Annual Report | 2015 -16 - TATA AIA LIFEtataaia.com/pdf/public-disclosures/corporate-disclosure/Annual... · companies in closing the Protection Gap in the country. ... Sixteenth

3Annual Report | 2015 -16Annual Report | 2015 -16

BOARD OF DIRECTORS

COMPLIANCE OFFICER

STATUTORY AUDITORS

REGISTERED OFFICE ADDRESS

REGISTRARS AND SHARE TRANSFER AGENTS

Mr. Ishaat Hussain (Chairman)

Mr. Madhusudan Kannan

Mr. Kishor Chaukar

Mr. Simeon Preston

Mr. William Lisle

Mr. Janki Ballabh

Mr. Pratip Kar

Mr. D K Mehrotra

Ms. Roopa Kudva

Mr. Naveen Tahilyani (Managing Director & CEO)

M/s. N M Raiji & Co.

M/s. Walker Chandiok & Co LLP

14TH FLOOR, TOWER A,PENINSULA BUSINESS PARK SENAPATI BAPAT MARG LOWER PAREL MUMBAI 400 013

Link Intime India Pvt Ltd.C-13, Pannalal Silk Mills Compound, Lal Bahadur Shastri Marg, Subhash Nagar, Bhandup West, Mumbai 400078

S. Swaminathan (Sr. VP- Legal, Compliance & Company Secretary)

Message from the Chairman

Dear Shareholders,I am pleased to share with you the Annual Report for Tata AIA Life for the Financial Year 2015-16.Our strong leadership team, relentless focus on the consumer, exposure to the best global practices from AIA, and the guiding principles of the Tata Group, helped us make substantial progress towards our vision of becoming a pre-eminent player in the Life Insurance space in India.During the course of the year, the shareholders concluded a transaction whereby AIA took a 49% stake in the company, with Tata Sons holding the rest. This is a vote of confidence by both shareholders for the future of the industry and company.There were several highlights during the year, and I would like to enumerate some of them in this letter.OUR CONSUMERSWe are fully focused on ensuring a best-in-class experience for our consumers, and made significant progress in key areas this year.We made significant changes to our internal processes to ensure that we are able to improve the percentage of cases that are processed Straight-Through (STP). In the month of March, the percentage of non-medical cases processed straight-through touched 88%. We worked hard to ensure that our consumers experience a smooth on-boarding process and I was particularly happy that our claims settlement ratio reached 96.8% and our persistency improved to over 76%.Our Net Promoter Score reflects the progress we made in these areas, which is very pleasing.OUR CUSTOMERSWe work with our Individual Agents, Corporate Agents, Brokers and other Distribution Partners as Customers. It is very important to us that they become India’s best trained and best equipped life insurance distribution force.

Mr. Ishaat Hussain

Our multi-channel strategy saw tremendous progress this year, leading us to an overall aggregate Annualized Premium growth of 187% over the previous year, the highest growth rate in the industry.Our Agency business was one of the fastest growing in the industry, and especially pleasing was the improvement in key metrics such as Activation rate and Agent earnings. We equipped our Advisors with Tablets and Smartphones loaded with custom-built apps, and in the space of a year, saw paperless sales jump to nearly 60% from a standing start the year before.We made good progress with our Citibank partnership, particularly in having a more balanced portfolio that fulfilled multiple customer needs.Our new partnership with IndusInd Bank got off to a very swift start, and we are excited by the roadmap that we have with the bank to make this truly India’s best bancassurance partnership.We started a few select relations with high-quality brokers who are aligned with us on the focus on quality and putting the consumer first. Our Direct Sales Force team expanded and I am confident will continue setting productivity benchmarks in this space.We were delighted to welcome the employees of Tata Consultancy Services as our consumers, and look forward to working with them and other Tata group companies in closing the Protection Gap in the country. OUR PEOPLEOur committed and hard working team are our biggest differentiator, and the company is committed to ensuring that we develop and nurture our talent to become the employer of choice in the Life Insurance industry.During the year, we rolled out our Values, which form the guiding principles through which we conduct all our activities.Our Values are • We act with integrity• We value performance• We nurture entrepreneurship• We are market facing• We deliver on our promise.We were delighted that our efforts were recognized by AON Hewitt, which named us a ‘Best Employer’, the only Life Insurance company to be given this accoladeLOOKING FORWARDThe future of Tata AIA Life has never been brighter. With our multi-channel capabilities, investments in smart technology and analytics capabilities, and best in class leadership and people, I am confident that the coming year, and years ahead, will see the company make a mark in the Life insurance space in India.

Sincerely,Ishaat HussainChairmanTata AIA Life Insurance Company Ltd.

BOARD OF DIRECTORS

Sixteenth Annual Report 2015-2016

Contents Pages

Notice 1

Directors’ Report and Annexure 6

Annexure to Directors’ Report

• Corporate Governance Report

• Secretarial Auditor Report

• MGT 9 – Extract of Annual Report

16

22

24

Independent Auditor Report 32

Independent Auditor’s Certificate 37

Management Report 40

Balance Sheet 44

Revenue Account 48

Profit and Loss Account 52

Receipt and Payment Account 56

Schedules 60


1. To receive, consider and adopt the Audited Balance Sheet as at 31st March, 2016 and Profit & Loss Account for the Financial Year ended 31st March, 2016 and the Reports of the Directors and the Auditors thereon.

2. To appoint a Director in place of Mr. Kishor Chaukar, who retires by rotation and, being eligible, offers himself for re-election.

3. To ratify the appointment of M/s. N M Raiji & Co., Chartered Accountants as Joint Auditors of the Company, who shall hold office from the conclusion of 16th Annual General Meeting until the conclusion of the 17th Annual General Meeting of the Company.

“RESOLVED THAT pursuant to the provisions of Section 139 and other applicable provisions of the Companies Act, 2013 and the guidelines issued by Insurance Regulatory and Development Authority of India (IRDAI) regarding appointment of Statutory Auditors, M/s. N M Raiji & Co. (Reg. No: 108296W) who were appointed as Joint Statutory Auditors at the Meeting held on 13th August, 2015, be and is hereby ratified.”

“RESOLVED FURTHER THAT the Board of Directors or Audit Committee thereof, be and is hereby authorised to decide and finalise the terms and conditions of re-appointment, including the remuneration of the Statutory Auditors.

4. To appoint M/s. Kalyaniwalla & Mistry, Chartered Accountants as Joint Auditors of the Company, who shall hold office from the conclusion of 16th Annual General Meeting until the conclusion of 21st Annual General Meeting of the Company subject to ratification by the member at each Annual General Meeting.

“RESOLVED THAT pursuant to the provisions of Section 139 of the Companies Act, 2013 and the guidelines issued by Insurance Regulatory and Development Authority of India (IRDAI) regarding appointment of Statutory Auditors, M/s. Kalyaniwalla & Mistry (Reg. No: 104607W) who were appointed as Joint Statutory Auditors at the Board Meeting held on 3rd May 2016, be and are hereby appointed as the Joint Auditors of the Company for the period of 5 years, subject to ratification of their appointment by the member each year.”

“RESOLVED FURTHER THAT the Board of Directors or Audit Committee thereof, be and is hereby authorised to decide and finalise the terms and conditions of re-appointment, including the remuneration of the Statutory Auditors.

5. To consider and, if thought fit, to pass the following resolution with or without modification(s) as a Special Resolution:

“RESOLVED THAT pursuant to Circular No. F&A/CIR/011/MAR-04 dated 23rd March, 2004 issued by the Insurance Regulatory and Development Authority of India the sum of ` 757,257,000/- (Rupees Seventy five Crore seventy two lakhs fifty seven thousand only) (Previous year 1,263,799,000/- (Rupees One Hundred Twenty Six Crore thirty seven lakhs ninety nine thousand only) be and is hereby transferred from Shareholders’ Account (Non Technical Account) to Policyholders’ Account (Technical Account).”

6. To Consider and, if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution

“RESOLVED THAT Mr. William Lisle who was appointed as an Additional Director by the Board of Directors with effect from August 13, 2015 in respect of whom the Company has received a notice from the member as per Section 160 of the Companies Act, 2013, in writing, proposing his candidature for the office of Director, who holds office under Section 161 of the Companies Act, 2013, up to the date of the Annual General Meeting, be and is hereby appointed as a Director of the Company, who shall be subject to retirement by rotation under the Articles of Association of the Company.”

NOTES:

1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE INSTEAD OF HIMSELF AND A PROXY NEED NOT BE A MEMBER.

Proxies, in order to be effective, must be received at the Company’s Registered Office not less than 48 hours before the meeting.

2. The Statement to be annexed to the Notice pursuant to Section 102(1) of the Companies Act, 2013, setting out all material facts relating to Business mentioned at item No 5 to 6 of the Notice, is annexed hereto, and should be considered as part thereof.

3. Corporate Members intending to send their authorised representative(s) to attend the meeting are requested to send to the Company, a certified copy of the Board resolution authorising such representative(s) to attend and vote on their behalf at the meeting.

4. Proxy shall not vote, except on a Poll.

5. In case of joint holders attending the meeting, only such joint holder who is higher in the order of names will be entitled to vote on a Poll.

ORDINARY BUSINESS SPECIAL BUSINESS

Notice is hereby given that the Sixteenth Annual General Meeting of the Members of Tata AIA Life Insurance Company Limited will be held on Wednesday, 27th July 2016 at 02.00 p.m. in the Board Room of the Registered Office on the 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013.


required for ensuring compliance with the above mentioned circular.

ITEM NO. 6

Pursuant to the provisions of Section 161 of the Companies Act 2013, the Board of Directors of the Company had appointed Mr. William Lisle, as an Additional Director, with effect from August 13, 2015, to hold the office as such till the date of the ensuing Annual General Meeting of the Company.

The Company has received a notice alongwith the deposit of requisite amount under Section 160 of the Companies Act, 2013, from a Member signifying the candidature of Mr. William Lisle, for the office of a Director of the Company. The Company has also received a consent letter from Mr. William Lisle confirming that he is not disqualified from being appointed as a Director in terms of Section 164 of the Companies Act, 2013.

The Board accordingly, recommends the Resolution set out in Item No. 6 of the Notice for approval of the Members.

Except Mr. William Lisle, none of the Director, Manager or Key Managerial Personnel or their relatives is concerned or interested, financially or otherwise, in the proposed resolution.

The Board recommends the resolutions for approval of members as an Ordinary resolution.

All documents referred to in the Notice and the explanatory statement will be available for inspection by the shareholders at the Registered Office of the Company from 9.00 a.m. to 6.00 p.m on all working days from the date hereof up to the date of the meeting.

Registered Office:

14th Floor, Tower- A,Peninsula Business Park,Senapati Bapat Marg, Lower Parel, Mumbai – 400013

Date: 3rd May 2016 By order of the BoardPlace: Mumbai

S. Swaminathan Sr. VP- Legal, Compliance

& Company Secretary

6. All documents referred to in the Notice and the Statement annexed, and requiring Members’ approval, and such statutory records and registers, as are required to be kept for inspection under the Companies Act, 2013, shall be available for inspection by the Members at the Registered Office of the Company during business hours and shall be accessible to the person attending the meeting.

7. The Register of Directors’ and Key Managerial Persons’ Shareholding maintained under Section 170 of the Companies Act, 2013, will be available for inspection by the Members at the time of Annual General Meeting.

8. Member/Proxy, desirous of attending the Meeting, must bring the Attendance Slip (enclosed herewith) to the Meeting duly completed and signed, and hand over the same at the venue entrance.

Date: 3rd May 2016 By order of the BoardPlace: Mumbai

S. Swaminathan Sr. VP- Legal, Compliance

& Company Secretary

Explanatory Statement

STATEMENT TO BE ANNEXED TO THE NOTICE PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013 IN RESPECT OF THE SPECIAL BUSINESS MENTIONED IN THE NOTICE

ITEM NO. 5

The Insurance Regulatory and Development Authority had issued Circular No. F&A/CIR/011/MAR-04 dated 23rd March, 2004 dealing with the “Preparation of financial statements of life insurers”. According to the circular, “the insurer shall make good the accumulated deficit in the Policyholders’ Account and also transfer adequate assets to cover the cost of bonus, prior to declaration of bonus to participating policyholders. Such transfer from the Shareholders Account can be out of Profit and Loss Account balance or reserves in the Shareholders Account and / or by drawing upon the paid-up capital of the insurer”.

As the Company has decided to transfer the sum of ` 757,257,000/- (Rupees Seventy five Crore seventy two lakhs fifty seven thousand only) (Previous year ` 1,263,799,000/- [Rupees One Hundred Twenty Six Crore Thirty Seven Lakhs Ninety Nine Thousand Only] from Shareholders’ Account (Non Technical Account) to Policyholders’ Account (Technical Account), the passing of the above special resolution is


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The Directors have pleasure in presenting the Sixteenth Annual Report and Audited Accounts of the Company for the year ended 31st March 2016.

Given the current low insurance penetration level, wide geographical reach, favourable demographics, and high rate of financial savings, the life insurance industry would continue to be one of the preferred financial instruments for long term savings and protection.

The Company would continue to focus on its strategic priorities identified in the business plan. The core of the plan revolves around strengthening distribution, completing the product bouquet, improving the customer facing processes, building a strong performance culture, using technology as a competitive advantage and continuing to build the brand.

1. Combined Financial Results of Revenue Account (Policyholders’ Account) and Profit and Loss Account (Shareholders’ Account)

Insurance Regulatory and Development Authority (Assets, Liabilities, and Solvency Margin of Insurers)

Capital

The Authorised Share Capital of the Company is ` 2,500 crores. The Equity shareholders as at 31st March 2016 stood at ` 1953.50 crores.

Solvency

The Company has been continuously monitoring its solvency margins and has ensured that at all times it has acted, in keeping with the requirements of the

Particulars

Current Year

(2015-2016)

` in ‘000

Previous Year

(2014-2015)

` in ‘000Premium earned 24,789,602 21,226,580

Premiums earned (net of reinsurance) 24,357,951 21,064,534

Total Investment Income ** 6,938,827 40,124,645

Other income 392,471 421,675

Commission paid 1,494,895 922,788

Operating expenses (related to insurance business) 5,175,012 5,409,375

Benefits paid (net of reinsurance) 28,919,524 33,705,134

Change in valuation of liabilities in respect of Life Policies 13,830,212 11,810,949

Transfer to Linked Fund (20,334,531) 7,033,474

Funds for Future Appropriation -PAR 247,033 (409,114)

Other expenses 1,192,052 35,016

Provision for taxation 528,787 467,039

Profit / Loss for the year 636,265 2,636,193

** Includes profit and loss on sale of investments

Outlook for the industry and the Company

DIRECTORS’ REPORT Regulations, 2000. The Solvency Margin Ratio as at 31st March 2016 was at 348%.

2. Distribution review and outlook

The life insurance industry has begun to recover in FY 16 post impact of economic slowdown and regulatory changes in last few years. FY 16 has been very exciting and enriching for the Company. The Company has registered an aggregate Annualised Premium growth of 187% during FY 16 (highest in the industry).

The Agency channel has seen significant improvement during the year and grew by 52% on WNBP basis and registered case size growth of 22% over FY 15. During the year we launched our new Bancassurance partner IndusInd and further cemented our relationship with Citibank. Bancassurance contributes 49% in FY 16 of Individual ANP as compared to 16% in FY 15.

In order to achieve its goal, the company focused on its strategic themes identified in the beginning of the year. A number of strategic and functional initiatives were taken up to improve business quality, sustainability, efficiency and agility. Some of the key initiatives undertaken during the year were:

Grow Premier Agency: The Company continued focus on Premier Agency development which is based on continuous engagement with distributors along with robust and quality training architecture. The Company would continue to focus on building quality and Premier Agency.

Strengthen multi-channel strategy: As a part of multi-channel distribution strategy the Company strengthened its relationship with Citibank and entered


into the new partnership with IndusInd bank. The Company will continue focus on strengthening the relationship further and increase penetration within the banks’ customers.

Complete Product Suite: During the year the Company launched new products & riders to further bolster our Product Suite. The Company has a suite of products to meet an individual’s needs at different stages of life.

Technology focus: Our success lies in betterment of customers and best in class customer service experience. We have successfully deployed technology in delivering a simplified and efficient sales experience. It has become an integral part of our organisation and provides convenience and empowerment to the customers. In Agency channel paperless submission has reached 54% in the month of March 2016 basis Weighted New Business Premium from virtually 0% in the month of June 2015. Other channels are also in the process of technology embracement in similar manner. The company is committed to enhance extensive use of technology to drive efficiency and better customer experience with transparency.

Rural & Social Sector Obligations

Under the IRDA (Obligations of Insurers to Rural Social Sectors) Regulations, 2000, an insurer is required to meet the prescribed obligations pertaining to rural and social sectors. The Company has covered 77,929 lives in the social sector as against the requirement of 55,000 lives. It has also written individual policies at 26.94% of the Company’s policies in the rural sector as against the regulatory requirement of 20%.

3. Products

The Company offers a range of products across linked and traditional segments. In FY 2015 -16, the Company launched new products and riders across customer and product segments. The Company largely focused on providing the consumer friendly savings and protection solutions.

Products launched in FY 2015-16

Tata AIA Life Insurance Smart 7 (UIN: 110N118V01)

This is a limited premium paying Non-Linked Participating Endowment Assurance Plan. It has a fixed policy term of 12 years and premium payment term of just 7 years. The plan offers lump sum benefit along with Bonuses at Maturity and offers an option to attach riders for enhanced protection. This is a fully underwritten plan.

Tata AIA Life Insurance Accidental Death & Dismemberment (Long Scale) (ADDL) Linked Rider (UIN: 110A027V01)

This is an optional Unit Deducting Rider which offers an amount equal to the rider sum assured in case of accidental death or a percentage of the rider sum assured in case of severe dismemberment or burns due to accident. The benefits will be doubled in

case of certain accidental death. The rider can be attached to the individual linked products of the Company and the minimum rider coverage is for 5 years.

Tata AIA Life Insurance Waiver of Premium (Linked) rider (UIN: 110A026V01)

This is an optional Unit Deducting Rider which ensures insurance benefits continue by waiving all the future premiums of the base plan in case the Life Assured becomes totally and permanently disabled due to accident or sickness. The rider can be attached to the individual linked products of the company and the minimum rider coverage is for 5 years.

Tata AIA Life Insurance Waiver of Premium Plus (Linked) rider (UIN: 110A025V01)

This is an optional Unit Deducting Rider which is designed for the proposer of the base plan who is different from the Life Assured. In case of Total and Permanent disability or death of the Proposer, the future premiums are waived till the premium paying term of the base plan or till the age of Proposer is 65, whichever is earlier. The rider can be attached to the individual linked products of the Company and the minimum rider coverage is for 5 years.

Tata AIA Life Insurance Money Back Plus (UIN: 110N119V01)

This is a Limited premium paying Non-Linked Participating Money Back Assurance Plan which provides Guaranteed Money Back every 4/5/6 years for the policy term of 16/20/24 years respectively with an advantage of paying premiums for just half of the policy term and staying protected throughout the policy term. At maturity, policyholder gets lump sum benefit along with vested Compounded Reversionary Bonuses and Terminal Bonus. Additionally, the plan offers protection through inbuilt Accidental Death Benefit. This is a fully underwritten plan.

Tata AIA Life Insurance Insta Wealth Plan (UIN: 110N117V01)

This is simple Limited premium paying Non-Linked Participating Endowment Assurance Plan which is easy to understand and easy to buy. It provides protection of life without the hassle of going through medical tests. This plan offers policy term of 10/15/20 years with premium paying term of 7/12/15 years respectively. The product offers Guaranteed Additions @ 1% of Basic SA every year from the policy anniversary following the end of premium paying term of the policy till policy term. On maturity, the policyholder gets lump sum benefit i.e. Basic Sum Assured along with the accrued Guaranteed Additions, Vested Compounded Reversionary Bonuses and Terminal Bonus. This plan has no medical or financial underwriting.


Tata AIA Life Insurance Fortune Guarantee (UIN: 110N120V01)

This is a Limited premium paying Non-Linked Non-Participating Endowment Assurance Plan. The plan offers fixed policy term of 10 and premium paying term of 5 years. The Policyholder gets Guaranteed Maturity Benefit which is a percentage of the Total Premiums paid. The plan also offers higher benefits for females and option to attach riders. This is a fully underwritten plan.

Tata AIA Life Insurance Accidental Death & Dismemberment (Long Scale) (ADDL) Rider (UIN: 110B028V01)

This is an optional Premium Paying Rider which offers an amount equal to the Rider Sum Assured in case of accidental death or a percentage of the Rider Sum Assured in case of severe dismemberment or burns due to accident. The benefits will be doubled in case of certain accidental death or dismemberments. The rider can be attached to the individual non linked products of the Company.

Tata AIA Life Insurance InvestOne (UIN: 110L121V01)

This is a Unit Linked Single Premium Plan which offers policy term of 15 to 30 years with a flexibility to choose from 8 different funds and 2 portfolio strategies, besides Guaranteed Maturity Additions and Loyalty Additions to boost the Fund Value at Maturity.

Tata AIA Life Insurance Super Achiever (UIN: 110L122V01)

This is a Unit Linked Child Plan where benefits continue even after the demise of the parent by funding of future premiums by the Company. The plan offers flexibility to choose the policy term of 10 to 20 years with a fixed premium paying term of 10 years. It provides options to choose from 8 different funds and 2 portfolio strategies besides Guaranteed Maturity Additions to boost the Fund Value at Maturity.

Tata AIA Life Insurance Saat Saath (UIN: 110N123V01)

This is a Non-Linked Non-Participating Micro Insurance Endowment Plan designed principally for the weaker sections of the society. This product offers a fixed policy term of 10 years and premium paying term of 7 years. The Policyholder gets Maturity Sum Assured which is a percentage of the Total Premiums paid.

Tata AIA Life Insurance Freedom (UIN: 110N124V01)

This is a Non-Linked Participating Endowment Assurance Plan, primarily designed to fulfil Retirement needs. It provides an opportunity to the Policyholder to decide the age of retirement i.e. 55/60 years and create a corpus for post retirement needs. This plan offers Guaranteed Additions @10% of the Annualised Premium throughout the premium payment term along with Compounded Reversionary Bonuses and Terminal Bonus to enhance retirement corpus. This is a fully underwritten plan.

Tata AIA Life Insurance Monthly Insurance Plan (UIN: 110N125V01)

This is a Non-Linked Participating Endowment Assurance Plan primarily designed for customers looking for simple and affordable savings plan. This product has only monthly premium option which offers savings starting from just ` 2,000 a month. In this plan, the policyholder pays 12 monthly premiums and the Company adds one monthly premium i.e. Guaranteed Yearly Additions at the beginning of each policy year. Besides this, policyholder also gets Compounded Reversionary Bonuses and Terminal Bonus to enhance the lump sum benefit at Maturity. It has a policy term of 15/20 years with premium paying term of 7/10 years respectively. This is a fully underwritten plan.

Tata AIA Life Insurance Smart Income Plus (UIN: 110N126V01)

This is a Non-Linked Non-Participating Endowment Assurance Plan. This plan offers two options under one plan where policyholder can choose between Guaranteed Regular Income and Endowment Benefit. The first option offers Guaranteed Regular Income every year @ 130% to 175% of Annualised Premium starting at the end of policy year 9/12/14 for premium paying terms 7/10/12 years respectively along with lump sum at Maturity and the second option offers lump sum benefits in the last two policy years. It has a policy term of 15/21/25 years with premium paying term of 7/10/12 years respectively. Besides this, there is 11 times life cover and option to enhance protection through riders. This is a fully underwritten plan.

Tata AIA Life Insurance Waiver of Premium Plus rider (UIN:110B029V01)

This is an optional Premium Paying Rider which is designed for the Proposer of the base plan who is different from the Life Assured. In case of Total and Permanent disability or death of the Proposer, the future premiums are waived till the premium paying term of the base plan or till age 65, whichever is earlier. The rider can be attached to the specified individual products of the Company and the minimum rider term is 5 years.

Our product strategy for financial year 16-17 is to create innovative segment specific solutions based on thorough market research which gives value proposition to the customers and shareholders and decent earning opportunity to the distributors.

4. Operations and Systems

During the year the Company took various initiatives to enhance customer engagement, improve levels of customer service, retain customers and to ensure adequate support to business. Some of the initiatives towards this include:

• Claims Settlement Ratio stands at 96.8% (FY16). Introduction of online claims intimation & tracking of claims in TALIC website. Simplified claims process


15 days and HNI – 8 days

• Submission to Issuance TAT @ 85th Percentile (IndusInd) for February 2016:- Non-Med 7 days, Med – 15 days and HNI – 8 days

• Took various initiatives to improve Straight Through Processing (STP%-Non medical). The STP % (Non-Med) of March 2016 for offline submission stands at 88%

• Launched Group Client Portal with various facilities like query module, self service option & download option

• Enhanced the customer portal with additional features like Policy re-instatement, Single Top-up, Nominee change, NEFT update, Online Premium Holiday Extension

• Launched Good Points reward program on portal exclusively designed for the policyholders in Jan’16 through which 2,595 leads were generated.

• Simplified Portal Registration process; Emails and SMS sent to promote Portal usage. Marquee added on portal to flash latest developments and news from the Company.

5. Policies issued and Lives covered

During the year, the Company issued 136,380 Individual policies, covered 62,617 lives through Corporate Pensions, 54,666 lives through Credit Life and 289,439 lives through Group Life.

6. Registration

The Registration Certificate of the Company has been renewed by the Insurance Regulatory and Development Authority of India for FY 2016-2017.

7. Employees and Training Employees

As at 31st March 2016, the Company had 2,729 employees.

The Company has won the AON Best Employer 2016 and the Golden Globe Tiger Awards for the Best HR Company to work for in 2016.

Engagement, Recognition and Communication

• The Aon Hewitt Employee Engagement score has improved to 73% in 2016 which is higher than the Life Insurance Industry score of 65%, BFSI score of 71% and APAC Life Insurance score of 58%

• A series of innovative HR engagement interventions were implemented - Full on Fun series, Year of You and You plus.

• The AON Hewitt score for HR Practices increased to 83% from 79%.

• Multi-way communication initiatives like skip level meetings, coffee with the CEO and HR Reach out sessions across the Company were introduced which resulted in higher employee engagement levels.

for flood victims of Tamilnadu, Pondicherry & Andhra Pradesh. Vernacular claim forms are now available in 11 regional languages. Net Promoter Score [NPS] score introduced in June 2015 and the same is 85.05% in Feb 2016. Claims service guarantee introduced & implemented from 1st Oct 2015 (Claim payments within 8 working days for non-investigated claims, else interest to be paid @ 6% per annum)

• Introduction of IOS (Life Planner) and Android (Good Solutions) based tablet sales solutions for Agency for paperless new business submission. 47% New Business Submission has been submitted through these Apps in March 2016.

• Deployment of Retention Champion has been a success for FY16. The Conservation ratio has been improved from 81.4% in FY14-15 to 85.44% in FY15-16 (YTD Feb 2016). 13 month Persistency ratio improved from 75.9% in FY 14-15 to 76.44% FY 15-16 (YTD Mar 2016). Retained 40% of AUM (YTD Feb 2016) from Surrender Retention Opportunities.

• Launched NACH (National Automated Clearing House) processing through auto debit of bank accounts that is applicable for debiting renewal premium only

• Differential Service experience for IndusInd Bank customers implemented:-

• Dedicated helpdesk for all Operations related queries

• Single point of contact for Operations support

• Special Non Medical limits

• Customised process for free-look & Complaint Management

• Customised process for Pre-Submission calling

• CIBIL profile check to avoid risk

• Dedicated helpdesk for Online business (iRaksha & iTROP)

• Conducted Face to Face service camps for both customers and consumers:

• 6581 consumers participated during the year (FY 16) and ` 2.63 Cr. RYP was collected.

• 497 email ids and 581 contact details were updated

• 1890 NEFT and 127 Auto-pay registrations were done and 1348 consumers were registered on the portal during these camps.

• The number of complaints received during the year reduced by 13% over previous year.

• The average time for resolution of grievances has reduced to 4 days in FY 15-16 compared to 6 days in FY 14-15

• The average service level achievement (regulatory) for resolution of grievances has improved to 99% in FY 15-16 compared to 95% in FY 14-15

• Submission to Issuance TAT @ 85th Percentile (without IndusInd) for February 2016:- Non-Med 2 days, Med –


• V- Connect - Monthly Town hall meetings were conducted by the EXCO through a webcast for the entire organisation.

• The AON Hewitt score for Communication increased to 89% from 74%.

• Celebrate Success, an innovative Rewards and Recognition program was implemented to provide recognition to talent.

Under the diversity initiative, diversity awards were introduced for women employees.

• Atlas, Titan and Hercules awards were introduced for top talent.

• The AON Hewitt score for Recognition increased to 82% from 63%.

Talent Management and Leadership Development

• Launched, “SPEED – Superior Performance Execution Excellence and Delivery”, a unique fast track program for the front line employees from Operations and Support functions. Speed aims to open avenues for development & career progression, transferring ownership to employees and providing them with resources to take responsibility for their own career.

• Assessment process to identify employees with the right potential and who demonstrate the capability to take up high responsibility and move to senior roles.

• Career Management is key to ring fence Talent, the Talent Conclave, an Annual event that provides an opportunity for our Top Talent to hold career conversations with their supervisors paving the path towards achieving their aspirations! The Talent Conclave is widely acknowledged within the Industry as a Best Practice initiative to groom Top Talent.

• The Company conducts the Organization and People Review (OPR) process to identify the readiness and develop the succession pipeline for critical roles. The focus is to actualize the development and career action plans for these set of employees towards building the leadership pipeline for the Organization.

• Mentoring program: The Senior Management members are active mentors and invest significantly in grooming and developing Top Talent for the Organization.

• The Company leverages the multi-rater 360 degree survey to enable constructive feedback for enhancing leadership effectiveness through action planning.

• The AON Hewitt score for Career Opportunities increased to 77% from 65%.

Cultural Transformation

• High performance work culture was driven through a structured Balanced Scorecard for the Organization linked to the individual functional Scorecards of the Senior Management which were further linked to each employee’s goal sheet. Hence, the Company’s overall objectives and goals were translated into individual goals through the Performance Management Process.

• The compensation structure was re-designed to focus on a pay for performance culture.

• Two Metamorphosis Leadership workshops were held for the top 100 leaders to work on the Company’s Vision, Mission, Values, core performance objectives and to chart out a core path for excellence in business.

• The AON score for Managing Performance increased to 90% from 74%.

Recruitment

• Employee Recruitment at TALIC was awarded Best across Tata Group - under category “Promising Best practices”

• Focussed on the workforce plan and hiring execution of the new partnership channel, IndusInd Bank and other channels. 1507 employees were hired in FY 2015 -16.

• Institutionalised the Management Trainee programme for Operations and IT to build a pipeline of talent for these functions.

• 62% of hiring from the total hiring requirement in the Company was done through Direct/referral and Job portals, resulting in a savings in hiring cost of ` 3.93 crores.

• The Company controlled attrition for 2015 -16 to 29% compared to 33% in 2014 -15, while the industry attrition is at 55%. Key talent retention has improved to 93% from 85% in 2014-15.

• Total internal mobility (IJP) along job rotations is 89%.

Training and Capability building

• Strengthened the training function by training all AVP’s with Situational Leadership II trainings, Managers with the AIA Manager Programme & Forward and Beyond program to build managerial competencies and Junior Management with Step Ahead training programs to create a high performance work culture along with other external workshops.

• Imparted various training programmes during the year covering 1591 employees over 182 workshops. The training measurement data shows improvement in desirable behaviours post attending the workshops

• Continued to focus on providing best in class insurance education to all employees through the LOMA, CFP and III programmes.

• E- Learning modules with a Mandatory certification on Anti Money Laundering, Information Security awareness and Code of Conduct was accomplished for all employees.

• 95% of the employees were trained as against the target of 85%.

• The AON Hewitt score for Learning score increased to 81 % from 76%.


16. Governance

The Corporate Governance Report forms an annexure to the Directors Report.

17. Particulars of Contract and arrangement with related Parties

The details of contracts and arrangements with related parties form part of financial statements of the Company.

18. Particulars of Loans, Guarantees and Investments.

During the year there are no Loans or Guarantees given. Details relating to investments are available in the financials of the Company.

19. Internal Financial Control with reference to Financial Statements.

During the year, review was carried out internally by independent teams over the financial processes and except for non-material findings, all other process and financial controls were found to be in order.

20. Directors and Key Managerial Persons

Board of Directors

The Board of Directors provides strong oversight for overall corporate direction and strategy adopted by the Company.

The Board comprises 10 Directors of which 4 are Independent Directors. The Independent Directors are eminent personalities with significant expertise in the fields of strategy, marketing, financial services and life insurance.

The details of Committees of the Board have been set out in the Corporate Governance Report.

Changes in the Board of Directors

In accordance with the requirements under the Companies Act, 2013, Mr. Kishor Chaukar is Director liable to retire by rotation at the ensuing Annual General Meeting and, being eligible, offers himself for re-appointment. During the financial year, 2015-2016, Mr. William Lisle was nominated as a Director on the Board by AIA International Limited and was appointed as the Nominee Director of the Company w.e.f August 13, 2015.

Mr. Manoj Ramachandran was appointed as Alternate Director to Mr. William Lisle w.e.f August 13, 2015.

Details of Directors Resigned/Retired

During the financial year 2015-2016 following Directors resigned/retired:-

Name of Director

Date of Resignation/ Retired

Reason

Mr. Gordon Timmins Watson

13th August 2015

Withdrawal of Nomination by AIA International Ltd.

Performance Management

• The Balanced score card for the Organisation was developed. Scorecards for the MD and EXCO members developed which link to individual goal sheets for the year 2015-16: BSC initiatives planned and actions for each Functional BSC. The midyear performance review has been completed and annual appraisal process for 2015-16 is in progress.

Launched “PERKS” a comprehensive performance management scheme that focuses on performance and progression for the front line Sales managers.

Compliance

• HR compliance is at 98.65% certification

8. Material Changes And Commitment Affecting Financial Position Of The Company

There are no material changes and commitments affecting the financial position of the Company that have occurred between the end of the financial year of the Company to which the financial statements relates and the date of the report

9. Statement on Compliance with Sexual Harassment Act.

The Company has its Sexual Harassment Policy in place and same is available on the website of the Company. During the year 4 complaints were received and resolved.

10. Dividend

The Directors do not recommend any dividend.

11. Change in Nature of Business

There is no change in nature of Business of the Company.

12. Dematerialisation of Shares

During the year the Company submitted its shares under the dematerialised mode with National Securities Depository Limited (NSDL). Out of the total shares, 44,93,05,000 shares held by Tata Sons Limited were dematerialised.

13. Registrar and Transfer Agent

During the year the Company appointed M/s. Link Intime India Pvt. Ltd. as the Registrar and Transfer Agent.

14. Details of Subsidiary Company, Holding Company and Joint Venture

During the year the Company has not incorporated any subsidiary or entered into any Joint Venture. Tata Sons Limited is the holding Company.

15. Significant and material orders passed by Regulators or Courts or Tribunals.

During the year, there were no significant and material orders passed by the Regulators, Courts or Tribunals impacting the going concern status or the Company’s operations in future.


Declaration from Independent Director

The Company has received declarations from Mr. Janki Ballabh, Mr. Pratip Kar, Mr D K Mehrotra and Ms. Roopa Kudva under Section 149(7) of the Act.

Key Managerial Persons

The Company has designated Mr. Swaminathan, Company Secretary, Mr. Vishal Bandlish, Chief Financial Officer Mr. Naveen Tahilyani, Managing Director & CEO as Key Managerial Persons under Companies Act 2013

21. Risk Management

The Board has its Risk and Asset Liability Management Committee in place which meets once in every quarter. Details of the same are mentioned in Corporate Governance Report which is annexed to this report.

22. Extract of Annual Return

The extract of Annual Return as required under Companies Act 2013 forms part of Directors’ report as an annexure in Form MGT-9.

23. Number of Board Meetings during the year

The details relating to number of Board Meetings held during the year is mentioned under the heading “Board Meeting” in the Corporate Governance report which is annexed to this Report.

24. Annual Evaluation of performance of Board

The annual evaluation of performance of the Board as required under the provisions of the Companies Act 2013, has been carried out. The Directors have expressed their satisfaction with the evaluation process.

25. Policy on Corporate Social Responsibility (CSR) and shortfall in contribution if any.

During the year, the Company has voluntarily spent ` 25.90 lacs on CSR activities.

26. Policy of Nomination and Remuneration Committee

The Company has its Board approved Nomination and Remuneration policy in place.

27. Whistle Blower Policy

In order to uphold the highest standards of ethical behaviour the Company encourages its employees to observe the Code of Conduct applicable across the Organization. The Company, through the Whistle Blower Policy, has provided employees a channel for communicating any breaches of the Company’s Values, Code of Conduct, Anti Money Laundering Policy and other Regulatory and Statutory requirements. Action is initiated against any violation of the Values, Code or Policies as per the internal standards.

In order to monitor and ensure effective closure of the grievances received, the Company has put in place software which is available on the Intranet and on Company’s website.

28. Secretarial Audit

The Secretarial Audit was conducted by M/s BNP & Associates, Practising Company Secretaries as required under provisions of the Companies Act 2013. The report of the same is attached as Annexure.

29. Directors’ Responsibility Statement

Pursuant to Section 134(5) of the Companies Act, 2013, with respect to Directors’ responsibility statement, the Directors based on the representations received from the management, hereby confirm that –

a) in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

b) the directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit and loss of the Company for that period;

c) the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) the directors had prepared the annual accounts on a going concern basis;

e) the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

30. Auditors

M/s. Walker, Chandiok & Co and M/s. N M Raiji & Co, Joint Statutory Auditors of the Company hold office until the conclusion of the ensuing Annual General Meeting. The full term of M/s. Walker Chandiok & Co., ends with the conclusion of the ensuing Annual General Meeting. The Board recommends the ratification of appointment of M/s. N M Raiji & Co. as Statutory Auditors for the financial year 16-17 and the Board further recommends the appointment of M/s. Kalyaniwalla & Mistry, Chartered Accountants as Statutory Auditors.

