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Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
Directors’ Report ............................................................................................................ 2
Management Report ..................................................................................................... 4
Auditors’ Report ............................................................................................................. 6
Revenue Account : Policyholders’ Account (Technical Account) ................................ 8
Profit & Loss Account : Shareholders’ Account (Non Technical Account) ............... 13
Balance Sheet ............................................................................................................. 14
Schedule 1-15 ............................................................................................................ 16
Annexure to Revenue Account .................................................................................. 32
Notes to Financial Statements .................................................................................... 38
Cash Flow Statement ................................................................................................ 104
Balance Sheet abstract & Company’s general business profile ............................... 105
INDEX
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
2
DIRECTORS’ REPORT
1. Market scenario in the life insurance industry:
Economic growth in emerging markets, including India, continuesto outpace that of the industrialized countries. The economicgrowth for the fiscal year 2007-08 is estimated to be between 8.5to 9%. However, turbulence in the financial markets, inflation andpressure on industrial growth have added to the difficulties ofsustained high growth.
Economic growth propels the growth of the insurance sector asthe proportion of GDP allocated towards insurance rises with risein GDP per capita. One of the key vectors that continue to propelthe growth of the Indian insurance industry is the presence of alarge young population, who are present and potential buyers oflife insurance policies. In terms of total premium, India is Asia’sfourth largest emerging insurance market after South Korea,China and Taiwan; and India is growing the fastest among themall. The Indian insurance market has grown rapidly since 2000 withthe insurance penetration rising from 1.8% in 1997 to 4.8% in 2007.(Source: Report by HSBC Global Research on The InsuranceMarkets of India)
Opening up of the insurance market to private and foreign players,and a consequent conversion of a monopolistic market to aliberalized one, has transformed the insurance industry in India.In the past few years, life premiums have been growing at a fastpace. In Financial Year (FY) 2007-08, the life industry grew at 23%,garnering new business premium of Rs. 930 billion, compared toRs. 754 billion in FY 2006-07. However private sector returned ahigh growth of 74% in the financial year 2007-08. Market share ofprivate players increased from 26 % in 2006-07 to 36 % in 2007-08.On a rated basis, private market share grew to 51.9 %.
Recently Insurance Regulatory and Development Authority (IRDA)has stipulated greater transparency and uniformity to be adoptedin the product brochures for ULIPs. The disclosure includes aspectssuch as listing out all the charges to be paid by the buyer, benefitsto the policyholder and also the effective amount available forinvestment in each policy year for a given product. Thiscommunication initiative should enhance the transparency andenable prospective buyers to make an informed judgement.During the last fiscal, IRDA came to a view that transparency ofactuarially funded products was a concern and accordingly askedthe companies to stop the sale of all actuarially funded products.
2. Summary of operations for the year:
Business Performance
Your Company continues to be at the second position amongstthe private life insurers on the basis of new business premiumand first position on the basis of the number of policies. It wrotenew business of Rs. 66,745 million compared to Rs. 43,027 millionin the previous year and registered a market share of 7.0%compared to 5.7% in the previous year. Your Company is at firstposition among the private life insurers on total new businesspolicy basis with 3,744,742 policies issued for the year 2007-08 ascompared to 2,079,217 policies in the previous year. The grosspremium written for the financial year 2007-08 was Rs. 97,253million, as compared to Rs. 53,452 million in the previous year.The annualized new business premium (considering singlepremium @ 10% and first year premium @ 100%) registered a
growth of 85% from Rs. 32,330 million in the previous year toRs. 59,953 million in the current year. The Company’s market shareon an annualized new business premium basis grew from 7.4% to10.3% in the year 2007-08. However business incurred a loss ofRs. 159 million during 2007-08, compared to a profit of Rs. 662million in the previous year.
The Assets under Management as on 31st March 2008 includeshareholder funds Rs. 11,459 million; traditional policyholderfunds Rs. 14,687 million and Unit linked funds of Rs. 109,542 million.The unit-linked funds have increased by 111.2% from Rs. 51,868million in the previous year.
Chief Executive Officer
Mr. Kamesh Goyal has been appointed as the Chief ExecutiveOfficer of the Company with effect from 1st October 2007, in placeof Mr. Sam Ghosh, on approval from IRDA. Mr. Goyal has richexperience in the Insurance Industry and was earlier the ChiefExecutive Officer of Bajaj Allianz General Insurance CompanyLimited.
Products
Your Company has 32 individual products and 8 Group Products,which cater to various strata of the society. Your Companylaunched an array of new products in the financial year for cateringto various segments of the industry viz for pension, women,children etc. Your Company has also launched a couple of groupproducts in the current fiscal. Pursuant to the IRDA circularstopping the sale of actuarially funded products, the Company haswithdrawn its Capital Unit Gain product which was based onactuarially funded platform. Your Company has launched a basketof twelve new products in the current year, with a view to providingadditional products to our customers.
Corporate Communication
Your Company has initiated new strategies for corporatecommunications in the last fiscal. It has implemented TVCampaign and had focus of its presence on general entertainment,news and niche channels and radio campaigns. Your Companyhas entered into Indian Premier League, one of the most keenlywatched and talked about event in the country by sponsoringRajasthan Royals, which is one of the most promising team forT20 cricket.
3.1 Capital:
The Shareholders’ contributed Rs. 5.10 billion to the Company’scapital during the year. With this, the total funds infused by theshareholders in the Company amount to Rs. 12.10 billion.
3.2 IRDA Registration:
The Certificate of Registration from the IRDA to carry on lifeinsurance business has been renewed for the year 2008-09.
4. Particulars regarding conservation of energy and technologyabsorption:
Since the Company does not carry out any manufacturing activity,the Companies (Disclosure of Particulars in the report of the Boardof Directors) Rules, 1988 are not applicable.
The Directors have pleasure in presenting their Seventh Annual Report & Audited Statements of Accounts for the year 2007- 08
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
3
5. Foreign exchange earnings and expenditure:
Earnings in foreign currency NIL
Expenditure in foreign currency Rs. 233 million
6. Particulars of employees:
As required by the provisions of sub-section 2A of Section 217 ofthe Companies Act, 1956 read with the Companies (Particularsof Employees) Rules, 1975 as amended, the names and otherparticulars of the employees are set out in the annexure to theDirectors’ Report. However, as per the provisions of sub-section1(b)(iv) of Section 219 of the Companies Act, 1956, the Reportand Accounts are being sent to the shareholders of the Companyexcluding the aforesaid information. Any shareholder interestedin obtaining such particulars may write to the Company Secretaryat the Registered Office of the Company.
7. Directors:
1. Dr. P. S. Palande, Director of the Company passed away on13th February 2008 at Pune due to cardiac arrest. The membersof the Board placed on record the appreciation for theexcellent services rendered by him during his association withthe Company since its early years. Mr. Niraj Bajaj wasappointed as the Director of the Company to fill the causalvacancy arising out of the sad demise of Dr. Palande.
2. Mr. Dietmar Raich was appointed as a Director of theCompany to fill the casual vacancy arising out of theresignation of Mr. Craig Ellis.
3. Dr. Werner Zedelius and Mr. Ranjit Gupta retire by rotation atthe ensuing Annual General Meeting and being eligible, offerthemselves for re-appointment as Directors.
8. Directors’ responsibility statement:
In accordance with the requirements of sub-section 2AA of Section217 of the Companies Act, 1956, the Board of Directors wish toconfirm the following:
i) that in preparation of the annual accounts, the applicableaccounting standards have been followed along with properexplanation relating to material departures;
ii) that such accounting policies have been selected and appliedconsistently, (except the change in policy as necessitated bythe introduction of Accounting Standard 15 issued by the
Institute of Chartered Accountants of India) and madejudgments and estimates that are reasonable and prudentso as to give a true and fair view of the state of affairs of theCompany as on 31st March 2008 and of the profit or loss of theCompany for that period;
iii) that proper and sufficient care has been taken for themaintenance of adequate accounting records in accordancewith the provisions of the Act for safeguarding the assets ofthe Company and for preventing and detecting fraud and otherirregularities;
iv) that the annual accounts have been prepared on a goingconcern basis.
9. Audit Committee:
The Audit Committee of Board of Directors constituted inaccordance with the provisions of Section 292A of the CompaniesAct, 1956 held their meetings on 11th May 2007 and 3rd December2007 and reviewed the operations and accounts of the Company.
10. Auditors:
In accordance with the IRDA Regulations/Guidelines, theCompany appointed M/s. Kirtane & Pandit, CharteredAccountants and M/s. S R Batliboi & Co, Chartered Accountants,as joint statutory auditors of the Company in the last AnnualGeneral meeting. They hold office up to the conclusion of theSeventh Annual General meeting of the Company.
The shareholders are requested to appoint the auditors for theperiod from the conclusion of the ensuing annual general meetingtill the conclusion of the next annual general meeting and to fixtheir remuneration.
11. Appreciation:
The Board is grateful to the IRDA and other regulatory authoritiesfor their continued support. The Board is also grateful to itsPolicyholders’, Bankers’, Intermediaries’ and Channel Partners fortheir continued support.
The Directors take this opportunity to thank the concernedemployees of Bajaj Auto Limited and Allianz SE for their invaluablecontribution in guiding the working of the Company.
The Directors also take this opportunity to thank the employeesat all levels for their hard work, dedication and commitment.
On behalf of Board of Directors ofBajaj Allianz Life Insurance Company Ltd.
Pune Rahul Bajaj12th May 2008 Chairman
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
4
With respect to the operations of Bajaj Allianz Life Insurance CompanyLimited (‘the Company’) for the financial year 1st April 2007 to 31st
March 2008 and results thereof, the Management of the Companyconfirms and declares that:
1. The registration certificate granted by Insurance Regulatory andDevelopment Authority (IRDA) is valid and the same has beenrenewed for the year 2008 - 2009.
2. All relevant statutory dues payable by the Company have beengenerally deposited on time.
3. During the current year, the Company has received the copy of theHigh Court of Judicature Mumbai vide order dated 18th December2007 granting approval to the scheme of arrangement wherebythe investment in the equity of the company held by erstwhileBajaj Auto Ltd. is demerged and vests with Bajaj Finserv Ltd. witheffect from 1st April 2007, which transfer has also been approvedby the Insurance Regulatory and Development Authority (‘IRDA’).As at 31st March 2008, actual transfer of shares are pendingcompletion of formalities.
4. The management has not directly or indirectly invested outsideIndia, the funds of the holders of policies issued in India.
5. The required solvency margins have been maintained as requiredby the IRDA.
6. We certify that the values of all the assets have been reviewed onthe date of Balance Sheet and in the management’s belief, theassets set forth under each of the headings in the Balance Sheetare shown in the aggregate at amounts not exceeding theirrealizable or market value under their related headings - “Loans”,“Investments”, “Outstanding Premiums”, “Income accrued oninvestments”, “Amounts due from other entities carrying oninsurance business (including amounts due from reinsurers)”,“Cash” and the several items specified under “Advances” and“Other Accounts”.
Market value of investment in debt securities (other than unitlinked funds) which are valued at amortised cost as per IRDAregulations, is lower than their carrying amount.
7. We certify that, no part of the life insurance fund has been directlyor indirectly applied in contravention of the Insurance Act, 1938(4 of 1938) relating to the application and investment of the lifeinsurance fund.
8. The Company recognizes the risks associated with the lifeinsurance business and manages the risks by adopting prudentpolicies to counter the key risks of the Company – namelyunderwriting and investment risks.
The Company has established robust underwriting procedures tomitigate underwriting risks. Additionally the Company hasentered into reinsurance arrangements wherein it reinsures riskin excess of its retention limits to mitigate its risk exposure.
The investment risk is managed by laying down appropriateguidelines in the Investment Policy. The Investment Policy is
formulated by the Investment Committee and approved by theBoard of Directors. The investment policy is reviewed at least oncea year for alignment with the Company’s latest business plan andother developments during the year.
9. The Company does not have operations in any other country.
10. Claim settlement time for the claims lodged has been around 7days from the date of receipt of complete requirements. Ageingof claims registered and not settled is given below.
For Linked Business(Rs. In lakh)
Period No. of Claims Amount Involved
30 days 442 893.92
30 days to 6 months 296 555.96
6 months to 1 year 70 102.10
1 year to 5 years 47 81.01
5 years and above Nil Nil
For Traditional Business(Rs. In lakh)
Period No. of Claims Amount Involved
30 days 206 122.96
30 days to 6 months 343 132.67
6 months to 1 year 104 88.42
1 year to 5 years 161 205.21
5 years and above 1 4.32
11. We certify that the values, as shown in the Balance Sheet, of theinvestments (other than unit linked investments), which consistsof fixed income securities, equity shares and mutual fund unitsthat have been valued as per accounting policies prescribed byIRDA. Market values have been ascertained for equities on thebasis of lower of the closing prices as on the balance sheet date onThe National Stock Exchange of India Ltd. (NSE) and The BombayStock Exchange Ltd, Mumbai (BSE). For fixed income securities,valuation is based on procedure issued by Fixed Income andMoney Market and Derivative Dealers Association of India(FIMMDA). The investments in the Mutual Funds are valued atthe Net Asset Values (NAV) of these Mutual funds as on theBalance Sheet date.
We certify that the unit linked investments have been valued onthe basis as stated below:
Equities have been valued at market values which have beenascertained on the basis of the last quoted closing price on theNSE. In case the equity shares are not listed on the NSE, then theyare valued on the last quoted closing price on BSE. Governmentsecurities are valued at prices obtained from Credit Rating
MANAGEMENT REPORT
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
5
Information Services of India Ltd. (CRISIL). Corporate bonds anddebentures are valued on the basis of CRISIL Bond Valuer. Treasurybills, certificate of deposits and commercial papers are valued atcost plus accretion at yield to maturity. Mutual fund units havebeen valued at the last available Net Asset Value declared by therespective mutual fund.
12. The Company has invested (other than unit linked funds) mainlyin approved Government securities and AAA or AA+ rated bonds.The primary aim while investing is to generate adequate returnwhile minimizing risk. The emphasis is also on the liquidity ofinvestments to ensure that the Company meets all outgoingsrelated to claims and other operations. While most of theinvestments are in fixed income securities in the form ofGovernment of India securities or Corporate Bonds with strongcredit rating, a small portion is also invested in Equity shares.Based on the past track record, the Management is confident ofthe quality and performance of the investments.
13. The Management of Bajaj Allianz Life Insurance Company Limitedcertifies that:
a) The financial statements of Bajaj Allianz Life InsuranceCompany Limited have been prepared in accordance with the
applicable accounting standards and principles and policieswith no departures;
b) The management has adopted accounting policies andapplied them consistently except for change in accountingpolicy as discussed in the notes to financial statements andmade judgments and estimates that are reasonable andprudent so as to give a true and fair view of the state of theaffairs of the Company at the end of the financial year and ofthe operating profit as per Policyholders’ Account (TechnicalAccount) and of the Loss as per Shareholders’ Account (NonTechnical Account) of the Company for the year;
c) The management has taken proper and sufficient care for themaintenance of adequate accounting records in accordancewith the applicable provisions of the Insurance Act, 1938 (4 of1938) and Companies Act, 1956 (1 of 1956), for safeguardingthe assets of the Company and for preventing and detectingfraud and other irregularities;
d) The financial statements have been prepared on a goingconcern basis;
e) The Company has an internal audit system commensuratewith the size of the Company and nature of the business.
For Bajaj Allianz Life Insurance Company Limited
Rahul Bajaj Kamesh Goyal Ranjit GuptaChairman Alternate Director & Chief Executive Officer Director
Rajesh Viswanathan Anil Singh Sameer BakshiChief Financial Officer Appointed Actuary Company Secretary
Place : PuneDate : 12th May 2008
14. The following are the payments made to individuals, firms, companies and organizations in which the directors of the insurer are interested:
Sl. Name of the Director Entity in which Director is interested Interest as Amount of Payment duringNo. Relative Director the financial year (Rs. In lakh)
1 Mr. Rahul Bajaj, Bajaj Auto Ltd (now known as Director 42.55Mr. Sanjiv Bajaj and Bajaj Holdings and Investment Ltd.) DirectorMr. Niraj Bajaj Director
2 Mr. Rahul Bajaj, Bajaj Auto Finance Ltd. Director 18.53Mr. Sanjiv Bajaj and DirectorMr. Niraj Bajaj Director
3 Mr. Rahul Bajaj, Bajaj Allianz General Insurance Director 470.38Mr. Sanjiv Bajaj, Company Ltd. DirectorMr. Niraj Bajaj and DirectorRanjit Gupta Director
4 Mr. Rahul Bajaj, Hind Musafir Agency Ltd. Shareholder 0.20Mr. Sanjiv Bajaj and ShareholderMr. Niraj Bajaj Shareholder
5 Dr. Werner Zedelius Allianz Insurance Management Director 7.09Mr. Craig Ellis Asia Pacific Pte Limited Director
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
6
AUDITORS’ REPORT
We have audited the attached Balance Sheet of Bajaj Allianz LifeInsurance Company Limited (‘the Company’) as at 31 March 2008,and the related Policyholders’ Revenue Account, the Shareholders’Profit and Loss Account and the Receipts and Payments Account forthe year ended on that date, annexed thereto.
These financial statements are the responsibility of the managementof the Company. Our responsibility is to express an opinion on thesefinancial statements based on our audit.
We conducted our audit in accordance with auditing standardsgenerally accepted in India. These standards require that we plan andperform the audit to obtain reasonable assurance as to whether thefinancial statements are free of material misstatement. An auditincludes examining on a test basis, evidence supporting the amountsand disclosures in the financial statements. An audit also includesassessing the accounting principles used and significant estimatesmade by management, as well as evaluating the overall financialstatement presentation. We believe that our audit provides areasonable basis for our opinion.
The Balance Sheet, the Policyholders’ Revenue Account, theShareholders’ Profit and Loss Account and the Receipts and PaymentsAccount have been drawn up in accordance with the Insurance Act,1938 (Act 4 of 1938), Insurance Regulatory and Development Act,1999, Insurance Regulatory and Development Authority (Preparationof Financial Statements and Auditor’s Report of Insurance Companies)Regulations 2002 (‘the Regulations’) read with Section 211 of theCompanies Act, 1956.
As required by the Regulations, we set out in the Annexure, astatement certifying the matters specified in paragraph 4 of ScheduleC to the Regulations.
Further to our comments in the Annexure referred to above, we reportthat:
• We have obtained all the information and explanations which, tothe best of our knowledge and belief were necessary for thepurposes of the audit and have found them to be satisfactory;
• In our opinion and to the best of our information and according tothe explanations given to us, proper books of account as requiredby law have been maintained by the Company so far as appearsfrom our examination of those books;
• As the Company’s accounting system is centralised at the headoffice, no returns for the purposes of our audit are prepared at thebranches and other offices of the Company;
• The Balance Sheet, the Policyholders’ Revenue Account, theShareholders’ Profit and Loss Account and the Receipts andPayments Account referred to in this report are in agreement withthe books of account;
• The actuarial valuation of liabilities for life policies in force is theresponsibility of the Company’s Appointed Actuary (‘theAppointed Actuary’). The actuarial valuation of liabilities forpolicies in force as at 31 March 2008 has been duly certified by the
Appointed Actuary. The Appointed Actuary has also certified that,in his opinion, the assumptions for such valuation are in accordancewith the guidelines and norms, if any, issued by the InsuranceRegulatory and Development Authority (‘IRDA’) and the Instituteof Actuaries of India in concurrence with the authority. We haverelied upon the Appointed Actuary’s certificate in this regard informing our opinion.
• On the basis of the written representations received from theDirectors of the Company, as on 31 March 2008 and taken on recordby the Board of Directors, no Director of the Company is disqualifiedas on 31 March 2008 from being appointed as Director underclause (g) of sub section (1) of Section 274 to the Companies Act,1956.
In our opinion and to the best of our information and according tothe explanations given to us, we further report that:
• Investments have been valued in accordance with the provisionsof the Insurance Act, 1938 and the Regulations or orders /directions issued by IRDA in this behalf;
• The accounting policies selected by the Company are appropriateand are in compliance with applicable accounting standards andwith accounting principles, as prescribed in the Regulations andorders or directions issued by IRDA in this behalf;
• The Balance Sheet, the Policyholders’ Revenue Account, theShareholders’ Profit and Loss Account and the Receipts andPayments Account referred to in this report are in compliance withthe accounting standards referred to in Section 211 (3C) of theCompanies Act, 1956; and
• The Balance Sheet, the Policyholders’ Revenue Account, theShareholders’ Profit and Loss Account and the Receipts andPayments Account together with the notes thereon and attachedthereto are prepared in accordance with the requirements of theRegulations, the Insurance Act, 1938, the Insurance Regulatory andDevelopment Act, 1999 and the Companies Act, 1956, to theextent applicable and in the manner so required and give a trueand fair view in conformity with accounting principles generallyaccepted in India as applicable to insurance companies:
i) in the case of the Balance Sheet, of the state of affairs of theCompany as at 31 March 2008;
ii) in the case of the Policyholders’ Revenue Account, of thesurplus for the year ended 31 March 2008;
iii) in the case of the Shareholders’ Profit and Loss Account, of theloss for the year ended 31 March 2008; and
iv) in the case of the Receipts and Payments Account, of thereceipts and payments for the year ended 31 March 2008.
Further, on the basis of examination of books and records of theCompany and according to the information and explanationsgiven to us and to the best of our knowledge and belief, we certifythat:
To
The Members of Bajaj Allianz Life Insurance Company Limited
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
7
• We have reviewed the management report attached to thefinancial statements for the year ended 31 March 2008 and thereis no apparent mistake or material inconsistencies with thefinancial statements; and
• Based on information and explanations received during thenormal course of our audit, management’s representations made
Annexure to the Auditors Report(Referred to in the Auditors’ Report to the members of Bajaj Allianz Life Insurance Company Limited (‘the Company’) on the accounts for the yearended 31 March 2008)
Auditor’s Certificate
To the Members of Bajaj Allianz Life Insurance Company Limited
Based on the information and explanations given to us and to the best of our knowledge and belief, we certify that:
• We have verified the cash balances, to the extent considered necessary, securities relating to the Company’s loans and investments by actualinspection or on the basis of certificates / confirmations received from custodians and / or Depository Participants appointed by the Company,as the case may be. At 31 March 2008, none of the Company’s assets involve reversion or life interests;
• The Company is not the trustee of any trust; and
• No part of the assets of the policyholders’ funds has been directly or indirectly applied in contravention to the provisions of the Insurance Act,1938 relating to the application and investments of the policyholders’ funds.
• This certificate is issued to comply with the requirements of Schedule C of Insurance Regulatory and Development Authority (Preparation ofFinancial Statements and Auditor’s Report of Insurance Companies) Regulations 2002 (‘the Accounting Regulations’) read with Regulation 3of the Accounting Regulations and may not be suitable for any other purpose.
KIRTANE & PANDIT S. R. BATLIBOI & Co.Chartered Accountants Chartered Accountants
Suhas Deshpande per Hemal ShahPartner PartnerMembership No. 31787 Membership No. 42650
Place : Pune Place : MumbaiDate : 12th May 2008 Date : 12th May 2008
to us and the compliance certificate submitted to the Board by theofficers of the Company charged with compliance and the samebeing noted by the Board, nothing has come to our attention whichcauses us to believe that the Company has not complied with theterms and conditions of registration as per subsection 4 of section3 of the Insurance Act, 1938.
KIRTANE & PANDIT S. R. BATLIBOI & Co.Chartered Accountants Chartered Accountants
Suhas Deshpande per Hemal ShahPartner PartnerMembership No. 31787 Membership No. 42650
Place : Pune Place : MumbaiDate : 12th May 2008 Date : 12th May 2008
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
8
Revenue Account for the year ended 31st March 2008Policyholders’ Account (Technical Account)
Particulars Schedule Current Year Participating
Individual Individual Individual IndivAssurance Pension Assurance He
PREMIUMS EARNED - Net(a) Premium 1 97,253,110 3,431,785 65,575 36,589 115(b) Reinsurance ceded (Refer Schedule 16 Note 16) (132,718) (33,189) (585) (2,505) (17,(c) Reinsurance accepted - - - -
SUB-TOTAL 97,120,392 3,398,596 64,990 34,084 98
INCOME FROM INVESTMENTS(a) Interest, Dividend & Rent - Gross 1,958,552 532,794 19,315 15,283 1(b) Profit on sale / redemption of investments 9,000,892 136,390 - 116(c) (Loss on sale / redemption of investments) (1,552,580) (24,332) (44) (52)(d) Transfer/Gain on revaluation/ change in fair value (3,008,441) - - -(e) Other investment income 603,495 - - -
7,001,918 644,852 19,271 15,347 1
OTHER INCOME 117,643 32,258 389 152Contribution from the Shareholders’ account 2,951,827 - - -(Refer Schedule 16 Note 15)
SUB-TOTAL 10,071,388 677,110 19,660 15,499 1
TOTAL (A) 107,191,780 4,075,706 84,650 49,583 99
COMMISSION 2 14,968,622 297,591 1,280 2,520 25
OPERATING EXPENSES RELATED TO INSURANCE BUSINESS 3 20,043,360 660,996 9,559 8,118 21Provision for doubtful debts - - - -Bad Debts written off - - - -Provision for Fringe Benefit Tax 93,313 3,082 45 38Provisions (other than taxation)(a) For diminution in the value of investments (net) - - - -(b) Others - - - -
TOTAL (B) 35,105,295 961,669 10,884 10,676 47
BENEFIT PAID (Net) 4 8,514,005 318,654 2,258 19,070 7Interim Bonuses Paid 2,728 2,728 - -Change in valuation of liability in respect of life policiesin force (Refer Schedule 16 Note 1 (e) and Note 8 )(a) Gross 3,916,140 2,462,954 72,401 24,284 25(b) Fund Reserve (Refer Schedule 16 Note 1(e)) 57,673,296 - - -(c) Amount ceded in Re-insurance(d) Amount accepted in Re-insurance
TOTAL (C) 70,106,169 2,784,336 74,659 43,354 32
SURPLUS/ (DEFICIT ) (D) = (A) - (B) - (C) 1,980,316 329,701 (893) (4,447) 19
Balance of previous year 670,923 585,104 4,383 39,757 11Transitional Adjustments on revision to Valuation of employees benefit (67,505) (5,705) (70) (137)(Refer Schedule 16 Note 1)
APPROPRIATIONSReserve for lapsed unit linked policies unlikely to be revived (1,601,620) - - -(Refer Schedule 16 Note 1(e) and Note 8)Transfer to Shareholders’ account (32,706) (31,678) (1,028) -
Balance being funds for future appropriations 949,408 877,422 2,392 35,173 30
DETAILS OF TOTAL SURPLUSInterim Bonuses Paid (a) 2,728 2,728 - -Allocation of Bonus to policyholders (b) 294,355 285,105 9,250 -Surplus shown in the Revenue Account (c) 1,980,316 329,701 (893) (4,447) 19
Total Surplus [ (a)+ (b)+ (c) ] 2,277,399 617,534 8,357 (4,447) 19
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
9
(Amount in Rs. ‘000 )
Participating Non Participating Linked
dual Individual Individual Individual Individual Group Individual Individual Group Groupnce Pension Assurance Health Annuity Assurance Assurance Pension Superannuation Gratuity
785 65,575 36,589 115,838 16,729 491,576 88,217,832 3,262,864 220,891 1,393,43189) (585) (2,505) (17,346) - (16,019) (63,026) (48) - -
- - - - - - - - - -
596 64,990 34,084 98,492 16,729 475,557 88,154,806 3,262,816 220,891 1,393,431
794 19,315 15,283 1,220 4,307 22,978 1,273,737 47,849 6,368 34,701390 - 116 - - 583 8,265,445 533,232 9,883 55,24332) (44) (52) - (46) (114) (1,441,220) (79,330) (1,137) (6,305)
- - - - - - (2,661,741) (309,353) (5,667) (31,680)- - - - - - 569,556 27,662 953 5,324
852 19,271 15,347 1,220 4,261 23,447 6,005,777 220,060 10,400 57,283
258 389 152 112 2 58 81,850 2,623 26 173- - - - - 11,257 2,539,007 365,506 4,391 31,666
110 19,660 15,499 1,332 4,263 34,762 8,626,634 588,189 14,817 89,122
706 84,650 49,583 99,824 20,992 510,319 96,781,440 3,851,005 235,708 1,482,553
591 1,280 2,520 25,812 160 13,431 14,464,765 163,063 - -
996 9,559 8,118 21,999 455 13,310 18,684,689 598,873 5,982 39,379- - - - - - - - - -- - - - - - - - - -
082 45 38 58 2 62 87,025 2,789 28 184
- - - - - - - - - -- - - - - - - - - -
669 10,884 10,676 47,869 617 26,803 33,236,479 764,725 6,010 39,563
654 2,258 19,070 7,245 4,468 390,430 7,259,390 465,314 2,766 44,410728 - - - - - - - - -
954 72,401 24,284 25,302 19,114 116,486 1,137,626 53,873 - 4,100- - - - - - 53,486,426 2,565,532 226,920 1,394,418
336 74,659 43,354 32,547 23,582 506,916 61,883,442 3,084,719 229,686 1,442,928
701 (893) (4,447) 19,408 (3,207) (23,400) 1,661,519 1,561 12 62
104 4,383 39,757 11,204 7,019 23,456 - - - -05) (70) (137) - (3) (56) (59,899) (1,561) (12) (62)
- - - - - - (1,601,620) - - -
78) (1,028) - - - - - - - -
422 2,392 35,173 30,612 3,809 - - - - -
728 - - - - - - - - -105 9,250 - - - - - - - -701 (893) (4,447) 19,408 (3,207) (23,400) 1,661,519 1,561 12 62
534 8,357 (4,447) 19,408 (3,207) (23,400) 1,661,519 1,561 12 62
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
10
Revenue Account for the year ended 31st March 2008Policyholders’ Account (Technical Account)
Particulars Schedule Previous Year Participating
Individual Individual Individual IndivAssurance Pension Assurance He
PREMIUMS EARNED - Net(a) Premium 1 53,452,422 3,535,562 67,680 68,279 32(b) Reinsurance ceded (Refer Schedule 16 Note 16) (92,595) (36,049) (739) (1,703)(c) Reinsurance accepted - - - -
SUB-TOTAL 53,359,827 3,499,513 66,941 66,576 32
INCOME FROM INVESTMENTS(a) Interest, Dividend & Rent - Gross 1,153,316 336,827 12,774 10,039(b) Profit on sale / redemption of investments 3,714,626 36,147 - -(c) (Loss on sale / redemption of investments) (1,055,011) (23,282) - (143)(d) Transfer/Gain on revaluation/ change in fair value (1,036,646) - - -(e) Other investment income 320,536 - - -
3,096,821 349,692 12,774 9,896
OTHER INCOME 52,239 22,755 339 136Contribution from the Shareholders’ account 972,355 - - -(Refer Schedule 16 Note 15)
SUB-TOTAL 4,121,415 372,447 13,113 10,032
TOTAL (A) 57,481,242 3,871,960 80,054 76,608 32
COMMISSION 2 9,466,813 424,943 1,472 4,896 6
OPERATING EXPENSES RELATED TO INSURANCE BUSINESS 3 10,730,189 895,903 10,855 18,488 3Provision for doubtful debts - - - -Bad Debts written off - - - -Provision for Fringe Benefit Tax 73,054 6,174 75 126Provisions (other than taxation) - - - -(a) For diminution in the value of investments (net) - - - -(b) Others - - - -
TOTAL (B) 20,270,056 1,327,020 12,402 23,510 9
BENEFIT PAID (Net) 4 6,985,351 303,276 1,338 9,596 2Interim Bonuses Paid 1,996 1,996 - -Change in valuation of liability in respect of life policiesin force (Refer Schedule 16 Note 1 (e) and Note 8 )(a) Gross 2,669,859 2,156,995 60,944 31,181 8(b) Fund Reserve (Refer Schedule 16 Note 1(e)) 26,175,201 - - -(c) Amount ceded in Re-insurance - - - -(d) Amount accepted in Re-insurance - - - -
TOTAL (C) 35,832,407 2,462,267 62,282 40,777 11
SURPLUS/ (DEFICIT ) (D) = (A) - (B) - (C) 1,378,779 82,673 5,370 12,321 11
Balance of previous year 564,521 532,747 - 27,437
APPROPRIATIONSReserve for lapsed unit linked policies unlikely to be revived (1,241,074) - - -(Refer Schedule 16 Note 1(e) and Note 8)Transfer to Shareholders’ account (31,303) (30,316) (987) -
Balance being funds for future appropriations 670,923 585,104 4,383 39,757 11
DETAILS OF TOTAL SURPLUSInterim Bonuses Paid (a) 1,996 1,996 - -Allocation of Bonus to policyholders (b) 281,728 272,843 8,885 -Surplus shown in the Revenue Account (c) 1,378,779 82,673 5,370 12,320 11
Total Surplus [ (a)+ (b)+ (c) ] 1,662,503 357,512 14,255 12,320 11
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
11
(Amount in Rs. ‘000 )
Participating Non Participating Linked
dual Individual Individual Individual Individual Group Individual Individual Group Groupnce Pension Assurance Health Annuity Assurance Assurance Pension Superannuation Gratuity
562 67,680 68,279 32,174 19,497 313,098 47,256,650 1,770,696 68,134 320,65249) (739) (1,703) (4) - (10,289) (43,746) (65) - -
- - - - - - - - - -
513 66,941 66,576 32,170 19,497 302,809 47,212,904 1,770,631 68,134 320,652
827 12,774 10,039 - 3,046 15,552 734,278 28,308 2,502 9,990147 - - - - 63 3,489,836 187,776 153 65182) - (143) - - (14) (969,045) (56,819) (1,088) (4,620)
- - - - - - (1,003,416) (36,802) 681 2,891- - - - - - 302,927 16,087 290 1,232
692 12,774 9,896 - 3,046 15,601 2,554,580 138,550 2,538 10,144
755 339 136 - 2 26 28,074 874 10 23- - - - - - 863,308 101,265 1,007 6,775
447 13,113 10,032 - 3,048 15,627 3,445,962 240,689 3,555 16,942
960 80,054 76,608 32,170 22,545 318,436 50,658,866 2,011,320 71,689 337,594
943 1,472 4,896 6,511 246 14,733 8,944,424 69,526 24 38
903 10,855 18,488 3,197 552 8,930 9,534,019 246,486 2,110 9,649- - - - - - - - - -- - - - - - - - - -
174 75 126 22 4 61 64,822 1,690 13 67- - - - - - - - - -- - - - - - - - - -- - - - - - - - - -
020 12,402 23,510 9,730 802 23,724 18,543,265 317,702 2,147 9,754
276 1,338 9,596 2,894 1,546 203,496 6,141,074 286,140 14,100 21,891996 - - - - - - - - -
995 60,944 31,181 8,343 13,178 71,425 310,562 17,432 (57) (144)- - - - - - 24,422,891 1,390,046 56,171 306,093- - - - - - - - - -- - - - - - - - - -
267 62,282 40,777 11,237 14,724 274,921 30,874,527 1,693,618 70,214 327,840
673 5,370 12,321 11,203 7,019 19,791 1,241,074 - (672) -
747 - 27,437 - - 3,665 - - 672 -
- - - - - - (1,241,074) - - -
16) (987) - - - - - - - -
104 4,383 39,757 11,204 7,019 23,456 - - - -
996 - - - - - - - - -843 8,885 - - - - - - - -673 5,370 12,320 11,204 7,019 19,791 1,241,074 - (672) -
512 14,255 12,320 11,204 7,019 19,791 1,241,074 - (672) -
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
12
Revenue Account for the year ended 31st March 2008Policyholders’ Account (Technical Account)
Notes to Financial statements 16
As required by Section 40-B of the Insurance Act, 1938, we certify that all expenses of Management in respect of Life Insurance business transactedin India by the Company have been fully debited to the Policyholders’ Revenue Account as expenses.
The accompanying notes and schedules form an integral part of the financial statements.
