30 Andaman & Nicobar Islands - - - - - - - - - - - -

31 Chandigarh - - - - - - - - - - - -

32 Dadra & Nagrahaveli - - - - - - - - - - - -

33 Daman & Diu - - - - - - - - - - - -

34 Delhi - - - - 27 11,589 2.63 3,009.28 27 11,589 2.63 3,009.28

35 Lakshadweep - - - - - - - - - - - -

36 Puducherry - - - - - - - - - - - -

Company Total - - - - 322 1,339,440 85.03 26,212.44 322 1,339,440 85.03 26,212.44 *Premium amount is Total New Business premium only.

S.No. State / Union Territory


Page 6 of 40


L-26-INVESTMENT ASSETS - 3A PART A


REGISTRATION NO: 104; DATE OF REGISTRATION WITH IRDA : NOVEMBER 15, 2000

STATEMENT AS ON: June 30, 2020

Section I In Rs Crores Reconciliation of Investment Assets In Rs Crores

No Particulars SCH Amount Particulars Amount

1 Investments (Shareholders) 8 3,273 Total Investment Assets as per Balance Sheet 73,239

Investments (Policyholders) 8A 48,583

Investments (Linked Liabilities) 8B 21,383 Balance Sheet Value of :

2 Loans 9 447 A. Life Fund 50,406

3 Fixed Assets 10 221 B. Pension & General Annuity Fund 1,450

4 Current Assets C. Unit Linked Funds 21,383

a. Cash & Bank Balance 11 333

b. Advances & Other Assets 12 1,878

5 Current Liabilities

a. Current Liabilities 13 (1,622)

b. Provisions 14 (79)

c. Misc. Exp not Written Off 15 -

d. Debit Balance of P&L A/c -

Application of Funds as per Balance Sheet

TOTAL (A) 74,416

Less: Other Assets SCH Amount

1 Loans (if any) 9 447

2 Fixed Assets (if any) 10 221

3 Cash & Bank Balance (if any) 11 333

4 Advances & Other Assets (if any) 12 1,878

5 Current Liabilities 13 (1,622)

6 Provisions 14 (79)

7 Misc. Exp not Written Off 15 -

8 Investments held outside India -

9 Debit Balance of P&L A/c -

TOTAL (B) 1,177

Investment Assets (A-B) 73,239

Page 7 of 40


L-26-INVESTMENT ASSETS - 3A PART A




Section II

NON LINKED BUSINESS In Rs Crores

Balance FRSM+ UL-Non Unit Res PAR NON PAR

(a) (b) (c) (d) (e)(f)=

(a+b+c+d+e)

1 G. Sec Not less than

25% - 141 44 22,999 4,255 27,439 54.47% - 27,439 31,106

2 G. Sec or Other Approved Securities (incl 1 Above) Not less than

50% - 431 123 25,681 5,269 31,505 62.54% - 31,505 35,447

3 Investment Subject to Excposure Norms

a. Housing & Infrastructure

1. Approved Investments - 762 130 7,179 1,381 9,452 18.76% (13) 9,439 10,253

2. Other Investments - - - - - - 0.00% - - -

b. i) Approved Investments - 1,063 46 5,769 419 7,297 14.48% 105 7,402 7,472

ii) "Other Investments" not to exceed 15% - 1,025 - 1,089 7 2,120 4.21% (60) 2,061 1,926

TOTAL LIFE FUND 100% - 3,281 300 39,717 7,076 50,374 100.00% 33 50,406 55,098

PAR NON PAR

(a) (b) (c)=(a)+(b) (d) (e) (f)= (c)+(e) (g)

1 G. Sec 58 536 594 40.99% - 594 644

2 G. Sec or Other Approved Securities (incl 1 Above) 68 834 902 62.30% - 902 973

3 Investment Subject to Excposure Norms 34 512 546 37.70% 2 548 583

TOTAL PENSION , GENERAL ANNUITY FUND 102 1,347 1,448 100.00% 2 1,450 1,556

LINKED BUSINESS

PAR NON PAR

(a) (b) (c)=(a)+(b) (d)

1 Approved Investment - 19,695 19,695 92.11%

2 Other Investments - 1,688 1,688 7.89%

TOTAL LINKED INSURANCE FUND - 21,383 21,383 100.00%

CERTIFICATION

Certified that the information given herein are correct, complete, and nothing has been concealed or suppresse, to the best of my knowledge and belief.

DATE: 21st July, 2020 Signature: sd/-

Full Name: Prashant Tripathy / Mihir Vora

Designation: Chief Executive Officer/ Chief Investment Officer

Note: 1. (+) FRSM refers to 'Funds Representing Solvency Margin'.

2. Funds beyond Solvency Margin shall have a separate Custody Account.

3. Other Investments are as permitted under Section 27A(2) of Insurance Act, 1938 as amended from time to time.

4. Pattern of Investments is applicable to both Shareholders funds representing solvency margin and policyholders funds.

5. Exposure norms shall apply to Funds held beyond Solvency Margin, held in a separate custody account.

A. LIFE FUND % as per Reg

SH PH Book Value

(SH+PH)

B. PENSION AND GENERAL ANNUITY FUND % as per Reg

PH Book

Value Actual %

Not exceeding 60%

FVC

AmountTotal Fund

Market

Value

Not less than

15%

Not

exceeding

35%

Actual %

FVC Amount Total FundMarket

Value

Not less than 20%

Not less than 40%

100%

100%

C. LINKED FUNDS % as per Reg

PH

Not less than 75%

Not exceeding 25%

Total Fund Actual %

Page 8 of 40


FORM L-27- UNIT LINKED - 3A PART B




In Rs Crores

Opening Balance (Market Value) 97 356 10 48 200 315 547

Add: Inflow During the Quarter 2 6 0 2 3 11 34

Increase / (Decrease) Value of Inv. (Net) 9 34 0 2 31 17 41

Less: Outflow during the Quarter 9 31 0 4 11 22 41

TOTAL INVESTIBLE FUNDS (MKT VALUE) 99 365 10 47 223 321 581

Investment Of Unit Fund

Actual Inv. % Actual Actual Inv. % Actual Actual Inv. % Actual Actual Inv. % Actual Actual Inv. % Actual Actual Inv. % Actual Actual Inv. % Actual

Approved Investments (>=75%)

Central Govt Securities 32 32.73% 96 26.33% 6 61.46% 25 54.06% - 0.00% 145 45.23% 176 30.37%

State Government Securities 0 0.48% 1 0.20% 0 1.47% 1 1.41% - 0.00% 1 0.16% 1 0.09%

Other Approved Securities - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

Corporate Bonds 5 5.02% 10 2.77% 0 3.37% 4 9.01% - 0.00% 19 5.84% 27 4.58%

Infrastructure Bonds 18 18.60% 25 6.86% 2 24.03% 11 24.33% - 0.00% 59 18.48% 71 12.20%

Equity 25 25.58% 172 47.20% 1 9.37% - 0.00% 184 82.32% 45 14.05% 196 33.76%

Money Market Instruments 11 10.90% 35 9.59% 0 1.50% 1 2.93% 10 4.70% 40 12.45% 76 13.11%

Mutual funds - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

Deposit with Banks - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

Sub Total (A) 92 93.32% 339 92.95% 10 101.20% 43 91.76% 194 87.02% 308 96.21% 546 94.11%

Current Assets:

Accrued Interest 1 1.50% 3 0.93% 0 2.27% 1 2.09% 0 0.00% 5 1.42% 7 1.21%

Dividend Receivable - 0.00% 0 0.04% 0 0.01% - 0.00% 0 0.08% 0 0.01% 0 0.04%

Bank Balance 0 0.00% 0 0.05% 0 0.03% 0 0.00% 0 0.08% 0 0.02% 0 0.04%

Receivable for Sale of Investments 0 0.49% 3 0.87% 0 0.95% 1 1.22% 4 1.66% 2 0.62% 7 1.28%

Other Current Assets (for Investments) - 0.00% 1 0.17% 0 0.28% - 0.00% 1 0.28% 0 0.02% 1 0.11%

Less: Current Liabilities

Payable for Investments - 0.00% 4 1.00% 0 0.60% 0 0.00% 4 1.63% 1 0.19% 4 0.63%

Other current liabilites (for Investments) 2 1.99% 7 1.98% 1 5.29% 1 1.10% 2 0.71% 2 0.69% 3 0.49%

Fund Mgmt Charges Payable - 0.00% - 0.00% 0 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

Sub Total (B) (0) 0.00% (3) -0.91% (0) -2.36% 1 2.22% (1) -0.23% 4 1.20% 9 1.55%

Other Investments (<=25%)

Corporate Bonds 3 3.32% 15 4.17% - 0.00% 2 5.23% - 0.00% 5 1.65% 13 2.23%

Infrastructure Bonds 1 0.51% 0 0.07% 0 0.50% 0 0.80% - 0.00% 1 0.16% 0 0.06%

Equity 3 2.85% 10 2.70% 0 0.66% - 0.00% 9 4.04% 3 0.78% 12 2.05%

Money Market - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

Others - 0.00% 4 1.03% - 0.00% - 0.00% 20 9.17% - 0.00% - 0.00%

Sub Total (C) 7 6.68% 29 7.96% 0 1.16% 3 6.03% 30 13.21% 8 2.59% 25 4.34%

Total (A+B+C ) 99 100.00% 365 100.00% 10 100.00% 47 100.00% 223 100.00% 321 100.00% 581 100.00%

Fund Carried Forward (as per LB 2) 99 100.00% 365 100.00% 10 100.00% 47 100.00% 223 100.00% 321 100.00% 581 100.00%

DATE: 21st July, 2020

1. The aggregate of all the above Segregated Unit Fund should tally with item C of

Form 3A (Part A) , for both Par & Non Par Business.

2. Details of item 12 of Form LB 2 of IRDA ( Actuarial Report ) Regulation ,2000 shall

be reconciled with FORM 3A ( Part B).

3. Other Investment are as permitted under Sec 27 A (2) and 27 B(3).

4. Group Superannuation Growth Fund & Group Superannuation Balanced fund have

no active policyholders as on reporting date.

Particulars

Pension Balanced Fund Pension Growth FundPension Conservative

FundPension Secured Fund Pension Growth Super Fund Pension Preserver Pension Maximiser

ULIF00625/11/05PENSB

ALANC104

ULIF00525/11/05PENSG

ROWTH104

ULIF00725/11/05PENSCO

NSER104

ULIF00825/11/05PENSS

ECURE104

ULIF01213/08/07PENSGRWS

UP104

ULIF01815/02/13PENSP

RESER104

ULIF01715/02/13PENSM

AXIMI104

Pension Balanced Fund Pension Growth FundPension Conservative

FundPension Secured Fund Pension Growth Super Fund Pension Preserver Pension Maximiser

Page 9 of 40






Opening Balance (Market Value)

Add: Inflow During the Quarter

Increase / (Decrease) Value of Inv. (Net)

Less: Outflow during the Quarter

TOTAL INVESTIBLE FUNDS (MKT VALUE)



Central Govt Securities

State Government Securities

Other Approved Securities

Corporate Bonds

Infrastructure Bonds

Equity

Money Market Instruments

Mutual funds

Deposit with Banks

Sub Total (A)

Current Assets:

Accrued Interest

Dividend Receivable

Bank Balance

Receivable for Sale of Investments

Other Current Assets (for Investments)


Payable for Investments

Other current liabilites (for Investments)

Fund Mgmt Charges Payable

Sub Total (B)


Corporate Bonds


Equity

Money Market

Others

Sub Total (C)

Total (A+B+C )

Fund Carried Forward (as per LB 2)









Particulars

In Rs Crores In Rs Crores

162 1,734 39 16 23 - -

40 98 0 0 - - -

2 135 2 1 1 - -

12 131 1 0 1 - -

192 1,837 40 17 23 - -


141 73.37% 622 33.87% 13 31.66% 3 16.03% 11 46.53% - 0.00% - 0.00%

19 9.89% 22 1.20% 2 5.08% 1 8.79% 5 21.26% - 0.00% - 0.00%

- 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

- 0.00% 65 3.53% 4 8.70% 0 1.97% 1 5.25% - 0.00% - 0.00%

- 0.00% 187 10.19% 8 20.23% 3 19.05% 2 10.19% - 0.00% - 0.00%

- 0.00% 623 33.93% 9 22.26% 8 44.76% - 0.00% - 0.00% - 0.00%

24 12.63% 198 10.78% 3 8.22% 1 4.07% 2 10.03% - 0.00% - 0.00%

- 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

- 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

184 95.89% 1,718 93.51% 39 96.14% 16 94.67% 22 93.26% - 0.00% - 0.00%

1 0.36% 18 1.00% 0 1.15% 0 0.98% 0 1.82% - 122.28% - 363.12%

- 0.00% 1 0.03% 0 0.02% 0 0.04% - 0.00% - 0.85% - 0.00%

0 0.00% 1 0.04% 0 0.05% 0 0.11% 0 0.00% - 18.00% - -260.94%

- 0.00% 17 0.95% 1 1.62% 0 2.43% - 0.00% - 0.00% - 0.00%

7 3.74% 9 0.50% 0 0.56% 0 1.13% - 0.00% - -33.97% - 0.00%

-

- 0.00% 12 0.63% 0 1.22% 0 2.50% 0 0.00% - 0.00% - 0.00%

0 0.00% 17 0.92% 0 0.03% 0 0.01% 0 0.11% - 6.79% - 1.79%

- 0.00% - 0.00% - 0.00% 0 0.00% - 0.00% - 0.37% - 0.39%

8 4.11% 18 0.96% 1 2.15% 0 2.19% 0 1.71% - 100.00% - 100.00%

- 0.00% 39 2.13% - 0.00% - 0.00% 1 5.04% - 0.00% - 0.00%

- 0.00% 2 0.11% 0 0.12% 0 0.03% - 0.00% - 0.00% - 0.00%

- 0.00% 36 1.97% 1 1.58% 1 3.11% - 0.00% - 0.00% - 0.00%

- 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

- 0.00% 24 1.32% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

- 0.00% 102 5.53% 1 1.70% 1 3.14% 1 5.04% - 0.00% - 0.00%

192 100.00% 1,837 100.00% 40 100.00% 17 100.00% 23 100.00% (0) 100.00% (0) 100.00%