Your Company has also re-appointed M/s. Kirtane & Pandit as Concurrent auditors of the Company, with effect from 1st April 2016 for the financial year 2016-17.

31. Statutory Information

Personnel

A statement giving the information required under Companies Act, 2013, read with the Companies (Particulars of Employees) Rules, 1975 as amended, the names and other particulars of the employees are set out in the annexure to the Directors’ Report.


Conservation Of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo

During the year under review, the Company’s foreign exchange outgo was ` 38.49 crores. The total foreign exchange earnings amounted to ` 19.29 crores during the same year.

Fixed Deposits

The Company has not accepted any deposit from the public during the year.

32. Appreciation & Acknowledgement

The Directors take this opportunity to thank all employees of the Company for their hard work, dedication and commitment. The Directors also thank all the channel partners and the policyholders for their continued support and trust reposed in the Company.

The Directors would also like to express their grateful appreciation for the guidance, assistance and co-operation received from the Insurance Regulatory and Development Authority of India.

For and On behalf of the Board of Directors

Mumbai

Date:- 3rd May 2016

Ishaat HussainChairman


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Corporate Governance at Tata AIALife Insurance Company Ltd.

ANNEXURE TO THE DIRECTOR’S REPORT

In accordance with the Corporate Governance Guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI), the Board of Directors of Tata AIA Life Insurance Company Ltd., adopted the Corporate Governance Framework in the year 2010-11. The Framework is a formal step towards adopting best practices in governance. The Company believes that the practices being adopted for the Company shall go beyond adherence to regulatory framework.

The Corporate Governance Framework provides the guidelines under which the Board of Directors and the Senior Management operates. The governance Framework addresses the responsibilities, authority and administration of the Board of Directors and its various Committees. The Framework also includes the responsibilities of the Principal Officer and defines the reporting relationships.

At Tata AIA Life Insurance Company Ltd., the Corporate Governance philosophy stems from the belief that corporate governance is a key element in improving efficiency and growth as well as enhancing stakeholders’ confidence – be it customers, distribution partners,

employees, regulators, shareholders and other stakeholders. While an effective corporate governance framework would need to be flexible to market dynamics, what would not change are the values, business ethics and integrity.

At the core of its corporate governance practice is the Board, which oversees the way in which the Management serves and protects the long-term interests of all the stakeholders of the Company. The Company believes that an active, well-informed and independent Board is necessary to ensure the highest standards of governance.

Board of Directors (Board)

The Board of Directors comprises 10 members of which 9 are non-executive Directors, including the Chairman.

The Directors bring to the Board a wide range of experience and skills. None of the Directors of the Company are related to each other.

The details of the Board of Directors in terms of their Directorships/ memberships in Committees of public companies and their attendance of meetings in the Company are as under:

Sr. No.

Name of Director Status Qualification

No. of Director-

ships

Chair Person

No. of Committees

in which they are Member

1 Mr. Ishaat Hussain Chairman

Fellow of the Institute of Chartered Accountants in England & Wales, Advanced Management Programme at the Harvard Business School

10 4 7

2Mr. Madhusudan Kannan

Non Executive Director

B.E (Hons.) in Electical and Electronics, MSc. (Hons) in Economics from BITS,PIlani,India & MBA in Finance from Vanderbilt University, USA

3 - -

3 Mr. Kishor Chaukar

Non Executive Director

BA(Eco)- Karnataka University, PGDBM- IIM -Ahmedabad, DEA- Rural Economics University of Dijon, France

8 3 13

4 Mr. Simeon Preston

Director- AIA representative

MBA (Distinction), INSEAD, France, MSc in Transportation Policy & Planning, University of New Castle upon Tyne, United Kingdom

1 - 6

5 Mr. William Lisle

Director- AIA representative

MBA (Dist) National Institute of Management Mumbai (2004). Wharton School of Business Finance, Canada (2000). HNC in Mechanical Engineering (1987)

1 - 3

6 Mr. Janki Ballabh

Independent Director

M.Com, Certified Associate of Indian Institute of Bankers (CAIIB) 6 - 20

Composition of the Board


For the purpose of considering the limit of the Committee Memberships of the Directors, the Audit Committee, Investment Committee, Risk and Asset Liability Management Committee, Policyholder Protection Committee, Corporate Social Responsibility Committee, With Profits Committee and Nomination and Remuneration Committee of companies alone have been considered.

Tenure

The Non Executive Directors of the Company are eligible to retire by rotation. One third of the said Directors are liable to retire every year and if eligible, offer themselves for reappointment.

Responsibilities

The Board of Directors represents the interests of the Company’s shareholders and policyholders in optimizing long-term value by providing the Management with guidance and strategic direction on the shareholders’ behalf. The Board’s mandate is to oversee the Company’s strategic direction, review corporate performance, authorise and monitor strategic investments, ensure regulatory compliance and safeguard interests of all stakeholders.

Board Meetings

The meetings of the Board of Directors are usually held at the Company’s registered office at 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai 400013. The meetings are generally

Sr. No.

Name of Director Status Qualification

No. of Director-

ships

Chair Person

No. of Committees

in which they are Member

7 Mr. Pratip Kar

Independent Director MBA INSEAD, France 2 1 2

8 Mr. D K Mehrotra

Independent Director Bsc. (Hons.) 5 - 2

9 Ms. Roopa Kudva

Independent Director B. Sc. (Statistics), MBA 4 - 2

10 Mr. Naveen Tahilyani

Managing Director & CEO

MBA Degree from IIM, Ahmedabad, Bachelor of Technology from IIT, Madras 1 - 4

scheduled well in advance and the notice of each Board meeting is given to each Director. The Board meets at least once a quarter to review the quarterly performance and the financial results of the Company.

The Company Secretary in consultation with the Managing Director prepares a detailed agenda for the meetings. The Board is provided with the information as stipulated in the Corporate Governance Framework. The Board papers, agenda and other explanatory notes are circulated to the Directors in advance.

The members of the Board have access to all information of the Company. The members of the Board are also free to recommend inclusion of any matter in the agenda for discussion. Senior management is invited to attend the Board meetings so as to provide additional inputs to the items being discussed by the Board. The minutes of each Board/Committee meeting are recorded and draft minutes circulated to all Directors for their confirmation before being recorded in the Minutes Book.

Number of Board Meetings

During the year, the Board of Directors met Five times on the following dates:-

99th Board Meeting 29-Apr-15

100th Board Meeting 13-Aug-15

101st Board Meeting 02-Nov-15

102nd Board Meeting 27-Jan-16

103rd Board Meeting 12-Feb-16

Attendance of Directors upto 31st March

Name of Director Meetings held Meetings Attended Attended Fifteenth AGM held on 13th August 2015

Mr. Ishaat Hussain (Chairman) 5 5 Yes

Mr. Madhusudan Kannan 5 5 Yes

Mr. Kishor Chaukar 5 4 No

Mr. Simeon Preston 5 5 Yes

Mr. Gordon Timmins Watson* 1 - NoMr. Manoj Ramachandran** (Alternate Director to Mr. Gordon Watson) 1 1 No

Mr. William Lisle # 4 3 Yes


*Resigned as on 13th August 2015 ** Resigned as on 13th August 2015#Appointed as on 13th August 2015@ Appointed as on 13th August 2015Âppointed as on 4th May 2015

Board Committees

To enable efficient oversight on the affairs of the Company, the Board delegates particular matters to Committees of the Board constituted with specific terms of reference. These Committees prepare the groundwork for decision-making and report at the subsequent Board meeting.

Audit Committee

The Audit Committee comprises six Non-Executive Directors of the Company namely Mr. Janki Ballabh, Mr. Ishaat Hussain, Mr. Simeon Preston, Mr. Pratip Kar, Mr. William Lisle and Ms. Roopa Kudva. The chairman is an independent Director.

The Audit Committee met four times during the financial year (FY) 2015-16. The Committee reviews the reports of the Internal Auditors, Concurrent Auditors and the Statutory Auditors. The Audit Committee also invites Senior Executives, Concurrent Auditors and the Statutory Auditors, as it considers appropriate, to be present at its meetings.

During the year under review, the Committee, inter alia, reviewed the quarterly financial statements, reports by internal auditors, concurrent auditors and findings of special audits, efficacy of the risk management framework along with risk mitigation measures, the statement of significant related party transactions and management letters issued by the statutory and internal auditors.

Number of Audit Committee Meetings

During the year, the Audit Committee met Four times on the following dates:-

Sr. No. Dates1 29-Apr-152 13-Aug-153 02-Nov-154 12-Feb-16

Attendance

The details of the attendance of the members of the Committee upto 31st March, 2016, are listed below

Members Meetings Held

Meetings Attended

Mr. Janki Ballabh 4 4Mr. Ishaat Hussain 4 4Mr. Pratip Kar 4 4Mr. Gordon Watson* 2 -Mr. Manoj Ramachandran** (Alternate Director to Mr. Gordon Watson

2 1

Mr. William Lisle# 2 1Mr. Manoj Ramachandran@ (Alternate Director to Mr. William Lisle)

2 2

Mr. Simeon Preston 4 4Ms. Roopa Kudva^ 3 3

*Resigned as on 13th August 2015 ** Resigned as on 13th August 2015#Appointed as on 13th August 2015@ Appointed as on 13th August 2015Âppointed as on 4th May 2015

Nomination and Remuneration Committee

The Nomination and Remuneration Committee comprises independent and non-executive Directors. The members of the Nomination and Remuneration Committee are Mr. Janki Ballabh, Mr. Ishaat Hussain, Mr. Pratip Kar and Mr. Simeon Preston.

The annual compensation of whole time Director(s) and the KMPs are approved by the Committee and are subject to the overall limits as approved by the shareholders and IRDAI. The Nomination and Remuneration Committee evaluated performance of the Director of the Company.

Number of Nomination and Remuneration Committee Meetings

During the year, the Nomination and Remuneration Committee met Four times on the following dates

Name of Director Meetings held Meetings Attended Attended Fifteenth AGM held on 13th August 2015

Mr. Manoj Ramachandran@ (Alternate Director to Mr. William Lisle) 4 - No

Mr. Janki Ballabh 5 5 Yes

Mr. Pratip Kar 5 5 Yes

Mr. D K Mehrotra 5 5 Yes

Ms. Roopa Kudva^ 4 4 Yes

Mr. Naveen Tahilyani 5 5 Yes

Note: Members have attended through telecom and Videocall where physical presence was not feasible.


Sr. No. Dates1 27-Apr-152 29-Apr-153 8-Oct-154 17-Dec-15

Attendance The details of the attendance of the members of the Committee along with sitting fees paid are listed below:


Meetings Attended

Mr. Janki Ballabh 4 4Mr. Ishaat Hussain 4 4Mr. Pratip Kar 4 4Mr. Simeon Preston 4 4

Investment CommitteeThe Investment Committee comprises 5 Non-Executive Directors namely Mr. Janki Ballabh, Mr. Kishor Chaukar, Mr. D K Mehrotra, Mr. William Lisle and Mr. Simeon Preston. Executive members of the Committee (in accordance with the IRDA Regulations) comprises of the Managing Director, Chief Financial Officer, Chief Investment Officer and the Appointed Actuary.

Number of Investment Committee MeetingsDuring the year, the Investment Committee met five times on the following dates

Sr. No. Dates1 10-Jul-152 8-Oct-153 27-Nov-154 27-Jan-165 22-Mar-16

AttendanceThe details of the attendance of the members of the Committee upto 31st March, 2016, are listed below:


Meetings Attended

Mr. Ishaat Hussain^^ 4 4Mr. Janki Ballabh 5 5Mr. Kishor Chaukar^ 1 -Mr. D K Mehrotra 5 5Mr. Simeon Preston 5 4Mr. Gordon Watson* 1 -Mr. Manoj Ramachandran** (Alternate Director to Mr. Gordon Watson)

1 -


4 -

Mr. Harshad Patil 5 5Mr. Heerak Basu 5 5Mr. Vishal Bandlish 5 5Mr. Naveen Tahilyani 5 5

*Resigned as on 13th August 2015

** Resigned as on 13th August 2015#Appointed as on 13th August 2015@ Appointed as on 13th August 2015Âppointed as on 27th January 2016^^Ceased to be member as on 27th January 2016

Corporate Social Responsibility (CSR)The Committee Consists of 4 Non-Executive Directors namely Mr. Janki Ballabh, Mr. Kishor Chaukar, Mr. Pratip Kar and Mr. Simeon Preston. The Corporate Social Responsibility policy approved by the Board of Directors and also uploaded on the website of the Company.

During the year no meeting of the Committee was held.

Members Mr. Janki BallabhMr. Kishor ChaukarMr. Pratip karMr. Simeon Preston

Risk and Asset Liability Management (RALM) Committee: The Committee would largely provide an oversight to the risk management framework adopted in the Company, and promote risk management culture in the Company’s key management processes. The Committee consists of Mr. Ishaat Hussain, Mr. Kishor Chaukar, Ms. Roopa Kudva, Mr. Simeon Preston, Mr. William Lisle and Mr. Naveen Tahilyani.

Number of Risk and Asset Liability Management (RALM) Committee MeetingsDuring the year, the RALM Committee met four times on the following dates

Sr. No. Dates1 10-Jul-152 8-Oct-153 27-Jan-164 22-Mar-16

AttendanceThe details of the attendance of the members of the Committee upto 31st March, 2016, are listed below:


Meetings Attended

Mr. Ishaat Hussain 4 4Mr. Kishor Chaukar 4 3Ms. Roopa Kudva 3 3Mr. Simeon Preston 4 3Mr. Gordon Timmins Watson* 1 -Mr. Manoj Ramachandran** (Alternate Director to Mr. Gordon Watson)

1 1



Meetings Attended


3 -

Mr. Naveen Tahilyani 4 4*Resigned as on 13th August 2015

** Resigned as on 13th August 2015#Appointed as on 13th August 2015@ Appointed as on 13th August 2015

Policyholders Protection Committee: The primary function of the Committee is to implement systems and processes with respect to managing customer complaints and addressing grievances of policyholders including mis-selling by intermediaries and to ensure adequacy of disclosure of material information to the policy holders. The Committee consists of Mr. Pratip Kar, Mr. Kishor Chaukar, Mr. William Lisle, and Mr. Naveen Tahilyani.

Number of Policyholders Protection Committee (PPC) MeetingsDuring the year, the PPC met four times on the following dates

Sr. No. Dates1 29-Apr-152 13-Aug-153 2-Nov-154 12-Feb-16

AttendanceThe details of the attendance of the members of the Committee are listed below:


Meetings Attended

Mr. Pratip Kar 4 4Mr. Kishor Chaukar 4 3Mr. Gordon Timmins Watson 2 0Mr. Manoj Ramachandran (Alternate Director to Mr. Gordon Watson)

2 1

Mr. William Lisle# 2 2Mr. Manoj Ramachandran@

(Alternate Director to Mr. William Lisle)

2 -

Mr. Naveen Tahilyani 4 4*Resigned as on 13th August 2015

** Resigned as on 13th August 2015#Appointed as on 13th August 2015@ Appointed as on 13th August 2015

With Profits CommitteeThe Committee Consists of 5 Members, the Independent Director is the Chairman of the Committee. The members of With profits Committee are Mr. Janki Ballabh, Mr. D K Mehrotra, Mr. Heerak Basu, Mr. Saket Singhal and Mr. Naveen Tahilyani

Number of With Profits Committee MeetingsDuring the year, the With Profits Committee met only one times on the following dates

Sr. No. Dates1 27-Apr-15

AttendanceDuring the year the Committee met one time. The details of the attendance of the members of the Committee upto 31st March, 2016, are listed below:


Meetings Attended

Mr. Janki Ballabh 1 1Mr. D K Mehrotra - -Mr. Heerak Basu 1 1Mr. Saket Singhal 1 1Mr. Naveen Tahilyani 1 1

Independent Directors MeetingThe meeting of Independent Director of the Company was held on 30th March 2016.

Code of ConductThe Company has framed and adopted a Code of Conduct and is applicable to all employees of the Company. This code has been posted on the Company’s Intranet.

Insider Trading Policies and ProceduresThe Company has established policies and procedures for the conduct of personal account trading. The Code is applicable to all the authorised signatories of investment deals, Senior Management of the Company and the Investment team.

In terms thereof, the concerned persons are required to obtain prior approval by Compliance Officer and the Chief Investment Officer (or in their absence, the alternates as designated in the Personal Account Trading Form) for any trading in market investments. Prior approval is required even for application for rights issue or IPO and the same is tracked through an online system designed In-house by the Company.

Disclosures Transactions with Non-Executive DirectorsThe Non-Executive and Independent Directors of the Company do not have any material pecuniary relationships or transactions with the Company or its Directors, its Senior Management, other than premiums on insurance policies held by Non-Executive and Independent Directors.


Details of remuneration to Non Whole time Directors

Sr. No. Name of Directors Sitting Fees Paid*

(Amt. in Rs.)1 Mr. Ishaat Hussain 9,09,000

2 Mr. Madhusudan Kannan 90,000

3 Mr. Kishor Chaukar 3,96,000

4 Mr. Janki Ballabh 8,10,000

5 Mr. Pratip Kar 6,84,000

6 Mr. D K Mehrotra 4,32,000

7 Ms. Roopa Kudva 3,60,000 *Amounts mentioned above are after deduction of TDS.

General Body Meetings(i) Details of Past Annual General Meetings (AGMs)

Year AGM Location Date Time

2012-13 13th Board Room, 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013 8th August 2013 2.30 p.m.



(ii) Details of Extra Ordinary General Meeting

Year Location Date Time

2015-16 Meeting Room, 1st Floor, Bombay House, Homi Modi St, Kala Ghoda, Fort, Mumbai, Maharashtra 400001 24th February 2013 10.00 a.m.

(iii) Details of Special Resolutions passed in the previous 3 AGMs

Date of AGM AGM No. Business transacted by Special Resolution

8th August 2013 13th • Transfer of sum from Shareholder’s account to Policy holder’s account.



• Appointment of Mr. Naveen Tahilyani as the Managing Director of the Company

(iv) Postal Ballot (under Section 110 of the Companies Act, 2013):

None of the Business required to be transacted as Special Resolution through postal ballot was passed in last year.

Disclosures

(a) There are no materially significant related party transactions that have/may have potential conflict with the interest of the Company. Transactions with related

On behalf of the Board of Directors

Mumbai

Date:- 3rd May 2016

Ishaat Hussain

Chairman

parties are disclosed in Notes to the Balance Sheet.

Means of Communication

Quarterly results of the Company are submitted to the Insurance Regulatory and Development Authority of India.

Details of new business financials are posted on the IRDA website www.irda.gov.in

The Company has its own website www.tataaia.com and all the vital information relating to the Company and its products is displayed at the website.


Form No. MR-3

SECRETARIAL AUDIT REPORT

For the financial year ended 31st March, 2016

[ Pursuant to section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014]

To

The Members

Tata AIA Life Insurance Company Limited

14th Floor, Tower A,

Peninsula Business Park,

Senapati Bapat Marg, Lower Parel,

Mumbai -400 013

We have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to corporate practices by Tata AIA Life Insurance Company Limited (hereinafter called ‘the Company’) for the audit period covering the financial year ended on 31” March, 2016. Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts / statutory compliances and expressing our opinion thereon.

Based on our verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the Company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of Secretarial Audit, and subject to our separate letter attached as Annexure I; we hereby report that in our opinion, the Company has, during the audit period generally complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance mechanism in place to the extent, in the manner and subject to the reporting made hereinafter.

We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year ended on 31” March, 2016 according to the provisions of:

(i) The Companies Act, 2013 (‘the Act’) and the Rules made thereunder;

(ii) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;

(iii) Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of Foreign Direct Investment, Overseas Direct Investment

and External Commercial borrowings;

(iv) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’):

(a) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with client.

(v) The Insurance Act, 1938.

We have also examined compliance with the applicable clauses of the Secretarial Standards issued by the Institute of Company Secretaries of India related to meetings and minutes.

During the period under review, the Company has generally complied with the provisions of the Act, Rules, Regulations, Guidelines, etc. mentioned above.

During the period under review, provisions of the following Act / Regulations were not applicable to the Company:

(i) The Securities Contracts (Regulation) Act, 1956 (SCRA) and the Rules made thereunder;

(ii) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’):

a. The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;

b. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;

c. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009;

d. The Securities and Exchange Board of lndia(Share Based Employee Benefits), Regulations, 2014;

e. The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008;

f. The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009;

g. The Securities and Exchange Board of India (Buyback of Securities) Regulation, 1998;

h. The Securities and Exchange Board of India (listing Obligations and Disclosure Requirements) Regulations, 2015;

(iii) Listing Agreement (since not applicable being an unlisted company).


We further report that -The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non Executive Directors and Independent Directors. The changes in the comptosition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act. The Company has constituted the Audit Committee as required under section 177(1) of the Act read with Rule 6 of the Companies (Meetings of Board and its Powers) Rules, 2014. However, the Committee is not constituted with independent directors forming a majority os required under section 177 (2) of the Act.

Proper notice is given to all Directors to schedule the Board meetings in compliance with the provisions of Section 173(3) of the Companies Act, 2013, agenda and detailed notes on agenda were generally sent at least seven days in advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

Decisions at the meetings of the Board of Directors of the Company were carried through on the basis of majority. There were no dissenting views by any member of the Board of Directors during the period under review.

We further report that -There are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines.

We further report that during the audit period, there was no specific event/action having a major bearing on the Company’ s affairs in pursuance to the above referred laws, rules, regulations, guidelines, etc. referred to above.

For BNP & Associates

Company Secretaries

Jatin PopatPartner

FCS 4047 / CP No.6880Place: Mumbai

Date: 3rd May 2016

308, Orchid Plaza, Behind Gokul Shopping Centre, Off S. V. Road, Borivli (West), Mumbai - 400092. India.Tel.:26839651-52 # Email:[email protected] # Website: www.bnp-associates.com

Annexure I to the Secretarial Audit Report for the financial year ended 31” March, 2016

To,

The Members,


Our secretarial audit report of even date is to be read along with this letter.

1. Maintenance of Secretarial records and compliance of the provisions of corporate and other applicable la ws, rules, regulations, standards are the responsibility of the management of the Company. Our responsibility is to express an opinion on these secretarial records and compliance based on our audit.

2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of the Secretarial Records. The verification was done on the test basis to ensure that correct facts are reflected in secretarial records. We believe that the processes and practices, we followed provide a reasonable basis for our opinion.

3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.

4. Wherever required, we have obtained the management representation about the compliance of laws, rules and regulations and happening of events etc.

For BNP & Associates

Company Secretaries

Jatin PopatPartner

FCS 4047 / CP No.6880Place: Mumbai

Date: 3rd May 2016


EXTRACT OF ANNUAL RETURN

As on the financial year ended on March 31, 2016

[Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014]

I. Registration and other details:

i) CIN U66010MH2000PLC128403

ii) Registration Date 23/08/2000

iii) Name of the Company Tata AIA Life Insurance Company Limited

iv) Category / Sub-Category of the Company Company limited by Shares Non-government company

v) Address of the registered Office and contact details 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, LowerParel, Mumbai - 400013

vi) Whether listed company Yes / No NO

vii) Name, Address and Contact details of Registrar and Transfer Agent, if any NA

II. Principal business activities of the company all the business activities contributing 10% or more of the total turnover of the company shall be stated:

Sl. No. Name and Description of main products/services

services NIC Code of the Product/ services

% to total turnover of the company

1. Life insurance 65110 100%

2.

3.

4.

5.

III. Particulars of holding, subsidiary and associate companies:

Sr. No. Name And Address Of The Company CIN/GLN

Holding/ Subsidiary/ Associate

% Of Shares Held

Applicable Section

1.

Tata Sons Limited Bombay House 24 HomiMody Street Mumbai- 400001

U99999MH1917PLC000478 Holding 74% 2(87)(ii)

Form No. MGT-9


IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)

i) Category-wise Share Holding

Category of Shareholders

No. of Shares held at the beginning of the year

No. of Shares held at the end of the year

% Change during

the yearDemat

Physical Total% of Total

Shares

Demat


Shares

A.Promoters (1) Indiana) Individual/ HUFb) Central Govtc) State Govt d) Bodies Corp.e) Banks/FIf) Any Other….

1,44,55,90,000 1,44,55,90,000 74% 1,44,55,90,000 1,44,55,90,000 74%

Sub-total (A) (1):- 1,44,55,90,000 1,44,55,90,000 74% 1,44,55,90,000 1,44,55,90,000 74% --

(2) Foreign 50,79,10,000 50,79,10,000 26% 50,79,10,000 50,79,10,000 26% --

Sub-total (A) (2):- 50,79,10,000 50,79,10,000 26% 50,79,10,000 50,79,10,000 26% --

Total shareholding of Promoter (A) = (A)(1)+(A)(2)

1,95,35,00,000 1,95,35,00,000 100% 1,95,35,00,000 1,95,35,00,000 100% --

B. Public Shareholding1. Institutionsa) Mutual Fundsb) Banks/FIc) Central Govtd) State Govt(s)e) Venture Capital Fundsf) Insurance Companiesg) FIIsh) Foreign Venture Capital Funds

-- -- --

i) Others (specify)

Sub-total (B)(1):-2. Non-Institutionsa) Bodies Corp.i) Indianii) Overseasb) Individualsi) Individual shareholders holding nominal share capital upto ` 1 lakhii) Individual shareholders holding nominal share capital in excess of ` 1 lakhc) Others (specify)

Sub-total (B)(2):-Total Public Shareholding (B) = (B)(1) + (B)(2)


Category of Shareholders

No. of Shares held at the beginning of the year

No. of Shares held at the end of the year

% Change during

the year

Demat


Shares

Demat


Shares

C. Shares held by Custodian for GDRS & ADRS

Nil

Grand Total (A+B+C) 1,95,35,00,000 1,95,35,00,000 100% 1,95,35,00,000 1,95,35,00,000 100%

ii) Shareholding of Promoters

S. No.

Shareholder’sName

Shareholding at the beginning of the year Share holding at the end of the year

No. of Shares

% of total Shares of the

company

% of Shares Pledged/

encumbered to total shares

No. of Shares

% of total Shares of the

company

% of Shares Pledged/

encumbered to total shares

% change

in share

holding during

the year

1 Tata Sons Limited 1,44,55,90,000 74% Nil 1,44,55,90,000 74% Nil Nil

2AIA International Limited

50,79,10,000 26% Nil 50,79,10,000 26% Nil Nil

Total 1,95,35,00,000 100% Nil 1,95,35,00,000 100% Nil Nil

iii) Change in Promoters’ Shareholding (please specify, if there is no change)

Sl. No.

Shareholding at the beginning of the year

Cumulative Shareholding during the year

No. of shares % of total shares of the company No. of shares % of total shares

of the company

1


iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):

Sl. No.



For Each of the Top 10 Shareholders No. of shares % of total shares

of the company No. of shares % of total shares of the company

NA

v) Shareholding of Directors and Key Managerial Personnel:

Sl. No.



% of total shares of the company

-

V. Indebtedness (Indebtedness of the Company including interest outstanding/accrued but not due for payment):

Secured Loans excluding deposits

Unsecured Loans Deposits Total

Indebtedness

Indebtedness at the beginning of the financial year

i) Principal Amount

ii) Interest due but not paid

iii) Interest accrued but not due

NIL

Total (i+ii+iii)

Change in Indebtedness during the financial year

• Addition

• Reduction

Net Change

Indebtedness at the end of the financial year

i) Principal Amount

ii) Interest due but not paid

iii) Interest accrued but not due

Total (i+ii+iii)


VI. Remuneration of directors and key managerial personnel

A .Remuneration to Managing Director, Whole-time Directors and/or Manager:

Sl. No. Particulars of Remuneration Name of MD/WTD/ Manager Total Amount

Mr. Naveen Dindayal Tahilyani

1. Gross salary (a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 (b) Value of perquisites u/s 17(2) Income-tax Act, 1961 (c) Profits in lieu of salary under section 17 (3) Income-tax Act, 1961

3,50,00,000

2. Stock Option

3. Sweat Equity

4.Commission - as % of profit - others, specify

5. Others, please specify 3,90,00,000

Total (A) 7,40,00,000

Ceiling as per the Act

B. Remuneration to other directors:

Sl. No. Particulars of Remuneration Name of MD/WTD/ Manager Total Amount

Independent Directors Mr. Janki Ballabh

Mr. Pratip Kar

Mr. D K Mehrotra

Ms. Roopa Kudva

• Fee for attending board / committee meetings• Commission • Others, please specify

8,10,000 6,84,000 4,32,000 3,60,000

Total (1) 8,10,000 6,84,000 4,32,000 3,60,000 22,86,000

Other Non-Executive Directors Mr. Ishaat Hussain Mr. Kishor Chaukar Mr. Madhusudan Kannan

• Fee for attending board / committee meetings • Commission • Others, please specify

9,09,000 3,96,000 90,000

Total (2) 9,09,000 3,96,000 90,000 13,95,000

Total (B)=(1+2) 36,81,000

Total Managerial Remuneration

Overall Ceiling as per the Act


C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD

Sl. No. Particulars of Remuneration Key Managerial Personnel

CEO Company Secretary CFO Total

Mr. Naveen Tahilyani

Mr. Swaminathan Iyer

Mr. Vishalkumar Bandlish

1. Gross salary (a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 (b) Value of perquisites u/s 17(2) Income-tax Act, 1961 (c) Profits in lieu of salary under section 17(3) Income-tax Act, 1961

3,50,00,000 7,73,3500 6,60,0000

2. Stock Option

3. Sweat Equity

4.Commission - as % of profit - others, specify

5. Others, please specify 3,90,00,000

Total (A) 7,40,00,000 77,33,500 66,00,000 883,33,500

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Type Section of the Companies Act

Brief Description

Details of Penalty / Punishment/

Compounding fees imposed

Authority [RD / NCLT/ COURT]

Appeal made, if any (give

Details)

Penalty

Punishment

Compounding

C. OTHER OFFICERS IN DEFAULT

Penalty

Punishment

Compounding


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INDEPENDENT AUDITORS’ REPORT

TO THE BOARD OF DIRECTORS OF

TATA AIA LIFE INSURANCE COMPANY LIMITED

Report on the Financial Statements

1. We have audited the accompanying financial statements of TATA AIA LIFE INSURANCE COMPANY LIMITED (“the Company”), which comprise the Balance Sheet as at March 31, 2016, the related Revenue Account (also called the “Policyholders’ Account” or the “Technical Account”), the Profit and Loss Account (also called the “Shareholders’ Account” or “Non-Technical Account”) and the Receipts and Payments Account for the year then ended, and a summary of the significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

2. The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the provisions of the Insurance Act, 1938, as amended by the Insurance Laws (Amendment) Act, 2015, read with Insurance Regulatory and Development Authority of India circular IRDAI/F&A/CIR/FA/059/03/2015 dated March 31, 2015 (the “Insurance Act”), the Insurance Regulatory and Development Authority Act, 1999 (the “IRDA Act”), the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002 (the “IRDA Financial Statements Regulations”), orders/directions issued by the Insurance Regulatory and Development Authority of India (the “IRDA”/“Authority”) in this regard, the Accounting Standards specified under Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules, 2014 to the extent applicable. This responsibility also includes maintenance of adequate accounting records, in accordance with the provisions of the Act, for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting

records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility

3. Our responsibility is to express an opinion on these Financial Statements based on our audit.

4. We have taken into account the provisions of the Act, the Insurance Act, the IRDA Act, the IRDA Financial Statements Regulations, orders/directions issued by IRDA, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made there under.

5. We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Financial Statements are free from material misstatement.

6. An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the Financial Statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the Financial Statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company’s preparation of the Financial Statements, that give a true and fair view, in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company’s Directors, as well as evaluating the overall presentation of the Financial Statements.

7. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

N.M. Raiji & Co.Chartered Accountants6th Floor, UniversalInsurance BuildingSir P.M. Road, Fort,Mumbai - 400 001

Walker Chandiok & Co LLP(Formerly Walker, Chandiok & Co) Chartered Accountants16th Floor, Tower II,Indiabulls Finance Centre,S B Marg, Elphinstone (W),Mumbai – 400 013


Opinion

8. In our opinion and to the best of our information and according to the explanations given to us the aforesaid financial statements give the information required by the Insurance Act, the IRDA Act, the IRDA Financial Statements Regulations and orders/directions issued by the IRDA to the extent applicable and in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, as applicable to Insurance Companies:

(i) in case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2016;

(ii) in case of the Revenue Account of the surplus for the year ended March 31, 2016;

(iii) in case of the Profit and Loss Account, of the profit for the year ended on that date; and

(iv) in case of the Receipts and Payments Account, of the receipts and payments for the year ended on that date.

Other matters

9. The actuarial valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued, but liability exists as at March 31, 2016, is the responsibility of the Company’s Appointed Actuary (the “Appointed Actuary”). The actuarial valuation of these liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists as at March 31, 2016, has been duly certified by the Appointed Actuary and in his opinion, the assumptions for such valuation are in accordance with the guidelines and norms issued by the IRDA and the Institute of Actuaries of India in concurrence with the Authority. We have relied upon Appointed Actuary’s certificate in this regard for forming our opinion on the valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists on financial statements of the Company.

10. The financial statements of the Company for the year ended March 31, 2015 were audited by the joint auditors of the Company, one of that is predecessor, who expressed an unmodified opinion on the financial statements on April 29, 2015.

Report on Other Legal and Regulatory Requirements

11. As required by the IRDA Financial Statements Regulations, we have issued a separate certificate dated May 3, 2016 certifying the matters specified in paragraphs 3 and 4 of Schedule C to the IRDA Financial Statements Regulations.

12. This report does not include a statement on the matters specified in paragraph 3 of the Companies (Auditor’s Report) Order 2016 (“the Order”), issued by the Central Government of India in terms of Section 143(11) of the Act, since in our opinion and according to the information and explanations given to us, the

Order is not applicable.

13. As required by the IRDA Financial Statements Regulations, read with Section 143(3) of the Act, we report that:

(a) We have sought and obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of the audit and have found them to be satisfactory;

(b) In our opinion, proper books of account as required by law have been kept by the Company, so far as it appears from our examination of those books;

(c) As the Company’s financial accounting system is centralized, no returns for the purposes of our audit are prepared at the branches of the Company;

(d) The Balance Sheet, the Revenue Account, the Profit and Loss Account and the Receipts and Payments Account dealt with by this report are in agreement with the books of account;

(e) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 to the extent they are not inconsistent with the accounting principles prescribed in the IRDA Financial Statements Regulations and orders/directions issued by the IRDA in this regard;

(f) In our opinion and to the best of our information and according to the explanations given to us, investments have been valued in accordance with the provisions of the Insurance Act, the IRDA Financial Statements Regulations and/or orders/directions issued by the IRDA in this regard;

(g) In our opinion, the accounting policies selected by the Company are appropriate and are in compliance with the applicable Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 (as amended) and with the accounting principles as prescribed in the IRDA Financial Statements Regulations and orders/directions issued by the IRDA in this regard;

(h) On the basis of the written representations received from the directors as on March 31, 2016 taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2016 from being appointed as a director in terms of Section 164(2) of the Act;

(i) We have also audited the internal financial controls over financial reporting (IFCoFR) of the Company as of March 31, 2016 in conjunction with our audit of the financial statements of the Company for the year ended on that date and our report dated May 3, 2016, as per Annexure A, expressed unmodified opinion.

(j) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and


according to the explanations given to us:

i. The Company has disclosed the impact of pending litigations on its financial position in its financial statements – Refer Schedule 16 Note B.1 to the financial statements.

ii. The liability for insurance contracts, is determined by the Company’s Appointed Actuary as per Schedule 16 Note B.2, and is covered by the Appointed Actuary’s

For N.M. Raiji & Co.

Chartered Accountants

Firm’s Registration No.108296W

per Vinay D. Balse

Partner

Membership No.: 39434

Mumbai

Date: May 3rd, 2016

For Walker Chandiok & Co LLP

(Formerly Walker, Chandiok & Co)


Firm’s Registration No.: 001076N/N500013

per Khushroo B. Panthaky

Partner


Mumbai

Date: May 3rd, 2016

certificate, referred to in paragraph 9 above, on which we have placed reliance; and the Company did not have any other long term contracts including derivative contracts for which there were any material foreseeable losses.

iii. The Company was not required to deposit or pay any dues in respect of the Investor Education and Protection Fund during the year.


Annexure 1

Independent Auditor’s report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”)

1. In conjunction with our audit of the financial statements of Tata AIA Life Insurance Company Limited (“the Company”) as of and for the year ended March 31, 2016, we have audited the internal financial controls over financial reporting (IFCoFR) of the Company as of that date.

Management’s Responsibility for Internal Financial Controls

2. The Company’s Board of Directors is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (“the Guidance Note”) issued by the Institute of Chartered Accountants of India (“ICAI”) [‘the framework’]. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of the company’s business, including adherence to company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

Auditors’ Responsibility

3. Our responsibility is to express an opinion on the Company’s IFCoFR based on our audit. We conducted our audit in accordance with the Standards on Auditing, issued by the Institute of Chartered Accountants of India (ICAI) and deemed to be prescribed under section 143(10) of the Act, to the extent applicable to an audit of IFCoFR, and the Guidance Note issued by the ICAI. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate IFCoFR were established and maintained and if such controls operated effectively in all material respects.

4. Our audit involves performing procedures to obtain audit evidence about the adequacy of the IFCoFR and their operating effectiveness. Our audit of IFCoFR

included obtaining an understanding of IFCoFR, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

5. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company’s IFCoFR.

Meaning of Internal Financial Controls over Financial Reporting

6. A company’s IFCoFR is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s IFCoFR includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2)provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

7. Because of the inherent limitations of IFCoFR, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the IFCoFR to future periods are subject to the risk that IFCoFR may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.