As per our report of even date attached
For Kirtane & Pandit For S R Batliboi & Co. For Bajaj Allianz Life Insurance Company LimitedChartered Accountants Chartered Accountants
Suhas Deshpande Hemal Shah Rahul Bajaj Kamesh GoyalPartner Partner Chairman Alternate Director andMembership No. 31787 Membership No. 42650 Chief Executive Officer
Ranjit Gupta Rajesh ViswanathanDirector Chief Financial Officer
Anil Singh Sameer BakshiAppointed Actuary Company Secretary
Place : Pune Place : Mumbai Place : PuneDate : 12th May 2008 Date : 12th May 2008 Date : 12th May 2008
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
13
Form A- PL
Profit & Loss account for the year ended 31st March 2008Shareholders’ Account (Non Technical Account)
(Amount in Rs. ‘000)
Particulars Current Current Previous Previous Year Year Year Year
Amounts transferred from the 32,706 31,303Policyholders’ Account (Technical Account)
INCOME FROM INVESTMENTS(a) Interest, Dividends & Rent - Gross 764,027 273,062(b) Profit on sale / redemption of investments 53,980 23,824(c) (Loss on sale / redemption of investments) (22,971) (19,763)(d) Transfer/Gain on revaluation / change in fair value - -
OTHER INCOME - -
TOTAL(A) 795,036 277,123
Expenses other than those directly related to theinsurance business (Refer Schedule 16 Note 11)Others 14,740 53,077Provisions (Other than Taxation) - -Contribution to the Policyholder’s Fund(Refer Schedule 16 Note 15)
ParticipatingIndividual Assurance - -Individual Pension - -
Non ParticipatingIndividual Assurance - -Individual Health - -Individual Annuity - -Group Assurance 11,257 -
LinkedIndividual Assurance 2,539,007 863,308Individual Pension 365,506 101,265Group Superannuation 4,391 1,007Group Gratuity 31,666 2,951,827 6,775 972,355
TOTAL(B) 2,966,567 1,025,432
PROFIT / (LOSS) before Tax (2,138,825) (717,006)
Provision for Taxation including Wealth Tax 80 27
PROFIT / (LOSS) after Tax (2,138,905) (717,033)
Balance at the beginning of the year (2,760,129) (2,043,096)
PROFIT/(LOSS) CARRIED FORWARD TO BALANCE SHEET (4,899,034) (2,760,129)
Earning Per Share (Basic & Diluted) (Refer Schedule 16 Note 18) (14.22) (4.77)
Notes to Financial statements 16
The accompanying notes and schedules form an integral part of the financial statements. As per our report of even date attached
For Kirtane & Pandit For S R Batliboi & Co. For Bajaj Allianz Life Insurance Company LimitedChartered Accountants Chartered Accountants
Suhas Deshpande Hemal Shah Rahul Bajaj Kamesh Goyal Ranjit GuptaPartner Partner Chairman Alternate Director and DirectorMembership No. 31787 Membership No. 42650 Chief Executive Officer
Rajesh Viswanathan Anil Singh Sameer BakshiChief Financial Officer Appointed Actuary Company Secretary
Place : Pune Place : Mumbai Place : PuneDate : 12th May 2008 Date : 12th May 2008 Date : 12th May 2008
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
14
Form A- BS
Balance sheet as at 31st March 2008(Amount in Rs. ‘000)
Particulars Schedule Current Current Previous PreviousYear Year Year Year
SOURCES OF FUNDS
SHAREHOLDERS’ FUNDSShare Capital 5 1,507,090 1,503,680Reserves and Surplus 6 10,599,550 5,501,600Credit/(Debit) Fair Value Change Account 102 85
SUB TOTAL 12,106,742 7,005,365
BORROWINGS 7 - -
POLICYHOLDERS’ FUNDSCredit/(Debit) Fair Value Change Account 99,460 15,443
Policy Liabilities (Refer Schedule 16 Note 8)Participating
Individual Assurance 7,956,912 5,493,958Individual Pension 283,864 211,463
Non ParticipatingIndividual Assurance 169,977 145,693Individual Health 33,645 8,343Individual Annuity 62,357 43,243Group Assurance 314,661 198,175
LinkedIndividual Assurance 1,728,642 591,016Individual Pension 74,888 21,015Group Superannuation - -Group Gratuity 4,100 10,629,046 - 6,712,906
Insurance Reserves - -
Provision For Linked LiabilitiesLinked Liabilites 109,527,505 48,845,768Fair Value Change 14,192 109,541,697 3,022,633 51,868,401
SUB TOTAL 120,270,203 58,596,750
FUNDS FOR FUTURE APPROPRIATIONSParticipating
Individual Assurance 877,422 585,104Individual Pension 2,392 4,383
Non ParticipatingIndividual Assurance 35,173 39,757Individual Health 30,612 11,204Individual Annuity 3,809 7,019Group Assurance - 23,456
LinkedIndividual Assurance - -Individual Pension - -Group Superannuation - -Group Gratuity - -
949,408 670,923Reserve for Lapsed unit linked policies 2,960,433 3,909,841 1,358,813 2,029,736unlikely to be revived
TOTAL 136,286,786 67,631,851
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
15
Form A- BS
Balance sheet as at 31st March 2008(Amount in Rs. ‘000)
Particulars Schedule Current Current Previous PreviousYear Year Year Year
APPLICATION OF FUNDS
INVESTMENTSShareholders’ 8 11,458,855 6,536,500Policyholders’ 8A
ParticipatingIndividual Assurance 8,974,379 6,162,724Individual Pension 287,815 220,101
Non ParticipatingIndividual Assurance 205,672 188,525Individual Health 64,511 19,658Individual Annuity 66,586 50,900Group Assurance 314,840 231,297
LinkedIndividual Assurance 4,690,975 2,152,260Individual Pension 75,066 21,112Group Superannuation 2,244 2,610Group Gratuity 4,880 1,571
14,686,968 9,050,758
ASSETS HELD TO COVER LINKED LIABILITIES 8B 109,541,697 51,868,401(Refer Schedule 16 Note 24)
LOANS 9 30,937 18,630
FIXED ASSETS 10Gross Block 1,644,267 1,043,272Less : Accumulated Depreciation 734,645 510,127
Net Block 10 909,622 533,145
Capital work in progress 181,056 2,549
1,090,678 535,694
CURRENT ASSETSCash and bank balances 11 3,785,262 4,198,042Advances and other Assets 12 1,310,069 854,477
Sub-Total(A) 5,095,331 5,052,519
LESS: CURRENT LIABILITES AND PROVISIONSCurrent liabilities 13 10,298,224 8,093,047Provisions 14 218,490 97,733
Sub-Total(B) 10,516,714 8,190,780
NET CURRENT ASSETS (C) = (A-B) (5,421,383) (3,138,261)
MISCELLANEOUS EXPENDITURE 15 - -(To the extent not written off or adjusted )
DEBIT BALANCE IN PROFIT & LOSS ACCOUNT 4,899,034 2,760,129(Shareholders’ account )
Total 136,286,786 67,631,851
Notes to Financial statements 16
The accompanying notes and schedules form an integral part of the financial statements. As per our report of even date attached
For Kirtane & Pandit For S R Batliboi & Co. For Bajaj Allianz Life Insurance Company LimitedChartered Accountants Chartered Accountants
Suhas Deshpande Hemal Shah Rahul Bajaj Kamesh Goyal Ranjit GuptaPartner Partner Chairman Alternate Director and DirectorMembership No. 31787 Membership No. 42650 Chief Executive Officer
Rajesh Viswanathan Anil Singh Sameer BakshiChief Financial Officer Appointed Actuary Company Secretary
Place : Pune Place : Mumbai Place : PuneDate : 12th May 2008 Date : 12th May 2008 Date : 12th May 2008
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
16
Sche
dule
s for
min
g pa
rt o
f fin
anci
al st
atem
ents
for t
he y
ear e
nded
31st
Mar
ch 2
008
Sche
dule
- 1
: Pre
miu
m (
Net
of S
ervi
ce T
ax)
(Am
ount
in R
s. ‘0
00 )
Part
icul
ars
Curr
ent Y
ear
Part
icip
atin
gN
on P
artic
ipat
ing
Link
ed
Indi
vidu
alIn
divi
dual
Indi
vidu
alIn
divi
dual
Indi
vidu
alG
roup
Indi
vidu
alIn
divi
dual
Gro
up S
uper
-G
roup
Assu
ranc
ePe
nsio
nAs
sura
nce
Hea
lthAn
nuity
Assu
ranc
eAs
sura
nce
Pens
ion
annu
atio
nG
ratu
ity
Firs
t Yea
r Pre
miu
m59
,198
,105
483,
699
1,68
411
,557
111,
379
-19
4,42
255
,015
,353
1,78
0,82
222
0,89
11,
378,
298
Rene
wal
Pre
miu
m30
,508
,296
2,94
8,08
663
,891
10,9
244,
459
-21
1,90
926
,551
,653
702,
241
-15
,133
Sing
le P
rem
ium
7,54
6,70
9-
-14
,108
-16
,729
85,2
456,
650,
826
779,
801
--
Tota
l Pre
miu
m97
,253
,110
3,43
1,78
565
,575
36,5
8911
5,83
816
,729
491,
576
88,2
17,8
323,
262,
864
220,
891
1,39
3,43
1
Prem
ium
Inco
me
from
Bus
ines
s writ
ten:
In In
dia
97,2
53,1
103,
431,
785
65,5
7536
,589
115,
838
16,7
2949
1,57
688
,217
,832
3,26
2,86
422
0,89
11,
393,
431
Out
side
Indi
a-
--
--
--
--
--
Tota
l Pre
miu
m97
,253
,110
3,43
1,78
565
,575
36,5
8911
5,83
816
,729
491,
576
88,2
17,8
323,
262,
864
220,
891
1,39
3,43
1
Part
icul
ars
Prev
ious
Yea
rPa
rtic
ipat
ing
Non
Par
ticip
atin
gLi
nked
Indi
vidu
alIn
divi
dual
Indi
vidu
alIn
divi
dual
Indi
vidu
alG
roup
Indi
vidu
alIn
divi
dual
Gro
up S
uper
-G
roup
Assu
ranc
ePe
nsio
nAs
sura
nce
Hea
lthAn
nuity
Assu
ranc
eAs
sura
nce
Pens
ion
annu
atio
nG
ratu
ity
Firs
t Yea
r Pre
miu
m31
,141
,315
944,
138
3,37
99,
882
20,8
60-
184,
523
28,9
33,9
8566
1,78
168
,134
314,
633
Rene
wal
Pre
miu
m10
,425
,065
2,59
1,42
464
,301
8,73
811
,314
-70
,696
7,39
9,31
027
4,26
3-
5,01
9
Sing
le P
rem
ium
11,8
86,0
42-
-49
,659
-19
,497
57,8
7910
,923
,355
834,
652
-1,
000
Tota
l Pre
miu
m53
,452
,422
3,53
5,56
267
,680
68,2
7932
,174
19,4
9731
3,09
847
,256
,650
1,77
0,69
668
,134
320,
652
Prem
ium
Inco
me
from
Bus
ines
s writ
ten:
In In
dia
53,4
52,4
223,
535,
562
67,6
8068
,279
32,1
7419
,497
313,
098
47,2
56,6
501,
770,
696
68,1
3432
0,65
2
Out
side
Indi
a-
--
--
--
--
--
Tota
l Pre
miu
m53
,452
,422
3,53
5,56
267
,680
68,2
7932
,174
19,4
9731
3,09
847
,256
,650
1,77
0,69
668
,134
320,
652
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
17
Sche
dule
s for
min
g pa
rt o
f fin
anci
al st
atem
ents
for t
he y
ear e
nded
31st
Mar
ch 2
008
Sche
dule
- 2
: Com
mis
sion
s(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Curr
ent Y
ear
Part
icip
atin
gN
on P
artic
ipat
ing
Link
ed
Indi
vidu
alIn
divi
dual
Indi
vidu
alIn
divi
dual
Indi
vidu
alG
roup
Indi
vidu
alIn
divi
dual
Gro
up S
uper
-G
roup
Assu
ranc
ePe
nsio
nAs
sura
nce
Hea
lthAn
nuity
Assu
ranc
eAs
sura
nce
Pens
ion
annu
atio
nG
ratu
ity
Com
mis
sion
Pai
dD
irect
- Firs
t yea
r pre
miu
m13
,719
,996
151,
758
175
2,23
429
,870
-13
,431
13,3
79,7
0114
2,82
7-
-- R
enew
al P
rem
ium
1,17
9,72
114
6,55
91,
107
531
186
--
1,01
4,48
116
,857
--
- Sin
gle
Prem
ium
88,9
25-
--
-16
0-
85,3
863,
379
--
Add:
Com
mis
sion
on
Rein
sura
nce
Acce
pted
--
--
--
--
--
-Le
ss: C
omm
issi
on o
n Re
insu
ranc
e Ce
ded
(20,
020)
(726
)(2
)(2
45)
(4,2
44)
--
(14,
803)
--
-(R
efer
Sch
edul
e 16
Not
e 16
)
Net
Com
mis
sion
14,9
68,6
2229
7,59
11,
280
2,52
025
,812
160
13,4
3114
,464
,765
163,
063
--
Brea
kup
of co
mm
issi
on e
xpen
ses (
Gro
ss) i
ncur
red
to p
rocu
re b
usin
ess i
s fur
nish
ed b
elow
(*)
Agen
ts7,
108,
957
Brok
ers
33,2
28Co
rpor
ate
Agen
cy6,
934,
091
Refe
rral
912,
366
Tota
l14
,988
,642
Not
e : C
omm
issi
on o
n Fi
rst Y
ear p
rem
ium
incl
udes
refe
rral
fees
am
ount
ing
to R
s. 9
12,3
66 (P
revi
ous y
ear 6
22,5
02).
* Inf
orm
atio
n ac
ross
line
of b
usin
ess h
as n
ot b
een
disc
lose
d as
info
rmat
ions
is n
ot re
adily
ava
ilabl
e.
Part
icul
ars
Prev
ious
Yea
rPa
rtic
ipat
ing
Non
Par
ticip
atin
gLi
nked
Indi
vidu
alIn
divi
dual
Indi
vidu
alIn
divi
dual
Indi
vidu
alG
roup
Indi
vidu
alIn
divi
dual
Gro
up S
uper
-G
roup
Assu
ranc
ePe
nsio
nAs
sura
nce
Hea
lthAn
nuity
Assu
ranc
eAs
sura
nce
Pens
ion
annu
atio
nG
ratu
ity
Com
mis
sion
Pai
dD
irect
- Firs
t yea
r pre
miu
m8,
952,
028
288,
936
311
3,69
86,
023
-14
,733
8,58
0,40
357
,862
2438
- Ren
ewal
Pre
miu
m39
5,61
813
6,75
91,
163
420
489
--
252,
239
4,54
8-
--S
ingl
e Pr
emiu
m12
8,02
1-
-96
2-
246
-11
9,69
67,
117
--
Add:
Com
mis
sion
on
Rein
sura
nce
Acce
pted
--
--
--
--
--
-Le
ss: C
omm
issi
on o
n Re
insu
ranc
e Ce
ded
(8,8
54)
(752
)(2
)(1
84)
(1)
--
(7,9
14)
(1)
--
(Ref
er S
ched
ule
16 N
ote
16)
Net
Com
mis
sion
9,46
6,81
342
4,94
31,
472
4,89
66,
511
246
14,7
338,
944,
424
69,5
2624
38
Brea
kup
of co
mm
issi
on e
xpen
ses (
Gro
ss) i
ncur
red
to p
rocu
re b
usin
ess i
s fur
nish
ed b
elow
(*)
Agen
ts5,
876,
357
Brok
ers
-Co
rpor
ate
Agen
cy2,
976,
808
Refe
rral
622,
502
Tota
l9,
475,
667
Not
e : C
omm
issi
on o
n Fi
rst Y
ear p
rem
ium
incl
udes
refe
rral
fees
am
ount
ing
to R
s. 6
22,5
02 (P
revi
ous y
ear 1
56,6
66).
* Inf
orm
atio
n ac
ross
line
of b
usin
ess h
as n
ot b
een
disc
lose
d as
info
rmat
ions
is n
ot re
adily
ava
ilabl
e.
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
18
Sche
dule
s for
min
g pa
rt o
f fin
anci
al st
atem
ents
for t
he y
ear e
nded
31st
Mar
ch 2
008
Sche
dule
- 3
: Ope
ratin
g Ex
pens
es R
elat
ed T
o In
sura
nce
Busin
ess
(Ref
er S
ched
ule
16 N
ote
10)
(Am
ount
in R
s. ‘0
00 )
Part
icul
ars
Curr
ent Y
ear
Part
icip
atin
gN
on P
artic
ipat
ing
Link
ed
Indi
vidu
alIn
divi
dual
Indi
vidu
alIn
divi
dual
Indi
vidu
alG
roup
Indi
vidu
alIn
divi
dual
Gro
up S
uper
-G
roup
Assu
ranc
ePe
nsio
nAs
sura
nce
Hea
lthAn
nuity
Assu
ranc
eAs
sura
nce
Pens
ion
annu
atio
nG
ratu
ity
Empl
oyee
s’ re
mun
erat
ion,
wel
fare
ben
efits
and
othe
r man
pow
er co
sts (
*)6,
898,
081
227,
776
3,29
52,
798
4,32
315
64,
586
6,43
3,34
420
6,17
72,
061
13,5
65
Trav
el, c
onve
yanc
e an
d ve
hicl
e ru
nnin
gex
pens
es42
1,87
313
,930
201
171
264
1028
039
3,45
212
,609
126
830
Trai
ning
exp
ense
s51
1,31
416
,884
244
207
320
1234
047
6,86
615
,283
153
1,00
5
Rent
s, ra
tes a
nd ta
xes
2,24
1,98
874
,031
1,07
190
91,
405
511,
491
2,09
0,94
067
,011
670
4,40
9
Repa
irs13
2,61
34,
379
6354
833
8812
3,67
83,
964
4026
1
Prin
ting
and
stat
ione
ry34
5,94
311
,423
165
140
217
823
032
2,63
710
,340
103
680
Com
mun
icat
ion
expe
nses
3,87
2,97
412
7,88
01,
857
1,56
92,
418
802,
587
3,61
2,03
511
5,76
31,
157
7,62
8
Lega
l and
pro
fess
iona
l cha
rges
38,9
7797
514
129,
473
120
27,5
3388
29
58
Med
ical
fees
73,8
502,
439
3530
462
4968
,875
2,20
722
145
Audi
tors
’ fee
s, ex
pens
es,e
tc.
a)as
aud
itor
2,50
081
11
2-
22,
332
751
5b)
as a
dvis
er o
r in
any o
ther
capa
city
,in
resp
ect o
f-
--
--
--
--
--
i)Ta
xatio
n M
atte
rs-
--
--
--
--
--
ii)In
sura
nce
Mat
ters
--
--
--
--
--
-iii
)M
anag
emen
t Ser
vice
s; a
nd-
--
--
--
--
--
c)in
any
oth
er ca
paci
ty-
--
--
--
--
--
d)ou
t of p
ocke
t exp
ense
s10
55
--
--
-97
3-
-
Adve
rtis
emen
t and
pub
licity
368,
309
12,1
6217
614
923
18
245
343,
496
11,0
0811
072
4
Inte
rest
and
ban
k cha
rges
199,
879
6,60
095
8112
55
133
186,
413
5,97
460
393
Oth
ers
a)In
form
atio
n te
chno
logy
exp
ense
s53
2,77
217
,592
254
216
334
1235
449
6,87
915
,924
159
1,04
8b)
Insu
ranc
e, w
ater
and
ele
ctric
ity ch
arge
s16
1,33
65,
327
7765
101
410
715
0,46
84,
822
4831
7c)
Polic
y sta
mps
146,
830
4,84
870
6092
398
136,
937
4,38
944
289
d)Se
curit
y and
hou
seke
epin
g14
8,00
64,
887
7160
933
9813
8,03
54,
424
4429
1e)
Mar
ketin
g ex
pens
es3,
298,
178
108,
896
1,58
71,
335
2,05
363
2,21
23,
075,
957
98,5
8598
66,
504
f)M
isce
llane
ous e
xpen
ses
421,
382
13,4
0417
516
927
729
239
393,
521
12,6
6512
178
2
Dep
reci
atio
n (R
efer
Sch
edul
e 10
)22
6,45
07,
477
108
9214
25
151
211,
194
6,76
868
445
Tota
l20
,043
,360
660,
996
9,55
98,
118
21,9
9945
513
,310
18,6
84,6
8959
8,87
35,
982
39,3
79
* inc
lude
s out
sour
ced
pers
onal
cost
of R
s. 5
,56,
534
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
19
Sche
dule
s for
min
g pa
rt o
f fin
anci
al st
atem
ents
for t
he y
ear e
nded
31st
Mar
ch 2
008
Sche
dule
- 3
: Ope
ratin
g Ex
pens
es R
elat
ed T
o In
sura
nce
Busin
ess
(Ref
er S
ched
ule
16 N
ote
10)
(Am
ount
in R
s. ‘0
00 )
Part
icul
ars
Prev
ious
Yea
rPa
rtic
ipat
ing
Non
Par
ticip
atin
gLi
nked
Indi
vidu
alIn
divi
dual
Indi
vidu
alIn
divi
dual
Indi
vidu
alG
roup
Indi
vidu
alIn
divi
dual
Gro
up S
uper
-G
roup
Assu
ranc
ePe
nsio
nAs
sura
nce
Hea
lthAn
nuity
Assu
ranc
eAs
sura
nce
Pens
ion
annu
atio
nG
ratu
ity
Empl
oyee
s’ re
mun
erat
ion,
wel
fare
ben
efits
and
othe
r man
pow
er co
sts (
*)4,
439,
439
375,
209
4,58
57,
680
1,33
223
03,
690
3,93
9,16
110
2,68
780
34,
062
Trav
el, c
onve
yanc
e an
d ve
hicl
e ru
nnin
gex
pens
es31
6,60
026
,758
327
548
9516
263
280,
923
7,32
357
290
Trai
ning
exp
ense
s57
8,34
848
,880
597
1,00
017
430
481
513,
174
13,3
7810
552
9
Rent
s, ra
tes a
nd ta
xes
1,31
3,91
711
3,24
11,
239
2,38
040
368
1,19
01,
166,
135
28,0
1020
61,
045
Repa
irs93
,814
7,92
997
162
285
7883
,242
2,17
017
86
Prin
ting
and
stat
ione
ry21
6,13
618
,267
223
374
6511
180
191,
780
4,99
939
198
Com
mun
icat
ion
expe
nses
1,03
7,04
087
,648
1,07
11,
794
311
5486
292
0,17
623
,987
188
949
Lega
l and
pro
fess
iona
l cha
rges
13,4
231,
135
1423
41
1111
,911
310
212
Med
ical
fees
49,4
864,
182
5185
153
4143
,910
1,14
59
45
Audi
tors
’ fee
s, ex
pens
es,e
tc.
a)as
aud
itor
1,50
012
62
3-
-1
1,33
235
-1
b)as
adv
isor
or i
n an
y ot
her c
apac
ity,
in re
spec
t of
i)Ta
xatio
n M
atte
rs-
--
--
--
--
--
ii)In
sura
nce
Mat
ters
--
--
--
--
--
-iii
)M
anag
emen
t Ser
vice
s; a
nd-
--
--
--
--
--
c)in
any
oth
er ca
paci
ty-
--
--
--
--
--
d)ou
t of p
ocke
t exp
ense
s37
632
--
--
-33
59
--
Adve
rtis
emen
t and
pub
licity
164,
674
13,9
1717
028
549
913
714
6,11
73,
809
3015
1In
tere
st a
nd b
ank c
harg
es11
9,28
410
,082
123
206
366
9910
5,84
22,
759
2210
9O
ther
sa)
Info
rmat
ion
tech
nolo
gy e
xpen
ses
227,
693
19,2
4423
539
468
1218
920
2,03
55,
267
4120
8b)
Insu
ranc
e, w
ater
and
ele
ctric
ity ch
arge
s96
,217
8,13
299
166
295
8085
,375
2,22
617
88c)
Polic
y sta
mps
78,6
976,
651
8113
624
465
69,8
301,
820
1472
d)Se
curit
y and
hou
seke
epin
g68
,392
5,78
070
118
214
5760
,685
1,58
212
63e)
Mar
ketin
g ex
pens
es1,
332,
795
112,
644
1,37
72,
306
400
691,
108
1,18
2,60
230
,828
241
1,22
0f)
Mis
cella
neou
s exp
ense
s39
6,08
720
,303
302
506
8715
243
364,
174
9,83
327
335
1
Dep
reci
atio
n (R
efer
Sch
edul
e 10
)18
6,27
115
,743
192
322
5610
155
165,
280
4,30
934
170
Tota
l10
,730
,189
895,
903
10,8
5518
,488
3,19
755
28,
930
9,53
4,01
924
6,48
62,
110
9,64
9
* inc
lude
s out
sour
ced
pers
onal
cos
t of R
s. 5
38,6
19 /-
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
20
Sche
dule
s for
min
g pa
rt o
f fin
anci
al st
atem
ents
for t
he y
ear e
nded
31st
Mar
ch 2
008
Sche
dule
- 4
: Ben
efits
pai
d (n
et)
(Am
ount
in R
s. ‘0
00 )
Part
icul
ars
Curr
ent Y
ear
Part
icip
atin
gN
on P
artic
ipat
ing
Link
edIn
divi
dual
Indi
vidu
alIn
divi
dual
Indi
vidu
alIn
divi
dual
Gro
upIn
divi
dual
Indi
vidu
alG
roup
Sup
er-
Gro
upAs
sura
nce
Pens
ion
Assu
ranc
eH
ealth
Annu
ityAs
sura
nce
Assu
ranc
ePe
nsio
nan
nuat
ion
Grat
uity
Insu
ranc
e Cl
aim
s:a)
Clai
ms b
y Dea
th1,
333,
944
85,1
181,
161
17,4
665,
056
1,51
139
1,34
980
4,95
527
,328
--
b)Cl
aim
s by M
atur
ity21
7,03
921
5,72
0-
1,31
6-
3-
--
--
c)An
nuiti
es/P
ensio
ns p
aym
ent
2,95
4-
--
-2,
954
--
--
-d)
UL W
ithdr
awal
s/Su
rren
ders
& O
ther
Ben
efits
6,99
7,17
341
,012
1,62
458
85,
633
--
6,46
3,15
443
7,98
62,
766
44,4
10(A
mou
nt ce
ded
in re
insu
ranc
e) :
a)Cl
aim
s by D
eath
(32,
441)
(19,
514)
(527
)(3
00)
(2,4
63)
-(9
19)
(8,7
18)
--
-b)
Clai
ms b
y Mat
urity
--
--
--
--
--
-c)
Annu
ities
/Pen
sions
pay
men
t-
--
--
--
--
--
d)U
L With
draw
als/
Surr
ende
rs &
Oth
er B
enef
its(4
,664
)(3
,682
)-
-(9
81)
--
(1)
--
-A
mou
nt a
ccep
ted
in re
insu
ranc
e:a)
Clai
ms b
y Dea
th-
--
--
--
--
--
b)Cl
aim
s by M
atur
ity-
--
--
--
--
--
c)An
nuiti
es/P
ensio
ns p
aym
ent,
--
--
--
--
--
-d)
UL W
ithdr
awal
s/Su
rren
ders
& O
ther
Ben
efits
--
--
--
--
--
-
Tota
l8,
514,
005
318,
654
2,25
819
,070
7,24
54,
468
390,
430
7,25
9,39
046
5,31
42,
766
44,4
10Be
nefit
s pa
id to
cla
iman
ts:
In In
dia
8,51
4,00
531
8,65
42,
258
19,0
707,
245
4,46
839
0,43
07,
259,
390
465,
314
2,76
644
,410
Out
side
Indi
a-
--
--
--
--
--
Tota
l8,
514,
005
318,
654
2,25
819
,070
7,24
54,
468
390,
430
7,25
9,39
046
5,31
42,
766
44,4
10
Part
icul
ars
Prev
ious
Yea
rPa
rtic
ipat
ing
Non
Par
ticip
atin
gLi
nked
Indi
vidu
alIn
divi
dual
Indi
vidu
alIn
divi
dual
Indi
vidu
alG
roup
Indi
vidu
alIn
divi
dual
Gro
up S
uper
-G
roup
Assu
ranc
ePe
nsio
nAs
sura
nce
Hea
lthAn
nuity
Assu
ranc
eAs
sura
nce
Pens
ion
annu
atio
nGr
atui
tyIn
sura
nce
Clai
ms:
a)Cl
aim
s by D
eath
601,
222
120,
750
1,21
69,
407
660
-20
5,90
119
2,46
662
,173
1,64
97,
000
b)Cl
aim
s by M
atur
ity18
4,15
418
3,93
5-
219
--
--
--
-c)
Annu
ities
/Pen
sions
pay
men
t1,
836
7-
283
-1,
546
--
--
-d)
UL W
ithdr
awal
s/Su
rren
ders
& O
ther
Ben
efits
6,22
8,66
222
,122
480
571
2,23
4-
-5,
951,
946
223,
967
12,4
5114
,891
(Am
ount
cede
d in
rein
sura
nce)
:a)
Clai
ms b
y Dea
th(1
9,44
3)(1
2,77
8)(3
58)
(564
)-
-(2
,405
)(3
,338
)-
--
b)Cl
aim
s by M
atur
ity-
--
--
--
--
--
c)An
nuiti
es/P
ensio
ns p
aym
ent
--
--
--
--
--
-d)
Clai
ms b
y Sur
rend
ers
--
--
--
--
--
-e)
UL W
ithdr
awal
s/Su
rren
ders
& O
ther
Ben
efits
(11,
080)
(10,
760)
-(3
20)
--
--
--
-A
mou
nt a
ccep
ted
in re
insu
ranc
e:a)
Clai
ms b
y Dea
th-
--
--
--
--
--
b)Cl
aim
s by M
atur
ity-
--
--
--
--
--
c)An
nuiti
es/P
ensio
ns p
aym
ent,
--
--
--
--
--
-d)
UL W
ithdr
awal
s/Su
rren
ders
& O
ther
Ben
efits
--
--
--
--
--
-
Tota
l6,
985,
351
303,
276
1,33
89,
596
2,89
41,
546
203,
496
6,14
1,07
428
6,14
014
,100
21,8
91Be
nefit
s pa
id to
cla
iman
ts:
In In
dia
6,98
5,35
130
3,27
61,
338
9,59
62,
894
1,54
620
3,49
66,
141,
074
286,
140
14,1
0021
,891
Out
side
Indi
a-
--
--
--
--
-
Tota
l6,
985,
351
303,
276
1,33
89,
596
2,89
41,
546
203,
496
6,14
1,07
428
6,14
014
,100
21,8
91
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
21
Schedules forming part of financial statements for the year ended 31st March 2007
Schedule - 5A : Pattern of Shareholding (As Certified by Management)
Shareholder Current Year Previous Year
Number of % of Number of % ofShares Holding Shares Holding
PROMOTERS:
Indian
Bajaj Auto Limited 111,358,900 73.89 111,272,320 74
Bajaj Finserv Limited 165,760 0.11 - -
Foreign
Allianz SE 39,184,340 26 39,095,680 26
TOTAL 150,709,000 100 150,368,000 100
Note : Share certificates in respect of 111,358,900 shares issued in the name of the erstwhile Bajaj Auto Limited are to be transferred to Bajaj FinservLimited under a scheme of arrangement approved by the High Court of the Judicature of Mumbai and by the Insurance Regulatory and DevelopmentAuthority (IRDA).
During the current year, the Company has received the copy of the High Court of Judicature Mumbai vide order date 18/12/2007 granting approvalto the scheme of arrangement whereby the investment in the equity of the company held by erstwhile Bajaj Auto Ltd. is demerged and vests withBajaj Finserv Ltd. with effect from April 1, 2007, which transfer has also been approved by the Insurance Regulatory and Development Authority(‘IRDA’) . As at March 31, 2008, actual transfer of shares are pending completion of formalities.
Schedules forming part of financial statements for the year ended 31st March 2008
Schedule - 5 : Share Capital
(Amount in Rs. ‘000 )
Particulars Current Year Previous Year
Authorised Capital
200,000,000 Equity Shares of Rs. 10/- Each 2,000,000 2,000,000
Issued , Subscribed, Called and Paid up Capital
Equity Shares of Rs. 10/- Each 1,507,090 1,503,680
150,709,000 (Previous Year 150,368,000) Equity Shares of Rs.10/- Each
Less : Preliminary Expenses (to the extent not written off) - -
Total 1,507,090 1,503,680
Note : Of the above share capital as of 31st March 2008, 111,358,900 (Previous year: 111,272,320) equity shares are held by the holding Companyerstwhile Bajaj Auto Limited, and to be transferred in favour of Bajaj Finserv Limited under a scheme of arrangement approved by the High Courtof the Judicature Mumbai and by the Insurance Regulatory and Development Authority (IRDA).
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
22
Schedules forming part of financial statements for the year ended 31st March 2008
Schedule - 7 : Borrowings
(Amount in Rs. ‘000)
Particulars Current Year Previous Year
Debentures/Bonds - -
Banks - -
Financial Institutions - -
Others - -
TOTAL - -
Schedules forming part of financial statements for the year ended 31st March 2008
Schedule - 6 : Reserves and Surplus
(Amount in Rs. ‘000)
Particulars Current Year Current Year Previous Year Previous Year
Capital Reserve - -
Capital Redemption Reserve - -
Share Premium
Opening balance 5,501,600 3,495,310
Add: Share Premium received during the year 5,097,950 10,599,550 2,006,290 5,501,600
Revaluation Reserve - -
General Reserve - -
Catastrophe Reserve - -
Other Reserve - -
Balance of Profit & Loss Account - -
Total 10,599,550 5,501,600
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
23
Schedules forming part of financial statements for the year ended 31st March 2008
Schedule - 8 : Investments - Shareholders’
(Amount in Rs. ‘000)
Particulars Current Year Previous Year
LONG TERM INVESTMENTS
Government securities and Government 4,549,343 910,129
guaranteed bonds including Treasury Bills(Refer Note 1 below)
Other Approved Securities - -
Other Investmentsa) Shares
aa) Equity - -bb) Preference - -
b) Mutual Funds - -c) Derivative Instruments - -d) Debentures / Bonds 1,123,342 473,914e) Other Securities
aa) Fixed Deposit with banks - 250,000f) Subsidiaries - -
Investment Properties - Real Estate - -
Investments in Infrastructure and Social Sector Bonds 1,505,834 789,598
Other than Approved Investments 100,000 169,102
SHORT TERM INVESTMENTS
Government securities and Government 283,509 1,722,015guaranteed bonds including Treasury Bills
Other Approved Securities - -
Other Investmentsa) Shares
aa) Equity - -bb) Preference - -
b) Mutual Funds - -c) Derivative Instruments - -d) Debentures / Bonds 2,024,033 1,269,615e) Other Securities
aa) Fixed Deposit with banks 1,079,900 200,000f) Subsidiaries - -
Investment Properties - Real Estate - -
Investments in Infrastructure and Social Sector Bonds 346,395 491,089
Other than Approved Investmentsaa) Bonds 54,397 25,136bb) Mutual Funds 392,102 235,902
Total 11,458,855 6,536,500
INVESTMENTS
In India 11,458,855 6,536,500
Outside India - -
Total 11,458,855 6,536,500
Notes :1. Includes Rs. 103,333 (Previous Year Rs. 106,040 ) deposited with Deutsche Bank AG, persuant to Section 7 of the Insurance Act 1938 (Refer
Schedule 16 Note 6 )2. Market Value of the above total investments of Rs. 11,458,855 (Previous Year Rs. 6,536,500 ) is Rs. 11,367,648 (Previous Year Rs. 6,480,926 )3. Historical cost of investment valued on fair value basis is Rs. 392,000 (Previous Year Rs. 235,817)
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
24
Sche
dule
s for
min
g pa
rt o
f fin
anci
al st
atem
ents
for t
he y
ear e
nded
31st
Mar
ch 2
008
Sche
dule
- 8A
: In
vest
men
ts -
Polic
yhol
ders
’(A
mou
nt in
Rs.
‘000
)Pa
rtic
ular
sCu
rren
t Yea
rPa
rtic
ipat
ing
Non
Par
ticip
atin
gLi
nked
Indi
vidu
alIn
divi
dual
Indi
vidu
alIn
divi
dual
Indi
vidu
alG
roup
Indi
vidu
alIn
divi
dual
Gro
up S
uper
-G
roup
Assu
ranc
ePe
nsio
nAs
sura
nce
Hea
lthAn
nuity
Assu
ranc
eAs
sura
nce
Pens
ion
annu
atio
nGr
atui
tyLO
NG
TERM
INVE
STM
ENTS
Gov
ernm
ent s
ecur
ities
and
Gov
ernm
ent
8,59
1,97
55,
189,
707
201,
241
166,
798
19,5
1154
,120
142,
141
2,74
2,28
170
,066
1,73
14,
379
guar
ante
ed b
onds
incl
udin
g Tr
easu
ry B
ills
Oth
er A
ppro
ved
Secu
ritie
s(a
)Sh
ares
(aa)
Equi
ty61
2,83
061
2,83
0-
--
--
--
--
(bb)
Pre
fere
nce
--
--
--
--
--
-(b
)M
utua
l fun
ds-
--
--
--
--
--
(c)
Der
ivat
ive
Inst
rum
ents
--
--
--
--
--
-(d
)D
eben
ture
s / B
onds
1,98
7,14
21,
252,
312
10,0
0077
2-
745
61,4
4065
6,87
35,
000
--
(e)
Oth
er Se
curit
ies
(aa)
Fixe
d D
epos
its w
ith B
anks
--
--
--
--
--
-(f)
Subs
idia
ries
--
--
--
--
--
-(g
)In
vest
men
t Pro
pert
ies -
Rea
l Est
ate
244,
943
244,
943
--
--
--
--
-In
vest
men
ts in
Infr
astr
uctu
re &
Soci
al S
ecto
r Bon
ds2,
133,
134
1,23
7,57
976
,574
38,1
0245
,000
11,7
2132
,916
691,
242
--
-O
ther
than
App
rove
d In
vest
men
ts- B
onds
100,
000
100,
000
--
--
--
--
-- E
quity
116,
548
116,
548
--
--
--
--
-SH
ORT
TER
M IN
VEST
MEN
TSG
over
nmen
t sec
uriti
es a
nd G
over
nmen
t53
9,52
343
,947
--
--
49,6
5144
5,51
1-
313
101
guar
ante
ed b
onds
incl
udin
g Tr
easu
ry B
ills
Oth
er A
ppro
ved
Secu
ritie
s(a
)Sh
ares
(aa)
Equi
ty-
--
--
--
--
--
(bb)
Pre
fere
nce
--
--
--
--
--
-(b
)M
utua
l Fun
ds-
--
--
--
--
--
(c)
Der
ivat
ive
Inst
rum
ents
--
--
--
--
--
-(d
)D
eben
ture
s / B
onds
100,
344
50,3
44-
--
--
50,0
00-
--
(e)
Oth
er Se
curit
ies
50,0
00-
--
--
-50
,000
--
-(f)
Subs
idia
ries
--
--
--
--
--
-(g
)In
vest
men
t Pro
pert
ies -
Rea
l Est
ate
--
--
--
--
--
-In
vest
men
ts in
Infr
astr
uctu
re &
Soci
al S
ecto
r Bon
ds21
0,52
912
6,16
9-
--
-28
,692
55,0
68-
200
400
Oth
er th
an A
ppro
ved
Inve
stm
ents
--
--
--
--
--
-
TOTA
L14
,686
,968
8,97
4,37
928
7,81
520
5,67
264
,511
66,5
8631
4,84
04,
690,
975
75,0
662,
244
4,88
0
In In
dia
14,6
86,9
688,
974,
379
287,
815
205,
672
64,5
1166
,586
314,
840
4,69
0,97
575
,066
2,24
44,
880
Out
side
Indi
a-
--
--
--
--
--
Tota
l14
,686
,968
8,97
4,37
928
7,81
520
5,67
264
,511
66,5
8631
4,84
04,
690,
975
75,0
662,
244
4,88
0
Not
e:1.
Mar
ket V
alue
of t
he a
bove
tota
l inv
estm
ents
of R
s. 1
4,68
6,96
8 (P
revi
ous y
ear R
s. 9
,050
,758
) is R
s. 1
4,50
0,50
5 (P
revi
ous y
ear R
s. 8
,751
,312
).2.
His
toric
al co
st o
f inv
estm
ent v
alue
d on
fair
valu
e ba
sis i
s Rs.
629
,918
(Pre
viou
s yea
r Rs.
582,
404)
.
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
25
Sche
dule
s for
min
g pa
rt o
f fin
anci
al st
atem
ents
for t
he y
ear e
nded
31st
Mar
ch 2
008
Sche
dule
- 8A
: In
vest
men
ts -
Polic
yhol
ders
’(A
mou
nt in
Rs.
‘000
)Pa
rtic
ular
sPr
evio
us Y
ear
Part
icip
atin
gN
on P
artic
ipat
ing
Link
edIn
divi
dual
Indi
vidu
alIn
divi
dual
Indi
vidu
alIn
divi
dual
Gro
upIn
divi
dual
Indi
vidu
alG
roup
Sup
er-
Gro
upAs
sura
nce
Pens
ion
Assu
ranc
eH
ealth
Annu
ityAs
sura
nce
Assu
ranc
ePe
nsio
nan
nuat
ion
Grat
uity
LON
G T
ERM
INVE
STM
ENTS
Gov
ernm
ent s
ecur
ities
and
Gov
ernm
ent
5,05
6,84
53,
689,
642
185,
101
128,
213
19,6
5850
,900
155,
932
817,
460
8,56
31,
036
340
guar
ante
ed b
onds
incl
udin
g Tr
easu
ry B
ills
Oth
er A
ppro
ved
Secu
ritie
s(a
)Sh
ares
(aa)
Equi
ty59
7,84
759
7,84
7-
--
--
--
--
(bb)
Pre
fere
nce
--
--
--
--
--
-(b
)M
utua
l fun
ds-
--
--
--
--
--
(c)
Der
ivat
ive
Inst
rum
ents
--
--
--
--
--
-(d
)D
eben
ture
s / B
onds
776,
943
736,
943
10,0
00-
--
-30
,000
--
-(e
)O
ther
Secu
ritie
s(a
a) Fi
xed
Dep
osits
with
Ban
ks50
,000
--
--
--
50,0
00-
--
(f)Su
bsid
iarie
s-
--
--
--
--
--
(g)
Inve
stm
ent P
rope
rtie
s - R
eal E
stat
e16
7,46
516
7,46
5-
--
--
--
--
Inve
stm
ents
in In
fras
truc
ture
&So
cial
Sec
tor B
onds
1,00
0,57
777
0,60
025
,000
35,0
00-
-3,
893
165,
500
-19
538
9O
ther
than
App
rove
d In
vest
men
ts- B
onds
100,
000
100,
000
--
--
--
--
-- E
quity
--
--
--
--
--
-SH
ORT
TER
M IN
VEST
MEN
TSG
over
nmen
t sec
uriti
es a
nd G
over
nmen
t43
5,52
4-
-25
,312
--
55,4
8333
9,95
912
,549
1,37
984
2gu
aran
teed
bon
ds in
clud
ing
Trea
sury
Bill
sO
ther
App
rove
d Se
curit
ies
(a)
Shar
es(a
a) Eq
uity
--
--
--
--
--
-(b
b) P
refe
renc
e-
--
--
--
--
--
(b)
Mut
ual F
unds
--
--
--
--
--
-(c
)D
eriv
ativ
e In
stru
men
ts-
--
--
--
--
--
(d)
Deb
entu
res /
Bon
ds66
4,95
550
,000
--
--
15,9
8959
8,96
6-
--
(e)
Oth
er Se
curit
ies
--
--
--
--
--
-(f)
Subs
idia
ries
--
--
--
--
--
-(g
)In
vest
men
t Pro
pert
ies -
Rea
l Est
ate
--
--
--
--
--
-In
vest
men
ts in
Infr
astr
uctu
re &
Soci
al S
ecto
r Bon
ds20
0,60
250
,227
--
--
-15
0,37
5-
--
Oth
er th
an A
ppro
ved
Inve
stm
ents
--
--
--
--
--
-
TOTA
L9,
050,
758
6,16
2,72
422
0,10
118
8,52
519
,658
50,9
0023
1,29
72,
152,
260
21,1
122,
610
1,57
1
In In
dia
9,05
0,75
86,
162,
724
220,
101
188,
525
19,6
5850
,900
231,
297
2,15
2,26
021
,112
2,61
01,
571
Out
side
Indi
a-
--
--
--
--
--
Tota
l9,
050,
758
6,16
2,72
422
0,10
118
8,52
519
,658
50,9
0023
1,29
72,
152,
260
21,1
122,
610
1,57
1
Not
e:1.
Mar
ket V
alue
of t
he a
bove
tota
l inv
estm
ents
of R
s. 9
,050
,758
(Pre
viou
s yea
r Rs.
4,7
66,1
23) i
s Rs.
8,7
51,3
12 (P
revi
ous y
ear R
s. 4
,671
,956
).2.
His
toric
al co
st o
f inv
estm
ent v
alue
d on
fair
valu
e ba
sis i
s Rs.
582
,404
(Pre
viou
s yea
r Rs.
175
,927
).