192 100.00% 1,837 100.00% 40 100.00% 17 100.00% 23 100.00% (0) 100.00% (0) 100.00%

Discontinuance Policy Fund

PensionTotal Pension Group Gratuity Balanced fund

Group Gratuity Growth

fund

Group Gratuity

Conservative Fund

Group Superannuation

Balanced Fund


Growth Fund

ULIF01912/08/13PENSDISCO

N104

ULGF00217/04/06GRATBALA

NC104

ULGF00117/04/06GRAT

GROWTH104

ULGF00317/04/06GRAT

CONSER104

ULGF00523/01/07SANN

BALANC104

ULGF00423/01/07SANN

GROWTH104


PensionTotal Pension Group Gratuity Balanced fund

Group Gratuity Growth

fund

Group Gratuity

Conservative Fund


Balanced Fund


Growth Fund

Page 10 of 40
















Corporate Bonds


Equity


Mutual funds

Deposit with Banks

Sub Total (A)

Current Assets:

Accrued Interest

Dividend Receivable

Bank Balance







Sub Total (B)


Corporate Bonds


Equity

Money Market

Others

Sub Total (C)

Total (A+B+C )










Particulars


2 11 90 2,892 6,013 215 728

0 0 0 130 271 9 42

0 0 5 203 542 10 33

0 1 3 128 258 8 23

2 10 92 3,097 6,567 226 780


1 54.20% 5 45.73% 32 34.49% 1,204 38.87% 1,575 23.98% 133 59.07% 415 53.19%

0 16.73% 0 3.16% 9 9.87% 34 1.08% 77 1.17% 2 1.04% 18 2.36%

- 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

- 0.00% 1 10.20% 6 6.60% 101 3.27% 168 2.55% 5 2.17% 57 7.33%

0 13.58% 2 21.99% 16 17.53% 535 17.26% 903 13.74% 32 14.05% 238 30.54%

- 0.00% - 0.00% 17 17.93% 816 26.34% 2,802 42.67% 20 8.86% - 0.00%

0 13.66% 2 16.80% 8 8.95% 170 5.49% 321 4.89% 14 6.24% 4 0.53%

- 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

- 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

2 98.17% 10 97.87% 88 95.36% 2,859 92.31% 5,845 89.01% 206 91.43% 733 93.96%

0 1.34% 0 1.33% 1 1.31% 50 1.60% 79 1.20% 5 2.07% 19 2.45%

- 0.00% - 0.00% 0 0.02% 1 0.02% 3 0.04% 0 0.01% - 0.00%

0 0.01% 0 0.00% 0 0.05% 1 0.04% 3 0.04% 0 0.02% 0 0.00%

- 0.00% - 0.00% 1 1.15% 56 1.80% 174 2.66% 5 2.28% 27 3.52%

0 0.00% 0 0.00% 0 0.45% 3 0.09% 8 0.12% 1 0.27% 0 0.02%

- 0.00% - 0.00% 1 0.99% 34 1.09% 110 1.68% 1 0.49% 20 2.57%

- 0.00% - 0.00% 0 0.05% 7 0.22% 6 0.09% 0 0.02% 0 0.06%

- 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% 0 0.00%

0 1.35% 0 1.33% 2 1.94% 70 2.25% 150 2.28% 9 4.14% 26 3.36%

- 0.00% - 0.00% 1 1.28% 105 3.37% 264 4.02% 8 3.63% 17 2.18%

0 0.48% 0 0.80% 0 0.15% 4 0.12% 25 0.37% 0 0.17% 4 0.50%

- 0.00% - 0.00% 1 1.26% 60 1.94% 173 2.63% 1 0.63% - 0.00%

- 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

- 0.00% - 0.00% - 0.00% - 0.00% 111 1.69% - 0.00% - 0.00%

0 0.48% 0 0.80% 2 2.70% 168 5.44% 572 8.71% 10 4.43% 21 2.68%

2 100.00% 10 100.00% 92 100.00% 3,097 100.00% 6,567 100.00% 226 100.00% 780 100.00%

2 100.00% 10 100.00% 92 100.00% 3,097 100.00% 6,567 100.00% 226 100.00% 780 100.00%

Total Group Fund Balanced Fund Growth Fund Conservative Fund Secured FundGroup Superannuation

Conservative Fund

Group Gratuity Bond

Fund

ULGF00707/02/13GRAT

PLBOND104

ULIF00225/06/04LIFEBA

LANC104

ULIF00125/06/04LIFEGR

OWTH104

ULIF00325/06/04LIFECONSE

R104

ULIF00425/06/04LIFESE

CURE104

ULGF00623/01/07SANNCON

SER104

Balanced Fund Growth Fund Conservative Fund Secured FundGroup Superannuation

Conservative Fund

Group Gratuity Bond

FundTotal Group Fund

Page 11 of 40
















Corporate Bonds


Equity


Mutual funds

Deposit with Banks

Sub Total (A)

Current Assets:

Accrued Interest

Dividend Receivable

Bank Balance







Sub Total (B)


Corporate Bonds


Equity

Money Market

Others

Sub Total (C)

Total (A+B+C )










Particulars


1 4 4,510 310 625 11 451

0 0 458 52 14 0 125

0 0 731 53 59 0 19

0 (0) 202 14 44 1 211

1 4 5,498 400 653 11 385


1 71.17% 2 57.90% - 0.00% - 0.00% 200 30.57% - 0.00% 240 62.30%

0 0.14% 0 7.68% - 0.00% - 0.00% 5 0.84% - 0.00% 5 1.36%

- 0.00% 0 0.26% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

0 3.95% 0 2.75% 0 0.00% - 0.00% 6 0.96% - 0.00% 20 5.24%

- 0.00% - 0.00% - 0.00% - 0.00% 62 9.46% - 0.00% 105 27.26%

0 4.27% 1 13.42% 4,498 81.81% 318 79.45% 300 45.90% - 0.00% - 0.00%

0 18.78% 1 16.45% 112 2.04% 18 4.44% 16 2.38% 11 102.63% 2 0.50%

- 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

- 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

1 98.31% 4 98.45% 4,610 83.85% 336 83.89% 589 90.10% 11 102.63% 372 96.67%

0 1.23% 0 1.15% 0 0.00% 0 0.00% 8 1.15% 0 0.00% 8 2.07%

0 0.00% 0 0.01% 5 0.09% 0 0.06% 0 0.04% - 0.00% - 0.00%

0 0.03% 0 0.02% 3 0.06% 0 0.00% 0 0.04% 0 0.00% 0 0.00%

0 0.33% 0 0.82% 194 3.52% 19 4.65% 15 2.35% - 0.00% - 0.00%

0 0.11% 0 0.42% 32 0.59% 8 2.00% 1 0.17% 0 0.00% 1 0.14%

0 0.23% 0 0.84% 56 1.01% 5 1.18% 9 1.42% - 0.00% - 0.00%

0 0.02% 0 0.99% 0 0.00% 0 0.00% 3 0.50% 0 2.63% 3 0.86%

- 0.00% 0 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

0 1.45% 0 0.60% 179 3.25% 22 5.54% 12 1.83% (0) -2.63% 5 1.36%

- 0.00% - 0.00% - 0.00% - 0.00% 30 4.64% - 0.00% 7 1.77%

- 0.00% - 0.00% - 0.00% - 0.00% 4 0.57% - 0.00% 1 0.19%

0 0.24% 0 0.95% 260 4.73% 37 9.29% 19 2.85% - 0.00% - 0.00%

- 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

- 0.00% - 0.00% 449 8.17% 5 1.29% - 0.00% - 0.00% - 0.00%

0 0.24% 0 0.95% 709 12.90% 42 10.57% 53 8.07% - 0.00% 8 1.97%

1 100.00% 4 100.00% 5,498 100.00% 400 100.00% 653 100.00% 11 100.00% 385 100.00%

1 100.00% 4 100.00% 5,498 100.00% 400 100.00% 653 100.00% 11 100.00% 385 100.00%

Money Market Fund Secure Plus FundGuaranteed Fund-Income Guaranteed Fund-

DynamicGrowth Super Fund High Growth Fund

Dynamic Opportunity

Fund

ULIF00904/10/06AMSRG

UAINC104

ULIF01004/10/06AMSRG

UADYN104

ULIF01108/02/07LIFEGR

WSUP104

ULIF01311/02/08LIFEHIGHG

R104

ULIF01425/03/08LIFEDY

NOPP104

ULIF01528/04/09LIFEMO

NEYM104

ULIF01628/04/09LIFESE

CPLS104

Guaranteed Fund-Income Guaranteed Fund-

DynamicGrowth Super Fund High Growth Fund

Dynamic Opportunity

FundMoney Market Fund Secure Plus Fund

Page 12 of 40
















Corporate Bonds


Equity


Mutual funds

Deposit with Banks

Sub Total (A)

Current Assets:

Accrued Interest

Dividend Receivable

Bank Balance







Sub Total (B)


Corporate Bonds


Equity

Money Market

Others

Sub Total (C)

Total (A+B+C )










Particulars


1,581 - - - 17,340 19,164

272 28 3 2 1,405 1,503

18 0 0 0 1,670 1,810

73 0 0 0 961 1,094

1,798 28 3 2 19,453 21,383

Actual Inv. % Actual Actual Inv. % Actual Actual Inv. % Actual Actual Inv. % Actual Actual Inv. % Actual Actual Inv. % Actual

1,344 74.73% - 0.00% 1 19.66% - 0.00% 5,114 26.29% 5,768 26.98%

164 9.11% - 0.00% 1 38.39% - 0.00% 307 1.58% 338 1.58%

- 0.00% - 0.00% - 0.00% - 0.00% 0 0.00% 0 0.00%

- 0.00% - 0.00% - 0.00% - 0.00% 358 1.84% 429 2.01%

- 0.00% - 0.00% - 0.00% - 0.00% 1,874 9.63% 2,077 9.71%

- 0.00% 17 63.23% - 0.00% - 0.00% 8,772 45.09% 9,412 44.02%

129 7.15% 4 14.09% 0 2.16% 1 62.14% 803 4.13% 1,009 4.72%

110 6.12% - 0.00% - 0.00% - 0.00% 110 0.57% 110 0.51%

10 0.56% - 0.00% - 0.00% - 0.00% 10 0.05% 10 0.05%

1,756 97.67% 21 77.31% 2 60.20% 1 62.14% 17,347 89.17% 19,153 89.57%

4 0.24% 0 0.00% 0 1.88% 0 0.00% 172 0.88% 192 0.90%

- 0.00% 0 0.02% - 0.00% - 0.00% 9 0.05% 10 0.05%

0 0.00% 0 0.00% 0 0.01% 0 0.01% 7 0.04% 8 0.04%

- 0.00% - 0.00% - 0.00% - 0.00% 490 2.52% 509 2.38%

38 2.09% 8 29.53% 1 37.91% 1 37.85% 101 0.52% 110 0.52%

- 0.00% 3 9.12% - 0.00% - 0.00% 237 1.22% 250 1.17%

0 0.00% - 0.00% 0 0.00% - 0.00% 20 0.10% 37 0.17%

- 0.00% - 0.00% - 0.00% - 0.00% (0) 0.00% (0) 0.00%

42 2.33% 6 20.43% 1 39.80% 1 37.86% 522 2.68% 542 2.53%

- 0.00% - 0.00% - 0.00% - 0.00% 431 2.21% 471 2.20%

- 0.00% - 0.00% - 0.00% - 0.00% 37 0.19% 39 0.18%

- 0.00% 1 2.25% - 0.00% - 0.00% 551 2.83% 588 2.75%

- 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00%

- 0.00% - 0.00% - 0.00% - 0.00% 565 2.90% 589 2.76%

- 0.00% 1 2.25% - 0.00% - 0.00% 1,584 8.14% 1,688 7.89%

1,798 100.00% 28 100.00% 3 100.00% 2 100.00% 19,453 100.00% 21,383 100.00%

1,798 100.00% 28 100.00% 3 100.00% 2 100.00% 19,453 100.00% 21,383 100.00%

sd/-

Signature



Total Individual Fund Grand Total


individualDiversified Equity Fund Dynamic Bond Fund

Money Market Fund II - Pr

Driven

ULIF02401/01/20LIFEDYNBO

F104

ULIF02301/01/20LIFEMONM

K2104

ULIF02021/06/13LIFEDISCON1

04

ULIF02201/01/20LIFEDIVEQF

104

Diversified Equity Fund Dynamic Bond FundMoney Market Fund II - Pr

DrivenTotal Individual Fund Grand Total


individual

Page 13 of 40


FORM L-28-ULIP NAV Linked to Form 3A ( Part B)