Opinion

8. In our opinion, the Company has, in all material respects, adequate IFCoFR and such IFCoFR were operating effectively as at March 31, 2016, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note issued by the Institute of Chartered Accountants of India.

Other matters

9. As stated in ‘other matters’ paragraph of the Independent Auditor’s Report on the financial statements of the Company, the actuarial valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued, but liability exists as at March 31, 2016, is the responsibility of the Company’s Appointed Actuary (the “Appointed

Actuary”). The actuarial valuation of these liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists as at March 31, 2016, has been duly certified by the Appointed Actuary and in his opinion, the assumptions for such valuation are in accordance with the guidelines and norms issued by the IRDAI and the Institute of Actuaries of India in concurrence with the Authority. We have relied upon Appointed Actuary’s certificate in this regard for forming our opinion on the financial statements of the Company.

Accordingly, we have not audited the IFCoFR in respect of the valuation and accuracy of liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists, certified by the Appointed Actuary and has been relied upon by us.




per Vinay D. Balse

Partner


Mumbai

Date: May 3rd, 2016






Partner


Mumbai

Date: May 3rd, 2016





per Vinay D. Balse

Partner


MumbaiDate: May 3rd, 2016






Partner




Independent Auditor’s Certificate(Referred to in paragraph 11 of our Report on Other Legal and Regulatory Requirements forming part of the Independent Auditor’s Report dated May 3, 2016)

This certificate is issued to comply with the provisions of paragraphs 3 and 4 of Schedule C of the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002 (the “IRDA Financial Statements Regulations”) read with Regulation 3 of the IRDA Financial Statements Regulations.

The Company’s Management is responsible for complying with the provisions of the Insurance Act, 1938 as amended by the Insurance Laws (Amendment) Act, 2015, read with Insurance Regulatory and Development Authority of India circular IRDAI/F&A/CIR/FA/059/03/2015 dated March 31, 2015 (the “Insurance Act”), the Insurance Regulatory and Development Authority Act, 1999 (the “IRDA Act”), the IRDA Financial Statements Regulations, orders/directions issued by the Insurance Regulatory and Development Authority of India (the “IRDA”) which includes the preparation of the Management Report. This includes collecting, collating and validating data and designing, implementing and monitoring of internal controls suitable for ensuring compliance as aforesaid.

Our responsibility, for the purpose of this certificate, is limited to certifying matters contained in paragraphs 3 and 4 of Schedule C of the IRDA Financial Statements Regulations. We conducted our examination in accordance with the Guidance Note on Audit Reports and Certificates for Special Purposes issued by the Institute of Chartered Accountants of India, which


include the concepts of test checks and materiality.

In accordance with the information and explanations given to us and to the best of our knowledge and belief and based on our examination of the books of account and other records maintained by TATA AIA LIFE INSURANCE COMPANY LIMITED (“the Company”) for the year ended March 31, 2016, we certify that:

1. We have reviewed the Management Report attached to the financial statements for the year ended March 31, 2016, and on the basis of our review, there is no apparent mistake or material inconsistencies with the financial statements;

2. Based on the Management representations and compliance certificates submitted to the Board of Directors by the officers of the Company charged with compliance and the same being noted by the Board, we certify that the Company has complied with the terms and conditions of registration stipulated by IRDA;

3. We have verified the cash balances, to the extent considered necessary, and securities relating to the Company’s loans and investments as at March 31, 2016, by actual inspection or on the basis of certificates/confirmations received from the Custodian and/or Depository Participants appointed by the Company, as the case may be. As at March 31, 2016, the Company does not have reversions and life interests;

4. The Company is not a trustee of any trust; and

5. No part of the assets of the Policyholders’ Funds has been directly or indirectly applied in contravention to the provisions of the Insurance Act, relating to the application and investments of the Policyholders’ Funds.


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Management Report

In accordance with the provisions of the Insurance Regulatory & Development Authority of India (“IRDAI”) for the accounting year April 1, 2015 to March 31, 2016 and results thereof, the Management of the Company confirms, certifies and declares that:

1. The license in respect of Life Insurance business (Reg. No. 110) granted by the IRDAI continues to stand valid as on the Balance Sheet date and even as of the date of this report.

2. All relevant statutory dues have been generally deposited on time as of the date of this report except those under dispute or disclosed under contingent liabilities in the notes to accounts forming part of the financial statements

3. The Company’s shareholding pattern during the year is in conformity with the IRDAI regulations. There is no change in the shareholding pattern during the year ended March 31, 2016.

Foreign Investment Promotion Board (FIPB) and IRDAI vide its letter Ref. No. F.No.016 (2016)/213(2015) dated 21st March, 2016 and Ref. No.107.1/1/F&A-Life/TALIC-Restr/220/2016 dated 31st March, 2016 respectively, have approved the transfer of shares from Tata Sons Limited to AIA International Limited leading to increase in foreign investment by AIA International Limited from 26% to 49% in Tata AIA Life Insurance Co. Ltd

Subsequently the shares have been transferred from Tata Sons Limited to AIA International Limited on 25th April, 2016. Post transfer of shares the shareholding pattern of the company is as stated below:

Shareholder No. of Equity Shares

Percentage shareholding

Tata Sons Limited 99,62,85,000 51%AIA International Limited 95,72,15,000 49%

Total 1,95,35,00,000 100%

4. The Company has not directly or indirectly invested outside India, the funds of the holders of policies issued in India.

5. The Company has adequate assets to cover both, its liabilities and the minimum solvency margin as stipulated in Section 64VA of the Insurance Act, 1938.

6. The values of all the assets of the company have been reviewed as at March 31, 2016 and to the best of our knowledge and belief, the assets set forth in the Balance Sheet are shown in the aggregate at amounts, not exceeding their realizable or market value under the several headings – Loans, Investments, Agents balances, Outstanding premium, Interest and dividend outstanding, Interest, Dividend accruing but not due, Amounts due from other persons or bodies carrying on insurance business, Cash and various other items specified under other accounts, except in the case of debt securities of non linked business where it is shown at amortized cost.

The information on Debt Securities held by the Company in Non Unit Linked funds as at March 31, 2016 is as follows

(` ‘000)

Government Corporate Infra

structure

Acquisition cost of Debt Securities held

70,952 2,507 20,617

Amortized value of securities as at March 31, 2016

70,952 2,490 20,856

Market Value of the securities as at March 31, 2016

74,116 2,562 21,430

Value of Debt Securities as appearing in the Balance Sheet

70,952 2,490 2,,856

Refer schedules 8 & 8A forming part of the Balance Sheet as at March 31, 2016

7. No part of the Life Insurance funds have been directly or indirectly applied in contravention of the provisions of the Insurance Act, 1938 relating to the application and investment of the Life Insurance funds

8. The Management has identified 4 types of risks at the Company level:

1) Insurance Risk such as pricing risk, product portfolio risk, underwriting and claim and reinsurance risk

These risks are mitigated by:

• Incorporating appropriate margins in assumptions used for product pricing

• Regular monitoring and review of product profitability

• Having documented underwriting guidelines/ procedures

• Risk management through reinsurance

• Conducting regular Underwriting and Claims committee meetings

• Oversight provided by the Risk Management Committee

2) Financial Risk - Market Risk; Credit Risk; Liquidity, Interest risk; Investment risk

This risk is mitigated by the Company’s regular Investment committee meetings which review management of diverse portfolio. The Company’s funds, in the case of non linked business, have been mainly invested in debt securities. While most of these debt investments are in securities issued and guaranteed by the Government of India, investments have also been made in the corporate and infrastructure sector bonds in order to obtain/achieve a yield pick-up. A small allocation has also been made to listed equities. The investment philosophy of the company is to invest in a manner consistent with the liability structure and at the same time, maximize the returns within the risk parameters. The company strives to achieve high asset quality, minimizing income volatility and complying with the regulatory and internal requirements. In case of investment in equity shares for Linked as well as Non

REGISTRATION NO. WITH IRDAI: 110 DATED: FEBRUARY 12, 2001


11.1 Debt Securities

Non Linked Business

Debt securities, including government securities are considered as “held to maturity” and stated at amortized cost.

Linked Business

Debt securities, including government securities are valued at market price, based on the CRISIL Gilt Valuer and the CRISIL Bond Valuer

11.2 Equity and Preference Shares

Non linked business

Listed Equity Shares and Preference Shares are valued at fair value, being the last quoted closing price on the National Stock Exchange (“NSE”) of India Limited or in the event that such equity shares aren’t listed on the NSE, then based on last quoted closing price on the Bombay Stock Exchange Limited (“BSE”). Any unrealised gain/loss arising due to changes in the fair value is recognised in equity under the head “Fair value change account” in the Balance Sheet.

Linked Business

Listed Equity Shares and Preference Shares are valued at fair value, being the last quoted closing price on the NSE of India Limited or at the BSE if the equity shares are not listed on the NSE. Any unrealised gain / (loss) arising due to changes in the fair value is recognized as ‘’Unrealised gains / (loss)’’ in the Revenue account of the fund and is attributed to the unit holders.

12. The Non linked funds of the Company have been mainly invested in the Government securities.

Linked business, the portfolio is well diversified across all the industrial segments and across the companies within specific segments.

3) Operational Risk - System risk; Process risk; Personnel risk

This risk is mitigated by having regular risk committee meetings which review and sets the directions for Company wide processes, training and control. The Company has documented its main processes to mitigate the process risk. This is followed with process of Risk Control Self Assessment carried out by each function and reassurance provided by the Integrated Internal Audit function.

4) Legal and regulatory risks - Litigation and liability risk; Regulatory and compliance risk.

This risk is mitigated by an independent legal, compliance and internal audit divisions. There are regular compliance and audit committee meetings which review the relevant reports from each division and set the direction for resolution and implementation of recommendations made by these reports.

9. The company does not have operations outside India and all policies have been underwritten in India.

10. All Claims received by the Company have been settled within a reasonable period of time. The average claims settlement time has been 2 days from the day all necessary documents are submitted to the company. The ageing of Individual claims registered and not settled as on March 31, 2016 has been disclosed below:

(A) Non- Linked Business

(` ‘000)

Period2015-16 2014-15 2013-14 2012-13 2011-12

No. of claims Amount No. of

claims Amount No. of claims Amount No. of

claims Amount No. of claims Amount

30 days - - 8 3,524 45 14,463 51 13,260 9 3,38830 days to 6 months - - 8 5,600 34 20,674 42 23,911 5 3,3336 months to 1 year - - 2 5,099 1 600 8 8,851 - - 1 year to 5 years - - 3 2,300 7 4,765 - - - - 5 years and above - - - - - - - - - - Total - - 21 16,523 87 40,502 101 46,022 14 6,721

(B) Linked Business

(` ‘000)

Period2015-16 2014-15 2013-14 2012-13 2011-12

No. of claims Amount No. of

claims Amount No. of claims Amount No. of

claims Amount No. of claims Amount

30 days - - 4 1,399 28 11,073 37 13,524 12 15,614

30 days to 6 months - - - - 17 6,239 34 23,625 6 2,889

6 months to 1 year - - 2 2,013 1 600 10 4,435 - -

1 year to 5 years - - 10 4,561 17 7,616 - - 1 489

5 years and above - - - - - - - - - -

Total - - 16 7,972 63 25,528 81 41,584 19 18,992

11. The valuation of investments has been made on the basis of following:


The performance of Investments (non linked) are as follows :

Interest on fixed deposits 9

Interest on Government bonds (Net of amortisation) 5,764

Income from treasury bills and corporate Bonds, Infrastructure bonds & other securities (Net of amortisation)

2,176

Dividend Income 100

Profit/(Loss) from sale of Treasury Bills & Govt. Securities & other securities (Net) 2,223

Profit/(Loss) on sale of shares (Net) 67TOTAL13. The financial statements of Tata AIA Life Insurance Company Limited and the information disclosed in this report are the responsibility of the Company’s Management and have been reviewed and approved by the Board of Directors. Further

(a) The financial statements have been prepared in accordance with the applicable accounting standards, principles and policies, and there have been no material departures from the aforesaid;

(b) The Management has adopted accounting policies and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2016 and of the profit of the Company for the year ended March 31, 2016;

(c) The Management has taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the applicable provisions of the Insurance Act 1938 (4 of 1938) / Companies Act, 2013 (1 of 2013), for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(d) The financial statements have been prepared on a going concern basis;

(e) The Company has an Internal Audit Department which is generally commensurate with the size and nature of its business and is operating effectively.

14. Payments made to parties in which Directors are interested:

The details of such payments for the year ended March 31, 2016 are given below:

(` ‘000)Sr No.

Name of Director

Entity in which Director is interested

Amount Paid

1

Ishaat Hussain

Tata Consultancy Services Limited 318,149

Voltas Limited 2,671Tata Sons Limited 13,025Tata AIG General Insurance Company Limited 10,904

Tata Teleservices Limited 15,858Tata Capital Limited 6Tata Sky Limited 2,688

2 Janki Ballabh

Tata AIG General Insurance Company Limited 10,904

Tata Capital Financial Services Limited 8,709

Tata Capital Limited 6Tata Capital Housing Finance Limited 15,373

3

K. A. Chaukar

Tata Communications Limited 14,064Tata Teleservices Maharashtra Limited 12,289

4Gordon Timmins Watson

AIA Hongkong 4,185

5 MadhusudanKannan

Tata AIG General Insurance Company Limited 10,904

Tata Realty and Infrastructure Limited 405

6 Roopa Kudva Financial Planning Standards 456

In addition to the above, please refer Part B of Schedule 16 for transactions with Related Parties

For and on behalf of the Board of Directors

Ishaat Hussain(Chairman)

DIN 00027891

Pratip Kar(Director)

DIN 03346142

Madhusudan Kanan

(Director)DIN 02647756

Roopa Kudva(Director)

DIN 00001766

William Lisle(Director)

DIN 03024090

D. K. Mehrotra(Director)

DIN 00142711

K. A. Chaukar(Director)

DIN 00033830

S. Swaminathan(Chief

Compliance Officer

and Company Secretary)

Janki Ballabh(Director)

DIN 00011206

Simeon Preston(Director)

DIN 03517416

Naveen Tahilyani(CEO &

Managing Director)

DIN 06594510

Vishal Bandlish(Chief Financial

Officer)

Mumbai

Date: May 3rd, 2016



FORM A-BS

Name of the Insurer: TATA AIA LIFE INSURANCE COMPANY LIMITED Registration No.110 Date of Registration with IRDA: February 12, 2001

BALANCE SHEET AS AT MARCH 31, 2016

(` ‘000)

Schedule As at As at

March 31, 2016 March 31, 2015 Sources of Funds Shareholders’ Funds:Share Capital 5 1,95,35,000 1,95,35,000 Reserves and Surplus 6 - - Credit/(Debit) Fair Value Change Account (Refer Notes A.5.1 and B.6(iii) of Schedule 16) 25,592 59,480

Sub-Total 1,95,60,592 1,95,94,480 Borrowings 7 - - Policyholders' Funds:Credit/(Debit) Fair Value Change Account (Refer Notes A.5.1 and B.6(iii) of Schedule 16) 21,11,872 24,78,038

Policy Liabilities (Refer Notes A.6 and B.2 of Schedule 16) 9,03,34,007 7,64,68,482

Insurance Reserves - - Provision for Lapsed Policies-Non Unit (Refer Notes B.2 and B.24 of Schedule 16) 9,768 6,940

Provision for Linked Liabilities (Refer Note B.2 of Schedule 16) 7,53,02,287 9,69,62,629

Provision for Discontinued Policies on account of non-payment of premium (Refer Note B.30 of Schedule 16) 57,16,012 49,02,035

Provision for Discontinued Policies-Others (Refer Note B.30 of Schedule 16) 12,30,578 7,31,762

Sub-Total 17,47,04,524 18,15,49,886Funds for Future Appropriation-PAR (Refer Note A.14 of Schedule 16) 6,69,686 4,22,653

"Funds for Future Appropriation for Linked Liability (Lapsed Policies) Non Unit (Refer Notes B.2 and B.24 of Schedule 16)"

17,445 50,547

"Funds for Future Appropriation for Linked Liability (Lapsed Policies) Unit (Refer Notes B.2 and B.24 of Schedule 16)"

- 216

Total 19,49,52,247 20,16,17,782 Application of FundsInvestments:Shareholders' 8 2,00,32,356 1,73,10,424Policyholders' 8A 8,97,33,204 7,78,60,206Assets Held to Cover Linked Liabilities 8B 8,22,48,877 10,25,96,649Loans 9 25,35,802 20,95,251Fixed Assets 10 11,36,719 10,89,660Balance carried forward 19,56,86,958 20,09,52,190Balance brought forward 19,56,86,958 20,09,52,190Current Assets:Cash and Bank Balances 11 12,87,667 7,95,971Advances and Other Assets 12 46,60,594 49,30,907Sub-Total (A) 59,48,261 57,26,878


(` ‘000)

Schedule As at As at March 31, 2016 March 31, 2015

Current Liabilities 13 87,95,141 78,53,343Provisions 14 1,48,036 1,04,413Sub-Total (B) 89,43,177 79,57,756Net Current Assets (C)=(A-B) (29,94,916) (22,30,878)Miscellaneous Expenditure (To The Extent Not Written Off or Adjusted)

15 - -

Debit Balance in Profit and Loss Account (Shareholders’ Account) 22,60,205 28,96,470

Total 19,49,52,247 20,16,17,782Notes to Accounts 16

Schedules referred to above form an integral part of the Balance Sheet

In terms of our report attached

For and on behalf of For and on behalf of the Board of Directors


DIN 00027891


DIN 03346142

Madhusudan Kanan



DIN 00001766


DIN 03024090


DIN 00142711


DIN 00033830


Compliance Officer



DIN 00011206


DIN 03517416


Managing Director)

DIN 06594510


Officer)




per Vinay D. Balse

Partner







Partner




THIS

PAG

E IS

INTE

NTIO

NA

LLY

LEFT

BLA

NK



FORM A-RA

Name of the Insurer: TATA AIA LIFE INSURANCE COMPANY LIMITEDRegistration No.110 Date of Registration with IRDA: February 12, 2001

REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2016

Policyholders’ Account (Technical Account)

(` ‘000)

Schedule Year ended Year ended

March 31, 2016 March 31, 2015 Premiums earned-net (a) Premium 1 2,47,89,602 2,12,26,580

(b) Reinsurance ceded (Refer Note A.2(ii) of Schedule 16) (4,31,651) (1,62,046)

(c) Reinsurance accepted - -

Sub-Total 2,43,57,951 2,10,64,534

Income from Investments

(a)

Interest, Dividends and Rent-Gross(Net of amortisation of ` (450,707 thousand(Previous year: ` (459,940) thousand))(Refer Notes A.2(iii), A.2(iv) and B.14 of Schedule 16)

93,09,737 86,23,309

(b) Profit on sale/redemption of investments (Refer Note A.2(v) of Schedule 16) 1,49,46,086 1,94,25,638

(c) (Loss on sale/redemption of investments) (Refer Note A.2(v) of Schedule 16) (19,45,028) (4,88,940)

(d) Transfer/Gain on revaluation/change in fair value* (1,70,19,121) 1,13,19,274

Other Income

(a) Interest on over due Premium 20,784 33,758

(b) Interest on Policy loan 2,58,330 2,19,976

(c) Fees and charges (Refer Notes A.2(vi) and A.2(vii) of Schedule 16) 5,353 13,859

(d) Contribution from Shareholders' Account (Refer Note B.18 of Schedule 16) 7,57,257 12,63,799

(e) Miscellaneous Income 1,08,004 1,54,082

Sub-Total 64,41,402 4,05,64,755

TOTAL (A) 3,07,99,353 6,16,29,289

Commission 2 14,94,895 9,22,788

Operating Expenses related to Insurance Business 3 48,02,813 49,88,931

Service Tax On Premium 2,99,371 3,91,275

Provision for doubtful debts (46,020) (43,998)

Bad debts written off 53,372 43,998

Provision for Tax 4,63,928 (17,557)


(` ‘000)


March 31, 2016 March 31, 2015

Provisions (Other than taxation)

(a) For diminution in the value of investments (Net) (Refer Note B.6(i) of Schedule 16) 65,476 29,169

(b) Others - -

TOTAL (B) 71,33,835 63,14,606

Benefits Paid (Net) 4 2,89,19,524 3,37,05,134

Interim Bonuses Paid - -

Change in valuation of liability in respect of life policies

(a) Gross** (Refer Notes A.6 and B.2 of Schedule 16) 1,42,75,210 1,18,42,795

(b) Amount ceded in Reinsurance (4,44,998) (31,846)

(c) Amount accepted in Reinsurance - -

Transfer (from)/to Linked Fund (Net) (2,03,34,531) 70,33,474

TOTAL (C) 2,24,15,205 5,25,49,557

SURPLUS/(DEFICIT) [(D)=(A)-(B)-(C)] 12,50,313 27,65,126

Transfer (to) Linked Fund (Lapsed Policies) (33,318) (2,46,416)

Funds available for Appropriation (E) 12,16,995 25,18,710 * Represents the deemed realised gain as per norms specified by the Authority. ** Represents Mathematical Reserves after allocation of bonus.APPROPRIATIONS

Transfer to Shareholders' Account 10,03,280 31,74,240

Transfer to Other Reserves - -

Balance being Funds for Future Appropriation 2,13,715 (6,55,530)

TOTAL (E) 12,16,995 25,18,710

Funds for Future Appropriation

Opening Balance at the beginning of the year 4,73,416 11,28,946

Current year Appropriations 2,13,715 (6,55,530)

Closing Balance carried forward to the Balance Sheet 6,87,131 4,73,416

The total surplus shall be disclosed separately with the following details:

(a) Interim Bonuses Paid - -

(b) Allocation of Bonus to Policyholders (Refer Note B.19 of Schedule 16) 25,27,290 17,86,520

(c) Surplus shown in the Revenue Account 12,50,313 27,65,126

(d) Total Surplus [(a)+(b)+(c)] 37,77,603 45,51,646

Notes to Accounts 16


Schedules referred to above form an integral part of the Revenue Account

We hereby certify that all expenses incurred by the Company in respect of life insurance business transacted in India have been fully debited in the Revenue Account.

In terms of our report attached

For and on behalf of



DIN 00027891


DIN 03346142

Madhusudan Kanan



DIN 00001766


DIN 03024090


DIN 00142711


DIN 00033830


Compliance Officer



DIN 00011206


DIN 03517416


Managing Director)

DIN 06594510


Officer)




per Vinay D. Balse

Partner







Partner





FORM A-PL

Name of the Insurer: TATA AIA LIFE INSURANCE COMPANY LIMITEDRegistration No.110 Date of Registration with IRDA: February 12, 2001

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED MARCH 31, 2016

Shareholders’ Account (Non-technical Account)

(` ‘000)


March 31, 2016 March 31, 2015 Amounts transferred from the Policyholders’ Account (Technical Account) 10,03,280 31,74,240

Income from Investments

(a)

Interest, Dividends and Rent-Gross (Net of amortisation ` (28,224) thousand (Previous year: ` (26,328) thousand)) (Refer Notes A.2(iii), A.2(iv) and B.14 of Schedule 16)

14,59,555 12,45,231

(b) Profit on sale/redemption of investments (Refer Note A.2(v) of Schedule 16) 1,95,566 566

(c) (Loss on sale/redemption of investments) (Refer Note A.2(v) of Schedule 16) (7,968) (433)

Other Income - -

TOTAL (A) 26,50,433 44,19,604

Expenses other than those directly related to Insurance Business 3A 11,87,578 32,426

Corporate Social Responsibility expenses (Refer Note B.32 of Schedule 16) 4,474 2,590

Bad debts written off - -

Provisions (Other than taxation)

(a) For diminution in the value of investments (Net) - - (b) Provision for doubtful debts - - (c) Others - -

Contribution to the Policyholders’ Fund (Refer Note B.18 of Schedule 16) 7,57,257 12,63,799

TOTAL (B) 19,49,309 12,98,815

Profit/(Loss) before tax 7,01,124 31,20,789 Provision for Taxation (Refer Notes A.13 and B.26 of Schedule 16) 64,859 4,84,596

Profit/(Loss) after tax 6,36,265 26,36,193

APPROPRIATIONS(a) Balance at the beginning of the year (28,96,470) (55,32,663)(b) Interim dividends paid during the year - - (d) Dividend distribution on tax - - (e) Transfer to reserves/other accounts - -

Profit/(Loss) carried forward to the Balance Sheet (22,60,205) (28,96,470)EARNINGS PER SHARE (Refer Note B.11 of Schedule 16)Basic and Diluted (in `)(Face Value ` 10/- per share) 0.33 1.35

Notes to Accounts 16


Schedules referred to above form an integral part of the Profit and Loss AccountIn terms of our report attached

For and on behalf



DIN 00027891


DIN 03346142

Madhusudan Kanan



DIN 00001766


DIN 03024090


DIN 00142711


DIN 00033830


Compliance Officer



DIN 00011206


DIN 03517416


Managing Director)

DIN 06594510


Officer)




per Vinay D. Balse

Partner







Partner




THIS

PAG

E IS

INTE

NTIO

NA

LLY

LEFT

BLA

NK



Name of the Insurer: TATA AIA LIFE INSURANCE COMPANY LIMITED(Formerly known as TATA AIG LIFE INSURANCE COMPANY LIMITED)Registration No.110 Date of Registration with IRDA: February 12, 2001

RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED MARCH 31, 2016

(` ‘000)Year ended Year ended

March 31, 2016 March 31, 2015 A CASH FLOWS FROM OPERATING ACTIVITIES

Premium received from policyholders, including advance receipts 2,50,83,840 2,15,80,513

Other receipts - - Payments to the re-insurers, net of commissions and claims (88,924) (1,13,655)Payments of claims/benefits* (2,90,09,327) (3,34,57,032)Payments of commission and brokerage (12,74,638) (8,47,541)Payments of other operating expenses * * (19,94,738) 4,04,835 Preliminary and pre-operative expenses - - Deposits, advances and staff loans 14,151 31,851 Income taxes paid (Net) (4,00,011) (6,32,500)Service tax paid # (2,97,388) (4,96,596)Other payments - - Interest on over due Premium 20,784 33,758 Net cash used in Operating activities (79,46,251) (1,34,96,367)

B. CASH FLOWS FROM INVESTING ACTIVITIES Purchase of fixed assets (2,83,557) (2,74,227)Proceeds from sale of fixed assets 8,285 15,129 Purchases of investments (53,31,92,325) (79,74,69,016)Loans disbursed - - Loans against policies (85,099) (52,649)Sales of investments 53,12,60,187 80,13,91,782 Repayments received - - Rents/Interests/Dividends received 1,10,47,063 1,00,38,093 Investments in money market instruments and in liquid mutual funds (Net) - -

Expenses related to investments (15,623) (23,368)Investments in money market instruments and in liquid mutual funds (Net)* - -

Net cash flow from Investing activities 87,38,931 1,36,25,744 C. CASH FLOWS FROM FINANCING ACTIVITIES - -

D. Effect of foreign exchange rates on cash and cash equivalents, net - -

E. Net Increase/(Decrease) in cash and cash equivalents(A+B+C+D) 7,92,680 1,29,377

Cash and cash equivalents at the beginning of the year 8,95,884 7,66,507 Cash and cash equivalents at the end of the year 16,88,564 8,95,884

*Includes surrender payments.** Includes transfer from linked funds which has resulted into net inflow during the year.# Includes deposit of service tax paid under protest ` 109,644 thousand (Previous year ` 93,308).


1. The above Receipts and Payments Account has been prepared as prescribed by the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor's Report of Insurance Companies) Regulations, 2002 under the "Direct Method" laid out in Accounting Standard (AS)-3 on Cash Flow Statements as notified under the Companies Act 2013.2. Figures in brackets indicate cash outflow.3. Previous year's figures have been regrouped/restated wherever necessary.4. Cash and cash equivalents at the end of the year comprises of the following Balance Sheet amounts:

(` ‘000)As at As at

March 31, 2016 March 31, 2015

Cash (including cheques on hand, drafts and stamps) 5,60,603 2,82,583

Bank Balances(a) Deposit Accounts (aa) Short-term (Due within 12 months) - - (bb) Others - - (b) Current Accounts Ordinary Life and Pensions 7,22,704 5,09,028 (c) Total 12,83,307 7,91,611 (d) Current Accounts Unit Linked Pensions 41,386 9,346 Unit Linked Individual 3,63,871 94,927 (e) Others - - Money at Call and Short Notice(a) With Banks - - (b) With other Institutions - - TOTAL (c)+(d)+(e) 16,88,564 8,95,884


This is the Receipts and Payments Account referred to in our report of even date.

For and on behalf of

(` ‘000)As at As at

March 31, 2016 March 31, 2015 Reconciliation of Cash and cash equivalents with the Balance Sheet:Cash and Bank balances as per Schedule 11 12,87,667 7,95,971

Less: Bank balances not considered as Cash and cash equivalents as defined in AS-3 "Cash Flow Statements"

Deposits Accounts: Short-term (Original maturity more than 3 months) (4,360) (4,360)

- - Add: Money held in current accounts (included in Assets Held to Cover Linked Liablities) 4,05,257 1,04,273

Cash and cash equivalents at the end of the year 16,88,564 8,95,884




per Vinay D. Balse

Partner







Partner





DIN 00027891


DIN 03346142

Madhusudan Kanan



DIN 00001766


DIN 03024090


DIN 00142711


DIN 00033830


Compliance Officer



DIN 00011206


DIN 03517416


Managing Director)

DIN 06594510


Officer)




SCHEDULE FORMING PART OF THE REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2016

SCHEDULE-1PREMIUM*

(Refer Note A.2(i) of Schedule 16)

(` ‘000) Year ended Year ended

March 31, 2016 March 31, 2015 First Year Premiums 72,48,371 29,39,144 Renewal Premiums 1,73,81,697 1,81,06,068 Single Premiums 1,59,534 1,81,368

Total Premiums 2,47,89,602 2,12,26,580

Premiums Year ended Year ended

March 31, 2016 March 31, 2015 In India 2,47,89,602 2,12,26,580 Outside India - - Total Premiums 2,47,89,602 2,12,26,580 * Premium is net of service tax.

SCHEDULE-2COMMISSION EXPENSES

(Refer Note A.3 of Schedule 16)


March 31, 2016 March 31, 2015 Commission paid:

Direct - First Year Premiums 10,95,538 5,32,891 Renewal Premiums 4,17,275 3,98,706 Single Premiums 1,711 342

15,14,524 9,31,939 Add: Commission on Re-insurance Accepted - - Less: Commission on Re-insurance Ceded (19,629) (9,151)Net Commission 14,94,895 9,22,788 Breakup of the expenses (Gross) incurred to procure business:1 Agents 9,34,740 7,83,520 2 Brokers 89,941 49,719 3 Corporate Agencies 12,503 12,772 4 Referrals - - 5 Bancassurance 4,77,340 85,928

15,14,524 9,31,939




SCHEDULE-3OPERATING EXPENSES RELATED TO INSURANCE BUSINESS


March 31, 2016 March 31, 2015

Employees' remuneration and welfare benefits*(Refer Notes A.9, A.10, B.7(i), B.7(iii) and B.8 of Schedule 16) 18,97,163 19,06,560

Travel, conveyance and vehicle running expenses 1,40,010 1,22,642 Training expenses (including staff training) 82,818 97,559 Rent, rates and taxes (Refer Notes A.10 and B.8 of Schedule 16) 2,10,912 2,98,102 Repairs 1,42,749 1,95,176 Printing and stationery 37,523 47,203 Communication expenses 96,950 1,34,326 Legal and professional charges 5,53,447 5,30,703 Medical fees (Refer Note A.3 of Schedule 16) 44,310 24,434 Auditors' fees, expenses etc.(a) as auditor 5,207 4,000 (b) as advisor or in any other capacity, in respect of: (i) Taxation matters - - (ii) Insurance matters - - (iii) Management services; and - - (c) In any other capacity 365 455 (d) Out of Pocket expenses 431 251 Advertisement and publicity 5,28,641 5,83,234 Interest and Bank Charges 39,959 51,837 Others:(a) Business promotion expenses 2,73,919 3,97,369 (b) Direct marketing expenses 4,735 6,469 (c) Stamp duty expenses 2,89,326 26,085 (d) Information Technology related expenses 2,11,539 2,68,300 (e) Directors sitting fees (Refer Note B.7(ii) of Schedule 16) 3,268 1,510 (f) Office and miscellaneous expenses 98,022 1,39,689 (g) Exchange fluctuation loss (Net) (Refer Note A.8 of Schedule 16)Depreciation (Refer Schedule 10, Notes A.7.3, B.23 and B.33 of Schedule 16)

- -

(a) Depreciation on Assets owned by Policyholders 1,29,051 1,40,122 (b) Reimbursement of depreciation for use of Shareholders Assets 12,468 12,905

TOTAL 48,02,813 49,88,931

* includes deputed staff salary cost net of reimbursement 42,875 28,164




SCHEDULE-3AEXPENSES OTHER THAN THOSE DIRECTLY RELATED TO INSURANCE BUSINESS

(Refer Note B.10 of Schedule 16)


March 31, 2016 March 31, 2015

Employees' remuneration and welfare benefits(Refer Notes A.9, A.10, B.7(i) and B.7(iii) of Schedule 16) 5,92,370 27,082

Travel, conveyance and vehicle running expenses 37,792 - Training expenses (including staff training) 20,578 - Rent, rates and taxes (Refer Notes A.10 and B.8 of Schedule 16) 56,925 - Repairs 38,531 - Printing and stationery 10,128 - Communication expenses 26,169 - Legal and professional charges 78,445 - Medical fees (Refer Note A.3 of Schedule 16) - - Auditors' fees, expenses etc.(a) as auditor - - (b) as advisor or in any other capacity, in respect of:(i) Taxation matters - - (ii) Insurance matters - - (iii) Management services; and - - (c) In any other capacity - - (d) Out of Pocket expenses - - Advertisement and publicity 62,785 - Interest and Bank Charges 10,812 3 Others:(a) Business promotion expenses 28,282 - (b) Direct marketing expenses 418 - (c) Stamp duty expenses - - (d) Information Technology related expenses 57,099 - (e) Directors sitting fees (Refer Note B.7(ii) of Schedule 16) 882 - (f) Office and miscellaneous expenses * 1,28,435 5,341 (g) Exchange fluctuation loss (Refer Note A.8 of Schedule 16) - - Depreciation (Refer Schedule 10, Notes A.7.3, B.23 and B.33 of Schedule 16) (a) Depreciation on Assets owned by Shareholders 50,396 12,905 (b) Reimbursement of depreciation by Policyholders for use of Shareholders Assets (12,468) (12,905)

TOTAL 11,87,579 32,426 * Includes interest on unclaimed amount of policyholder’s amounting to ` 37,502 thousand (previous year ` Nil).




SCHEDULE-4BENEFITS PAID (NET)

(Refer Notes A.4 and B.5 of Schedule 16)


March 31, 2016 March 31, 2015 1. Insurance Claims: (a) Claims by Death 13,88,108 11,72,777 (b) Claims by Maturity 3,61,526 5,50,431 (c) Annuities/Pension payment 15,29,040 21,09,643 (d) Other benefits (i) Experience refund 11,00,224 10,11,654 (ii) Surrender 2,39,52,964 2,83,70,394 (iii) Claims by Health 6,755 26,730 (iv) Periodical benefits 8,11,605 5,13,801 2. (Amount ceded in reinsurance): (a) Claims by Death (2,30,698) (50,296) (b) Claims by Maturity - - (c) Annuities/Pension payment - - (d) Other benefits - - 3. Amount accepted in reinsurance: (a) Claims by Death - - (b) Claims by Maturity - - (c) Annuities/Pension payment - - (d) Other benefits - -

TOTAL 2,89,19,524 3,37,05,134 Note: Experience refund pertains to the benefits paid to the master policyholders under the terms of Group Insurance Policy contracts and policy dividend payment to participating policyholders.

(` ‘000)

Benefits Paid Year ended Year ended

March 31, 2016 March 31, 2015 In India 2,89,19,524 3,37,05,134 Outside India - - Total Benefits Paid 2,89,19,524 3,37,05,134



SCHEDULE FORMING PART OF BALANCE SHEET AS AT MARCH 31, 2016

SCHEDULE-5SHARE CAPITAL

(` ‘000) As at As at

March 31, 2016 March 31, 2015 Authorised Capital2,500,000,000 (Previous year: 2,500,000,000) Equity Shares of ` 10/- each 2,50,00,000 2,50,00,000

Issued Capital 1,953,500,000 (Previous year: 1,953,500,000) Equity Shares of ` 10/- each 1,95,35,000 1,95,35,000

Subscribed Capital 1,953,500,000 (Previous year: 1,953,500,000) Equity Shares of ` 10/- each 1,95,35,000 1,95,35,000

Called-up Capital 1,953,500,000 (Previous year: 1,953,500,000) Equity Shares of ` 10/- each 1,95,35,000 1,95,35,000

Less: Calls unpaid - - Add: Shares forfeited (Amount originally paid up) - - Less: Par value of Equity shares bought back - - Less: Preliminary expenses - - (Expenses including commission or brokerage on underwriting or subscription of shares)TOTAL 1,95,35,000 1,95,35,000 Share Capital amounting to ` 14,455,900 thousand (Previous year: ` 14,455,900 thousand) is held by Tata Sons Limited, the holding company, including joint holding with its nominees. (Refer Schedule-5A)




SCHEDULE-5APATTERN OF SHAREHOLDING

[As certified by the Management]

ShareholderAs at March 31, 2016 As at March 31, 2015

Shares (` 000) % of Holding Shares (` 000) % of Holding

Promoters

Indian - Tata Sons Limited and its Nominees 14,45,590 74 14,45,590 74

Foreign - AIA International Limited 5,07,910 26 5,07,910 26Others - - - -

TOTAL 19,53,500 100 19,53,500 100

Note on transfer of shares

Foreign Investment Promotion Board (FIPB) and IRDAI vide its letter Ref. No. F.No.016(2016)/213(2015) dated 21st March, 2016 and Ref. No. 107.1/1/F&A-Life/TALIC-Restr/220/2016 dated 31st March, 2016 respectively, have approved the transfer of shares from Tata Sons Limited to AIA International Limited leading to increase in foreign investment by AIA International Limited from 26% to 49% in Tata AIA Life Insurance Co. Ltd .