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
26
Schedules forming part of financial statements for the year ended 31st March 2008
Schedule - 8B : Assets held to cover linked liabilities
(Amount in Rs. ‘000)
Particulars Current Year Previous Year
LONG TERM INVESTMENTS
Government securities and Government 685,714 35,552guaranteed bonds including Treasury Bills
Other Approved Securities(a) Shares
(aa)Equity 68,712,146 28,337,065(bb)Preference - -
(b) Mutual Funds - -(c) Derivative Instruments - -(d) Debentures / Bonds 2,267,232 1,067,044(e) Other Securities
(aa)Fixed Deposit with banks - 600,000(f) Subsidiaries - -
Investment Properties - Real Estate - -
Investments in Infrastructure and Social Sector Bonds 4,254,556 623,991
Other than Approved Investments(a) Equity 12,464,060 7,540,102(b) Bonds - -
SHORT TERM INVESTMENTS
Government securities and Government 220,783 204,994guaranteed bonds including Treasury Bills
Other Approved Securities(a) Shares
(aa) Equity - -(bb) Preference - -
(b) Mutual Funds - -(c) Derivative Instruments - -(d) Debentures / Bonds 11,142,937 7,606,662(e) Other Securities - -(f) Subsidiaries - -
Investment Properties - Real Estate - -
Investments in Infrastructure and Social Sector Bonds 126,869 491,534
Other than Approved Investments(aa)Bonds - 73,924(bb)Mutual Fund 1,091,843 44,183
Fixed Deposits with Banks 1,699,800 1,081,000
Net Current Assets 6,875,757 4,162,350
Total 109,541,697 51,868,401
INVESTMENTS
In India 109,541,697 51,868,401Outside India - -
Total 109,541,697 51,868,401
(Refer schedule 16 note 24)
Historical Cost of above investments is Rs. 109,527,505 ( Previous Year Rs. 48,845,768)
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
27
Schedules forming part of financial statements for the year ended 31st March 2008
Schedule - 9 : Loans
(Amount in Rs. ‘000)
Particulars Current Year Previous Year
SECURITY-WISE CLASSIFICATION
Secured
(a) On mortgage of property
(aa) In India - -
(bb) Outside India - -
(b) On Shares, Bonds, Goverment Securities etc. - -
(c) Loan against policies 30,937 18,630
Total 30,937 18,630
BORROWER-WISE CLASSIFICATION
(a) Central and State Government - -
(b) Bank and Financial Institutions - -
(c) Subsidiaries - -
(d) Companies - -
(e) Loan against policies 30,937 18,630
Total 30,937 18,630
PERFORMANCE-WISE CLASSIFICATION
(a) Loans classified as standard :
(aa) In India 30,937 18,630
(bb) Outside India - -
Total 30,937 18,630
MATURITY-WISE CLASSIFICATION
(a) Short-Term - -
(b) Long-Term 30,937 18,630
Total 30,937 18,630
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
28
Sche
dule
s for
min
g pa
rt o
f fin
anci
al st
atem
ents
for t
he y
ear e
nded
31st
Mar
ch 2
008
Sche
dule
- 10
: Fi
xed
Asse
ts(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
GRO
SS B
LOCK
DEP
RECI
ATIO
NN
ET B
LOCK
Ope
ning
Addi
tions
Ded
uctio
nsCl
osin
gU
pto
last
For t
heO
n Sa
les/
To d
ate
Curr
ent
Prev
ious
year
year
Adju
stm
ents
Year
Year
Inta
ngib
le -C
ompu
ter S
oftw
are
33,8
2932
,524
-66
,353
26,3
2310
,946
-37
,269
29,0
847,
506
Land
-Fre
ehol
d-
--
--
--
--
-
Leas
ehol
d Pr
oper
ties
227,
567
94,5
55-
322,
122
117,
848
59,3
67-
177,
215
144,
907
109,
719
Build
ings
186,
602
--
186,
602
12,4
023,
855
-16
,257
170,
345
174,
200
Elec
tric
al F
ittin
gs4,
136
593
74,
722
1,43
542
47
1,85
22,
870
2,70
1
Furn
iture
& Fi
ttin
gs64
,165
18,1
817
82,3
3930
,446
5,90
47
36,3
4345
,996
33,7
19
Info
rmat
ion
Tech
nolo
gy E
quip
men
t39
0,04
137
4,59
846
276
4,17
724
5,48
112
3,02
237
736
8,12
639
6,05
114
4,56
0
Air C
ondi
tione
r57
,317
30,5
95-
87,9
1217
,017
8,49
7-
25,5
1462
,398
40,3
00
Vehi
cles
7,26
67,
241
1,52
712
,980
2,67
12,
042
1,52
73,
186
9,79
44,
595
Offi
ce E
quip
men
t72
,349
44,7
7463
117,
060
56,5
0412
,393
1468
,883
48,1
7715
,845
Tota
l1,
043,
272
603,
061
2,06
61,
644,
267
510,
127
226,
450
1,93
273
4,64
590
9,62
253
3,14
5
Prev
ious
Yea
r69
1,54
436
3,51
811
,790
1,04
3,27
232
8,75
918
6,27
14,
903
510,
127
533,
145
-
Not
e: 1
. Ref
er N
ote
No.
1 (h
) of S
ched
ule
16
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
29
Schedules forming part of financial statements for the year ended 31st March 2008
Schedule - 11 : Cash and Bank Balances
(Amount in Rs. ‘000)
Particulars Current Year Previous Year
1. Cash (including cheques, drafts and stamps) 798,551 1,006,433
2. Bank Balances
(a) Deposit Accounts
(aa) Short-term (due within 12 months of the date of Balance Sheet ) 200 -
(bb) Others - -
(b) Current Accounts 2,986,511 3,191,609
(c) Others - -
3. Money at Call and Short Notice
(a) With Banks - -
(b) With Other Institutions - -
4 . Others - -
Total 3,785,262 4,198,042
Balances with non-scheduled banks included in 2 and 3 above
Cash and Bank Balances
1. In India 3,785,262 4,198,042
2. Outside India - -
Total 3,785,262 4,198,042
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
30
Schedules forming part of financial statements for the year ended 31st March 2008
Schedule - 12 : Advances and Other Assets
(Amount in Rs. ‘000 )
Particulars Current Year Previous Year
ADVANCES
Reserve deposits with ceding companies - -
Application money for investments - 10,221
Prepayments 129,358 63,414
Advances to Directors/Officers - -
Advance Tax paid and taxes deducted at source 1,066 314
Others :
Travel Advances 1,768 960
Employee Advances 4,108 3,391
Advances to Suppliers 129,756 28,749
Miscellaneous Advances - -
Total (A) 266,056 107,049
OTHER ASSETS
Income accrued on investments 550,108 248,188
Outstanding Premiums 233,726 310,762
Agents’ Balances - -
Foreign Agencies Balance - -
Due from other entities carrying on insurance business 3,779 2,933
(Including amount due from Reinsurers)
Due from subsidiaries/holding company - -
Deposit with Reserve Bank of India - -
[pursuant to section 7 of Insurance Act,1938]
Deposits 254,686 131,762
Others :
Unsettled Investment contract receivable - 52,143
Others 1,714 1,640
Total (B) 1,044,013 747,428
Total (A + B) 1,310,069 854,477
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
31
Schedules forming part of financial statements for the year ended 31st March 2008
Schedule - 13 : Current Liabilities(Amount in Rs. ‘000)
Particulars Current Year Previous Year
Agents’ Balances 1,774,831 1,817,710
Balances due to other insurance companies 18,869 81,844
Deposits held on reinsurance ceded - -
Premium received in advance 170,855 111,184
Premium & Other Deposits 1,739,853 1,552,322
Sundry Creditors 5,964,059 4,359,434
Due to Subsidaries/holding company 1,211 -
Claims Outstanding 218,655 110,639
Annuities Due - -
Due to Officers/Directors of the Company - 6,249
Others :
Payable - unsettled investment contracts - -
Temporary Overdraft as per the books of accounts 409,891 53,665
TOTAL 10,298,224 8,093,047
Schedule - 14 : Provisions(Amount in Rs. ‘000)
Particulars Current Year Current Year Previous Year Previous Year
For Taxation
(Less Payments and Taxes deducted at Sources)
Wealth Tax 80 36
Service Tax - -
Fringe Benefit Tax 4,310 4,390 10,000 10,036
For Proposed dividends - -
For dividend distribution tax - -
Others:
For Leave Encashment 214,100 87,697
Total 218,490 97,733
Schedule - 15 : Miscellaneous Expenditure (To the extent not written-off or adjusted)
(Amount in Rs. ‘000)
Particulars Current Year Previous Year
Discount allowed in issue of shares/debentures - -
Others - -
Total - -
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
32
Annexure to Revenue Account-Break Up of Unit Linked Business (UL) for the year ended 31st March 2008
Revenue Account for the year ended 31st March 2008Policyholders’ Account (Technical Account)
Particulars Schedule Linked Life Linked Pe
Non-Unit Unit Total Non-Unit
(1) (2) (3)=(1) + (2) (4)
PREMIUMS EARNED – NET
(a) Premium 28,370,793 59,847,039 88,217,832 365,760 2
(b) Reinsurance ceded (Refer Schedule 16 Note 16) (63,026) - (63,026) (48)
SUB-TOTAL 28,307,767 59,847,039 88,154,806 365,712 2
INCOME FROM INVESTMENTS
(a) Interest, dividend & rent - gross 286,715 987,022 1,273,737 3,920
(b) Profit on sale/redemption of investments 4,526 8,260,919 8,265,445 21
(c) Loss on sale/redemption of investments (5,308) (1,435,912) (1,441,220) -
(d) Unrealised gain/(loss) - (2,661,741) (2,661,741) - (
(e) Other investment income - 569,556 569,556 -
285,933 5,719,844 6,005,777 3,941
OTHER INCOME:
(a) Linked income UL1 5,350,476 (5,350,476) - 82,377
(b) Contribution from Shareholders’ account 2,539,007 - 2,539,007 365,506
(Refer Schedule 16 Note 15)
(c) Others 81,850 - 81,850 2,623
Total (A) 36,565,033 60,216,407 96,781,440 820,159 3
COMMISSION 14,464,765 - 14,464,765 163,063
OPERATING EXPENSES RELATED TO INSURANCE BUSINESS 18,684,689 - 18,684,689 598,873
Provision For Taxation 87,025 - 87,025 2,789
TOTAL (B) 33,236,479 - 33,236,479 764,725
BENEFITS PAID (NET) UL2 529,409 6,729,981 7,259,390 -
Interim Bonuses Paid - - - -
Change In Valuation of Liability In Respect Of Life Policies 1,137,626 - 1,137,626 53,873
(Refer Schedule 16 Note 1 (e) and Note 8 )
Change In Valuation Liability - 53,486,426 53,486,426 - 2
(Refer Schedule 16 Note 1 (e) and Note 8 )
TOTAL (C) 1,667,035 60,216,407 61,883,442 53,873 3
SURPLUS / (DEFICIT) (D) =(A)-(B)-(C) 1,661,519 - 1,661,519 1,561
Balance of previous year - - - -
Transitional Adjustments on revision to Valuation of employees benefit (59,899) - (59,899) (1,561)
(Refer Schedule 16 Note 1)
APPROPRIATIONS
Reserve for lapsed unit linked policies unlikely to be revived (1,601,620) - (1,601,620) -
Transfer To Shareholders’ a/c - - -
Balance being funds for future appropriations - - - -
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
33
(Amount in Rs. ‘000)
fe Linked Pension Linked Group
it Total Non-Unit Unit Total Non-Unit Unit Total Current Year
) (3)=(1) + (2) (4) (5) (6)=(4) + (5) (7) (8) (9)= (7) + (8) (10)=(3)+ (6)+(9)
9 88,217,832 365,760 2,897,104 3,262,864 5,406 1,608,916 1,614,322 93,095,018
- (63,026) (48) - (48) - - - (63,074)
9 88,154,806 365,712 2,897,104 3,262,816 5,406 1,608,916 1,614,322 93,031,944
2 1,273,737 3,920 43,929 47,849 300 40,769 41,069 1,362,655
9 8,265,445 21 533,211 533,232 - 65,126 65,126 8,863,803
2) (1,441,220) - (79,330) (79,330) (9) (7,433) (7,442) (1,527,992)
) (2,661,741) - (309,353) (309,353) - (37,347) (37,347) (3,008,441)
6 569,556 - 27,662 27,662 - 6,277 6,277 603,495
4 6,005,777 3,941 216,119 220,060 291 67,392 67,683 6,293,520
6) - 82,377 (82,377) - 7,848 (7,848) - -
- 2,539,007 365,506 - 365,506 36,057 - 36,057 2,940,570
- 81,850 2,623 - 2,623 199 - 199 84,672
7 96,781,440 820,159 3,030,846 3,851,005 49,801 1,668,460 1,718,261 102,350,706
- 14,464,765 163,063 - 163,063 - - - 14,627,828
- 18,684,689 598,873 - 598,873 45,361 - 45,361 19,328,923
- 87,025 2,789 - 2,789 212 - 212 90,026
- 33,236,479 764,725 - 764,725 45,573 - 45,573 34,046,777
1 7,259,390 - 465,314 465,314 54 47,122 47,176 7,771,880
- - - - - - -
- 1,137,626 53,873 - 53,873 4,100 - 4,100 1,195,599
6 53,486,426 - 2,565,532 2,565,532 - 1,621,338 1,621,338 57,673,296
7 61,883,442 53,873 3,030,846 3,084,719 4,154 1,668,460 1,672,614 66,640,775
- 1,661,519 1,561 - 1,561 74 - 74 1,663,154
- - - - - - - - -
- (59,899) (1,561) - (1,561) (74) - (74) (61,534)
- (1,601,620) - - - - - - (1,601,620)
- - - - - - - - -
- - - - - - - - -
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
34
Annexure to Revenue Account-Break Up of Unit Linked Business (UL) for the year ended 31st March 2008
Revenue Account for the year ended 31st March 2008Policyholders’ Account (Technical Account)
Particulars Schedule Linked Life Linked Pe
Non-Unit Unit Total Non-Unit
(1) (2) (3)=(1) + (2) (4)
PREMIUMS EARNED – NET
(a) Premium 17,632,616 29,624,034 47,256,650 207,255 1
(b) Reinsurance ceded (43,746) - (43,746) (65)
SUB-TOTAL 17,588,870 29,624,034 47,212,904 207,190 1
INCOME FROM INVESTMENTS
(a) Interest, dividend & rent - gross 76,081 658,197 734,278 686
(b) Profit on sale/redemption of investments - 3,489,836 3,489,836 -
(c) Loss on sale/redemption of investments (745) (968,300) (969,045) -
(d) Unrealised gain/(loss) - (1,003,416) (1,003,416) -
(e) Other investment income - 302,927 302,927 -
75,336 2,479,244 2,554,580 686
OTHER INCOME:
(a) Linked income UL1 1,568,137 (1,568,137) - 44,221
(b) Contribution from Shareholders’ account 863,308 - 863,308 101,265
(c) Others 28,074 - 28,074 874
Total (A) 20,123,725 30,535,141 50,658,866 354,236 1
COMMISSION 8,944,424 - 8,944,424 69,526
OPERATING EXPENSES RELATED TO INSURANCE BUSINESS 9,534,019 - 9,534,019 246,486
Provision For Taxation (Fringe Benefit Tax) 64,822 - 64,822 1,690
TOTAL (B) 18,543,265 - 18,543,265 317,702
BENEFITS PAID (NET) UL2 28,824 6,112,250 6,141,074 19,102
Interim Bonus Paid - - - -
Change In Valuation of Liability In Respect of Life Policies 310,562 - 310,562 17,432
Change In Valuation Liability - 24,422,891 24,422,891 - 1
TOTAL (C) 339,386 30,535,141 30,874,527 36,534 1
SURPLUS / (DEFICIT) (D) =(A)-(B)-(C) 1,241,074 - 1,241,074 -
APPROPRIATIONS
Balance of Previous Year - - - -
Reserve for lapsed unit linked policies unlikely to be revived (1,241,074) - (1,241,074) -
Transfer To Shareholders’ a/c - - - -
Balance being funds for future appropriations - - - -
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
35
(Amount in Rs. ‘000)
fe Linked Pension Linked Group
it Total Non-Unit Unit Total Non-Unit Unit Total Previous Year
) (3)=(1) + (2) (4) (5) (6)=(4) + (5) (7) (8) (9)= (7) + (8) (10)=(3)+ (6)+(9)
4 47,256,650 207,255 1,563,441 1,770,696 9,604 379,182 388,786 49,416,132
- (43,746) (65) - (65) - - - (43,811)
4 47,212,904 207,190 1,563,441 1,770,631 9,604 379,182 388,786 49,372,321
7 734,278 686 27,622 28,308 230 12,262 12,492 775,078
6 3,489,836 - 187,776 187,776 - 804 804 3,678,416
0) (969,045) - (56,819) (56,819) - (5,708) (5,708) (1,031,572)
6) (1,003,416) - (36,802) (36,802) - 3,572 3,572 (1,036,646)
7 302,927 - 16,087 16,087 - 1,522 1,522 320,536
4 2,554,580 686 137,864 138,550 230 12,452 12,682 2,705,812
7) - 44,221 (44,221) - 2,028 (2,028) - -
- 863,308 101,265 - 101,265 7,782 - 7,782 972,355
- 28,074 874 - 874 33 - 33 28,981
1 50,658,866 354,236 1,657,084 2,011,320 19,677 389,606 409,283 53,079,469
- 8,944,424 69,526 - 69,526 62 - 62 9,014,012
- 9,534,019 246,486 - 246,486 11,759 - 11,759 9,792,264
- 64,822 1,690 - 1,690 80 - 80 66,592
- 18,543,265 317,702 - 317,702 11,901 - 11,901 18,872,868
0 6,141,074 19,102 267,038 286,140 8,649 27,342 35,991 6,463,205
- - - - - - - - -
- 310,562 17,432 - 17,432 (201) - (201) 327,793
1 24,422,891 - 1,390,046 1,390,046 - 362,264 362,264 26,175,201
1 30,874,527 36,534 1,657,084 1,693,618 8,448 389,606 398,054 32,966,199
- 1,241,074 - - - (672) - (672) 1,240,402
- - - - - (672) - (672) (672)
- (1,241,074) - - - - - - (1,241,074)
- - - - - - - - -
- - - - - - - - -
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
36
Schedules to Annexure to Revenue Account (UL) forming part of Financial Statements for the year ended 31st March 2008
Schedule - UL1 : Linked Income (recovered from linked funds) (net of service tax)
(Amount in Rs. ‘000)
Particulars Life Linked Unit Pension Linked Unit Linked Group Unit Current Year
(1) (2) (3) (4)= (1)+(2)+(3)
Fund Administration charges 214,789 - - 214,789
Fund Management charges 1,080,521 48,528 7,848 1,136,897
Policy Administration charges 2,094,442 29,255 - 2,123,697
Surrender charges - - - -
Switching charges 8,063 597 - 8,660
Mortality charges 1,632,240 3,401 - 1,635,641
Rider Premium charges 320,421 596 - 321,017
Partial withdrawal charges - - - -
Miscellaneous charges - - - -
TOTAL (UL-1) 5,350,476 82,377 7,848 5,440,701
Schedules to Annexure to Revenue Account (UL) forming part of Financial Statements for the year ended 31st March 2008
Schedule - UL1 : Linked Income (recovered from linked funds) (net of service tax)
(Amount in Rs. ‘000)
Particulars Life Linked Unit Pension Linked Unit Linked Group Unit Previous Year
(1) (2) (3) (4)= (1)+(2)+(3)
Fund Administration charges 137,435 257 24 137,716
Fund Management charges 439,169 20,768 1,984 461,921
Policy Administration charges 333,400 19,031 20 352,451
Surrender charges - - - -
Switching charges - - - -
Mortality charges 540,909 3,544 - 544,453
Rider Premium charges 117,224 621 - 117,845
Partial withdrawal charges - - - -
Miscellaneous charges - - - -
TOTAL (UL-1) 1,568,137 44,221 2,028 1,614,386
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
37
Sche
dule
s to
Anne
xure
to R
even
ue A
ccou
nt (U
L) fo
rmin
g pa
rt o
f Fin
anci
al S
tate
men
ts fo
r the
yea
r end
ed 3
1st M
arch
200
8
Sche
dule
- U
L2 :
Bene
fits
Paid
(ne
t)(A
mou
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Rs.
‘000
)
Link
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ifeLi
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roup
Prev
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Part
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Non
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Tota
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)=(1
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)=(4
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)(9
)=(7
)+(8
)(1
0)=
(3)+
(6)+
(9)
1In
sura
nce
Clai
ms
(a)
Clai
ms b
y Dea
th32
,162
160,
304
192,
466
19,1
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62,1
738,
649
-8,
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263,
288
(b)
Clai
ms b
y Mat
urity
--
--
--
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(c)
Annu
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/ Pe
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--
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(d)
Oth
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223,
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203,
255
- Sur
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32,1
626,
112,
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6,14
4,41
219
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267,
038
286,
140
8,64
927
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35,9
916,
466,
543
2Am
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rein
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(a)
Clai
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)-
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38)
--
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(b)
Clai
ms b
y Mat
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--
--
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(c)
Annu
ities
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TOTA
L (A)
- (B
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6,11
2,25
06,
141,
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19,1
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7,03
828
6,14
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27,3
4235
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6,46
3,20
5Be
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In In
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28,8
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6,14
1,07
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267,
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286,
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8,64
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35,9
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Out
side
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--
--
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19,1
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3,20
5
Sche
dule
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Anne
xure
to R
even
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ccou
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L) fo
rmin
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rt o
f Fin
anci
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tate
men
ts fo
r the
yea
r end
ed 3
1st M
arch
200
8
Sche
dule
- U
L2 :
Bene
fits
Paid
(ne
t)(A
mou
nt in
Rs.
‘000
)
Link
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=(3
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Insu
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538,
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266,
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6,46
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7,98
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7,98
654
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538,
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9,98
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Amou
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Pens
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--
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L (A)
- (B
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9,40
96,
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314
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Bene
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a52
9,40
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767,
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880
Out
side
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a-
--
--
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TAL (
UL2
)52
9,40
96,
729,
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7,25
9,39
0-
465,
314
465,
314
5447
,122
47,1
767,
771,
880
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
38
Schedules forming part of financial statements for the year ended 31st March 2008 (continued)
Schedule - 16 : Notes to financial statements
Background
Bajaj Allianz Life Insurance Company Limited (“the Company”) wasincorporated on 12th March 2001 as a Company under the CompaniesAct, 1956. The Company obtained a license from the InsuranceRegulatory and Development Authority (“IRDA”) for carrying on thebusiness of life insurance on 3rd August 2001. The registrationcertificate granted by IRDA is valid and the same has been renewedfor the year 2008 - 2009. The Company has a wide range of products intraditional and unit-linked insurance business.
1. Significant Accounting Policies followed by the Company
Basis of Preparation
The accompanying financial statements have been prepared andpresented under the historical cost convention, on the accrual basis ofaccounting, in compliance with the accounting standards (‘AS’) issuedby the Institute of Chartered Accountants of India (‘ICAI’), to the extentapplicable, and in accordance with the provisions of the Insurance Act,1938, the Insurance Regulatory and Development Authority(Preparation of Financial Statements and Auditor’s Report of InsuranceCompanies) Regulations, 2002 (‘the Regulations’), InsuranceRegulatory and Development Authority Act, 1999, various circularsissued by IRDA and the Companies Act, 1956 to the extent applicableand the practices prevailing in the insurance industry. The accountingpolicies have been consistently applied by the company and exceptfor changes in accounting policy discussed below are consistent withthose used in the previous year.
Use of Estimates
The preparation of financial statements in conformity with generallyaccepted accounting principles requires management to makeestimates and assumptions that affect the reported amounts of assets,liabilities, revenue and expenses and disclosure of contingentliabilities as on the date of financial statements. The estimates andassumptions used in the accompanying financial statements arebased upon management’s evaluation of the relevant facts andcircumstances as of the date of the financial statements. Actual resultscould differ from those estimates. Any revision to accountingestimates is recognized prospectively in current and future periods.
Change in Accounting Policies
Adoption of Accounting Standard AS15 (Revised) EmployeeBenefits
Till 31st March 2007, the Company was providing for gratuity based onactuarial valuation as per Life Insurance Corporation of India (LIC)certificate and leave encashment based on an independent actuarialvaluation. In the current year, the Company has adopted the AccountingStandard 15 (Revised) on Employee Benefits issued by the Institute ofChartered Accountants of India, which is mandatory from accountingperiods commencing on or after from 7th December 2006. Accordingly,the Company has provided for gratuity and leave encashment basedon actuarial valuation done as per projected unit credit method.Further, in accordance with the transitional provision in the revisedaccounting standard, the opening impact of Rs.67,505 thousand hasbeen adjusted to the opening Funds for Future Appropriations. Theopening balance of Fund for Future Appropriations of Rs.603,418thousand is after adjustment of this opening impact of Rs. 67,505thousand.
a) Revenue Recognition
Revenues are recognised as under. However recognition is postponedwhere ultimate collectibility lacks reasonable certainty.
Premium Income
Premium (net of service tax), is recognised as income when due. Forlinked business, premium is recognized when the associated unitsare allotted.
Premium on lapsed policies is recognized as income when suchpolicies are reinstated.
In case of linked business, top up premiums paid by policyholders areunitized and considered as single premium. This premium isrecognised when associated units are allotted.
Commission received on reinsurance ceded is recognized as incomein the period in which reinsurance premium is ceded.
Income earned on investments
Interest income is recognised on an accrual basis.
Dividend income is recognized when the right to receive dividend isestablished.
Premium or discount on acquisition, as the case may be, in respect offixed income securities, pertaining to non-linked investments isamortized on constant yield to maturity basis over the period ofmaturity/holding and offset against interest income.
Profit/loss on sale/redemption of securities other than linkedinvestments is recognized on trade/redemption date and includeseffects of accumulated fair value changes, as applicable previouslyrecognised, for specific investments sold/redeemed during the year.Cost of security is determined on first in first out cost basis.
The realized gains or losses on the debt securities for other than linkedbusiness is the difference between the net sale consideration and theamortized cost in the books of the Company as on date of sale.
The realized gains or loss on equity shares and mutual fund units forother than linked business is the difference between the net saleconsideration and the cost in the books of the Company.
The realized gains or losses on securities held for linked business isthe difference between the net sale consideration and the weightedaverage cost as on the date of sale.
Fund Management Charges, Fund Administration Charges and Costof Insurance are accounted for on accrual basis in accordance withterms and conditions described in the issued policies.
Rent income earned from real estate is recognized on an accrual basis.
b) Reinsurance premium
Reinsurance premium ceded is accounted in accordance with thetreaty with reinsurers.
c) Benefits Paid (Including Claims)
Death and surrender claims are accounted for on receipt of intimation.Maturity claims are accounted when due for payment. Reinsurancerecoveries are accounted for in the same period as the related claimsand netted off against the claim expense incurred.
Repudiated claims disputed before judicial authorities are provided
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
39
for based on the best judgment of the management considering thefacts and evidence in respect of each such claim.
Withdrawals under unit linked policies are accounted in respectiveschemes when the associated units are cancelled.
d) Acquisition Costs
Acquisition costs such as commission, policy issue expenses etc arecosts that vary with and are primarily relatable to the acquisition ofnew and renewal insurance contracts. Such costs are expensed in theyear in which they are incurred. Accounting for additional first yearcommission is done on an accrual basis, after considering estimatedlapsations. Claw back of the first year commission paid, in future, ifany, will be accounted for in the year in which it is recovered.
e) Liability for life policies
(i) The Company provides for liabilities in respect of all “in force”policies and “lapsed policies” that are likely to be revived in future,based on actuarial valuation done by the Appointed Actuary asper gross premium method in accordance with accepted actuarialpractices, requirements of IRDA and Actuarial Society of India.
(ii) Liabilities in respect of unit linked policies which have lapsed andare not likely to be revived, are shown as a separate item underthe head “funds for future appropriations”, until expiry of the revivalperiod. This is as per IRDA Circular No. 041/IRDA/ACTL/MAR-2006dated 29th March 2006.
(iii) Linked liabilities comprise of unit liability representing the fundvalue of policies and non-unit liability for meeting insurance claimsetc. which is based on actuarial valuation done by the AppointedActuary.
Actuarial policies and assumptions are given in Note 8 below.
f) Investments
Investments are made in accordance with the Insurance Act, 1938,the Insurance Regulatory and Development Authority (Investment)Regulations, 2000, as amended and circulars / notifications issued byIRDA from time to time.
Investments are recorded on trade date at cost, which includesbrokerage and related taxes, if any and excludes pre-acquisitioninterest, if any.
i) Classification
Investments maturing within twelve months from the BalanceSheet date and investments made with the specific intention todispose of within twelve months from Balance Sheet date areclassified as short-term. Investments other than short term areclassified as long-term investments.
Investments are specifically procured and held for policyholdersand shareholders independently and the income relating to theseinvestments is recognized in the Revenue Account and Profit andLoss Account respectively.
ii) Valuation – Shareholders’ investments and non-linkedpolicyholders’ investments
All debt securities are considered as ‘held to maturity’ andaccordingly stated at historical cost adjusted for amortization ofpremium or accretion of discount on constant yield to maturitybasis over the period held to maturity / sale.
Listed equity shares and mutual fund units are stated at fair value,in accordance with IRDA Investment (Amendment) Regulations2001. Fair value for listed equity shares is the lowest last quotedclosing price on the National Stock Exchange (NSE) and The StockExchange, Mumbai (BSE). Fair value for mutual fund units is thenet asset value on the Balance Sheet date. Unrealized gains/losseson changes in fair values of listed equity shares and mutual fundsare taken to the Fair Value Change Account and carried forward inthe Balance Sheet.
Investment in real estate properties is valued at cost, subject torevaluation once in three years.
iii) Valuation – linked business
Listed equity shares are valued at fair value, being the last quotedclosing price on the NSE. In case the equity shares are not listed onthe NSE, then they are valued on the last quoted closing price onBSE.
Government securities are valued at prices obtained from CreditRating Information Services of India Ltd. (CRISIL).
Corporate bonds and debentures are valued on the basis of CRISILBond Valuer.
Treasury bills, certificate of deposits and commercial papers arevalued at cost plus accretion at constant yield to maturity.
Mutual fund units have been valued at the last available Net AssetValue declared by the respective mutual fund.
iv) Transfer of investments
Transfer of investments from Shareholders’ Fund to thePolicyholders’ Fund is at book value or market price; whichever islower.
Transfer of debt securities is at lower of amortised cost or marketprice.
Inter fund transfer of Treasury Bills, Certificate of Deposits andCommercial Papers between unit linked funds is done at cost plusaccretion. All other transfer of investments between unit linkedfunds is done at market price.
g) Loans
Loans are stated at historical cost, subject to provision for impairment,if any.
h) Fixed Assets and Depreciation
Fixed assets are stated at cost of acquisition less accumulateddepreciation. Cost of acquisition includes incidental expenses relatingto acquisition and installation. In respect of liabilities incurred inacquisition of fixed assets in foreign exchange, the net gain or lossarising on conversion/settlement is charged to Revenue Account.
Intangible assets comprising software are stated at cost lessamortization.
Depreciation / amortisation is provided on Straight Line Method(SLM) with reference to the management’s assessment of theestimated useful life of the assets or the rates and in the mannerspecified by the Schedule XIV of the Companies Act, 1956, whicheveris higher.
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
40
Depreciation / amortisation is provided at the following rates:
Asset Class Rate of Depreciation /amortisation
Intangibles - Computer Software 33.33% p.a.
Leasehold Improvements Over the balanceperiod of Lease
Buildings 2.00% p.a.
Electrical Fittings 6.33% p.a.
Furniture & Fittings 6.33% p.a.
Information Technology Equipment 33.33% p.a.
Air Conditioner 10.00% p.a.
Vehicles 20.00% p.a.
Office Equipment 25.00% p.a.
The Company provides pro rata depreciation from the month in whichthe asset is acquired / first put to use and upto the month in which theasset is sold/discarded.
Assets costing individually less than Rs. 5,000 are charged off asrevenue expenses. Assets costing Rs. 5,000 and above, upto Rs. 20,000,are fully depreciated in the year of acquisition.
Impairment of Assets
The Company assesses at each Balance Sheet date whether there isany indication that an asset may be impaired. If any such indicationexists, the Company estimates the recoverable amount of the asset.An impairment loss is recognized if such recoverable amount of theasset is less than its carrying amount. After impairment, depreciationis provided on the revised carrying amount of the assets over itsremaining useful life.
i) Accounting for leases
Operating leases
Leases where the lessor effectively retains substantially all the risksand benefits of ownership over the leased term are classified asoperating leases. Operating lease rentals are recognized as anexpense in the profit and loss account/revenue account on a straight-line basis over the lease term.
j) Employee Benefits:
The Company makes a contribution to the Statutory Provident Fund,Employee Labour Welfare Fund, Employees’ State InsuranceCorporation and Employee Deposit Link Insurance Scheme definedcontribution schemes at the prescribed rates. Contributions arecharged to the Revenue Account of the year when the contributions tothe funds are due.
The Company makes a contribution to the Bajaj Auto EmployeeSuperannuation Scheme, a defined contribution scheme, for itseligible employees at fixed rates.
The Company’s liability towards gratuity, leave encashment and LongTerm Incentive Plan being defined benefit plans is accounted for onthe basis of an independent actuarial valuation done at the year endand actuarial gains / losses are charged to the Revenue Account. Theactuarial method used for measuring the liability is ‘Projected UnitCredit Method’.
k) Transactions in Foreign Currency
Transactions in foreign currency on account of revenue expenditureare accounted for at the rate prevailing at the date of the transactions.Current assets and liabilities are translated at the year-end closingrates. The resulting exchange gain or loss, if any, is reflected in theprofit and loss account / revenue account.
l) Taxation
Income Tax expense comprises current tax (i.e. amount of tax for theperiod determined in accordance with the income-tax law includingFringe Benefit Tax) and deferred tax charge or credit (reflecting thetax effects of timing differences between the accounting income andtaxable income for the period).
Deferred tax is measured based on the tax rates and the tax lawsenacted or substantively enacted at the balance sheet date. Deferredtax assets are recognised only to the extent that there is reasonablecertainty that sufficient future taxable income will be available againstwhich such deferred tax assets can be realised. In situations wherethe Company has unabsorbed depreciation or carry forward tax losses,all deferred tax assets are recognised only if there is virtual certaintysupported by convincing evidence that they can be realised againstfuture taxable profits.
At each balance sheet date the Company re-assesses unrecogniseddeferred tax assets. It recognises unrecognised deferred tax assetsto the extent that it has become reasonably certain or virtually certain,as the case may be that sufficient future taxable income will beavailable against which such deferred tax assets can be realised.
m) Provisions and Contingent liabilities
The Company creates a provision when there is present obligation asa result of a past event that probably requires an outflow of resourcesand a reliable estimate can be made of the amount of the obligation.A disclosure for a contingent liability is made when there is a possibleobligation or a present obligation that may, but probably will not,require an outflow of resources. When there is a possible obligationor a present obligation in respect of which the likelihood of outflow ofresources is remote, no provision or disclosure is made.
n) Service Tax
Service Tax liability on taxable premium is setoff against availableservice tax credits from service tax payments made for InsuranceAuxiliary and other eligible services. Unutilised credits, if any, arecarried forward under “Advances and other Assets” for adjustments/ setoff in subsequent periods, after creating a provision based onestimated realization of the unutilised credit.
o) Earnings per share
Basic earnings per share is calculated by dividing the net profit or lossfor the year attributed to equity shareholders by the weighted numberof equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net profitor loss for the year attributable to equity shareholders and the equityweighted number of shares outstanding during the year are adjustedfor effects of all dilutive equity shares.
Statutory disclosures as required by the Regulations
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
41
2. Contingent Liabilities
(Rupees ‘000)
Particulars As at 31st As at 31st
March 2008 March 2007
Partly-paid up investments Nil 3,840
Underwriting commitmentsoutstanding Nil Nil
Claims, other than those underpolicies, not acknowledged as debts 1,070 375
Guarantees given by or on behalf ofthe company Nil Nil
Statutory demands/liabilities indispute, not provided for * 7,064 7,064
Reinsurance obligations to theextent not provided for in accounts Nil Nil
Claims, under policies, notacknowledged as debts 70,728 29,952
* The Service Tax department has issued an order on the Company forRs. 7,064 thousand (excluding interest), pertaining to the periodAugust 2002 to 31st December 2004. The Company has filed an appealagainst the order with the Customs, Excise and Service Tax AppellateTribunal.
3. There are no assets required to be deposited by the Companyunder any local law or otherwise encumbered in or outside Indiaexcept investments to be held under Section 7 of the InsuranceAct, 1938 as discussed under Note 6. There are no assets subjectto restructuring.
4. There are no commitments made and outstanding for loans andinvestments. The commitments made and outstanding for fixedassets amount to Rs. 342,754 thousand (Previous Year Rs. 13,163thousand) (net of advances).
5. Value of unsettled contracts relating to investments as at 31st
March 2008 for:(Rupees ‘000)
Linked Business Non-linked Business
31st March 31st March 31st March 31st March2008 2007 2008 2007
Purchases where deliveries 1,120,876 581,521 NIL NILare pending
Sales where receipts are 163,959 279,255 NIL 52,143overdue
6. Investments as required to be maintained under Section 7 of theInsurance Act, 1938 are as follows:
(Rupees ‘000)
31st March 31st March 2008 2007
7.55% Govt. of India Securities 2010* 50,724 51,034(Face Value Rs.50,000)
11.99% Govt. of India Securities 2009* 52,609 55,006(Face Value Rs.50,000)
* This investment is in the custody of Deutsche Bank India Branches inthe Constituent Subsidiary General Ledger (‘CSGL’) account.
All investments are performing investments.
7. Managerial remuneration *
The details of the managerial remuneration included in employeeremuneration and welfare benefits are as follows:
(Rupees ‘000)
Particulars 31st March 2008 31st March 2007
Salary 8,696 6,850
Perquisites 618 447
The managerial remuneration is in accordance with the approvalaccorded by a resolution of the Board of Directors and IRDA as requiredunder Section 34A of the Insurance Act,1938.
Expenses towards gratuity are determined actuarially on an overallCompany basis annually and accordingly have not been considered inabove information.
* Mr. Sam Gosh (till 30th September 2007) and Mr. Kamesh Goyal(w.e.f. 1st October 2007).
8. Actuarial Valuation
Liabilities for life insurance policies are determined by the AppointedActuary in accordance with IRDA regulations and relevant guidancenotes of Institute of Actuaries of India.
Non-linked business is reserved using a prospective gross premiummethod of valuation. The non-linked business is predominantlyparticipating and reserves are established having regard toassumptions as to future experience, including the interest that willbe earned on premiums not yet received, together with associatedbonus rates. Regular premium participating business is reserved usingan interest rate of 7.50% per annum that is same as that used invaluation as at 31st March 2007.
Single premium participating business is reserved using a rate of 6.25%per annum which is same as used in valuation as at 31st March 2007.The rate is determined after having regard to the yield being obtainedon relevant matching assets.
Assumptions as to future bonus rates are set to be consistent with theinterest rate assumptions. Provision has been made for a bonusdistribution in respect of business inforce at the valuation date on abasis considered appropriate by the appointed actuary having takeninto account the reasonable expectations of policyholders.
Linked business is reserved using the per unit net asset value of unitsplus a non unit reserve to allow for costs of insurance and any expensesand commissions in excess of future charges.
Mortality assumptions are based on the published IALM (1994-1996)Ultimate Mortality Table with adjustment to reflect expectedexperience and with an allowance for adverse deviation.
Assumptions for morbidity and for the incidence of accidental deathare based on terms available from reinsures and the standardmorbidity rate table CIBT(94-96).
The reserve is sufficient to allow for any adverse lapse experience.The reserve is always sufficient to meet minimum statutory surrendervalue.
Commission has been allowed for at the Company’s table rates withan allowance for service tax. Maintenance expenses have beenallowed for in accordance with business plan assumptions and productfiling with the IRDA. An additional reserve has been included to allowfor possible adverse deviations in experience in excess of offsettingadjustments in bonus rates and to allow for the contingency of closure
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
42
to new business as is required by guidance notes(GN1) issued by theInstitute of Actuaries of India.
There is a small amount of Group Term Business at the valuation date,reserves for which have been calculated having regard to the unearnedgross premium and expenses already incurred.
Provision has been made for the possible revival of policies, which havelapsed before the valuation date, having regard to the experience ofthe Company. As per IRDA circular No: 041/IRDA/ACTL/MAR-2006dated 29th March 2006, a reserve for lapsed unit linked policies notlikely to be revived is held as a separate item under the head “Fundsfor Future Appropriations”.
The Appointed Actuary is satisfied that the nature and extent ofreinsurance arrangements require no additional reserve to be setaside. All reserves have been calculated using gross exposure andgross office premiums.
The Appointed Actuary confirms, as is required by the IRDA, that thereserve is sufficient to provide for adverse “free look” experiencebased on assumptions and experience.
9. Claims
Claims settled and remaining unpaid for a period of more than sixmonths at year-end amount to Rs. Nil (Previous Year: Rs. Nil.)
10. Allocation of expenses
Operating expenses relating to insurance business are allocated tospecific business segments as under:
(a) Expenses, which are directly identifiable, are allocated on an actualbasis.
(b) Other operating expenses, which are not directly identifiable areapportioned based on a combination of:
• New Business Regular Premium;
• New Business Single Premium; and
• Renewal Premium
11. Expenses directly attributable to shareholders are charged to theShareholders’ Account.
12. Adoption of Accounting Standard AS15 (Revised) EmployeeBenefits
i. Defined Contribution Plans
The Company has recognized following amounts in the RevenueAccount for the year –
(Rs.’000)
Particulars Amount (Rs.)
Contribution to Employees Provident Fund 184,208
Contribution to Superannuation Fund 1,936
Contribution to Labour Welfare Fund, EDLI 3,376
Contribution to ESIC 18,918
ii. Defined Benefit Plans / Compensated absences – as per ActuarialValuation on March 31, 2008
a) Reconciliation of opening and closing balances of the present valueof the Defined Benefit Obligation (DBO):
(Rs.’000)
Particulars Gratuity
Present value of Defined Benefit 64,026Obligation at the beginning of the year
Interest cost 7,701
Current service cost 39,200
Actuarial Losses / ( Gains) 14,045
Benefits paid (36,378)
Present value of Defined Benefit 88,594Obligation at the close of the year
b) A reconciliation of the opening and closing balances of the fairvalue of plan assets:
(Rs.’000)
Particulars Gratuity
Fair value of Plan Assets at the beginning ofthe year 37,413
Add : Expected return on Plan Assets 1,859
Add / (Less) : Actuarial Gains / (Losses) 3,633
Add : Contributions 82,066
Less: Benefits Paid (36,377)
Fair value of Plan Assets at the close of the year 88,594
Actual Return on Plan Assets 5,492
c) Net Assets / (Liabilities) recognized in the Balance Sheet as onMarch 31, 2008:
(Rs.’000)
Particulars Gratuity
Present value of Defined Benefit obligation 88,594
Less: Fair value of Plan Assets 88,594
Present value of unfunded obligation Nil
Net Liability / ( Asset) recognized in theBalance sheet Nil
d) Total expenses recognized in the Revenue Account:
(Rs.’000)
Particulars Gratuity
Current Service Cost 39,200
Interest Cost 7,701
Expected return on Plan Assets (1,859)
Actuarial (Losses) / Gains 10,412
Past service costs -
Effect of curtailment / settlement -
Adjustments for earlier years -
Recognized in the Revenue Account 55,454
The above have been included under the line item “Employees’remuneration, welfare benefits and other manpower costs” inSchedule 3.
e) Major categories of plan assets as a percentage of total planassets:
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
43
(Rs.’000)
Particulars Gratuity
Insurer Managed Funds 88,594
f) Actuarial Assumptions:
Particulars Gratuity
Discount Rate 8.25%
Expected rate of return on Plan Assets 7.50%
Salary Escalation rate - Management Staff 6.00%
Attrition rate 1% to 15%
g) Future salary increases considered in actuarial valuation take intoaccount inflation, seniority, promotion and other relevant factors,such as supply and demand in the employment market.
h) Expected rate of return on plan assets is on the basis of averagelong term rate of return expected on investments of the fundduring the estimated term of obligation.
i) Para 132 of AS 15 does not require any specific disclosures exceptwhere expense resulting from Compensated Absence is of suchsize, nature or incidence that its disclosure is relevant underAccounting Standard 5 or Accounting Standard 18. In the opinionof management the expense resulting from CompensatedAbsence is not significant and hence no disclosures are preparedunder various paragraphs of AS15.