In Rs Crores

Assets

Held NAV (Rs)

NAV (Rs) As

per LB2

1 Group Gratuity Growth Fund ULGF00117/04/06GRATGROWTH104 17/04/2006 Non-Par 17 32.3072 32.3072 29.5087 33.3247 32.1391 32.1940 0.35% 4.73% 33.9346

2 Group Gratuity Balanced Fund ULGF00217/04/06GRATBALANC104 17/04/2006 Non-Par 40 35.2910 35.2910 33.2200 34.7479 33.7820 33.2392 6.17% 5.85% 35.4562

3 Group Gratuity Conservative Fund ULGF00317/04/06GRATCONSER104 17/04/2006 Non-Par 23 31.5468 31.5468 30.4378 29.6275 29.0560 28.3102 11.43% 7.32% 31.5468

4 Group Superannuation Growth Fund ULGF00423/01/07SANNGROWTH104 23/01/2007 Non-Par - NC NC NC NC NC NC NC NC 26.0843

5 Group Superannuation Balanced Fund ULGF00523/01/07SANNBALANC104 23/01/2007 Non-Par - NC NC NC NC NC NC NC NC 24.3622

6 Group Superannuation Conservative Fund ULGF00623/01/07SANNCONSER104 23/01/2007 Non-Par 2 23.5950 23.5950 22.9732 22.3138 21.9783 21.6261 9.10% 5.86% 23.5950

7 Group Gratuity Bond Fund ULGF00707/02/13GRATPLBOND104 31/12/2013 Non-Par 10 16.9477 16.9477 16.4370 16.0031 15.7238 15.4790 9.49% 5.95% 16.9477

8 Growth Fund ULIF00125/06/04LIFEGROWTH104 25/06/2004 Non-Par 6,567 58.9365 58.9365 54.0690 60.5938 58.9582 59.2742 -0.57% 4.41% 61.7176

9 Balanced Fund ULIF00225/06/04LIFEBALANC104 25/06/2004 Non-Par 3,097 47.4326 47.4326 44.3254 46.8452 45.6817 45.1530 5.05% 6.14% 47.7739

10 Conservative Fund ULIF00325/06/04LIFECONSER104 25/06/2004 Non-Par 226 40.3731 40.3731 38.5417 38.3622 37.5674 37.1763 8.60% 6.43% 40.3731

11 Secured Fund ULIF00425/06/04LIFESECURE104 25/06/2004 Non-Par 780 34.4437 34.4437 32.9657 31.7832 31.1448 31.0424 10.96% 6.84% 34.4437

12 Pension Growth Fund ULIF00525/11/05PENSGROWTH104 25/11/2005 Non-Par 365 35.6359 35.6359 32.5051 37.3017 36.2413 36.2143 -1.60% 3.71% 37.8980

13 Pension Balanced Fund ULIF00625/11/05PENSBALANC104 25/11/2005 Non-Par 99 31.5913 31.5913 29.0014 31.8462 30.8759 30.6325 3.13% 5.24% 32.4878

14 Pension Conservative Fund ULIF00725/11/05PENSCONSER104 25/11/2005 Non-Par 10 31.2264 31.2264 29.7021 29.7851 29.1082 28.8239 8.34% 6.52% 31.2264

15 Pension Secured Fund ULIF00825/11/05PENSSECURE104 25/11/2005 Non-Par 47 29.7256 29.7256 28.6496 27.7408 27.2583 27.3195 8.81% 5.87% 29.7256

16 Guaranteed Fund-Income ULIF00904/10/06AMSRGUAINC104 04/10/2006 Non-Par 1 24.1915 24.1915 23.3817 23.0952 22.7421 22.3802 8.09% 5.89% 24.1915

17 Guaranteed Fund-Dynamic ULIF01004/10/06AMSRGUADYN104 04/10/2006 Non-Par 4 24.8915 24.8915 23.8058 24.1768 23.7073 23.3858 6.44% 5.63% 24.8915

18 Growth Super Fund ULIF01108/02/07LIFEGRWSUP104 08/02/2007 Non-Par 5,498 33.2719 33.2719 28.6986 37.7577 36.2211 36.8222 -9.64% 3.82% 38.4632

19 Pension Growth Super Fund ULIF01213/08/07PENSGRWSUP104 13/08/2007 Non-Par 223 19.9745 19.9745 17.2865 23.4482 22.5714 22.9021 -12.78% 1.70% 23.8995

20 High Growth Fund ULIF01311/02/08LIFEHIGHGR104 11/02/2008 Non-Par 400 27.8612 27.8612 23.8572 30.9120 29.5442 30.1112 -7.47% 1.60% 32.9894

21 Dynamic Opportunity Fund ULIF01425/03/08LIFEDYNOPP104 25/03/2008 Non-Par 653 27.2530 27.2530 24.8637 28.3819 27.6581 27.8777 -2.24% 3.92% 28.9894

22 Money Market Fund ULIF01528/04/09LIFEMONEYM104 28/04/2009 Non-Par 11 18.6067 18.6067 18.4798 18.3035 18.1193 17.9056 3.92% 4.84% 18.6067

23 Secure Plus Fund ULIF01628/04/09LIFESECPLS104 28/04/2009 Non-Par 385 24.9210 24.9210 23.7783 22.8737 22.4396 22.1518 12.50% 8.04% 24.9210

24 Pension Maximiser Fund ULIF01715/02/13PENSMAXIMI104 16/08/2013 Non-Par 581 18.4499 18.4499 17.1789 18.2789 17.8037 17.5892 4.89% 5.58% 18.5769

25 Pension Preserver Fund ULIF01815/02/13PENSPRESER104 19/08/2013 Non-Par 321 18.3649 18.3649 17.4240 17.5939 17.2728 16.9582 8.30% 6.12% 18.3649

26 Discontinuance Policy Fund Pension ULIF01912/08/13PENSDISCON104 19/02/2014 Non-Par 192 15.8346 15.8346 15.6646 15.4597 15.2682 15.0372 5.30% 5.78% 15.8346

27 Discontinuance Policy Fund Life ULIF02021/06/13LIFEDISCON104 29/04/2014 Non-Par 1,798 15.6293 15.6293 15.4593 15.2604 15.0676 14.8405 5.32% 5.76% 15.6293

28 Diversified Equity Fund ULIF02201/01/20LIFEDIVEQF104 08/06/2020 Non-Par 28 10.1722 10.1722 NA NA NA NA NA NA 10.3025

29 Dynamic Bond Fund ULIF02401/01/20LIFEDYNBOF104 08/06/2020 Non-Par 3 10.0444 10.0444 NA NA NA NA NA NA 10.0444

30 Money Market Fund II - Pr Driven ULIF02301/01/20LIFEMONMK2104 08/06/2020 Non-Par 2 10.0092 10.0092 NA NA NA NA NA NA 10.0092

TOTAL 21,383

Certification

Certified that the performance of all segregated funds have been placed and reviewed by the board. All information given herein are correct, complete and nothing has been concealed or suppressed, to the best of my knowledge and belief.


Signature: sd/-



Note :

1 NAV figures as per LB2 are as on 30 June 2020

2 NAV shown is at 4 decimal places

3 Group Superannuation Growth Fund & Group Superannuation Balanced fund have no active policyholders as on reporting date. Yields are not computed for these funds.

As on the Above Date

S.No Name of the Scheme SFIN No. Date of LaunchPar/ Non

Par

Highest

NAV since

inception

Previous Qtr.

NAV (Rs)

2nd

Previous

Qtr. NAV

3rd

Previous

Qtr. NAV

4th

Previous

Qtr. NAV

Annualis

ed

Return/Y

3 Year

Rolling

CAGR

Page 14 of 40


FORM L - 29 - DEBT SECURITIES - 7A




In Rs Crores

ULIP Non-ULIP Totalas % of total

for this classULIP Non-ULIP Total

as % of

total for this

class

ULIP Non-ULIP Total

as % of total

for this

class

ULIP Non-ULIP Total

as % of

total for this

class

Break down by credit

rating

AAA rated 3,187 12,918 16,105 26.42% 3,019 9,881 12,900 26.00% 3,187 12,002 15,189 27.05% 3,019 9,676 12,694 26.83%

AA or better 323 100 423 0.69% 443 181 623 1.26% 323 92 415 0.74% 443 175 618 1.31%

Rated below AA but

above A10 - 10 0.02% 546 1,424 1,969 3.97% 10 - 10 0.02% 546 1,530 2,076 4.39%

Rated below A but

above B 456 1,385 1,841 3.02% - - - 0.00% 456 1,520 1,976 3.52% - - - 0.00%

*Any other 6,166 36,401 42,567 69.84% 5,372 28,752 34,124 68.78% 6,166 32,392 38,558 68.67% 5,372 26,555 31,927 67.48%

10,142 50,804 60,946 100% 9,379 40,237 49,616 100% 10,142 46,006 56,148 100% 9,379 37,936 47,315 100%

BREAKDOWN BY

RESIDUALMATURITY

Up to 1 year 2,773 2,974 5,747 9.43% 2,106 2,231 4,337 8.74% 2,773 2,956 5,729 10.20% 2,106 2,223 4,329 9.15%

More than 1 yearand

upto 3years511 1,543 2,054 3.37% 1,155 1,331 2,486 5.01% 511 1,443 1,954 3.48% 1,155 1,300 2,455 5.19%

More than 3years and

up to 7years1,363 5,086 6,449 10.58% 1,737 3,473 5,210 10.50% 1,363 4,663 6,026 10.73% 1,737 3,355 5,092 10.76%

More than 7 years and

up to 10 years3,008 7,112 10,120 16.61% 2,634 6,802 9,436 19.02% 3,008 6,731 9,739 17.35% 2,634 6,723 9,357 19.78%

More than 10 years

and up to 15 years1,273 11,575 12,848 21.08% 1,290 8,413 9,702 19.55% 1,273 10,194 11,466 20.42% 1,290 7,761 9,051 19.13%

More than 15 years

and up to 20 years510 6,293 6,803 11.16% 172 4,750 4,921 9.92% 510 5,755 6,265 11.16% 172 4,423 4,595 9.71%

Above 20 years 705 16,220 16,925 27.77% 285 13,238 13,524 27.26% 705 14,265 14,969 26.66% 285 12,151 12,437 26.29%

10,142 50,804 60,946 100% 9,379 40,237 49,616 100% 10,142 46,006 56,148 100% 9,379 37,936 47,315 100%

Breakdown by type of

the issuer

a. Central Government 5,785 32,500 38,285 62.82% 4,972 27,099 32,071 64.64% 5,785 28,721 34,505 61.45% 4,972 24,971 29,943 63.29%

b. State Government 333 3,920 4,253 6.98% 250 1,606 1,856 3.74% 333 3,686 4,019 7.16% 250 1,537 1,787 3.78%

c.Corporate Securities 4,024 14,384 18,408 30.20% 4,157 11,532 15,689 31.62% 4,024 13,599 17,624 31.39% 4,157 11,428 15,584 32.94%

10,142 50,804 60,946 100% 9,379 40,237 49,616 100% 10,142 46,006 56,148 100% 9,379 37,936 47,315 100%

Note

1. In case of a debt instrument is rated by more than one agency, then the lowest rating will be taken for the purpose of classification.

2. The detail of ULIP and Non-ULIP will be given separately.

* Includes Government Securities, Treasury Bills, Fixed Deposits and Corporate securities rated below B.

3. Market value of the securities will be in accordance with the valuation method specified by the Authority under Accounting/ Investment regulations.