Subsequently the shares have been transferred from Tata Sons Limited to AIA International Limited on 25th April, 2016. Post transfer of shares the shareholding pattern of the company is as stated below

Shareholder No. of Equity Shares Percentage shareholdingTata Sons Limited 99,62,85,000 51%AIA International Limited 95,72,15,000 49%

TOTAL 1,95,35,00,000 100%

SCHEDULE-6RESERVES AND SURPLUS


March 31, 2016 March 31, 2015

Capital Reserve - -

Capital Redemption Reserve - -

Share Premium - -

Revaluation Reserve - -

General Reserve - - Less: Debit balance in Profit and Loss Account, if any - -

Less: Amount utilised for Buy-back - -

Catastrophe Reserve - -

Other Reserves - -

Balance of profit in Profit and Loss Account - - TOTAL - -




SCHEDULE-7BORROWINGS


March 31, 2016 March 31, 2015

Debentures/Bonds - -

Banks - -

Financial Institutions - -

Others - -

TOTAL - -




SCHEDULE-8INVESTMENTS-SHAREHOLDERS'

(Refer Notes A.5, B.6 and B.14 of Schedule 16)


March 31, 2016 March 31, 2015 LONG TERM INVESTMENTS1) Government Securities and Government guaranteed bonds including Treasury Bills* 1,19,43,671 1,00,74,495

2) Other Approved Securities 1,99,846 1,99,819 3) Other Investments: (a) Shares (aa) Equity 3,54,281 3,74,885 (bb) Preference - - (b) Mutual Funds - - (c) Derivative Instruments - - (d) Debentures/Bonds 3,33,833 5,84,809 (e) Other Securities - - (f) Subsidiaries - - (g) Investment Properties-Real Estate - - 4) Investments in Infrastructure and Social Sector 36,82,031 35,25,412 5) Other than Approved Investments (Equity) - 9,525 Sub-Total (A) 1,65,13,662 1,47,68,945 SHORT TERM INVESTMENTS1) Government Securities and Government guaranteed bonds including Treasury bills - -

2) Other Approved Securities - - 3) Other Investments: (a) Shares (aa) Equity - - (bb) Preference - - (b) Mutual Funds - - (c) Derivative Instruments - - (d) Debentures/Bonds - 2,00,000 (e) Other Securities (i) Certificate of Deposit/Commercial Paper 1,80,311 - (ii) Fixed Deposit 1,50,000 - (iii) Reverse Repo 30,39,210 23,19,547 (f) Subsidiaries - - (g) Investment Properties-Real Estate - - 4) Investments in Infrastructure and Social Sector 1,49,173 21,932 5) Other than Approved Investments - - Sub-Total (B) 35,18,694 25,41,479 TOTAL (A+B) 2,00,32,356 1,73,10,424


Notes:

(i) Aggregate amount of Company’s investments and the market value (` ‘000)

Particulars As at As at

March 31, 2016 March 31, 2015 Aggregate amount of Company’s investments other than listed equity securities & mutual fund. 1,96,78,075 1,69,26,013

Market value of above investment 2,02,52,292 1,77,67,438

(ii) Aggregate amount of Company’s investments and the market value in Housing Sector (` ‘000)

Particulars As at As at

March 31, 2016 March 31, 2015

Aggregate amount of Company’s investments in Housing Sector 6,76,447 6,86,723

Market value of above investment 6,88,266 6,98,618

(iii) Investments in subsidiaries, holding company, joint ventures and associates at cost is ` Nil thousand (Previous year: ` Nil thousand).

(iv) Investments made out of Catastrophe Reserve is ` Nil thousand (Previous year: ` Nil thousand).

(v) * - Government securities of Nil has been deposited with Reserve Bank of India to comply with the requirements prescribed under erstwhile Section 7 of the Insurance Act,1938 (Previous Year : ` 112,826 Thousand).




SCHEDULE-8AINVESTMENTS-POLICYHOLDERS’

(Refer Notes A.5, B.6 and B.14 of Schedule 16)


March 31, 2016 March 31, 2015 LONG TERM INVESTMENTS1) Government Securities and Government guaranteed bonds, including Treasury Bills 5,52,37,805 5,09,92,149

2) Other Approved Securities 34,77,961 34,29,201 3) (a) Shares (aa) Equity 1,01,47,171 58,10,676 (bb) Preference - - (b) Mutual Funds - - (c) Derivative Instruments - - (d) Debentures/Bonds 20,55,583 19,29,446 (e) Other Securities (i) Fixed Deposits - - (f) Subsidiaries - - (g) Investment Properties-Real Estate - - 4) Investment in Infrastructure and Social Sector 1,62,87,422 1,39,37,587 5) Other than Approved Investments: (i) Equity - 99,369 (ii) Others (Security receipts) - - Sub-Total (A) 8,72,05,942 7,61,98,428 SHORT TERM INVESTMENTS1) Government Securities and Government guaranteed bonds, including Treasury Bills 93,034 3,48,636

2) Other Approved Securities - - 3) (a) Shares (aa) Equity - - (bb) Preference - - (b) Mutual Funds - - (c) Derivative Instruments - - (d) Debentures/Bonds 2,50,000 1,31,029 (e) Other Securities (i) Certificate of Deposit/Commercial Paper 4,99,477 - (ii) Fixed Deposit - - (iii) Reverse Repo 10,97,330 7,21,923 (f) Subsidiaries - - (g) Investment Properties-Real Estate - - 4) Investment in Infrastructure and Social Sector 5,87,421 3,94,650 5) Other than Approved Investments - 65,540 Sub-Total (B) 25,27,262 16,61,778 TOTAL (A+B) 8,97,33,204 7,78,60,206


Notes:

(i) Aggregate amount of Company’s investments and the market value (` ‘000)

ParticularsAs at As at

March 31, 2016 March 31, 2015 Aggregate amount of Company’s investments other than listed equity securities & mutual fund 7,95,86,033 7,19,50,160

Market value of above investment 8,28,21,805 7,57,38,917

(ii) Aggregate amount of Company’s investments and the market value in Housing Sector (` ‘000)

ParticularsAs at As at

March 31, 2016 March 31, 2015

Aggregate amount of Company’s investments in Housing Sector 44,20,735 34,55,308

Market value of above investment 44,91,730 35,07,536

(iii) Investments in subsidiaries, holding company, joint ventures and associates at cost is ` Nil thousand (Previous year: ` Nil thousand).

(iv) Investments made out of Catastrophe Reserve is ` Nil thousand (Previous year: ` Nil thousand).




SCHEDULE-8BASSETS HELD TO COVER LINKED LIABILITIES


March 31, 2016 March 31, 2015 LONG TERM INVESTMENTS1) Government securities and Government guaranteed bonds including Treasury Bills 92,72,796 68,94,768

2) Other Approved Securities 2,63,870 7,88,201 3) (a) Shares(aa) Equity 5,50,60,184 7,16,02,643 (bb) Preference - 31,722 (b) Mutual Funds - - (c) Derivative Instruments - - (d) Debentures/Bonds 15,45,376 19,78,071 (e) Other Securities Fixed Deposits - - (f) Subsidiaries - - (g) Investment Properties-Real Estate - - 4) Investment in Infrastructure and Social Sector 45,54,128 71,79,221 5 Other than Approved Investments:(i) Equity 31,07,381 58,64,693 (ii) Units in Equity Fund - - (iii) Units in Income Fund - - Sub-Total (A) 7,38,03,735 9,43,39,319 SHORT TERM INVESTMENTS 1) Government securities and Government guaranteed bonds including Treasury Bills 24,55,297 96,410

2) Other Approved Securities - - 3) (a) Shares (aa) Equity - - (bb) Preference - - (b) Mutual Funds 9,00,000 7,10,000 (c) Derivative Instruments - - (d) Debentures/Bonds 1,29,173 30,040 (e) Other Securities - - (i) Certificate of Deposit/Commercial Paper 15,34,441 53,13,252 (ii) Fixed Deposit - - (iii) Reverse Repo 15,99,669 13,48,769 (f) Subsidiaries - - (g) Investment Properties-Real Estate - - 4) Investment in Infrastructure and Social Sector 92,786 1,13,200 5) Other than Approved Investments: (i) Mutual Funds 3,70,000 - (ii) Units in Liquid Fund - - Sub-Total (B) 70,81,366 76,11,671 Net Current Assets 13,63,776 6,45,659 Sub-Total (C) 13,63,776 6,45,659 TOTAL (A+B+C) 8,22,48,877 10,25,96,649




SCHEDULE- 9LOANS

(Refer Note A.15 and B.20 of Schedule 16)


March 31, 2016 March 31, 2015 SECURITY-WISE CLASSIFICATIONSecured:(a) On Mortgage of Property (aa) In India - - (bb) Outside India - - (b) On Shares, Bonds, Government Securities, etc. - -

(c) Loan against policies 25,35,802 20,95,251 (d) Others - - Unsecured - - TOTAL 25,35,802 20,95,251 BORROWER-WISE CLASSIFICATION(a) Central and State Governments - - (b) Banks and Financial Institutions - - (c) Subsidiaries - - (d) Companies - - (e) Loans against policies 25,35,802 20,95,251 (f) Others - - TOTAL 25,35,802 20,95,251 PERFORMANCE-WISE CLASSIFICATION(a) Loans classified as Standard (aa) In India 25,35,802 20,95,251 (bb) Outside India - - (b) Non-standard loans, less provisions (aa) In India - - (bb) Outside India - -

TOTAL 25,35,802 20,95,251 MATURITY-WISE CLASSIFICATION(a) Short-Term - - (b) Long-Term 25,35,802 20,95,251

TOTAL 25,35,802 20,95,251


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SCHEDULE-11CASH AND BANK BALANCES


March 31, 2016 March 31, 2015 1. Cash (including cheques, drafts and stamps)* 5,60,603 2,82,583 2. Bank Balances(a) Deposit Accounts (aa) Short-term (Due within 12 months of the date of Balance Sheet) 4,360 4,360 (bb) Others - - (b) Current Accounts** 7,22,704 5,09,028 (c) Others - - 3. Money at Call and Short Notice(a) With Banks - - (b) With other Institutions - - 4. Others - -

TOTAL 12,87,667 7,95,971

Balances with non-scheduled banks included in 2 and 3 above - -

CASH AND BANK BALANCES As at As at

March 31, 2016 March 31, 2015 In India 12,87,667 7,95,971 Outside India - -

Total 12,87,667 7,95,971

* Cheques and Drafts in hand ` 457,105 thousand ; (Previous year: ` 193,578 thousand).** Includes ` 153,146 thousand; (Previous year: ` 76,717 thousand) in respect of Unit Linked Policies.




SCHEDULE-12ADVANCES AND OTHER ASSETS


March 31, 2016 March 31, 2015 ADVANCESReserve deposits with ceding companies - - Application money for investments - - Prepayments 62,600 62,795 Advances to Directors/Officers - - Advance tax paid and taxes deducted at source*(Net of provision for taxation) (Refer Note B.1 of Schedule 16) 2,67,561 3,80,001

Others:

(a) Advances to suppliers and other recoverables (includes capital advances of ` 15,730 thousand (Previous year: ` 20,066 thousand) 3,16,645 2,08,864

Less: Provision for doubtful advances (22,742) (21,609)(b) Due from employees 5,992 2,722 Less: Provision for doubtful advances - - (c) Investment Sold awaiting settlement 1,04,941 3,81,312

TOTAL (A) 7,34,997 10,14,085 OTHER ASSETSIncome accrued on investments 25,52,191 22,80,355 Outstanding Premiums 10,41,257 8,27,175 Agents' Balances 26,660 75,442 Less: Provision for doubtful advances (24,771) (72,064)Foreign Agencies Balances - - Due from subsidaries/holding Company - - Due from other entities carrying on insurance business (including reinsurers) 1,02,309 55,818

Deposit with Reserve Bank of India [Pursuant to section 7 of Insurance Act,1938] - -

Others:(a) Security Deposits 2,16,456 2,33,877 Less: Provision for doubtful advances (23,639) (19,554)(b) Other assets 28,552 34,667 Less: Provision for other doubtul assets (16,817) (20,762)(c) Insurance Claim Receivable - - (d) Due from Tata AIG General Insurance Company Limited 10,245 7,994 (e) Balance due from AIA International Limited 8,862 19,386 (f) Service tax unutilised credit (Refer Note A.12 of Schedule 16) 4,292 22,564



March 31, 2016 March 31, 2015 (g) Due from Unit Linked Fund-Pensions - 4,71,924 (h) Due from Unit Linked Fund - - TOTAL (B) 39,25,597 39,16,822

TOTAL (A+B) 46,60,594 49,30,907

* includes deposit of service tax under protest of ` 109,644 thousand; (Previous year: ` 93,308 thousand) and provision for tax of ` 995,826 thousand; (Previous year: ` 467,039 thousand) (Refer Note B.26(ii) of Schedule 16).




SCHEDULE-13CURRENT LIABILITIES


March 31, 2016 March 31, 2015 Agents’ Balances 4,96,978 3,19,091 Due to subsidiaries/holding company 4,994 9,078 Balance due to other insurance companies 1,91,340 1,07,394 Deposits held on re-insurance ceded - - Premiums received in advance* 1,27,606 1,83,935 Unallocated premium** 2,48,281 98,745 Sundry creditors 25,02,742 25,24,553 Claims Outstanding (Refer Note B.5 of Schedule 16) 14,75,109 13,88,264 Annuities Due 6,033 7,665 Due to Officers/Directors - - Others:(a) Due commission 56,298 43,081 (b) Taxes payable*** 78,529 19,674 (c) Service tax liability (Refer Note A.12 of Schedule 16) - - (d) Provident fund dues payable 5,928 4,768 (e) Premium refund payable 13,607 9,102 (f) Due to employees 475 868 (g) Due to Unit Linked Fund 2,45,694 2,68,422 (h) Due to Unit Linked Fund-Pensions 75,824 - (i) Other Linked Liabilities 35,027 21,872 (j) Unclaimed amount of Policyholders (Refer Note B.29 of Schedule 16) 23,84,059 18,38,814 (k)Temporary Overdraft (as per books only) 8,46,612 8,49,255 (l)Investments purchased - to be settled 5 1,58,762

TOTAL 87,95,141 78,53,343

* includes Unit Link Premium received in advance aggregating ` 38,500 thousand (Previous year:` 61,799 thousand). ** includes Unallocated Premium aggregating ` 62,203 thousand (Previous year: ` 16,789 thousand) of Unit Link Policies. *** represents Withholding Tax payable.




SCHEDULE-14PROVISIONS

(Refer Note A.12 of Schedule 16)


March 31, 2016 March 31, 2015 For taxation (less payments and taxes deducted at source) - - For proposed dividends - - For dividend distribution tax - - Others:For Employee Benefit 1,48,036 1,04,413

TOTAL 1,48,036 1,04,413

Current Year (` ‘000)

As at April 1, 2015 During the year As At March 31, 2016Additions Used

For Employee Benefit 1,04,413 1,08,478 64,855 1,48,036 1,04,413 1,08,478 64,855 1,48,036

Previous Year (` ‘000)

As at April 1, 2015 During the year As At March 31, 2016Additions Used

For Employee Benefit 58,774 66,731 21,092 1,04,413 58,774 66,731 21,092 1,04,413




SCHEDULE-15MISCELLANEOUS EXPENDITURE

(To The Extent Not Written Off or Adjusted)


March 31, 2016 March 31, 2015

Discount Allowed on issue of shares/debentures - -

Others - -

TOTAL - -


1. (a) Basis of Preparation of Financial Statements

These financial statements have been prepared under the historical cost convention, on an accrual basis and in accordance with the applicable provisions of the Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002, the Insurance Act, 1938, as amended by The Insurance Laws (Amendment) Act, 2015, the Insurance Regulatory and Development Authority Act, 1999, circulars/notifications issued by The Insurance Regulatory and Development Authority of India(IRDAI) from time to time (including Circular No.IRDAI/F&A/CIR/FA/059/03/2015 dated March 31, 2015), the Accounting Standards (AS) specified under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014, to the extent applicable and the relevant provisions of the Companies Act, 2013, as applicable.

Accounting policies applied have been consistent with previous year except where different treatment is required as per new pronouncements made by the regulatory authorities. The management evaluates, all recently issued or revised accounting pronouncements, on an ongoing basis.

(b) Use of estimates

The preparation of financial statements in conformity with Generally Accepted Accounting Principles (GAAP) requires the management to make estimates and assumptions that affect the reported amounts of income and expenses for the year, reported balances of assets and liabilities and disclosure relating to contingent liabilities as of the date of the financial statements. The estimates and assumptions used in the financial statements are based upon the management’s evaluation of the relevant facts and circumstances, as of the date of the financial statements. Actual results may differ from the estimates and assumptions used in preparing the accompanying financial statements.

2. Revenue Recognition

(i) Premium income is recognised when due, except Top-up premium, which is recognised on receipt and premium on lapsed contracts, which is recognized when such policies are reinstated.

(ii) Reinsurance premium ceded is accounted at the time of recognition of the premium income, in accordance with the treaty with the reinsurer.

(iii) Interest income, except interest on overdue premium, is recognised on accrual basis; interest on

overdue premium is recognised on receipt basis.

(iv) Dividend is recognised on the “ex-dividend” date in case of listed equity shares and in case of unlisted equity shares when right to receive dividend is established.

(v) In the case of non-linked business, profit or loss on sale of debt securities is recognised as the difference between the sale price and the amortised cost in the books of the Company, as on the date of the sale. For linked business, the difference between the sale price and the acquisition cost of debt security is recognised as profit or loss as on the date of sale.

(vi) In the case of unit linked business, Fund Management Fees, Administration Fees and Cost of Insurance are recognized on accrual basis, in accordance with the terms of the policy.

(vii) Fund administration and Investment Management fees of Group Pension Funds (linked and non-linked) are recognised on accrual basis, in accordance with the terms of the agreement.

3. Acquisition costs

Policy acquisition costs such as commission, medical fees, etc., which are costs that are primarily related to and dependent upon the acquisition/renewal of life insurance contracts, are expensed when incurred.

4. Claims/Benefits

The total cost of claims, comprising of liability payable under a policy and estimated settlement costs, where applicable, are accrued on intimation of such claims. Appropriate provisions are considered for claims repudiated by the company but under appeal with legal authorities. Reinsurance recoveries are accounted for in the same period to which the claims relate. Survival and maturity benefits are accounted when due for payment.

5. Investments

Investments maturing within 12 months from the Balance Sheet date and investments made with the specific intention to dispose them within twelve months from the Balance Sheet date are classified as “Short Term” investments. Investments other than short term are classified as “Long Term” investments.

Investments are recorded at cost on the date of purchase, which includes brokerage, stamp duty, taxes, etc, if any, but excludes pre-acquisition interest i.e. from the previous coupon date to the transaction settlement date, if any, on purchase.

A. Significant Accounting Policies

NOTES ANNEXED TO AND FORMING PART OF THE BALANCE SHEET AS AT MARCH 31, 2016 AND THE REVENUE ACCOUNT AND THE PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED MARCH 31, 2016


Listed Equity Shares and Preference Shares are valued at fair value, being the last quoted closing price on the National Stock Exchange (NSE) of India or the last quoted closing price on the Bombay Stock Exchange Limited (BSE), if the equity shares are not listed on the NSE. Any unrealised gain/loss arising due to changes in the fair value is attributed to the Unit holders and is recognized in the Revenue Account of the Fund.

Unlisted Equity Shares and Preference Shares and equity shares awaiting listing are stated at historical cost subject to provision for diminution, if any, in the value of such investment determined separately for each individual investment.

Money market instruments are valued at historical cost, subject to amortisation of premium or accretion of discount over the period of maturity/holding on a straight-line basis.

Mutual fund units are valued at the previous day’s net asset values of the respective funds and any unrealised gain/loss arising due to changes in the fair value is attributed to the Unit holders and is recognized in the Revenue Account of the Fund.

Instruments bought on ‘repo’ basis are valued at cost.

Investments in Security receipts will be valued at the last net asset value declared by the Company.

6. Liability for Life Policies (Policy Liabilities)

The estimation of liability against life policies is determined by the Appointed Actuary, pursuant to the annual investigation of the life insurance business of the Company.

The liability is calculated in a manner that, together with estimated future premium payments and investment income, the Company can meet all estimated future claims, policyholders’ reasonable expectations (including bonus entitlements to policyholders) and related expenses. The liability towards linked policy is determined on the basis of unit based liability, representing the fund value of policies and non unit based liability, which is calculated in a similar manner as other non-linked liabilities.

7. Fixed Assets

7.1 Tangible Assets

Fixed Assets are stated at cost, less accumulated depreciation. Cost includes the purchase price, installation costs, import duties, non-refundable taxes as applicable and other costs to bring the asset to its present location and working condition for its intended use.

7.2 Intangible Assets

Computer Software and LicensesComputer Software and Licenses, acquired for internal

5.1 Non-Linked Business Valuations - Shareholders’ Investments and Non-Linked Policyholders’ Investments:

Debt securities, including Government securities are considered as “held to maturity” and stated at amortised cost. The premium or discount, which is paid or availed, as at the time of purchase of investment, as the case may be, is amortised over the remaining period to maturity on a straight-line basis. In the case of diminution other than temporary in nature in the market value of the Debt securities other than Government securities, as on the Balance Sheet date, the amount of such diminution is recognized as an expense in the Policyholders’ Revenue Account (Technical Account)/Shareholders’ Account (Non-technical), as the case may be.

Listed Equity Shares and Preference Shares are valued and stated at fair value, being the last quoted closing price on the National Stock Exchange (NSE) of India or the last quoted closing price on the Bombay Stock Exchange Limited (BSE), if the equity shares are not listed on the NSE. Unrealised gains/losses arising due to changes in the fair value are recognised under the head “Fair Value Change Account” in the Balance Sheet. Impairment losses, if any, are recognised in the Policyholders’ Revenue Account (Technical Account)/ Shareholders’ Account (Non-technical), as the case may be.

Unlisted Equity Shares and Preference Shares and equity shares awaiting listing are stated at historical cost subject to provision for diminution, if any, in the value of such investment determined separately for each material individual investment.

Money market instruments are valued at historical cost, subject to amortisation of premium or accretion of discount over the period of maturity/holding on a straight-line basis.

Instruments bought on ‘repo’ basis are valued at cost.

Investments in Security receipt are valued at cost less diminution in value, if any.

5.2 Linked Business - Valuations

Debt securities other than Government securities with a residual maturity over 182 days are valued on a yield to maturity basis, by using spreads over the benchmark rate (based on the matrix released by the Credit Rating Information Services of India Ltd. (‘CRISIL’) on daily basis) to arrive at the yield for pricing the Security.

Debt securities other than Government securities with a residual maturity up to 182 days are valued at last valuation price plus the difference between the redemption value and last valuation price, spread uniformly over the remaining maturity period of the instrument.

Central and State Government securities are valued as per the prices released by CRISIL.


use, are recognised as assets and are stated at cost less accumulated amortisation. Cost includes cost of acquisition, import duties, taxes and any expenditure directly attributable to the making of the software ready for its use.

7.3 Depreciation and amortisation

Depreciation/amortization on fixed assets is provided on the Straight Line Method on a pro rata basis over the useful life of the assets. Consequent to the provisions of Schedule II to the Companies Act, 2013, becoming applicable, the Company has assessed the useful lives of its assets such that the assessed useful life equals to or is less than the useful life specified in Part C of that Schedule. The estimation has been based on the long term asset replacement experience of the Company.

The useful life of the assets used are as under:

Nature of asset Existing useful life(in years)

Useful lives as per Schedule II to the

Companies Act, 2013 (in years)

Buildings 60 60

Furniture and fittings 5 10

Office Equipment 5 5

Information Technology Equipment (servers and networks)

3 6

Information Technology Equipment (other than servers and networks)

3 3

Vehicles 5 8

All type of assets with acquisition cost less than `. 5000

1

Depreciation of Intangibles-Computer Software is charged over the period of 3 years and Amortization of Leasehold Improvements is charged over a period of 3 years generally presumed to be the primary lease period.

Depreciation/amortization on additions to fixed assets is charged for the entire month in which the assets are capitalized. Depreciation/amortization on fixed assets sold/scrapped is charged up to a month prior to the month of sale/scrapping.

7.4 Impairment

Management periodically assesses, using external and internal sources, whether there is an indication that an asset may be impaired. Impairment occurs where the carrying value exceeds the present value of future cash flows expected to arise from the continuing use of the asset and its eventual disposal. The impairment loss to be expensed is determined as the excess of the

carrying amount over the higher of the asset’s net sales price or present value, as determined above.

Impairment of Equity

Impairment of equity securities is determined as a difference between acquisition cost (weighted aver-age cost) of the equity and the expected recoverable amount on a fair value basis, as laid down in invest-ment policy. Impairment loss, if any is recognised in profit & loss account / revenue account

8. Foreign Currency Transactions

Transactions denominated in foreign currencies are re-corded at the exchange rate prevailing on the date of the transaction. Monetary assets and liabilities in for-eign currency, as at the Balance Sheet date, are trans-lated at the year end exchange rates.

Exchange differences, either on settlement or on translation are recognized in the Policyholders’ Revenue Account (Technical Account) or Shareholders’ Account (Non- technical Account), as may be applicable.

9. Employee Benefits

Defined Contribution Plan

Retirement benefits in the nature of Provident Fund and Superannuation, which are defined contribution schemes, are charged to the Policyholders’ Revenue Account (Technical Account) and Shareholders’ Account (Non-technical Account) of the year when the contributions accrue.

Defined Benefit Plan

The liability for Gratuity, a defined benefit obligation, is accrued and provided for on the basis of an actuarial valuation carried out as at the Balance Sheet date. Provision relating to retention bonus is made on the basis of an actuarial valuation carried out by an independent actuary as at the Balance Sheet date.

Provision for short term compensated absences is made on arithmetical basis.

10. Leases

Leases, where the lessor effectively retains substantially all the risks and rewards of ownership over the lease term, are classified as Operating Leases. Operating lease rentals are recognized as an expense over the lease period, on a straight line basis.

11. Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognised in the accounts in respect of present legal obligations arising out of past event and it is probable that an outflow of resources will be required to settle the obligation, and the amount of which can be reliably estimated.

Company has started providing for probable obligations in respect of claims repudiated for the year ended March 31, 2016, ` 1,00,362 (Previous year ` 80,104 thousand).


14. Funds for Future Appropriations

The balance in this account represents funds, the allocation of which, either to participating policyholders or to shareholders, has not been determined at the Balance Sheet date. Transfer to and from the fund reflects the excess/deficiency of income over expenses and appropriations in each accounting period, arising in the policyholders’ fund.

15. Loans

Loans are valued at the aggregate of book values (net of repayments/lapsation) plus capitalized interest and are subject to impairment, if any.

B. Notes to Accounts

1. Contingent Liabilities

Note: Future cash outflows in respect of 5 above are determinable only on receipt of judgments/decisions pending with various forums/authorities except for ` 2,398,525 thousand (Previous year: ` 2,231,010 thousand) where the Company has succeeded in appeal, but the Tax Department is pursuing appeal at higher level towards the tax demand. The Company has deposited ` 230,876 thousand (Previous year: ` 214,537 thousand) with the Income tax and service tax authorities pending disposal of appeal filed by the Company which is disclosed under Advance tax paid and taxes deducted at source in Schedule 12.

2. Actuarial Assumptions

The actuarial assumptions as certified by the Appointed Actuary are as under:

Contingent liabilities are disclosed in respect of

(i) possible obligations arising out of past events, but their existence or otherwise would be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the company or

(ii) present obligation that arises from past events but is not recognized because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.

Contingent assets are neither accounted nor disclosed.

12. Service Tax

Service tax liability on Life Insurance premium (Life Insurance Service) and Investment Management charges of Unit Linked business (Management of investment under ULIP service) is being discharged by utilizing Cenvat credit available in respect of service tax paid under Insurance Auxiliary Services and other eligible services.

13. Taxation

i) Provision for Current Tax: Provision for Current Tax is made in accordance with the provisions of Section 44 of the Income Tax Act, 1961 read with Rules contained in the First Schedule and other relevant provisions of the Income Tax Act, 1961 as applicable to a company carrying on life insurance business.

ii) Provision for Deferred Tax: In accordance with the provisions of the Accounting Standard (AS) 22, “Accounting for Taxes on Income”, with respect to the carry forward of losses under the Income Tax regulations, the deferred tax asset is recognised only to the extent that there is a virtual certainty supported by convincing evidence that future taxable income will be available against which the deferred tax asset can be realised.

(` ‘000)

Sr. No. Particulars Current

YearPrevious

year

1 Partly paid-up investments - -

2 Claims, other than against policies, not acknowledged as debts by the Company 16,058 26,727

3 Underwriting commitments outstanding (in respect of shares and securities) - -

4 Guarantees given by or on behalf of the Company 5,960 5,910

5 Statutory demands/liabilities in dispute, not provided for (Refer Note below) 89,76,469 80,12,655

6 Reinsurance obligations to the extent not provided for in accounts - -

7 Claims with Ombudsman 10,387 17,529

8 Policy related claims under litigation in different consumer forums:

A Claims for customer service issues 41,232 16,333

B Claims against repudiation 87,069 70,778

TOTAL 91,37,175 81,49,932


Ordinary Life & Pension Insurance

The actuarial assumptions used to value the policy liabilities vary, depending on the type of contract / business being valued. Ordinary Individual Life business is valued by the prescribed Gross Premium Valuation (GPV) Method. The assumptions used for the valuation are required to reflect the expected future experience in respect of mortality/morbidity, interest, commission and expenses, as well as lapsation, and incorporate a margin for prudence. The mortality assumption ranges from 25.20% to 240% of the prescribed mortality table i.e. the Indian Assured Lives Mortality (2006-08) (Modified ultimate) table, depending on type of product. Morbidity rates range from 237.5% to 656.25% of the prescribed morbidity table CIBT93. The valuation interest rate used is 5.75% for non-participating products, 6.25% for participating products and 7.57% for the immediate annuity product. Expense assumptions are expressed in two ways, expenses related to premiums (ranging from 1.64% to 1.81%) and per policy expenses (ranging from ` 277.35 to ` 371.04). For micro-insurance plans, premium related expense assumption is 1.34% and per policy expenses assumption varies from ` 34.94 to ` 46.74. The variations are based on the type of policy, with policies that are more costly to administer, having higher assumptions. Further, to allow for inflation, per policy expenses are assumed to increase each year at a rate of 5.25% per annum over the term of the policy. Commissions are assumed as per the commission schedule for each product. The assumed lapse rates vary by policy duration, with the first year lapse rate for the regular premium products being the highest (1.56% to 49%) decreasing to an ultimate rate ranging from 0% to 8%. The assumed lapsed rate for single pay policies ranges from 0% to 1.25% for all durations. The mortality assumption for immediate annuity product is 72.80% of LIC 96-98 Annuitant table and future expected improvement of 1% p.a. Claim related expenses are assumed to be in the range of ` 12.21 per 1000 claims outgo.

Group Life Insurance

Group insurance is written on one year term basis only. Therefore, the policy liabilities in respect of Group Life insurance are valued using the UPR approach. Most credit life insurance policies are also one year term policies. Therefore, these liabilities are also valued using the UPR approach. Single premium group credit life policies are reserved based upon the proportion of cover outstanding. These methods rely on pricing assumptions by definition.

Health Insurance

For Health Insurance business, UPR method has been adopted for renewable contracts and GPV method for other contracts. Mortality rates used are in range of 72% to 234% of the prescribed mortality table i.e. the Indian Assured Lives Mortality (2006-08) (Modified

ultimate) table. The morbidity rate used is 187.5% of the prescribed morbidity table CIBT93 for one product while it is taken at 125% of the pricing basis for the other products. The valuation interest rate used is 5.75%. Expense assumptions are expressed in two ways, expenses related to premiums being 1.64%, and per policy expenses ranging from ` 277.35 to ` 371.04. The per policy expenses are assumed to increase each year at a rate of 5.25% per annum. Commissions are assumed as per the commission schedule for each product. The assumed lapse rates vary by policy duration, with the first year lapse rate being in range of 33.25% to 37.75% decreasing to an ultimate rate ranging from 0.625% to 8%. Claim related expenses are assumed to be ` 12.21 per 1000 claims outgo.

Unit linked

For Unit Linked Business, the total reserve is the sum of two components i.e. unit reserve and non-unit reserve. Unit reserves are set, based on the number of Units and the Unit Prices as at March 31 2016. The non-unit reserves are set using a prospective method, that requires projection of future cash flows, that allow for premiums, death benefits (over and above the value of units), fund management and other charges. The mortality rates range from 54% to 102% of the prescribed mortality table i.e. the Indian Assured Lives Mortality (2006-08) (Modified ultimate) table, depending on type of product. The morbidity rates used are 187.5% of the prescribed morbidity table CIBT93 for some products and 125% of the pricing basis for others where applicable. Expense assumptions are expressed in two ways, expenses related to premiums being 2.29% for all products which is premium related expenses and per policy expenses ranging from ` 296.50 to ` 396.65. The assumed lapse rates vary by policy duration, with the lapse rate for the first 3 years ranging from 2.5% to 32%, the 4th to 6th year lapse rate ranging from 0.75% to 32% and an ultimate rate that ranges from 1.25% to 16% depending on product. The assumed lapsed rate for single pay policies ranges from 0% to 16% for all durations. Charges assumed are as per the contract provisions. The unit-growth rate assumed for the projections depend on the type of unit fund/s chosen for each policy. Claim related expenses are assumed to be ranging from ` 12.21 per 1000 claims outgo to ` 960 per claim.

Rider Benefits

The actuarial assumptions used to value the rider liabilities vary depending on the type of rider being valued. Riders are valued at higher of GPV and Unearned Premium Reserve (UPR). For GPV the details are given below.

The valuation interest rate used is 5.75%.The mortality assumption for a rider follows that of base plan, which ranges from 46.80% to 216% of the prescribed mortality table i.e. the Indian Assured Lives Mortality


(2006-08) (Modified ultimate) table, depending on type of product. The morbidity rate ranges from 77.5% to 437.5% of the prescribed morbidity table CIBT93.Premium related expenses ranges from 18% to 24% and annuity payment expenses range from ` 192 to ` 2166. Further, to allow for inflation, per policy expenses are assumed to increase each year at a rate of 5.25% per annum over the term of the policy. Lapse rates for riders follow the same as those of base plans. Claim related expenses are assumed to be ` 12.21 per 1000 claims outgo.

Previous Year

The actuarial assumptions used to value the policy liabilities vary, depending on the type of contract / business being valued. Ordinary Individual Life business is valued by the prescribed Gross Premium Valuation (GPV) Method. The assumptions used for the valuation are required to reflect the expected future experience in respect of mortality/morbidity, interest, commission and expenses, as well as lapsation, and incorporate a margin for prudence. The mortality assumption ranges from 29.76% to 240% of the prescribed mortality table i.e. the Indian Assured Lives Mortality (2006-08) (Modified ultimate) table, depending on type of product. Morbidity rates range from 237.5% to 656.25% of the prescribed morbidity table CIBT93. The valuation interest rate used is 5.75% for non-participating products, 6.25% for participating products and 7.59% for the immediate annuity product. Expense assumptions are expressed in two ways, expenses related to premiums (ranging from 1.43% to 1.91%) and per policy expenses (ranging from ` 218.53 to ` 586.80). The variations are based on the type of policy, with policies that are more costly to administer, having higher assumptions. Further, to allow for inflation, per policy expenses are assumed to increase each year at a rate of 5.25% per annum over the term of the policy. Commissions are assumed as per the commission schedule for each product. The assumed lapse rates varies by policy duration, with the first year lapse rate for regular premium paying products being the highest (6% to 49%) decreasing to an ultimate ranging from 0% to 8%. The assumed lapsed rate for single pay policies ranges from 0% to 1.25% for all durations. The mortality assumption for immediate annuity product is 80% of LIC 96-98 Annuitant table. Claim related expenses are assumed to be in the range of ` 13.636 to ` 13.80 per 1000 claims outgo.

Group Life Insurance

Group insurance is written on one year term basis only. Therefore, the policy liabilities in respect of Group Life insurance are valued using the Unearned Premium Reserve (UPR) approach. Most credit life insurance policies are also one year term policies. Therefore, these liabilities are also valued using the UPR approach. Single premium group credit life policies are reserved based upon the proportion of cover

outstanding. These methods rely on pricing assumptions by definition.

Health Insurance

For Health Insurance business, UPR method has been adopted for renewable contracts and GPV method for other contracts. Mortality rates used are in range of 180% to 228% of the prescribed mortality table i.e. the Indian Assured Lives Mortality (2006-08) (Modified ultimate) table. The morbidity rate used is 187.5% of the prescribed morbidity table CIBT93 for one product while it is taken at 125% of the pricing basis for another product. The valuation interest rate used is 5.75%. Expense assumptions are expressed in two ways, expenses related to premiums being 1.56%, and per policy expenses from ` 266.12 to ` 335.80. The per policy expenses are assumed to increase each year at a rate of 5.25% per annum. Commissions are assumed as per the commission schedule for each product. The assumed lapse rates vary by policy duration, with the first year lapse rate being in range of 33.25% to 37.75% decreasing to an ultimate rate of 0%. Claim related expenses are assumed to be ` 13.636 per 1000 claims outgo.