13. Percentage of business sector-wise
Current Year Previous Year
Number Percentage Number Percentageof Policies of policies of Policies of policies
Rural 961,196 25.67% 431,765 20.77%
Urban 2,783,150 74.32% 1,647,168 79.23%
Current Year Previous Year
No. of No of No. of No ofLives Policies Lives Policies
Social 1,608,948 21 224,093 9
14. Percentage of risk retained and risks reinsured
(Rupees ‘000)
Particulars Current Year Previous Year
Sum at risk Percentage Sum at risk Percentage
Risk retained 1107,972,936 91.03% 687,500,808 80.78%
Risk reinsured 109,237,887 8.97% 163,577,192 19.22%
15. During the year the shareholders transferred funds toPolicyholders’ Account, to make good the deficit, which existed inthe Policyholders’ Account and transfer to reserve. The transferby the shareholders is irreversible in nature and shall not berecouped by the shareholders in the future. The necessaryapprovals of the shareholders for the said transfer has been takenat the Extra Ordinary General Meeting of the shareholders heldon 12th May 2008.
16. Reinsurance is in place on lives where cover is in excess of theCompany’s retention limit and this has been reflected in theAccounts.
17. As per Accounting Standard 18 issued by the Institute of CharteredAccountants of India, disclosures of transactions with the relatedparties have been set out in a separate statement annexed to thisschedule as Appendix I. The related parties, in respect of whichthe disclosures have been made, have been identified on the basisof disclosures made by the key managerial persons and taken onrecord by the Board of Directors.
18. In accordance with Accounting Standard (AS 20) – on Earningsper Share (EPS), the following table reconciles the numerator anddenominator used to calculate basic/diluted earnings per share.
31st March 31st March2008 2007
Profit/(Loss) after tax (Rs.‘000) (2,138,905) (717,033)
Basic earnings before extra-ordinary items [A] (Rs.‘000) (2,138,905) (717,033)
Basic earnings after extra-ordinary items [B] (Rs. ‘000) (2,138,905) (717,033)
Weighted average no. of equityshares (par value of Rs. 10 each) [C] 150,401,109 150,250,730
Basic earnings per share [A/C] (Rs) (14.22) (4.77)
Basic earnings per share excludingextraordinary items [B/C] (Rs) (14.22) (4.77)
As there were no dilutive equity shares issued, or potential equityshares, no reconciliation between the denominator used forcomputation of basic and diluted earnings per share is necessary.
19. Operating lease commitments
The Company has entered into agreements in the nature of Lease/Leave and Licence Agreements with different lessors / licensorsfor the purpose of establishment of office premises. These aregenerally in the nature of operating leases/ leave and licensesand disclosure required as per Accounting Standard 19 with regardto the above is as under:
(Rupees ‘000)
31st March 31st March2008 2007
Not later than one year 234,595 209,576
Later than one year not laterthan five years 224,021 238,375
Later than five years 25,209 6,511
i) There are no transactions in the nature of sub leases.
ii) Payments recognized in the Revenue account for the year ended31st March 2008, is Rs. 311,331 thousand (Previous Year Rs. 215,236thousand).
iii) The period of agreement is generally for three years andrenewable thereafter at the option of the lessee.
20. (i) Policy administration charges amounting to Rs. 352,451thousand recovered through cancellation of units had beenclassified as Other Income in previous year, now reclassifiedwith Gross Written Premium.
(ii) Income, Expense, Asset and Liability of Health business, whichwere part of Non Participating Individual Assurance inprevious year, are shown separately.
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
44
Schedules forming part of the financial statements for the year ended on 31st March 2008 (continued)
Schedule - 21 : Segment ReportingThe Company’s reportable segments are business segments which have been identified in accordance with the regulations. The operating expenses,
investments and other income attributable to the business segments are allocated as mentioned in Paragraph 10 above. Segment revenues and
results have been disclosed in the Financial Statements itself. Segment assets and liabilities have been identified to the extent possible in the
following table. There are no reportable geographical segments since the company provides services to customers in the Indian market only and
does not distinguish any reportable regions within India.
Current Year Participating Policyholders’ Non-Participati
Particulars Total Individual Individual Individual Individual
Assurance Pension Assurance Health
Policy Liabilities 10,629,046 7,956,912 283,864 169,977 33,645
Provision for linked liabilities 109,541,697 - - - -
Funds for Future Appropriations 949,408 877,422 2,392 35,173 30,612
Reserve for unit linked policies not likely to be revived 2,960,433 - - - -
Loans 30,937 30,934 3 - -
Investments 26,145,823 8,974,379 287,815 205,672 64,511
Assets Held to Cover Linked Liabilities 109,541,697 - - - -
Advances & Other Assets
Outstanding Premium 233,726 221,989 4,833 6,904 -
Due from Other Entities carrying on Insurance business 3,779 2,927 - 772 -
Income accrued on investments 550,108 222,140 4,078 2,707 -
Other Assets 522,456 - - - -
Current Liabilities
Agents Balance 1,774,831 35,325 152 327 3,559
Balance due to other Insurance Companies 18,869 4,061 239 903 2,508
Sundry Creditors 5,964,059 9,708 355 150 -
Due to Offficers of the Company - - - - -
Claims Outstanding 218,655 26,265 57 637 89
Premium received in advance 170,855 923 3 24 8
Premium & Other Deposits 1,739,853 - - - -
Payable - unsettled investment contracts 1,211 - - - -
Temporary overdraft as per books of accounts 409,891 - - - -
Fixed assets are not identifiable to any particular business segment. Depreciation has been allocated based on the assumption that the use of assets is proportional
to the basis referred to in Note 10(b) of Schedule 16.
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
45
The operating expenses,
Segment revenues and
e extent possible in the
Indian market only and
(Amount in Rs. ‘000)
ipating Policyholders’ Non-Participating Policyholders’ Linked Linked Policyholders’ Shareholders’ Unallocated
vidual Individual Individual Individual Individual Group Individual Individual Group Super- Group
urance Pension Assurance Health Annuity Assurance Assurance Pension annuation Gratuity
56,912 283,864 169,977 33,645 62,357 314,661 1,728,642 74,888 - 4,100 - -
- - - - - - 102,438,036 4,974,370 324,221 1,805,070 - -
77,422 2,392 35,173 30,612 3,809 - - - - - - -
- - - - - - 2,960,433 - - - - -
30,934 3 - - - - - - - - - -
74,379 287,815 205,672 64,511 66,586 314,840 4,690,975 75,066 2,244 4,880 11,458,855 -
- - - - - - 102,438,036 4,974,370 324,221 1,805,070 - -
21,989 4,833 6,904 - - - - - - - - -
2,927 - 772 - - - 80 - - - - -
22,140 4,078 2,707 - 714 6,569 88,938 1,661 22 32 223,247 -
- - - - - - - - - - - 522,456
35,325 152 327 3,559 19 1,590 1,714,550 19,309 - - - -
4,061 239 903 2,508 - - 11,139 19 - - - -
9,708 355 150 - - - - - - - - 5,953,846
- - - - - - - - - - - -
26,265 57 637 89 - 21,544 169,976 87 - - - -
923 3 24 8 - - 169,897 - - - - -
- - - - - - - - - - - 1,739,853
- - - - - - - - - - - 1,211
- - - - - - - - - - - 409,891
se of assets is proportional
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
46
Schedules forming part of the financial statements for the year ended on 31st March 2008 (continued)
Schedule - 21 : Segment ReportingThe Company’s reportable segments are business segments which have been identified in accordance with the regulations. The operating expenses,
investments and other income attributable to the business segments are allocated as mentioned in Paragraph 10 above. Segment revenues and
results have been disclosed in the Financial Statements itself. Segment assets and liabilities have been identified to the extent possible in the
following table. There are no reportable geographical segments since the company provides services to customers in the Indian market only and
does not distinguish any reportable regions within India.
Previous Year Participating Policyholders’ Non-Participati
Particulars Total Individual Individual Individual Individual
Assurance Pension Assurance Health
Policy Liabilities 6,712,906 5,493,958 211,463 145,693 8,343
Provision for linked liabilities 51,868,401 - - - -
Funds for Future Appropriations 670,923 585,104 4,383 39,757 11,204
Reserve for unit linked policies not likely to be revived 1,358,813 - - - -
Loans 18,630 18,627 3 - -
Investments 15,587,258 6,162,724 220,101 188,525 19,658
Assets Held to Cover Linked Liabilities 51,868,401 - - - -
Advances & Other Assets
Outstanding Premium 310,762 295,819 5,780 1,447 7,616
Due from Other Entities carrying on Insurance business 2,933 2,009 - - -
Income accrued on investments 248,188 132,452 1,976 3,136 -
Other Assets 292,594 - - - -
Current Liabilities
Agents Balance 1,817,710 81,661 283 975 1,249
Balance due to other Insurance Companies 81,844 23,631 381 1,324 -
Sundry Creditors 4,359,434 17,267 375 28 336
Due to Offficers of the Company 6,249 - - - -
Claims Outstanding 110,639 29,194 209 2,229 -
Premium received in advance 111,184 4,104 59 57 -
Premium & Other Deposits 1,552,322 146,943 2,102 8,220 -
Temporary overdraft as per books of accounts 53,665 - - - -
Fixed assets are not identifiable to any particular business segment. Depreciation has been allocated based on the assumption that the use of assets is proportional
to the basis referred to in Note 10(b) of Schedule 16.
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
47
The operating expenses,
Segment revenues and
e extent possible in the
Indian market only and
(Amount in Rs. ‘000)
ipating Policyholders’ Non-Participating Policyholders’ Linked Linked Policyholders’ Shareholders’ Unallocated
vidual Individual Individual Individual Individual Group Individual Individual Group Super- Group
urance Pension Assurance Health Annuity Assurance Assurance Pension annuation Gratuity
93,958 211,463 145,693 8,343 43,243 198,175 591,016 21,015 - - - -
- - - - - - 48,951,610 2,408,838 96,819 411,134 - -
85,104 4,383 39,757 11,204 7,019 23,456 - - - - - -
- - - - - - 1,358,813 - - - - -
8,627 3 - - - - - - - - - -
62,724 220,101 188,525 19,658 50,900 231,297 2,152,260 21,112 2,610 1,571 6,536,500 -
- - - - - - 48,951,610 2,408,838 96,819 411,134 - -
95,819 5,780 1,447 7,616 100 - - - - - - -
2,009 - - - - - 924 - - - - -
32,452 1,976 3,136 - 259 4,737 33,379 198 35 83 71,935 -
- - - - - - - - - - - 292,594
81,661 283 975 1,249 47 2,826 1,717,320 13,337 5 7 - -
23,631 381 1,324 - 14 5,993 49,057 1,160 50 233 - -
7,267 375 28 336 - - - - - - - 4,341,428
- - - - - - - - - - - 6,249
29,194 209 2,229 - - 37,932 40,737 338 - - - -
4,104 59 57 - - - 102,715 4,249 - - - -
46,943 2,102 8,220 - 304 - 269,805 18,514 - - - 1,106,434
- - - - - - - - - - - 53,665
se of assets is proportional
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
48
Schedules forming part of financial statements for the year ended 31st March 2008
Schedule - 22 : Summary of Financial Statements(Amount in Rs. ‘000)
Sr. Particulars 2007-08 2006-07 2005-06 2004-05 2003-04 2002-03
Policyholders’ Account
1 Gross premium income 97,253,110 53,452,422 31,335,778 10,016,752 2,207,985 691,749
2 Net premium income # 97,120,392 53,359,827 31,282,213 9,980,307 2,192,521 686,197
3 Income from investments (Net) @ 7,001,918 3,096,821 312,417 84,409 45,178 14,916
4 Other Income 3,069,470 1,024,594 1,375,771 504,221 413,529 408,345
5 Total income 107,191,780 57,481,242 32,970,401 10,568,937 2,651,229 1,109,458
6 Commissions (Net) 14,968,622 9,466,813 3,418,670 1,458,351 504,424 124,227
7 Brokerage - - - - - -
8 Operating Expenses related to insurance business 20,043,360 10,730,189 4,868,110 2,154,636 1,323,717 667,177
9 Provisions for tax (Fringe Benefit Tax) 93,313 73,054 41,020 - - -
10 Total Expenses 35,105,295 20,270,056 8,327,800 3,612,987 1,828,141 791,404
11 Payment to policy holders* 8,516,733 6,987,347 6,536,048 565,451 27,917 3,658
12 Increase in actuarial liability** 61,589,436 28,845,060 17,488,362 6,416,858 745,854 274,887
13 Surplus/ Deficit from operations 1,980,316 1,378,779 618,191 (26,359) 49,317 39,509
Shareholders’ Account
14 Total income under Shareholders’ Account 795,036 277,123 106,879 88,271 135,934 138,519
15 Profit/ (loss) before tax (2,138,825) (717,006) (985,406) (367,515) (268,073) (265,486)
16 Provisions for tax 80 27 36 44 57 44
17 Profit/ (loss) after tax (2,138,905) (717,033) (985,442) (367,559) (268,130) (265,530)
18 Profit/ loss carried to Balance Sheet (4,899,034) (2,760,129) (2,043,096) (1,057,654) (690,095) (421,965)
19 Miscellaneous
(A) Policyholders’ account:
Total funds (including unit linked funds) 124,180,044 60,626,486 30,431,495 7,736,819 1,144,717 350,112
Total investments(including unit linked investments) 124,228,665 60,919,159 30,459,323 7,736,825 1,144,717 350,112
Yield on investments (%)(excluding unit linked investments) 8.77% 7.17% 9.80% 7.20% 9.68% 12.01%
(B) Shareholders’ account:
Total funds(net of debit balance in Profit & Loss A/C) 7,207,708 4,245,236 2,955,263 1,616,518 1,790,826 1,562,173
Total investments 11,458,855 6,536,500 2,780,868 1,636,972 1,407,573 1,287,859
Yield on investments (%) 8.66% 7.36% 5.80% 5.60% 9.68% 12.01%
20 Yield on total investments(excluding unit linked investments) 8.72% 7.24% 8.40% 6.30% 9.68% 12.01%
21 Paid up equity capital 1,507,090 1,503,680 1,502,338 1,500,787 1,500,660 1,500,330
22 Net worth 7,207,708 4,245,236 2,955,263 1,616,518 1,790,826 1,562,173
23 Total Assets(net of debit balance in Profit & Loss A/C) 131,387,754 64,871,722 33,386,758 9,353,337 2,935,543 1,912,285
24 Earning per share (Rs.) (14.22) (4.77) (6.56) (2.45) (1.79) (1.77)
25 Book value per share (Rs.) 47.83 28.23 19.67 10.77 11.93 10.40Capital + Surplus/Loss divided by nos. of shares
# Net of reinsurance@ Net of losses* Inclusive of interim bonuses, if any** Includes fund reserve since 2003-04
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
49
Schedules forming part of financial statements for the year ended 31st March 2008
Schedule - 23 : Ratios (Expressed in number of times)
2007-08 2006-07
1 New business premium income growth (segment-wise)(New business premium for current year divided by new businesspremium for previous year)
Participating 0.51 0.70
Non Participating 1.27 1.38
Unit Linked 1.58 1.63
2 Net retention ratio 0.999 0.998(Net premium divided by gross premium)
3 Ratio of expenses of management 0.36 0.38
(Expenses of management including commission divided bythe total gross direct premium with Single Premium)
4 Ratio of expenses of management 0.39 0.49
(Expenses of management including commission expenses divided bythe total gross direct premium without Single Premium)
5 Commission ratio 0.15 0.18(Gross Commission paid to Gross premium)
6 Ratio of policy holders’ liabilities to shareholders’ funds 17.23 14.28
7 Growth rate of share holders’ funds 1.70 1.44
8 Ratio of surplus to policy holders’ liability (*) 0.02 0.02
9 Change in net worth 1.70 1.44
10 Profit after tax/ Total income 0.00 0.00
11 (Total Real Estate + Loans) / Cash & invested assets 0.002 0.004
12 Total investments / (Capital + Surplus) 18.83 15.89
13 Total affiliated investments/ (Capital + Surplus) - -
* Surplus including Contribution from Shareholders’ account
24. The Revenue Account and Balance Sheet for unit linked business has been annexed to this schedule as Appendix II.
Disclosure for ULIP Business as per Unit Linked Disclosure Norms issued vide Circular No. 054/IRDA/F & A/FEB-07 dated February 20, 2007,has been annexed to this schedule as Appendix III.
For Bajaj Allianz Life Insurance Company Limited
Rahul Bajaj Kamesh Goyal Ranjit GuptaChairman Alternate Director & Chief Executive Officer Director
Rajesh Viswanathan Anil Singh Sameer BakshiChief Financial Officer Appointed Actuary Company Secretary
Place : PuneDate : 12th May 2008
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
50
Schedules forming part of financial statements for the year ended 31st March 2008
Related Party Disclosures Appendix I Refer Schedule 16 Note 17
(Amount in Rs. ‘000)
Sr. Related Party Relationship Current Year Previous YearNo. Amount Nature of Balance Amount Nature of Balance
Transaction Outstanding Transaction Outstandingas at 31st as at 31st
March 2008 March 2007Receivable/ Receivable / (Payable) (Payable)
1 Bajaj Auto Ltd. Holding 4,722 Deputation expenses of (1,211) 4,202 Deputation expenses of(now known as Company Advisor -Investments Advisor -Investments -Bajaj Holdings 1,546 Insurance premium - 1,500 Insurance premium -and Investment 744 Insurance claims paid - 1,240 Insurance claims paid -Limited) 866 Amount contributed - 993 Amount contributed -
towards capital towards capital- Lease rent expense of - 118 Lease rent expense of -
premises premises- Reimbursement made of - 14 Reimbursement made of -
Revenue expenditure Revenue expenditure- Purchase of Investments - 353,499 Purchase of Investments -
2 Bajaj Finserv Ltd. Shareholder 1,658 Amount contributed - - Amount contributed -towards capital towards capital
3 Bajaj Auto Group 1,751 Insurance premium - 832 Insurance premium -Finance Ltd. Company received received
1,853 Insurance claims paid - - Insurance claims paid -- Lease rent expense of - 118 Lease rent expense of -
premises premises- Society expenses - 20 Society expenses -
reimbursed reimbursed
4 Bajaj Allianz Group 3,887 Insurance Premium - 2,674 Insurance Premium -General Company Received ReceivedInsurance 7,435 Insurance Premium - 7,304 Insurance Premium -Co. Ltd. payment payment
4,938 Reimbursement received - 3,164 Reimbursement received -of Revenue and Capital of Revenue and Capitalexpenditure expenditure
37,023 Reimbursement made - 14,422 Reimbursement made -of Revenue and Capital of Revenue and Capitalexpenditure expenditure
236 Insurance Claim Received - 110 Insurance Claim Received -2,581 Insurance Claims Paid - - Insurance Claims Paid -
- Sale of Investments - 54,074 Sale of Investments -- Purchase of Investments - 49,647 Purchase of Investments -
5 Bajaj Allianz Group 3,394 Reimbursement received 3,088 - Reimbursement received -Financial Company of Revenue Expenditure of Revenue ExpenditureDistributors Ltd.
6 Allianz SE Shareholder 97,257 Revenue expenditure for 1,172 32,125 Revenue expenditure for (31,326)OPUS OPUS
5,098,837 Amount contributed - 2,006,639 Amount contributed -towards capital towards capital
7 Allianz Insurance Group 2,677 Reimbursement received 953 - Reimbursement received -Management Asia Company of Revenue Expenditure of Revenue ExpenditurePacific Pte. Ltd. 709 Reimbursement made of - 2,108 Reimbursement made of (1,015)
Revenue Expenditure Revenue Expenditure
8 Allianz SE Group 47,097 Reinsurance Premium (14,071) 40,932 Reinsurance Premium (40,932)Reinsurance Company Payable PayableBranch Asia 8,226 Reinsurance Commission 2,984 4,423 Reinsurance Commission 4,423Pacific. Receivable Receivable
11,943 Reinsurance Claims 7,068 15,212 Reinsurance Claims 15,212Receivable Receivable
9 Allianz Life Group 121 Reimbursement made of (121) - Reimbursement made of -Insurance Company Revenue Expenditure Revenue ExpenditureMalaysia Berhad
10 Hind Musafir Group 12 Commission on Travel - 24 Commission on Travel -Agency Ltd. Company Expenses Expenses
23 Charges for Domestic (15) Charges for Domestic -Services Services
11 Sam Ghosh Key 3,681 Remuneration - 7,297 Remuneration (6,249)(upto 30/09/07) Management
Personnel
12 Kamesh Goyal Key 5,633 Remuneration - - Remuneration -(from 01/10/07) Management
Personnel
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
51
Appe
ndix
II R
efer
Sch
edul
e 16
Not
e 24
Fo
rm A
-RA
(UL)
Fund
Rev
enue
Acc
ount
for
the
year
end
ed 3
1st M
arch
200
8
Part
icul
ars
Sche
dule
Acce
lera
ted
Acc
Mid
Cap
Acc
Mid
Cap
Asse
tAs
set
Bala
nced
Bala
nced
Bala
nced
Bala
ncer
Fund
Pen
sion
Fun
d F
und
Allo
catio
nAl
loca
tion
Fund
Plus
Fun
dPl
us P
ensi
on F
und
Fun
d P
ensi
on F
und
Fun
d
INCO
ME F
ROM
INVE
STM
ENTS
Inte
rest
Inco
me
2,63
227
682
63,8
1661
4-
--
-D
ivid
end
Inco
me
130
1,43
114
,205
6,54
322
--
--
Prof
it/(L
oss)
exc
ludi
ng in
ter s
chem
e11
,429
29,4
8923
0,10
919
,357
5-
--
-Pr
ofit/
(Los
s) o
n in
ter f
und
tran
sfer
/sal
e of
inve
stm
ent
(163
)(1
6)(2
21)
(4,5
80)
--
--
-M
isce
llane
ous I
ncom
e1,
019
736
10,2
1211
,669
98-
--
-U
nrea
lised
Gai
n/(L
oss)
(1,0
78)
(10,
274)
(99,
370)
(521
,500
)(2
,180
)-
--
-
Tota
l Inc
ome
(A)
13,9
6921
,393
155,
617
(424
,695
)(1
,441
)-
--
-
EXPE
NSE
SFu
nd M
anag
emen
t Exp
ense
s85
32,
285
24,7
4923
,419
186
--
--
Fund
Adm
inis
trat
ion
Expe
nses
--
--
--
--
-O
ther
char
ges
F -5
-92
317
4,15
525
0,51
827
2-
--
-
Tota
l Exp
ense
s (B)
853
3,20
819
8,90
427
3,93
745
8-
--
-
Net
Inco
me/
(Los
s) fo
r the
Year
(A-B
)13
,116
18,1
85(4
3,28
7)(6
98,6
32)
(1,8
99)
--
--
Add:
Rev
enue
Acc
ount
at t
he b
egin
ning
of t
he ye
ar4,
207
1,69
2(8
,220
)-
--
--
-Fu
nd R
even
ue A
ccou
nt a
t the
end
of t
he ye
ar17
,323
19,8
77(5
1,50
7)(6
98,6
32)
(1,8
99)
--
--
FORM
A-B
S (U
L)Fu
nd B
alan
ce S
heet
as
at 3
1st M
arch
200
8
Part
icul
ars
Sche
dule
Acce
lera
ted
Acc
Mid
Cap
Acc
Mid
Cap
Asse
tAs
set
Bala
nced
Bala
nced
Bala
nced
Bala
ncer
Fund
Pen
sion
Fun
d F
und
Allo
catio
nAl
loca
tion
Fund
Plus
Fun
dPl
us P
ensi
on F
und
Fun
d P
ensi
on F
und
Fun
d
SOU
RCES
OF F
UN
DS
Polic
y H
olde
r’s F
unds
:Po
licy
Hol
ders
Con
trib
utio
nF
-150
,103
183,
700
2,56
3,25
010
,842
,776
288,
258
1,50
3,10
392
3,23
111
9,98
0-
Reve
nue
Acco
unt
17,3
2319
,877
(51,
507)
(698
,632
)(1
,899
)-
--
-
Tota
l67
,426
203,
577
2,51
1,74
310
,144
,144
286,
359
1,50
3,10
392
3,23
111
9,98
0-
APP
LICA
TIO
N O
F FU
ND
SIn
vest
men
tsF
-264
,031
196,
587
2,34
1,32
18,
887,
638
200,
248
1,50
3,03
292
3,22
211
9,97
8-
Curr
ent A
sset
sF
-33,
461
15,9
8721
1,33
71,
489,
418
93,8
3871
92
-Le
ss : C
urre
nt L
iabi
litie
s and
Pro
visi
ons
F -4
668,
997
40,9
1523
2,91
27,
727
--
--
Net
Cur
rent
Ass
ets
3,39
56,
990
170,
422
1,25
6,50
686
,111
719
2-
Tota
l67
,426
203,
577
2,51
1,74
310
,144
,144
286,
359
1,50
3,10
392
3,23
111
9,98
0-
(a)
Net
Ass
ets a
s per
Bal
ance
Shee
t (Rs
. in th
ousa
nds)
67,4
2620
3,57
72,
511,
743
10,1
44,1
4428
6,35
91,
503,
103
923,
231
119,
980
-(b
)N
umbe
r of U
nits
Out
stan
ding
(in
thou
sand
s)4,
635
13,4
5116
6,93
01,
016,
869
29,7
2494
,731
51,9
247,
109
-N
et A
sset
Val
ue p
er u
nit (
a)/(
b) (R
s.) *
14.5
4715
.135
15.0
479.
976
9.63
415
.867
17.7
8016
.877
-
*Not
e: T
he N
et A
sset
Val
ue p
er u
nit c
alcu
late
d ab
ove
is b
efor
e ap
prop
riatio
n/ e
xpro
pria
tion
char
ge.
(Am
ount
in R
s. ‘0
00 )
(Am
ount
in R
s. ‘0
00 )
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
52
Appe
ndix
II R
efer
Sch
edul
e 16
Not
e 24
Fo
rm A
-RA
(UL)
Fund
Rev
enue
Acc
ount
for
the
year
end
ed 3
1st M
arch
200
8
Part
icul
ars
Sche
dule
Bala
ncer
Bond
Bond
Capi
tal
Capi
tal
Capi
tal
Cash
Cash
Plu
sCa
sh P
lus
Pens
ion
Fund
Pens
ion
Guar
ante
eGu
aran
tee
Guar
ante
eFu
ndFu
ndPe
nsio
n F
und
Fun
d F
und-
201
2 F
und-
201
4 F
und-
201
7 F
und
INCO
ME F
ROM
INVE
STM
ENTS
Inte
rest
Inco
me
-56
,954
4,93
36,
245
424
2,25
617
,967
35,4
323,
578
Div
iden
d In
com
e-
--
269
2422
3-
--
Prof
it/(L
oss)
exc
ludi
ng in
ter s
chem
e-
4,83
581
81,
382
8976
38,
400
11,5
592,
096
Prof
it/(L
oss)
on
inte
r fun
d tr
ansf
er/s
ale
of in
vest
men
t-
525
335
(311
)(8
0)(3
)(9
18)
(1,3
68)
(160
)M
isce
llane
ous I
ncom
e-
16,0
891,
429
234
1530
580
,471
150,
637
12,1
09U
nrea
lised
Gai
n/(L
oss)
-(3
,923
)87
2,63
542
23,
230
307
-
Tota
l Inc
ome
(A)
-74
,480
7,60
210
,454
894
6,77
410
5,95
019
6,26
717
,623
EXPE
NSE
SFu
nd M
anag
emen
t Exp
ense
s-
7,31
763
81,
334
9565
49,
971
13,0
861,
091
Fund
Adm
inis
trat
ion
Expe
nses
--
--
--
12,5
33-
-O
ther
char
ges
F -5
-13
5,33
890
12,
913
206
1,31
623
,554
20,1
771,
412
Tota
l Exp
ense
s (B)
-14
2,65
51,
539
4,24
730
11,
970
46,0
5833
,263
2,50
3
Net
Inco
me/
(Los
s) fo
r the
Year
(A-B
)-
(68,
175)
6,06
36,
207
593
4,80
459
,892
163,
004
15,1
20Ad
d: R
even
ue A
ccou
nt a
t the
beg
inni
ng o
f the
year
-5,
074
670
(96)
(79)
(200
)66
,437
220,
082
10,4
15Fu
nd R
even
ue A
ccou
nt a
t the
end
of t
he ye
ar-
(63,
101)
6,73
36,
111
514
4,60
412
6,32
938
3,08
625
,535
FORM
A-B
S (U
L)Fu
nd B
alan
ce S
heet
as
at 3
1st M
arch
200
8
Part
icul
ars
Sche
dule
Bala
ncer
Bond
Bond
Capi
tal
Capi
tal
Capi
tal
Cash
Cash
Plu
sCa
sh P
lus
Pens
ion
Fund
Pens
ion
Guar
ante
eGu
aran
tee
Guar
ante
eFu
ndFu
ndPe
nsio
n F
und
Fun
d F
und-
201
2 F
und-
201
4 F
und-
201
7 F
und
SOU
RCES
OF F
UN
DS
Polic
y H
olde
r’s F
unds
:Po
licy
Hol
ders
’ Con
trib
utio
nF
-1-
1,25
3,81
891
,745
111,
220
7,79
650
,383
856,
359
1,37
6,69
586
,216
Reve
nue
Acco
unt
-(6
3,10
1)6,
733
6,11
151
44,
604
126,
329
383,
086
25,5
35
Tota
l-
1,19
0,71
798
,478
117,
331
8,31
054
,987
982,
688
1,75
9,78
111
1,75
1
APP
LICA
TIO
N O
F FU
ND
SIn
vest
men
tsF
-2-
1,08
3,65
092
,157
114,
922
8,12
654
,007
956,
968
1,71
1,48
310
7,38
6Cu
rren
t Ass
ets
F -3
-11
5,04
911
,471
2,53
419
31,
039
27,5
7849
,321
4,43
1Le
ss : C
urre
nt L
iabi
litie
s and
Pro
visi
ons
F -4
-7,
982
5,15
012
59
591,
858
1,02
366
Net
Cur
rent
Ass
ets
-10
7,06
76,
321
2,40
918
498
025
,720
48,2
984,
365
Tota
l-
1,19
0,71
798
,478
117,
331
8,31
054
,987
982,
688
1,75
9,78
111
1,75
1
(a)
Net
Ass
ets a
s per
Bal
ance
Shee
t (Rs
. in th
ousa
nds)
-1,
190,
717
98,4
7811
7,33
18,
310
54,9
8798
2,68
81,
759,
781
111,
751
(b)
Num
ber o
f Uni
ts O
utst
andi
ng (i
n th
ousa
nds)
-10
4,38
08,
529
10,6
8775
24,
858
80,7
4413
7,47
68,
781
Net
Ass
et V
alue
per
uni
t (a)
/(b)
(Rs.
) *-
11.4
0811
.546
10.9
7911
.051
11.3
1912
.170
12.8
0112
.726
*Not
e: T
he N
et A
sset
Val
ue p
er u
nit c
alcu
late
d ab
ove
is b
efor
e ap
prop
riatio
n/ e
xpro
pria
tion
char
ge.
(Am
ount
in R
s. ‘0
00 )
(Am
ount
in R
s. ‘0
00 )
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
53
Appe
ndix
II R
efer
Sch
edul
e 16
Not
e 24
Fo
rm A
-RA
(UL)
Fund
Rev
enue
Acc
ount
for
the
year
end
ed 3
1st M
arch
200
8
Part
icul
ars
Sche
dule
Deb
tD
ebt P
lus
Deb
t Plu
sEq
uity
Equi
tyEq
uity
Equi
ty G
row
thEq
uity
Equi
tyFu
nd F
und
Pen
sion
Fund
Gai
nG
row
thPe
nsio
n In
dex
Inde
xFu
ndFu
nd F
und
Fund
Fund
Fun
d - I
I
INCO
ME F
ROM
INVE
STM
ENTS
Inte
rest
Inco
me
94,5
4010
7,27
08,
929
363
4,55
88,
333
279
-26
5D
ivid
end
Inco
me
--
-48
,982
65,8
7712
3,23
87,
106
23,3
2060
,595
Prof
it/(L
oss)
exc
ludi
ng in
ter s
chem
e2,
671
5,98
178
850
1,26
594
8,21
51,
623,
882
171,
375
235,
418
123,
354
Prof
it/(L
oss)
on
inte
r fun
d tr
ansf
er/s
ale
of in
vest
men
t(1
0,74
9)(5
,525
)(1
62)
(10)
(1,1
92)
(2,8
49)
(263
)(7
)(1
32)
Mis
cella
neou
s Inc
ome
20,5
8631
,880
2,21
81,
781
35,7
6610
8,14
65,
917
1,00
18,
332
Unr
ealis
ed G
ain/
(Los
s)23
,790
13,7
831,
010
428,
883
(86,
527)
(1,3
74,3
80)
(175
,291
)17
2,94
9(4
55,7
41)
Tota
l Inc
ome
(A)
130,
838
153,
389
12,7
8398
1,26
496
6,69
748
6,37
09,
123
432,
681
(263
,327
)
EXPE
NSE
SFu
nd M
anag
emen
t Exp
ense
s12
,076
10,2
4284
948
,255
129,
715
297,
704
17,7
3423
,282
83,7
75Fu
nd A
dmin
istr
atio
n Ex
pens
es15
,182
--
60,6
0210
8,47
5-
--
-O
ther
char
ges
F -5
19,1
8423
,445
2,00
853
,431
94,5
161,
869,
886
10,8
7637
,234
877,
858
Tota
l Exp
ense
s (B)
46,4
4233
,687
2,85
716
2,28
833
2,70
62,
167,
590
28,6
1060
,516
961,
633
Net
Inco
me/
(Los
s) fo
r the
Year
(A-B
)84
,396
119,
702
9,92
681
8,97
663
3,99
1(1
,681
,220
)(1
9,48
7)37
2,16
5(1
,224
,960
)Ad
d: R
even
ue A
ccou
nt a
t the
beg
inni
ng o
f the
year
49,2
1659
,078
7,20
81,
264,
084
1,24
3,29
5(7
9,68
1)(8
93)
439,
152
(7,5
02)
Fund
Rev
enue
Acc
ount
at t
he e
nd o
f the
year
133,
612
178,
780
17,1
342,
083,
060
1,87
7,28
6(1
,760
,901
)(2
0,38
0)81
1,31
7(1
,232
,462
)
FORM
A-B
S (U
L)Fu
nd B
alan
ce S
heet
as
at 3
1st M
arch
200
8
Part
icul
ars
Sche
dule
Deb
tD
ebt P
lus
Deb
t Plu
sEq
uity
Equi
tyEq
uity
Equi
ty G
row
thEq
uity
Equi
tyFu
nd F
und
Pen
sion
Fund
Gai
nG
row
thPe
nsio
n In
dex
Inde
xFu
ndFu
nd F
und
Fund
Fund
Fun
d - I
I
SOU
RCES
OF F
UN
DS
Polic
y H
olde
rs’ F
unds
:Po
licy
Hol
ders
’ Con
trib
utio
nF
-140
7,53
51,
111,
369
65,7
001,
851,
492
7,24
9,01
128
,020
,683
1,49
9,41
41,
217,
355
16,7
50,3
58Re
venu
e Ac
coun
t13
3,61
217
8,78
017
,134
2,08
3,06
01,
877,
286
(1,7
60,9
01)
(20,
380)
811,
317
(1,2
32,4
62)
Tota
l54
1,14
71,
290,
149
82,8
343,
934,
552
9,12
6,29
726
,259
,782
1,47
9,03
42,
028,
672
15,5
17,8
96
APP
LICA
TIO
N O
F FU
ND
SIn
vest
men
tsF
-248
2,00
31,
143,
620
76,2
683,
868,
996
8,90
2,31
824
,507
,702
1,35
1,47
31,
961,
908
13,9
11,4
35Cu
rren
t Ass
ets
F -3
69,5
2115
7,63
36,
647
82,1
1424
4,85
12,
036,
366
129,
501
76,9
131,
913,
486
Less
: Cur
rent
Lia
bilit
ies a
nd P
rovi
sion
sF
-410
,377
11,1
0481
16,5
5820
,872
284,
286
1,94
010
,149
307,
025
Net
Cur
rent
Ass
ets
59,1
4414
6,52
96,
566
65,5
5622
3,97
91,
752,
080
127,
561
66,7
641,
606,
461
Tota
l54
1,14
71,
290,
149
82,8
343,
934,
552
9,12
6,29
726
,259
,782
1,47
9,03
42,
028,
672
15,5
17,8
96
(a)
Net
Ass
ets a
s per
Bal
ance
Shee
t (Rs
. in th
ousa
nds)
541,
147
1,29
0,14
982
,834
3,93
4,55
29,
126,
297
26,2
59,7
821,
479,
034
2,02
8,67
215
,517
,896
(b)
Num
ber o
f Uni
ts O
utst
andi
ng (i
n th
ousa
nds)
46,9
1610
6,62
06,
672
177,
975
332,
307
1,94
4,71
311
1,42
172
,515
1,02
2,06
2N
et A
sset
Val
ue p
er u
nit (
a)/(
b) (R
s.) *
11.5
3412
.100
12.4
1522
.107
27.4
6313
.503
13.2
7427
.976
15.1
83
*Not
e: T
he N
et A
sset
Val
ue p
er u
nit c
alcu
late
d ab
ove
is b
efor
e ap
prop
riatio
n/ e
xpro
pria
tion
char
ge.
(Am
ount
in R
s. ‘0
00 )
(Am
ount
in R
s. ‘0
00 )
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
54
Appe
ndix
II R
efer
Sch
edul
e 16
Not
e 24
Fo
rm A
-RA
(UL)
Fund
Rev
enue
Acc
ount
for
the
year
end
ed 3
1st M
arch
200
8
Part
icul
ars
Sche
dule
Equi
ty In
dex
Equi
ty In
dex
Equi
ty M
idca
pEq
uity
Mid
cap
Equi
tyEq
uity
Equi
ty P
lus
Gro
upLi
fe L
ong
Pen
sion
Pens
ion
Fund
Pens
ion
Mid
cap
Plus
Pens
ion
Deb
tG
ain
Fun
d F
und
- II
Fun
d P
lus F
und
Fun
d F
und
Fun
d F
und
INCO
ME F
ROM
INVE
STM
ENTS
Inte
rest
Inco
me
-2
151
21,
933
6,87
052
57
10,0
93D
ivid
end
Inco
me
1,98
14,
205
14,6
671,
847
26,3
1810
4,49
87,
875
--
Prof
it/(L
oss)
exc
ludi
ng in
ter s
chem
e30
,536
17,9
4625
1,46
337
,922
458,
734
1,75
4,94
416
3,18
014
831
Prof
it/(L
oss)
on
inte
r fun
d tr
ansf
er/s
ale
of in
vest
men
t6
12(2
15)
4(1
72)
(1,8
18)
(153
)-
(144
)M
isce
llane
ous I
ncom
e86
720
7,43
393
411
,421
54,0
163,
165
-2,
779
Unr
ealis
ed G
ain/
(Los
s)6,
092
(78,
811)
(83,
303)
(10,
195)
(109
,652
)(3
79,2
92)
(39,
791)
-51
4
Tota
l Inc
ome
(A)
38,7
01(5
5,92
6)19
0,19
630
,514
388,
582
1,53
9,21
813
4,80
121
14,0
73
EXPE
NSE
SFu
nd M
anag
emen
t Exp
ense
s1,
962
5,93
019
,453
2,34
233
,334
212,
979
15,2
7621
1,37
9Fu
nd A
dmin
istr
atio
n Ex
pens
es-
-16
,274
--
--
-1,
723
Oth
er ch
arge
sF
-51,
963
7,37
417
,956
1,10
524
,358
136,
331
7,39
8-
2,09
8
Tota
l Exp
ense
s (B)
3,92
513
,304
53,6
833,
447
57,6
9234
9,31
022
,674
215,
200
Net
Inco
me/
(Los
s) fo
r the
Year
(A-B
)34
,776
(69,
230)
136,
513
27,0
6733
0,89
01,
189,
908
112,
127
-8,
873
Add:
Rev
enue
Acc
ount
at t
he b
egin
ning
of t
he ye
ar47
,323
3,28
724
4,43
334
,949
520,
320
2,23
1,99
218
9,94
2-
3,23
2Fu
nd R
even
ue A
ccou
nt a
t the
end
of t
he ye
ar82
,099
(65,
943)
380,
946
62,0
1685
1,21
03,
421,
900
302,
069
-12
,105
FORM
A-B
S (U
L)Fu
nd B
alan
ce S
heet
as
at 3
1st M
arch
200
8
Part
icul
ars
Sche
dule
Equi
ty In
dex
Equi
ty In
dex
Equi
ty M
idca
pEq
uity
Mid
cap
Equi
tyEq
uity
Equi
ty P
lus
Gro
upLi
fe L
ong
Pen
sion
Pens
ion
Fund
Pens
ion
Mid
cap
Plus
Pens
ion
Deb
tG
ain
Fun
d F
und
- II
Fun
d P
lus F
und
Fun
d F
und
Fun
d F
und
SOU
RCES
OF F
UN
DS
Polic
y H
olde
rs’ F
unds
:Po
licy
Hol
ders
’ Con
trib
utio
nF
-154
,786
1,36
6,63
497
3,78
887
,721
1,36
4,05
111
,072
,463
675,
071
46,1
5716
7,02
8Re
venu
e Ac
coun
t82
,099
(65,
943)
380,
946
62,0
1685
1,21
03,
421,
900
302,
069
-12
,105
Tota
l13
6,88
51,
300,
691
1,35
4,73
414
9,73
72,
215,
261
14,4
94,3
6397
7,14
046
,157
179,
133
APP
LICA
TIO
N O
F FU
ND
SIn
vest
men
tsF
-213
4,13
81,
130,
984
1,33
0,02
814
2,17
62,
133,
680
14,0
51,8
8196
6,98
2-
167,
699
Curr
ent A
sset
sF
-33,
254
201,
683
56,1
9211
,192
106,
131
480,
073
11,4
3146
,157
11,7
57Le
ss : C
urre
nt L
iabi
litie
s and
Pro
visi
ons
F -4
507
31,9
7631
,486
3,63
124
,550
37,5
911,
273
-32
3N
et C
urre
nt A
sset
s2,
747
169,
707
24,7
067,
561
81,5
8144
2,48
210
,158
46,1
5711
,434
Tota
l13
6,88
51,
300,
691
1,35
4,73
414
9,73
72,
215,
261
14,4
94,3
6397
7,14
046
,157
179,
133
(a)
Net
Ass
ets a
s per
Bal
ance
Shee
t (Rs
. in th
ousa
nds)
136,
885
1,30
0,69
11,
354,
734
149,
737
2,21
5,26
114
,494
,363
977,
140
46,1
5717
9,13
3(b
)N
umbe
r of U
nits
Out
stan
ding
(in
thou
sand
s)5,
564
87,3
4464
,292
6,34
599
,500
512,
035
39,1
784,
616
16,6
92N
et A
sset
Val
ue p
er u
nit (
a)/(
b) (R
s.) *
24.6
0114
.892
21.0
7223
.599
22.2
6428
.307
24.9
419.