4. For breakdown by the type of issuer, repo instruments are shown under Corporate securities.

Detail Regarding Debt Securities

Market Value Book Value

As at 30th Jun 2020 As at 30th Jun 2019 As at 30th Jun 2020 As at 30th Jun 2019

Page 15 of 40


FORM L-30 : RELATED PARTY TRANSACTIONS



(Rs. in Lakhs)

Expense - Allocated Cost of group expenses 372.55 375.00

Expense - Allocated Cost on Salary - -

Expense - Stay Expenses in Guest House - -

Expenses - D&O Insurance Policy 1.00 1.00

Interim dividend - -

Final Dividend - 19,008.24

Cost allocation of disaster recovery site - -

Receipt - Insurance Premium - -

Receipt - Recovery of HR system - -

Expenses - Training Services 997.49 1,039.66

Expenses - Quarterly Variable Bonus 24.20 34.31

Receipt - Recovery of HR system - -

Receipt - Rental of office space - -

Receipt - IT support - -

Receipt - Insurance Premium (12.59) (9.42)

Interim Dividend - -

Final Dividend - 6,678.57

Receipt - Insurance Premium (1.24) -

Security deposit - For Leased Premises - -

Receipt - Rental of office space (83.94) -

Receipt - Rental of office space (127.15) -

Receipt - Reimbursement of Stamp Duty (40.88) -

Managerial Remuneration and Welfare Benefits 505.93 149.97

Receipt - Insurance Premium (2.00) (2.00)6 Key management personnel Key Management Personnel

4 Max Ventures & Industries LtdEnterprises over which Key Management

Personnel have significant Influence

5 Wise Zone Builders Pvt.LtdEnterprises over which Key Management


2 Max Skill First LimitedEnterprises over which Key Management


3 Mitsui Sumitomo Insurance Company Ltd. Shareholders with Significant Influence

Upto the quarter ending

June 30, 2020

Upto the quarter ending

June 30, 2019

1 Max Financial Services Limited Holding Company

SI No. Name of the Related Party Nature of Relationship with Company Description of Transaction / Categories

Page 16 of 40


FORM L-31 BOARD OF DIRECTORS & KEY PERSONS



As at June 30, 2020

Sl. No. Name of person Role/designation Remarks

1 Mr. Analjit Singh Chairman

2 Mr. Prashant Tripathy Managing Director & CEO

3 Mr. V.Viswanand Deputy Managing DIrector

4 Mr. Deepak Bhattasali Independent Director

5 Mr. D. K. Mittal Independent Director

6 Mr. Hideaki Nomura Non-Executive Director

7 Mr. K. Narasimha Murthy Independent Director

8 Ms. Marielle Theron Non-Executive Director

9 Mr. Mohit Talwar Non-Executive Director

10 Mr. Naoyuki Sakaki Non-Executive Director

11 Mr. Pradeep Pant Independent Director

12 Mr. Rajit Mehta Non-Executive Director

13 Mr. Sahil Vachani Non-Executive Director

SI. No. Name of Person Role/designation Remarks

1 Mr. Prashant Tripathy Managing Director & CEO

2 Mr. V.Viswanand Deputy Managing Director

3 Mr. Aalok Bhan Chief Marketing Officer

4 Mr. Amitabh Lal Das Chief Legal Officer

5 Mr. Amrit Pal Singh Head – Strategy, Business Performance, Management & Analytics

6 Mr. Anurag Chauhan Company Secretary

7 Mr. Jogesh Sikka Chief Compliance Officer

8 Mr. Jose John Appointed Actuary

9 Mr. Mandeep Mehta Deputy Chief Financial Officer

10 Mr. Manu Lavanya Chief Operations Officer

11 Mr. Mihir Vora Chief Investment Officer

12 Mr. Sachin Saxena Chief Risk Officer

13 Mr. Shailesh Singh Chief People Officer

Board of Directors

Key Persons as defined in IRDA Registration of Companies Regulations, 2000

Page 17 of 40


FORM L-32-SOLVENCY MARGIN - KT3

(See Regulation 4)

Insurance Regulatory and Development Authority (Actuarial Report and Abstract) Regulations, 2016

AVAILABLE SOLVENCY MARGIN AND SOLVENCY RATIO.

As at June 30, 2020

Name of Insurer: Form Code: BT

MAX LIFE INSURANCE COMPANY LIMITED Classification Code: BT

Classification: Total Business


Adjusted Value

Amount ( Rs in lacs)01 Available Assets in Policyholders' Fund: 7,138,784

Deduct:

02 Mathematical Reserves 6,882,723

03 Other Liabilities -

04 Excess in Policyholders' funds 256,061

05 Available Assets in Shareholders Fund: 446,729

Deduct:

06 Other Liabilities of shareholders’ fund 170,163

07 Excess in Shareholders' funds 276,566

08 Total ASM (04)+(07) 532,627

09 Total RSM 250,774

10 Solvency Ratio (ASM/RSM) 2.12

I, the Appointed Actuary, certify that the above statements have been prepared in accordance with the section 64VA of the Insurance Act, 1938, and the amounts

mentioned therein are true and fair to the best of my knowledge.

Place: Gurugram sd/-

Date: 21st July, 2020 Name and Signature of Appointed Actuary

Notes Jose John

1. Item No. 01 shall be the amount of the Adjusted Value of Assets as mentioned in Form IRDAI-Assets- AA as specified under Schedule I of Insurance Regulatory

and Development Authority (Assets, Liabilities, and Solvency Margin of Insurers) Regulations, 2000;

2. Item No. 02 shall be the amount of Mathematical Reserves as mentioned in Form H;

3. Item Nos. 03 and 06 shall be the amount of other liabilities as mentioned in the Balance Sheet;

4. Items No. 05 shall be the amount of the Adjusted Value of Assets as mentioned in Form IRDAI-Assets- AA as specified

under Schedule I of Insurance Regulatory and Development Authority (Assets, Liabilities, and Solvency Margin of Insurers) Regulations, 2000.

5. The above ratio does not account for any mark to market gain/loss adjustment.

Item Description


FORM L - 33 - NPAs - 7 Name of the Fund: Life Fund




In Rs Crores

YTD (As on 30

Jun 2020)

Prev. FY (As on 31

Mar 2020)

YTD (As on 30

Jun 2020)

Prev. FY (As on

31 Mar 2020)

YTD (As on 30

Jun 2020)

Prev. FY (As on 31

Mar 2020)

YTD (As on 30

Jun 2020)

Prev. FY (As on

31 Mar 2020)

YTD (As on 30

Jun 2020)

Prev. FY (As on

31 Mar 2020)

1 Investment Assets (As per Form 3A/3B- Total Fund) 11,061 10,983 - - 148 720 39,165 36,874 50,374 48,576

2 Gross NPA - - - - - - - - - -

3 % of Gross NPA on Investment Assets - - - - - - - - - -

4 Provision Made on NPA - - - - - - - - - -

5 Provision as a % on NPA (4/2) - - - - - - - - - -

6 Provision on Standard Assets - - - - - - - - - -

7 Net Investment Assets (1-4) 11,061 10,983 - - 148 720 39,165 36,874 50,374 48,576

8 Net NPA (2-4) - - - - - - - - - -

9 % of Net NPA to Net Investment Assets (8/7) - - - - - - - - - -

10 Write off made during the period - - - - - - - - - -

Certification :

Certified that the information given herein are correct and complete to the best of my knowledge. Also certified that the various investments made and covered in the return are within the exhaustive

categories provided in Investment Guidelines as amended from time to time.

Signature: sd/-

DATE: 21st July, 2020 Full Name: Prashant Tripathy / Mihir Vora


Note :

1. Investment Assets should reconcile with figures shown in Schedule L-26.

2. Gross NPA is investments classifies as NPA, before any provisions.

3. Provision made on 'Standard Assets' shall be as per Circular: 32/2/F&A/Circulars/169/Jan/2006-07 as amended from time to time.

4. Net Investment Assets is net of provisions.

5. Net NPA is gross NPAs less provisions.

6. Write off as approved by the board.

7. Values stated above have been adjusted for provisions on the exposure of IL&FS & DHFC Group.

Total

NO PARTICULARS

Bonds/Debentures Loans Other Debt Instruments All Other Assets

Page 19 of 40


FORM L - 33 - NPAs - 7 Name of the Fund: Annuity Fund




In Rs Crores

YTD (As on 30

Jun 2020)

Prev. FY (As on 31

Mar 2020)

YTD (As on 30

Jun 2020)

Prev. FY (As on

31 Mar 2020)

YTD (As on 30

Jun 2020)

Prev. FY (As on 31

Mar 2020)

YTD (As on 30

Jun 2020)

Prev. FY (As on

31 Mar 2020)

YTD (As on 30

Jun 2020)

Prev. FY (As on

31 Mar 2020)

1 Investment Assets (As per Form 3A/3B- Total Fund) 468 529 - - - 10 981 830 1,448 1,369

2 Gross NPA - - - - - - - - - -





7 Net Investment Assets (1-4) 468 529 - - - 10 981 830 1,448 1,369

8 Net NPA (2-4) - - - - - - - - - -



Certification :



Signature: sd/-



Note :







Total

NO PARTICULARS


Page 20 of 40


FORM L - 33 - NPAs - 7 Name of the Fund: Unit Linked Fund




In Rs Crores

YTD (As on 30

Jun 2020)

Prev. FY (As on 31

Mar 2020)

YTD (As on 30

Jun 2020)

Prev. FY (As on

31 Mar 2020)

YTD (As on 30

Jun 2020)

Prev. FY (As on 31

Mar 2020)

YTD (As on 30

Jun 2020)

Prev. FY (As on

31 Mar 2020)

YTD (As on 30

Jun 2020)

Prev. FY (As on

31 Mar 2020)

1 Investment Assets (As per Form 3A/3B- Total Fund) 3,017 3,372 - - 78 225 18,288 15,567 21,383 19,164

2 Gross NPA - - - - - - - - - -





7 Net Investment Assets (1-4) 3,017 3,372 - - 78 225 18,288 15,567 21,383 19,164

8 Net NPA (2-4) - - - - - - - - - -



Certification :



Signature: sd/-



Note :







7. Values stated above have been adjusted for provisions on the exposure of IL&FS & DHFC Group.

Total

NO PARTICULARS


Page 21 of 40


FORM L - 34 YIELD ON INVESTMENT Name of the Fund: Life Fund




Investment

(Rs.)

Income On

Investment

(Rs.)

Gross Yield

(%)

Net Yield

(%)

Investment

(Rs.)

Income On

Investment

(Rs.)

Gross Yield

(%)

Net Yield

(%)

Investment

(Rs.)

Income On

Investment

(Rs.)

Gross Yield

(%) Net Yield (%)

A CENTRAL GOVT. SECURITIES

A01 Central Government Bonds CGSB 27,004 534 7.93% 7.93% 27,004 534 7.93% 7.93% 23,685 472 8.02% 8.02%

A04 Treasury Bills CTRB 98 0 3.43% 3.43% 98 0 3.43% 3.43% 18 0 6.56% 6.56%

B CENTRAL GOVT. SEC, STATE GOVT OR OTHER APPROVED SECURITIES

B01 Central Government Guaranteed Loans / Bonds CGSL 71 1 8.15% 8.15% 71 1 8.15% 8.15% 72 1 8.14% 8.14%

B02 State Government Bonds SGGB 3,362 64 7.63% 7.63% 3,362 64 7.63% 7.63% 1,267 26 8.27% 8.27%

B04 Other Approved Securities (excluding Infrastructure Investments) SGOA 597 12 8.21% 8.21% 597 12 8.21% 8.21% 595 12 8.23% 8.23%

C (a) HOUSING & LOANS TO STATE GOVT FOR HOUSING / FFE

C04 Commercial Papers - NHB / Institutions accredited by NHB HTLN 48 1 7.27% 7.27% 48 1 7.27% 7.27% 32 0 8.57% 8.57%

C07 Long Term Bank Bonds Approved Investment- Affordable Housing HLBH 421 8 7.92% 7.92% 421 8 7.92% 7.92% 213 5 8.53% 8.53%

C08 Bonds / Debentures issued by HUDCO (Taxable Bonds) HTHD 542 12 8.51% 8.51% 542 12 8.51% 8.51% 250 5 8.34% 8.34%

C09 Bonds / Debentures issued by NHB / Institutions accredited by NHB HTDN 1,170 24 8.31% 8.31% 1,170 24 8.31% 8.31% 1,134 28 10.08% 10.08%

C10

Bonds/DebenturesissuedbyAuthorityconstitutedunderanyHousing/BuildingSchemeapprov

ed by Central / State / any Authority or Body constituted by Central / State Act HTDA 48 1 7.42% 7.42% 48 1 7.42% 7.42% 0 0 8.50% 8.50%

C11 Bonds / Debuntures issued by HUDCO (Tax Free Bonds) HFHD 25 1 8.11% 8.11% 25 1 8.11% 8.11% 25 1 8.11% 8.11%

(b) OTHER INVESTMENTS (HOUSING)

C18 Reclassified Approved Investments - Debt (Point 6 under Note for Regulation 4 to 9) HORD - (1) NC NC - (1) NC NC 5 (2) NC NC

(c) INFRASTRUCTURE INVESTMENTS

C19 Infrastructure - PSU - Equity shares - Quoted ITPE 171 1 1.42% 1.42% 171 1 1.42% 1.42% 224 8 14.73% 14.73%

C20 Infrastructure - Corporate Securities - Equity shares-Quoted ITCE 361 - 0.00% 0.00% 361 - 0.00% 0.00% 208 0 0.71% 0.71%

C25 Onshore Rupee Bonds issued by ADB and IFC (Infrastructure - approved) IORB 83 2 7.82% 7.82% 83 2 7.82% 7.82% 84 2 8.01% 8.01%

C26 Long Term Bank Bonds Approved Investment– Infrastructure ILBI 123 2 8.01% 8.01% 123 2 8.01% 8.01% 123 2 8.09% 8.09%

C27 Infrastructure - PSU - Debentures / Bonds IPTD 6,142 127 8.27% 8.27% 6,142 127 8.27% 8.27% 5,184 106 8.22% 8.22%

C29 Infrastructure - PSU - CPs IPCP 200 0 4.25% 4.25% 200 0 4.25% 4.25% 132 1 7.39% 7.39%

C29 Infrastructure - Other Corporate Securities - Debentures/ Bonds ICTD 136 3 7.85% 7.85% 136 3 7.85% 7.85% 127 3 8.39% 8.39%

C30 Infrastructure - Other Corporate Securities - CPs ICCP 96 0 4.04% 4.04% 96 0 4.04% 4.04% 97 1 7.17% 7.17%

C32 Infrastructure - PSU - Debentures / Bonds IPFD 4 0 8.08% 8.08% 4 0 8.08% 8.08% 4 0 8.12% 8.12%