Unit linked

For Unit Linked Business, the total reserve is the sum of two components i.e. unit reserve and non-unit reserve. Unit reserves are set, based on the number of Units and the Unit Prices as at March 31, 2015. The non-unit reserves are set using a prospective method, that requires projection of future cash flows, that allow for premiums, death benefits (over and above the value of units), fund management and other charges. The mortality rates range from 54% to 120% of the prescribed mortality table i.e. the Indian Assured Lives Mortality (2006-08) (Modified ultimate) table, depending on type of product. The morbidity rates used are 187.5% of the prescribed morbidity table CIBT93 for some products and 125% of the pricing basis for others where applicable. Expense assumptions are expressed in two ways, expenses related to premiums being 1.524% to 2.20% for all products and per policy expenses ranging from ` 320.58 to ` 493.20. The assumed lapse rates vary by policy duration, with the lapse rate for the first 3 years ranging from 0% to 31%, the 4th to 6th year lapse rate ranging from 0% to 32.25% and an ultimate rate that ranges from 0% to 12% depending on product. Charges assumed are as per the contract provisions. The unit-growth rate assumed for the projections depend on the type of unit fund/s chosen for each policy. Claim related expenses are assumed to be ranging from ` 13.636 per 1000 claims outgo to ` 960 per claim.

Rider BenefitsThe actuarial assumptions used to value the rider liabilities vary depending on the type of rider being valued. Riders are valued at higher of GPV and


Unearned Premium Reserve (UPR). For GPV the details are given below.

The valuation interest rate used is 5.75%.The mortality assumption for a rider follows that of base plan, which ranges from 37.44% to 240% of the prescribed mortality table i.e. the Indian Assured Lives Mortality (2006-08) (Modified ultimate) table, depending on type of product. The morbidity rate ranges from 77.5% to 437.5% of the prescribed morbidity table CIBT93.Premium related expenses is 24% and annuity payment expenses range from ` 192 to `. 2166. Further, to allow for inflation, per policy expenses are assumed to increase each year at a rate of 5.25% per annum over the term of the policy. Lapse rates for riders follow the same as those of base plans. Claim related expenses are assumed to be ` 13.636 per 1000 claims outgo.

3. Encumbrances on Assets

There were no encumbrances on the assets of the Company as at year end and at the previous year end.

(` ‘000)

Current Year End Previous Year EndNon Linked Life Business• Purchases where deliveries are pending - 201,262• Sales where payments are due 1,04,941 381,317Unit Linked Life Business• Purchases where deliveries are pending 39,814 453,706• Sales where payments are due 2,61,267 550,561Unit Linked Pension Business (Individual & Group)• Purchases where deliveries are pending 26,207 271,738• Sales where payments are due 9,616 50,790Non Linked Pension Business• Purchases where deliveries are pending - -• Sales where payments are due - -

(iii) The historical cost of those Investments whose reported value is based on Fair value are as follows:(` ‘000)

Fair value Historical costCurrent

YearPrevious

YearCurrent

YearPrevious

YearNon Linked Investments• Equity shares under “Investments – Shareholders” 3,54,281 3,84,410 3,28,688 3,24,930

• Equity shares under “Investments– Policyholders” 1,01,47,171 59,10,045 80,35,299 34,32,006

Linked Investments• Investment made under “Assets held to cover linked Liability” (i) Life Linked 7,25,55,576 9,19,26,904 5,78,56,743 6,10,90,819 (ii) Pension Linked (Individual & Group) 83,29,524 1,00,24,086 74,18,772 81,11,807

4. Capital Commitments

Estimated amount of contracts remaining to be executed on capital account for fixed assets, to the extent not provided for, `103,206 thousand (net of advances of ̀ 15,730 thousand) Previous year: ̀ 53,835 thousand (net of advances of ` 20,066 thousand)

5. Claims

As at March 31, 2016, there were 29 claims amounting to ` 18,988 thousand (Previous Year: 13 claims amounting to ` 5,382 thousand) settled and remaining unpaid for a period of more than six months. These claims remain unpaid awaiting receipt of duly executed discharge documents from the claimants. All claims are to be paid to claimants in India.

6. Investments

(i) All the investments of the company are performing investments except investments in two Security receipts of ARCIL Limited of cost ` 126,788 thousand (Previous Year: ̀ 126,853 thousand) on which provision for diminution in value made as of March 31,2016 is ` 126,788 thousand (Previous Year: ` 61,312 thousand)

(ii) Value of unsettled contracts in relation to investments:


(iv) As per The Insurance Laws (Amendment) Act, 2015 and Circular no. IRDAI/F&I/CIR/INV/093/04/2015, Section 7 has been abolished and the insurers can withdraw the lien marked securities, held in the CGSL Account. Accordingly as at March 31, 2016, the Company has Government Securities amounting to Nil (Previous Year: ̀ 112,826 thousand) [Market Value: Nil, (Previous Year: ` 113,531 thousand)] which had been earmarked for Deposits u/s Section 7 of the Insurance Act 1938.

(v) Market value of long term and short term investments, other than equity, mentioned as part of notes in schedule 8 and 8A are based on the CRISIL Gilt Valuer and the CRISIL Bond Valuer.

7. Managerial Remuneration

(i) Employees’ Remuneration and Welfare Benefits include remuneration to the Managing Director as follows:

(` ‘000)

Particulars Current Year

Previous Year

Salary, perquisites and Bonus 76,264 14,189

Contribution to Provident and Superannuation Fund 1,260 298

Total 77,524 14,487

Note:

The above remuneration is in accordance with the requirements of Section 34A of the Insurance Act, 1938 and as approved by IRDAI. An amount of ` 62,524

thousand (Previous year: ` 10,994 thousand) which is in excess of IRDAI approval has been charged to Shareholders’ Profit and Loss Account.

(ii) Sitting Fees paid to Directors ` 4,150 thousand (Previous year: ` 1,510 thousand).

(iii) Provision/contribution towards liability for employee retirement/post retirement benefits, which are based on actuarial valuation done on an overall company basis, are excluded from the above, as separate numbers are not available.

8. Future obligations in respect of non-cancellable operating lease

Future minimum lease payments under non-cancellable operating leases are as follows:

(` ‘000)


Previous Year

Upto 1 year 21,995 12,920

Later than 1 year and upto 5 years 8,561 10,718

Later than 5 years - -

The significant operating lease arrangements relate to rented office premises, employee house accommodation. Some of these lease agreements include a price escalation clause.

Lease payments aggregating ` 258,849 thousand (Previous year: ` 298,917 thousand) are recognized in the Policyholders’ Revenue Account (Technical Account) under “Rent, rates and taxes”, “Employees’ remuneration and welfare benefits”.w


9. Related parties disclosure

(i) Related Parties and Nature of Relationship:

Sr. No. Name of the Related Party Nature of Relationship1 AIA International Limited Investing Company

2 AP Online Limited Fellow Subsidiary

3 Dharamshala Ropeway Limited Fellow Subsidiary

4 E-Nxt Financials Limited Fellow Subsidiary

5 Hampi Expressways Private Limited Fellow Subsidiary

6 Infiniti Retail Limited Fellow Subsidiary

7 Kolkata-One Excelton Private Limited Fellow Subsidiary

8 Kriday Realty Private Limited Fellow Subsidiary

9 Lemon Tree Land & Developers Private Limited Fellow Subsidiary

10 Mr. Harshad Patil Key Management Personnel

11 Mr. Heerak Basu Key Management Personnel

12 Mr. Ishaat Hussain Chairman

13 Mr. Naveen Tahilyani (Managing Director w.e.f 06.01.2015) Key Management Personnel

14 Mr. Vishal Bandlish Key Management Personnel

15 Peepul Tree Properties Private Limited Fellow Subsidiary

16 Princeton Infrastructure Private Limited Fellow Subsidiary

17 Promont Hillside Private Limited Fellow Subsidiary

18 Promont Hilltop Private Limited Fellow Subsidiary

19 Pune Solapur Expressways Private Limited Fellow Subsidiary

20 Sohna City LLP Fellow Subsidiary

21 Tata AIG General Insurance Company Limited Fellow Subsidiary

22 Tata Asset Management Limited Fellow Subsidiary

23 Tata Capital Financial Services Limited Fellow Subsidiary

24 Tata Capital Forex Limited (Formerly Tt Holdings & Services Limited) Fellow Subsidiary

25 Tata Capital Housing Finance Limited Fellow Subsidiary

26 Tata Capital Limited Fellow Subsidiary

27 Tata Cleantech Capital Limited Fellow Subsidiary

28 Tata Consultancy Services Limited Fellow Subsidiary

29 Tata Consulting Engineers Limited Fellow Subsidiary

30 Tata Housing Development Company Limited Fellow Subsidiary

31 Tata Industries Limited Fellow Subsidiary

32 Tata International Limited Fellow Subsidiary

33 Tata Realty And Infrastructure Limited Fellow Subsidiary

34 Tata Securities Limited Fellow Subsidiary

35 Tata Sky Limited Fellow Subsidiary

36 Tata Sons Limited Holding company

37 TC Travel And Services Limited Fellow Subsidiary

38 THDC Facility Management Limited Fellow Subsidiary

39 TRIF Amritsar Projects Limited Fellow Subsidiary

40 TRIF Kochi Projects Private Limited Fellow Subsidiary

41 TRIF Real Estate And Development Private Ltd Fellow Subsidiary

42 TRIL Infopark Limited Fellow Subsidiary

43 TRIL Roads Private Limited Fellow Subsidiary


(ii) Details of Significant transactions* with related parties during the period and period end balances:

Sr. No.

Name of the Related Party

Nature of Relationship Nature of transactions

For the Quarter ended March

16

For the year

ended March

16


15

For the year

ended March

15


Investing Company

Reimbursement of expense due (to)/from related party

116

(8,310)

2,207

11,209

2 AP Online Limited

Fellow Subsidiary

Payment towards operating expenses and sharing of common facilities

2

16

6

23

3Dharamshala Ropeway Limited

Fellow Subsidiary Receipt of insurance premium 3 9 - -

4E-Nxt Financials Limited

Fellow Subsidiary


27

99

1,144

11,010

5

Hampi Expressways Private Limited

Fellow Subsidiary Receipt of insurance premium - 8 - -

6 Infiniti Retail Limited

Fellow Subsidiary Purchase of Fixed Assets - 83 0 311

7

Kolkata-One Excelton Private Limited

Fellow Subsidiary Receipt of insurance premium - 3 - -

8Kriday Realty Private Limited

Fellow Subsidiary Receipt of insurance premium - 12 - 15

9

Lemon Tree Land & Developers Private Limited

Fellow Subsidiary Receipt of insurance premium - 8 -

9

10

Peepul Tree Properties Private Limited

Fellow Subsidiary Receipt of insurance premium - 1

-

-

11

Princeton Infrastructure Private Limited

Fellow Subsidiary Receipt of insurance premium -

7

-

8

12

Promont Hillside Private Limited

Fellow Subsidiary Receipt of insurance premium

(1)

-

-

-

13Promont Hilltop Private Limited


-

10

-

12

14

Pune Solapur Expressways Private Limited


4

15

-

5

(` ‘000)


(` ‘000)

Sr. No.




16

For the year

ended March

16


15

For the year

ended March

15

15 Sohna City LLP

Fellow Subsidiary Receipt of insurance premium - 6 - 2

16

Tata AIG General Insurance Company Limited

Fellow Subsidiary


273 3,162 913 1,963

Receipt towards operating expenses and sharing of common facilities

3,296 12,777 1,220 11,361

17Tata Asset Management Limited

Fellow Subsidiary Receipt of insurance premium (11) 923 9 954

18

Tata Capital Financial Services Limited

Fellow Subsidiary Commission 462 1,800 172 256

Claims Payout 770 1,264 434 434

Receipt of insurance premium 600 14,627 1,962 6,405

19

Tata Capital Forex Limited (Formerly Tt Holdings & Services Limited)


-

93

-

-

20

Tata Capital Housing Finance Limited

Fellow Subsidiary Claims Payout 3,536 16,840 2,134 2,134

Receipt of insurance premium 398 29,020 22,432 93,352

21 Tata Capital Limited

Fellow Subsidiary Claims Payout 225 425 546 546

Receipt of insurance premium - 402 208 957

22

Tata Cleantech Capital Limited


-

54

-

-

23

Tata Consultancy Services Limited

Fellow Subsidiary


- - - 3,355

Payment towards Professional fees - 3,900 - -

Claims Payout 44,242 2,87,351 - -

Receipt of insurance premium 1,16,807 4,23,884 - -


(` ‘000)

Sr. No.



For the Quarter ended

March 16

For the year

ended March

16


15

For the

year ended March

15

24

Tata Consulting Engineers Limited

Fellow Subsidiary Claims Payout - 2,800 - 1,300

Receipt of insurance premium - 180 195 4,235

25

Tata Housing Development Company Limited


- 227 - 333

26 Tata Industries Limited

Fellow Subsidiary

Payment towards Professional fees 6,766 6,766 - -

27Tata International Limited

Fellow Subsidiary


- - 0

69

Claims Payout - - - 400 Receipt of insurance premium - - 4 4

28

Tata Realty And Infrastructure Limited

Fellow Subsidiary Receipt of insurance premium 7 411 392 347

29 Tata Securities Limited

Fellow Subsidiary Brokerage 650 3,132 896 5,554

Receipt of insurance premium - 196 - -

30 Tata Sky Limited

Fellow Subsidiary Claims Payout

7,315

8,636

1,217

1,217

Receipt of insurance premium (22) 2,763 94 3,894

31 Tata Sons Limited

Holding company

Payment towards Professional fees for workshops and seminars

307 3,478 9,447 9,588

Reimbursement of expense due (to)/from related party - -

26

13

Claims Payout - - - 1,625

Receipt of insurance premium (2) 1,509 - 1,202

32TC Travel And Services Limited


-

72 - -

33THDC Facility Management Limited


-

5 - -

34TRIF Amritsar Projects Limited


2

26

-

-

35

TRIF Kochi Projects Private Limited


2

43

-

-


(` ‘000)

Sr. No.




16

For the year

ended March

16


15

For the year

ended March

15

36

TRIF Real Estate And Development Private Ltd


-

20

-

-

37 TRIL Infopark Limited


-

66

65

64

38TRIL Roads Private Limited

Fellow Subsidiary Receipt of insurance premium (2) 53 39 39

39 Mr. Ishaat Hussain

Key Management Personnel

Receipt of insurance premium 5,000

5,000

5,000

5,000

40

Mr. Naveen Tahilyani (Managing Director w.e.f 06.01.2015)


Receipt of insurance premium -

170

-

-

Remuneration paid to Managing Director

32,553

77,524

14,487

14,487

41 Mr. Harshad Patil



31

-

31

42 Mr. Heerak Basu


Receipt of insurance premium 148

148

148

148

43 Mr. Vishal Bandlish



68

-

75


Investing Company

Outstanding (payables)/ Receivable as at year end

8,862

8,862

19,386

19,386

45 Infiniti Retail Limited

Fellow Subsidiary


-

-

34

34

46

Tata AIG General Insurance Company Limited

Fellow Subsidiary


5,250

5,250

7,994

7,994

47 Tata Capital Limited

Fellow Subsidiary


8

8

8

8

48

Tata Consultancy Services Limited

Fellow Subsidiary


5

5

5

5

49 Tata Sons Limited

Holding company


-

-

(9,078)

(9,078)

* Excluding applicable taxes, but including Swatch Bharat Cess. Note: For all group policies, reported amount is the accounted premium


10. Segment Reporting

In accordance with the Accounting Regulations read with Accounting Standard 17 on “Segment Reporting”, the Company has to report Segment results and Segment assets & liabilities separately for Participating (Life and Pension), Non-participating, Health, Annuity, Group Pension, and Linked (Life, Pension and Group) businesses. Accordingly, the Company has prepared the Revenue Account and the Balance Sheet for these primary business segments as set out in Annexure 1 and Annexure 2 respectively.

Since the business operations of the Company are domiciled in India only, the business as a whole is considered as one geographical segment.

Operating Expenses Allocation

The expenses have been allocated to the various business segments as under:

(a) Expenses which relate directly to a segment are charged to that segment at actual.

(b) Other operating expenses are allocated on one or more of the following bases as are applicable:

• First Year Premium

• Number of Policies

• Total Premium income

• Sum assured

• Commission expenses

• Policy reserve

• Medical cases

(c) Expense allocation - Par Segment

The company has the policy to charge expenses priced in the product to the Participating segment and excess expense (overrun) is allocated between other Segments i.e. Non Par and linked.

Starting with half year ended September 15, Company has started charging the Excess expenses of Par segment (Actual Expenses-Priced expenses) to the shareholders Profit and Loss account. This is reflected through transfer of expenses from Schedule 3 to Schedule 3A in respective line items to the extent of Expense overrun (excess of actual expenses over priced expenses) under Par Segment amounting ` 1,005,493 thousand.

As such, the operating expenses relating to non-participating segment, as also the shareholder’s profit and loss account for the current period are not comparable with the respective figures for the corresponding previous period.

The accounting policies used in segment reporting are the same as those used in the preparation of the financial statements.

11. Earnings Per Share

Earnings per share is calculated by dividing the profit in the Shareholders’ Account (Non-technical Account) by the weighted average number of equity shares outstanding during the half year. The numbers used in calculating the basic and diluted earnings per equity share are as follows:

Particulars Current Year Previous Year

Profit for the year (` ‘000) 636,265 2,636,193

Weighted average number of shares nos 1,953,500,000 1,953,500,000

Earnings per share (Basic and Diluted) ` 0.33 1.35

Face Value per share ` 10 10


SectorsOrdinary Life Group Life

Current Year Previous Year Current Year Previous YearSocial***No. of lives 33,603 9,758 44,326 62,082

Gross Premium (` ‘000) 7,343 729 716 2,441

No. of Policies 34,543 9,861 1 22

% of policies 25.33% 13.73% 0.89% 9.17%Rural No. of policies 37,650 17,357 - -

% of policies 27.61% 24.17% - -OthersNo. of policies 98,730 54,458 112 240

% of policies 72.39% 75.83% 100% 100%Total No. of Policies 136,380 71,815 112 240 % of Policies 100% 100% 100% 100%

(` ‘000)Sr No. Particulars 2015-16 2014-15 2013-14 2012-13 2011-12

POLICYHOLDERS' A/C1 Gross premium income 2,47,89,602 2,12,26,580 2,32,37,035 2,76,04,303 3,63,03,040

2 Net premium income # 2,43,57,951 2,10,64,534 2,31,17,894 2,74,60,398 3,61,82,479

3 Income from Investments(Net)@ 52,91,675 3,88,79,281 2,17,24,188 1,37,82,953 2,89,036

4 Other Income 11,49,728 16,85,474 8,97,895 3,63,548 (2,84,085)

Total Income 3,07,99,354 6,16,29,289 4,57,39,977 4,16,06,899 3,61,87,430 5 Commission 14,94,895 9,22,788 9,20,505 10,35,411 14,12,834

6 Brokerage

7 Operating Expenses related to insurance business 51,55,556 54,24,204 47,78,869 59,15,796 76,01,911

8 Provision for Doubtful Debts (46,020) (43,998) 16,242 31,481 38,287

9 Provision for Diminition in value of Investments (net) 65,476 29,169 282 - -

10 Provision for Tax 4,63,928 (17,557) - - -

Total Expenses 71,33,835 63,14,606 57,15,898 69,82,688 90,53,032 11 Payment to policy holders* 2,89,19,524 3,37,05,134 57,15,898 69,82,688 90,53,032

12 Increase in actuarial liability 1,38,30,212 1,18,10,949 2,68,99,894 1,97,45,244 1,00,51,759

13 Transfer to Linked Funds (Net) (2,03,34,531) 70,33,474 1,13,73,256 1,11,47,423 78,89,772 Surplus/ (Deficit) from operations 12,50,314 27,65,126 (39,64,969) (32,51,144) 1,39,835

SHAREHOLDERS' A/C

14 Total income under Shareholder's Account 26,50,433 44,19,604 41,73,814 33,76,331 27,21,706

15 Contribution to Policyholder's Fund (7,57,257) (12,63,799) (901) (23,035) (72,548)

13. Financial Analysis

12. Business Sector-wise(` ‘000)


(` ‘000)Sr No. Particulars 2015-16 2014-15 2013-14 2012-13 2011-12

16 Profit/(Loss) before tax 7,01,124 31,20,789 41,29,486 33,15,412 26,03,132

17 Profit/(Loss) after tax 6,36,265 26,36,193 41,29,486 33,15,412 26,03,132

Profit/(Loss) carried to Balance sheet (22,60,205) (28,96,470) (55,32,663) (96,62,149) (1,29,77,561)

MISCELLANEOUS(A) Policyholders'Account:

18 Total Funds 17,53,91,655 18,20,23,302 16,24,55,453 15,16,42,153 13,78,29,449

19 Total Investments** 17,19,82,081 18,04,56,855 16,20,53,205 15,29,35,032 13,90,94,750

20 Yield on Investments(%) 3.05% 24.15% 15% 10% 0%(B)Shareholders' Account

21 Total Funds 1,73,00,387 1,66,98,010 1,40,26,167 98,80,495 65,54,151

22 Total Investments** 2,00,32,356 1,73,10,424 1,31,74,095 76,63,168 57,81,472

23 Yield on Investments (%) 9.23% 7.46% 8.84% 8.50% 8.38%

24 Yield on total investments(%) 3.62% 22.58% 14.43% 9.86% 0.52%

25 Paid up equity capital 1,95,35,000 1,95,35,000 1,95,35,000 1,95,35,000 1,95,35,000

26 Net worth 1,73,00,387 1,66,98,010 1,40,26,167 98,80,495 65,54,151

27 Total Assets 20,16,35,219 20,66,79,068 18,22,49,794 16,72,78,607 15,06,13,647

28 Earnings per share (`) 0.33 1.35 2.11 1.70 1.33

29 Book value per share (`) 8.86 8.55 7.18 5.06 3.36

# Net of reinsurance

@ Net of amortisation

* Inclusive of interim bonuses, if any

** Total Investments include term deposits currently being part of cash and bank balances and exclude linked investments.

Notes:

(i) Net worth has been arrived in the following manner: Net Worth = Share capital - Debit balance of P&L – Miscellaneous expenditure to the extent not written off +/(-) Fair value change account.

(ii) The yield on investment has been calculated in the following manner for non linked business: 2 x investment income / (opening investments + closing investments – investment income) where investment income represents Interest, Dividends and Rent-Gross (net of amortisation).

(iii) Total assets = Total assets - Debit balance of P&L – Miscellaneous expenditure to the extent not written off.

(iv) Book value has been arrived in the following manner: Book value = Share capital - Debit balance of P&L – Miscellaneous expenditure to the extent not written off +/(-) Fair value change account.

(v) Investment income and return on investments for the current and previous years have been reworked in consonance with note B.25(1).

14. Allocation of investments and investment income

During the year, the Company has transferred investments, costing ` 7,443 thousand (Previous Year: ` 16,010 thousand), from Shareholders’ Account (Non-technical Account) to Policyholders’ Account (Technical Account) at a transfer value of ` 7,443 thousand (Previous Year: ` 16,010 thousand) to adequately cover policyholders’ liabilities.


(i) New business premium income growth (segment wise) Particulars Current Year Previous YearOrdinary Life - Non Linked 91% (6%)

Ordinary Life – Linked 643% (35%)

Group Business 105% (68%)

Health (49%) (104%)

Pensions - Non Linked 31% (44%)

Pensions – Linked Group 59% (34%)

Pensions – Linked Individual (198%) (63%)

Individual Immediate Annuity (200%) (100%)

15. Ratios

(ii) Net retention ratio (Net premium divided by gross premium) (` ‘000)Particulars Current Year Previous YearNet Premium 24,357,951 21,064,534

Gross Premium 24,789,602 21,226,580

Ratio 98.26% 99.24%

(iii) Ratio of expenses of management (` ‘000)

[(Operating Expenses + Commission)/Total gross direct premium] Particulars Current Year Previous YearManagement expenses 6,689,536 6,341,314

Total Gross Premium 24,789,602 21,226,580

Ratio 26.99% 29.87%

(iv) Commission Ratio (Gross commission paid to gross premium) (` ‘000)Particulars Current Year Previous YearGross Commission 1,514,524 931,939

Total Gross Premium 24,789,602 21,226,580

Ratio 6.11% 4.39%

(v) Ratio of Policyholders’ liabilities to Shareholders’ funds (` ‘000)Particulars Current Year Previous YearPolicyholders’ Liability 175,391,655 182,023,302

Shareholders’ funds 17,300,387 16,698,010

Ratio 1013.80% 1090.09%

(vi) Growth rate of Shareholders’ funds (` ‘000)Particulars Current Year Previous YearShareholders’ funds 17,300,387 16,698,010

Growth rate 3.61% 19.05%

(vii) Percentage of Surplus/Deficit to Policyholders’ liabilities (` ‘000)Particulars Current Year Previous YearSurplus/(Deficit) 1,250,314 2,765,126

Policyholders’ Liability 175,391,655 182,023,302

Percentage 0.71% 1.52%


(viii) Change in net worth (` ‘000)Particulars Current Year Previous YearNet worth 17,300,387 16,698,010

Change (` ‘000) 602,377 2,671,843

(ix) Profit after tax/total income (` ‘000)Particulars Current Year Previous YearProfit after tax 636,265 2,636,193

Total Income 31,689,250 61,610,854

Ratio 2.01% 4.28%

(xi) Total Investments/(Capital + Surplus) (` ‘000)Particulars Current Year Previous YearTotal Investments 192,014,437 197,767,279

Capital 19,535,000 19,535,000

Surplus /(Deficit) * (2,260,105) (2,896,470)

Ratio 1111.53% 1188.61%

(xiii) PersistencyParticulars Current Year Previous YearPersistency Ratios - By Premium $

Non Linked Business

For 13th month 72.18% 73.65%

For 25th month 66.87% 59.11%

For 37th month 54.44% 49.46%

For 49th Month 46.28% 43.06%

For 61st month 39.07% 35.37%

(xii) Investment Yields (Annualised)Particulars Year ended Mar 16 Year ended Mar 15

with realised gains

Non-linked Par 6.40% 22.08%

Non-linked Non-par 7.81% 16.71%

Linked -2.88% 37.51%

Shareholders' 7.12% 17.40%

without realised gains

Non-linked Par 6.27% 21.88%

Non-linked Non-par 7.75% 16.72%

Linked -2.88% 37.51%

Shareholders' 6.07% 17.40%

* represents debit balance of P&L and miscellaneous expenditure to the extent not written off or adjusted

(x) (Total Real Estate + Loans)/Cash & invested assets.

The Company does not have any investment in Real Estate and has not advanced any loans; therefore, this ratio cannot be calculated.


(xiii) PersistencyParticulars Current Year Previous YearLinked Business

For 13th month 95.95% 86.19%

For 25th month 82.53% 71.97%

For 37th month 68.53% 62.42%

For 49th Month 60.75% 45.33%

For 61st month 35.02% 32.80%Persistency Ratios - By Policy $

Non Linked Business

For 13th month 56.40% 50.24%

For 25th month 44.63% 39.81%

For 37th month 36.11% 35.68%

For 49th Month 33.08% 22.59%

For 61st month 23.13% 12.37%Linked Business

For 13th month 95.90% 75.27%

For 25th month 69.71% 58.65%

For 37th month 54.64% 47.96%

For 49th Month 45.90% 36.61%

For 61st month 25.47% 20.46%

(xiv) NPA RatioParticulars Current Year Previous YearGross NPA Ratio NIL NIL

Net NPA Ratio NIL NIL

(xv) Solvency RatioParticulars Current Year Previous Year

348% 417%

(xvi) Total affiliated investments/(Capital + Surplus)

The Company does not have any affiliated investments and therefore this ratio cannot be calculated.

(xvii) Conservation ratio*Particulars As at March 31,2016 As at March 31,2015

Ordinary Life - Non linked 90% 91%

Ordinary Life – Linked 73% 76%

Group Business 85% 55%

Health 89% 85%

Pensions - Non Linked 35% 25%

Pensions - Linked Group 0% 0%

Pensions - Linked Individual 68% 67%

Individual Immediate Annuity NA NA

Total 83% 81%*Conservation Ratio: (Renewal Premium of Current Year/(First Year Premium+ Renewal Premium) of Previous Year)


Sr No. Particulars Current

YearPrevious

Yeara) Total amount of loan assets subject to Restructuring - -

b) The amount of standard assets subject to Restructuring - -

c) The amount of sub-standard assets subject to Restructuring - -

d) The amount of doubtful assets subject to Restructuring - -

16. Percentage of risk retained and risk reinsured and as certified by the Actuary based on sum assured is as follows:

ParticularsCurrent Year Previous Year

(` ’000) % (` ’000) %

Individual Business (Non linked)

Risk Retained 225,881,611 49% 198,665,847 65%

Risk Reinsured 236,772,849 51% 105,565,443 35%

Individual Business (Linked)

Risk Retained 82,377,202 78% 88,415,672 85%

Risk Reinsured 23,803,313 22% 15,347,729 15%

Group Business

Risk Retained 832,328,591 59% 104,588,126 89%

Risk Reinsured 589,718,235 41% 13,576,947 11%

Credit Life Business

Risk Retained 121,806,237 86% 146,347,293 85%

Risk Reinsured 20,405,967 14% 26,434,925 15%

17. Group Pension Business

The Group Pension business represents Pension Funds managed by the Company for various employer companies. Periodic contributions are received by the Company from the members of Pension Funds of employer companies and the same are invested by the Company in accordance with the Insurance Regulatory and Development Authority (Investment) Regulations, 2000.

As per the clarification received from IRDAI, the Corporate Gratuity and Pension Business underwritten, forms part of the insurer’s business. In adherence to the clarification, the books of account relating to Corporate Gratuity and Pension Business are consolidated with the books of account of the other business of the Company.

18. The Company has transferred an amount of ` 757,257 thousand (Previous year: ` 1,263,799 thousand) from Shareholders’ Account (Non-technical Account) to Policyholders’ Account (Technical Account). The above transfer from Shareholders’

Account (Non-technical Account) to Policyholders’ Account (Technical Account) is irreversible in nature and will not be recouped to the Shareholders’ Account (Non-technical Account) at any point of time in future.

An amount of ` 1,003,280 thousand (Previous year: ` 3,174,240 thousand) has been distributed as surplus to the Shareholders, in accordance with Insurance Regulatory and Development Authority (Distribution of Surplus) Regulations, 2002.

19. Bonus to Policyholders, amounting to ` 2,527,290 thousand (Previous year: ` 1,786,520 thousand), represents bonus finalized and allocated to each of the Policyholders’ for the year ended March 31, 2016.

20. Under the non-forfeiture and automatic policy loan options in the policy contract, if the policyholder does not pay the premium within the grace period, subsequent to the due date of premium, and the non-forfeiture option has not been exercised, then the premium in default, including any other amount due, is automatically treated as a Policy loan.

21. Details of Assets under Restructuring:

(` ’000)


(` ‘000)

Sr.No. Authority Non-Compliance/Violation Penalty

AwardedPenalty

Paid

Penalty Waived/ Reduced

1 Insurance Regulatory and Development Authority

Violation of Clause 21 of the Corporate Agent Guidelines

1000 1000 NIL

{NIL} {NIL} {NIL}

2 Service Tax Authorities NANIL NIL NIL

{NIL} {NIL} {NIL}

3 Income Tax Authorities NANIL NIL NIL

{NIL} {NIL} {NIL}

4 Any other Tax Authorities: Profession Tax NA

NIL NIL NIL

{NIL} {NIL} {NIL}

5

Enforcement Directorate/Adjudicating Authority/Tribunal or any Authority under FEMA

Compounding of contravention under FEMA to RBI

NIL NIL NIL

{NIL} {NIL} {NIL}

6

Registrar of Companies/NCLT/CLB/ Ministry of Corporate Affairs or any Authority under Companies Act, 2013

NA

NIL NIL NIL

{NIL} {NIL} {NIL}

7

Penalty awarded by any Court/Tribunal for any matter including claim settlement but excluding compensation

NA

NIL NIL NIL

{NIL} {NIL} {NIL}

8 Securities and Exchange Board of India NA

NIL NIL NIL

{NIL} {NIL} {NIL}

9 Competition Commission of India NA

NIL NIL NIL

{NIL} {NIL} {NIL}

10Any other Central/State/Local Government /Statutory Authority

Minimum Wages Act & Contract Labour Act

NIL NIL NIL

{NIL} 2 {NIL}

ParticularsCurrent Year Previous Year

Unit Reserves Non Unit Unit

Reserves Non Unit

Policy Liability 3,304,511 9,768 5,977,058 6,939

Funds for Future Appropriation - 17,445 216 50,547

22. As per IRDAI circular no. 005/IRDA/F&A/CIR/MAY-09 dated May 07, 2009, insurers are advised to provide details of the penal actions taken by the various Government authorities. The details for the year ended 31st March 2016 are given below:

Note: Text & Figures in Brace bracket are for previous year.

23. Fixed assets have been mainly used for the Insurance business. Therefore, the same have been shown under Policyholders’ funds in the Balance Sheet as at March 31, 2016. Depreciation has been charged in the Policyholders’ Revenue Account (Technical Account) accordingly.

24. As per IRDAI circular no.041/IRDA/ACTL/MAR-2006 dated March 28, 2006, insurers are advised to maintain reserve for policies lapsed under the Unit Link product till the expiry of revival period.

In line with the above circular, the Company has created reserves as follows:

(` ‘000)


Fund NameAbbrevia

tion used

Year of Inception

Year

2016 2015 2014 Since Inception

Equity Fund TEL 04-Feb-04 -8% 28% 19% 362%

Income Fund TIL 04-Feb-04 7% 16% 4% 122%

Liquid Fund TLL 04-Feb-04 7% 8% 8% 119%

Balanced Fund TBL 04-Feb-04 1% 21% 11% 204%

Growth Fund TGL 04-Feb-04 -2% 28% 13% 275%

Aggressive Growth Fund TAL 01-Jul-06 -2% 29% 13% 137%

Stable Growth Fund TSL 01-Jul-06 1% 22% 9% 129%

Short Term Fixed Income Fund TFL 01-Jul-06 8% 9% 8% 101%

Capital Guarantee Fund TCG 17-Oct-07 4% 15% 4% 71%

Growth Enabler Fund TGE 17-Oct-07 0% 22% 8% 63%

Growth Maximizer Fund TGM 17-Oct-07 -2% 25% 12% 42%

Large Cap Equity Fund TLC 07-Jan-08 -7% 33% 21% 72%

Whole Life Mid Cap Equity Fund WLE 04-Jan-07 -4% 76% 24% 208%

Whole Life Income Fund WLI 04-Jan-07 7% 16% 5% 102%

Whole Life Aggressive Growth Fund WLA 04-Jan-07 -2% 32% 14% 136%

Whole Life Stable Growth Fund WLS 04-Jan-07 1% 25% 10% 106%

Whole Life Short Term Fixed Income Fund WLF 04-Jan-07 8% 10% 8% 96%

Future Balanced Pension Fund FBP 04-Feb-08 5% 17% 4% 80%

Future Capital Guarantee Pension Fund FCG 04-Feb-08 4% 16% 4% 67%

25. As per IRDAI circular no.054/IRDA/F&A/FEB.-07 dated February 20, 2007; insurers are required to provide additional disclosures, as mentioned in the circular, with respect to Unit Linked business.

In line with the disclosure norms, the Company has prepared the following statements for Unit Linked business:

(1) Unit Linked Revenue Account, segregated into non-unit fund and unit fund, as an addendum to the Form A-RA (Refer Annexure 3).

The transfer to linked fund (net), as shown in Policyholders’ Account (Technical Account), represents net amount transferred to Unit Linked fund after considering the following:

i. Non investment portion of the unit link premium

ii. Income from investment

iii. Fees and charges

iv. Claims arising from cancellation of units.

In consequence to the above circular, the Company has consolidated Unit link fund financials with the main financials of the Company, to adhere to the disclosure requirements with respect to unit and non-unit components of the linked business. Previous Year figures have been accordingly regrouped.

(2) Unit Linked Fund Financials, comprising of Fund Revenue Account, Balance sheet and underlying Schedules (Refer Annexure 4A for Ordinary Life Linked business and 4B for Pension Linked business).

