FINANCIAL STATEMENT OF INSURANCE COMPANY :

The Financial statements of Insurance Company are prepared in accordance with the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002.

According to the Regulations, an insurer carrying on life insurance business is to comply with the requirements of Schedule A of the above said regulations and an insurer carrying on general insurance business is to comply with the requirements of Schedule B of the above said regulations. It is also Provided that this sub-regulation shall apply, mutatis mutandis, to reinsurers, until separate regulations are not made. The report of the auditors on the financial statements of every insurer and reinsurer shall be in conformity with the requirements of Schedule C, or as near thereto as the circumstances permit.