C34 Infrastructure - Equity (including unlisted) IOEQ - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%

C42 Reclassified Approved Investments - Debt (Point 6 under Note for Regulation 4 to 9) IORD - - NC NC - - NC NC 10 (3) NC NC

C43 Reclassified Approved Investments - Equity (Point 6 under Note for Regulation 4 to 9) IORE - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%

D41 Units of InvIT EIIT 35 1 12.86% 12.86% 35 1 12.86% 12.86% 36 1 12.87% 12.87%

D APPROVED INVESTMENT SUBJECT TO EXPOSURE NORMS

D01 PSU - Equity shares - Quoted EAEQ 237 (1) -1.67% -1.67% 237 (1) -1.67% -1.67% 61 1 4.75% 4.75%

D02 Corporate Securities - Equity shares (Ordinary)- Quoted EACE 2,905 (0) -0.05% -0.05% 2,905 (0) -0.05% -0.05% 2,341 119 20.45% 20.45%

D05 Corporate Securities - Bonds - (Taxable) EPBT 782 16 8.40% 8.40% 782 16 8.40% 8.40% 1,252 26 8.28% 8.28%

D07 Corporate Securities - Preference Shares EPNQ - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%

D12 Investment properties - Immovable EINP 521 7 5.42% 5.42% 521 7 5.42% 5.42% 217 3 6.12% 6.12%

D16

Deposits - Deposit with Scheduled Banks, FIs (incl. Bank Balance awaiting Investment),

CCIL, RBI ECDB 65 1 6.84% 6.84% 65 1 6.84% 6.84% 52 1 8.51% 8.51%

D17 Deposits - CDs with Scheduled Banks EDCD - - 0.00% 0.00% - - 0.00% 0.00% 188 3 7.36% 7.36%

D18 Deposits - Repo / Reverse Repo - Govt Securities ECMR 1,087 7 2.70% 2.70% 1,087 7 2.70% 2.70% 554 8 5.94% 5.94%

D20 Deposit with Primary Dealers duly recognised by Reserve Bank of India EDPD - - 0.00% 0.00% - - 0.00% 0.00% 52 0 6.25% 6.25%

D21 CCIL-CBLO ECBO - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%

D22 Commercial Papers ECCP 113 2 5.97% 5.97% 113 2 5.97% 5.97% 274 5 7.56% 7.56%

D24 Perpetual Debt Instruments of Tier I & II Capital issued by PSU Banks EUPD - - 0.00% 0.00% - - 0.00% 0.00% 15 0 9.05% 9.05%

D29 Mutual Funds - Gilt / G Sec / Liquid Schemes EGMF 952 12 5.22% 5.22% 952 12 5.22% 5.22% 1,305 23 7.10% 7.10%

D38 Additional Tier 1 (Basel III compliant) Perpetual Bonds - (PSU Banks) EAPS - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%

E OTHER INVESTMENTS

E03 Equity Shares (incl Co-op Societies) OESH 78 - 0.00% 0.00% 78 - 0.00% 0.00% 22 (1) -31.93% -31.93%

E04 Equity Shares (PSUs & Unlisted) OEPU 1 - 0.00% 0.00% 1 - 0.00% 0.00% 1 - 0.00% 0.00%

E11 SEBI approved Alternate Investment Fund (Category I) OAFA 10 0 13.36% 13.36% 10 0 13.36% 13.36% 7 0 9.73% 9.73%

E12 SEBI approved Alternate Investment Fund (Category II) OAFB 37 (3) -30.01% -30.01% 37 (3) -30.01% -30.01% 40 0 3.32% 3.32%

E25 Reclassified Approved Investments - Debt (Point 6 under Note for Regulation 4 to 9) ORAD 1,520 29 7.78% 7.78% 1,520 29 7.78% 7.78% 949 18 7.84% 7.84%

E26 Reclassified Approved Investments - Equity (Point 6 under Note for Regulation 4 to 9) ORAE 407 3 3.44% 3.44% 407 3 3.44% 3.44% 540 29 21.76% 21.76%

Total 49,454 868 7.04% 7.04% 49,454 868 7.04% 7.04% 41,398 910 8.84% 8.84%

CERTIFICATION

Certified that the information given herein are correct, complete and nothing has been concealed or suppressed,to the best of my knowledge and belief.


Note: Category of Investments (COI) shall be as per Guidelines, as amended from time to time. Signature: sd/-

1 Based on daily simple average of investments. Full Name: Prashant Tripathy / Mihir Vora

2 Yield netted for Tax. Designation: Chief Executive Officer/ Chief Investment Officer

3 In the previous year column, the figures of the corresponding year to date of the previous financial year shall be taken.

4 FORM-1 shall be prepared in respect of each fund.

5 Yields are annualised using factor based on period

6 YTD Income on Investment shall be reconciled with figures in P&L and Revenue account.

7 NC represents yield Not Computed

In Rs Crores

No. Investment Particulars

Cat Code

Current Quarter Year To Date Previous Year

Page 22 of 40


FORM L - 34 YIELD ON INVESTMENT Name of the Fund: Annuity Fund




Investment

(Rs.)

Income On

Investment

(Rs.)

Gross Yield

(%)

Net Yield

(%)

Investment

(Rs.)

Income On

Investment

(Rs.)

Gross Yield

(%)

Net Yield

(%)

Investment

(Rs.)

Income On

Investment

(Rs.)

Gross Yield

(%)

Net Yield

(%)

A CENTRAL GOVT. SECURITIES

A01 Central Government Bonds CGSB 547 23 16.77% 16.77% 547 23 16.77% 16.77% 464 9 8.17% 8.17%

B CENTRAL GOVT. SEC, STATE GOVT OR OTHER APPROVED SECURITIES

B02 State Government Bonds SGGB 283 11 14.94% 14.94% 283 11 14.94% 14.94% 260 5 7.91% 7.91%


C (a) HOUSING & LOANS TO STATE GOVT FOR HOUSING / FFE

C07 Long Term Bank Bonds Approved Investment- Affordable Housing HLBH 34 2 22.23% 22.23% 34 2 22.23% 22.23% 14 0 8.34% 8.34%


C09 Bonds / Debentures issued by NHB / Institutions accredited by NHB HTDN 35 2 24.82% 24.82% 35 2 24.82% 24.82% 55 2 11.10% 11.10%



C19 Infrastructure - PSU - Equity shares - Quoted ITPE 0 - 0.00% 0.00% 0 - 0.00% 0.00% 0 0 143.16% 143.16%

C20 Infrastructure - Corporate Securities - Equity shares-Quoted ITCE 1 - 0.00% 0.00% 1 - 0.00% 0.00% 0 - 0.00% 0.00%


C28 Infrastructure - PSU - Debentures / Bonds IPTD 265 8 11.96% 11.96% 265 8 11.96% 11.96% 184 4 8.17% 8.17%

C29 Infrastructure - Other Corporate Securities - Debentures/ Bonds ICTD 1 0 8.75% 8.75% 1 0 8.75% 8.75% 2 (0) -17.01% -17.01%


D01 PSU - Equity shares - Quoted EAEQ 0 - 0.00% 0.00% 0 - 0.00% 0.00% 0 - 0.00% 0.00%

D02 Corporate Securities - Equity shares (Ordinary)- Quoted EACE 14 0 0.62% 0.62% 14 0 0.62% 0.62% 5 0 1.24% 1.24%

D05 Corporate Securities - Bonds - (Taxable) EPBT 123 3 8.88% 8.88% 123 3 8.88% 8.88% 89 2 8.76% 8.76%

D16

Deposits - Deposit with Scheduled Banks, FIs (incl. Bank Balance awaiting Investment),

CCIL, RBI ECDB 2 0 4.17% 4.17% 2 0 4.17% 4.17% - - 0.00% 0.00%

D17 Deposits - CDs with Scheduled Banks EDCD - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%

D18 Deposits - Repo / Reverse Repo - Govt Securities ECMR 119 1 2.00% 2.00% 119 1 2.00% 2.00% 41 1 5.92% 5.92%

D21 CCIL-TREPS (Formerly known as CBLO) ECBO - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%

D29 Mutual Funds - Gilt / G Sec / Liquid Schemes EGMF - - 0.00% 0.00% - - 0.00% 0.00% 13 0 15.67% 15.67%

D38 Additional Tier 1 (Basel III compliant) Perpetual Bonds - (PSU Banks) EAPS - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%

E OTHER INVESTMENTS

E26 Reclassified Approved Investments - Equity (Point 6 under Note for Regulation 4 to 9) ORAE - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%

Total 1,462 50 13.79% 13.79% 1,462 50 13.79% 13.79% 1,168 24 8.10% 8.10%

CERTIFICATION

Certified that the information given herein are correct, complete and nothing has been concealed or suppressed,to the best of my knowledge and belief.



Note: Category of Investments (COI) shall be as per Guidelines, as amended from time to time. Designation: Chief Executive Officer/ Chief Investment Officer

1 Based on daily simple average of investments.

2 Yield netted for Tax.





In Rs Crores

No. Investment Particulars

Cat Code


Page 23 of 40


FORM L - 34 YIELD ON INVESTMENT Name of the Fund: Linked Fund




Investment

(Rs.)

Income On

Investment

(Rs.)

Gross Yield

(%)

Net Yield

(%)

Investment

(Rs.)

Income On

Investment

(Rs.)

Gross Yield

(%)

Net Yield

(%)

Investment

(Rs.)

Income On

Investment

(Rs.)

Gross Yield

(%)

Net Yield

(%)

A GOVERNMENT SECURITIES

A01 Central Government Bonds CGSB 4,298 199 18.59% 18.59% 4,298 199 18.59% 18.59% 4,100 183 17.97% 17.97%

A04 Treasury Bills CTRB 1,292 15 4.54% 4.54% 1,292 15 4.54% 4.54% 362 6 6.35% 6.35%

B GOVERNMENT SECURITIES / OTHER APPROVED SECURITIES

B01 Central Government Guaranteed Loans / Bonds CGSL 6 0 19.45% 19.45% 6 0 19.45% 19.45% 5 0 16.10% 16.10%

B02 State Government Bonds SGGB 283 19 27.43% 27.43% 283 19 27.43% 27.43% 353 18 20.28% 20.28%


C (a) HOUSING SECTOR INVESTMENTS

C04 Commercial Papers - NHB / Institutions accredited by NHB HTLN - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%

C07 Long Term Bank Bonds Approved Investment- Affordable Housing HLBH 259 13 19.69% 19.69% 259 13 19.69% 19.69% - - 0.00% 0.00%


C09 Bonds / Debentures issued by NHB / Institutions accredited by NHB HTDN 572 20 13.73% 13.73% 572 20 13.73% 13.73% 761 20 10.83% 10.83%


C18 Reclassified Approved Investments - Debt (Point 6 under Note for Reg 4 to 9) HORD 43 (23) NC NC 43 (23) NC NC 176 (61) NC NC

C14 Debentures / Bonds / CPs / Loans HODS 10 0 11.73% 11.73% 10 0 11.73% 11.73% 10 0 8.24% 8.24%


C19 Infrastructure - PSU - Equity shares - Quoted ITPE 209 38 72.33% 72.33% 209 38 72.33% 72.33% 335 17 20.48% 20.48%

C20 Infrastructure - Corporate Securities - Equity shares-Quoted ITCE 656 117 71.19% 71.19% 656 117 71.19% 71.19% 661 66 39.95% 39.95%


C27 Infrastructure - PSU - Debentures / Bonds IPTD 989 47 18.91% 18.91% 989 47 18.91% 18.91% 589 19 13.06% 13.06%

C28 Infrastructure - PSU - CP's IPCP - - 0.00% 0.00% - - 0.00% 0.00% 52 1 7.98% 7.98%

C29 Infrastructure - Other Corporate Securities - Debentures/ Bonds ICTD 198 7 13.77% 13.77% 198 7 13.77% 13.77% 232 4 7.02% 7.02%

C30 Infrastructure - Other Corporate Securities - CPs ICCP - - 0.00% 0.00% - - 0.00% 0.00% 179 1 7.26% 7.26%

C34 Infrastructure - Equity (including unlisted) IOEQ - - 0.00% 0.00% - - 0.00% 0.00% 15 (0) -0.37% -0.37%

C42 Reclassified Approved Investments - Debt (Point 6 under Note for Reg 4 to 9) IORD - - NC NC - - NC NC 10 (9) NC NC

C43 Reclassified Approved Investments - Equity(Point 6 under Note for Reg 4 to 9) IORE - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%


D01 PSU - Equity shares - Quoted EAEQ 318 53 66.32% 66.32% 318 53 66.32% 66.32% 243 (13) -20.82% -20.82%

D02 Corporate Securities - Equity shares (Ordinary)- Quoted EACE 7,106 1,275 71.98% 71.98% 7,106 1,275 71.98% 71.98% 7,543 45 2.40% 2.40%

D05 Corporate Securities - Bonds - (Taxable) EPBT 449 10 9.10% 9.10% 449 10 9.10% 9.10% 1,098 24 8.91% 8.91%

D07 Corporate Securities - Preference Shares EPNQ - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%

D11 Municipal Bonds- Rated EMUN 5 0 19.57% 19.57% 5 0 19.57% 19.57% 5 0 17.65% 17.65%