999
10.7
32
*Not
e: T
he N
et A
sset
Val
ue p
er u
nit c
alcu
late
d ab
ove
is b
efor
e ap
prop
riatio
n/ e
xpro
pria
tion
char
ge.
(Am
ount
in R
s. ‘0
00 )
(Am
ount
in R
s. ‘0
00 )
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
55
Appe
ndix
II R
efer
Sch
edul
e 16
Not
e 24
Fo
rm A
-RA
(UL)
Fund
Rev
enue
Acc
ount
for
the
year
end
ed 3
1st M
arch
200
8
Part
icul
ars
Sche
dule
Liqu
idLi
quid
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Pen
sion
Fund
Bala
nced
Bala
ncer
Bond
Deb
tEq
uity
Equi
ty G
ain
Equi
ty G
row
th F
und
Fun
d F
und
Fun
d F
und
Fun
d F
und
Fun
d
INCO
ME F
ROM
INVE
STM
ENTS
Inte
rest
Inco
me
577
4,15
8-
-12
,844
18,2
22-
1,18
758
2D
ivid
end
Inco
me
--
--
--
6,12
87,
890
13,0
86Pr
ofit/
(Los
s) e
xclu
ding
inte
r sch
eme
147
1,16
3-
-1,
540
2,16
995
,626
170,
635
273,
701
Prof
it/(L
oss)
on
inte
r fun
d tr
ansf
er/s
ale
of in
vest
men
t(2
5)(1
69)
--
436
(284
)4
(135
)(3
13)
Mis
cella
neou
s Inc
ome
1,85
416
,190
--
3,53
05,
303
184
3,03
67,
932
Unr
ealis
ed G
ain/
(Los
s)-
--
-49
21,
678
30,1
64(5
7,65
7)(1
90,9
68)
Tota
l Inc
ome
(A)
2,55
321
,342
--
18,8
4227
,088
132,
106
124,
956
104,
020
EXPE
NSE
SFu
nd M
anag
emen
t Exp
ense
s23
31,
956
--
4,92
65,
624
13,4
5822
,118
47,7
79Fu
nd A
dmin
istr
atio
n Ex
pens
es-
--
--
--
--
Oth
er ch
arge
sF
-51,
228
35,5
40-
-2,
194
5,44
012
,416
20,5
4821
,036
Tota
l Exp
ense
s (B)
1,46
137
,496
--
7,12
011
,064
25,8
7442
,666
68,8
15
Net
Inco
me/
(Los
s) fo
r the
Year
(A-B
)1,
092
(16,
154)
--
11,7
2216
,024
106,
232
82,2
9035
,205
Add:
Rev
enue
Acc
ount
at t
he b
egin
ning
of t
he ye
ar32
81,
832
--
1,35
79,
080
81,1
7794
,057
25,8
44Fu
nd R
even
ue A
ccou
nt a
t the
end
of t
he ye
ar1,
420
(14,
322)
--
13,0
7925
,104
187,
409
176,
347
61,0
49
FORM
A-B
S (U
L)Fu
nd B
alan
ce S
heet
as
at 3
1st M
arch
200
8
Part
icul
ars
Sche
dule
Liqu
idLi
quid
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Pen
sion
Fund
Bala
nced
Bala
ncer
Bond
Deb
tEq
uity
Equi
ty G
ain
Equi
ty G
row
th F
und
Fun
d F
und
Fun
d F
und
Fun
d F
und
Fun
d
SOU
RCES
OF F
UN
DS
Polic
y H
olde
rs’ F
unds
:Po
licy
Hol
ders
’ Con
trib
utio
nF
-126
,486
344,
378
77,1
14-
163,
761
134,
655
315,
804
647,
812
1,85
2,47
6Re
venu
e Ac
coun
t1,
420
(14,
322)
--
13,0
7925
,104
187,
409
176,
347
61,0
49
Tota
l27
,906
330,
056
77,1
14-
176,
840
159,
759
503,
213
824,
159
1,91
3,52
5
APP
LICA
TIO
N O
F FU
ND
SIn
vest
men
tsF
-224
,894
308,
451
77,1
14-
169,
260
154,
350
503,
655
837,
409
1,91
1,96
4Cu
rren
t Ass
ets
F -3
3,03
121
,845
--
7,98
26,
646
614
680
54,0
43Le
ss : C
urre
nt L
iabi
litie
s and
Pro
visi
ons
F -4
1924
0-
-40
21,
237
1,05
613
,930
52,4
82N
et C
urre
nt A
sset
s3,
012
21,6
05-
-7,
580
5,40
9(4
42)
(13,
250)
1,56
1
Tota
l27
,906
330,
056
77,1
14-
176,
840
159,
759
503,
213
824,
159
1,91
3,52
5
(a)
Net
Ass
ets a
s per
Bal
ance
Shee
t (Rs
. in th
ousa
nds)
27,9
0633
0,05
677
,114
-17
6,84
015
9,75
950
3,21
382
4,15
91,
913,
525
(b)
Num
ber o
f Uni
ts O
utst
andi
ng (i
n th
ousa
nds)
2,42
128
,547
5,79
9-
15,9
4113
,968
30,9
9156
,970
145,
581
Net
Ass
et V
alue
per
uni
t (a)
/(b)
(Rs.
) *11
.527
11.5
6213
.298
-11
.093
11.4
3816
.237
14.4
6713
.144
*Not
e: T
he N
et A
sset
Val
ue p
er u
nit c
alcu
late
d ab
ove
is b
efor
e ap
prop
riatio
n/ e
xpro
pria
tion
char
ge.
(Am
ount
in R
s. ‘0
00 )
(Am
ount
in R
s. ‘0
00 )
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
56
Appe
ndix
II R
efer
Sch
edul
e 16
Not
e 24
Fo
rm A
-RA
(UL)
Fund
Rev
enue
Acc
ount
for
the
year
end
ed 3
1st M
arch
200
8
Part
icul
ars
Sche
dule
Prem
ier
Pure
Pure
Secu
reSt
able
Tota
l E
quity
Equi
ty S
tock
Fun
d F
und
Inde
x Fu
nd F
und
Fun
d
INCO
ME F
ROM
INVE
STM
ENTS
Inte
rest
Inco
me
--
-1,
778
35,6
6851
4,69
6D
ivid
end
Inco
me
6,30
56,
735
3,01
74
549
557,
070
Prof
it/(L
oss)
exc
ludi
ng in
ter s
chem
e29
,830
75,9
4721
,473
234
46,5
877,
367,
902
Prof
it/(L
oss)
on
inte
r fun
d tr
ansf
er/s
ale
of in
vest
men
t(4
)(5
0)(4
2)(4
06)
(3)
(31,
320)
Mis
cella
neou
s Inc
ome
477
3,88
72,
523
168
5,09
063
1,37
8U
nrea
lised
Gai
n/(L
oss)
22,7
986,
205
(7,0
08)
(1,3
76)
(34,
893)
(3,0
08,4
41)
Tota
l Inc
ome
(A)
59,4
0692
,724
19,9
6340
252
,998
6,03
1,28
5
EXPE
NSE
SFu
nd M
anag
emen
t Exp
ense
s17
,970
8,38
75,
482
300
6,67
61,
136,
895
Fund
Adm
inis
trat
ion
Expe
nses
--
--
-21
4,78
9O
ther
char
ges
F -5
7,47
955
,070
157,
290
--
4,11
6,94
7
Tota
l Exp
ense
s (B)
25,4
4963
,457
162,
772
300
6,67
65,
468,
631
Net
Inco
me/
(Los
s) fo
r the
Year
(A-B
)33
,957
29,2
67(1
42,8
09)
102
46,3
2256
2,65
4Ad
d: R
even
ue A
ccou
nt a
t the
beg
inni
ng o
f the
year
11,3
4219
,514
225
458
11,4
626,
806,
093
Fund
Rev
enue
Acc
ount
at t
he e
nd o
f the
year
45,2
9948
,781
(142
,584
)56
057
,784
7,36
8,74
7
FORM
A-B
S (U
L)Fu
nd B
alan
ce S
heet
as
at 3
1st M
arch
200
8
Part
icul
ars
Sche
dule
Prem
ier
Pure
Pure
Secu
reSt
able
Tota
l E
quity
Equi
ty S
tock
Fun
d F
und
Inde
x Fu
nd F
und
Fun
d
SOU
RCES
OF F
UN
DS
Polic
y H
olde
rs’ F
unds
:Po
licy
Hol
ders
’ Con
trib
utio
nF
-194
1,73
861
4,40
580
7,70
934
1,73
01,
615,
633
102,
172,
950
Reve
nue
Acco
unt
45,2
9948
,781
(142
,584
)56
057
,784
7,36
8,74
7
Tota
l98
7,03
766
3,18
666
5,12
534
2,29
01,
673,
417
109,
541,
697
APP
LICA
TIO
N O
F FU
ND
SIn
vest
men
tsF
-294
1,03
762
9,41
462
3,76
217
3,17
81,
683,
405
102,
665,
940
Curr
ent A
sset
sF
-358
,423
35,5
3544
,718
189,
578
44,3
108,
138,
046
Less
: Cur
rent
Lia
bilit
ies a
nd P
rovi
sion
sF
-412
,423
1,76
33,
355
20,4
6654
,298
1,26
2,28
9N
et C
urre
nt A
sset
s46
,000
33,7
7241
,363
169,
112
(9,9
88)
6,87
5,75
7
Tota
l98
7,03
766
3,18
666
5,12
534
2,29
01,
673,
417
109,
541,
697
(a)
Net
Ass
ets a
s per
Bal
ance
Shee
t (Rs
. in th
ousa
nds)
987,
037
663,
186
665,
125
342,
290
1,67
3,41
7(b
)N
umbe
r of U
nits
Out
stan
ding
(in
thou
sand
s)66
,708
45,6
3247
,150
26,1
6612
8,39
6N
et A
sset
Val
ue p
er u
nit (
a)/(
b) (R
s.) *
14.7
9614
.533
14.1
0713
.081
13.0
33
*Not
e: T
he N
et A
sset
Val
ue p
er u
nit c
alcu
late
d ab
ove
is b
efor
e ap
prop
riatio
n/ e
xpro
pria
tion
char
ge.
(Am
ount
in R
s. ‘0
00 )
(Am
ount
in R
s. ‘0
00 )
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
57
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II R
efer
Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
1 : P
OLI
CYH
OLD
ERS’
CO
NTR
IBU
TIO
NAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Acce
lera
ted
Acc
Mid
Cap
Acc
Mid
Cap
Asse
tAs
set
Bala
nced
Bala
nced
Bala
nced
Bala
ncer
Fun
d P
ensi
onFu
nd A
lloca
tion
Allo
catio
n F
und
Plus
Fun
dPl
us P
ensi
onFu
nd F
und
Fun
d P
ensi
on F
und
Fun
d
Ope
ning
Bal
ance
63,8
7273
,780
734,
229
--
1,45
3,28
71,
025,
949
100,
613
35,0
54
Add
: Add
ition
dur
ing
the
year
9,95
716
0,61
32,
139,
363
11,1
81,6
9129
6,39
288
0,13
690
2,01
667
,258
-
Less
: Ded
uctio
n du
ring
the
year
23,7
2650
,693
310,
342
338,
915
8,13
483
0,32
01,
004,
734
47,8
9135
,054
Clos
ing
Bala
nce
50,1
0318
3,70
02,
563,
250
10,8
42,7
7628
8,25
81,
503,
103
923,
231
119,
980
-
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II R
efer
Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
1 : P
OLI
CYH
OLD
ERS’
CO
NTR
IBU
TIO
NAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Bala
ncer
Bond
Bond
Capi
tal
Capi
tal
Capi
tal
Cash
Cash
Cash
Plu
s P
ensi
onFu
ndPe
nsio
nGu
aran
tee
Guar
ante
eGu
aran
tee
Fun
dPl
usPe
nsio
n F
und
Fun
d F
und-
201
2 F
und-
201
4 F
und-
201
7 F
und
Fun
d
Ope
ning
Bal
ance
6,58
640
1,84
634
,571
83,0
475,
829
40,7
8987
1,58
71,
546,
672
116,
682
Add
: Add
ition
dur
ing
the
year
-1,
620,
749
241,
944
32,6
472,
279
11,4
401,
123,
205
2,81
1,42
320
3,60
6
Less
: Ded
uctio
n du
ring
the
year
6,58
676
8,77
718
4,77
04,
474
312
1,84
61,
138,
433
2,98
1,40
023
4,07
2
Clos
ing
Bala
nce
-1,
253,
818
91,7
4511
1,22
07,
796
50,3
8385
6,35
91,
376,
695
86,2
16
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II R
efer
Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
1 : P
OLI
CYH
OLD
ERS’
CO
NTR
IBU
TIO
NAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Deb
tD
ebt
Deb
t Plu
sEq
uity
Equi
tyEq
uity
Equi
ty G
row
thEq
uity
Equi
tyFu
nd P
lus
Pens
ion
Fund
Gai
nG
row
thPe
nsio
n In
dex
Inde
xFu
nd F
und
Fun
d F
und
Fun
d F
und
Fun
d - I
I
Ope
ning
Bal
ance
414,
657
611,
762
52,0
581,
786,
198
5,02
0,35
59,
408,
208
642,
292
890,
746
2,69
4,18
6
Add
: Add
ition
dur
ing
the
year
594,
019
2,05
0,45
295
,359
1,79
6,61
45,
258,
235
22,2
84,5
701,
232,
553
1,11
7,48
515
,352
,662
Less
: Ded
uctio
n du
ring
the
year
601,
141
1,55
0,84
581
,717
1,73
1,32
03,
029,
579
3,67
2,09
537
5,43
179
0,87
61,
296,
490
Clos
ing
Bala
nce
407,
535
1,11
1,36
965
,700
1,85
1,49
27,
249,
011
28,0
20,6
831,
499,
414
1,21
7,35
516
,750
,358
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
58
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II R
efer
Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
1 : P
OLI
CYH
OLD
ERS’
CO
NTR
IBU
TIO
NAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Equi
ty In
dex
Equi
ty In
dex
Equi
tyEq
uity
Mid
cap
Equi
tyEq
uity
Equi
ty P
lus
Gro
upLi
fe L
ong
Pen
sion
Pens
ion
Mid
cap
Pens
ion
Mid
cap
Plus
Plus
Pens
ion
Deb
tG
ain
Fun
d F
und
- II
Fun
d F
und
Fun
d F
und
Fun
d F
und
Fun
d
Ope
ning
Bal
ance
71,4
7917
0,12
480
0,64
193
,463
1,37
0,13
09,
294,
510
741,
150
-10
7,33
8
Add
: Add
ition
dur
ing
the
year
52,5
201,
353,
020
771,
464
104,
532
1,17
4,20
49,
343,
712
440,
043
46,1
5712
0,11
5
Less
: Ded
uctio
n du
ring
the
year
69,2
1315
6,51
059
8,31
711
0,27
41,
180,
283
7,56
5,75
950
6,12
2-
60,4
25
Clos
ing
Bala
nce
54,7
861,
366,
634
973,
788
87,7
211,
364,
051
11,0
72,4
6367
5,07
146
,157
167,
028
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II R
efer
Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
1 : P
OLI
CYH
OLD
ERS’
CO
NTR
IBU
TIO
NAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Par
ticul
ars
Liqu
idLi
quid
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Pen
sion
Fund
Bal
ance
dBa
lanc
erBo
nd D
ebt
Equ
ityEq
uity
Gai
nEq
uity
Gro
wth
Fun
d F
und
Fun
d F
und
Fun
d F
und
Fun
d F
und
Ope
ning
Bal
ance
11,1
1810
5,95
285
,702
18,8
9497
,903
157,
545
430,
308
873,
552
1,22
3,23
2
Add
: Add
ition
dur
ing
the
year
52,0
0438
6,24
735
,075
-30
4,52
440
2,31
315
0,34
427
7,95
387
7,41
4
Less
: Ded
uctio
n du
ring
the
year
36,6
3614
7,82
143
,663
18,8
9423
8,66
642
5,20
326
4,84
850
3,69
324
8,17
0
Clos
ing
Bala
nce
26,4
8634
4,37
877
,114
-16
3,76
113
4,65
531
5,80
464
7,81
21,
852,
476
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II R
efer
Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
1 : P
OLI
CYH
OLD
ERS’
CO
NTR
IBU
TIO
NAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Par
ticul
ars
Prem
ier
Pure
Pure
Secu
reSt
able
Tota
lEq
uity
Inde
xEq
uity
Sto
ckFu
ndFu
nd F
und
Fun
d F
und
Ope
ning
Bal
ance
366,
910
371,
812
127,
735
5,84
642
2,10
945
,062
,308
Add
: Add
ition
dur
ing
the
year
673,
399
400,
551
785,
641
337,
747
1,24
6,57
190
,802
,218
Less
: Ded
uctio
n du
ring
the
year
98,5
7115
7,95
810
5,66
71,
863
53,0
4733
,691
,576
Clos
ing
Bala
nce
941,
738
614,
405
807,
709
341,
730
1,61
5,63
310
2,17
2,95
0
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
59
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II R
efer
Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
2 : I
NVE
STM
ENTS
As a
t 31st
Mar
ch 2
008
(Am
ount
in R
s. ‘0
00)
Part
icul
ars
Acce
lera
ted
Acc
Mid
Cap
Acc
Mid
Cap
Asse
tAs
set
Bond
Bond
Capi
tal
Capi
tal
Capi
tal
Cash
Fund
Pen
sion
Fund
Allo
catio
nAl
loca
tion
Fund
Pens
ion
Guar
ante
eGu
aran
tee
Guar
ante
eFu
ndFu
nd F
und
Pen
sion
Fun
d F
und
Fun
d-20
12 F
und-
2014
Fun
d-20
17
APPR
OVE
D IN
VEST
MEN
TS
Gov
ernm
ent B
onds
947
--
211,
773
7,98
251
,724
4,95
033
,994
1,81
812
,795
-
Corp
orat
e Bo
nds
11,5
485
231,
034,
054
14,1
2136
0,50
221
,380
47,3
871,
132
3,21
0-
Infr
astr
uctu
re B
onds
5,06
8-
-2,
006,
876
45,4
0041
8,85
343
,653
3,31
22,
480
13,3
57-
Equi
ty23
,299
148,
353
1,72
2,04
53,
805,
051
88,2
53-
-23
,082
1,95
119
,226
-
Mon
ey M
arke
t8,
897
36,0
3735
8,22
593
3,49
531
,353
167,
121
9,67
464
219
6-
713,
418
Mut
ual F
und
--
--
--
--
--
-
Bank
Fixe
d D
epos
its11
,200
--
23,5
00-
85,4
5012
,500
--
-24
3,55
0
Tota
l60
,959
184,
395
2,08
0,29
38,
014,
749
187,
109
1,08
3,65
092
,157
108,
417
7,57
748
,588
956,
968
OTH
ER IN
VEST
MEN
TS
Corp
orat
e Bo
nds
--
--
--
--
--
-
Infr
astr
uctu
re B
onds
--
--
--
--
--
-
Equi
ty3,
072
12,1
9218
3,96
758
3,18
013
,139
--
6,50
554
95,
419
-
Mon
ey M
arke
t-
--
--
--
--
--
Mut
ual F
und
--
77,0
6128
9,70
9-
--
--
--
Tota
l3,
072
12,1
9226
1,02
887
2,88
913
,139
--
6,50
554
95,
419
-
Gra
nd T
otal
64,0
3119
6,58
72,
341,
321
8,88
7,63
820
0,24
81,
083,
650
92,1
5711
4,92
28,
126
54,0
0795
6,96
8
% o
f App
rove
d to
Tota
l95
.20%
93.8
0%88
.85%
90.1
8%93
.44%
100.
00%
100.
00%
94.3
4%93
.24%
89.9
7%10
0.00
%
% o
f Oth
er th
an A
ppro
ved
to To
tal
4.80
%6.
20%
11.1
5%9.
82%
6.56
%0.
00%
0.00
%5.
66%
6.76
%10
.03%
0.00
%
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
60
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II R
efer
Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
2 : I
NVE
STM
ENTS
As a
t 31st
Mar
ch 2
008
(Am
ount
in R
s. ‘0
00)
Part
icul
ars
Cash
Plu
sCa
sh P
lus
Deb
tD
ebt P
lus
Deb
t Plu
sEq
uity
Equi
tyEq
uity
Equi
tyEq
uity
Equi
ty F
und
Pen
sion
Fun
dFu
ndPe
nsio
n F
und
Gai
nG
row
th G
row
thIn
dex
Inde
xFu
nd F
und
Fun
d F
und
Pen
sion
Fun
d F
und
Fun
d - I
I
APPR
OVE
D IN
VEST
MEN
TS
Gov
ernm
ent B
onds
--
23,9
3776
,894
14,1
48-
-19
,300
--
-
Corp
orat
e Bo
nds
--
258,
766
466,
974
27,9
14-
--
--
-
Infr
astr
uctu
re B
onds
--
573,
889
543,
542
52,6
25-
--
--
-
Equi
ty-
--
--
3,65
8,56
57,
408,
511
17,2
63,5
6499
9,00
01,
909,
657
10,5
97,1
90
Mon
ey M
arke
t1,
327,
583
55,0
8716
1,53
725
1,11
616
,923
17,3
7943
1,03
54,
107,
903
195,
615
13,0
7932
3,42
4
Mut
ual F
und
--
--
--
--
--
-
Bank
Fixe
d D
epos
its38
3,90
052
,300
128,
950
229,
200
22,9
50-
--
--
-
Tota
l1,
711,
483
107,
387
1,14
7,07
91,
567,
726
134,
560
3,67
5,94
47,
839,
546
21,3
90,7
671,
194,
615
1,92
2,73
610
,920
,614
OTH
ER IN
VEST
MEN
TS
Corp
orat
e Bo
nds
--
--
--
--
--
-
Infr
astr
uctu
re B
onds
--
--
--
--
--
-
Equi
ty-
--
--
1,03
1,00
81,
026,
748
2,84
3,17
914
6,85
153
8,28
72,
990,
821
Mon
ey M
arke
t-
--
--
--
--
--
Mut
ual F
und
--
--
--
36,0
2427
3,75
610
,007
--
Tota
l-
--
--
1,03
1,00
81,
062,
772
3,11
6,93
515
6,85
853
8,28
72,
990,
821
Gra
nd T
otal
1,71
1,48
310
7,38
71,
147,
079
1,56
7,72
613
4,56
04,
706,
952
8,90
2,31
824
,507
,702
1,35
1,47
32,
461,
023
13,9
11,4
35
% o
f App
rove
d to
Tota
l10
0.00
%10
0.00
%10
0.00
%10
0.00
%10
0.00
%78
.10%
88.0
6%87
.28%
88.3
9%78
.13%
78.5
0%
% o
f Oth
er th
an A
ppro
ved
to To
tal
0.00
%0.
00%
0.00
%0.
00%
0.00
%21
.90%
11.9
4%12
.72%
11.6
1%21
.87%
21.5
0%
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
61
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II R
efer
Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
2 : I
NVE
STM
ENTS
As a
t 31st
Mar
ch 2
008
(Am
ount
in R
s. ‘0
00)
Part
icul
ars
Equi
ty In
dex
Equi
ty In
dex
Equi
tyEq
uity
Mid
cap
Equi
tyEq
uity
Equi
ty P
lus
Gro
upLi
fe L
ong
Liqu
idLi
quid
Pen
sion
Pens
ion
Mid
cap
Pens
ion
Mid
cap
Plus
Pens
ion
Deb
tG
ain
Pens
ion
Fund
Fun
d F
und
- II
Fun
d F
und
Plu
s Fun
d F
und
Fun
d F
und
Fun
d F
und
APPR
OVE
D IN
VEST
MEN
TS
Gov
ernm
ent B
onds
--
--
--
--
13,8
46-
-
Corp
orat
e Bo
nds
--
173
29-
--
56,8
46-
-
Infr
astr
uctu
re B
onds
--
--
--
--
64,2
58-
-
Equi
ty15
2,16
285
6,04
31,
005,
241
115,
547
1,58
3,73
111
,898
,094
774,
145
--
--
Mon
ey M
arke
t77
533
,277
171,
529
16,0
4027
0,43
425
3,96
182
,785
-18
,049
16,1
9424
9,30
1
Mut
ual F
und
--
--
--
--
--
-
Bank
Fixe
d D
epos
its-
--
--
--
-14
,700
8,70
059
,150
Tota
l15
2,93
788
9,32
01,
176,
787
131,
590
1,85
4,19
412
,152
,055
856,
930
-16
7,69
924
,894
308,
451
OTH
ER IN
VEST
MEN
TS
Corp
orat
e Bo
nds
--
--
--
--
--
-
Infr
astr
uctu
re B
onds
--
--
--
--
--
-
Equi
ty42
,886
241,
664
131,
224
10,5
8621
0,43
11,
589,
415
110,
052
--
--
Mon
ey M
arke
t-
--
--
--
--
--
Mut
ual F
und
--
22,0
17-
69,0
5531
0,41
1-
--
--
Tota
l42
,886
241,
664
153,
241
10,5
8627
9,48
61,
899,
826
110,
052
--
--
Gra
nd T
otal
195,
823
1,13
0,98
41,
330,
028
142,
176
2,13
3,68
014
,051
,881
966,
982
-16
7,69
924
,894
308,
451
% o
f App
rove
d to
Tota
l78
.10%
78.6
3%88
.48%
92.5
5%86
.90%
86.4
8%88
.62%
0.00
%10
0.00
%10
0.00
%10
0.00
%
% o
f Oth
er th
an A
ppro
ved
to To
tal
21.9
0%21
.37%
11.5
2%7.
45%
13.1
0%13
.52%
11.3
8%0.
00%
0.00
%0.
00%
0.00
%
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
62
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II R
efer
Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
2 : I
NVE
STM
ENTS
As a
t 31st
Mar
ch 2
008
(Am
ount
in R
s. ‘0
00)
Part
icul
ars
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Pure
Pure
Secu
reSt
able
Tota
lBo
ndD
ebt
Equ
ityEq
uity
Equi
tyEq
uity
Equ
ity S
tock
Fun
dFu
ndFu
nd F
und
Fun
d G
ain
Fund
Gro
wth
Fun
d In
dex
Fund
Fun
d F
und
APPR
OVE
D IN
VEST
MEN
TS
Gov
ernm
ent B
onds
6,19
116
,516
-6,
700
--
--
90,6
3312
4,47
071
8,61
8
Corp
orat
e Bo
nds
78,9
3787
,941
--
--
--
14,1
3222
9,27
12,
714,
192
Infr
astr
uctu
re B
onds
50,8
9645
,091
--
--
--
33,3
1347
8,81
24,
381,
425
Equi
ty-
-42
1,76
571
2,88
31,
597,
406
724,
454
508,
487
508,
435
4,84
918
1,15
768
,712
,146
Mon
ey M
arke
t22
,536
21,4
601,
145
26,0
0016
8,93
312
,234
54,3
3549
,833
18,3
2023
6,97
610
,883
,856
Mut
ual F
und
--
--
--
--
--
-
Bank
Fixe
d D
epos
its10
,700
22,3
50-
--
--
-11
,500
379,
200
1,69
9,80
0
Tota
l16
9,26
019
3,35
842
2,91
074
5,58
31,
766,
339
736,
688
562,
822
558,
268
172,
747
1,62
9,88
689
,110
,037
OTH
ER IN
VEST
MEN
TS
Corp
orat
e Bo
nds
--
--
--
--
--
-
Infr
astr
uctu
re B
onds
--
--
--
--
--
-
Equi
ty-
-11
8,85
291
,826
141,
822
204,
349
66,5
9265
,494
431
53,5
1912
,464
,060
Mon
ey M
arke
t-
--
--
--
--
--
Mut
ual F
und
--
--
3,80
3-
--
--
1,09
1,84
3
Tota
l-
-11
8,85
291
,826
145,
625
204,
349
66,5
9265
,494
431
53,5
1913
,555
,903
Gra
nd T
otal
169,
260
193,
358
541,
762
837,
409
1,91
1,96
494
1,03
762
9,41
462
3,76
217
3,17
81,
683,
405
102,
665,
940
% o
f App
rove
d to
Tota
l10
0.00
%10
0.00
%78
.06%
89.0
3%92
.38%
78.2
8%89
.42%
89.5
0%99
.75%
96.8
2%86
.80%
% o
f Oth
er th
an A
ppro
ved
to To
tal
0.00
%0.
00%
21.9
4%10
.97%
7.62
%21
.72%
10.5
8%10
.50%
0.25
%3.
18%
13.2
0%
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
63
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Re
fer S
ched
ule
16 N
ote
24
SCH
EDU
LE F
3 : C
URR
ENT
ASSE
TSAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Acce
lera
ted
Acc
Mid
Cap
Acc
Mid
Cap
Asse
tAs
set
Bala
nced
Bala
nced
Bala
nced
Bala
ncer
Fund
Pens
ion
Fun
dAl
loca
tion
Allo
catio
n F
und
Plu
sPl
usFu
nd F
und
Fun
d P
ensi
on F
und
Fun
d P
ensi
on F
und
Accu
red
Inte
rest
1,69
4-
-97
,368
2,23
5-
--
-
Cash
and
ban
k bal
ance
1,76
713
,853
194,
664
1,37
3,29
291
,588
719
2-
Div
iden
d Re
ceiv
able
-18
81,
537
2,42
515
--
--
Rece
ivab
les f
or Sa
le o
f Inv
estm
ents
-1,
946
15,1
3616
,333
--
--
-
Uni
t Col
lect
ion
A/c
--
--
--
--
-
Oth
er C
urre
nt A
sset
s (Fo
r Inv
estm
ents
) :-
--
--
--
--
Appl
icat
ion
Mon
ey-
--
--
--
--
Tota
l3,
461
15,9
8721
1,33
71,
489,
418
93,8
3871
92
-
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Re
fer S
ched
ule
16 N
ote
24
SCH
EDU
LE F
3 : C
URR
ENT
ASSE
TSAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Bala
ncer
Bond
Bond
Capi
tal
Capi
tal
Capi
tal
Cash
Cash
Cash
Plu
sPe
nsio
nFu
nd P
ensi
onGu
aran
tee
Guar
ante
eGu
aran
tee
Fund
Plus
Pens
ion
Fun
d F
und
Fun
d-20
12 F
und-
2014
Fun
d-20
17 F
und
Fun
d
Accu
red
Inte
rest
-30
,706
2,71
32,
464
143
405
7,23
884
93,
586
Cash
and
ban
k bal
ance
-72
,078
8,75
861
4962
720
,340
48,4
7284
5
Div
iden
d Re
ceiv
able
--
-9
17
--
-
Rece
ivab
les f
or Sa
le o
f Inv
estm
ents
-12
,265
--
--
--
-
Uni
t Col
lect
ion
A/c
--
--
--
--
-
Oth
er C
urre
nt A
sset
s (Fo
r Inv
estm
ents
) :-
--
--
--
--
Appl
icat
ion
Mon
ey-
--
--
--
--
Tota
l-
115,
049
11,4
712,
534
193
1,03
927
,578
49,3
214,
431
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
64
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Re
fer S
ched
ule
16 N
ote
24
SCH
EDU
LE F
3 : C
URR
ENT
ASSE
TSAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Deb
tD
ebt
Deb
t Plu
sEq
uity
Equi
tyEq
uity
Equi
tyEq
uity
Equi
ty F
und
Plu
sPe
nsio
nFu
ndG
ain
Gro
wth
Gro
wth
Inde
x In
dex
Fun
d F
und
Fun
d F
und
Pen
sion
Fun
d F
und
Fun
d - I
I
Accu
red
Inte
rest
39,2
1246
,915
4,57
2-
-1,
239
--
-
Cash
and
ban
k bal
ance
22,1
3210
0,49
72,
075
80,7
3624
1,01
62,
032,
570
129,
501
76,2
011,
910,
093
Div
iden
d Re
ceiv
able
--
-1,
378
--
-71
23,
393
Rece
ivab
les f
or Sa
le o
f Inv
estm
ents
8,17
710
,221
--
3,83
52,
557
--
-
Uni
t Col
lect
ion
A/c
--
--
--
--
-
Oth
er C
urre
nt A
sset
s (Fo
r Inv
estm
ents
) :-
--
--
--
--
Appl
icat
ion
Mon
ey-
--
--
--
--
Tota
l69
,521
157,
633
6,64
782
,114
244,
851
2,03
6,36
612
9,50
176
,913
1,91
3,48
6
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Re
fer S
ched
ule
16 N
ote
24
SCH
EDU
LE F
3 : C
URR
ENT
ASSE
TSAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Equi
ty In
dex
Equi
ty In
dex
Equi
tyEq
uity
Equi
tyEq
uity
Equi
ty P
lus
Gro
upLi
fe L
ong
Pens
ion
Pens
ion
Mid
cap
Mid
cap
Mid
cap
Plus
Pen
sion
Deb
t G
ain
Fun
d F
und
- II
Fun
d P
ensi
on F
und
Plu
s Fun
d F
und
Fun
d F
und
Fun
d
Accu
red
Inte
rest
--
--
--
--
5,78
7
Cash
and
ban
k bal
ance
3,19
720
1,41
832
,386
9,06
774
,553
473,
492
11,4
3146
,157
5,97
0
Div
iden
d Re
ceiv
able
5726
550
117
992
1-
--
-
Rece
ivab
les f
or Sa
le o
f Inv
estm
ents
--
23,3
051,
946
30,6
576,
581
--
-
Uni
t Col
lect
ion
A/c
--
--
--
--
-
Oth
er C
urre
nt A
sset
s (Fo
r Inv
estm
ents
) :-
--
--
--
--
Appl
icat
ion
Mon
ey-
--
--
--
--
Tota
l3,
254
201,
683
56,1
9211
,192
106,
131
480,
073
11,4
3146
,157
11,7
57
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
65
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Re
fer S
ched
ule
16 N
ote
24
SCH
EDU
LE F
3 : C
URR
ENT
ASSE
TSAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Prem
ier
Pure
Pure
Secu
reSt
able
Tota
lEq
uity
Equi
ty S
tock
Fun
d F
und
Inde
x Fu
nd F
und
Fun
d
Accu
red
Inte
rest
--
-3,
811
43,5
2031
2,15
6
Cash
and
ban
k bal
ance
58,1
7230
,657
38,1
5116
5,32
579
07,
649,
041
Div
iden
d Re
ceiv
able
251
481
406
--
12,8
90
Rece
ivab
les f
or Sa
le o
f Inv
estm
ents
-4,
397
6,16
120
,442
-16
3,95
9
Uni
t Col
lect
ion
A/c
--
--
--
Oth
er C
urre
nt A
sset
s (Fo
r Inv
estm
ents
) :-
--
--
-
Appl
icat
ion
Mon
ey-
--
--
-
Tota
l58
,423
35,5
3544
,718
189,
578
44,3
108,
138,
046
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Re
fer S
ched
ule
16 N
ote
24
SCH
EDU
LE F
3 : C
URR
ENT
ASSE
TSAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Liqu
idLi
quid
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Pen
sion
Fund
Bala
nced
Bala
ncer
Bon
d D
ebt
Equi
tyEq
uity
Equi
ty F
und
Fun
d F
und
Fun
d F
und
Fun
d G
ain
Fund
Gro
wth
Fun
d
Accu
red
Inte
rest
855
4,24
8-
-5,
520
6,64
6-
430
-
Cash
and
ban
k bal
ance
2,17
617
,597
--
2,46
2-
450
250
54,0
43
Div
iden
d Re
ceiv
able
--
--
--
164
--
Rece
ivab
les f
or Sa
le o
f Inv
estm
ents
--
--
--
--
-
Uni
t Col
lect
ion
A/c
--
--
--
--
-
Oth
er C
urre
nt A
sset
s (Fo
r Inv
estm
ents
) :-
--
--
--
--
Appl
icat
ion
Mon
ey-
--
--
--
--
Tota
l3,
031
21,8
45-
-7,
982
6,64
661
468
054
,043
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
66
Sche
dule
s to
Fund
Rev
enue
Acc
ount
Ap
pend
ix II
Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
4 : C
URR
ENT
LIAB
ILIT
IES
As a
t 31st
Mar
ch 2
008
(Am
ount
in R
s. ‘0
00)
Part
icul
ars
Acce
lera
ted
Acc
Mid
Cap
Acc
Mid
Cap
Asse
tAs
set
Bala
nced
Bala
nced
Bala
nced
Bala
ncer
Fun
d P
ensi
onFu
ndAl
loca
tion
Allo
catio
nFu
ndPl
usPl
us P
ensi
onFu
ndFu
nd F
und
Pen
sion
Fun
d F
und
Fun
d
Paya
ble
for p
urch
ase
of In
vest
men
ts-
8,72
937
,720
224,
567
7,58
1-
--
-
Oth
er C
urre
nt Li
abili
ties:
6626
83,
195
8,34
514
6-
--
-
Uni
t Pay
able
A/c
--
--
--
--
-
Tota
l66
8,99
740
,915
232,
912
7,72
7-
--
-
Sche
dule
s to
Fund
Rev
enue
Acc
ount
Ap
pend
ix II
Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
4 : C
URR
ENT
LIAB
ILIT
IES
As a
t 31st
Mar
ch 2
008
(Am
ount
in R
s. ‘0
00)
Part
icul
ars
Deb
tD
ebt
Deb
t Plu
sEq
uity
Equi
tyEq
uity
Equi
tyEq
uity
Equi
ty F
und
Plu
sPe
nsio
nFu
ndG
ain
Gro
wth
Gro
wth
Inde
x In
dex
Fun
d F
und
Fun
d F
und
Pen
sion
Fun
d F
und
Fun
d - I
I
Paya
ble
for p
urch
ase
of In
vest
men
ts8,
137
10,1
71-
7,52
3-
249,
932
-8,
026
293,
817
Oth
er C
urre
nt Li
abili
ties:
2,24
093
381
9,03
520
,872
34,3
541,
940
2,12
313
,208
Uni
t Pay
able
A/c
--
--
--
--
-
Tota
l10
,377
11,1
0481
16,5
5820
,872
284,
286
1,94
010
,149
307,
025
Sche
dule
s to
Fund
Rev
enue
Acc
ount
Ap
pend
ix II
Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
4 : C
URR
ENT
LIAB
ILIT
IES
As a
t 31st
Mar
ch 2
008
(Am
ount
in R
s. ‘0
00)
Part
icul
ars
Bala
ncer
Bond
Bond
Capi
tal
Capi
tal
Capi
tal
Cash
Cash
Cash
Plu
sPe
nsio
nFu
ndPe
nsio
nGu
aran
tee
Guar
ante
eGu
aran
tee
Fun
dPl
usPe
nsio
n F
und
Fun
d F
und-
201
2 F
und-
201
4 F
und-
201
7 F
und
Fun
d
Paya
ble
for p
urch
ase
of In
vest
men
ts-
7,12
05,
086
--
--
--
Oth
er C
urre
nt Li
abili
ties:
-86
264
125
959
1,85
81,
023
66
Uni
t Pay
able
A/c
--
--
--
--
-
Tota
l-
7,98
25,
150
125
959
1,85
81,
023
66
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
67
Sche
dule
s to
Fund
Rev
enue
Acc
ount
Ap
pend
ix II
Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
4 : C
URR
ENT
LIAB
ILIT
IES
As a
t 31st
Mar
ch 2
008
(Am
ount
in R
s. ‘0
00)
Part
icul
ars
Equi
ty In
dex
Equi
ty In
dex
Equi
tyEq
uity
Mid
cap
Equi
ty M
idca
pEq
uity
Equi
ty P
lus
Gro
upLi
fe L
ong
Pens
ion
Pens
ion
Mid
cap
Pens
ion
Plus
Plus
Pens
ion
Deb
t G
ain
Fun
d F
und
- II
Fun
d F
und
Fun
d F
und
Fun
d F
und
Fun
d
Paya
ble
for p
urch
ase
of In
vest
men
ts34
130
,928
28,4
133,
446
21,8
3619
,488
--
-
Oth
er C
urre
nt Li
abili
ties:
166
1,04
83,
073
185
2,71
418
,103
1,27
3-
323
Uni
t Pay
able
A/c
--
--
--
--
-
Tota
l50
731
,976
31,4
863,
631
24,5
5037
,591
1,27
3-
323
Sche
dule
s to
Fund
Rev
enue
Acc
ount
Ap
pend
ix II
Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
4 : C
URR
ENT
LIAB
ILIT
IES
As a
t 31st
Mar
ch 2
008
(Am
ount
in R
s. ‘0
00)
Part
icul
ars
Prem
ier
Pure
Pure
Secu
reSt
able
Tota
l E
quity
Inde
xEq
uity
Stoc
k F
und
Fun
d F
und
Fun
d F
und
Paya
ble
for u
rcha
se o
f Inv
estm
ents
10,3
4898
32,
458
20,3
4353
,457
1,12
0,87
6
Oth
er C
urre
nt Li
abili
ties:
2,07
578
089
712
384
114
1,41
3
Uni
t Pay
able
A/c
--
--
--
Tota
l12
,423
1,76
33,
355
20,4
6654
,298
1,26
2,28
9
Sche
dule
s to
Fund
Rev
enue
Acc
ount
Ap
pend
ix II
Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
4 : C
URR
ENT
LIAB
ILIT
IES
As a
t 31st
Mar
ch 2
008
(Am
ount
in R
s. ‘0
00)
Par
ticul
ars
Liqu
idLi
quid
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Pen
sion
Fund
Bala
nced
Bala
ncer
Bon
d D
ebt
Equ
ityEq
uity
Gai
nEq
uity
Fun
d F
und
Fun
d F
und
Fun
d F
und
Fun
d G
row
th F
und
Paya
ble
for p
urch
ase
of In
vest
men
ts-
--
--
--
12,2
7748
,149
Oth
er C
urre
nt Li
abili
ties:
1924
0-
-40
21,
237
1,05
61,
653
4,33
3
Uni
t Pay
able
A/c
--
--
--
--
-
Tota
l19
240
--
402
1,23
71,
056
13,9
3052
,482
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
68
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II
Refe
r Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
5 : O
THER
EXP
ENSE
SAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Acce
lera
ted
Acc
Mid
Cap
Acc
Mid
Cap
Asse
tAs
set
Bond
Bond
Capi
tal
Capi
tal
Fund
Pen
sion
Fund
Allo
catio
nAl
loca
tion
Fund
Pen
sion
Guar
ante
e G
uara
ntee
Fund
Fun
d P
ensi
on F
und
Fun
d F
und-
201
2 F
und-
201
4
Polic
y Ad
min
istr
atio
n Ch
arge
-89
786
,755
186,
999
-64
,016
879
1,60
210
4
Surr
ende
r Cha
rge
--
--
--
--
-
Switc
hing
Cha
rge
-1
2-
-32
12-
-
Mor
talit
y Cha
rge
-9
74,5
3259
,044
255
48,7
132
1,29
810
1
Ride
r Pre
miu
m C
harg
e-
112
,684
4,47
517
22,4
90-
--
Part
ial W
ithdr
awal
Cha
rge
--
--
--
--
-
Mis
cella
neou
s Cha
rge
-15
182
--
878
131
Tota
l-
923
174,
155
250,
518
272
135,
338
901
2,91
320
6
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II
Refe
r Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
5 : O
THER
EXP
ENSE
SAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Capi
tal
Cash
Cash
Cash
Plu
sD
ebt
Deb
tD
ebt P
lus
Equi
tyEq
uity
Gua
rant
eeFu
ndPl
usPe
nsio
n F
und
Plus
Pens
ion
Fun
d G
ain
Fun
d- 2
017
Fun
d F
und
Fun
d F
und
Fun
d
Polic
y Ad
min
istr
atio
n Ch
arge
759
-4,
263
712
-6,
799
962
--
Surr
ende
r Cha
rge
--
--
--
--
-
Switc
hing
Cha
rge
-31
82,
035
110
107
983
194
8844
4
Mor
talit
y Cha
rge
551
15,9
4011
,172
348
14,4
1812
,827
545
38,8
9070
,879
Ride
r Pre
miu
m C
harg
e-
6,74
11,
750
423,
986
2,06
686
11,8
4718
,467
Part
ial W
ithdr
awal
Cha
rge
--
--
--
--
-
Mis
cella
neou
s Cha
rge
655
595
720
067
377
022
12,
606
4,72
6
Tota
l1,
316
23,5
5420
,177
1,41
219
,184
23,4
452,
008
53,4
3194
,516
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
69
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II
Refe
r Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
5 : O
THER
EXP
ENSE
SAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Equi
tyEq
uity
Equi
tyEq
uity
Equi
ty In
dex
Equi
ty In
dex
Equi
tyEq
uity
Equi
tyG
row
thG
row
th In
dex
Inde
xPe
nsio
nPe
nsio
nM
idca
pM
idca
pM
idca
p F
und
Pen
sion
Fun
d F
und
Fun
d - I
I F
und
Fun
d - I
I F
und
Pen
sion
Fun
d P
lus F
und
Polic
y Ad
min
istr
atio
n Ch
arge
978,
013
10,6
4813
,995
500,
668
1,06
97,
119
-66
87,
134
Surr
ende
r Cha
rge
--
--
--
--
-
Switc
hing
Cha
rge
166
609
2141
525
294
Mor
talit
y Cha
rge
754,
681
7717
,992
320,
266
482
190
13,2
9617
212
,790
Ride
r Pre
miu
m C
harg
e13
4,90
35
3,41
456
,164
125
113,
907
283,
178
Part
ial W
ithdr
awal
Cha
rge
--
--
--
--
-
Mis
cella
neou
s Cha
rge
2,27
314
01,
224
739
246
4972
823
51,
162
Tota
l1,
869,
886
10,8
7637
,234
877,
858
1,96
37,
374
17,9
561,
105
24,3
58
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II
Refe
r Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
5 : O
THER
EXP
ENSE
SAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Equi
tyEq
uity
Plu
sG
roup
Life
Lon
gLi
quid
Liqu
idPr
emie
rPr
emie
rPr
emie
rPl
us P
ensi
onD
ebt
Gai
n P
ensi
on F
und
Bon
d D
ebt
Equ
ity F
und
Fun
d F
und
Fun
d F
und
Fun
d F
und
Fun
d
Polic
y Ad
min
istr
atio
n Ch
arge
33,7
465,
077
--
1,22
416
,568
1,28
34,
378
10,1
76
Surr
ende
r Cha
rge
--
--
--
--
-
Switc
hing
Cha
rge
3,22
722
6-
--
611
1612
Mor
talit
y Cha
rge
73,6
271,
322
-1,
878
113
,055
878
727
1,92
5
Ride
r Pre
miu
m C
harg
e18
,235
281
--
-5,
888
--
-
Part
ial W
ithdr
awal
Cha
rge
--
--
--
--
-
Mis
cella
neou
s Cha
rge
7,49
649
2-
220
323
2231
930
3
Tota
l13
6,33
17,
398
-2,
098
1,22
835
,540
2,19
45,
440
12,4
16
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
70
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II
Refe
r Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
5 : O
THER
EXP
ENSE
SAs
at 3
1st M
arch
200
8(A
mou
nt in
Rs.