(3) Additional disclosures of notes towards Unit Link are:

(3.1) Performance of the Schemes (Absolute Growth %)


Fund NameAbbrevia

tion used

Year of Inception

Year


Future Equity Pension Fund FEP 04-Feb-08 -6% 36% 19% 92%

Future Growth Pension Fund FGP 04-Feb-08 2% 19% 8% 80%

Future Income Pension Fund FIP 04-Feb-08 7% 16% 5% 86%

Future Select Equity Fund. FSE 26-Sep-08 -6% 51% 22% 208%

Select Equity Fund TSE 06-Oct-08 -7% 48% 23% 215%

110% Capital Guarantee Fund UCX 10-Nov-08 3% 14% 3% 52%

Aggressive Flexi Fund IAF 12-Jan-09 0% 22% 8% 68%

Bond Fund IBF 12-Jan-09 7% 15% 4% 72%

Stable Flexi Fund ISF 12-Jan-09 4% 17% 5% 66%

Top 50 Fund ITF 12-Jan-09 -6% 28% 20% 152%

Top 200 Fund ITT 12-Jan-09 -7% 45% 20% 210%

Apex Investment Fund AIN 18-Feb-09 0% 0% 0% 0%

Apex Return Lock-in Fund ARL 18-Feb-09 2% 20% 13% 74%

Infrastructure Fund TIS 16-Oct-09 -11% 50% 19% 36%

Super Select Equity Fund TSS 16-Oct-09 -6% 50% 24% 110%

Apex Return Lock-in Fund II AR2 03-Aug-09 2% 20% 13% 63%

Super 110% Capital Guarantee Fund UCS 23-Nov-09 4% 16% 4% 54%

Super Select Equity Pension Fund FSS 04-Jan-10 -7% 52% 25% 99%

Apex Pension Investment Fund PI1 20-Jan-10 0% 0% 0% 0%

Apex Pension 10 Investment Fund PI2 20-Jan-10 0% 0% -1% 0%

Apex Pension 15 Investment Fund PI3 20-Jan-10 0% -1% 0% 0%

Apex Pension 20 Investment Fund PI4 20-Jan-10 0% 0% 0% 0%

Apex Pension Return Lock-in Fund PR1 20-Jan-10 1% 23% 14% 60%

Apex Pension 10 Return Lock-in Fund PR2 20-Jan-10 1% 23% 14% 60%

Apex Pension 15 Return Lock-in Fund PR3 20-Jan-10 -2% 25% 14% 57%

Apex Pension 20 Return Lock-in Fund PR4 20-Jan-10 -4% 27% 15% 59%

Apex Plus Investment Fund AP1 01-Feb-10 0% 0% -1% 0%

Apex Plus Return Lock-in Fund RA1 01-Feb-10 1% 23% 13% 59%

Apex Pension Return Lock-in Fund II PR5 01-Jul-10 0% 23% 14% 45%


Fund NameAbbrevia

tion used

Year of Inception

Year


Apex Pension 10 Return Lock-in Fund II PR6 01-Jul-10 0% 23% 14% 44%

Apex Pension 15 Return Lock-in Fund II PR7 01-Jul-10 -1% 25% 14% 45%

Apex Pension 20 Return Lock-in Fund II PR8 01-Jul-10 -3% 25% 15% 43%

Apex Plus Return Lock-in Fund II RA2 01-Jul-10 0% 23% 14% 42%

Discontinued Policy Fund DCF 07-Jan-11 8% 9% 9% 52%

Apex Supreme Investment Fund ASI 01-Feb-11 0% 0% 0% 0%

Apex Supreme Return Lock-in Fund ASR 01-Feb-11 -1% 24% 15% 49%

Apex Supreme Investment Fund II SI2 01-Jul-11 0% 0% -1% 0%

Apex Supreme Return Lock-in Fund II SR2 01-Jul-11 -1% 24% 14% 59%

Apex Supreme Investment Fund III SI3 01-Nov-11 1% 0% -1% 1%

Apex Supreme Return Lock-in Fund III SR3 01-Nov-11 -1% 24% 16% 55%

Multi Cap Fund MCF 15-Jul-14 N.A. N.A. N.A -3%

India Consumption Fund ICF 15-Jul-14 N.A. N.A. N.A -3%

Pension - Equity Fund E1 02-Mar-04 -8% 27% 20% 395%

Pension - Income Fund I1 02-Mar-04 7% 16% 4% 131%

Pension - Liquid Fund L1 02-Mar-04 7% 8% 8% 124%

Pension - Short Term Fixed Income Fund S1 01-Jul-06 8% 9% 8% 97%

Pension - Bond Fund BO 17-Aug-07 7% 16% 5% 98%

Pension - Balanced Fund BL 17-Aug-07 4% 17% 7% 87%

Pension - Growth Fund G2 17-Aug-07 -42% 17% 7% 0%

Pension - Maxima Fund M1 17-Aug-07 0% -14% 5% 0%

(*) The abbreviations used above are mentioned in place of complete fund names for disclosures provided below

(3.2) Investment Management

The Company has not outsourced any of its investment management activities and no fees have been charged to Policyholder’s Account.


Scheme Scheme Name Amount

TEL Equity Fund 426.49PR2 Apex Pension 10 Return Lock-in Fund 298.72TLC Large Cap Equity Fund 266.73RA1 Apex Plus Return Lock-in Fund 257.76TSS Super Select Equity Fund 243.41WLE Whole Life Mid Cap Equity Fund 205.48TSE Select Equity Fund 127.04FEP Future Equity Pension Fund 114.65ASR Apex Supreme Return Lock-in Fund 114.15TGL Growth Fund 105.25PR3 Apex Pension 15 Return Lock-in Fund 105.20RA2 Apex Plus Return Lock-In Fund II 88.93SR3 Apex Supreme Return Lock-in Fund III 81.88ITF Top 50 Fund 80.49SR2 Apex Supreme Return Lock-in Fund II 71.29WLA Whole Life Aggressive Growth Fund 57.84AR2 Apex Return Lock-In Fund II 51.42PR6 Apex Pension 10 Return Lock-in Fund II 47.98TAL Aggressive Growth Fund 37.03E1 Pension Equity Fund 35.39TBL Balanced Fund 31.42FSS Super Select Equity Pension Fund 30.99PR5 Apex Pension Return Lock-in Fund II 25.85ARL Apex Return Lock-In Fund 25.67TIS Infrastructure Fund 23.90FSE Future Select Equity Fund. 22.72PR7 Apex Pension 15 Return Lock-in Fund II 10.75ITT Top 200 Fund 9.52PR4 Apex Pension 20 Return Lock-in Fund 8.94TGM Growth Maximizer Fund 8.22TCG Capital Guarantee Fund 7.58PR1 Apex Pension Return Lock-in Fund 5.38FGP Future Growth Pension Fund 5.24FCG Future Capital Guarantee Pension Fund 4.77TSL Stable Growth Fund 4.34PR8 Apex Pension 20 Return Lock-in Fund II 4.31UCX 110% Capital Guarantee Fund 4.08ISF Stable Flexi Fund 3.11UCS Super 110% Capital Guarantee Fund 2.12IAF Aggressive Flexi Fund 0.73FBP Future Balanced Pension Fund 0.62ICF India Consumption Fund 0.16MCF Multi Cap Fund 0.15TGE Growth Enabler Fund 0.01 Total 3,057.69

(3.3) Related Party transactions – Details to be furnished scheme-wise:

a) Brokerage Details




WLE Whole Life Mid Cap Equity Fund 709.44

TSS Super Select Equity Fund 557.62

TAL Aggressive Growth Fund 508.14

TEL Equity Fund 360.96

TSE Select Equity Fund 309.14

ITF Top 50 Fund 280.72

TLC Large Cap Equity Fund 235.42

FEP Future Equity Pension Fund 230.95

PR2 Apex Pension 10 Return Lock-in Fund 228.34

TGL Growth Fund 200.15

WLS Whole Life Stable Growth Fund 181.78

WLA Whole Life Aggressive Growth Fund 164.53

TBL Balanced Fund 127.50

RA1 Apex Plus Return Lock-in Fund 125.14

SR3 Apex Supreme Return Lock-in Fund III 96.59

ITT Top 200 Fund 92.50

ASR Apex Supreme Return Lock-in Fund 91.42

TIS Infrastructure Fund 85.31

SR2 Apex Supreme Return Lock-in Fund II 69.56

TSL Stable Growth Fund 67.25

FSE Future Select Equity Fund. 60.36

IAF Aggressive Flexi Fund 59.02

E1 Pension Equity Fund 55.43

FSS Super Select Equity Pension Fund 54.73

RA2 Apex Plus Return Lock-In Fund II 51.24

TGM Growth Maximizer Fund 33.10

PR6 Apex Pension 10 Return Lock-in Fund II 30.86

FGP Future Growth Pension Fund 29.47

WLF Whole Life Short Term Fixed Income Fund 20.22


PR5 Apex Pension Return Lock-in Fund II 14.86


TCG Capital Guarantee Fund 11.76




ISF Stable Flexi Fund 9.78

FCG Future Capital Guarantee Pension Fund 7.89

UCX 110% Capital Guarantee Fund 7.19


G2 Pension Growth Fund 5.04

FBP Future Balanced Pension Fund 4.39

PR1 Apex Pension Return Lock-in Fund 3.38

UCS Super 110% Capital Guarantee Fund 3.21

BL Pension Balanced Fund 2.12

S1 Pension Short Term Fixed Income 1.51

TGE Growth Enabler Fund 1.42


Total 5,229.04


Counterparty Scheme Code

Scheme Name security Transac

tionvalue date

asset type Amount

Tata Asset Management (TATA MF)

ASRApex Supreme Return Lock-in Fund

8.65% LIC Housing Finance Ltd. 29-09-2020

Purchase 23-Oct-15 Bonds 25,487


SR2Apex Supreme Return Lock-in Fund II

8.65% LIC Housing Finance Ltd. 29-09-2020

Purchase 23-Oct-15 Bonds 25,487


BO Pension Bond 8.05% Gujarat SDL 25-02-2025 Purchase 25-Feb-15 Bonds 24,062


FIP Future Income Pension Fund

8.05% Gujarat SDL 25-02-2025 Purchase 25-Feb-15 Bonds 11,029


I1 Pension Income 8.05% Gujarat SDL 25-02-2025 Purchase 25-Feb-15 Bonds 87,226


IBF Bond Fund 8.05% Gujarat SDL 25-02-2025 Purchase 25-Feb-15 Bonds 6,016


TIL Income Fund 8.05% Gujarat SDL 25-02-2025 Purchase 25-Feb-15 Bonds 32,083


WLAWhole Life Aggressive Growth Fund

9.8% PFC Ltd 27.09.2016 Purchase 07-May-14 Bonds 11,744

b) Purchase/sale deals




Counterparty Scheme Code

Scheme Name security Transac

tionvalue date

asset type Amount


WLFWhole Life Short Term Fixed Income Fund

9.8% PFC Ltd 27.09.2016 Purchase 07-May-14 Bonds 16,015


WLI Whole Life Income Fund

8.05% Gujarat SDL 25-02-2025 Purchase 25-Feb-15 Bonds 90,234


Security Name Industry Data TEL TIL TLL TBL TGL TAL TSL

Tata Consultancy Services Ltd.

It - Software

Market Value 5,29,263 - - 4,957 28,978 40,199 3,327

% of NAV 3.69% - - 1.26% 2.21% 2.48% 1.45%

Tata Motors Limited Automobile

Market Value 8,11,505 - - 5,426 30,583 44,785 3,691 % of NAV 5.66% - - 1.38% 2.33% 2.76% 1.61%

Tata Steel Limited Steel

Market Value 1,42,377 - - - - - - % of NAV 0.99% - - - - - -

Titan Company Ltd.

Consumer Durables

Market Value - - - - - - - % of NAV - - - - - - -

2.00% Tata Steel Ltd. 23-04-2022

Steel Market Value - 47,499 - - - 23,749 -

% of NAV - 6.46% - - - 1.47% -

Voltas Ltd. Diversified Market Value - - - - - - -

% of NAV - - - - - - -9.90% Indian Hotels Ltd. 24-02-2017

Restaurants

Market Value - - - - - 10,126 -

% of NAV - - - - - 0.62% -

(i) Current Year (` ‘000)

c) Details of company-wise investments held in the Promoter group and as a percentage of funds under management, (this information is given scheme-wise and for total funds under management under Unit Link):

Security Name Industry Data TFL TCG TGE TGM TLC TSE UCX AIN


It - Software

Market Value - 373 68 870 2,77,233 1,21,418 224 -

% of NAV - 0.92% 1.35% 2.45% 3.67% 8.04% 1.12% -


Market Value - 140 68 1,382 3,24,176 - 82 - % of NAV - 0.35% 1.34% 3.90% 4.29% - 0.41% -


Market Value - - - - 70,125 - - - % of NAV - - - - 0.93% - - -

Titan Company Ltd.

Consumer Durables

Market Value - - - - - - - - % of NAV - - - - - - - -

2.00% Tata Steel Ltd. 23-04-2022

Steel Market Value - - - - - - - -

% of NAV - - - - - - - -

Voltas Ltd. Diversified Market Value - - - - - - - -

% of NAV - - - - - - - -9.90% Indian Hotels Ltd. 24-02-2017

Restaurants

Market Value - - - - - - - -

% of NAV - - - - - - - -

(` ‘000)


Security Name Industry Data WLI WLA WLS WLF FBP FCG FEP FGP


It - Software

Market Value - 76,529 12,602 - 491 252 52,926 2,268

% of NAV - 2.22% 1.70% - 0.46% 0.96% 3.86% 1.27%


Market Value - 84,256 12,236 - 534 89 56,305 2,610 % of NAV - 2.45% 1.65% - 0.50% 0.34% 4.11% 1.46%



Titan Company Ltd.

Consumer Durables


2.00% Tata Steel Ltd. 23-04-2022

Steel Market Value 1,18,747 11,875 - - - - - -

% of NAV 4.82% 0.34% - - - - - -

Voltas Ltd. Diversified Market Value - - 6,966 - - - - -

% of NAV - - 0.94% - - - - -9.90% Indian Hotels Ltd. 24-02-2017

Restaurants

Market Value - - - - - - - -

% of NAV - - - - - - - -


Security Name Industry Data ARL ITF ITT IAF ISF IBF WLE


It - Software

Market Value 23,943 21,196 50,406 1,852 517 - -

% of NAV 0.98% 3.87% 4.05% 1.62% 0.65% - -


Market Value 30,928 23,511 32,278 2,427 627 - - % of NAV 1.27% 4.29% 2.59% 2.12% 0.79% - -


Market Value 11,190 - 6,394 - - - 1,52,212 % of NAV 0.46% - 0.51% - - - 0.83%

Titan Company Ltd.

Consumer Durables

Market Value - - 8,478 - - - - % of NAV - - 0.68% - - - -

2.00% Tata Steel Ltd. 23-04-2022

Steel Market Value - - - - - - -

% of NAV - - - - - - -

Voltas Ltd. Diversified Market Value - - 9,734 - - - 62,573

% of NAV - - 0.78% - - - 0.34%9.90% Indian Hotels Ltd. 24-02-2017

Restaurants

Market Value - - - - - - -

% of NAV - - - - - - -

(` ‘000)


Security Name Industry Data PI2 PI3 PI4 PR1 PR2 PR3 PR4 PR5 PR6


It - Software

Market Value - - - 315 15,122 6,049 1,008 1,071 3,780

% of NAV - - - 1.41% 1.57% 2.32% 3.46% 1.46% 1.71%


Market Value - - - 309 15,464 5,799 793 1,140 3,479 % of NAV - - - 1.39% 1.61% 2.22% 2.72% 1.56% 1.57%


Market Value - - - 136 3,197 1,599 - 352 2,174 % of NAV - - - 0.61% 0.33% 0.61% - 0.48% 0.98%

Titan Company Ltd.

Consumer Durables

Market Value - - - - - - - - 509 % of NAV - - - - - - - - 0.23%

2.00% Tata Steel Ltd. 23-04-2022

Steel Market Value - - - - - - - - -

% of NAV - - - - - - - - -

Voltas Ltd. Diversified Market Value - - - - - - - - -

% of NAV - - - - - - - - -

9.90% Indian Hotels Ltd. 24-02-2017

Restaurants

Market Value - - - - - - - - -

% of NAV - - - - - - - - -


Security Name Industry Data FIP FSE TIS TSS AR2 UCS FSX PI1


It - Software

Market Value - 18,532 - 5,63,539 22,683 76 16,004 -

% of NAV - 8.52% - 8.40% 1.30% 1.07% 8.15% -


Market Value - - 4,079 - 23,196 39 - - % of NAV - - 1.79% - 1.33% 0.55% - -


Market Value - - 6,394 - 9,591 - - - % of NAV - - 2.81% - 0.55% - - -

Titan Company Ltd.

Consumer Durables


2.00% Tata Steel Ltd. 23-04-2022

Steel Market Value 11,875 - - - - - - -

% of NAV 5.95% - - - - - - -

Voltas Ltd. Diversified Market Value - - 6,953 - - - - -

% of NAV - - 3.05% - - - - -9.90% Indian Hotels Ltd. 24-02-2017

Restaurants


% of NAV - - - - - - - -

(` ‘000)


Security Name Industry Data PR7 PR8 AP1 RA1 RA2 ASI ASR DCF


It - Software

Market Value 1,260 252 - 20,162 4,663 - 13,862 -

% of NAV 2.46% 3.00% - 1.83% 1.64% - 2.03% -


Market Value 967 186 - 16,431 4,639 - 12,083 - % of NAV 1.89% 2.21% - 1.49% 1.63% - 1.77% -


Market Value 296 64 - 3,836 1,599 - 2,478 - % of NAV 0.58% 0.76% - 0.35% 0.56% - 0.36% -

Titan Company Ltd.

Consumer Durables

Market Value - - - - 1,017 - - - % of NAV - - - - 0.36% - - -

2.00% Tata Steel Ltd. 23-04-2022


% of NAV - - - - - - - -



Restaurants

Market Value - - - - - - - -

% of NAV - - - - - - - -

Security Name Industry Data SI2 SR2 SI3 SR3 MCF ICF

Tata Consultancy Services Ltd. It - Software

Market Value - 7,561 - 8,821 - - % of NAV - 1.89% - 1.85% - -

Tata Motors Limited Automobile Market Value - 6,118 - 7,546 2 -

% of NAV - 1.53% - 1.59% 1.49% -

Tata Steel Limited Steel Market Value - 1,439 - 2,398 1 -

% of NAV - 0.36% - 0.50% 0.98% -

Titan Company Ltd. Consumer Durables

Market Value - - - - - - % of NAV - - - - - -

2.00% Tata Steel Ltd. 23-04-2022 Steel


Voltas Ltd. Diversified Market Value - - - - - -

% of NAV - - - - - -

9.90% Indian Hotels Ltd. 24-02-2017 Restaurants



(` ‘000)


Security Name Industry Data E1 I1 L1 S1 BO BL G2 M1


It - Software

Market Value 27,723 - - - - 3,780 - -

% of NAV 4.37% - - - - 0.57% - -


Market Value 22,433 - - - - 3,456 - - % of NAV 3.53% - - - - 0.52% - -


Market Value 7,644 - - - - 639 - - % of NAV 1.20% - - - - 0.10% - -

Titan Company Ltd.

Consumer Durables


2.00% Tata Steel Ltd. 23-04-2022

Steel Market Value - 1,42,496 - - - - - -

% of NAV - 5.84% - - - - - -



Restaurants

Market Value - - - - - - - -

% of NAV - - - - - - - -

Security Name Industry % of NAV Market Value of Investment

Net Asset Value (NAV)

Tata Consultancy Services Limited It - Software 2.41% 19,86,155 82,248,876Tata Motors Limited Automobile 1.94% 15,95,799 82,248,876Tata Steel Limited Steel 0.52% 4,26,133 82,248,876Titan Company Ltd. Consumer Durables 0.01% 10,003 82,248,8762.00% Tata Steel Ltd. 23-04-2022 Steel 0.43% 3,56,240 82,248,876Voltas Ltd. Diversified 0.10% 86,225 82,248,8769.90% Indian Hotels Ltd. 24-02-2017 Hotels & Restaurants 0.01% 10,126 82,248,876

Security Name Industry Data TEL TIL TLL TBL TGL TAL

Tata Consultancy Services Ltd. It - Software

Market Value 10,98,199 - - 7,463 41,190 66,403 % of NAV 5.93% - - 1.81% 2.92% 3.33%


Market Value 9,90,360 - - 7,319 41,254 60,412 % of NAV 5.34% - - 1.78% 2.93% 3.03%


Market Value 1,41,064 - - - - - % of NAV 0.76% - - - - -

Titan Company Ltd. Consumer Durables

Market Value - - - 2,428 9,790 15,664 % of NAV - - - 0.59% 0.69% 0.78%

2.00% Tata Steel Ltd. 23-04-2022

Steel Market Value - 44,128 - - - 22,064

% of NAV - 5.00% - - - 1.11%

Voltas Ltd. Diversified Market Value - - - - -

% of NAV - - - - - -9.90% Indian Hotels Ltd. 24-02-2017

Restaurants Market Value - - - - - 10,199

% of NAV - - - - - 0.51%

ii) Total Funds under Management (` ‘000)

i) Previous Year (` ‘000)

(` ‘000)


Security Name Industry Data TSL TFL TCG TGE TGM TLC TSE


It - Software Market Value 5,402 - 378 133 2,043 4,46,584 1,43,471

% of NAV 2.08% - 0.77% 2.21% 3.64% 4.63% 7.26%


Market Value 4,979 - 124 91 1,865 3,85,140 - % of NAV 1.92% - 0.25% 1.52% 3.32% 4.00% -


Market Value - - - - - 69,478 - % of NAV - - - - - 0.72% -

Titan Company Ltd.

Consumer Durables

Market Value 1,762 - - - 783 - 56,947 % of NAV 0.68% - - - 1.40% - 2.88%





Restaurants Market Value - - - - - - -

% of NAV - - - - - - -

(` ‘000)

Security Name Industry Data UCX AIN ARL ITF ITT IAF ISF IBF


It - Software

Market Value 227 - 74,065 49,036 20,432 3,192 1,124 -

% of NAV 0.95% - 2.63% 5.52% 1.05% 1.90% 0.99% -


Market Value 59 - 55,020 42,145 43,541 3,274 1,018 - % of NAV 0.25% - 1.95% 4.74% 2.23% 1.95% 0.89% -


Market Value - - 12,353 - 6,335 - - - % of NAV - - 0.44% - 0.32% - - -

Titan Company Ltd.

Consumer Durables

Market Value - - - - 9,790 1,057 372 - % of NAV - - - - 0.50% 0.63% 0.33% -

2.00% Tata Steel Ltd. 23-04-2022


% of NAV - - - - - - - -

Voltas Ltd. Diversified Market Value - - - - 9,795 - - -

% of NAV - - - - 0.50% - - -9.90% Indian Hotels Ltd. 24-02-2017

Restaurants

Market Value - - - - - - - -

% of NAV - - - - - - - -

(` ‘000)


Security Name Industry Data FEP FGP FIP FSE TIS TSS AR2


It - Software Market Value 94,496 3,576 - 25,675 - 6,64,027 44,694

% of NAV 4.98% 1.48% - 8.37% - 7.28% 2.19%


Market Value 86,381 3,521 - - 5,502 - 38,514 % of NAV 4.56% 1.46% - - 1.34% - 1.89%


Market Value - - - - 6,335 - 9,503 % of NAV - - - - 1.54% - 0.47%

Titan Company Ltd.

Consumer Durables

Market Value 35,244 1,175 - 7,832 - 2,76,031 - % of NAV 1.86% 0.49% - 2.55% - 3.03% -


Market Value - - 11,032 - - - - % of NAV - - 3.82% - - - -

Voltas Ltd. Diversified Market Value - - - - 6,996 - -

% of NAV - - - - 1.70% - -9.90% Indian Hotels Ltd. 24-02-2017


% of NAV - - - - - - -

(i) Previous Year (` ‘000)

Security Name Industry Data WLE WLI WLA WLS WLF FBP FCG


It - Software

Market Value - - 1,25,092 18,593 - 817 255

% of NAV - - 3.09% 2.15% - 0.64% 0.81%


Market Value - - 1,13,655 16,506 - 721 81 % of NAV - - 2.81% 1.91% - 0.57% 0.26%



Titan Company Ltd.

Consumer Durables

Market Value 2,34,960 - 29,370 - - 255 - % of NAV 1.09% - 0.73% - - 0.20% -

2.00% Tata Steel Ltd. 23-04-2022

Steel Market Value - 1,10,319 11,032 - - - -

% of NAV - 4.46% 0.27% - - - -

Voltas Ltd. Diversified Market Value 62,966 - - 7,010 - - -

% of NAV 0.29% - - 0.81% - - -9.90% Indian Hotels Ltd. 24-02-2017

Restaurants


% of NAV - - - - - - -

(` ‘000)


Security Name Industry Data UCS FSX PI1 PI2 PI3 PI4 PR1 PR2 PR3


It - Software Market Value 97 29,370 - - - - 702 30,647 12,706

% of NAV 0.84% 8.95% - - - - 2.66% 2.40% 3.48%


Market Value - - - - - - 729 27,235 10,454 % of NAV - - - - - - 2.76% 2.13% 2.86%


Market Value - - - - - - - 4,751 1,584 % of NAV - - - - - - - 0.37% 0.43%

Titan Company Ltd.

Consumer Durables

Market Value - 7,832 - - - - - 8,615 - % of NAV - 2.39% - - - - - 0.67% -


Market Value - - - - - - - - - % of NAV - - - - - - - - -

Voltas Ltd. Diversified Market Value - - - - - - - - -

% of NAV - - - - - - - - -9.90% Indian Hotels Ltd. 24-02-2017

Restaurants Market Value - - - - - - - - -

% of NAV - - - - - - - - -

Security Name Industry Data PR4 PR5 PR6 PR7 PR8 AP1 RA1 RA2


It - Software Market Value 1,788 2,171 7,023 1,737 383 - 31,924 10,216

% of NAV 4.34% 2.56% 2.39% 3.00% 3.22% - 2.19% 2.75%


Market Value 1,376 2,256 6,878 1,651 330 - 33,012 8,253 % of NAV 3.34% 2.66% 2.34% 2.85% 2.78% - 2.26% 2.22%


Market Value - 348 2,154 293 63 - 7,602 1,584 % of NAV - 0.41% 0.73% 0.51% 0.53% - 0.52% 0.43%

Titan Company Ltd.

Consumer Durables

Market Value - - 3,133 235 - - - 1,175 % of NAV - - 1.07% 0.41% - - - 0.32%





Restaurants Market Value - - - - - - - -

% of NAV - - - - - - - -


(` ‘000)


Security Name Industry Data ASI ASR DCF SI2 SR2 SI3 SR3


It - Software

Market Value - 20,432 - - 9,833 - 13,281

% of NAV - 2.95% - - 2.77% - 3.20%


Market Value - 16,300 - - 8,253 - 10,179 % of NAV - 2.35% - - 2.33% - 2.45%


Market Value - 2,455 - - 1,425 - 2,376 % of NAV - 0.35% - - 0.40% - 0.57%

Titan Company Ltd.

Consumer Durables

Market Value - - - - 979 - 1,958 % of NAV - - - - 0.28% - 0.47%

2.00% Tata Steel Ltd. 23-04-2022

Steel Market Value - - - - - - -

% of NAV - - - - - - -




% of NAV - - - - - - -

Security Name Industry % of NAV Market Value of Investment

Net Asset Value (NAV)

Tata Consultancy Services Limited It - Software 3.07% 3,153,620 102,596,649Tata Motors Limited Automobile 2.01% 2,063,655 102,596,649Tata Steel Limited Steel 0.27% 278,043 102,596,649Titan Company Ltd. Consumer Durables 0.69% 707,387 102,596,6492.00% Tata Steel Ltd. 23-04-2022 Steel 0.32% 330,958 102,596,649Voltas Ltd. Diversified 0.08% 86,767 102,596,6499.90% Indian Hotels Ltd. 24-02-2017 Hotels & Restaurants 0.01% 10,199 102,596,649

ii) Total Funds under Management (` ‘000)

Security Name Industry Data E1 I1 L1 S1 BO BL G2 M1


It - Software Market Value 38,309 - - - - 5,746 690 -

% of NAV 4.91% - - - - 0.93% 1.40% -


Market Value 30,261 - - - - 4,402 605 - % of NAV 3.88% - - - - 0.72% 1.23% -


Market Value 7,573 - - - - 634 133 - % of NAV 0.97% - - - - 0.10% 0.27% -

Titan Company Ltd.

Consumer Durables



Market Value - 1,32,383 - - - - - - % of NAV - 5.48% - - - - - -



Restaurants Market Value - - - - - - - -

% of NAV - - - - - - - -


(` ‘000)


Industry NIC Activity Code Data TEL TIL TLL TBL TGL

Financial and insurance activities SECK

Market Value 35,44,534 1,56,831 51,329 75,374 3,64,763 % of NAV 24.72% 21.33% 36.61% 19.11% 27.77%

Manufacture of motor vehicles, trailers and semi-trailers

DIV29

Market Value - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%

Financial service activities, except insurance and Pension funding

DIV64


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%

Computer programming, consultancy and related activities

DIV62

Market Value 21,74,829 - - -

% of NAV 15.16% 0.00% 0.00% 0.00% 0.00%

Manufacture of coke and refined petroleum products

DIV27 Market Value - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%

Manufacture of Pharmaceuticals, medicinal and chemical products

DIV21


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%

Manufacture of chemicals and chemical products


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%

Electricity, gas, steam and air conditioning supply


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%

Civil engineering DIV42 Market Value - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 83,64,590 1,78,002 - 93,828 5,76,982

% of NAV 58.33% 24.21% 0.00% 23.79% 43.93%

Current Period (` ‘000)

(3.4) Industry-wise disclosure of investments (with exposure of 10% and above) segregated at scrip level. (Investment in Industries where exposure is below 10% of Net Assets of the Scheme has been grouped under the head “Others”.):

Industry NIC Activity Code Data TAL TSL TFL TCG TGE TGM

Financial and insurance activities

SECK Market Value 4,47,190 45,883 39,020 4,467 833 8,353

% of NAV 27.59% 19.98% 23.20% 11.05% 16.56% 23.56%


DIV29

Market Value - - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV64


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

(` ‘000)


Industry NIC Activity Code Data TAL TSL TFL TCG TGE TGM


DIV62

Market Value 1,62,601 - - - - 3,919

% of NAV 10.03% 0.00% 0.00% 0.00% 0.00% 11.05%


DIV27


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Manufacture of pharmaceuticals, medicinal and chemical products

DIV21


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV20


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV35


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Civil engineering DIV42 Market Value - - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 6,18,851 54,213 19,471 3,875 1,274 10,914

% of NAV 38.19% 23.61% 11.58% 9.59% 25.31% 30.79%

Industry NIC Activity Code Data TLC TSE UCX AIN ARL ITF


Market Value 18,87,332 - 2,013 - 5,54,440 1,32,758 % of NAV 24.98% 0.00% 10.04% 0.00% 22.69% 24.25%


DIV29

Market Value - 1,81,160 - - - -

% of NAV 0.00% 12.00% 0.00% 0.00% 0.00% 0.00%


DIV64

Market Value - - - - 3,28,399 -

% of NAV 0.00% 0.00% 0.00% 0.00% 13.44% 0.00%


DIV62

Market Value 11,42,536 1,78,651 - - - 87,135

% of NAV 15.12% 11.83% 0.00% 0.00% 0.00% 15.92%


DIV27 Market Value - 1,59,757 - - - -

% of NAV 0.00% 10.58% 0.00% 0.00% 0.00% 0.00%


DIV21

Market Value - 1,95,220 - - - 56,186

% of NAV 0.00% 12.93% 0.00% 0.00% 0.00% 10.26%


DIV20 Market Value - 2,07,845 - - - -

% of NAV 0.00% 13.76% 0.00% 0.00% 0.00% 0.00%

(` ‘000)

(` ‘000)


Industry NIC Activity Code Data ITT IAF ISF IBF WLE WLI


Market Value 2,96,261 24,246 10,013 19,756 31,09,629 4,80,061

% of NAV 23.79% 21.21% 12.62% 20.16% 16.98% 19.47%


DIV29 Market Value - - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV62 Market Value 1,47,927 - - - - -

% of NAV 11.88% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV35 Market Value - - - 10,028 - -

% of NAV 0.00% 0.00% 0.00% 10.23% 0.00% 0.00%


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 7,68,837 29,878 8,047 11,545 1,41,87,297 5,35,926

% of NAV 61.74% 26.14% 10.14% 11.78% 77.46% 21.73%




% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 42,55,572 4,63,919 1,973 - 7,26,585 2,39,982

% of NAV 56.33% 30.72% 9.84% 0.00% 29.74% 43.84%

(` ‘000)

(` ‘000)


Industry NIC Activity Code Data WLA WLS WLF FBP FCG FEP


Market Value 10,25,726 1,70,209 3,88,745 12,422 2,695 3,35,340

% of NAV 29.77% 23.01% 31.23% 11.61% 10.22% 24.46%Manufacture of motor vehicles, trailers and semi-trailers

DIV29


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV64


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV62

Market Value - - - - - 2,16,264

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 15.78%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV21


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 15,47,244 2,52,485 1,05,593 7,426 2,627 7,61,895

% of NAV 44.91% 34.13% 8.48% 6.94% 9.96% 55.58%

Industry NIC Activity Code Data FGP FIP FSE TIS TSS AR2


Market Value 32,209 40,530 - - - 6,64,006

% of NAV 18.07% 20.32% 0.00% 0.00% 0.00% 38.07%


DIV29 Market Value - - 26,236 23,055 8,44,505 -

% of NAV 0.00% 0.00% 12.06% 10.13% 12.58% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV62 Market Value - - 26,372 - 8,18,210 -

% of NAV 0.00% 0.00% 12.13% 0.00% 12.19% 0.00%


DIV27 Market Value - - 24,228 - 7,43,488 -

% of NAV 0.00% 0.00% 11.14% 0.00% 11.08% 0.00%

(` ‘000)

(` ‘000)


Industry NIC Activity Code Data UCS FSX PI1 PI2 PI3 PI4



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%Manufacture of motor vehicles, trailers and semi-trailers

DIV29 Market Value - 24,258 - - - -

% of NAV 0.00% 12.36% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 11.90% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 10.34% 0.00% 0.00% 0.00% 0.00%Manufacture of pharmaceuticals, medicinal and chemical products


% of NAV 0.00% 13.07% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 13.55% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 1,164 59,156 - - - -

% of NAV 16.54% 30.14% 0.00% 0.00% 0.00% 0.00%



DIV21 Market Value - - 27,584 - 8,66,092 -

% of NAV 0.00% 0.00% 12.68% 0.00% 12.91% 0.00%


DIV20 Market Value - - 29,212 - 9,43,387 -

% of NAV 0.00% 0.00% 13.43% 0.00% 14.06% 0.00%



% of NAV 0.00% 10.05% 0.00% 0.00% 0.00% 0.00%

Civil engineering DIV42 Market Value - - - 24,845 - -

% of NAV 0.00% 0.00% 0.00% 10.91% 0.00% 0.00%

Others Market Value 37,270 26,306 67,060 1,68,805 22,62,082 6,47,885

% of NAV 20.91% 13.19% 30.84% 74.15% 33.71% 37.15%

(` ‘000)

(` ‘000)


Industry NIC Activity Code Data PR1 PR2 PR3 PR4 PR5 PR6


Market Value 7,284 3,16,592 39,320 5,821 20,838 68,017 % of NAV 32.71% 32.97% 15.07% 20.00% 28.43% 30.74%


DIV29


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV64


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV62

Market Value - - - 3,283 - -

% of NAV 0.00% 0.00% 0.00% 11.28% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV21


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV35 Market Value 2,327 - - - - -

% of NAV 10.45% 0.00% 0.00% 0.00% 0.00% 0.00%


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 6,443 3,52,284 1,00,216 11,955 30,512 86,762

% of NAV 28.93% 36.68% 38.40% 41.08% 41.63% 39.21%

Industry NIC Activity Code Data PR7 PR8 AP1 RA1 RA2 ASI


Market Value 7,834 1,568 - 3,31,923 89,578 - % of NAV 15.30% 18.67% 0.00% 30.18% 31.44% 0.00%


DIV29


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV64


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV62

Market Value - 892 - - - -

% of NAV 0.00% 10.62% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

(` ‘000)

(` ‘000)


Industry NIC Activity Code Data ASR DCF SI2 SR2 SI3 SR3


Market Value 2,16,670 8,54,716 - 1,18,016 - 1,43,989 % of NAV 31.73% 26.38% 0.00% 29.49% 0.00% 30.25%


DIV29


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV64


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV62


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV21


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 3,01,089 1,95,098 - 1,73,075 - 1,99,877

% of NAV 44.10% 6.02% 0.00% 43.24% 0.00% 41.99%



DIV21


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV35 Market Value - - - 1,44,944 - -

% of NAV 0.00% 0.00% 0.00% 13.18% 0.00% 0.00%


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 17,856 2,831 - 2,98,911 1,17,190 -

% of NAV 34.87% 33.69% 0.00% 27.18% 41.13% 0.00%

(` ‘000)

(` ‘000)


IndustryNIC

Activity Code

Data MCF ICF E1 I1 L1 S1 BO BL

Financial and insurance activities

SECK

Market Value 25 19 1,36,535 4,35,155 69,965 13,715 1,35,194 1,08,218

% of NAV 18.98% 13.20% 21.51% 17.85% 33.26% 20.93% 23.12% 16.28%


DIV29

Market Value - - - - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV64

Market Value - - - - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV62

Market Value - - 1,00,170 - - - - -

% of NAV 0.00% 0.00% 15.78% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV27

Market Value - - - - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV21

Market Value - - - - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV20

Market Value - - - - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV35

Market Value - - - - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Civil engineering DIV42

Market Value - - - - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 72 74 3,58,223 6,57,800 - 9,852 92,782 92,538

% of NAV 55.19% 52.50% 56.44% 26.98% 0.00% 15.04% 15.87% 13.92%

IndustryNIC

Activity Code

Data G2 M1

Financial and insurance activities SECK Market Value - -

% of NAV 0.00% 0.00%

Manufacture of motor vehicles, trailers and semi-trailers DIV29 Market Value - -

% of NAV 0.00% 0.00%Financial service activities, except insurance and Pension funding DIV64

Market Value - - % of NAV 0.00% 0.00%

(` ‘000)

(` ‘000)


Previous year (` ’000)

IndustryNIC

Activity Code

Data TEL TIL TLL TBL TGL

Financial and insurance activities SECK Market Value 4,550,547 180,648 158,534 101,625 408,161

% of NAV 24.55% 20.47% 98.42% 24.69% 28.97%

Manufacture of motor vehicles, trailers and semi-trailers DIV29


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%Financial service activities, except insurance and Pension funding


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%

Computer programming, consultancy and related activities DIV62

Market Value 2,873,741 - - - -

% of NAV 15.51% 0.00% 0.00% 0.00% 0.00%

Manufacture of electrical equipment DIV27


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%Manufacture of pharmaceuticals, medicinal and chemical products


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%

Manufacture of chemicals and chemical products DIV20


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%

Electricity, gas, steam and air conditioning supply DIV35


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%

Civil engineering DIV42 Market Value - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 10,998,589 235,679 - 110,936 637,301

% of NAV 59.35% 26.71% 0.00% 26.95% 45.24%

IndustryNIC

Activity Code

Data G2 M1

Computer programming, consultancy and related activities DIV62 Market Value - -

% of NAV 0.00% 0.00%Manufacture of pharmaceuticals, medicinal and chemical products DIV21


Manufacture of chemicals and chemical products DIV20 Market Value - -

% of NAV 0.00% 0.00%

Electricity, gas, steam and air conditioning supply DIV35 Market Value - -

% of NAV 0.00% 0.00%

Civil engineering DIV42 Market Value - -

% of NAV 0.00% 0.00%

Others Market Value - -

% of NAV 0.00% 0.00%Note: Investment in Government Bond, Reverse Repo & T-bill not considered for Industry exposure.