D16

Deposits - Deposit with Scheduled Banks, FIs (incl. Bank Balance awaiting

Investment), CCIL, RBI ECDB 17 0 4.30% 4.30% 17 0 4.30% 4.30% 7 0 19.58% 19.58%

D17 Deposits - CDs with Scheduled Banks EDCD 24 0 4.05% 4.05% 24 0 4.05% 4.05% - - 0.00% 0.00%

D18 Deposits - Repo / Reverse Repo - Govt Securities ECMR 1,314 8 2.56% 2.56% 1,314 8 2.56% 2.56% 341 5 1.47% 1.47%

D21 CCIL - CBLO ECBO - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%

D22 Commercial Papers ECCP 64 1 6.75% 6.75% 64 1 6.75% 6.75% 140 1 10.37% 10.37%

D24 Perpetual Debt Instruments of Tier I & II Capital issued by PSU Banks EUPD - - 0.00% 0.00% - - 0.00% 0.00% - - 0.00% 0.00%

D29 Mutual Funds - Gilt / G Sec / Liquid Schemes EGMF 551 5 3.28% 3.28% 551 5 3.28% 3.28% 829 15 7.10% 7.10%

D31 Net Current Assets (Only in respect of ULIP Funds Business) ENCA 542 - 0.00% 0.00% 542 - 0.00% 0.00% 299 - 0.00% 0.00%

E OTHER INVESTMENTS

E03 Equity Shares (incl Co-op Societies) OESH 179 2 4.63% 4.63% 179 2 4.63% 4.63% 18 0 0.62% 0.62%

E04 Equity Shares (PSUs & Unlisted) OEPU 1 - 0.00% 0.00% 1 - 0.00% 0.00% 7 (1) -50.94% -50.94%

E06 Debentures OLDB - - 0.00% 0.00% - - 0.00% 0.00% 11 0 8.16% 8.16%

E19 Passively Managed Equity ETF (Non Promoter Group) OETF 552 59 43.11% 43.11% 552 59 43.11% 43.11% 567 (2) -1.07% -1.07%

E25 Reclassified Approved Investments - Debt (Point 6 under Note for Reg 4 to 9) ORAD 473 10 8.55% 8.55% 473 10 8.55% 8.55% 338 11 12.82% 12.82%

E26 Reclassified Approved Investments - Equity(Point 6 under Note for Reg 4 to 9) ORAE 277 (4) -5.60% -5.60% 277 (4) -5.60% -5.60% 614 39 25.40% 25.40%

Total 20,829 1,878 36.17% 36.17% 20,829 1,878 36.17% 36.17% 20,045 397 7.96% 7.96%

Certified that the information given herein are correct, complete and nothing has been concealed or suppressed,to the best of my knowledge and belief. Signature: sd/-


Note: Category of Investments (COI) shall be as per Guidelines, as amended from time to time. Designation: Chief Executive Officer/ Chief Investment Officer

1 Based on daily simple average of investments.

2 Yield netted for Tax.





7 NC represents yield not computed

In Rs Crores

No. Investment ParticularsCat

Code


Page 24 of 40


FORM L - 35 DOWNGRADING OF INVESTMENT Name Of The Fund: Life Fund



STATEMENT AS ON: June 30, 2020 In Rs Crores

No. Particulars of InvestmentCat

CodeAmount

Date of

Purchase

Rating

Agency

Original

Grade

Current

Grade

Date of

DowngradeRemarks

A DURING THE QUARTER1

E OTHER INVESTMENTS

B AS ON DATE2


ICTD FITCH IND AAA IND AA+ 17-Aug-18

FITCH IND AA+ IND BB 10-Sep-18

FITCH IND BB IND D 17-Sep-18


INDAAA INDAA+ 27-Jun-18

INDAA+ ICRA AA 21-May-19

E OTHER INVESTMENTS

EPBT ICRA AA+ ICRA AA 29-Nov-18

ICRA AA ICRA AA- 6-May-19

ICRA AA- ICRA A+ 25-Jul-19

ICRA A+ ICRA A 19-Dec-19

ICRA A INDB+ 18-Mar-20Security was downgraded to 'ICRA D' but subsequently upgraded to

'ICRA BB'. Lowest Rating is shown in case of multiple ratings





ICRA A INDB+ 18-Mar-20Security was downgraded to 'ICRA D' but subsequently upgraded to

'ICRA BB'. Lowest Rating is shown in case of multiple ratings





ICRA A CAREB 6-Mar-20Security was downgraded to 'ICRA D' but subsequently upgraded to

'ICRA BB+'. Lowest Rating is shown in case of multiple ratings

CERTIFICATION

Certified that the information herein are correct and complete to the best of my knowledge and belief and nothing has been concealed or suppressed


NOTE: Signature: sd/-

1. Provide details of Down Graded Investments during the Quarter. Full Name: Prashant Tripathy / Mihir Vora

2. Investments currently upgraded, which were listed as Down Graded during earlier Quarter shall be deleted from the Cumulative listing. Designation: Chief Executive Officer/ Chief Investment Officer

3. FORM-2 shall be prepared in respect of each fund.

4. Category of Investment (COI) shall be as per guidelines issued by the authority.

5. Matured securities have not been shown as part of the form above

ICRA

NIL

C42 8.69 IL&FS LIMITED 25 AUG 2025 - 25-Aug-15The value has been shown as NIL since we have provided for

100% of the exposure.IORD

D05 9.36 INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY 21 AUG 2024 EPBT 15 25-Aug-14

E25 7.8 YES BANK 01 OCT 2027 400 03-Oct-17 ICRAORAD

E25 7.80 YES BANK 29 SEP 2027 1,100 29-Sep-17 ICRAORAD

E25 8.00 YES BANK 30 SEP 2026 20 30-Sep-16 ICRAORAD

Page 25 of 40


FORM L - 35 DOWNGRADING OF INVESTMENT Name Of The Fund: Annuity Fund




In Rs Crores

No. Particulars of InvestmentCat

CodeAmount Date of Purchase Rating Agency Original Grade Current Grade Date of Downgrade Remarks


NIL

B AS ON DATE2

CERTIFICATION

Certified that the information herein are correct and complete to the best of my knowledge and belief

and nothing has been concealed or suppressed

Signature: sd/-


DATE: 21st July, 2020 Designation: Chief Executive Officer/ Chief Investment Officer

NOTE:

1. Provide details of Down Graded Investments during the Quarter.

2. Investments currently upgraded, which were listed as Down Graded during earlier Quarter shall be deleted from the Cumulative listing.



Page 26 of 40


FORM L - 35 DOWNGRADING OF INVESTMENT Name Of The Fund: Unit Linked Fund




In Rs Crores

No. Particulars of Investment Cat Code Amount Date of Purchase Rating Agency Original Grade Current GradeDate of

DowngradeRemarks


B AS ON DATE2

C HOUSING & INFRASTRUCTURE SECTOR INVESTMENTS

HTDN CARE CAREAAA CAREAA+ 4-Feb-19

CARE CAREAA+ CAREAA- 7-Mar-19

CARE CAREAA- CARE A 1-Apr-19

CARE CARE A CAREBBB- 14-May-19

CARE CAREBBB- CARED 5-Jun-19











ICTD FITCH INDAAA INDAA+ 7-Aug-18

FITCH INDAA+ INDBB 10-Sep-18

FITCH INDBB INDD 17-Sep-18

ICTD CARE CAREAAA CARE AA+ 17-Aug-18

FITCH CARE AA+ INDC 10-Sep-18

FITCH INDC INDD 17-Sep-18


D05 8.85 G.E. SHIPPING 12 APR 2028 EPBT 37 16-Apr-18 CARE CARE AAA CARE AA+ 8-Oct-18

E OTHER INVESTMENTS





ICRA A INDB+ 18-Mar-20Security was downgraded to 'ICRA D' but subsequently upgraded to 'ICRA

BB'. Lowest Rating is shown in case of multiple ratings





ICRA A INDB+ 18-Mar-20Security was downgraded to 'ICRA D' but subsequently upgraded to 'ICRA






ICRA A CAREB 6-Mar-20Security was downgraded to 'ICRA D' but subsequently upgraded to 'ICRA

BB+'. Lowest Rating is shown in case of multiple ratings





ICRA A CAREC 6-Mar-20Security was downgraded to 'ICRA D' but subsequently upgraded to 'ICRA


CERTIFICATION

Certified that the information herein are correct and complete to the best of my knowledge and belief and nothing has been concealed or suppressed


NOTE: Full Name: Prashant Tripathy / Mihir Vora

1. Provide details of Down Graded Investments during the Quarter. Designation: Chief Executive Officer/ Chief Investment Officer

2. Investments currently upgraded, which were listed as Down Graded during earlier Quarter shall be deleted from the Cumulative listing.



5. Matured securities have not been shown as part of the form above

NIL

C18 9.15 DEWAN HOUSING FINANCE CORPORATION 09 SEP 2021 19 14-Sep-16HORD

C189.05 DEWAN HOUSING FINANCE CORPORATION LIMITED 09

SEP 20213 23-Mar-18

HORD

C189.10 DEWAN HOUSING FINANCE CORPORATION LIMITED 16

AUG 20218 23-Mar-18

HORD

The value has been shown as NIL since we have provided for 100% of the

exposure.

IORD

C42 10.15 IL&FS FINANCIAL SERVICES LIMITED 29 JUN 2022 - 13-Jul-12

ICRAORAD

C42 9.55 IL&FS LIMITED 13 AUG 2024 - 04-Feb-15

IORD

E25 7.8 YES BANK 01 OCT 2027 91 03-Oct-17

E25 7.80 YES BANK 29 SEP 2027 364 29-Sep-17 ICRAORAD

E25 10.30 YES BANK 25 JUL 2021 1 29-Jul-11 ICRAORAD

E25 9.15 YES BANK 30 JUN 2025 15 22-Jun-15 ICRAORAD

Page 27 of 40


FORM L-36 :PREMIUM AND NUMBER OF LIVES COVERED BY POLICY TYPE



Premium

( Rs Crs) No. of Policies No. of Lives

Sum Insured,

Wherever

applicable

(Rs Crs)

Premium


Sum Insured,

Wherever

applicable

(Rs Crs)

Premium

(Rs Crs) No. of Policies No. of Lives

Sum Insured,

Wherever

applicable

(Rs Crs)

Premium


Sum Insured,

Wherever

applicable

(Rs Crs)

1 New Business Premium

i Individual Single Premium- (ISP)

From 0-10000 21.38 - - 57.23 21.00 - - 59.94 21.38 - - 57.23 21.00 - - 59.94

From 10,001-25,000 59.69 - - 151.78 58.06 - - 154.74 59.69 - - 151.78 58.06 - - 154.74

From 25001-50,000 47.06 - - 120.46 43.68 - - 118.88 47.06 - - 120.46 43.68 - - 118.88

From 50,001- 75,000 16.96 1 1 46.76 15.73 - - 45.27 16.96 1 1 46.76 15.73 - - 45.27

From 75,000-100,000 14.73 77 48 36.11 13.33 29 28 35.11 14.73 77 48 36.11 13.33 29 28 35.11

From 1,00,001 -1,25,000 6.77 26 16 18.32 6.00 10 10 17.85 6.77 26 16 18.32 6.00 10 10 17.85

Above Rs. 1,25,000 36.40 91 53 83.11 27.60 43 39 63.47 36.40 91 53 83.11 27.60 43 39 63.47

ii Individual Single Premium (ISPA)- Annuity

From 0-50000 0.11 - - 0.14 0.20 - - 0.12 0.11 - - 0.14 0.20 - - 0.12

From 50,001-100,000 0.04 - - - 0.01 1 1 0.09 0.04 - - - 0.01 1 1 0.09

From 1,00,001-150,000 0.06 2 2 0.00 0.06 4 4 0.01 0.06 2 2 0.00 0.06 4 4 0.01

From 150,001- 2,00,000 0.44 19 19 0.02 0.30 16 16 0.02 0.44 19 19 0.02 0.30 16 16 0.02

From 2,00,,001-250,000 1.46 59 57 0.09 1.22 52 51 0.12 1.46 59 57 0.09 1.22 52 51 0.12

From 2,50,001 -3,00,000 2.14 75 73 0.13 0.89 32 32 0.06 2.14 75 73 0.13 0.89 32 32 0.06

Above Rs. 3,00,000 58.15 428 412 4.62 12.27 131 131 1.57 58.15 428 412 4.62 12.27 131 131 1.57

iii Group Single Premium (GSP)

From 0-10000 - - - - - - - - - - - - - - - -

From 10,000-25,000 - - - - - - - - - - - - - - - -

From 25001-50,000 - - - - - - - - - - - - - - - -

From 50,001- 75,000 - - - - - - - - - - - - - - - -

From 75,000-100,000 - - - - - - - - - - - - - - - -

From 1,00,001 -1,25,000 - - - - - - - - - - - - - - - -

Above Rs. 1,25,000 - - - - - - - - - - - - - - - -

iv Group Single Premium- Annuity- GSPA

From 0-50000 - - - - - - - - - - - - - - - -

From 50,001-100,000 - - - - - - - - - - - - - - - -

From 1,00,001-150,000 - - - - - - - - - - - - - - - -

From 150,001- 2,00,000 - - - - - - - - - - - - - - - -

From 2,00,,001-250,000 - - - - - - - - - - - - - - - -

From 2,50,001 -3,00,000 - - - - - - - - - - - - - - - -

Above Rs. 3,00,000 - - - - - - - - - - - - - - - -

v Individual non Single Premium- INSP

From 0-10000 18.92 26,468 25,450 11,619.45 14.43 20,081 18,960 9,255.53 18.92 26,468 25,450 11,619.45 14.43 20,081 18,960 9,255.53