‘000
)
Part
icul
ars
Prem
ier
Prem
ier
Prem
ier
Pure
Pure
Secu
reSt
able
Tota
l E
quity
Gai
nEq
uity
Equi
tyEq
uity
Sto
ck F
und
Fun
d F
und
Gro
wth
Fun
d In
dex
Fund
Fun
d F
und
Polic
y Ad
min
istr
atio
n Ch
arge
16,4
8512
,584
4,62
736
,235
107,
253
--
2,12
3,69
7
Surr
ende
r Cha
rge
--
--
--
--
Switc
hing
Cha
rge
58
4-
--
-8,
660
Mor
talit
y Cha
rge
3,52
68,
151
2,74
816
,507
41,8
26-
-1,
635,
641
Ride
r Pre
miu
m C
harg
e-
--
2,04
98,
177
--
321,
017
Part
ial W
ithdr
awal
Cha
rge
--
--
--
--
Mis
cella
neou
s Cha
rge
532
293
100
279
34-
-27
,932
Tota
l20
,548
21,0
367,
479
55,0
7015
7,29
0-
-4,
116,
947
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
71
Appe
ndix
II R
efer
Sch
edul
e 16
Not
e 24
Fo
rm A
-RA
(UL)
Fund
Rev
enue
Acc
ount
for
the
year
end
ed 3
1st M
arch
200
7
Part
icul
ars
Sche
dule
Acc M
idAc
c Mid
Cap
Acce
lera
ted
Bala
nce
Bala
nce
Plus
Bala
nced
Bala
ncer
Bala
ncer
Bond
Cap
Fund
Pen
sion
Fund
Fun
d F
und
Pen
sion
Fund
Plus
Fun
dFu
nd P
ensi
on F
und
Pen
sion
Fun
d
INCO
ME F
ROM
INVE
STM
ENTS
Inte
rest
Inco
me
211
621,
907
--
--
-73
1D
ivid
end
Inco
me
1,91
827
126
5-
--
--
-Pr
ofit/
(Los
s) e
xclu
ding
inte
r sch
eme
2,11
199
3(4
20)
--
--
-12
Prof
it/(L
oss)
on
inte
r fun
d tr
ansf
er/s
ale
of in
vest
men
t4,
492
2,45
9(2
07)
--
--
-(8
8)M
isce
llane
ous I
ncom
e1,
976
256
384
--
--
-21
2U
nrea
lised
Gai
n/(L
oss)
(16,
252)
(1,8
85)
1,28
3-
--
--
(91)
Tota
l Inco
me
(A)
(5,5
44)
2,15
63,
212
--
--
-77
6
EXPE
NSE
SFu
nd M
anag
emen
t Exp
ense
s2,
676
462
456
--
--
-10
7Fu
nd A
dmin
istra
tion
Expe
nses
--
--
--
--
-O
ther
char
ges
F -5
--
--
--
--
-
Tota
l Exp
ense
s (B)
2,67
646
245
6-
--
--
107
Net
Inco
me/
(Los
s) fo
r the
Year
(A-B
)(8
,220
)1,
694
2,75
6-
--
--
669
Add:
Rev
enue
Acc
ount
at th
e be
ginn
ing
of th
e ye
ar-
-1,
450
--
--
--
Fund
Rev
enue
Acc
ount
at th
e en
d of
the
year
(8,2
20)
1,69
44,
206
--
--
-66
9
FORM
A-B
S (U
L)
Fund
Bal
ance
She
et a
s at
31st
Mar
ch 2
007
Part
icul
ars
Sche
dule
Acc M
idAc
c Mid
Cap
Acce
lera
ted
Bala
nce
Bala
nce
Plus
Bala
nced
Bala
ncer
Bala
ncer
Bond
Cap
Fund
Pen
sion
Fund
Fun
d F
und
Pen
sion
Fund
Plus
Fun
dFu
nd P
ensi
on F
und
Pen
sion
Fun
d
SOU
RCES
OF F
UN
DS
Polic
y H
olde
rs’ F
unds
:Po
licy
Hol
ders
’ Con
trib
utio
nF
-173
4,22
873
,779
63,8
721,
453,
288
100,
612
1,02
5,94
835
,054
6,58
634
,571
Reve
nue A
ccou
nt(8
,220
)1,
694
4,20
6-
--
--
669
Tota
l72
6,00
875
,473
68,0
781,
453,
288
100,
612
1,02
5,94
835
,054
6,58
635
,240
APPL
ICAT
ION
OF F
UN
DS
Inve
stm
ents
F -2
599,
233
64,9
3764
,726
1,45
3,21
710
0,61
01,
025,
939
35,0
546,
586
22,5
47Cu
rren
t Ass
ets
F -3
148,
302
11,1
243,
372
712
9-
-12
,695
Less
: Cur
rent
Liab
ilitie
s and
Pro
visi
ons
F -4
21,5
2758
820
--
--
-2
Net
Cur
rent
Ass
ets
126,
775
10,5
363,
352
712
9-
-12
,693
Tota
l72
6,00
875
,473
68,0
781,
453,
288
100,
612
1,02
5,94
835
,054
6,58
635
,240
(a)
Net
Ass
ets a
s per
Bal
ance
Shee
t (Rs
. in th
ousa
nds)
726,
008
75,4
7368
,078
1,45
3,28
810
0,61
21,
025,
948
35,0
546,
586
35,2
40(b
)N
umbe
r of U
nits
Out
stan
ding
(in
thou
sand
s)59
,477
6,36
15,
602
105,
264
6,93
366
,677
3,13
159
23,
368
Net
Ass
et V
alue
per
uni
t (a)
/(b)
(Rs.)
*12
.207
11.8
6512
.153
13.8
0614
.512
15.3
8711
.195
11.1
3010
.463
*Not
e: T
he N
et A
sset
Val
ue p
er u
nit c
alcu
late
d ab
ove
is be
fore
app
ropr
iatio
n/ e
x pro
pria
tion
char
ge.
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
72
Appe
ndix
II R
efer
Sch
edul
e 16
Not
e 24
Fo
rm A
-RA
(UL)
Fund
Rev
enue
Acc
ount
for
the
year
end
ed 3
1st M
arch
200
7
Part
icul
ars
Sche
dule
Capi
tal
Capi
tal
Capi
tal
Cash
Cash
Plu
sCa
sh P
lus
Deb
tD
ebt P
lus
Deb
t Plu
s G
uara
ntee
Gua
rant
ee G
uara
ntee
Fund
Fund
Pens
ion
Fund
Fund
Pens
ion
Fund
201
2 F
und
2014
Fund
201
7 F
und
Fun
d
INCO
ME F
ROM
INVE
STM
ENTS
Inte
rest
Inco
me
334
1715
215
,349
47,3
112,
129
77,4
3062
,362
5,82
2D
ivid
end
Inco
me
232
29-
--
--
-Pr
ofit/
(Los
s) e
xclu
ding
inte
r sch
eme
3911
59(9
08)
(903
)21
1(1
2,01
0)(5
,365
)(3
36)
Prof
it/(L
oss)
on
inte
r fun
d tr
ansf
er/s
ale
of in
vest
men
t1
(1)
-(5
45)
(738
)(1
02)
(10,
149)
(6,3
47)
(391
)M
isce
llane
ous I
ncom
e65
-27
46,6
0110
9,74
46,
754
6,07
36,
192
1,32
1U
nrea
lised
Gai
n/(L
oss)
(472
)(1
01)
(416
)1,
346
2,52
8(4
)(4
,428
)(9
,137
)(5
71)
Tota
l Inco
me
(A)
(10)
(72)
(149
)61
,843
157,
942
8,98
856
,916
47,7
055,
845
EXPE
NSE
SFu
nd M
anag
emen
t Exp
ense
s84
650
8,20
014
,410
820
10,1
366,
414
671
Fund
Adm
inist
ratio
n Ex
pens
es-
--
10,2
50-
-12
,670
--
Oth
er ch
arge
sF
-5-
--
115
274
6034
127
54
Tota
l Exp
ense
s (B)
846
5018
,565
14,6
8488
022
,840
6,54
172
5
Net
Inco
me/
(Los
s) fo
r the
Year
(A-B
)(9
4)(7
8)(1
99)
43,2
7814
3,25
88,
108
34,0
7641
,164
5,12
0Ad
d: R
even
ue A
ccou
nt at
the
begi
nnin
g of
the
year
--
-23
,159
76,8
242,
307
15,1
3917
,914
2,08
6Fu
nd R
even
ue A
ccou
nt at
the
end
of th
e ye
ar(9
4)(7
8)(1
99)
66,4
3722
0,08
210
,415
49,2
1559
,078
7,20
6
FORM
A-B
S (U
L)
Fund
Bal
ance
She
et a
s at
31st
Mar
ch 2
007
Part
icul
ars
Sche
dule
Capi
tal
Capi
tal
Capi
tal
Cash
Cash
Plu
sCa
sh P
lus
Deb
tD
ebt P
lus
Deb
t Plu
s G
uara
ntee
Gua
rant
ee G
uara
ntee
Fund
Fund
Pens
ion
Fund
Fund
Pens
ion
Fund
201
2 F
und
2014
Fund
201
7 F
und
Fun
d
SOU
RCES
OF F
UN
DS
Polic
y H
olde
rs’ F
unds
:Po
licy
Hol
ders
’ Con
trib
utio
nF
-183
,046
5,82
940
,789
871,
588
1,54
6,67
111
6,68
341
4,65
761
1,76
252
,059
Reve
nue A
ccou
nt(9
4)(7
8)(1
99)
66,4
3722
0,08
210
,415
49,2
1559
,078
7,20
6
Tota
l82
,952
5,75
140
,590
938,
025
1,76
6,75
312
7,09
846
3,87
267
0,84
059
,265
APPL
ICAT
ION
OF F
UN
DS
Inve
stm
ents
F -2
61,3
704,
110
33,7
5389
9,22
91,
655,
624
122,
781
393,
295
428,
126
53,4
21Cu
rren
t Ass
ets
F -3
21,6
351,
657
6,85
538
,994
111,
352
4,34
770
,819
242,
803
5,86
8Le
ss : C
urre
nt Li
abili
ties a
nd P
rovi
sion
sF
-453
1618
198
223
3024
289
24N
et C
urre
nt A
sset
s21
,582
1,64
16,
837
38,7
9611
1,12
94,
317
70,5
7724
2,71
45,
844
Tota
l82
,952
5,75
140
,590
938,
025
1,76
6,75
312
7,09
846
3,87
267
0,84
059
,265
(a)
Net
Ass
ets a
s per
Bal
ance
Shee
t (Rs
. in th
ousa
nds)
82,9
525,
751
40,5
9093
8,02
51,
766,
753
127,
098
463,
872
670,
840
59,2
65(b
)N
umbe
r of U
nits
Out
stan
ding
(in
thou
sand
s)8,
313
588
4,08
283
,728
152,
070
11,0
7243
,510
60,5
435,
248
Net
Ass
et V
alue
per
uni
t (a)
/(b)
(Rs.)
*9.
979
9.77
19.
945
11.2
0311
.618
11.4
7910
.661
11.0
8011
.292
*Not
e: T
he N
et A
sset
Val
ue p
er u
nit c
alcu
late
d ab
ove
is be
fore
app
ropr
iatio
n/ e
x pro
pria
tion
char
ge.
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
73
Appe
ndix
II R
efer
Sch
edul
e 16
Not
e 24
Fo
rm A
-RA
(UL)
Fund
Rev
enue
Acc
ount
for
the
year
end
ed 3
1st M
arch
200
7
Part
icul
ars
Sche
dule
Equi
ty G
row
thEq
uity
Mid
cap
Equi
ty M
idca
pEq
uity
Mid
cap
Equi
ty G
ain
Equi
tyEq
uity
Gro
wth
Equi
ty In
dex
Equi
ty In
dex
Fun
d P
lus F
und
Fun
d P
ensio
n Fu
nd F
und
Fund
Pen
sion
Fun
dFu
nd P
ensi
on F
und
INCO
ME F
ROM
INVE
STM
ENTS
Inte
rest
Inco
me
6,01
78,
468
2,25
820
613
,965
215
274
251
13D
ivid
end
Inco
me
24,6
7126
,073
11,8
151,
663
60,1
6951
,563
1,94
726
,770
2,25
8Pr
ofit/
(Los
s) e
xclu
ding
inte
r sch
eme
(42,
346)
271,
778
150,
924
17,8
9448
4,18
413
7,29
41,
829
25,3
764,
446
Prof
it/(L
oss)
on
inte
r fun
d tr
ansf
er/s
ale
of in
vest
men
t3,
286
81,3
8122
,540
7,21
510
0,64
576
,850
(4,9
94)
54,3
227,
317
Mis
cella
neou
s Inc
ome
25,4
707,
418
6,15
976
225
,997
714
2,14
460
657
Unr
ealis
ed G
ain/
(Los
s)(6
1,51
8)(3
05,9
84)
(140
,191
)(1
9,03
7)(2
68,2
28)
151,
523
1,08
785
,916
4,02
7
Tota
l Inco
me
(A)
(44,
420)
89,1
3453
,505
8,70
341
6,73
241
8,15
92,
287
193,
241
18,1
18
EXPE
NSE
SFu
nd M
anag
emen
t Exp
ense
s35
,261
26,3
5412
,872
1,69
971
,369
30,3
463,
179
15,7
091,
315
Fund
Adm
inist
ratio
n Ex
pens
es-
-10
,726
-59
,475
37,9
32-
--
Oth
er ch
arge
sF
-5-
316
3063
838
471
-33
257
Tota
l Exp
ense
s (B)
35,2
6126
,670
23,6
281,
762
131,
682
68,7
493,
179
16,0
411,
372
Net
Inco
me/
(Los
s) fo
r the
Year
(A-B
)(7
9,68
1)62
,464
29,8
776,
941
285,
050
349,
410
(892
)17
7,20
016
,746
Add:
Rev
enue
Acc
ount
at th
e be
ginn
ing
of th
e ye
ar-
457,
855
214,
556
28,0
0795
8,24
691
4,67
3-
261,
954
30,5
78Fu
nd R
even
ue A
ccou
nt at
the
end
of th
e ye
ar(7
9,68
1)52
0,31
924
4,43
334
,948
1,24
3,29
61,
264,
083
(892
)43
9,15
447
,324
FORM
A-B
S (U
L)
Fund
Bal
ance
She
et a
s at
31st
Mar
ch 2
007
Part
icul
ars
Sche
dule
Equi
ty G
row
thEq
uity
Mid
cap
Equi
ty M
idca
pEq
uity
Mid
cap
Equi
ty G
ain
Equi
tyEq
uity
Gro
wth
Equi
ty In
dex
Equi
ty In
dex
Fun
d P
lus F
und
Fun
d P
ensio
n Fu
nd F
und
Fund
Pen
sion
Fun
dFu
nd P
ensi
on F
und
SOU
RCES
OF F
UN
DS
Polic
y H
olde
rs’ F
unds
:Po
licy
Hol
ders
’ Con
trib
utio
nF
-19,
408,
208
1,37
0,13
080
0,64
193
,464
5,02
0,35
61,
786,
199
642,
291
890,
746
71,4
78Re
venu
e Acc
ount
(79,
681)
520,
319
244,
433
34,9
481,
243,
296
1,26
4,08
3(8
92)
439,
154
47,3
24To
tal
9,32
8,52
71,
890,
449
1,04
5,07
412
8,41
26,
263,
652
3,05
0,28
264
1,39
91,
329,
900
118,
802
APPL
ICAT
ION
OF F
UN
DS
Inve
stm
ents
F -2
7,79
2,67
11,
778,
536
993,
014
118,
118
5,97
5,77
63,
028,
089
527,
515
1,40
4,36
311
2,03
5Cu
rren
t Ass
ets
F -3
1,68
1,67
312
8,03
360
,998
11,3
9532
0,30
911
6,06
812
3,45
51,
544
11,2
30Le
ss : C
urre
nt Li
abili
ties a
nd P
rovi
sion
sF
-414
5,81
716
,120
8,93
81,
101
32,4
3393
,875
9,57
176
,007
4,46
3N
et C
urre
nt A
sset
s1,
535,
856
111,
913
52,0
6010
,294
287,
876
22,1
9311
3,88
4(7
4,46
3)6,
767
Tota
l9,
328,
527
1,89
0,44
91,
045,
074
128,
412
6,26
3,65
23,
050,
282
641,
399
1,32
9,90
011
8,80
2(a
)N
et A
sset
s as p
er B
alan
ce Sh
eet (
Rs. in
thou
sand
s)9,
328,
527
1,89
0,44
91,
045,
074
128,
412
6,26
3,65
23,
050,
282
641,
399
1,32
9,90
011
8,80
2(b
)N
umbe
r of U
nits
Out
stan
ding
(in
thou
sand
s)78
9,66
910
0,57
257
,190
6,63
625
7,45
816
8,29
854
,197
58,9
305,
957
Net
Ass
et V
alue
per
uni
t (a)
/(b)
(Rs.)
*11
.813
18.7
9718
.274
19.3
5124
.329
18.1
2411
.835
22.5
6719
.942
*Not
e: T
he N
et A
sset
Val
ue p
er u
nit c
alcu
late
d ab
ove
is be
fore
app
ropr
iatio
n/ e
x pro
pria
tion
char
ge.
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
74
Appe
ndix
II R
efer
Sch
edul
e 16
Not
e 24
Fo
rm A
-RA
(UL)
Fund
Rev
enue
Acc
ount
for
the
year
end
ed 3
1st M
arch
200
7
Part
icul
ars
Sche
dule
Equi
tyEq
uity
Plu
sEq
uity
Inde
xIn
com
eLi
fe L
ong
Liqu
idLi
quid
Nift
yPr
emie
r P
lus
Pen
sion
Pen
sion
Bon
d G
ain
Fund
Pen
sion
Inde
x Eq
uity
Gro
wth
Fund
Fun
dFu
nd-2
Fund
Fun
d F
und
Fun
dFu
nd
INCO
ME F
ROM
INVE
STM
ENTS
Inte
rest
Inco
me
24,9
681,
343
418,
213
5,46
613
46
365
628
Div
iden
d In
com
e12
0,63
610
,221
634
--
--
8,53
64,
648
Prof
it/(L
oss)
exc
ludi
ng in
ter s
chem
e96
2,60
478
,726
272
63(2
38)
162
856
6,37
2Pr
ofit/
(Los
s) o
n in
ter f
und
tran
sfer
/sal
e of
inve
stm
ent
132,
690
15,0
3146
8(6
45)
(394
)(2
7)(8
)2,
313
4,16
6M
isce
llane
ous I
ncom
e49
,216
4,52
946
2,06
851
61,
944
373
990
5,37
8U
nrea
lised
Gai
n/(L
oss)
(491
,991
)(2
2,66
1)2,
334
(3,4
57)
(783
)-
-(1
4,24
7)17
,045
Tota
l Inco
me
(A)
798,
123
87,1
893,
795
6,24
24,
567
2,06
737
3(1
,187
)38
,237
EXPE
NSE
SFu
nd M
anag
emen
t Exp
ense
s14
4,10
612
,219
508
1,16
974
823
544
6,31
512
,391
Fund
Adm
inist
ratio
n Ex
pens
es-
--
-93
5-
--
-O
ther
char
ges
F -5
2,01
913
4-
-50
--
--
Tota
l Exp
ense
s (B)
146,
125
12,3
5350
81,
169
1,73
323
544
6,31
512
,391
Net
Inco
me/
(Los
s) fo
r the
Year
(A-B
)65
1,99
874
,836
3,28
75,
073
2,83
41,
832
329
(7,5
02)
25,8
46Ad
d: R
even
ue A
ccou
nt at
the
begi
nnin
g of
the
year
1,57
9,99
411
5,10
5-
-39
7-
--
-Fu
nd R
even
ue A
ccou
nt at
the
end
of th
e ye
ar2,
231,
992
189,
941
3,28
75,
073
3,23
11,
832
329
(7,5
02)
25,8
46
FORM
A-B
S (U
L)
Fund
Bal
ance
She
et a
s at
31st
Mar
ch 2
007
Part
icul
ars
Sche
dule
Equi
tyEq
uity
Plu
sEq
uity
Inde
xIn
com
eLi
fe L
ong
Liqu
idLi
quid
Nift
yPr
emie
r P
lus
Pen
sion
Pen
sion
Bon
d G
ain
Fund
Pen
sion
Inde
x Eq
uity
Gro
wth
Fund
Fun
dFu
nd-2
Fund
Fun
d F
und
Fun
dFu
nd
SOU
RCES
OF F
UN
DS
Polic
y H
olde
rs’ F
unds
:Po
licy
Hol
ders
’ Con
trib
utio
nF
-19,
294,
509
741,
152
170,
124
401,
846
107,
338
105,
952
11,1
172,
694,
187
1,22
3,23
2Re
venu
e Acc
ount
2,23
1,99
218
9,94
13,
287
5,07
33,
231
1,83
232
9(7
,502
)25
,846
Tota
l11
,526
,501
931,
093
173,
411
406,
919
110,
569
107,
784
11,4
462,
686,
685
1,24
9,07
8
APPL
ICAT
ION
OF F
UN
DS
Inve
stm
ents
F -2
10,9
03,2
0687
2,77
014
5,04
935
5,08
310
3,38
194
,058
9,82
22,
240,
073
1,12
3,23
7Cu
rren
t Ass
ets
F -3
680,
056
62,1
0940
,207
51,8
667,
224
13,7
331,
625
546,
523
135,
081
Less
: Cur
rent
Liab
ilitie
s and
Pro
visi
ons
F -4
56,7
613,
786
11,8
4530
367
199
,911
9,24
0N
et C
urre
nt A
sset
s62
3,29
558
,323
28,3
6251
,836
7,18
813
,726
1,62
444
6,61
212
5,84
1
Tota
l11
,526
,501
931,
093
173,
411
406,
919
110,
569
107,
784
11,4
462,
686,
685
1,24
9,07
8
(a)
Net
Ass
ets a
s per
Bal
ance
Shee
t (Rs
. in th
ousa
nds)
11,5
26,5
0193
1,09
317
3,41
140
6,91
911
0,56
910
7,78
411
,446
2,68
6,68
51,
249,
078
(b)
Num
ber o
f Uni
ts O
utst
andi
ng (i
n th
ousa
nds)
460,
081
42,3
6514
,304
39,0
7411
,179
10,2
511,
092
217,
461
103,
953
Net
Ass
et V
alue
per
uni
t (a)
/(b)
(Rs.)
*25
.053
21.9
7812
.123
10.4
149.
891
10.5
1410
.483
12.3
5512
.016
*Not
e: T
he N
et A
sset
Val
ue p
er u
nit c
alcu
late
d ab
ove
is be
fore
app
ropr
iatio
n/ e
x pro
pria
tion
char
ge.
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
75
Appe
ndix
II R
efer
Sch
edul
e 16
Not
e 24
Fo
rm A
-RA
(UL)
Fund
Rev
enue
Acc
ount
for
the
year
end
ed 3
1st M
arch
200
7
Part
icul
ars
Sche
dule
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Pure
Pure
Bal
ance
d B
alan
cer
Deb
t E
quity
Equ
ity G
ain
Inco
me
Nift
y Ind
ex E
quity
Stoc
kFu
ndFu
ndFu
ndFu
ndFu
ndFu
nd F
und
Fund
Fund
INCO
ME F
ROM
INVE
STM
ENTS
Inte
rest
Inco
me
--
16,8
2378
1,56
82,
855
78-
-D
ivid
end
Inco
me
--
-8,
506
10,9
52-
2,02
33,
833
516
Prof
it/(L
oss)
exc
ludi
ng in
ter s
chem
e-
-(1
56)
2,96
445
,771
4279
08,
083
1,27
4Pr
ofit/
(Los
s) o
n in
ter f
und
tran
sfer
/sal
e of
inve
stm
ent
--
(1,3
34)
10,7
72(6
71)
(288
)1,
238
7,19
42,
098
Mis
cella
neou
s Inc
ome
--
1,64
710
14,
561
844
125
2,80
656
5U
nrea
lised
Gai
n/(L
oss)
--
(2,7
50)
48,3
2412
,126
(863
)10
,764
(8,7
97)
(3,3
74)
Tota
l Inco
me
(A)
--
14,2
3070
,745
74,3
072,
590
15,0
1813
,119
1,07
9
EXPE
NSE
SFu
nd M
anag
emen
t Exp
ense
s-
-5,
239
11,1
5919
,192
1,23
23,
676
4,41
485
5Fu
nd A
dmin
istra
tion
Expe
nses
--
--
--
--
-O
ther
char
ges
F -5
--
6567
67-
-67
-
Tota
l Exp
ense
s (B)
--
5,30
411
,226
19,2
591,
232
3,67
64,
481
855
Net
Inco
me/
(Los
s) fo
r the
Year
(A-B
)-
-8,
926
59,5
1955
,048
1,35
811
,342
8,63
822
4Ad
d: R
even
ue A
ccou
nt at
the
begi
nnin
g of
the
year
--
153
21,6
5739
,009
--
10,8
76-
Fund
Rev
enue
Acc
ount
at th
e en
d of
the
year
--
9,07
981
,176
94,0
571,
358
11,3
4219
,514
224
FORM
A-B
S (U
L)
Fund
Bal
ance
She
et a
s at
31st
Mar
ch 2
007
Part
icul
ars
Sche
dule
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Pure
Pure
Bal
ance
d B
alan
cer
Deb
t E
quity
Equ
ity G
ain
Inco
me
Nift
y Ind
ex E
quity
Stoc
kFu
ndFu
ndFu
ndFu
ndFu
ndFu
nd F
und
Fund
Fund
SOU
RCES
OF F
UN
DS
Polic
y H
olde
rs’ F
unds
:Po
licy
Hol
ders
’ Con
trib
utio
nF
-185
,965
18,6
3215
7,54
643
0,30
987
3,55
197
,902
366,
910
371,
812
127,
735
Reve
nue A
ccou
nt-
-9,
079
81,1
7694
,057
1,35
811
,342
19,5
1422
4
Tota
l85
,965
18,6
3216
6,62
551
1,48
596
7,60
899
,260
378,
252
391,
326
127,
959
APPL
ICAT
ION
OF F
UN
DS
Inve
stm
ents
F -2
85,9
6518
,632
165,
894
511,
344
960,
988
93,6
9835
8,20
536
0,01
311
5,59
1Cu
rren
t Ass
ets
F -3
--
4,56
85,
386
14,1
215,
586
35,3
0032
,952
12,8
97Le
ss : C
urre
nt Li
abili
ties a
nd P
rovi
sion
sF
-4-
-3,
837
5,24
57,
501
2415
,253
1,63
952
9N
et C
urre
nt A
sset
s-
-73
114
16,
620
5,56
220
,047
31,3
1312
,368
Tota
l85
,965
18,6
3216
6,62
551
1,48
596
7,60
899
,260
378,
252
391,
326
127,
959
(a) N
et A
sset
s as p
er B
alan
ce Sh
eet (
Rs. in
thou
sand
s)85
,965
18,6
3216
6,62
551
1,48
596
7,60
899
,260
378,
252
391,
326
127,
959
(b) N
umbe
r of U
nits
Out
stan
ding
(in
thou
sand
s)7,
370
1,71
215
,796
38,4
2373
,001
9,64
130
,981
32,1
4211
,292
Net
Ass
et V
alue
per
uni
t (a)
/(b)
(Rs.)
*11
.664
10.8
8610
.549
13.3
1213
.255
10.2
9612
.209
12.1
7511
.332
*Not
e: T
he N
et A
sset
Val
ue p
er u
nit c
alcu
late
d ab
ove
is be
fore
app
ropr
iatio
n/ e
x pro
pria
tion
char
ge.
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
76
Appe
ndix
II R
efer
Sch
edul
e 16
Not
e 24
Fo
rm A
-RA
(UL)
Fund
Rev
enue
Acc
ount
for t
he y
ear e
nded
31st
Mar
ch 2
007
Part
icul
ars
Sche
dule
Secu
re Fu
ndSt
able
Fund
Tota
l
INCO
ME F
ROM
INVE
STM
ENTS
Inte
rest
Inco
me
399
9,42
731
7,87
6D
ivid
end
Inco
me
326
038
0,20
5Pr
ofit/
(Los
s) e
xclu
ding
inte
r sch
eme
(30)
(964
)2,
141,
320
Prof
it/(L
oss)
on
inte
r fun
d tr
ansf
er/s
ale
of in
vest
men
t23
(3,3
04)
506,
268
Mis
cella
neou
s Inc
ome
761,
126
325,
843
Unr
ealis
ed G
ain/
(Los
s)(2
4)2,
313
(1,0
36,6
46)
Tota
l Inco
me
(A)
447
8,85
82,
634,
866
EXPE
NSE
SFu
nd M
anag
emen
t Exp
ense
s72
1,47
946
7,64
9Fu
nd A
dmin
istra
tion
Expe
nses
--
131,
988
Oth
er ch
arge
sF
-5-
675,
307
Tota
l Exp
ense
s (B)
721,
546
604,
944
Net
Inco
me/
(Los
s) fo
r the
Yea
r (A
-B)
375
7,31
22,
029,
922
Add:
Rev
enue
Acc
ount
at th
e be
ginn
ing
of th
e ye
ar83
4,14
94,
776,
171
Fund
Rev
enue
Acc
ount
at t
he e
nd o
f the
yea
r45
811
,461
6,80
6,09
3
FORM
A-B
S (U
L)
Fund
Bal
ance
She
et a
s at
31st
Mar
ch 2
007
Part
icul
ars
Sche
dule
Secu
re Fu
ndSt
able
Fund
Tota
l
SOU
RCES
OF F
UN
DS
Polic
y H
olde
rs’ F
unds
:Po
licy
Hol
ders
’ Con
trib
utio
nF
-15,
845
422,
109
45,0
62,3
08Re
venu
e Acc
ount
458
11,4
616,
806,
093
Tota
l6,
303
433,
570
51,8
68,4
01
APPL
ICAT
ION
OF F
UN
DS
Inve
stm
ents
F -2
6,17
342
8,19
447
,706
,051
Curr
ent A
sset
sF
-313
35,
928
4,78
9,90
5Le
ss : C
urre
nt Li
abili
ties a
nd P
rovi
sion
sF
-43
552
627,
555
Net
Cur
rent
Ass
ets
130
5,37
64,
162,
350
Tota
l6,
303
433,
570
51,8
68,4
01
(a)
Net
Ass
ets a
s per
Bal
ance
Shee
t (Rs
. in th
ousa
nds)
6,30
343
3,57
0(b
)N
umbe
r of U
nits
Out
stan
ding
(in
thou
sand
s)56
338
,133
Net
Ass
et V
alue
per
uni
t (a)
/(b)
(Rs.)
*11
.189
11.3
70
*Not
e: T
he N
et A
sset
Val
ue p
er u
nit c
alcu
late
d ab
ove
is be
fore
app
ropr
iatio
n/ e
x pro
pria
tion
char
ge.
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
77
Sche
dule
s to
Fund
Rev
enue
Acc
ount
App
endi
x II R
efer
Sch
edul
e 16
Not
e 24
SCH
EDU
LE F
1 : P
OLI
CYH
OLD
ERS’
CO
NTR
IBU
TIO
NAs
at 3
1st M
arch
200
7
Part
icul
ars
Acc M
id C
apAc
c Mid
Cap
Acce
lera
ted
Bala
nce
Bala
nce
Plus
Bala
nced
Plu
sBa
lanc
erBa
lanc
erBo
ndCa
pita
lFu
nd P
ensio
n F
und
Fun
d P
ensio
n F
und
Fun
d P
ensio
nPe
nsio
nGu
aran
tee
Fun
d F
und
Fun
d F
und
Fund
201
2
Ope
ning
Bal
ance
--
35,8
6287
0,29
667
,784
732,
365
--
--
Add
: Add
ition
dur
ing
the
year
776,
099
75,9
5535
,808
1,18
7,21
787
,297
866,
227
44,0
759,
840
56,7
5186
,407
Less
: Ded
uctio
n du
ring
the
year
41,8
712,
176
7,79
860
4,22
554
,469
572,
644
9,02
13,
254
22,1
803,
361
Clos
ing
Bala
nce
734,
228
73,7
7963
,872
1,45
3,28
810
0,61
21,
025,
948
35,0
546,
586
34,5
7183
,046
Sche
dule
s to
Fund
Rev
enue
Acc
ount
SCH
EDU
LE F
1 : P
OLI
CYH
OLD
ERS’
CO
NTR
IBU
TIO
NAs
at 3
1st M
arch
200
7
Part
icul
ars
Capi
tal
Capi
tal
Cash
Cash
Cash
Plu
sD
ebt
Deb
tD
ebt P
lus
Equi
tyEq
uity
Guar
ante
e G
uara
ntee
Fund
Plus
Pen
sion
Fund
Plus
Pen
sion
Grow
thM
idca
p Pl
usFu
nd 2
014
Fund
201
7Fu
ndFu
ndFu
ndFu
ndFu
ndFu
nd
Ope
ning
Bal
ance
--
667,
630
1,78
1,86
061
,753
349,
416
356,
675
38,7
68-
1,40
2,75
7
Add
: Add
ition
dur
ing
the
year
6,15
643
,018
1,50
7,72
95,
721,
227
401,
174
1,17
6,93
01,
810,
128
185,
532
9,95
0,84
31,
339,
714
Less
: Ded
uctio
n du
ring
the
year
327
2,22
91,
303,
771
5,95
6,41
634
6,24
41,
111,
689
1,55
5,04
117
2,24
154
2,63
51,
372,
341
Clos
ing
Bala
nce
5,82
940
,789
871,
588
1,54
6,67
111
6,68
341
4,65
761
1,76
252
,059
9,40
8,20
81,
370,
130
Sche
dule
s to
Fund
Rev
enue
Acc
ount
SCH
EDU
LE F
1 : P
OLI
CYH
OLD
ERS’
CO
NTR
IBU
TIO
NAs
at 3
1st M
arch
200
7
Part
icul
ars
Equi
tyM
idca
pEq
uity
Mid
cap
Equi
ty G
ain
Equi
tyEq
uity
Gro
wth
Equi
tyEq
uity
Inde
xEq
uity
Equi
ty P
lus
Equi
ty In
dex
Fund
Pen
sion
Fun
d F
und
Pen
sion
Inde
x P
ensi
on P
lus
Pen
sion
Pen
sion
Fun
d F
und
Fun
d F
und
Fun
d F
und
Fund
-2
Ope
ning
Bal
ance
548,
339
82,4
922,
805,
988
1,35
0,69
1-
740,
654
56,7
957,
021,
151
533,
115
-
Add
: Add
ition
dur
ing
the
year
704,
296
95,9
024,
260,
597
2,38
1,22
369
3,53
81,
858,
923
147,
285
9,87
8,85
496
4,48
318
7,91
0
Less
: Ded
uctio
n du
ring
the
year
451,
994
84,9
302,
046,
229
1,94
5,71
551
,247
1,70
8,83
113
2,60
27,
605,
496
756,
446
17,7
86
Clos
ing
Bala
nce
800,
641
93,4
645,
020,
356
1,78
6,19
964
2,29
189
0,74
671
,478
9,29
4,50
974
1,15
217
0,12
4
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
78
Sche
dule
s to
Fund
Rev
enue
Acc
ount
SCH
EDU
LE F
1 : P
OLI
CYH
OLD
ERS’
CO
NTR
IBU
TIO
NAs
at 3
1st M
arch
200
7
Part
icul
ars
Prem
ier
Prem
ier
Prem
ier
Pure
Pure
Secu
reSt
able
Tota
lEq
uity
Gai
n In
com
e N
ifty I
ndex
Equ
ity St
ock
Fund
Fund
Fun
dFu
nd F
und
Fun
d F
und
Ope
ning
Bal
ance
581,
557
--
175,
743
-5,
536
98,6
0920
,916
,947
Add
: Add
ition
dur
ing
the
year
1,01
5,05
515
0,95
140
2,29
031
1,79
016
6,47
91,
589
351,
194
55,2
66,4
20
Less
: Ded
uctio
n du
ring
the
year
723,
061
53,0
4935
,380
115,
721
38,7
441,
280
27,6
9431
,121
,059
Clos
ing
Bala
nce
873,
551
97,9
0236
6,91
037
1,81
212
7,73
55,
845
422,
109
45,0
62,3
08
Sche
dule
s to
Fund
Rev
enue
Acc
ount
Appe
ndix
II Re
fer S
ched
ule
16 N
ote
24
SCH
EDU
LE F
1 : P
OLI
CYH
OLD
ERS’
CO
NTR
IBU
TIO
NAs
at 3
1st M
arch
200
7
Part
icul
ars
Inco
me
Life
Lon
gLi
quid
Liqu
idN
ifty
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Bond
Gai
n Fu
nd F
und
Pen
sion
Inde
x E
q. G
row
th B
alan
ced
Bal
ance
r D
ebt F
und
Eq.