(` ‘000)


IndustryNIC

Activity Code

Data TAL TSL TFL TCG TGE TGM

Financial and insurance activities SECK Market Value 555,605 75,404 85,471 9,839 928 17,188

% of NAV 27.84% 29.01% 41.71% 20.08% 15.48% 30.62%Manufacture of motor vehicles, trailers and semi-trailers DIV29

Market Value - - - - - - % of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


Market Value 203,956 - - - - 6,998% of NAV 10.22% 0.00% 0.00% 0.00% 0.00% 12.47%

Manufacture of electrical equipment DIV27


Manufacture of pharmaceuticals, medicinal and chemical products DIV21


Manufacture of chemicals and chemical products DIV20


Electricity, gas, steam and air conditioning supply DIV35



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 866,208 73,456 44,499 4,112 1,766 19,248

% of NAV 43.40% 28.26% 21.71% 8.39% 29.45% 34.30%



Market Value 2,355,125 - 5,442 - 1,207,502 224,294% of NAV 24.44% 0.00% 22.73% 0.00% 42.89% 25.23%


DIV29

Market Value - 263,819 - - - -

% of NAV 0.00% 13.35% 0.00% 0.00% 0.00% 0.00%


DIV64

Market Value - - - - 348,549 -

% of NAV 0.00% 0.00% 0.00% 0.00% 12.38% 0.00%


DIV62

Market Value 1,462,044 263,862 - - - 163,818

% of NAV 15.17% 13.35% 0.00% 0.00% 0.00% 18.43%

Manufacture of electrical equipment

DIV27 Market Value - 205,330 - - - -

% of NAV 0.00% 10.39% 0.00% 0.00% 0.00% 0.00%


DIV21

Market Value - 242,969 - - - 103,843

% of NAV 0.00% 12.30% 0.00% 0.00% 0.00% 11.68%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

(` ‘000)

(` ‘000)


Industry NIC Activity Code Data ITT IAF ISF IBF WLE WLI


Market Value 478,460 44,521 35,206 20,225 4,765,773 340,683% of NAV 24.48% 26.49% 30.86% 13.24% 22.08% 13.78%


DIV29

Market Value 219,540 - - - 2,426,398 -

% of NAV 11.23% 0.00% 0.00% 0.00% 11.24% 0.00%


DIV64


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV62

Market Value 195,753 - - - - -

% of NAV 10.02% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Manufacture of pharma ceuticals, medicinal and chemical products

DIV21


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV35 Market Value - - - - - 304,005

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 12.29%


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 1,079,257 48,945 15,364 32,338 14,266,698 424,891

% of NAV 55.23% 29.13% 13.47% 21.17% 66.11% 17.18%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 5,802,026 952,396 2,044 - 1,062,039 387,965

% of NAV 60.21% 48.20% 8.54% 0.00% 37.72% 43.65%



Market Value 1,246,022 229,362 456,472 34,819 7,198 497,124% of NAV 30.76% 26.49% 34.75% 27.47% 22.91% 26.22%


DIV29

Market Value - - - - - 202,490

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 10.68%


DIV64


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

(` ‘000)

(` ‘000)

(` ‘000)




DIV62

Market Value 411,162 - - - - 295,477

% of NAV 10.15% 0.00% 0.00% 0.00% 0.00% 15.58%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV21


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 1,515,796 305,477 329,932 10,802 2,835 903,100

% of NAV 37.42% 35.28% 25.11% 8.52% 9.02% 47.62%



Market Value 58,306 61,582 - 54,169 - 969,914% of NAV 24.16% 21.31% 0.00% 13.15% 0.00% 47.63%


DIV29

Market Value - - 39,642 56,224 1,215,802 -

% of NAV 0.00% 0.00% 12.93% 13.65% 13.33% 0.00%


DIV64


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV62 Market Value

- - 48,226 - 1,308,409 -

% of NAV 0.00% 0.00% 15.72% 0.00% 14.34% 0.00%


DIV27 Market Value - - 33,414 - 1,036,474 -

% of NAV 0.00% 0.00% 10.90% 0.00% 11.36% 0.00%


DIV21

Market Value - - 34,930 - 1,024,728 -

% of NAV 0.00% 0.00% 11.39% 0.00% 11.23% 0.00%


DIV20 Market Value - - - - 933,925 -

% of NAV 0.00% 0.00% 0.00% 0.00% 10.24% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

(` ‘000)

(` ‘000)


Industry NIC Activity Code Data UCS FSX PI1 PI2 PI3 PI4


Market Value 3,206 - - - - - % of NAV 27.81% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV29

Market Value - 45,879 - - - -

% of NAV 0.00% 13.98% 0.00% 0.00% 0.00% 0.00%


DIV64


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV62

Market Value - 55,029 - - - -

% of NAV 0.00% 16.77% 0.00% 0.00% 0.00% 0.00%


DIV27 Market Value - 38,874 - -

- -


DIV21 Market Value - 34,286 -

-

- -

% of NAV 0.00% 10.45% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 963 149,829 - - - -

% of NAV 8.36% 45.66% 0.00% 0.00% 0.00% 0.00%


Civil engineering DIV42 Market Value - - - 55,919 - -

% of NAV 0.00% 0.00% 0.00% 13.57% 0.00% 0.00%

Others Market Value 50,778 76,460 145,060 249,466 3,545,284 919,431

% of NAV 21.04% 26.46% 47.30% 60.55% 38.86% 45.15%



Market Value 10,742 538,433 64,829 9,497 30,632 115,653% of NAV 40.67% 42.14% 17.73% 23.03% 36.12% 39.39%


DIV29


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV64


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

(` ‘000)

(` ‘000)

(` ‘000)




DIV62

Market Value - - 39,998 4,829 - -

% of NAV 0.00% 0.00% 10.94% 11.71% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV21


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 11,483 634,817 133,861 17,595 44,391 135,083

% of NAV 43.48% 49.68% 36.61% 42.67% 52.34% 46.01%



Market Value 11,324 2,382 - 610,682 141,565 - % of NAV 19.56% 20.05% 0.00% 41.83% 38.12% 0.00%


DIV29


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV64


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV62

Market Value - 1,304 - - - -

% of NAV 0.00% 10.98% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV21


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV35 Market Value - - - 173,028 - -

% of NAV 0.00% 0.00% 0.00% 11.85% 0.00% 0.00%

(` ‘000)

(` ‘000)


Industry NIC Activity Code Data ASR DCF SI2 SR2 SI3 SR3


Market Value 227,656 4,465,153 - 118,080 - 141,349% of NAV 32.88% 79.44% 0.00% 33.28% 0.00% 34.04%


DIV29


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV64


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV62


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV27 Market Value

- - - - - -


DIV21 Market Value

- - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV20 Market Value

- - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV35 Market Value

- - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Civil engineering DIV42 Market Value

- - - - - -

% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 321,069 474,024

- 147,945 - 203,666

% of NAV 46.38% 8.43% 0.00% 41.69% 0.00% 49.04%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 23,466 4,243 - 577,741 175,485 -

% of NAV 40.53% 35.71% 0.00% 39.57% 47.25% 0.00%

Industry NIC Activity Code Data E1 I1 L1 S1 BO BL


Market Value 199,825 300,193 233,441 20,623 98,173 148,390% of NAV 25.62% 12.43% 96.28% 33.83% 18.47% 24.14%


DIV29


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

(` ‘000)

(` ‘000)

(` ‘000)


Industry NIC Activity Code Data E1 I1 L1 S1 BO BL


DIV64

Market Value - - - 7,107 - -

% of NAV 0.00% 0.00% 0.00% 11.66% 0.00% 0.00%


DIV62

Market Value 120,175 - - - - -

% of NAV 15.41% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV21


% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%



% of NAV 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%


DIV35 Market Value - 267,167 - - - -

% of NAV 0.00% 11.06% 0.00% 0.00% 0.00% 0.00%

Civil engineering DIV42 Market Value 78,380 - - - - -

% of NAV 10.05% 0.00% 0.00% 0.00% 0.00% 0.00%

Others Market Value 377,390 429,244 - 9,061 144,717 89,255

% of NAV 48.39% 17.77% 0.00% 14.86% 27.23% 14.52%

Industry NIC Activity Code Data G2 M1

Financial and insurance activities SECK Market Value 11,340 -

% of NAV 23.05% 0.00%

Manufacture of motor vehicles, trailers and semi-trailers DIV29 Market Value - -

% of NAV 0.00% 0.00%Financial service activities, except insurance and Pension funding DIV64




Manufacture of electrical equipment DIV27 Market Value - -

% of NAV 0.00% 0.00%

Manufacture of pharmaceuticals, medicinal and chemical products DIV21

Market Value - -

% of NAV 0.00% 0.00%

Manufacture of chemicals and chemical products DIV20 Market Value - -

% of NAV 0.00% 0.00%

Electricity, gas, steam and air conditioning supply DIV35 Market Value - -

% of NAV 0.00% 0.00%

Civil engineering DIV42 Market Value - -

% of NAV 0.00% 0.00%

Others Market Value 10,518 -

% of NAV 21.38% 0.00%

(` ‘000)

(` ‘000)

Note: Investment in Government Bond, Reverse Repo & T-bill not considered for Industry exposure.


(3.5) Unclaimed redemptions – Not applicable

(3.6) NAV : Highest, Lowest and Closing at the end of the period

Current Period (`)

TEL TIL TLL TBL TGL TAL TSL TFL TCG TGE High 52.0476 22.1814 21.9463 30.6480 39.1107 24.8173 23.1396 20.0866 17.0795 16.6312 Low 41.6951 20.5762 20.4802 28.7251 34.8003 21.9593 21.5396 18.6591 16.1244 15.3669 Close (Mar 31, 2016) 46.1961 22.1814 21.9463 30.4071 37.4842 23.6921 22.9003 20.0866 17.0795 16.2870

TGM TLC IAF IBF ISF ITF ITT TSE UCX WLE High 14.8880 19.3119 17.0969 17.1895 16.5543 27.9574 34.8127 35.2231 15.2166 34.6394 Low 13.1250 15.5366 15.8495 15.9836 15.5936 22.7612 28.1223 28.9373 14.4782 27.3300 Close (Mar 31, 2016) 14.1833 17.1528 16.8434 17.1895 16.5543 25.1619 30.9716 31.4720 15.2166 30.7856

WLI WLA WLS WLF FBP FCG FEP FGP FIP FSE High 20.2241 24.7160 20.8689 19.6459 17.9759 16.7006 21.3513 18.0656 18.5847 34.2203 Low 18.7527 21.7818 19.2801 18.1991 16.8873 15.7629 17.3613 16.9351 17.2061 28.2857 Close (Mar 31, 2016) 20.2241 23.5891 20.5986 19.6459 17.9759 16.7006 19.2424 17.9503 18.5847 30.8222

AIN ARL TIS TSS AR2 UCS FSS PI1 PI2 PI3 High 10.0000 17.4013 15.7483 23.4897 16.4008 15.4155 22.2670 10.0000 10.0049 10.0159 Low 9.9974 16.6373 11.8498 19.2530 15.6466 14.5570 18.3371 9.9964 9.9924 9.9918 Close (Mar 31, 2016) 10.0000 17.3605 13.5630 21.0235 16.3381 15.4155 19.9407 10.0000 10.0000 10.0000

PI4 PR1 PR2 PR3 PR4 AP1 RA1 PR5 PR6 PR7 High 10.0160 16.1643 16.1988 16.2906 16.8758 10.0000 16.1307 14.7315 14.6856 15.0912 Low 9.9844 15.2760 15.2290 14.6620 14.6989 9.9938 15.1780 13.8275 13.7065 13.6109 Close (Mar 31, 2016) 10.0160 16.0101 15.9924 15.6618 15.8697 10.0000 15.9283 14.5321 14.4186 14.5330

PR8 RA2 DCF ASI ASR SI2 SR2 SI3 SR3 MCF ICF High 15.2557 14.4768 15.1955 10.0721 15.3620 10.0553 16.4411 10.0957 16.0785 10.1308 10.1133 Low 13.3265 13.5383 14.0544 9.9939 14.1483 9.9966 15.0973 9.9864 14.6559 8.8962 9.1796 Close (Mar 31, 2016)

14.3317 14.2354 15.1955 10.0087 14.9447 10.0065 15.9373 10.0957 15.4971 9.7097 9.7136

E1 I1 L1 S1 BO BL G2 M1High 56.0760 23.1399 22.3757 19.7494 19.7790 18.7196 17.8892 10.0000Low 44.7369 21.4612 20.8832 18.3479 18.3271 17.6450 10.0000 10.0000Close (Mar 31, 2016) 49.5275 23.1399 22.3757 19.7494 19.7790 18.7196 10.0000 10.0000

Previous Year (`)TEL TIL TLL TBL TGL TAL TSL TFL TCG TGE

High 52.5454 20.6843 20.4758 30.6692 39.4786 24.9548 23.1358 18.6553 16.5403 16.5513 Low 38.9705 17.7528 18.9193 24.7523 29.6233 18.6745 18.4448 17.0807 14.1651 13.2106 Close (March 31, 2015) 49.9858 20.6843 20.4758 30.0969 38.1632 24.2072 22.6667 18.6553 16.398 16.2481


(3.7) Expenses charged to Fund

Annualized expense ratio to average daily assets of the schemeCurrent Year

Fund Name TEL TIL TLL TBL TGL TAL TSL TFL WLE WLI WLA WLS WLF

Ratio ( %) 1.75 1.25 0.90 1.40 1.60 1.60 1.40 0.90 1.20 0.80 1.10 1.00 0.65

Fund Name TCG TGE TGM TLC TSE UCX ITF ITT ICF IAF ISF IBF AIN ARL MCF

Ratio ( %) 1.50 1.40 1.60 1.20 1.45 2.24 1.20 1.20 1.20 1.20 1.20 1.20 0.90 1.45 1.19

Fund Name AR2 TIS TSS UCS AP1 RA1 RA2 DCF ASI ASR SI2 SR2 SI3 SR3

Ratio ( %) 1.45 1.20 1.20 1.20 0.82 1.20 1.20 - 0.83 1.35 0.87 1.35 0.88 1.35

Fund Name E1 I1 L1 S1 BO BL G2 M1 FBP FCG FEP FGP FIP FSE

Ratio ( %) 0.81 0.37 0.41 0.22 0.58 0.41 0.75 - 1.05 1.50 1.25 1.10 1.00 1.45

Fund Name FSS PI1 PI2 PI3 PI4 PR1 PR2 PR3 PR4 PR5 PR6 PR7 PR8

Ratio ( %) 1.25 0.78 0.87 0.83 0.87 1.20 1.20 1.20 1.20 1.20 1.20 1.20 1.20

TGM TLC IAF IBF ISF ITF ITT TSE UCX WLE High 15.0924 19.3767 17.1340 16.0661 16.0617 28.1971 34.1171 34.5349 14.8648 32.6929 Low 11.5404 13.9203 13.6976 13.8106 13.5260 20.9646 22.7300 22.6581 12.8203 18.0238 Close (March 31, 2015) 14.5069 18.5280 16.8113 16.0661 15.9099 26.8745 33.3447 33.6608 14.7291 32.0154

WLI WLA WLS WLF FBP FCG FEP FGP FIP FSEHigh 18.8427 24.8281 20.7933 18.1952 17.2445 16.1779 21.4069 17.8917 17.2979 33.8323Low 16.1245 18.1701 16.2660 16.6086 14.5771 13.7045 15.0429 14.7639 14.8299 21.7500Close (March 31, 2015) 18.8427 24.1368 20.4494 18.1952 17.1452 16.0325 20.5783 17.6419 17.2979 32.9237

AIN ARL TIS TSS AR2 UCS FSS PI1 PI2 PI3High 10.0108 17.2995 15.7411 22.9766 16.2677 14.9106 21.9514 10.0000 10.0230 10.1890Low 9.9969 14.1411 10.1341 14.8435 13.3141 12.6404 14.0423 9.9870 9.9923 9.9961Close (March 31, 2015) 10.0000 17.0394 15.2855 22.3586 16.0361 14.7892 21.4412 10.0000 9.9981 10.0072

PI4 PR1 PR2 PR3 PR4 AP1 RA1 PR5 PR6 PR7High 10.0276 16.1742 16.1778 16.3465 17.0422 10.0244 16.1256 14.7609 14.7105 15.1830Low 9.9916 12.8846 12.8273 12.6603 12.9270 9.9920 12.8713 11.6888 11.6797 11.7519Close (March 31, 2015) 10.0032 15.8887 15.8962 15.9054 16.4690 10.0000 15.8288 14.4644 14.3830 14.7401

PR8 RA2 DCF ASI ASR SI2 SR2 SI3 SR3High 15.3521 14.4981 14.0512 10.0617 15.4269 10.0693 16.4617 10.0730 16.1424Low 11.7767 11.5314 12.8834 9.9964 12.0919 9.9942 12.9155 9.9932 12.5463Close (March 31, 2015) 14.8500 14.2012 14.0512 10.0186 15.0432 9.9987 16.0940 10.0141 15.6902

E1 I1 L1 S1 BO BL G2 M1High 56.4163 21.5690 20.8787 18.3442 18.4293 18.0283 17.6259 12.5298Low 42.0734 18.5026 19.2780 16.7941 15.8158 15.2831 14.7690 10.0000 Close (March 31, 2015) 53.9060 21.5690 20.8787 18.3442 18.4293 17.9251 17.3741 10.0000

(`)


Previous Year

Fund Name TEL TIL TLL TBL TGL TAL TSL TFL WLE WLI WLA WLS WLF TCG

Ratio ( %) 1.75 1.25 0.90 1.40 1.60 1.60 1.40 0.90 1.20 0.80 1.10 1.00 0.65 1.5

Fund Name TGE TGM TLC TSE UCX ITF ITT IAF ISF IBF AIN ARL AR2 TIS

Ratio ( %) 1.40 1.60 1.20 1.45 2.25 1.20 1.20 1.20 1.20 1.20 0.90 1.45 1.45 1.20

Fund Name TSS UCS AP1 RA1 RA2 DCF ASI ASR SI2 SR2 SI3 SR3 E1 I1

Ratio ( %) 1.20 1.20 0.89 1.20 1.20 - 0.90 1.35 0.86 1.35 0.90 1.35 0.93 0.37

Fund Name L1 S1 BO BL G2 M1 FBP FCG FEP FGP FIP FSE FSS PI1

Ratio ( %) 0.41 0.35 0.57 0.43 0.74 0.69 1.05 1.50 1.25 1.10 1.00 1.45 1.25 0.90

Fund Name PI2 PI3 PI4 PR1 PR2 PR3 PR4 PR5 PR6 PR7 PR8

Ratio ( %) 0.89 0.89 0.89 1.20 1.20 1.20 1.20 1.20 1.20 1.20 1.20

(3.8) Ratio of gross income (including unrealized gains) to average daily net assets:

Fund Name TGE TGM TLC IAF IBF ISF ITF ITT TSE

Ratio ( %) 1.92% -0.78% -6.50% 1.23% 7.81% 5.00% -5.46% -5.72% -4.94%

Current Period

Fund Name TEL TIL TLL TBL TGL TAL TSL TFL TCG

Ratio ( %) -6.11% 8.30% 7.98% 2.56% 0.00% -0.49% 2.52% 8.42% 5.62%

Fund Name UCX WLE WLI WLA WLS WLF FBP FCG FEP

Ratio ( %) 5.71% -2.34% 8.00% -1.19% 1.73% 8.42% 5.74% 5.67% -5.39%

Fund Name FGP FIP FSE AIN ARL TIS TSS AR2 UCS

Ratio ( %) 2.71% 8.07% -4.96% 0.00% 3.43% -10.91% -4.75% 3.42% 5.17%

Fund Name FSS PI1 PI2 PI3 PI4 PR1 PR2 PR3 PR4

Ratio ( %) -5.79% N.A. 1.57% 2.84% 2.04% 2.03% 1.80% -0.25% -2.74%

Fund Name AP1 RA1 PR5 PR6 PR7 PR8 RA2 DCF ASI

Ratio ( %) 0.00% 1.81% 1.76% 1.32% -0.07% -2.56% 1.42% 7.88% 5.26%

Fund Name ASR SI2 SR2 SI3 SR3 MCF ICF E1 I1 L1 S1

Ratio ( %) 0.60% 4.98% 0.71% 4.93% 0.63% 1.93% -0.38% -6.96% 8.18% 7.97% 8.42%

Fund Name BO BL G2 M1

Ratio ( %) 8.24% 5.58% 0.65% N.A

Previous Year

Fund Name TEL TIL TLL TBL TGL TAL TSL TFL TCG

Ratio ( %) 27.15% 15.75% 8.93% 20.41% 26.43% 27.80% 22.00% 9.84% 15.62%


Fund Name TGE TGM TLC IAF IBF ISF ITF ITT TSE

Ratio ( %) 21.18% 25.49% 29.70% 21.48% 15.59% 17.11% 26.13% 38.32% 41.25%

Fund Name UCX WLE WLI WLA WLS WLF FBP FCG FEP

Ratio ( %) 15.91% 56.41% 15.64% 29.02% 23.46% 9.84% 16.72% 16.69% 32.34%

Fund Name FGP FIP FSE AIN ARL TIS TSS AR2 UCS

Ratio ( %) 18.69% 15.62% 42.34% 3.39% 20.16% 42.46% 40.81% 20.31% 16.61%

Fund Name FSS PI1 PI2 PI3 PI4 PR1 PR2 PR3 PR4

Ratio ( %) 42.92% 0.00% 2.66% 6.20% 3.81% 21.78% 22.29% 23.22% 25.49%

Fund Name AP1 RA1 PR5 PR6 PR7 PR8 RA2 DCF ASI

Ratio ( %) 3.07% 21.41% 22.03% 21.35% 22.21% 22.86% 21.33% 8.69% 6.04%

Fund Name ASR SI2 SR2 SI3 SR3 E1 I1 L1 S1

Ratio ( %) 22.39% 5.60% 22.01% 6.01% 22.25% 25.82% 15.69% 9.02% 9.81%

Fund Name BO BL G2 M1

Ratio ( %) 15.58% 16.46% 16.83% 12.84%

(3.9) Provision for doubtful debts on assets of the scheme: The Company has made no provisions for doubtful debts for the year ended March 31, 2016


Current year (` ‘000)

Fund Wise TEL TIL TLL TBL TGL TAL TSL TFL TCG TGE

Equity-URCG 37,17,191 - - 46,121 1,97,988 3,26,615 31,945 - 1,004 747

Equity-URCL - - - - - - - - - -

GSEC-URCG - 5,062 - 1,802 3,017 3,268 853 400 78 7

GSEC-URCL - - - - - - - - - -

CORP BOND-URCG - 12,136 - 191 381 7,144 - 170 - -

CORP BOND-URCL - - - - - - - - - -

INFRA BOND-URCG - 2,799 - - 1,004 3,567 - 14 - -

INFRA BOND-URCL - - - - - - - - - -

MUTUAL Fund-URCG - - - - - - - - - -

MUTUAL Fund-URCL - - - - - - - - - -

Pref. Shares-URCG - - - - - - - - - -

Pref. Shares-URCL - - - - - - - - - -

Fund Wise TGM TLC TSE UCX ITF ITT IAF ISF IBF

Equity-URCG 8,653 17,28,647 2,41,065 484 1,23,582 4,06,510 13,680 3,370 -

Equity-URCL - - - - - - - - -

GSEC-URCG 126 - - 68 - - 610 461 668

GSEC-URCL - - - - - - - - -

CORP BOND-URCG - - - - - - - -

77

CORP BOND-URCL - - - - - - - - -

INFRA BOND-URCG - - - - - - - - 316

INFRA BOND-URCL - - - - - - - - -

MUTUAL Fund-URCG - - - - - - - - -

MUTUAL Fund-URCL - - - - - - - - -

Pref. Shares-URCG - - - - - - - - -

Pref. Shares-URCL - - - - - - - - -

(3.10) Fund wise disclosure of appreciation and/or depreciation in value of investments as on March 31, 2016, segregated class wise:

(` ‘000)


Fund Wise FEP FGP FIP FSE TIS TSS AR2 UCS FSX

Equity-URCG 3,36,953 20,887 - 35,304 56,322 10,02,437 1,79,179 152 33,016

Equity-URCL - - - - - - - - -

GSEC-URCG - 898 1,369 - - - 4,655 49 -

GSEC-URCL - - - - - - - - -

CORP BOND-URCG - - 3,668 - - - 35,547 -

-

CORP BOND-URCL - - - - - - - - -

INFRA BOND-URCG - - 795 - 632 - 16,648 - -

INFRA BOND-URCL - - - - - - - - -





Fund Wise AIN ARL WLE WLI WLA WLS WLF FBP FCG

Equity-URCG - 2,30,176 49,46,178 - 5,42,246 87,675 - 3,576 632

Equity-URCL - - - - - - - - -

GSEC-URCG - 9,599 - 15,930 8,340 2,714 2,420 782 79

GSEC-URCL - - - - - - - - -

CORP BOND-URCG - 12,512 - 39,611 4,417 541 2,538 -

-

CORP BOND-URCL - - - - - - - - -

INFRA BOND-URCG - 88,370 - 6,227 1,972 3,457 495 - -

INFRA BOND-URCL - - - - - - - - -





(` ‘000)

(` ‘000)


Fund Wise PI1 PI2 PI3 PI4 PR1 PR2 PR3 PR4 AP1

Equity-URCG - - - - 2,918 1,18,722 43,158 6,853 -

Equity-URCL - - - - - - - - -

GSEC-URCG - - - - 132 4,533 2,470 134 -

GSEC-URCL - - - - - - - - -

CORP BOND-URCG - - - - 19 1,249 - -

-

CORP BOND-URCL - - - - - - - - -

INFRA BOND-URCG - - - - 157 5,606 329 122 -

INFRA BOND-URCL - - - - - - - - -





(` ‘000)

Fund Wise RA1 PR5 PR6 PR7 PR8 RA2 DCF ASI ASR

Equity-URCG 1,40,041 7,290 25,418 7,619 1,630 33,205 - - 82,745

Equity-URCL - - - - - - - - -

GSEC-URCG 3,508 357 1,150 690 79 1,220 - - 3,279

GSEC-URCL - - - - - - - - -

CORP BOND-URCG 1,398 183 153 - - 209 - - 386

CORP BOND-URCL - - - - - - - - -

INFRA BOND-URCG 9,240 490 1,507 - - 2,145 - - 3,887

INFRA BOND-URCL - - - - - - - - -





(` ‘000)


Fund Wise SI2 SR2 SI3 SR3 MCF ICF E1 I1 L1 S1 BOEquity-URCG - 46,408 - 52,608 1 - 1,30,490 - - - - Equity-URCL - - - - - (1) - - - - - GSEC-URCG - 2,713 - 2,242 - - - 15,575 - 153 3,945GSEC-URCL - - - - - - - - - - - CORP BOND-URCG - 183 - 325 - - - 41,073 - 26 307

CORP BOND-URCL - - - - - - - - - - -

INFRA BOND-URCG - 1,664 - 2,143 - - - 10,263 - 0 1,969

INFRA BOND-URCL - - - - - - - - - - -

MUTUAL Fund-URCG - - - - - - - - - - -

MUTUAL Fund-URCL - - - - - - - - - - -

Pref. Shares-UR-CG - - - - - - - - - - -

Pref. Shares-UR-CL - - - - - - - - - - -

Previous Year (` ‘000)Fund Wise TEL TIL TLL TBL TGL TAL TSL TFL TCG TGEEquity-URCG 7,283,575 - - 75,202 375,428 650,887 50,476 - 2,251 1,100Equity-URCL - - - - - - - - - - GSEC-URCG - 10,237 - 2,671 5,098 6,321 899 352 314 27GSEC-URCL - - - - - - - - - -CORP BOND-URCG - 13,721 - 217 433 6,056 - 637 - - CORP BOND-URCL - - - - - - - - - - INFRA BOND-URCG - 4,532 - 399 1,844 5,931 908 1,359 76 - INFRA BOND-URCL - - - - - - - - - - MUTUAL Fund-URCG - - - - - - - - - - MUTUAL Fund-URCL - - - - - - - - - - Pref. Shares-URCG 8,951 - - - - - - - - - Pref. Shares-URCL - - - - - - - - - -

(` ‘000)

Fund Wise BL G2 M1Equity-URCG 26,230 - - Equity-URCL - - - GSEC-URCG 4,252 - - GSEC-URCL - - - CORP BOND-URCG 229 - - CORP BOND-URCL - - - INFRA BOND-URCG 269 - - INFRA BOND-URCL - - - MUTUAL Fund-URCG - - - MUTUAL Fund-URCL - - - Pref. Shares-URCG - - - Pref. Shares-URCL - - -

(` ‘000)


Fund Wise FEP FGP FIP FSE TIS TSS AR2 UCS FSX

Equity-URCG 703,077 33,761 - 115,259 166,816 3,025,768 345,568 558 128,429

Equity-URCL - - - - - - - - -

GSEC-URCG - 1,395 2,281 - - - - 135 -

GSEC-URCL - - - - - - - - -

CORP BOND-URCG - - 2,957 - - - 31,362 - -

CORP BOND-URCL - - - - - - - - -

INFRA BOND-URCG - 303 1,919 - 634 - 22,860 42 -

INFRA BOND-URCL - - - - - - - - -



Pref. Shares-URCG 689 - - - - - - - -


Fund Wise TGM TLC TSE UCX ITF ITT IAF ISF IBF

Equity-URCG 17,283 3,446,888 716,181 1,211 298,701 903,064 26,984 8,043 -

Equity-URCL - - - - - - - - -

GSEC-URCG 271 - - 196 - - 1,634 1,292 1,173

GSEC-URCL - - - - - - - - -

CORP BOND-URCG - - - - - - - - 105

CORP BOND-URCL - - - - - - - - -

INFRA BOND-URCG 43 - - 43 - - 216 517 875

INFRA BOND-URCL - - - - - - - - -



Pref. Shares-URCG - 4,234 - - - 1,176 - - -


(` ‘000)

Fund Wise AIN ARL WLE WLI WLA WLS WLF FBP FCG

Equity-URCG - 463,715 10,302,518 - 1,178,168 153,897 - 6,482 1,546

Equity-URCL - - - - - - - - -

GSEC-URCG - 529 - 27,551 12,972 4619 3,537 1,315 227

GSEC-URCL - - - - - - - - -

CORP BOND-URCG - 10,637 - 38,106 3,755 905 3,760 - -

CORP BOND-URCL - - - - - - - - -

INFRA BOND-URCG - 100,825 - 14,819 7,360 4,257 3,960 517 74

INFRA BOND-URCL - - - - - - - - -



Pref. Shares-URCG - - 16,397 - - - - - -


(` ‘000)

(` ‘000)


Fund Wise RA1 PR5 PR6 PR7 PR8 RA2 DCF ASI ASR

Equity-URCG 304,173 15,421 58,182 11,998 2,930 73,309 - - 142,958

Equity-URCL - - - - - - - - -

GSEC-URCG 1,714 137 481 680 137 635 - - 1,998

GSEC-URCL - - - - - - - - -

CORP BOND-URCG 4,578 361 717 - - 570 - - 1,379

CORP BOND-URCL - - - - - - - - -

INFRA BOND-URCG 13,894 746 2,209 - - 2,953 - - 3,608

INFRA BOND-URCL - - - - - - - - -





Fund Wise PI1 PI2 PI3 PI4 PR1 PR2 PR3 PR4 AP1

Equity-URCG - - - - 5,619 274,566 88,685 12,795 -

Equity-URCL - - - - - - - - -

GSEC-URCG - - - - 132 1,963 2,423 386 -

GSEC-URCL - - - - - - - - -

CORP BOND-URCG - - - - 11 4,444 - - -

CORP BOND-URCL - - - - - - - - -

INFRA BOND-URCG - - - - 200 10,921 483 130 -

INFRA BOND-URCL - - - - - - - - -





(` ‘000)

(` ‘000)

Fund Wise SI2 SR2 SI3 SR3 E1 I1 L1 S1 BO

Equity-URCG - 75,370 - 85,665 259,003 - - - -

Equity-URCL - - - - - - - - -

GSEC-URCG - 1,885 - 1073 - 27,063 - 116 4,183

GSEC-URCL - - - - - - - - -

CORP BOND-URCG - 242 - 370 - 39,382 - 95 2,977

CORP BOND-URCL - - - - - - - - -

INFRA BOND-URCG - 1,676 - 2,118 - 15,438 - 356 3,370

INFRA BOND-URCL - - - - - - - - -



Pref. Shares-URCG - - - - 276 - - - -


(` ‘000)


(3.11) Name and SFINs for all existing Unit Linked Funds :

Individual Unit Linked FundsDescription Segregated Fund Identification Number (SFIN)Life Equity Fund ULIF 001 04/02/04 TEL 110Life Income Fund ULIF 002 04/02/04 TIL 110Life Liquid Fund ULIF 003 04/02/04 TLL 110Life Growth Fund ULIF 004 04/02/04 TGL 110Life Balanced Fund ULIF 005 04/02/04 TBL 110Life Aggressive Growth Fund ULIF 006 01/07/06 TAL 110Life Stable Growth Fund ULIF 007 01/07/06 TSL 110Life Short Term Fixed Income Fund ULIF 008 01/07/06 TFL 110Whole Life Mid Cap Equity Fund ULIF 009 04/01/07 WLE 110Whole Life Aggressive Growth Fund ULIF 010 04/01/07 WLA 110Whole Life Stable Growth Fund ULIF 011 04/01/07 WLS 110Whole Life Income Fund ULIF 012 04/01/07 WLI 110Whole Life Short Term Fixed Income Fund ULIF 013 04/01/07 WLF 110Life Cap Guarantee Fund ULIF 014 17/10/07 TCG 110Growth Enabler Fund ULIF 015 17/10/07 TGE 110Life Growth Maximizer Fund ULIF 016 17/10/07 TGM 110Large Cap Equity Fund ULIF 017 07/01/08 TLC 110Future Balanced Pension Fund ULIF 018 04/02/08 FBP 110Future Capital Guarantee Pension Fund ULIF 019 04/02/08 FCG 110Future Equity Pension Fund ULIF 020 04/02/08 FEP 110Future Growth Pension Fund ULIF 021 04/02/08 FGP 110Future Income Pension Fund ULIF 022 04/02/08 FIP 110Future Select Equity Fund. ULIF 023 06/10/08 FSE 110Select Equity Fund ULIF 024 06/10/08 TSE 110110% Capital Guarantee Fund ULIF 025 10/11/08 UCX 110Top-50 Fund ULIF 026 12/01/09 ITF 110Top-200 Fund ULIF 027 12/01/09 ITT 110Aggressive Flexi Fund ULIF 028 12/01/09 IAF 110Stable Flexi Fund ULIF 029 12/01/09 ISF 110Bond Fund ULIF 030 12/01/09 IBF 110

Fund Wise BL G2 M1

Equity-URCG 36,362 5,338 - Equity-URCL - - - GSEC-URCG 5,879 463 - GSEC-URCL - - - CORP BOND-URCG 1,553 - - CORP BOND-URCL - - - INFRA BOND-URCG 2,014 144 -INFRA BOND-URCL - - -MUTUAL Fund-URCG - - - MUTUAL Fund-URCL - - - Pref. Shares-URCG - - - Pref. Shares-URCL - - -

(` ‘000)


Description Segregated Fund Identification Number (SFIN)Apex Investment Fund ULIF 031 18/02/09 AIN 110Apex Return Lock-In Fund ULIF 032 18/02/09 ARL 110Apex Return Lock-In Fund II ULIF 033 03/08/09 AR2 110Infrastructure Fund ULIF 034 16/10/09 TIS 110Super Select Equity Fund ULIF 035 16/10/09 TSS 110Super 110% Capital Guarantee Fund ULIF 036 23/11/09 UCS 110Super Select Equity Pension Fund ULIF 037 04/01/10 FSS 110Apex Pension Investment Fund ULIF 038 20/01/10 PI1 110Apex Pension 10 Investment Fund ULIF 039 20/01/10 PI2 110Apex Pension 15 Investment Fund ULIF 040 20/01/10 PI3 110Apex Pension 20 Investment Fund ULIF 041 20/01/10 PI4 110Apex Pension Return Lock-In Fund ULIF 042 20/01/10 PR1 110Apex Pension 10 Return Lock-In Fund ULIF 043 20/01/10 PR2 110Apex Pension 15 Return Lock-In Fund ULIF 044 20/01/10 PR3 110Apex Pension 20 Return Lock-In Fund ULIF 045 20/01/10 PR4 110Apex Plus Investment Fund ULIF 046 01/02/10 AP1 110Apex Plus Return Lock-In Fund ULIF 047 01/02/10 RA1 110Apex Pension Return Lock-In Fund II ULIF 048 01/07/10 PR5 110Apex Pension 10 Return Lock-In Fund II ULIF 049 01/07/10 PR6 110Apex Pension 15 Return Lock-In Fund II ULIF 050 01/07/10 PR7 110Apex Pension 20 Return Lock-In Fund II ULIF 051 01/07/10 PR8 110Apex Plus Return Lock-In Fund II ULIF 052 01/07/10 RA2 110Discontinued Policy Fund ULIF 053 07/01/11 DCF 110Apex Supreme Investment Fund ULIF 054 01/02/11 ASI 110Apex Supreme Return Lock In Fund ULIF 055 01/02/11 ASR 110Apex Supreme Investment Fund II ULIF 056 01/07/11 SI2 110Apex Supreme Return Lock In Fund II ULIF 057 01/07/11 SR2 110Apex Supreme Investment Fund III ULIF 058 01/11/11 SI3 110Apex Supreme Return Lock In Fund III ULIF 059 01/11/11 SR3 110Multi Cap Fund ULIF 060 15/07/14 MCF 110India Consumption Fund ULIF 061 15/07/14 ICF 110

Group FundsDescription Segregated Fund Identification Number (SFIN)Equity Fund ULGF 001 02/03/04 E1 110Income Fund ULGF 002 02/03/04 I1 110Liquid Fund ULGF 003 02/03/04 L1 110Short Term Fixed Income Fund ULGF 004 01/07/06 S1 110Bond Fund ULGF 005 17/08/07 BO 110Balanced Fund ULGF 006 17/08/07 BL 110Growth Fund ULGF 007 17/08/07 G2 110Maxima Fund ULGF 008 17/08/07 M1 110


26. Taxation

i) The Company carries on life insurance business and therefore the provisions of Section 44 read with the First Schedule to the Income-tax Act, 1961, are applicable for computation of profit and gains from business. During the year, the Company has made provision for tax (net) amounting to ` 528,787 thousand (Previous year: ` 467,039 thousand), ` 463,928 thousand (Previous year: ` (17,557) thousand) (credited) to the Revenue Account and ` 64,859 thousand (Previous year: ` 484,596 thousand) charged in the Profit and Loss Account, in accordance with the Income tax Act, 1961 and Rules and Regulations there under as applicable to the Company. The company has also made advance tax payment of ` 400,000 thousand (Previous year: ` 632,500 thousand) to the Income Tax Authorities based on estimated taxable income.