From 10,000-25,000 43.97 31,072 29,904 19,907.09 37.09 24,278 23,230 14,438.17 43.97 31,072 29,904 19,907.09 37.09 24,278 23,230 14,438.17

For Q Sep 18 102.74 27,236 26,759 8,971.99 115.43 29,725 29,232 4,710.41 102.74 27,236 26,759 8,971.99 115.43 29,725 29,232 4,710.41

From 50,001- 75,000 71.50 13,407 13,107 2,921.02 83.37 15,043 14,215 1,962.27 71.50 13,407 13,107 2,921.02 83.37 15,043 14,215 1,962.27

From 75,000-100,000 100.41 10,461 10,198 1,798.09 110.58 11,200 11,187 1,397.70 100.41 10,461 10,198 1,798.09 110.58 11,200 11,187 1,397.70

From 1,00,001 -1,25,000 42.78 4,412 4,350 1,019.36 42.83 4,257 4,257 779.88 42.78 4,412 4,350 1,019.36 42.83 4,257 4,257 779.88

Above Rs. 1,25,000 201.48 7,922 7,824 3,248.69 213.26 7,870 7,870 2,863.18 201.48 7,922 7,824 3,248.69 213.26 7,870 7,870 2,863.18

vi Individual non Single Premium Annuity INSPA

From 0-50000 0.24 72 72 0.53 0.13 40 40 0.32 0.24 72 72 0.53 0.13 40 40 0.32

From 50,001-100,000 0.87 104 104 1.80 1.65 196 196 3.32 0.87 104 104 1.80 1.65 196 196 3.32

From 1,00,001-150,000 0.34 28 23 0.66 0.48 38 38 1.01 0.34 28 23 0.66 0.48 38 38 1.01

From 150,001- 2,00,000 0.86 44 44 1.72 1.37 69 69 2.74 0.86 44 44 1.72 1.37 69 69 2.74

From 2,00,001-250,000 0.42 20 19 0.94 0.45 21 21 1.02 0.42 20 19 0.94 0.45 21 21 1.02

From 2,50,001 -3,00,000 0.60 20 20 1.19 0.62 21 21 1.25 0.60 20 20 1.19 0.62 21 21 1.25

Above Rs. 3,00,000 9.21 109 109 18.86 3.71 56 56 7.75 9.21 109 109 18.86 3.71 56 56 7.75


S. No. Particulars

For the quarter ending June 30, 2020 For the quarter ending June 30, 2019 Upto the quarter ending June 30, 2020

Page 28 of 40


FORM L-36 :PREMIUM AND NUMBER OF LIVES COVERED BY POLICY TYPE



Premium


Sum Insured,

Wherever

applicable

(Rs Crs)

Premium


Sum Insured,

Wherever

applicable

(Rs Crs)

Premium

(Rs Crs) No. of Policies No. of Lives

Sum Insured,

Wherever

applicable

(Rs Crs)

Premium


Sum Insured,

Wherever

applicable

(Rs Crs)


S. No. Particulars

For the quarter ending June 30, 2020 For the quarter ending June 30, 2019 Upto the quarter ending June 30, 2020

vii Group Non Single Premium (GNSP)

From 0-10000 - - - - - - - - - - - - - - - -

From 10,000-25,000 - - - - - - - - - - - - - - - -

From 25001-50,000 - - - - - - - - - - - - - - - -

From 50,001- 75,000 - - - - - - - - - - - - - - - -

From 75,000-100,000 - - - - - - - - - - - - - - - -

From 1,00,001 -1,25,000 - - - - - - - - - - - - - - - -

Above Rs. 1,25,000 - - - - - - - - - - - - - - - -

- - - - - - - -

viii Group Non Single Premium Annuity GNSPA - - - - - - - -

From 0-10000 - - - - - - - - - - - - - - - -

From 10,000-25,000 - - - - - - - - - - - - - - - -

From 25001-50,000 - - - - - - - - - - - - - - - -

From 50,001- 75,000 - - - - - - - - - - - - - - - -

From 75,000-100,000 - - - - - - - - - - - - - - - -

From 1,00,001 -1,25,000 - - - - - - - - - - - - - - - -

Above Rs. 1,25,000 - - - - - - - - - - - - - - - -

2 Renewal Premium

i Individual

From 0-10000 66.90 168,278 162,772 36,611.45 76.68 160,085 154,069 23,587.04 66.90 168,278 162,772 36,611.45 76.68 160,085 154,069 23,587.04

From 10,000-25,000 260.84 263,672 254,412 64,305.44 316.66 279,531 268,323 40,951.97 260.84 263,672 254,412 64,305.44 316.66 279,531 268,323 40,951.97

From 25001-50,000 360.52 168,072 163,034 21,820.31 380.00 160,812 155,543 16,141.08 360.52 168,072 163,034 21,820.31 380.00 160,812 155,543 16,141.08

From 50,001- 75,000 245.04 82,044 80,394 10,403.67 231.50 71,588 70,046 8,710.78 245.04 82,044 80,394 10,403.67 231.50 71,588 70,046 8,710.78

From 75,000-100,000 255.78 40,219 39,259 5,478.66 227.55 34,349 33,554 4,792.94 255.78 40,219 39,259 5,478.66 227.55 34,349 33,554 4,792.94

From 1,00,001 -1,25,000 102.58 17,196 16,875 3,425.84 80.62 12,838 12,574 2,622.30 102.58 17,196 16,875 3,425.84 80.62 12,838 12,574 2,622.30

Above Rs. 1,25,000 467.66 27,156 25,793 11,672.53 347.95 19,448 18,416 8,608.57 467.66 27,156 25,793 11,672.53 347.95 19,448 18,416 8,608.57

ii Individual- Annuity

From 0-10000 0.85 1,644 1,589 6.84 1.25 2,171 2,091 7.39 0.85 1,644 1,589 6.84 1.25 2,171 2,091 7.39

From 10,000-25,000 5.25 7,092 6,968 30.78 7.30 9,337 9,156 39.18 5.25 7,092 6,968 30.78 7.30 9,337 9,156 39.18

From 25001-50,000 4.82 2,171 2,124 16.11 6.52 2,803 2,736 20.83 4.82 2,171 2,124 16.11 6.52 2,803 2,736 20.83

From 50,001- 75,000 2.20 706 700 8.49 2.22 747 739 8.63 2.20 706 700 8.49 2.22 747 739 8.63

From 75,000-100,000 5.17 709 695 13.51 5.73 778 761 14.71 5.17 709 695 13.51 5.73 778 761 14.71

From 1,00,001 -1,25,000 1.09 182 181 3.86 1.11 197 194 4.19 1.09 182 181 3.86 1.11 197 194 4.19

Above Rs. 1,25,000 19.35 833 803 61.71 18.49 823 794 55.48 19.35 833 803 61.71 18.49 823 794 55.48

iii Group

From 0-10000 - - - - - - - - - - - - - - - -

From 10,000-25,000 - - - - - - - - - - - - - - - -

From 25001-50,000 - - - - - - - - - - - - - - - -

From 50,001- 75,000 - - - - - - - - - - - - - - - -

From 75,000-100,000 - - - - - - - - - - - - - - - -

From 1,00,001 -1,25,000 - - - - - - - - - - - - - - - -

Above Rs. 1,25,000 - - - - - - - - - - - - - - - -

iv Group- Annuity

From 0-10000 - - - - - - - - - - - - - - - -

From 10,000-25,000 - - - - - - - - - - - - - - - -

From 25001-50,000 - - - - - - - - - - - - - - - -

From 50,001- 75,000 - - - - - - - - - - - - - - - -

From 75,000-100,000 - - - - - - - - - - - - - - - -

From 1,00,001 -1,25,000 - - - - - - - - - - - - - - - -

Above Rs. 1,25,000 - - - - - - - - - - - - - - - -

Page 29 of 40


FORM L-37-BUSINESS ACQUISITION THROUGH DIFFERENT CHANNELS (GROUP)



No. of Policies/ No.

of Schemes

No. of Lives

Covered

Premium

( Rs Crs)

No. of Policies/ No. of

SchemesNo. of Lives Covered

Premium

( Rs Crs)

1 Individual Agents 19 4,312 0.36 18 4,691 0.54

2 Corporate Agents-Banks 2 799,185 19.81 32 538,938 62.34

3 Corporate Agents -Others - 733 0.45 - - -

4 Brokers 136 98,660 12.96 144 93,098 9.08

5 Micro Agents - - - - - -

6 Direct Business 47 162,171 6.16 128 702,713 13.07

Total(A) 204 1,065,061 39.73 322 1,339,440 85.03

1 Referral - - - - - -

Total(B) - - - - - -

Grand Total (A+B) 204 1,065,061 39.73 322 1,339,440 85.03

Note:

1. Premium means amount of premium written from business acquired by the source.

2. No of Policies stand for no. of policies sold.


S.No. Channels


Page 30 of 40


FORM L - 38 BUSINESS ACQUISITION THROUGH DIFFERENT CHANNELS (INDIVIDUALS)



No. of Policies Premium

( Rs Crs) No. of Policies

Premium

( Rs Crs)

1 Individual Agents 29,100 235.97 28,520 213.54

2 Corporate Agents-Banks 63,775 461.82 58,528 462.26

3 Corporate Agents -Others 860 11.02 1,779 15.44

4 Brokers (3) 0.72 (8) 0.73

5 Micro Agents - - - -

6 Direct Business 28,421 150.20 24,394 133.80

7 POS - - - -

Total (A) 122,153 859.73 113,213 825.76

1 Referral - - - -

Total(B) - - - -

Grand Total (A+B) 122,153 859.73 113,213 825.76

Note:

1. Premium means amount of premium written from business acquired by the source.

2. No of Policies stand for no. of policies sold.


S. No. Channels


Page 31 of 40


FORM L-39-DATA ON SETTLEMENT OF CLAIMS




On or before

maturity1 month 1 - 3 months 3 - 6 months 6 months - 1 year > 1 year

1 Maturity Claims 9,115 312 - - - - 9,427 172.67 2 Survival Benefit 21,624 - - - - - 21,624 32.47 3 Annuities / Pension 1,561 - - - - - 1,561 2.93 4 Death Claims - 2,472 - - - - 2,472 69.09 5 For Surrender - 70,169 - - - - 70,169 410.05 6 Other benefits - 24 - - - - 24 1.88

On or before


1 Maturity Claims - 80 - - - - 80 2.59 2 Survival Benefit - - - - - - - - 3 Annuities / Pension - - - - - - - - 4 Death Claims - 1,611 - - - - 1,611 30.15 5 For Surrender - 436 - - - - 436 1.28 6 Other benefits - 4 - - - - 4 0.62

The figures for individual and group insurance business need to be shown separately.

*The ageing of claims, in case of death claims will be computed from the date of completion of all the documentation.

Ageing of Claims* - Group

S.No. Types of Claims

No. of claims paidTotal No. of claims

paid

Total amount of

claims paid (Rs Crs)

Ageing of Claims* - Individual



paid

Total amount of


Page 32 of 40


FORM L-39-DATA ON SETTLEMENT OF CLAIMS




On or before


1 Maturity Claims 54,439 480 10 1 - - 54,930 322.12 2 Survival Benefit 17,904 - - - - - 17,904 27.44 3 Annuities / Pension 876 - - - - - 876 1.72 4 Death Claims - 3,672 9 1 - - 3,682 105.66 5 For Surrender - 89,554 - - - - 89,554 896.79 6 Other benefits - 55 - - - - 55 2.55

On or before


1 Maturity Claims - 142 - - - - 142 2.03 2 Survival Benefit - - - - - - - - 3 Annuities / Pension - - - - - - - - 4 Death Claims - 2,473 - - - - 2,473 40.51 5 For Surrender - 1,399 - - - - 1,399 4.54 6 Other benefits - 3 - - - - 3 0.18

The figures for individual and group insurance business need to be shown separately.

*The ageing of claims, in case of death claims will be computed from the date of completion of all the documentation.