Fun
d F
und
Fun
d F
und
Fun
d F
und
Fun
d
Ope
ning
Bal
ance
-52
,796
--
--
42,3
83-
115,
988
339,
944
Add
: Add
ition
dur
ing
the
year
528,
088
89,7
6412
9,32
422
,604
2,87
9,50
71,
321,
195
89,7
7222
,205
860,
857
382,
618
Less
: Ded
uctio
n du
ring
the
year
126,
242
35,2
2223
,372
11,4
8718
5,32
097
,963
46,1
903,
573
819,
299
292,
253
Clos
ing
Bala
nce
401,
846
107,
338
105,
952
11,1
172,
694,
187
1,22
3,23
285
,965
18,6
3215
7,54
643
0,30
9
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
79
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix I
I Ref
er Sc
hedu
le 1
6 N
ote
24
SCH
EDU
LE F
2 : I
NVE
STM
ENTS
As a
t 31st
Mar
ch 2
007
Part
icul
ars
Acc
Acc M
id C
apAc
cele
rate
dBo
ndCa
pita
lCa
pita
lCa
pita
lCa
shCa
shCa
sh P
lus
Mid
Cap
Pen
sion
Fund
Pen
sion
Gur
ante
e G
uran
tee
Gur
ante
eFu
nd P
lus
Pens
ion
Fun
d F
und
Fun
d F
und
2012
Fun
d 20
14 F
und
2017
Fun
d F
und
APPR
OVE
D IN
VEST
MEN
TSG
over
nmen
t Bon
ds-
2,36
3-
-22
,684
483
9,51
0-
--
Corp
orat
e Bo
nds
16,8
342,
948
12,4
904,
490
26,7
132,
563
-71
,136
58,2
08-
Infr
astr
uctu
re B
onds
-56
82,
405
--
-9,
533
16,0
3244
,533
533
Equi
ty39
5,04
643
,129
13,7
64-
9,73
988
59,
414
--
-M
oney
Mar
ket
63,6
712,
976
30,5
8417
,826
--
-81
2,06
11,
552,
883
119,
496
Mut
ual F
und
--
--
--
--
--
Tota
l47
5,55
151
,984
59,2
4322
,316
59,1
363,
931
28,4
5789
9,22
91,
655,
624
120,
029
OTH
ER IN
VEST
MEN
TSCo
rpor
ate
Bond
s-
--
--
--
--
-In
fras
truc
ture
Bon
ds-
--
--
--
--
-Eq
uity
123,
682
12,9
532,
831
-1,
984
179
1,91
8-
--
Mon
ey M
arke
t-
-2,
652
3,87
825
0-
3,37
8-
-2,
752
Mut
ual F
und
--
--
--
--
--
Tota
l12
3,68
212
,953
5,48
33,
878
2,23
417
95,
296
--
2,75
2
Gra
nd T
otal
599,
233
64,9
3764
,726
26,1
9461
,370
4,11
033
,753
899,
229
1,65
5,62
412
2,78
1
% o
f App
rove
d to
Tota
l79
.36%
80.0
5%91
.53%
85.2
0%96
.36%
95.6
4%84
.31%
100.
00%
100.
00%
97.7
6%%
of O
ther
than
App
rove
d to
Tota
l20
.64%
19.9
5%8.
47%
14.8
0%3.
64%
4.36
%15
.69%
0.00
%0.
00%
2.24
%
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
80
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
2 : I
NVE
STM
ENTS
As a
t 31st
Mar
ch 2
007
Part
icul
ars
Deb
tD
ebt P
lus
Deb
t Plu
sEq
uity
Equi
tyEq
uity
Equi
ty M
idca
pEq
uity
Equi
tyEq
uity
Gro
wth
Pens
ion
Gro
wth
Mid
cap
Mid
cap
Pens
ion
Gai
nFu
ndPe
nsio
nFu
nd F
und
Fun
d F
und
Plu
s Fun
d F
und
Fun
d F
und
Fun
d
APPR
OVE
D IN
VEST
MEN
TSG
over
nmen
t Bon
ds4,
173
3,14
3-
98,0
3910
830
716
7-
1,88
8-
Corp
orat
e Bo
nds
419,
828
365,
735
48,7
2610
4,77
695
,389
150
122
1,45
225
,460
18,6
63In
fras
truc
ture
Bon
ds30
5,03
921
7,29
829
,073
30,5
268,
282
6,46
287
257
,818
12,9
052,
416
Equi
ty-
--
5,03
0,36
21,
182,
679
659,
908
78,4
083,
888,
359
3,04
6,94
834
0,74
7M
oney
Mar
ket
349,
257
352,
254
16,6
541,
102,
160
137,
173
126,
992
14,1
9668
7,81
756
,286
68,4
41M
utua
l Fun
d-
--
--
--
--
-
Tota
l1,
078,
297
938,
430
94,4
536,
365,
863
1,42
3,63
179
3,81
993
,644
4,85
5,44
63,
143,
487
430,
267
OTH
ER IN
VEST
MEN
TSCo
rpor
ate
Bond
s20
,236
24,7
714,
876
--
--
--
-In
fras
truc
ture
Bon
ds-
--
--
--
--
-Eq
uity
--
-1,
425,
608
354,
905
197,
944
23,5
361,
119,
330
626,
077
97,2
48M
oney
Mar
ket
6,38
01,
876
5,62
91,
200
-1,
251
938
1,00
012
5-
Mut
ual F
und
--
--
--
--
--
Tota
l26
,616
26,6
4710
,505
1,42
6,80
835
4,90
519
9,19
524
,474
1,12
0,33
062
6,20
297
,248
Gra
nd T
otal
1,10
4,91
396
5,07
710
4,95
87,
792,
671
1,77
8,53
699
3,01
411
8,11
85,
975,
776
3,76
9,68
952
7,51
5
% o
f App
rove
d to
Tota
l97
.59%
97.2
4%89
.99%
81.6
9%80
.05%
79.9
4%79
.28%
81.2
5%83
.39%
81.5
6%%
of O
ther
than
App
rove
d to
Tota
l2.
41%
2.76
%10
.01%
18.3
1%19
.95%
20.0
6%20
.72%
18.7
5%16
.61%
18.4
4%
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
81
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
2 : I
NVE
STM
ENTS
As a
t 31st
Mar
ch 2
007
Part
icul
ars
Equi
ty In
dex
Equi
ty In
dex
Equi
ty P
lus
Equi
ty P
lus
Equi
ty In
dex
Inco
me
Life
Lon
gLi
quid
Liqu
idN
ifty
Fund
Pen
sion
Fun
d P
ensio
n P
ensio
n B
ond
Gai
n F
und
Pen
sion
Inde
x F
und
Fun
d F
und-
2Fu
nd F
und
Fun
d F
und
APPR
OVE
D IN
VEST
MEN
TSG
over
nmen
t Bon
ds3,
643
-19
,368
--
--
--
98Co
rpor
ate
Bond
s2,
499
127
1,72
023
,550
750
106,
145
43,1
6049
9-
16,8
53In
fras
truc
ture
Bon
ds15
0-
246,
629
10,9
45-
50,3
6611
,536
854
--
Equi
ty1,
531,
599
129,
904
7,08
8,41
456
7,19
311
2,94
8-
--
-1,
746,
045
Mon
ey M
arke
t37
,958
4,27
31,
233,
194
106,
523
11,1
7821
6,89
848
,060
91,9
179,
822
135,
135
Mut
ual F
und
--
--
--
--
--
Tota
l1,
575,
849
134,
178
8,85
9,32
570
8,21
112
4,87
637
3,40
910
2,75
693
,270
9,82
21,
898,
131
OTH
ER IN
VEST
MEN
TSCo
rpor
ate
Bond
s-
--
--
--
--
-In
fras
truc
ture
Bon
ds-
--
--
--
--
-Eq
uity
314,
672
26,6
792,
044,
710
163,
909
23,1
13-
--
-35
7,23
1M
oney
Mar
ket
-25
02,
000
650
-1,
439
625
788
--
Mut
ual F
und
--
--
--
--
--
Tota
l31
4,67
226
,929
2,04
6,71
016
4,55
923
,113
1,43
962
578
8-
357,
231
Gra
nd T
otal
1,89
0,52
116
1,10
710
,906
,035
872,
770
147,
989
374,
848
103,
381
94,0
589,
822
2,25
5,36
2
% o
f App
rove
d to
Tota
l83
.36%
83.2
9%81
.23%
81.1
5%84
.38%
99.6
2%99
.40%
99.1
6%10
0.00
%84
.16%
% o
f Oth
er th
an A
ppro
ved
to To
tal
16.6
4%16
.71%
18.7
7%18
.85%
15.6
2%0.
38%
0.60
%0.
84%
0.00
%15
.84%
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
82
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
2 : I
NVE
STM
ENTS
As a
t 31st
Mar
ch 2
007
Part
icul
ars
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Pure
Pure
Secu
reSt
able
Tota
lEq
. Gro
wth
Deb
tEq
.Eq
. Gai
nIn
com
eN
ifty I
ndex
Eq.
Sto
ckFu
ndFu
nd F
und
Fun
d F
und
Fund
Fun
d F
und
Fun
d F
und
APPR
OVE
D IN
VEST
MEN
TSG
over
nmen
t Bon
ds-
- -
6,7
00 -
-49
,997
15,5
6449
21,
477
240,
204
Corp
orat
e Bo
nds
9,14
370
,397
- 1
,001
34,5
67 1
,899
1-
1,74
382
,340
2,16
1,83
0In
fras
truc
ture
Bon
ds48
534
,297
- 3
,035
6,84
0 -
--
683
5,41
01,
115,
525
Equi
ty72
7,28
3 -
450,
827
627
,404
- 2
91,0
7125
4,86
382
,232
433
27,4
6128
,337
,065
Mon
ey M
arke
t17
7,55
210
9,36
95,
472
141
,109
56,2
10 1
3,54
8-
-2,
547
281,
726
8,19
3,21
8M
utua
l Fun
d-
- -
- -
--
--
--
Tota
l91
4,46
321
4,06
345
6,29
9 7
79,2
4997
,617
306
,518
304,
861
97,7
965,
898
398,
414
40,0
47,8
42
OTH
ER IN
VEST
MEN
TSCo
rpor
ate
Bond
s-
- -
- -
--
--
24,0
4173
,924
Infr
astr
uctu
re B
onds
- -
- -
- -
--
--
-Eq
uity
208,
774
-92
,714
181
,739
- 5
9,70
955
,152
17,7
9587
5,62
37,
540,
102
Mon
ey M
arke
t-
- 1
25 -
6,69
3 -
--
188
116
44,1
83M
utua
l Fun
d-
- -
- -
--
--
--
Tota
l20
8,77
4 -
92,8
39 1
81,7
396,
693
59,
709
55,1
5217
,795
275
29,7
807,
658,
209
Gra
nd T
otal
1,12
3,23
721
4,06
354
9,13
8 9
60,9
8810
4,31
0 3
66,2
2736
0,01
311
5,59
16,
173
428,
194
47,7
06,0
51
% o
f App
rove
d to
Tota
l81
.41%
100.
00%
83.0
9%81
.09%
93.5
8%83
.70%
84.6
8%84
.61%
95.5
5%93
.05%
83.9
5%%
of O
ther
than
App
rove
d to
Tota
l18
.59%
0.00
%16
.91%
18.9
1%6.
42%
16.3
0%15
.32%
15.3
9%4.
45%
6.95
%16
.05%
* ‘Eq
. for
Equ
ity’
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
83
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
3 : C
URR
ENT
ASSE
TSAs
at 3
1st M
arch
200
7
Part
icul
ars
Acc M
id C
apAc
c Mid
Cap
Acce
lera
ted
Bala
nce
Bala
nce
Plus
Bala
nced
Bala
ncer
Bala
ncer
Bond
Capi
tal
Fund
Pen
sion
Fund
Fun
d P
ensi
on P
lus F
und
Fun
d P
ensi
on P
ensi
onGu
aran
tee
Fun
d F
und
Fun
d F
und
Fund
201
2
Accr
ued
Inte
rest
1,50
622
71,
178
--
--
-24
986
3
Cash
and
Bank
bal
ance
133,
421
9,35
52,
182
712
9-
-12
,446
20,7
65
Div
iden
d Re
ceiv
able
428
5412
--
--
--
7
Rece
ivab
les f
or Sa
le o
f Inv
estm
ents
2,62
630
3-
--
--
--
-
Uni
t Col
lect
ion
A/c
--
--
--
--
--
Oth
er C
urre
nt A
sset
s (Fo
r Inv
estm
ents
) :-
--
--
--
--
-
Appl
icat
ion
Mon
ey10
,321
1,18
5-
--
--
--
-
Tota
l14
8,30
211
,124
3,37
271
29
--
12,6
9521
,635
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
3 : C
URR
ENT
ASSE
TSAs
at 3
1st M
arch
200
7
Part
icul
ars
Capi
tal
Capi
tal
Cash
Cash
Cash
Plu
sD
ebt
Deb
tD
ebt P
lus
Equi
tyEq
uity
Guar
ante
e G
uara
ntee
Fund
Plu
s P
ensi
onFu
nd P
lus
Pen
sion
Gro
wth
Mid
cap
Fund
201
4Fu
nd 2
017
Fun
d F
und
Fun
d F
und
Fun
d P
lus F
und
Accr
ued
Inte
rest
115
342
4,99
713
,031
160
28,8
9823
,662
2,39
211
,971
6,29
9
Cash
and
Bank
bal
ance
1,54
16,
505
33,9
9798
,321
4,18
741
,921
219,
141
3,47
61,
610,
968
79,9
41
Div
iden
d Re
ceiv
able
18
--
--
--
6,48
31,
575
Rece
ivab
les f
or Sa
le o
f Inv
estm
ents
--
--
--
--
52,2
516,
615
Uni
t Col
lect
ion
A/c
--
--
--
--
--
Oth
er C
urre
nt A
sset
s (Fo
r Inv
estm
ents
) :-
--
--
--
--
-
Appl
icat
ion
Mon
ey-
--
--
--
--
33,6
03
Tota
l1,
657
6,85
538
,994
111,
352
4,34
770
,819
242,
803
5,86
81,
681,
673
128,
033
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
84
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
3 : C
URR
ENT
ASSE
TSAs
at 3
1st M
arch
200
7
Part
icul
ars
Equi
ty M
idca
pEq
uity
Mid
cap
Equi
ty G
ain
Equi
tyEq
uity
Gro
wth
Equi
ty In
dex
Equi
ty In
dex
Equi
tyEq
uity
Plu
sEq
uity
Inde
xFu
nd P
ensio
n F
und
Fun
dPe
nsio
n F
und
Pen
sion
Plu
s P
ensio
n P
ensio
n F
und
Fund
Fun
d F
und
Fun
dFu
nd-2
Accr
ued
Inte
rest
243
415
,831
1,30
398
521
96
28,0
811,
829
64
Cash
and
Bank
bal
ance
37,2
258,
582
234,
707
112,
143
118,
216
-11
,113
526,
112
49,5
8840
,057
Div
iden
d Re
ceiv
able
829
105
5,76
52,
622
447
1,32
511
110
,379
858
86
Rece
ivab
les f
or Sa
le o
f Inv
estm
ents
3,94
347
664
,006
-3,
807
--
115,
484
9,83
4-
Uni
t Col
lect
ion
A/c
--
--
--
--
--
Oth
er C
urre
nt A
sset
s (Fo
r Inv
estm
ents
) :-
--
--
--
--
-
Appl
icat
ion
Mon
ey18
,758
2,22
8-
--
--
--
-
Tota
l60
,998
11,3
9532
0,30
911
6,06
812
3,45
51,
544
11,2
3068
0,05
662
,109
40,2
07
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
3 : C
URR
ENT
ASSE
TSAs
at 3
1st M
arch
200
7
Part
icul
ars
Inco
me
Life
Lon
gLi
quid
Liqu
idN
ifty
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Bond
Fun
d G
ain
Fund
Fun
d P
ensio
n In
dex
Equi
ty G
row
th B
alan
ced
Bal
ance
r D
ebt
Equ
ityFu
nd F
und
Fun
dFu
ndFu
ndFu
ndFu
nd
Accr
ued
Inte
rest
7,83
52,
097
151
41,
376
1,71
1-
-4,
568
5
Cash
and
Bank
bal
ance
44,0
315,
127
13,5
821,
621
543,
750
122,
024
--
-4,
985
Div
iden
d Re
ceiv
able
--
--
1,39
71,
031
--
-39
6
Rece
ivab
les f
or Sa
le o
f Inv
estm
ents
--
--
-10
,315
--
--
Uni
t Col
lect
ion
A/c
--
--
--
--
--
Oth
er C
urre
nt A
sset
s (Fo
r Inv
estm
ents
) :-
--
--
--
--
-
Appl
icat
ion
Mon
ey-
--
--
--
--
-
Tota
l51
,866
7,22
413
,733
1,62
554
6,52
313
5,08
1-
-4,
568
5,38
6
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
85
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
3 : C
URR
ENT
ASSE
TSAs
at 3
1st M
arch
200
7
Part
icul
ars
Prem
ier
Prem
ier
Prem
ier
Pure
Pure
Secu
reSt
able
Tota
lEq
uity
Gai
nIn
com
eN
ifty
Equi
tySt
ock
Fund
Fund
Fund
Fun
d In
dex
Fund
Fun
d F
und
Accr
ued
Inte
rest
2,67
81,
776
139
--
101
5,90
517
2,80
1
Cash
and
Ban
k bal
ance
945
3,81
034
,921
25,7
5310
,600
32-
4,22
7,17
3
Div
iden
d Re
ceiv
able
903
-24
048
714
9-
2335
,721
Rece
ivab
les f
or Sa
le o
f Inv
estm
ents
9,59
5-
--
--
-27
9,25
5
Uni
t Col
lect
ion
A/c
--
--
--
--
Oth
er C
urre
nt A
sset
s (Fo
r Inv
estm
ents
) :-
--
--
--
-
Appl
icat
ion
Mon
ey-
--
6,71
22,
148
--
74,9
55
Tota
l14
,121
5,58
635
,300
32,9
5212
,897
133
5,92
84,
789,
905
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
86
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
4 : C
URR
ENT
LIAB
ILIT
IES
As a
t 31st
Mar
ch 2
007
Part
icul
ars
Acc M
id C
apAc
c Mid
Cap
Acce
lera
ted
Bala
nce
Bala
nce
Plus
Bala
nced
Bala
ncer
Bala
ncer
Bond
Capi
tal
Fund
Pen
sion
Fun
d F
und
Pen
sion
Plu
s F
und
Pens
ion
Pens
ion
Guar
ante
e F
und
Fun
d F
und
Fund
Fund
Fund
201
2
Paya
ble
for p
urch
ase
of In
vest
men
ts21
,444
579
14-
--
--
-47
Oth
er C
urre
nt Li
abili
ties:
839
6-
--
--
26
Uni
t Pay
able
A/c
--
--
--
--
--
Tota
l21
,527
588
20-
--
--
253
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
4 : C
URR
ENT
LIAB
ILIT
IES
As a
t 31st
Mar
ch 2
007
Part
icul
ars
Capi
tal
Capi
tal
Cash
Plu
sD
ebt P
lus
Equi
tyEq
uity
Guar
ante
e G
uara
ntee
Cash
Cash
Plu
s P
ensi
onD
ebt
Deb
t Plu
s P
ensio
nGr
owth
Mid
cap
Plus
Fund
201
4Fu
nd 2
017
Fund
Fund
Fund
Fund
Fun
dFu
nd F
und
Fund
Paya
ble
for p
urch
ase
of In
vest
men
ts16
15-
--
--
-14
4,73
115
,785
Oth
er C
urre
nt Li
abili
ties:
-3
198
223
3024
289
241,
086
335
Uni
t Pay
able
A/c
--
--
--
--
--
Tota
l16
1819
822
330
242
8924
145,
817
16,1
20
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
4 : C
URR
ENT
LIAB
ILIT
IES
As a
t 31st
Mar
ch 2
007
Part
icul
ars
Equi
tyEq
uity
Mid
cap
Equi
ty G
ain
Equi
tyEq
uity
Gro
wth
Equi
ty In
dex
Equi
ty In
dex
Equi
ty P
lus
Equi
ty P
lus
Equi
ty In
dex
Mid
cap
Pen
sion
Fund
Fund
Pen
sion
Fun
d P
ensio
nFu
nd P
ensi
on P
ensi
onFu
nd F
und
Fund
Fund
Fun
dFu
nd-2
Paya
ble
for p
urch
ase
of In
vest
men
ts8,
644
1,06
530
,865
93,0
239,
497
42,5
244,
422
54,9
793,
642
11,8
31
Oth
er C
urre
nt Li
abili
ties:
294
361,
568
852
7433
,483
411,
782
144
14
Uni
t Pay
able
A/c
--
--
--
--
--
Tota
l8,
938
1,10
132
,433
93,8
759,
571
76,0
074,
463
56,7
613,
786
11,8
45
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
87
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
4 : C
URR
ENT
LIAB
ILIT
IES
As a
t 31st
Mar
ch 2
007
Part
icul
ars
Inco
me
Life
Lon
gLi
quid
Liqu
idN
ifty
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Bond
Gai
n F
und
Pen
sion
Inde
x E
quity
Gro
wth
Bal
ance
d B
alan
cer
Deb
t E
quity
Fun
dFu
nd F
und
Fun
d F
und
Fun
d F
und
Fun
dFu
nd
Paya
ble
for p
urch
ase
of In
vest
men
ts-
--
-99
,695
8,98
9-
--
5,12
3
Oth
er C
urre
nt Li
abili
ties:
3036
71
216
251
--
3,83
712
2
Uni
t Pay
able
A/c
--
--
--
--
--
Tota
l30
367
199
,911
9,24
0-
-3,
837
5,24
5
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
4 : C
URR
ENT
LIAB
ILIT
IES
As a
t 31st
Mar
ch 2
007
Part
icul
ars
Prem
ier
Prem
ier
Prem
ier
Pure
Pure
Secu
reSt
able
Tota
lEq
. Gai
nIn
com
eN
ifty I
ndex
Eq.
Stoc
k F
und
Fund
Fund
Fun
d F
und
Fun
d F
und
Paya
ble
for p
urch
ase
of In
vest
men
ts7,
301
-15
,175
1,57
351
22
2858
1,52
1
Oth
er C
urre
nt Li
abili
ties:
200
2478
6617
152
446
,035
Uni
t Pay
able
A/c
--
--
--
--
Tota
l7,
501
2415
,253
1,63
952
93
552
627,
556
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
88
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
5 : O
THER
EXP
ENSE
SFo
r the
yea
r end
ed 3
1st M
arch
200
7
Part
icul
ars
Capi
tal
Capi
tal
Cash
Plu
sD
ebt P
lus
Equi
tyEq
uity
Guar
ante
e G
uara
ntee
Cash
Cash
Plu
sPe
nsio
nD
ebt
Deb
t Plu
s P
ensio
nGr
owth
Mid
cap
Plus
Fund
201
4Fu
nd 2
017
Fund
Fun
d F
und
Fun
d F
und
Fun
dFu
ndFu
nd
Polic
y Adm
inis
trat
ion
Char
ge*
--
--
--
--
--
Surr
ende
r Cha
rge*
--
--
--
--
--
Switc
hing
Cha
rge*
--
--
--
--
--
Mor
talit
y Cha
rge*
--
--
--
--
--
Ride
r Pre
miu
m C
harg
e*-
--
--
--
--
-
Part
ial W
ithdr
awal
Cha
rge*
--
--
--
--
--
Misc
ella
neou
s Cha
rge*
--
115
274
6034
127
54-
316
Tota
l-
-11
527
460
3412
754
-31
6
*Cha
rges
reco
vere
d b
y can
cella
tion
of u
nits
are
not
ava
ilabl
e at
fund
leve
l.
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
5 : O
THER
EXP
ENSE
SFo
r the
yea
r end
ed 3
1st M
arch
200
7
Part
icul
ars
Acc M
id C
apAc
c Mid
Cap
Acce
lera
ted
Bala
nce
Bala
nce
Bala
nced
Bala
ncer
Bala
ncer
Bond
Capi
tal
Fund
Pen
sion
Fun
d F
und
Plu
s Pen
sion
Plu
s Fun
d F
und
Pen
sion
Pen
sion
Guar
ante
e F
und
Fun
dFu
nd F
und
Fund
201
2
Polic
y Adm
inis
trat
ion
Char
ge*
--
--
--
--
--
Surr
ende
r Cha
rge*
--
--
--
--
--
Switc
hing
Cha
rge*
--
--
--
--
--
Mor
talit
y Cha
rge*
--
--
--
--
--
Ride
r Pre
miu
m C
harg
e*-
--
--
--
--
-
Part
ial W
ithdr
awal
Cha
rge*
--
--
--
--
--
Misc
ella
neou
s Cha
rge*
--
--
--
--
--
Tota
l-
--
--
--
--
-
*Cha
rges
reco
vere
d b
y can
cella
tion
of u
nits
are
not
ava
ilabl
e at
fund
leve
l.
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
89
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
5 : O
THER
EXP
ENSE
SFo
r the
yea
r end
ed 3
1st M
arch
200
7
Part
icul
ars
Equi
tyM
idca
pEq
uity
Mid
cap
Equi
ty G
ain
Equi
tyEq
uity
Gro
wth
Equi
ty In
dex
Equi
ty In
dex
Equi
ty P
lus
Equi
ty P
lus
Equi
ty In
dex
Fund
Pen
sion
Fund
Fund
Pen
sion
Fund
Pen
sion
Fund
Pen
sion
Pen
sion
Fun
d F
und
Fun
d F
und
Fund
-2
Polic
y Ad
min
istr
atio
n Ch
arge
*-
--
--
--
--
-
Surr
ende
r Cha
rge*
--
--
--
--
--
Switc
hing
Cha
rge*
--
--
--
--
--
Mor
talit
y Cha
rge*
--
--
--
--
--
Ride
r Pre
miu
m C
harg
e*-
--
--
--
--
-
Part
ial W
ithdr
awal
Cha
rge*
--
--
--
--
--
Mis
cella
neou
s Cha
rge*
3063
838
471
-33
257
2,01
913
4-
Tota
l30
6383
847
1-
332
572,
019
134
-
*Cha
rges
reco
vere
d b
y can
cella
tion
of u
nits
are
not
ava
ilabl
e at
fund
leve
l.
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
5 : O
THER
EXP
ENSE
SFo
r the
yea
r end
ed 3
1st M
arch
200
7
Part
icul
ars
Inco
me
Life
Lon
gLi
quid
Liqu
idN
ifty
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Bond
Gai
n Fu
ndFu
ndPe
nsio
nIn
dex
Equi
ty G
row
thBa
lanc
edBa
lanc
erD
ebt
Equi
tyFu
nd F
und
Fun
d F
und
Fun
d F
und
Fun
d F
und
Polic
y Adm
inis
trat
ion
Char
ge*
--
--
--
--
--
Surr
ende
r Cha
rge*
--
--
--
--
--
Switc
hing
Cha
rge*
--
--
--
--
--
Mor
talit
y Cha
rge*
--
--
--
--
--
Ride
r Pre
miu
m C
harg
e*-
--
--
--
--
-
Part
ial W
ithdr
awal
Cha
rge*
--
--
--
--
--
Misc
ella
neou
s Cha
rge*
-50
--
--
--
6567
Tota
l-
50-
--
--
-65
67
*Cha
rges
reco
vere
d b
y can
cella
tion
of u
nits
are
not
ava
ilabl
e at
fund
leve
l.
(Am
ount
in R
s. ‘0
00)
(Am
ount
in R
s. ‘0
00)
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
90
Sche
dule
s to
Fund
Rev
enue
Acc
ount
A
ppen
dix
II Ref
er S
ched
ule
16 N
ote
24
SCH
EDU
LE F
5 : O
THER
EXP
ENSE
SFo
r the
yea
r end
ed 3
1st M
arch
200
7
Part
icul
ars
Prem
ier
Prem
ier
Prem
ier
Pure
Pure
Secu
reSt
able
Tota
lEq
. Gai
nIn
com
eN
ifty I
ndex
Eq.
Stoc
k F
und
Fun
dFu
nd F
und
Fun
d F
und
Fun
d
Polic
y Adm
inis
trat
ion
Char
ge*
--
--
--
--
Surr
ende
r Cha
rge*
--
--
--
--
Switc
hing
Cha
rge*
--
--
--
--
Mor
talit
y Cha
rge*
--
--
--
--
Ride
r Pre
miu
m C
harg
e*-
--
--
--
-
Part
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Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
91
Schedules forming part of financial statements for year ended 31st March 2008
Appendix III refer Schedule 16 Note 24
Disclosure for Unit Linked Business as per Unit Linked Disclosure Norms:
1. Performance of Fund: Refer Enclosure “A”
I. Investment Management
i) Activities outsourced: Fund Accounting.
ii) Fees paid for various activities charged to Policyholders’ account: Refer Enclosure “B”.
iii) Basis of Payment of Fees: Refer Enclosure “B”.
II. Related party transactions
i) During the year no brokerage, custodial fees and any other payments and receipts made to/from related parties (Previous year: NIL).
ii) Company wise details of investments held in the promoter group along with its percentage to funds under management: As on 31st March08 no investments is held in the promoter group (Previous year NIL)
III. Industry wise Disclosure of Investment Refer Enclosure “C”.
IV. Unclaimed redemption of Units: As on 31st March 08 there is no unclaimed redemption of units.
V. Highest, Lowest and Closing NAV at the end of the year: Refer Enclosure “D”.
VI. Expenses Charged to Fund (percentage basis) :
i) Annualized expense ratio to average daily assets of the Fund: Refer Enclosure “E”
VII. Ratio of Gross income to average daily net assets: Refer Enclosure “F”
VIII. There are no doubtful debts on assets as on 31st March 08.
IX. Disclosure of appreciation and/or depreciation in value of investments: Refer Enclosure “G”
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
92
Appendix III refer Schedule 16 Note 24
Enclosure A : Performance of Fund (Absolute Growth %)
Fund Names Date of Current Year SinceInception 2007-08 (%) 2006-07 (%) 2005-06(%) Inception (%)
Acc Mid Cap Fund 24-Jul-06 23.31 22.39 NA 50.92
Acc Mid Cap Pension Fund 24-Jul-06 27.58 18.99 NA 51.81
Accelerated Fund 18-Nov-04 19.43 6.78 8.95 45.71
Asset Allocation Fund 28-Sep-07 0.04 NA NA 0.04
Asset Allocation Pension Fund 28-Jan-08 -3.44 NA NA -3.44
Balanced Fund 15-Jan-04 15.44 7.56 28.46 59.37
Balanced Plus Fund 23-Jul-04 15.63 8.36 27.13 78.36
Balanced Plus Pension Fund 18-Nov-04 16.30 9.10 28.09 68.78
Balancer Fund 24-Jul-06 NA 11.99 NA NA
Balancer Pension Fund 24-Jul-06 NA 11.34 NA NA
Bond Fund 10-Jul-06 9.54 4.15 NA 14.09
Bond Pension Fund 24-Jul-06 10.55 4.46 NA 15.48
Capital Guarantee Fund- 2012 11-Jan-07 9.90 -0.66 NA 9.90
Capital Guarantee Fund- 2014 11-Jan-07 12.88 -10.39 NA 10.62
Capital Guarantee Fund- 2017 11-Jan-07 13.76 -2.20 NA 13.30
Cash Fund 15-Jan-04 8.63 5.39 3.68 21.82
Cash Plus Fund 23-Jul-04 10.19 6.99 5.26 28.14
Cash Plus Pension Fund 18-Nov-04 10.87 7.18 5.08 27.39
Debt Fund 15-Jan-04 8.77 3.60 2.50 15.11
Debt Plus Fund 23-Jul-04 10.21 5.06 3.85 20.58
Debt Plus Pension Fund 18-Nov-04 10.40 5.61 3.59 23.95
Equity Fund 15-Jan-04 21.85 11.67 65.82 122.51
Equity Gain Fund 23-Jul-04 12.89 4.95 70.84 175.97
Equity Growth Fund 24-Jul-06 14.34 18.45 NA 35.44
Equity Growth Pension Fund 24-Jul-06 12.20 18.66 NA 33.14
Equity Index Fund 23-Jul-04 23.62 12.47 64.90 182.30
Equity Index Fund - II 24-Jul-06 22.93 23.87 NA 52.27
Equity Index Pension Fund 18-Nov-04 23.21 13.08 66.74 148.26
Equity Index Pension Fund - II 24-Jul-06 22.82 21.58 NA 49.33
Equity Midcap Fund 9-Mar-05 15.31 4.20 74.56 111.74
Equity Midcap Pension Fund 9-Mar-05 21.96 6.80 78.83 137.10
Equity Midcap Plus Fund 9-Mar-05 18.45 5.11 76.80 123.72
Equity Plus Fund 23-Jul-04 12.97 6.11 70.32 184.45
Equity Plus Pension Fund 18-Nov-04 13.51 7.08 73.82 150.65
Group Debt Fund 26-Mar-08 0.00 NA NA NA
Life Long Gain Fund 23-Jul-04 8.49 4.30 2.01 7.41
Liquid Fund 10-Jul-06 9.97 5.15 NA 15.63
Liquid Pension Fund 24-Jul-06 9.96 4.84 NA 15.28
Premier Balanced Fund 17-Dec-05 13.99 7.25 8.76 32.97
Premier Balancer Fund 24-Jul-06 NA 10.60 NA 0.00
Premier Bond Fund 21-Jul-06 7.94 2.79 NA 10.95
Premier Debt Fund 17-Dec-05 8.43 4.11 1.45 14.52
Premier Equity Fund 17-Dec-05 21.99 11.34 20.20 63.26
Premier Equity Gain Fund 17-Dec-05 9.14 5.20 26.63 45.39
Premier Equity Growth Fund 24-Jul-06 9.42 20.51 NA 31.86
Premier Equity Index Fund 24-Jul-06 21.24 22.42 NA 48.42
Pure Equity Fund 17-Dec-05 19.38 -0.38 22.79 46.03
Pure Stock Fund 21-Jul-06 24.49 13.66 NA 41.50
Secure Fund 15-Oct-04 16.47 6.31 3.05 30.92
Stable Fund 15-Sep-04 14.25 4.46 4.69 30.53
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
93
Appendix III refer Schedule 16 Note 24
Enclosure B : Fees Charged to Policyholders’ Account(Amt. in Rs. ‘000)
Particulars F.Y. 2007-08 F.Y. 2006-07Fund Fund Misc. Policy Switching Mortality Rider Fund Fund Misc.