Ageing of Claims* - Group



paid

Total amount of


Ageing of Claims* - Individual



paid

Total amount of


Page 33 of 40


FORM L-40-QUARTERLY CLAIMS DATA FOR LIFE




INDIVIDUAL CLAIMS: No. of Claims only

S. No. Claims Experience For Death For Maturity Survival BenefitFor Annuities/

PensionFor Surrender Other Benefits

1 Claims O/S at the beginning of the period 1 207 - - - 2

2 Claims reported during the period* 2,992 9,734 21,624 1,561 70,169 48

3 Claims Settled during the period 2,472 9,427 21,624 1,561 70,169 24

4 Claims Repudiated during the period 4 - - - - 2

a Less than 2years from the date of acceptance of risk 4 - - - - 2

b Greater than 2 year from the date of acceptance of risk - - - - - -

5 Claims Rejected - - - - - 9

6 Claims Written Back - - - - - -

7 Claims O/S at End of the period 517 514 - - - 15

Less than 3months 517 380 - - - 14

3 months to 6 months - 54 - - - 1

6months to 1 year - 45 - - - -

1year and above - 35 - - - -

GROUP CLAIMS: No. of Claims only



1 Claims O/S at the beginning of the period - - - - - -

2 Claims reported during the period* 1,697 80 - - 436 4

3 Claims Settled during the period 1,611 80 - - 436 4

4 Claims Repudiated during the period 4 - - - - -

a Less than 2years from the date of acceptance of risk 4 - - - - -


5 Claims Rejected - - - - - -


7 Claims O/S at End of the period 82 - - - - -

Less than 3months 82 - - - - -

3 months to 6 months - - - - - -

6months to 1 year - - - - - -

1year and above - - - - - -

TOTAL CLAIMS:No. of Claims only




2 Claims reported during the period* 4,689 9,814 21,624 1,561 70,605 52

3 Claims Settled during the period 4,083 9,507 21,624 1,561 70,605 28

4 Claims Repudiated during the period 8 - - - - 2

a Less than 2years from the date of acceptance of risk 8 - - - - 2






3 months to 6 months - 54 - - - 1



*in case of death- the claims for which all the documentations have been completed needs to be shown here.

Page 34 of 40


FORM L-40-QUARTERLY CLAIMS DATA FOR LIFE




INDIVIDUAL CLAIMS: No. of Claims only




2 Claims reported during the period* 4,076 54,959 17,904 876 89,554 79

3 Claims Settled during the period 3,682 54,930 17,904 876 89,554 55



b Greater than 2 year from the date of acceptance of risk 1 - - - - -





3 months to 6 months - 46 - - - -



GROUP CLAIMS: No. of Claims only



1 Claims O/S at the beginning of the period - - - - - -

2 Claims reported during the period* 2,571 142 - - 1,399 6

3 Claims Settled during the period 2,473 142 - - 1,399 3


a Less than 2years from the date of acceptance of risk - - - - - -


5 Claims Rejected - - - - - -


7 Claims O/S at End of the period 85 - - - - 3

Less than 3months 85 - - - - 3

3 months to 6 months - - - - - -

6months to 1 year - - - - - -

1year and above - - - - - -

TOTAL CLAIMS:No. of Claims only




2 Claims reported during the period* 6,647 55,101 17,904 876 90,953 85

3 Claims Settled during the period 6,155 55,072 17,904 876 90,953 58



b Greater than 2 year from the date of acceptance of risk 1 - - - - -





3 months to 6 months - 46 - - - -



*in case of death- the claims for which all the documentations have been completed needs to be shown here.

Page 35 of 40


Form L - 41 GRIEVANCE



Fully Accepted Partial Accepted Rejected

1 Complaints made by customers

a) Death Claims - 38 - 1 37 - 38

b) Policy Servicing - 7 2 1 4 - 7

c) Proposal Processing - 12 9 1 2 - 12

d) Survival Claims - 12 6 1 5 - 12

e) Ulip Related - - - - - - -

f) Unfair Business Practices - 308 74 32 202 - 308

g) Others - 80 38 5 37 - 80

Total Number - 457 129 41 287 - 457

2 597,567

3 703,971

4 122,407

5 106,191

6 33

7 5

8 Duration wise Pending StatusComplaints made by

Customers

Complaints made by

IntermediariesTotal

(a) Upto 7 days - - -

(b) 7 - 15 days - - -

(c) 15-30 days - - -

(d) 30-90 days - - -

(e) 90 days & Beyond - - -

Total No. of complaints - - -

* Opening balance should tally with the closing balance of the previous financial year.

** Grievance resolved includes carry forward numbers of last quarter

Total No. of Claim Complaints (current year) per 10,000 claims registered ( current year)

Grievance Disposal upto the quarter ending June 30, 2020

GRIEVANCE DISPOSAL

S. No. Particulars Opening Balance * Additions Complaints Resolved/ Settled during the quarter**

Complaints Pending

Total complaints

registered upto the

quarter during

financial year

Total No . of policies during previous year:

Total No. of claims during previous year

Total No. of policies during current year

Total No. of claims during current year

Total No. of Policy Complaints ( current year)per 10, 000 policies ( current year)

Page 36 of 40


Form L - 41 GRIEVANCE



Fully Accepted Partial Accepted Rejected

1 Complaints made by customers

a) Death Claims - 60 8 3 48 1 60

b) Policy Servicing - 30 15 6 9 - 30

c) Proposal Processing - 32 20 4 8 - 32

d) Survival Claims - 28 10 3 15 - 28

e) Ulip Related - 3 - - 3 - 3

f) Unfair Business Practices - 865 157 125 583 - 865

g) Others - 100 42 9 49 - 100

Total Number - 1,118 252 150 715 1 1,118

2 645,629

3 5,01,840

4 113,535

5 159,045

6 91

7 6

8 Duration wise Pending StatusComplaints made by

Customers

Complaints made by

IntermediariesTotal

(a) Upto 7 days - - -

(b) 7 - 15 days - - -

(c) 15-30 days - - -

(d) 30-90 days - - -

(e) 90 days & Beyond - - -

Total No. of complaints - - -

* Opening balance should tally with the closing balance of the previous financial year.

** Grievance resolved includes carry forward numbers of last quarter

Total No. of Claim Complaints (current year) per 10,000 claims registered ( current year) :

Grievance Disposal upto the quarter ending June 30, 2019

GRIEVANCE DISPOSAL

S. No. Particulars Opening Balance * Additions Complaints Resolved/ Settled during the quarter**

Complaints Pending

Total complaints

registered upto the

quarter during

financial year

Total No . of policies during previous year:

Total No. of claims during previous year

Total No. of policies during current year

Total No. of claims during current year

Total No. of Policy Complaints ( current year)per 10, 000 policies ( current year)

Page 37 of 40


L-42- VALUATION BASIS (LIFE INSURANCE)


REGISTRATION NO 104: DATE OF REGISTRATION WITH IRDA : NOVEMBER 15, 2000

Period Ended Jun 30, 2020

(a) How the policy data needed for valuation is accessed.

(b) How the valuation basis are supplied to the system

1) Valuation Interest Rate Assumptions

Line of Business Minimum Maximum

Individual Business

Life - Participating policies 5.45% 5.45%

Life - Non-participating Policies 5.25% 5.75%

Annuities - Participating policies NA NA

Annuities - Non-participating policies 5.70% 5.70%

Annuities - Individual Pension Plan 5.45% 5.75%

Unit Linked 5.75% 5.75%

Health Insurance 5.25% 5.75%

Group Business

Non-Par Single Premium 5.75% 5.75%

2) Mortality Assumptions Expressed as a % of IALM12-14, unless otherwise stated

Line of Business Minimum Maximum

Individual Business

Life - Participating policies 39% 608%

Life - Non-participating Policies 30% 822%

Annuities - Participating policies NA NA

Annuities - Non-participating policies* 54% 90%

Annuities - Individual Pension Plan 39% 217%

Unit Linked 33% 162% 2

Health Insurance 17% 465% 5

Group Business

Non-Par Single Premium 72% 84% 1

*Expressed as a % of LIC Annuitants (1996-98) with improvement factors of minimum 0.5%

3) Expense Assumptions

Expenses Per Policy Premium RelatedReserve Related

Expenses

Sum Assured

Related

Per annuity

paymentIndividual Business

Life - Participating policies Rs. 660 1.10% 0.07% NA NALife - Non-participating Policies Rs. 594 1.10% 0.07% NA NAAnnuities - Participating policies NA NA NA NA NAAnnuities - Non-participating policies Rs. 319 NA 0.07% NA Rs.11Annuities - Individual Pension Plan Rs. 660 1.10% 0.07% NA NAUnit Linked Rs. 935 1.10% 0.13% NA NAHealth Insurance Rs.704 1.10% 0.07% NA NA

Group Business

Non-Par Single Premium NA NA 0.07%

0.00825% of SA

(subject to

maximum Rs. 220

p.p)

NA

Policy data is downloaded in text files from policy administration system through an automated query post completion of new business processing for the month. Various checks are applied on the data before using it for policy liability calculations.

An actuarial software is used for valuation of policyholders’ liabilities and the assumption tables of the software are updated to reflect current valuation basis.

Page 38 of 40






4) Bonus Rates

i) For products with reversionary bonus feature, the future bonus rates vary between 0% to 3%. The bonus rates are compounding in nature.

Policy

Year 0 10 20 30 40 50 60 70

3 0.47 0.91 1.84 3.54 7.42 11.04 16.55 20.49

5 0.60 1.16 2.33 4.80 9.43 16.03 21.33 26.41

10 0.74 1.43 2.87 5.97 12.02 20.47 27.07 33.52

20 1.00 1.96 3.93 8.31 17.21 29.37 38.58 47.77

30 1.16 2.26 4.56 9.60 19.85 33.73 44.91 55.60

40 1.32 2.58 5.18 10.88 22.50 38.08 51.22 -

Policy

Year 0 10 20 30 40 50 60 70

3 0.83 1.06 2.04 3.69 6.50 8.94 14.37 18.89

5 0.90 1.32 2.56 5.00 8.26 12.98 18.51 24.34

10 1.31 2.39 4.10 7.59 12.85 20.24 28.51 37.39

20 2.42 4.41 7.66 14.38 25.03 39.48 54.88 71.78

30 3.53 6.41 11.21 21.01 36.53 57.37 80.51 105.07

40 4.00 7.31 12.77 23.81 41.40 64.78 88.04 105.07

Policy

Year 0 10 20 30 40 50 60 70

3 1.05 1.34 2.58 4.67 8.24 11.32 18.21 23.94

5 1.14 1.67 3.25 6.34 10.47 16.45 23.46 30.84

10 1.66 3.03 5.20 9.62 16.29 25.64 36.12 47.38

20 2.70 4.92 8.54 16.04 27.91 44.03 61.19 80.05

30 3.94 7.15 12.50 23.43 40.74 63.98 89.78 117.17

40 4.46 8.15 14.23 26.55 46.17 72.24 98.18 117.17

5) Policyholders Reasonable Expectations

6) Taxation and Shareholder Transfers

i ) Future bonuses have been allowed for within mathematical reserves. This has been done by projecting the bonuses likely to be paid in accordance with the company’s bonus philosophy and the projected levels of experience forming the valuation

basis, with appropriate regard to the bonus earning capacity of the asset share of the policies.

ii) For products with cash bonus feature, the Company's system is such that the rates for each product are a function of entry age and policy duration. Specimen valuation bonus rates (per thousand sum assured) for Whole Life Par policies used in

Jun 2020 valuation are shown in table below.

Whole of Life- Era 1(Policy issue dates Dec 2000 to Jan 2002)

Age at entry

Whole of Life- Era 2 (Policy issue dates Feb 2002 to July 2002)

Age at entry

Whole of Life- Era 3 (Policy issue dates August 2002 to January 2006)

Age at entry

iii) Explicit allowance is made in reserves for terminal bonus in accordance with the product feature and policy illustrations. For products where the terminal bonus was not illustrated in policy illustrations, an implicit allowance is made for terminal

bonus.

Policyholders’ Reasonable Expectations were considered for valuations:

ii) Although the Company’s participation system is nominally based on cash ‘bonuses’, the preferred bonus option is for bonuses to be taken as reversionary additions to sums insured. An election to use cash bonuses in this way is incorporated into

the application process and the company’s experience is that more than 85% of policyholders exercise this option. An indicator as to the bonus option is contained within individual policy valuation records so that the option is allowed for precisely in

the valuation.

iii) Benefit illustrations have been part of the Company’s sales process since it was founded. These illustrations have always been well qualified including statements along the lines ‘This is only an illustrative document does not convey any rights or

obligations. Bonuses are not guaranteed and bonus rates will be based on the actual Company experience from time to time.'

Shareholders’ transfers linked to bonuses and the potential liability to tax on the surplus distributed have been accounted for in valuation. Goods and Service tax is included in the valuation, wherever applicable.

Page 39 of 40






7) Basis of provisions for Incurred But Not Reported (IBNR)

i) An IBNR provision has been made to make an allowance for the claims that may have occurred but have not yet been reported.

ii) The reserve for IBNR claims is based on the expected benefit outgo net of reinsurance.

8) Change in Valuation Methods or Bases (compared to previous quarter)

1) Interest

2) Expense

3) Inflation

1) Interesta) Annuity in payment

b) Annuity during deferred period

c) Pension: All plans

2) Expensea) Annuity in payment



3) Inflationa) Annuity in payment



1) Interest

2) Expense

3) Inflation

1) Interest

2) Expense

3) Inflation

1) Interest

2) Expense

3) Inflation

Notes

1) Valuation Interest Rate:

1) (a) Assumption of 5.70% for non-participating products has been changed to 5.75%.

1) (b) Assumption of 6.55% for unit fund growth rate has been changed to 6.40%

2) Valuation inflation assumption of 5.45% applicable for all products has been changed to 5.50%.

Change, please refer to notes below

Individual AssuranceChange, please refer to notes below

No Change


Annuities

No Change

No Change


No Change

No ChangeNo Change


Change, please refer to notes belowChange, please refer to notes below

Unit LinkedChange, please refer to notes below

No Change

No Change


HealthChange, please refer to notes below

No Change


GroupChange, please refer to notes below

Page 40 of 40

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