Manage- Admini- Charges Admin Charge Charge Premium Manage- Admini- Chargesment stration Charge Charge ment stration
Expenses Expenses Expenses ExpensesAcc Mid Cap Fund 24,749 - 182 86,755 2 74,532 12,684 2,676 - -Acc Mid Cap Pension Fund 2,285 - 15 897 1 9 1 462 - -Accelerated Fund 853 - - - - - - 456 - -Asset Allocation Fund 23,419 - - 186,999 - 59,044 4,475 - - -Asset Allocation Pension Fund 186 - - - - 255 17 - - -Balanced Fund - - - - - - - - - -Balanced Plus Fund - - - - - - - - - -Balanced Plus Pension Fund - - - - - - - - - -Balancer Fund - - - - - - - - - -Balancer Pension Fund - - - - - - - - - -Bond Fund 7,317 - 87 64,016 32 48,713 22,490 1,169 - -Bond Pension Fund 638 - 8 879 12 2 - 107 - -Capital Guarantee Fund-2012 1,334 - 13 1,602 - 1,298 - 84 - -Capital Guarantee Fund-2014 95 - 1 104 - 101 - 6 - -Capital Guarantee Fund-2017 654 - 6 759 - 551 - 50 - -Cash Fund 9,971 12,533 555 - 318 15,940 6,741 8,200 10,250 115Cash Plus Fund 13,086 - 957 4,263 2,035 11,172 1,750 14,410 - 274Cash Plus Pension Fund 1,091 - 200 712 110 348 42 820 - 60Debt Fund 12,076 15,182 673 - 107 14,418 3,986 10,136 12,670 34Debt Plus Fund 10,242 - 770 6,799 983 12,827 2,066 6,414 - 127Debt Plus Pension Fund 849 - 221 962 194 545 86 671 - 54Equity Fund 48,255 60,602 2,606 - 88 38,890 11,847 30,346 37,932 472Equity Gain Fund 129,715 108,475 4,726 - 444 70,879 18,467 71,368 59,476 838Equity Growth Fund 297,704 - 2,273 978,013 16 754,681 134,903 35,261 - -Equity Growth Pension Fund 17,734 - 140 10,648 6 77 5 3,179 - -Equity Index Fund 23,282 - 1,224 13,995 609 17,992 3,414 15,709 - 333Equity Index Fund-II 83,775 - 739 500,668 21 320,266 56,164 6,315 - -Equity Index Pension Fund 1,962 - 246 1,069 41 482 125 1,316 - 57Equity Index Pension Fund-II 5,930 - 49 7,119 5 190 11 508 - -Equity Midcap Fund 19,453 16,274 728 - 25 13,296 3,907 12,872 10,726 30Equity Midcap Pension Fund 2,342 - 235 668 2 172 28 1,699 - 63Equity Midcap Plus Fund 33,334 - 1,162 7,134 94 12,790 3,178 26,354 - 316Equity Plus Fund 212,979 - 7,496 33,746 3,227 73,627 18,235 144,106 - 2,019Equity Plus Pension Fund 15,276 - 492 5,077 226 1,322 281 12,219 - 134Group Debt Fund 21 - - - - - - - - -Life Long Gain Fund 1,379 1,723 220 - - 1,878 - 748 935 50Liquid Fund 1,956 - 23 16,568 6 13,055 5,888 235 - -Liquid Pension Fund 233 - 3 1,224 - 1 - 44 - -Premier Balanced Fund - - - - - - - - - -Premier Balancer Fund - - - - - - - - - -Premier Bond Fund 4,926 - 22 1,283 11 878 - 1,232 - -Premier Debt Fund 5,624 - 319 4,378 16 727 - 5,239 - 65Premier Equity Fund 13,458 - 307 10,175 12 1,921 - 11,159 - 67Premier Equity Gain Fund 22,115 - 532 16,485 5 3,526 - 19,192 - 67Premier Equity Growth Fund 47,783 - 293 12,584 8 8,151 - 12,391 - -Premier Equity Index Fund 17,970 - 100 4,627 4 2,748 - 3,676 - -Pure Equity Fund 8,387 - 279 36,235 - 16,507 2,049 4,414 - 67Pure Stock Fund 5,482 - 30 107,254 - 41,830 8,177 855 - -Secure Fund 300 - - - - - - 72 - -Stable Fund 6,675 - - - - - - 1,479 - 67Total 1,136,895 214,789 27,932 2,123,697 8,660 1,635,641 321,017 467,649 131,989 5,309
Basis of Payment of FeesFund Managemenent Charges % of NAVFund Adminstration Charges % of Nav/Fixed AmountMisc. Charges % of Asset Under ManagementPolicy Admin Charge Charges applicable p.a.Switching Charge Expense per switchMortality Charge As per mortality tableRider Premium Charge As per rider charges in the policy documents
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
94
Appendix III refer Schedule 16 Note 24
Enclosure C: Summary Of Industry Wise Disclosure Of InvestmentsIndustry F.Y.2007-08 F.Y.2006-07
Amt in Rs. ‘000 Exposure (%) Amt in Rs. ‘000 Exposure (%)
Banking Service Industry - Fixed Deposit 1,699,800 1.66 1,681,000 3.52
Banking Service Industry - Other than Fixed Deposits 17,140,807 16.70 8,567,601 17.96
Computer Software Industry 7,404,976 7.21 5,407,527 11.34
Others 76,420,357 74.43 32,049,923 67.18
Total 102,665,940 100.00 47,706,051 100.00
Fundwise Industrywise Disclosure of InvestmentsPortolio Name F.Y.2007-08 F.Y.2006-07
Banking Services Computer Software Others Banking Services Computer Software Others Industry Industry Industry Industry
Amt. in Exposure Amt. in Exposure Amt. in Exposure Amt. in Exposure Amt. in Exposure Amt. in ExposureRs. ‘000 (%) Rs. ‘000 (%) Rs. ‘000 (%) Rs. ‘000 (%) Rs. ‘000 (%) Rs. ‘000 (%)
Acc Mid Cap Fund 551,818 2.93 98,562 1.33 1,690,941 2.21 84,733 0.83 78,607 1.45 435,893 1.36
Acc Mid Cap Pension Fund 45,427 0.24 8,626 0.12 142,534 0.19 5,890 0.06 8,631 0.16 50,417 0.16
Accelerated Fund 24,555 0.13 2,639 0.04 36,838 0.05 32,125 0.31 3,210 0.06 29,392 0.09
Asset Allocation Fund 1,529,470 8.12 448,363 6.05 6,909,806 9.04 - - - - - -
Asset Allocation Pension Fund 35,962 0.19 12,468 0.17 151,817 0.2 - - - - - -
Bond Fund 424,551 2.25 - - 659,099 0.86 204,076 1.99 - - 170,772 0.53
Bond Pension Fund 42,391 0.22 - - 49,767 0.07 17,826 0.17 - - 8,367 0.03
Capital Guarantee Fund 2012 3,220 0.02 2,781 0.04 108,921 0.14 1,110 0.01 2,271 0.04 57,989 0.18
Capital Guarantee Fund 2014 413 - 235 - 7,478 0.01 102 - 206 - 3,802 0.01
Capital Guarantee Fund 2017 2,148 0.01 2,317 0.03 49,542 0.06 1,073 0.01 2,195 0.04 30,485 0.10
Cash Fund 866,788 4.6 - - 90,180 0.12 809,139 7.90 - - 90,091 0.28
Cash Plus Fund 1,608,112 8.54 - - 103,371 0.14 1,465,592 14.31 - - 190,032 0.59
Cash Plus Pension Fund 96,920 0.51 - - 10,467 0.01 119,349 1.16 - - 3,432 0.01
Debt Fund 372,015 1.97 - - 775,063 1.01 412,506 4.02 - - 692,404 2.16
Debt Plus Fund 579,312 3.07 - - 988,415 1.29 372,676 3.64 - - 592,401 1.85
Debt Plus Pension Fund 57,746 0.31 - - 76,814 0.1 21,306 0.21 - - 83,654 0.26
Equity Fund 424,393 2.25 440,848 5.95 3,841,713 5.03 403,402 3.94 710,485 13.14 2,655,802 8.29
Equity Gain Fund 1,036,647 5.5 786,134 10.62 7,079,538 9.26 982,145 9.58 670,553 12.40 4,323,080 13.49
Equity Growth Fund 5,102,943 27.08 1,804,407 24.37 17,600,352 23.04 1,339,451 13.07 858,238 15.87 5,594,983 17.44
Equity Growth Pension Fund 247,758 1.32 116,687 1.58 987,028 1.29 91,378 0.89 58,198 1.08 377,939 1.18
Equity Index Fund 224,645 1.19 230,164 3.11 2,006,215 2.64 212,442 2.07 357,136 6.60 1,320,943 4.12
Equity Index Fund - II 1,476,620 7.84 1,278,853 17.27 11,155,952 14.6 291,884 2.85 407,141 7.53 1,556,338 4.86
Equity Index Pension Fund 17,673 0.09 18,339 0.25 159,810 0.21 18,826 0.18 30,291 0.56 111,989 0.35
Equity Index Pension Fund - II 127,169 0.67 103,333 1.4 900,483 1.18 24,046 0.23 26,336 0.49 97,607 0.30
Equity Midcap Fund 298,869 1.59 59,344 0.8 971,814 1.27 165,906 1.62 132,047 2.44 695,062 2.17
Equity Midcap Pension Fund 31,253 0.17 7,913 0.11 103,010 0.13 19,270 0.19 15,689 0.29 83,159 0.26
Equity Midcap Plus Fund 489,209 2.6 113,456 1.53 1,531,015 2 228,670 2.23 236,631 4.38 1,313,236 4.10
Equity Plus Fund 1,300,673 6.90 1,286,238 17.36 11,464,970 15 1,669,975 16.29 1,222,437 22.61 8,013,618 25.00
Equity Plus Pension Fund 157,895 0.85 86,929 1.17 722,159 0.94 147,325 1.44 97,890 1.81 627,554 1.96
Life Long Gain Fund 48,386 0.26 - - 119,313 0.16 52,235 0.51 - - 51,146 0.16
Liquid Fund 294,665 1.56 - - 13,786 0.02 90,322 0.88 - - 3,736 0.01
Liquid Pension Fund 21,772 0.12 - - 3,121 - 9,763 0.10 - - 59 -
Premier Bond Fund 84,410 0.45 - - 84,851 0.11 56,761 0.55 - - 47,549 0.15
Premier Debt Fund 71,068 0.38 - - 122,290 0.16 109,369 1.07 - - 104,694 0.33
Premier Equity Fund 48,244 0.26 50,821 0.69 442,699 0.58 55,362 0.54 105,125 1.94 388,652 1.21
Premier Equity Gain Fund 94,405 0.5 76,427 1.03 666,577 0.88 183,268 1.79 108,110 2.00 669,610 2.09
Premier Equity Growth Fund 260,461 1.38 135,696 1.83 1,515,806 1.98 214,089 2.09 125,253 2.32 783,895 2.45
Premier Equity Index Fund 89,782 0.48 87,376 1.18 763,879 1 46,708 0.46 67,871 1.26 251,647 0.79
Pure Equity Fund - - 62,475 0.84 566,940 0.74 - - 57,814 1.07 302,199 0.94
Pure Stock Fund - - 66,311 0.9 557,452 0.73 - - 18,655 0.34 96,936 0.30
Secure Fund 30,594 0.16 1,315 0.02 141,270 0.18 3,136 0.03 102 - 2,935 0.01
Stable Fund 620,225 3.29 15,919 0.21 1,047,261 1.37 285,365 2.78 6,405 0.12 136,424 0.43
Total 18,840,607 100.00 7,404,976 100.00 76,420,357 100.00 10,248,601 100.00 5,407,527 100 32,049,923 100.00
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
95
Instrument F.Y. 2007-08 F.Y. 2006-07
Amt in Rs. ‘000 (%) Amt in Rs. ‘000 (%)
10% Punjab National Bank - 13-Mar-2009 FD 100,000 0.53 - -
10% Saraswat Bank - 06-May-2008 FD 50,000 0.27 50,000 0.49
10.10% PNB 12 March 2009 300,000 1.59 - -
10.10% SBI Upper Tier II 12 SEP 2022 Call 12 SEP 2017 312,641 1.66 - -
10.20% Syndicate Bank - 17-Mar-2009 FD 150,000 0.80 - -
10.25% HDFC Bank Ltd - 08-Jul-2008 FD 49,900 0.26 - -
10.5% Saraswat Bank - 24-Mar-2010 FD 50,000 0.27 - -
10.50% HDFC Bank Ltd - 03-Jul-2008 FD 49,900 0.26 - -
10.50% Saraswat Bank 24 March 2010 50,000 0.27 - -
10.95% ICICI Bank Ltd - 03-Mar-2008 FD - - 251,000 2.45
11% IDBI - 12-May-2008 - - 50,053 0.49
11.11% State Bank of Hyderabad - 03-Mar-2008 FD - - 100,000 0.98
11.15% YES Bank - 10-Jun-2008 FD 100,000 0.53 - -
11.25% Canara Bank - 03-Mar-2009 FD 100,000 0.53 100,000 0.98
11.25% ICICI Bank Ltd - 13-Mar-2009 FD 100,000 0.53 100,000 0.98
11.25% Syndicate Bank - 17-Mar-2008 FD - - 50,000 0.49
11.30% Syndicate Bank - 24-Mar-2009 FD 50,000 0.27 50,000 0.49
11.30% Canara Bank - 13-Mar-2009 FD 150,000 0.80 150,000 1.46
11.30% Canara Bank - 14-Mar-2008 FD - - 100,000 0.98
11.30% Syndicate Bank - 24-Mar-2009 FD (29/03/07) 200,000 1.06 200,000 1.95
11.5% Punjab National Bank - 21-Mar-2008 FD - - 200,000 1.95
6.00% IDBI OMNI Bonds M - 16/01/2009 48,713 0.26 46,514 0.45
8.25% ICICI Bank Ltd - 13-Aug-2007 FD - - 100,000 0.98
8.90% ICICI Bank Ltd - 12-Apr-2007 FD - - 100,000 0.98
8.96% Syndicate Bank - 28-Dec-2007 FD - - 80,000 0.78
8.96% Syndicate Bank - 29-Dec-2007 FD - - 50,000 0.49
9.30% Bank of Baroda - U Tier II 28-Dec-2022 C 28-Dec-2017 148,225 0.79 - -
9.30% State Bank of Patiala Upper Tier II 20 Dec 2022 Call 20 Dec 2017 49,410 0.26 - -
9.35% PNB Upper Tier II 12 Dec 2022 Call 12 Dec 2017 99,441 0.53 - -
9.35% Punjab National Bank - 05-Mar-2023 05-Mar-2018 C 49,751 0.26 - -
9.85% Canara Bank - 28-Mar-2009 FD 200,000 1.06 - -
9.90% State Bank of Patiala Upper Tier II 28 SEP 2022 Call 28 SEP 2017 51,255 0.27 - -
9.98% ICICI Bank perpetual call 13 Sept 2016 50,574 0.27 - -
Allahabad Bank CD 03 Mar 09 137,412 0.73 - -
Allahabad Bank CD 12 March 2008 - - 227,215 2.22
Allahabad Bank CD 22 Feb 2008 - - 45,756 0.45
Allahabad Bank CD 27 Feb 2009 229,672 1.22 - -
Allahabad Bank CD- 31-Oct-2007 - - 143,287 1.40
Allahabad Bank CD 19 Sept 2007 - - 48,175 0.47
AXIS Bank CD 01 Oct 2008 239,519 1.27 - -
AXIS Bank CD 19 Feb 2009 275,846 1.46 - -
AXIS Bank CD 24 Nov 08 235,898 1.25 - -
AXIS Bank CD - 09-May-2008 49,596 0.26 - -
Canara Bank CD 04 Feb 2009 92,969 0.49 - -
Canara Bank CD 07 Oct 2008 143,640 0.76 - -
Canara Bank CD 28 Feb 2008 - - 501,481 4.89
Citi Bank CD 7 July 2008 244,794 1.30 - -
Corporation Bank CD 12 Feb 09 138,590 0.74 - -
Corporation Bank CD 20 May 08 345,688 1.83 - -
Federal Bank Ltd - 29-Jun-2007 - - 98,041 0.96
HDFC Bank CD 15 June 2007 - - 49,213 0.48
HDFC Bank CD 28 June 2007 - - 147,138 1.44
Appendix III refer Schedule 16 Note 24
Banking Services - Exposure details - Scrip Wise
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
96
HDFC Bank Ltd 389,586 2.07 141,884 1.38
HSBC CD 11 July 2007 - - 146,788 1.43
ICICI Bank CD 03 Jan 2008 - - 93,474 0.91
ICICI Bank CD 10 Mar 09 456,463 2.42 - -
ICICI Bank CD 21 May 2007 - - 98,876 0.96
ICICI Bank CD 27 Aug 08 241,063 1.28 - -
ICICI Bank CD 27 Feb 2009 458,620 2.43 - -
ICICI Bank CD 29 June 2007 - - 196,148 1.91
ICICI Bank CD 31 Jul 2007 - - 97,428 0.95
ICICI Bank CD 6 March 2008 - - 136,016 1.33
ICICI Bank Ltd 2,229,417 11.83 900,510 8.76
ICICI Bank Ltd - 04-Apr-2007 - - 49,957 0.49
ICICI Bank Ltd CD - 22-Jun-2007 - - 98,251 0.96
ICICI Bank Ltd. CD 20 Feb 2008 - - 228,521 2.23
IDBI Bank CD 05 March 2008 - - 136,427 1.33
IDBI Bank CD 12 Mar 09 228,039 1.21 - -
IDBI Bank CD 13 Nov 2007 - - 95,232 0.93
IDBI Bank CD 19 May 08 98,747 0.52 - -
IDBI Ltd 302,940 1.61 - -
Indian Bank CD - 09-Apr-2007 - - 99,807 0.97
Indian Bank CD 05 Jun 07 - - 98,580 0.96
Indian Bank CD 20 Jul 2007 - - 48,852 0.48
Indian Bank CD 4 April 08 199,829 1.06 - -
ING Vysya Bank CD 06 Apr 2007 - - 49,936 0.49
ING Vysya Bank Ltd 355,080 1.88 75,663 0.74
Kotak Bank CD 4 July 2008 244,480 1.30 - -
Kothak Mahindra Bank CD - 10-Jul-2007 - - 97,815 0.95
Kothak Mahindra Bank CD- 19-Jun-2007 - - 98,288 0.96
Kotak Mahindra Bank CD 30 May 2008 147,750 0.78 - -
Kotak Mahindra Bank CD 31 Jul 2007 - - 97,446 0.95
Oriental Bank of Commerce 172,679 0.92 22,112 0.22
Oriental Bank of Commerce CD 15 Sep 08 239,251 1.27 - -
Oriental Bank of Commerce CD 24 Dec 08 93,741 0.50 - -
PNB CD 12 Jan 2009 233,600 1.24 - -
PNB CD 28 June 2007 - - 97,859 0.95
Punjab National Bank 787,690 4.18 636,222 6.21
Punjab National Bank-CD - 24-Feb-2009 367,820 1.95 - -
SBBJ CD 20 Jan 2009 233,521 1.24 - -
State Bank Mysore CD 19 March 2008 - - 453,006 4.42
State Bank of Bikaner & Jaipur - 11-Jun-2007 - - 98,404 0.96
State Bank of Bikaner and Jaipur CD 04 Dec 08 141,458 0.75 - -
State Bank of Bikaner and Jaipur CD 13 June 08 245,762 1.30 - -
State Bank of Hyderabad- CD 07 Jun 2007 - - 49,214 0.48
State Bank of Hyderabad CD 12 June 2008 246,017 1.31 - -
State Bank of Hyderabad CD 28 May 08 197,064 1.05 - -
State Bank of Hyderabad CD 30 June 2008 243,890 1.29 - -
State Bank of India 1,981,609 10.52 917,072 8.95
State Bank of India CD- 14-May-2007 - - 49,541 0.48
State Bank of India CD 29 May 2008 888,309 4.71 - -
State Bank of Indore CD - 14-May-2007 - - 49,557 0.48
State Bank of Indore CD 12 May 2008 99,065 0.53 - -
State Bank of Indore CD 30 Apr 2007 - - 49,656 0.48
Appendix III refer Schedule 16 Note 24
Banking Services - Exposure details - Scrip Wise
Instrument F.Y. 2007-08 F.Y. 2006-07
Amt in Rs. ‘000 (%) Amt in Rs. ‘000 (%)
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
97
State Bank of Mysore CD 01 Sep 08 240,061 1.27 - -
State Bank of Mysore CD 10 Feb 2009 369,947 1.96 - -
State Bank of Mysore CD 11 June 08 245,895 1.31 - -
State Bank of Patiala - 29-Nov-2007 - - 47,445 0.46
State Bank of Patiala -CD 06 Sep 07 - - 48,365 0.47
State Bank of Patiala CD 10 March 2009 228,822 1.21 - -
State Bank of Patiala CD 28 Oct 08 95,181 0.51 - -
State Bank of Patiala CD 29 Aug 2008 240,904 1.28 - -
State Bank of Travancore CD- 07-Jan-2008 - - 93,395 0.91
State Bank of Saurashtra - 21-Jun-2007 - - 98,281 0.96
UCO Bank CD 07 Feb 2008 - - 230,781 2.25
UCO Bank CD 20 Nov 08 141,843 0.75 - -
UCO Bank CD 21 Apr 2007 - - 49,779 0.49
UCO Bank CD 26 March 2009 136,816 0.73 - -
UCO Bank CD 29 June 2007 - - 49,047 0.48
UCOBank CD - 12-Jul-2007 - - 244,555 2.39
Union Bank 30 May 2008 246,263 1.31 - -
Union Bank CD 18 July 2008 244,280 1.30 - -
Union Bank CD 20 March 2008 - - 452,868 4.42
Union Bank CD 23 Oct 2008 238,991 1.27 - -
Union Bank CD 24 June 2008 244,680 1.30 - -
UTI Bank CD 23 Aug 2007 - - 48,211 0.47
UTI Bank CD 28 Aug 2007 - - 145,289 1.42
UTI Bank Ltd CD 15-Jun-2007 - - 98,418 0.96
Yes Bank CD 12 Oct 2007 - - 47,992 0.47
Yes Bank CD - 30-Oct-2007 - - 47,760 0.47
Grand Total 18,840,607 100.00 10,248,601 100.00
Computer Software Industry - Exposure details - Scrip WiseInstrument F.Y. 2007-08 F.Y. 2006-07
Amt in Rs. ‘000 (%) Amt in Rs. ‘000 (%)
ALLIED DIGITAL SERVICES LTD 37,999 0.51 - 0.00
AZTEC SOFTWARE - - 45,143 0.83
HCL TECHNOLOGIES LTD 140,342 1.90 89,219 1.65
INFOSYS TECHNOLOGIES LTD 2,336,303 31.55 1,500,563 27.76
INFOTECH ENTERPRISES LTD - - 26,573 0.49
MASTEK LTD 377,302 5.10 92,923 1.72
MPHASIS BFL LIMITED 582,332 7.86 823,201 15.22
NIIT TECHNOLOGIES LIMITED - - 92,188 1.70
ONMOBILE GLOBAL LIMITED 6,707 0.09 - 0.00
SATYAM COMPUTER SERVICES LTD 1,310,511 17.70 866,937 16.03
TATA CONSULTANCY SERVICES LTD 1,554,074 20.99 1,340,287 24.79
TULIP IT SERVICES LIMITED 75,960 1.03 61,599 1.14
WIPRO LTD 983,448 13.28 468,894 8.67
Grand Total 7,404,976 100.00 5,407,527 100.00
Appendix III refer Schedule 16 Note 24
Banking Services - Exposure details - Scrip Wise
Instrument F.Y. 2007-08 F.Y. 2006-07
Amt in Rs. ‘000 (%) Amt in Rs. ‘000 (%)
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
98
Appendix III refer Schedule 16 Note 24
Enclosure D : Highest, Lowest and Closing NAV for the year 2007-08
F.Y.2007-08 F.Y.2006-07
Fund Names Closing NAV Lowest NAV Highest NAV Closing NAV Lowest NAV Highest NAV31-Mar-08 (Rs.) (Rs.) (Rs.) 31-Mar-07 (Rs.) (Rs.) (Rs.)
Acc Mid Cap Fund 15.092 12.308 19.420 12.238 10.000 13.580
Acc Mid Cap Pension Fund 15.181 11.946 19.217 11.898 10.000 13.237
Accelerated Fund 14.571 12.200 16.694 12.171 10.689 12.685
Asset Allocation Fund 10.004 9.714 11.331 NA NA NA
Asset Allocation Pension Fund 9.656 9.311 10.112 NA NA NA
Balanced Fund 15.937 13.832 18.851 13.806 11.408 14.536
Balanced Plus Fund 17.836 15.460 20.964 15.425 12.825 16.166
Balanced Plus Pension Fund 16.878 14.548 19.733 14.512 11.970 15.206
Balancer Fund NA 11.231 11.675 11.198 9.933 11.665
Balancer Pension Fund NA 11.160 11.603 11.133 10.000 11.554
Bond Fund 11.409 10.449 11.458 10.414 10.000 10.414
Bond Pension Fund 11.548 10.475 11.548 10.446 10.000 10.446
Capital Guarantee Fund- 2012 10.990 9.999 11.920 9.986 9.837 10.102
Capital Guarantee Fund- 2014 11.062 9.796 12.123 9.778 9.635 10.115
Capital Guarantee Fund- 2017 11.330 9.963 12.973 9.952 9.732 10.116
Cash Fund 12.182 11.247 12.182 11.215 10.654 11.215
Cash Plus Fund 12.814 11.668 12.814 11.628 10.888 11.628
Cash Plus Pension Fund 12.739 11.529 12.739 11.490 10.738 11.490
Debt Fund 11.511 10.617 11.540 10.583 10.247 10.616
Debt Plus Fund 12.058 10.982 12.058 10.940 10.448 10.944
Debt Plus Pension Fund 12.395 11.270 12.414 11.227 10.668 11.227
Equity Fund 22.251 18.271 29.747 18.262 12.608 20.110
Equity Gain Fund 27.597 24.562 36.915 24.447 17.242 27.138
Equity Growth Fund 13.544 11.904 18.135 11.845 9.564 13.039
Equity Growth Pension Fund 13.314 11.924 18.509 11.865 10.000 13.403
Equity Index Fund 28.230 22.848 37.578 22.835 15.649 25.099
Equity Index Fund - II 15.227 12.416 20.320 12.387 9.788 13.629
Equity Index Pension Fund 24.826 20.169 33.109 20.148 13.798 22.151
Equity Index Pension Fund - II 14.933 12.180 19.917 12.157 10.000 13.384
Equity Midcap Fund 21.174 18.430 28.182 18.362 13.522 20.486
Equity Midcap Pension Fund 23.710 19.523 29.914 19.440 13.977 21.662
Equity Midcap Plus Fund 22.372 18.967 29.307 18.886 13.518 21.064
Equity Plus Fund 28.445 25.309 38.523 25.178 17.454 27.916
Equity Plus Pension Fund 25.065 22.195 33.741 22.082 15.303 24.489
Group Debt Fund 10.000 10.000 10.017 NA NA NA
Life Long Gain Fund 10.741 9.931 10.778 9.901 9.517 9.901
Liquid Fund 11.563 10.546 11.563 10.514 10.000 10.514
Liquid Pension Fund 11.528 10.515 11.528 10.483 10.000 10.483
Premier Balance Fund 13.297 11.685 15.446 11.664 9.882 12.179
Premier Balancer Fund NA 11.080 11.508 11.060 10.000 11.529
Premier Bond Fund 11.095 10.308 11.163 10.279 10.000 10.279
Premier Debt Fund 11.452 10.594 11.518 10.562 10.158 10.562
Premier Equity Fund 16.326 13.384 21.762 13.383 9.238 14.742
Premier Equity Gain Fund 14.539 13.385 21.744 13.320 9.332 14.787
Premier Equity Growth Fund 13.186 12.105 18.330 12.050 10.000 13.359
Premier Equity Index Fund 14.842 12.247 19.853 12.241 10.000 13.492
Pure Equity Fund 14.603 12.179 17.925 12.231 9.445 13.589
Pure Stock Fund 14.150 11.317 17.106 11.366 10.000 12.625
Secure Fund 13.092 11.241 13.239 11.206 10.562 11.206
Stable Fund 13.053 11.425 14.504 11.387 10.839 11.635
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
99
Fund Names Expense Ratio (%)
F.Y.2007-08 F.Y.2006-07
Acc Mid Cap Fund 1.76 1.75
Acc Mid Cap Pension Fund 1.76 1.75
Accelerated Fund 1.20 1.20
Asset Allocation Fund 1.24 NA
Asset Allocation Pension Fund 1.25 NA
Bond Fund 0.96 0.95
Bond Pension Fund 0.96 0.95
Capital Guarantee Fund- 2012 1.25 1.25
Capital Guarantee Fund- 2014 1.28 1.25
Capital Guarantee Fund- 2017 1.25 1.25
Cash Fund 2.31 2.26
Cash Plus Fund 0.75 0.71
Cash Plus Pension Fund 0.83 0.75
Debt Fund 2.31 2.25
Debt Plus Fund 0.75 0.71
Debt Plus Pension Fund 0.88 0.76
Equity Fund 2.31 2.27
Equity Gain Fund 2.81 2.77
Equity Growth Fund 1.76 1.75
Equity Growth Pension Fund 1.76 1.75
Equity Index Fund 1.05 1.02
Equity Index Fund - II 1.26 1.25
Equity Index Pension Fund 1.13 1.04
Equity Index Pension Fund - II 1.26 1.25
Equity Midcap Fund 2.81 2.75
Equity Midcap Pension Fund 1.65 1.56
Equity Midcap Plus Fund 1.55 1.52
Equity Plus Fund 1.55 1.52
Equity Plus Pension Fund 1.55 1.52
Group Debt Fund 1.00 NA
Life Long Gain Fund 2.42 2.32
Liqiud Pension Fund 0.96 0.95
Liquid Fund 0.96 0.95
Premier Bond Fund 2.77 2.75
Premier Debt Fund 2.38 2.28
Premier Equity Fund 2.30 2.26
Premier Equity Gain Fund 2.31 2.26
Premier Equity Growth Fund 2.77 2.75
Premier Equity Index Fund 2.77 2.75
Pure Equity Fund 1.55 1.52
Pure Stock Fund 1.76 1.75
Secure Fund 1.20 1.20
Stable Fund 1.20 1.25
Note: The above percenatage of charges exclude charges deducted by wayof cancellation of units
Appendix III refer Schedule 16 Note 24
Enclosure E : Annualised Expense Ratio to AverageDaily Assets of the Fund
Fund Names Income Ratio (%)
F.Y.2007-08 F.Y.2006-07
Acc Mid Cap Fund 11.01 7.00
Acc Mid Cap Pension Fund 16.41 15.32
Accelerated Fund 19.72 8.45
Asset Allocation Fund -22.55 NA
Asset Allocation Pension Fund -9.69 NA
Bond Fund 9.68 7.88
Bond Pension Fund 11.33 7.70
Capital Guarantee Fund- 2012 9.70 6.84
Capital Guarantee Fund- 2014 11.88 5.80
Capital Guarantee Fund- 2017 12.87 6.63
Cash Fund 10.60 7.54
Cash Plus Fund 10.34 7.67
Cash Plus Pension Fund 11.30 7.68
Debt Fund 10.80 6.05
Debt Plus Fund 10.69 6.20
Debt Plus Pension Fund 10.54 6.69
Equity Fund 20.30 13.78
Equity Gain Fund 11.16 14.40
Equity Growth Fund 2.86 0.85
Equity Growth Pension Fund 0.90 1.26
Equity Index Fund 18.59 12.30
Equity Index Fund II -3.93 2.59
Equity Index Pension Fund 19.73 13.77
Equity Index Pension Fund II -11.79 9.34
Equity Midcap Fund 14.65 22.57
Equity Midcap Pension Fund 19.59 24.50
Equity Midcap Plus Fund 17.49 22.49
Equity Plus Fund 10.84 13.43
Equity Plus Pension Fund 13.24 13.49
Group Debt Fund 1.00 NA
Life Long Gain Fund 10.23 7.16
Liquid Fund 10.38 8.36
Liquid Pension Fund 10.43 8.02
Premier Bond Fund 10.54 7.71
Premier Debt Fund 10.86 7.29
Premier Equity Gain Fund 12.72 8.71
Premier Equity Fund 22.10 14.26
Premier Equity Growth Fund 5.99 8.49
Premier Equity Index Fund 9.09 11.24
Pure Equity Fund 16.62 7.45
Pure Stock Fund 6.38 9.12
Secure Fund 1.61 7.81
Stable Fund 9.55 7.19
Appendix III refer Schedule 16 Note 24
Enclosure F : Ratio of Gross Income toAverage Daily Assets of the Fund
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
100
Appe
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Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
101
Appe
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Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
102
Appe
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III r
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Sch
edul
e 16
Not
e 23
Encl
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Cash
Plu
sG
ain
Fund
Mid
Cap
Mid
Cap
Pens
ion
Gua
rant
ee G
uara
ntee
Gua
rant
eeFu
ndPl
usPe
nsio
nFu
ndPe
nsio
n Fu
nd F
und
Fun
d 20
12 F
und
2014
Fun
d 20
17 F
und
Fun
d
Gov
ernm
ent B
onds
--
--
(120
)-
(15)
--
-Co
rpor
ate
Bond
s(2
12)
192
(91)
(47)
(77)
-(2
9)(1
)-
Infr
astr
uctu
re B
onds
(89)
--
--
-(1
78)
(1)
(5)
-Eq
uity
1,25
9(1
4,82
7)(1
,873
)-
(313
)(2
8)(2
55)
--
-M
oney
Mar
ket
--
--
--
--
--
Mut
ual F
und
--
--
--
--
--
Tota
l (A)
958
(14,
808)
(1,8
71)
(91)
(480
)(1
05)
(448
)(3
0)(6
)-
Corp
orat
e Bo
nds
--
--
--
--
--
Infr
astr
uctu
re B
onds
--
--
--
--
--
Equi
ty80
7(1
,445
)(1
4)-
72
32-
--
Mut
ual F
und
--
--
--
--
--
Tota
l(B)
807
(1,4
45)
(14)
-7
232
--
-
Tota
l (A+
B)1,
765
(16,
253)
(1,8
85)
(91)
(473
)(1
03)
(416
)(3
0)(6
)-
Not
e: T
he ab
ove
appr
ecia
tion/
depr
ecia
tion
is th
e di
ffere
nce
betw
een
mar
ket v
alue
and
book
cost
of t
he in
vest
men
t as a
t 31st
Mar
ch 2
007.
Encl
osur
e - G
: Fu
ndw
ise
and
Clas
swis
e Ap
prec
iatio
n/(D
epre
ciat
ion)
in v
alue
of i
nves
tmen
ts(A
mt.
in R
s. ‘0
00)
Part
icul
ars
Deb
t Fun
dD
ebt P
lus
Deb
t Plu
sEq
uity
Equi
tyEq
uity
Equi
ty G
row
thEq
uity
Equi
ty In
dex
Equi
ty In
dex
Fun
d P
ensio
nFu
ndG
ain
Grow
th P
ensi
onIn
dex
Pen
sion
Pen
sion
Fun
d F
und
Fun
d F
und
Fun
d F
und
Fund
- 2
Gov
ernm
ent B
onds
(725
)(2
15)
--
-(1
36)
--
--
Corp
orat
e Bo
nds
(12,
755)
(13,
341)
(863
)28
396
(104
)22
2-
-In
fras
truc
ture
Bon
ds(1
6,47
6)(9
,449
)(5
94)
149
3-
--
-Eq
uity
--
-75
2,56
130
8,43
0(1
18,7
70)
(5,7
45)
187,
821
19,9
21(3
11)
Mon
ey M
arke
t-
--
--
--
--
-M
utua
l Fun
d-
--
--
--
--
-
Tota
l (A)
(29,
956)
(23,
005)
(1,4
57)
752,
590
308,
875
(119
,007
)(5
,723
)18
7,82
319
,921
(311
)
Corp
orat
e Bo
nds
(197
)(3
12)
(124
)-
--
--
--
Infr
astr
uctu
re B
onds
--
--
--
--
--
Equi
ty-
--
232,
402
241,
793
57,4
896,
811
95,8
908,
152
2,64
5M
utua
l Fun
d-
--
--
--
--
-
Tota
l(B)
(197
)(3
12)
(124
)23
2,40
224
1,79
357
,489
6,81
195
,890
8,15
22,
645
Tota
l (A+
B)(3
0,15
3)(2
3,31
7)(1
,581
)98
4,99
255
0,66
8(6
1,51
8)1,
088
283,
713
28,0
732,
334
Not
e: T
he ab
ove
appr
ecia
tion/
depr
ecia
tion
is th
e di
ffere
nce
betw
een
mar
ket v
alue
and
book
cost
of t
he in
vest
men
t as a
t 31st
Mar
ch 2
007.
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
103
Encl
osur
e - G
: Fu
ndw
ise
and
Clas
swis
e Ap
prec
iatio
n/(D
epre
ciat
ion)
in v
alue
of i
nves
tmen
ts(A
mt.
in R
s. ‘0
00)
Part
icul
ars
Equi
tyEq
uity
Equi
tyEq
uity
Equi
ty P
lus
Inco
me
Life
Lon
gLi
quid
Liqu
idN
ifty
Mid
Cap
Mid
Cap
Mid
Cap
Plu
s P
lus
Pens
ion
Fund
Gai
nFu
ndPe
nsio
n In
dex
Fund
Plu
s Fun
d P
ensi
on F
und
Fund
Fun
d F
und
Fun
dFu
nd
Gov
ernm
ent B
onds
--
-(6
7)-
--
--
-Co
rpor
ate
Bond
s1
(13)
-54
968
(2,3
42)
(908
)-
-20
Infr
astr
uctu
re B
onds
(12)
7-
989
(1,1
15)
(611
)-
--
Equi
ty40
,144
75,8
683,
181
510,
475
36,0
23-
--
-(4
1,30
3)M
oney
Mar
ket
--
--
--
--
--
Mut
ual F
und
--
--
--
--
--
Tota
l (A)
40,1
3375
,862
3,18
151
1,05
536
,100
(3,4
57)
(1,5
19)
--
(41,
283)
Corp
orat
e Bo
nds
--
--
--
--
--
Infr
astr
uctu
re B
onds
--
--
--
--
--
Equi
ty18
,804
38,1
612,
051
429,
914
33,4
63-
--
-27
,036
Mut
ual F
und
--
--
--
--
--
Tota
l(B)
18,8
0438
,161
2,05
142
9,91
433
,463
--
--
27,0
36
Tota
l (A+
B)58
,937
114,
023
5,23
294
0,96
969
,563
(3,4
57)
(1,5
19)
--
(14,
247)
Not
e: T
he ab
ove
appr
ecia
tion/
depr
ecia
tion
is th
e di
ffere
nce
betw
een
mar
ket v
alue
and
book
cost
of t
he in
vest
men
t as a
t 31st
Mar
ch 2
007.
Encl
osur
e - G
: Fu
ndw
ise
and
Clas
swis
e Ap
prec
iatio
n/(D
epre
ciat
ion)
in v
alue
of i
nves
tmen
ts(A
mt.
in R
s. ‘0
00)
Part
icul
ars
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Prem
ier
Pure
Pure
Secu
reSt
able
Tota
lD
ebt
Equi
tyEq
uity
Gai
nEq
uity
Gro
wth
Inco
me
Nift
y Ind
exEq
uity
Stoc
kFu
nd F
und
Fund
Fun
d F
und
Fun
d F
und
Fun
d F
und
Fun
d
Gov
ernm
ent B
onds
--
35-
--
--
--
(1,2
43)
Corp
orat
e Bo
nds
(1,8
07)
-(1
)13
(618
)1
--
(50)
(1,1
66)
(33,
304)
Infr
astr
uctu
re B
onds
(1,1
09)
--
-(2
46)
--
-(2
7)(2
35)
-Eq
uity
-40
,844
14,5
26(3
,800
)-
1,23
37,
754
(1,7
34)
1894
9(2
9,98
0)M
oney
Mar
ket
--
--
--
--
--
1,81
2,04
8M
utua
l Fun
d-
--
--
--
--
--
Tota
l (A)
(2,9
16)
40,8
4414
,560
(3,7
87)
(864
)1,
234
7,75
4(1
,734
)(5
9)(4
52)
1,74
7,52
1
Corp
orat
e Bo
nds
--
--
--
--
-30
(603
)In
fras
truc
ture
Bon
ds-
--
--
--
--
--
Equi
ty-
29,3
2428
,538
20,8
31-
9,53
0(5
,713
)(1
,640
)4
840
1,27
5,71
5M
utua
l Fun
d-
--
--
--
--
--
Tota
l(B)
-29
,324
28,5
3820
,831
-9,
530
(5,7
13)
(1,6
40)
487
01,
275,
112
Tota
l (A+
B)(2
,916
)70
,168
43,0
9817
,044
(864
)10
,764
2,04
1(3
,374
)(5
5)41
83,
022,
633
Not
e: T
he ab
ove
appr
ecia
tion/
depr
ecia
tion
is th
e di
ffere
nce
betw
een
mar
ket v
alue
and
book
cost
of t
he in
vest
men
t as a
t 31st
Mar
ch 2
007.
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
104
Cash Flow Statement for the year ended 31st March 2008(Amount in Rs. ‘000)
Particulars Current Year Previous Year
Cash Flow from Operating Activities
Receipts from customers
- Premium Income 97,167,145 52,965,721
- Premium & Other Deposits 247,202 588,493
97,414,347 53,554,214
Other Income
Interest on overdue premium 29,879 17,930
Unit linked fund administration / management charges 3,475,382 952,087
Others 87,763 34,308
3,593,024 1,004,325
Cash generated from operations 101,007,371 54,558,539
Cash paid towards Operating Activities
Commission (15,057,592) (8,328,257)
Claims (8,408,714) (6,958,837)
Other Expenses (19,795,497) (10,515,387)
Direct Taxes Paid (100,075) (76,261)
Change in Working Capital 1,329,449 2,661,253
(42,032,429) (23,217,489)
Cash flow before extraordinary item 58,974,942 31,341,050
Extraordinary Item - -
Net cash from Operating Activities ( A ) 58,974,942 31,341,050
Cash Flow from Investing Activities
Purchase of Fixed Assets (781,566) (319,404)
Purchase of Investments (159,729,950) (83,123,594)
(160,511,516) (83,442,998)
Interest & Dividend Received 4,019,655 628,682
Sale of Investment 91,644,486 50,927,847
Sale of Fixed Assets 2,067 -
95,666,208 51,556,529
Net cash from investing activities ( B ) (64,845,308) (31,886,469)
Cash Flow from Financing activities
Proceeds from Issuance of Share Capital 3,410 1,342
Share Premium received on issuance of Share Capital 5,097,950 2,006,290
5,101,360 2,007,632
Net cash from Financing Activities ( C ) 5,101,360 2,007,632
Net (decrease) / increase in Cash & Cash Equivalents (D = A + B + C ) (769,006) 1,462,213
Cash & Cash equivalents at the beginning of the Year 4,144,377 2,682,164
Cash & Cash Equivalents at the end of the Year 3,375,371 4,144,377
Components of cash & cash equivalents
Cash and Bank Balances ( as per Sch 11) 3,785,262 4,198,042
Temporary overdraft (as per Sch 13 ) (409,891) (53,665)
3,375,371 4,144,377
As per our report of even date attachedFor Kirtane & Pandit For S R Batliboi & Co. For Bajaj Allianz Life Insurance Company LimitedChartered Accountants Chartered AccountantsSuhas Deshpande Hemal Shah Rahul Bajaj Kamesh Goyal Ranjit GuptaPartner Partner Chairman Alternate Director and DirectorMembership No. 31787 Membership No. 42650 Chief Executive Officer
Rajesh Viswanathan Anil Singh Sameer BakshiChief Financial Officer Appointed Actuary Company Secretary
Place : Pune Place : Mumbai Place : PuneDate : 12th May 2008 Date : 12th May 2008 Date : 12th May 2008
Bajaj Allianz Life Insurance Company Limited
Annual Report 2007-2008
105
Balance sheet abstract and Company’s general business profile
I. Registration Details
Registration No. State Code15959 25
Balance Sheet Date 31 03 2008
Date Month Year
II. Capital raised during the year (Amount in Rs. ’000)
Public Issue Rights Issue- -
Bonus Issue Private Placement- 3,410
III. Position of mobilisation and deployment of funds (Amount in Rs. ’000)
Total Liabilities Total Assets136,286,786 136,286,786
IV Source of Funds (Amount in Rs. ’000)
Paid-up Capital Reserves and Surplus (Shareholders)1,507,090 10,599,550
Secured Loans Unsecured Loans- -
Policyholders’ funds Others124,180,044 102
V Application of Funds (Amount in Rs. ’000)
Net Fixed Assets Investments1,090,680 135,687,520
Net Current Assets Miscellaneous Expenditure(5,421,383) -
Accumulated loss (Shareholders) Others4,899,032 30,937
VI. Performance of Company (Amount in Rs. ’000)
Turnover Total Expenditure- -
Profit/Loss before tax Profit/Loss after tax(2,138,825) (2,138,905)
Accumulated Profits-
Earnings per share Dividend rate (%)(14.22) -
Note: Being a life insurance company there is no turnover.
Bajaj Allianz Life Insurance Company Limited
IRDA Registration No. 116 dated 3rd August, 2001
106
VII. Generic Names of Principal Products/Services of Company
Item code no (ITC code) -
Product description Life Insurance Business
Note:
The Company being a life insurance company, the accounts of the Company are not required to be made in accordance with Schedule VI. Further,the Insurance Act, 1938, requires the accounts of the Company to be split between Policyholders’ and Shareholders’ Account. In view of this, it is notpossible to give all the information as required in Part III & Part IV of the Schedule.
For Bajaj Allianz Life Insurance Company Limited
Rahul Bajaj Kamesh Goyal Ranjit GuptaChairman Alternate Director & Chief Executive Officer Director
Rajesh Viswanathan Anil Singh Sameer BakshiChief Financial Officer Appointed Actuary Company Secretary
Place : PuneDate : 12th May 2008