In view of the order passed by the commissioner of income tax (appeals) and judgment delivered by Tax Appellate Authorities clarifying the manner of assessment of taxable income of Life Insurance companies, in accordance with the Accounting Standards (AS) 22, “Accounting for Taxes on Income”, the Company has reassessed the unrecognized deferred tax asset on carried forward losses in each line of business (segments) and has recognized previously unrecognized deferred tax assets to the extent that it has become virtually certain that sufficient taxable income is available against which the deferred tax asset can be utilized.

IRDAI Financial Statements Regulations vide Form A-RA and Part V of schedule A, requires tax expense to be charged to each line of business (segments). Accordingly, the Company has charged tax expense on respective lines of business, based on taxable income computed arising out of the actuarial surplus of each line of business. In order to maintain equity amongst the various segments, the said taxable income is calculated after considering the brought forward tax losses and exempt income, if any, based on the appeal orders, as considered appropriate, for each line of business as disclosed in Segmental Accounts in Annexure 2

As at March 31, 2016, deferred tax asset on carry forward unabsorbed losses is ` NIL (Previous year: ` NIL).

(ii) The company has filed an appeal before the CESTAT (Appellate Authority) on matters relating to Service Tax. As per the provisions amended by Finance Act, 2014, the company has paid ` 16,336 thousand (Previous year: ` 93,308 thousand) as pre-deposit for admitting the appeal with the Appellate Authority.

27. Employee Benefits

Following are the disclosures required by Accounting Standard-15:

a) Defined Contribution Plans

The Company has made contributions towards Employees’ Provident Fund Scheme and Employees’ Superannuation Scheme amounting to ` 70,283 thousand (Previous year: ` 59,781 thousand) and ` 38,931 thousand (Previous year: ` 37,499 thousand) respectively which have been recognized as an expense during the year.

b) Defined Benefit Plan:

• General description of defined benefit plan

Gratuity Scheme:

The Company has a Gratuity scheme for its qualifying employees, which is funded by contributions to the “Tata AIG Comprehensive Gratuity Scheme”. The scheme provides for payment of a defined benefit to the qualifying employees at retirement, death while in employment or on termination of employment. The benefit vests after five years of continuous service.

i) Actuarial Assumptions with respect to Gratuity:

Particulars Current Year Previous Yeara. Discount rate (per annum)

7.81% 7.91%

b. Estimate rate of return on plan assets (per annum)

7.81% 7.91%

c. Salary Growth Rate (per annum)

6.00% 8.00%

d. Attrition Rate (per annum)

For service 4 yrs and below 15% p.a. and

for service 5 yrs and above 2%

p.a.

For service 4 yrs and below 15% p.a. and

for service 5 yrs and above 2%

p.a.e. Mortality Rate

IALM (2006-08) Ultimate

IALM (2006-08) Ultimate

The following tables sets out the status of the Gratuity scheme as at March 31, 2016 and March 31, 2015.

ii) Amount to be recognized in the Balance Sheet:

(` ‘000)Particulars As at

Current Year Previous YearPresent Value of Funded Obligations

90,175 102,268

Fair Value of Plan Assets 97,658 98,417

Present Value of Unfunded Obligations

- -


Particulars As atCurrent Year Previous Year

Unrecognized Past Service Cost

- -

Amount not Recognized as an Asset

- -

Net Liability/(Asset) (7,482) 3,851

Amounts in Balance SheetLiability (7,482) 3,851Asset - -Net Liability/(Asset) (7,482) 3,851

iii) Expenses to be recognized in the statement of Revenue Account:

(` ‘000)

ParticularsYear ended

Current Year

Previous Year

Current Service Cost 17,436 14,016 Net Interest Cost 305 (1,041) Net Actuarial Losses/(Gains) Recognised in period

(27,410) 19,639

Total Included in "Employees’ remuneration and welfare benefits"

(9,669) 32,614

Actual Return on Plan Assets 6,513 8,100

iv) Reconciliation of Benefits Obligation & Plan Assets for the year:

(` ‘000)

ParticularsYear ended

Current Year

Previous Year

Change in Defined Benefit ObligationOpening Defined Benefit Obligation 1,02,268 82,708

Current Service Cost 17,436 14,016 Interest Cost 8,089 7,667 Actuarial Losses/(Gains) (28,682) 19,030 Benefits Paid (8,936) (21,155)Closing Defined Benefit Obligation 90,175 1,02,268

Change in Fair Value of AssetsOpening Fair Value of Plan Assets 98,417 96,117

Expected Return on Plan Assets 7,785 8,708

Actuarial Gain/(Losses) (1,272) (608)Assets Distributed on Settlements - -

Contributions by Employer 1,664 15,354 Assets acquired on Acquisition/(distributed on Divestiture)

- -

Exchange Difference on Foreign Plans - -

Benefits Paid (8,936) (21,155)Closing Fair Value of Plan Assets 97,658 98,417

Expected Employer’s Contribution next year 6,916 21,287

v) Asset Information:(` ‘000)

Category of Assets (% Allocation) Current Year Current Year % Previous Year Previous Year %

Government of India Securities - - - -

Corporate Bonds - - - -

Special Deposit Scheme - - - -

Equity Shares of Listed Companies - - - -

Property - - - -

Insurer Managed Funds 97,658 100% 98,417 100%

Note: Gratuity fund is managed by the Company hence the entire amount is shown in Insurer Managed Fund.


vi) Experience Adjustment

(` ‘000)Particulars 2016 2015 2014 2013 2012

Defined Benefit Obligation 90,175 102,268 82,708 92,318 92,478

Plan Assets 97,658 98,417 96,117 89,555 97,026

Surplus/(Deficit) 7,482 (3,851) 13,409 (2,763) 4,548

Experience Adjustment on Plan Liabilities- (Gain)/Loss (472) 1,631 (28) (14,362) (40,040)

Experience Adjustment on Plan Assets- Gain/(Loss) (1,272) (608) (707) (1,345) 3,017

c) Other Long Term Employee Benefits

Retention Bonus:

The Company has a non-contributory retention bonus scheme for its employees. The liability under the scheme is considered a long term employee benefit and has been ascertained on the basis of actuarial valuation as at the Balance Sheet date. The retention bonus is payable on agreed dates or on retirement or death in service and is also based on the employees’ performance during the service period.

• Financial Assumptions with respect to Retention Bonus:

1. Discount rate of 7.51% p.a. is based on prevailing market yields of Indian Government Securities as the valuation date for the estimated term of obligations.

2. The employees are assumed to retire at the age of 58 years.

3. Mortality rates of IALM (2006-08) mortality tables at specimen ages are considered

• Financial Assumptions with respect to Retention Bonus for previous year:

i) Discount rate of 7.93% p.a. is based on prevailing market yields of Indian Government Securities as the valuation date for the estimated term of obligations.

ii) The employees are assumed to retire at the age of 58 years.

iii) Mortality rates of IALM (2006-08) mortality tables at specimen ages are considered.

Leave encashment:

Leave utilization policy has changed effective October 2015, allowing employees to carry forward unutilized vacation leaves upto 3 years with limit on maximum carry forward of 10 per year, which cannot be monetized. Provision for the unutilised leave balances as of 31st March 2016 has been accounted basis Actuarial valuation report.

28. Schedule 3 “Operating Expenses Related to Insurance Business’’ includes following expenses:

(` ‘000)

Sr. No. Particulars Current

YearPrevious

Yeari. Outsourced Activity 1,329,749 1,145,511ii. Business Development 273,919 397,368iii. Marketing Support 4,735 6,469

Total 1,608,403 1,549,348

29. As required by IRDAI circular IRDA/F&I/CIR/CMP/174/11/2010 dated 4th November 2010, age-wise analysis of unclaimed amount of policyholders as at March 31, 2016 is as given below:


Current Period (`. in lacs)

Particulars Total Amount

1-6 months

7-12 months

13-18 months

19-24 months

25-30 months

31-36 months

Beyond 36

monthsClaims settled but not paid to the policyholders/insureds due to any reasons except under litigation from the insured /policyholders

190 41 8 11 18 12 22 78

Sum due to the insured/ policyholders on maturity or otherwise.

1,533 680 185 199 163 110 73 124

Any excess collection of the premium/tax or any other charges which is refundable to the policyholders either as terms of conditions of the policy or as per law or as may be directed by the Authority but not refunded so far

169 7 3 2 4 2 8 143

Cheques issued but not encashed by the policyholders/insured*

21,949 3,326 4,258 3,703 2,327 1,913 1,172 5,249

Total 23,841 4,054 4,455 3,915 2,512 2,036 1,275 5,594 *Cheques issued but not encashed by the policyholders/insured includes an amount of NIL under the ageing of 1-3 months.

Previous Year (`. in lacs)

Particulars Total Amount

1-6 months

7-12 months

13-18 months

19-24 months

25-30 months

31-36 months

Beyond 36

monthsClaims settled but not paid to the policyholders/insured due to any reasons except under litigation from the insured /policyholders

53 -

-

-

-

-

- 53

Sum due to the insured/ policyholders on maturity or otherwise

1,271 561 258 183 130 63 53 23

Any excess collection of the premium/tax or any other charges which is refundable to the policyholders either as terms of conditions of the policy or as per law or as may be directed by the Authority but not refunded so far

828 388 141 69 28 24 25 153

Cheques issued but not encashed by the policyholders/insured*

18,605 5,244* 3,917 2,297 1,629 1,030 1,583 2,905

Total 20,757 6,193 4,316 2,549 1,787 1,117 1,661 3,134*Cheques issued but not encashed by the policyholders/insured includes an amount of ` 2,369 (in lacs) under the ageing of 1-3 months.


30. The following disclosures are required under the Insurance Regulatory and Development Authority (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010:

(` ‘000)

Particulars Current Year Previous Year

Amount refunded to policyholders from the Fund 32,91,318 21,174

Amount transferred to the Fund (2,17,145) (3,221)

Number of policies discontinued and revived:

(` ‘000)


Previous Year

Fund for Discontinued Policies

Opening Balance of Funds for Discontinued Policies 4,926,979 3,202,959

Add: Fund of policies discontinued during the year 724,071 1,851,288

Less: Fund of policies revived during the year 217,145 127,267

Add: Net Income/ Gains on investment of the Fund - -

Less: Fund Management Charges levied - -

Less: Amount refunded to policyholders during the year 32,91,318 -

Closing Balance of Fund for Discontinued Policies 2,142,587 4,926,979

Other disclosures

No. of policies discontinued during the year 3,691 13,527

Percentage of discontinued policies to total policies (product-wise) during the year 1.91% 7.32%

No. of policies revived during the year 47,001 1,452

Percentage of policies revived (to discontinued policies) during the year 24.31% 0.79%

Charges imposed on account of discontinued policies 2,854 8,590

Charges readjusted on account of revival of policies 4,175 21,258


Current Period Product Name Total

Numbers of Policies

issued during the

period

Total Numbers

of Policies discontinued

during the period

Total Number

of Policies revived

during the period

% of Policies discontinued

during the period

to total Policies*

% of Policies revived during

the period to total

Policies*

Surrender Charge (` 000)

Tata AIA Life Lakshya Supreme 16,145 149 8,291 0.92% 51.35% (3,540)

Tata AIA Life InvestAssure Flexi Supreme 1,01,184 1,653 36,290 1.63% 35.87% 2,87,186

Tata AIA Life InvestAssure Plus Supreme 16,428 74 35 0.45% 0.21% -

Tata AIA Life Insurance Swarna Pratigya 5,835 30 7 0.51% 0.12% -

Tata AIA Life Insurance United Ujjwal Bhawishya Supreme

11,433 281 1,240 2.46% 10.85% 1,11,566

Tata AIA Life Insurance InvestAssure Apex Supreme

7,229 159 899 2.20% 12.44% (24,413)

Tata AIA Life Insurance InvestAssure Gold Supreme

13,240 679 125 5.13% 0.94% 6,17,996

Tata AIA Life Insurance InvestAssure Gyan Kosh 11,444 505 91 4.41% 0.80% 1,04,896

Tata AIA Life Insurance InvestAssure Maximizer 1,912 59 19 3.09% 0.99% 52,890

Tata AIA Life Insurance Swarna Bhavishya 117 7 - 5.98% 0.00% 3,640

TaTa AIA Life Insurance Suraksha Kosh 1,171 41 4 3.50% 0.34% 48,319

Tata AIA Life Insurance Suraksha Kosh Supreme 21 2 - 9.52% 0.00% 4,182

Tata AIA Life Insurance Wealth Pro 1,462 11 - 0.75% 0.00% 59,716

Tata AIA Life Insurance Fortune Pro 4,718 37 - 0.78% 0.00% 56,669

Tata AIA Life Insurance Wealth Maxima 441 - - 0.00% 0.00% -

Tata AIA Life Insurance Fortune Maxima 536 - - 0.75% 0.00% 2,683

1,93,316 3,691 47,001 1.91% 24.31% 13,21,790* Total policies mean policies issued during the period March 31, 2016


Previous Year Product Name Total

Numbers of Policies

issued during the

year

Total Numbers

of Policies discontinued

during the year

Total Numbers

of Policies revived

during the year

% of Polices discontinued

during the year to total

Policies*

% of Polices revived during

the year to total

Policies*

Surrender Charge (` ‘000)

Tata AIA Life Lakshya Supreme 16,139 1438 1451 8.91% 8.99% 656

Tata AIA Life InvestAssure Flexi Supreme 101,236 11,698 11,878 11.56% 11.73% 7,323

Tata AIA Life InvestAssure Plus Supreme 16,426 13 13 0.08% 0.08% 0

Tata AIA Life Insurance Swarna Pratigya 5,838 11 11 0.19% 0.19% 0

Tata AIA Life Insurance United Ujjwal Bhawishya Supreme

11,343 1314 1326 11.58% 11.69% 1,156

Tata AIA Life Insurance InvestAssure Apex Supreme

7,232 671 681 9.28% 9.42% 414

Tata AIA Life Insurance InvestAssure Gold Supreme

13,220 1,867 1,901 14.12% 14.38% 2,848

Tata AIA Life Insurance InvestAssure Gyan Kosh 11,343 1320 1329 11.64% 11.72% 788

Tata AIA Life Insurance InvestAssure Maximizer 1,910 224 227 11.73% 11.88% 315

Tata AIA Life Insurance Swarna Bhavishya 117 10 10 8.55% 8.55% 8

Tata AIA Life Insurance Suraksha Kosh 39 94 3 241.03% 7.69% 5

Tata AIA Life Insurance Suraksha Kosh Supreme 7 3 1 42.86% 14.29% 1

Total 184,850 18,663 18,831 10.10% 10.19% 13,512* Total policies mean policies issued till March 31, 2015.

31. The year end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are given below:

Nature of Outstanding

As at March 31

` 000's In USD 000's

Receivables 2016 8,772 1322015 19,386 310

Payables 2016 37,411 5662015 37,411 600

32. During the half year, the Company has constituted a Corporate Social Responsibility (CSR) committee as per Section 135 of the Companies Act, 2013. This Committee has approved programs to sponsor various initiatives. The Company has spent NIL (Previous Year: ` 2,500 thousand) towards Prime Minister Relief fund, ` 4,332 thousand (Previous Year: ` 90 thousand) on various education programs and disclosed it under Profit and Loss Account {Shareholders Accounts (Non-technical account)} for the year ended March 31, 2016.


33. Statement containing names, descriptions, occupations of and directorship held by the persons in charge of management of the business under section 11 (2) of Insurance Act, 1938.:

1. Name: Naveen Tahilyani

2. Description and Occupation: Managing Director, Tata AIA Life Insurance Company Limited

3. Directorship held: NIL.

34. No response has been received by the Company during the period from any of its suppliers as regards filing of the Memorandum under the provisions of the Micro, Small and Medium Enterprises Development Act, 2006.

35. Details of previous period’s figures which have been regrouped/rearranged, wherever necessary, so as to conform to current year’s classification are as follows:

Sr. No. Particulars 31-Mar-15

(Reported)31-Mar-15(Regroup) Changes Sch Remarks

1 Service Tax on Premium 3,91,275 3,74,034 17,241 Revenue Account

Accounting of Waiver of premium has been revised. Surrender benefit on account of lapsed policies regrouped for better presentation.

2 Renewal Premium 1,81,06,068 1,80,97,430 8,638 1

3 Transfer (from)/to Linked Fund (Net) 70,33,474 53,20,450 17,13,024 Revenue

Account

4 Other benefits-Surrender 2,83,70,394 3,00,92,021 (17,21,627) 4

5Change in valuation of liability in respect of life policies -Gross

1,18,42,795 1,20,75,734 (2,32,939) Revenue Account

Surrender charge income pertaining to lapsed policies regrouped under change in valuation of Liabilities which was earlier grouped under fees and charges

6 Fees and charges 13,859 2,46,798 (2,32,939) Revenue Account

7Premium received from policyholders, including advance receipts

2,15,80,513 2,15,83,921 (3,408) Cash Flow

Regrouped for appropriate presentation

8Payments to the re-insurers, net of commissions and claims

(1,13,655) (9,57,798) 8,44,143 Cash Flow

9 Payments of claims/benefits (3,34,57,032) (3,51,78,659) 17,21,627 Cash

Flow

10 Payments of commission and brokerage (8,47,541) (8,49,959) 2,418 Cash

Flow

11 Payments of other operating expenses 4,04,835 29,64,393 (25,59,558) Cash

Flow

12 Service tax paid (4,96,596) (4,79,355) (17,241) Cash Flow

13 Proceeds from sale of fixed assets 15,129 15,393 (264) Cash

Flow

(` ‘000)


Sr. No. Particulars 31-Mar-15

(Reported)31-Mar-15(Regroup) Changes Sch Remarks

14 Loans against policies (52,649) (64,695) 12,046 Cash Flow Regrouped for

appropriate presentation15 Expenses related to

investments (23,368) (23,605) 237 Cash Flow

36. Disclosures on other work given to auditors

Pursuant to clause 7.1 (g) of Corporate Governance Guidelines issued by IRDAI on August 5, 2009 the services of the statutory auditors are disclosed below:

(` ‘000)Name of the auditor Service rendered Current year Previous Year

N.M.Raiji Tax Audit 151 -A. F. Ferguson Associates Tax Audit - 150Walker Chandiok & Co. LLP (formerly Walker, Chandiok & Co.) Fit for consolidation 200 200

N.M.Raiji Certification Fees 60 -A. F. Ferguson Associates Certification Fees - 60Walker Chandiok & Co. LLP (formerly Walker, Chandiok & Co.) Certification Fees 45 45

37. As per the recent IRDAI circular IRDA/F&A/CIR/IFRS/038/03/2016 dated March 1, 2016, which requires all insurance companies to comply with the Indian Accounting Standards (Ind-AS), the Company has set up a steering committee for evaluating the impact on financial statements of the implementation of the Ind-AS.

Mumbai

Date:- 3rd May 2016



DIN 00027891


DIN 03346142

Madhusudan Kanan



DIN 00001766


DIN 03024090


DIN 00142711


DIN 00033830


Compliance Officer



DIN 00011206


DIN 03517416


Managing Director)

DIN 06594510


Officer)

(` ‘000)


Annexure 5Statement showing the Controlled Fund of M/s. TATA AIA LIFE INSURANCE COMPANY LIMITED

(` ‘000) 2015-16 2014-15

Computation of Controlled Fund as per the Balance Sheet

Policyholders' Fund (Life Fund)

Participating

Individual Assurance 7,90,55,541 6,70,01,135

Individual Pension 27,86,452 25,80,268

Non-participating

Individual Assurance 51,20,458 32,59,025

Group Assurance 42,13,517 48,48,310

Individual Annuity 3,47,968 3,50,555

Individual Accident & Health 1,92,996 1,80,250

Linked

Individual Assurance 7,44,02,379 9,31,95,447

Group Assurance 46,01,403 46,99,183

Individual Pension 39,83,810 54,35,713

Group Superannuation - -

Group Gratuity - -

Funds for Future Appropriation 6,87,131 4,73,416

Total (A) 17,53,91,655 18,20,23,302

Shareholders' Fund

Paid up Capital 1,95,35,000 1,95,35,000

Reserves and Surpluses - -

Fair Value Change 25,592 59,480

Total (B) 1,95,60,592 1,95,94,480

Miscellaneous expenses not written off - -

Credit/(Debit) from Profit and Loss Account (22,60,205) (28,96,470)

Total (C ) (22,60,205) (28,96,470)

Total Shareholders' Funds (B+C) 1,73,00,387 1,66,98,010

Controlled Fund (Total (A+B-C)) 19,26,92,042 19,87,21,312


(` ‘000) 2015-16 2014-15

Reconciliation of the Controlled Fund from Revenue and Profit & Loss AccountOpening Balance of Controlled Fund 19,87,21,312 17,64,81,620 Add: InflowIncomePremium Income 2,47,89,602 2,12,17,942 Less: Reinsurance ceded (4,31,651) (1,62,046)Net Premium 2,43,57,951 2,10,55,896 Investment Income 52,91,674 3,88,79,281 Other Income 3,92,471 6,54,614 Funds transferred from Shareholders' Accounts (a) 7,57,257 12,63,799 Total Income (X) 3,07,99,353 6,18,53,590

Less: Outgo(i) Benefits paid (Net) 2,89,19,524 3,54,26,761 (ii) Interim Bonus Paid - - (iii) Change in Valuation of Liability 1,38,30,211 1,20,43,888 (iv) Commission 14,94,895 9,22,788 (v) Operating Expenses 51,75,012 53,92,134 (vi) Provision for Taxation 4,63,928 (17,557)(vii) Transfer to Linked Funds (2,03,34,531) 53,20,450 Total Outgo (Y) 2,95,49,039 5,90,88,464

Surplus of the Policyholders' Fund (X-Y) 12,50,314 27,65,126 Transfer from Linked Fund Lapsed Policies (33,318) (2,46,416)Funds available for appropriations 12,16,996 25,18,710 Less: Transferred to Shareholders' Account (b) 10,03,280 31,74,240 Balance being transferred to FFA 2,13,716 (6,55,530)Net Flow in Policyholders' Account ((b)-(a)) 2,46,023 19,10,441 Add: Net income in Shareholders' Fund 3,90,242 7,25,752 Net Inflow/Outflow 6,36,265 26,36,193 Add: Change in valuation Liabilities 1,38,30,211 1,20,43,888 Add: Transfer to Linked Funds (Refer Annexure for Reconciliation) (2,03,34,531) 53,20,450 Add: Impact of sent to bank premium not affecting the provision for linked liability (13,239) 22,182

Add: Adjustment for Balance Sheet movement on account of service tax liability - (17,240)

Add: DCF liability forming part of AUM but not in Transfer to Linked Fund - 17,22,285 Add: FFA movement Par Fund 2,47,033 (4,09,114)Add: Lapsed Policy Movement 5,046 (1,68,221)Add: FFA movement for Non Unit Reserves - (2,38,913)Add: Change in fair value of assets (3,66,167) 12,92,531 Add: Increase in Paid up Capital - - Add: Fair Value Change (33,888) 35,651 Closing Balance of Controlled Fund 19,26,92,042 19,87,21,312 As per Balance Sheet 19,26,92,042 19,87,21,312 Difference, if any - -


(` ‘000) 2015-16 2014-15

Reconciliation with Shareholders’ and Policyholders’ Fund

Policyholders' Funds

Policyholders' Funds - Traditional-PAR and NON-PAR

Opening Balance of the Policyholders' Fund 7,86,42,196 6,58,19,371

Add: Surplus of the Revenue Account 5,27,843 (2,10,612)

Add: Change in valuation Liabilities 1,38,45,153 1,19,81,897

Add: Change in fair value of assets (3,47,763) 12,50,045

Add: Transfer to Shareholders' (2,80,811) (1,98,503)

Total 9,23,86,618 7,86,42,198

As per Balance Sheet 9,23,86,618 7,86,42,198

Difference, if any - -

Policyholders' Funds - Linked

Opening Balance of the Policyholders' Fund 10,33,81,106 9,66,36,082

Add: Surplus of the Revenue Account - -

Add: Change in valuation Liabilities (14,939) 61,993

Add: Transfer to Linked Funds (2,03,34,531) 53,20,450

Add: Adjustment towards amount pending for transfer to UL Fund (13,239) 22,182

Add: Adjustment relating to service tax liability paid - (17,240)

Add: DCF liability forming part of AUM but not in Transfer to Linked Fund - 17,22,285

Add: Transfer to Linked Funds-Lapsed Policies FFA - (2,38,913)

Add: Transfer to Linked Funds-Lapsed Policies 5,046 (1,68,221)

Add: Change in fair value of assets (18,405) 42,487

Total 8,30,05,038 10,33,81,105



Shareholders' Funds

Opening Balance of Shareholders' Fund 1,66,98,010 1,40,26,167

Add: Net income of Shareholders' Account (P&L) 6,36,265 26,36,193

Add: Infusion of Capital - -

Add: Fair Value Change (33,888) 35,650

Closing Balance of the Shareholders' Fund 1,73,00,387 1,66,98,010




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6 1

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6

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131


TATA

AIA

LIF

E IN

SU

RA

NC

E C

OM

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NY

LIM

ITE

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AN

NE

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and

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pos

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sset

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have

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ly id

entifi

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on o

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belo

w:

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Yea

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bal

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of p

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Con

solid

ated

S

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as a

t Mar

31

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Ann

uity

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Non

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artic

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Pen

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2

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) 1

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1

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Polic

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ies

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7,7

0,12

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11 1

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3,4

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7 7

3,93

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2

7,74

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8 3

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r lin

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9,7

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68

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r lin

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6

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Prov

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7,16

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Prov

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r Dis

cont

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d Po

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s-O

ther

s -

-

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-

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1

2,30

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1

2,30

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SU

B-T

OTA

L -

7,

90,5

5,54

2 51

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458

1,16

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16,

15,2

11 1

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3,4

7,96

7 7

3,92

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2

7,86

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24,

82,0

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7,44

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379

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3 3

9,83

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17

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Fund

s fo

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appr

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tion

-

5,8

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1

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5 -

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6

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131

TOTA

L1,

95,6

0,59

2 7,

96,4

4,17

5 5

1,20

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1,1

6,23

1 16

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211

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2,99

6 3

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967

73,

92,8

63

28,

67,5

05

24,8

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5 7

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46,0

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3 3

9,83

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19

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52,2

47

App

licat

ion

of F

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ents

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,00,

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2,0

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licyh

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7,53

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66

23,0

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833

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5 8

3,67

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8 3

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33,2

04

Ass

ets

held

to c

over

link

ed li

abili

ties

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7,3

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Adv

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2,6

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1

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608

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151

22,

538

12,

560

59,

48,2

61


TATA

AIA

LIF

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SU

RA

NC

E C

OM

PA

NY

LIM

ITE

D

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SC

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DU

LE 1

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1

6,90

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2

2,64

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9 7

6,84

6 8

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3

0,15

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4

7,78

0 1

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815

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13,5

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1,3

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1 8

7,16

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Tax

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ble

78,

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2

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3 8

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339

226

2

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82,

191

17,

358

451

2

0,50

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1

0,08

1 1

3,72

8 1

3,18

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1

5,33

9 1

7,01

0 4

8,35

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Se

rvic

e Ta

x on

Pre

miu

m

-

-

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1,9

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3,6

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Dep

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4,64

0 6

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isio

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431)

(17,

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22)

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8,35

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9) (1

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f 1

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1 1

7,23

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1

2,68

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Tax

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48,0

71

(3,1

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(99)

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1,63

6) -

(7

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676)

(38,

941)

-

(17,

557)

Frin

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Pr

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1,57

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367

1

9,71

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1

1,57

8 (5

4,29

0) 1

0,59

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6,77

1) 4

0,26

6 6

3,14

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TATA

AIA

LIF

E IN

SU

RA

NC

E C

OM

PA

NY

LIM

ITE

D

B.2

SC

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DU

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ontin

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T

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ary

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roup

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fe

Cre

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med

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A

nnui

ty

Ben

efits

pai

d (N

et)

4

25,

57,6

95

1,6

0,20

6 9

0,40

3 2

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146

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063

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11,9

4,78

5 1

6,45

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3

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05,1

34

Inte

rim B

onus

es p

aid

-

-

-

-

-

-

-

-

-

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-

-

-

Cha

nge

in v

alua

tion

of li

abili

ty in

resp

ect o

f life

po

licie

s

-

-

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-

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-

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-

-

-

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(a)

Gro

ss

1,1

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8

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125

24,

342

(4,1

8,52

9) 1

9,91

4 2

56

5,0

2,10

8 1

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649

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037)

790

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) 1

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42,7

95

(b)

Am

ount

ced

ed in

Rei

nsur

ance

(2

,044

) (1

7,38

7) (3

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) (9

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) (2

8) -

(2

9,67

0) (1

1) -

(1

21)

-

-

(31,

846)

(c)

Am

ount

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-

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Tran

sfer

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-

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-

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-

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-

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(1,5

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TOTA

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1,1

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7 (2

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48,

949

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2,46

1 5

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Tra

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m L

inke

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nd (L

apse

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licie

s) [E

] -

-

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3,3

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4,59

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8,63

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1,4

1,50

2 1

2,46

1 5

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11,

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1,74

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Tran

sfer

to O

ther

Res

erve

s (In

sura

nce

Res

erve

) -

-

-

-

-

-

-

-

-

-

-

-

-

Bal

ance

bei

ng F

unds

for F

utur

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(4

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(1

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1,4

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2 1

2,46

1 5

,01,

165

24,

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76,

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19,

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43

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1,5

5,75

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5,18

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44,

758

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2,7

8,69

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1

8,48

3 1

1,28

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Cur

rent

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ropr

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(4,2

2,26

5) -

-

-

-

-

-

1

3,15

1 -

(2

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206)

-

(18,

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(6,5

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Bal

ance

Car

ried

For

war

d to

Bal

ance

She

et

3,6

4,74

4 -

-

-

-

-

-

5

7,90

9 -

5

0,49

0 -

2

73

4,7

3,41

6


TATA

AIA

LIF

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SU

RA

NC

E C

OM

PA

NY

LIM

ITE

D

B.2

SC

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DU

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6

AN

NE

XU

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2 -

SE

GM

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ETS

AN

D L

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ILIT

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MA

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1, 2

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(i)

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and

Liab

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iden

tified

bet

wee

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With

in P

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tent

pos

sibl

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sset

s an

d lia

bilit

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have

bee

n di

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ly id

entifi

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seg

men

ts. O

ther

ass

ets

have

bee

n al

loca

ted

on o

ne o

f the

bas

is m

entio

ned

belo

w:

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Yea

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bal

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of p

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Ope

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pens

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acc

ount

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ross

Pre

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(` ‘0

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Fund

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Con

solid

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S

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as a

t Mar

31

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Gro

up-

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Imm

edia

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Ann

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T

otal

Non

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artic

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Pen

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s P

AR

P

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Non

Par

In

divi

dual

Li

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G

roup

P

ensi

on

Link

ed

Indi

vidu

al

Pen

sion

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nked

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ourc

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f Fun

ds

Shar

ehol

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’ Fun

ds:

Shar

e C

apita

l 1

,95,

35,0

00

-

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-

-

-

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Res

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5

9,48

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SU

B-T

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L 1

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94,4

80

-

-

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-

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-

-

-

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1,9

5,94

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Po

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7

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3

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4,78

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bilit

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-

6,4

5,98

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32

,59,

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76,

121

20,

32,4

21 1

,80,

250

3,5

0,55

5 5

8,98

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2

5,80

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27

,39,

768

5,9

3,46

2 5

,562

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2,13

6 7

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82

Prov

isio

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ked

liabi

litie

s (la

psed

po

licy)

-

-

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-

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-

-

-

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-

6,7

04

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236

6

,940

Prov

isio

n fo

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ked

liabi

litie

s -

-

-

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-

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-

-

-

8

,68,

88,7

44 4

6,93

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80,2

64

9,6

9,62

,629

Pr

ovis

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for D

isco

ntin

ued

Polic

ies

on

acco

unt o

f non

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men

t of p

rem

ium

-

-

-

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-

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-

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49,

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35

-

-

49,

02,0

35

Prov

isio

n fo

r Dis

cont

inue

d Po

licie

s-O

ther

s -

-

-

-

-

-

-

-

-

-

7

,31,

762

-

-

7,3

1,76

2

SU

B-T

OTA

L -

6

,70,

01,1

35

32,5

9,02

5 7

6,12

1 2

0,32

,421

1,8

0,25

0 3

,50,

555

58,

98,3

72

25,

80,2

68

27,3

9,76

8 9

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95,4

47 4

6,99

,183

54,

35,7

13

18,1

5,49

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Fu

nds

for f

utur

e ap

prop

riatio

n -

3

,64,

744

-

-

-

-

-

-

57,

909

-

50,

490

-

273

4

,73,

416

TOTA

L 1

,95,

94,4

80

6,7

3,65

,879

32

,59,

025

76,

121

20,

32,4

21 1

,80,

250

3,5

0,55

5 5

8,98

,372

2

6,38

,177

27

,39,

768

9,3

2,45

,937

46,

99,1

83 5

4,35

,986

20

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17,7

82

App

licat

ion

of F

unds

Inve

stm

ents

Shar

ehol

ders

' 1

,73,

10,4

24

-

-

-

-

-

-

-

-

-

-

-

-

1,7

3,10

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Po

licyh

olde

rs'

-

6,3

7,69

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41

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1,4

1,82

5 2

6,64

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2,2

9,81

0 4

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612

76,

67,2

90

26,

30,6

62

26,7

4,60

8 1

0,19

,111

7

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9

1,48

7 7

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60,2

06

Ass

ets

held

to c

over

link

ed li

abili

ties

-

-

-

-

-

-

-

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-

-

9,2

5,22

,756

46,

93,6

20 5

3,80

,273

10

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96,6

49

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s -

1

9,23

,247

9

6,25

6 -

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6 7

5,74

8 -

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2

0,95

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Fi

xed

Ass

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(Ref

er N

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2 1

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1

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6,54

0 1

1,61

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8 2

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2

5 2

35

10,

89,6

60

Cur

rent

ass

ets:

Cas

h an

d B

ank

Bal

ance

s -

4

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612

42,

591

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7,5

92

3,2

82

2

58,

688

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18

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723

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Adv

ance

s an

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ther

Ass

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423

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23,5

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1 1

8,89

8 1

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157

7,8

03

11,

115

7,6

6,50

4 1

,04,

513

25,

698

2,8

1,35

9 4

4,55

5 4

,81,

302

45,

50,9

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Adv

ance

tax

paid

and

taxe

s de

duct

ed

at s

ourc

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et o

f pro

visi

ons)

3,8

0,00

1 -

-

-

-

-

-

-

-

-

-

-

-

3

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001

Inte

r Fun

d A

sset

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-

-

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S

UB

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TAL(

A)

4,0

3,42

4 3

2,62

,164

6

,66,

122

24,

119

1,1

2,74

9 1

1,08

5 1

1,11

7 8

,25,

192

1,1

0,33

1 7

3,42

1 5

,08,

572

53,

737

4,9

0,03

7 5

7,26

,878


TATA

AIA

LIF

E IN

SU

RA

NC

E C

OM

PA

NY

LIM

ITE

D

B.2

SC

HE

DU

LE 1

6 (C

ontin

ued)

AN

NE

XU

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2 -

SE

GM

EN

T A

SS

ETS

AN

D L

IAB

ILIT

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MA

RC

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1, 2

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Fund

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cate

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Pol

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hold

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Fund

s

Con

solid

ated

S

egm

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as a

t Mar

31

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6 O

rdin

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on-P

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Gro

up-

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lth

Imm

edia

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Ann

uity

T

otal

Non

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artic

ipat

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Pen

sion

s P

AR

P

ensi

ons

Non

Par

In

divi

dual

Li

nked

G

roup

P

ensi

on

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ed

Indi

vidu

al

Pen

sion

Li

nked

C

urre

nt li

abili

ties:

-

24,

91,4

44

18,

83,1

45

1,2

0,05

8 2

,69,

834

29,

089

6,5

88

23,

08,7

14

43,

526

58,

569

27,

51,3

20

13,

638

1,6

6,45

8 7

8,33

,669

Tax

paya

ble

19,

674

-

-

-

-

-

-

-

-

-

-

-

-

19,

674

Prov

isio

ns -

3

0,45

8 4

1,51

7 5

94

1,7

75

375

1

0 4

4,27

1 2

18

296

2

8,47

2 3

31

367

1

,04,

413

Inte

r Fun

d Li

abili

ties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

SU

B-T

OTA

L(B

) 1

9,67

4 2

5,21

,902

1

9,24

,662

1

,20,

652

2,7

1,60

9 2

9,46

4 6

,598

2

3,52

,985

4

3,74

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5


Name of the Insurer :TATA AIA LIFE INSURANCE COMPANY LIMITED Registration No.110 Date of Registration with IRDA: February 12, 2001

ANNEXURE 3 -ADDENDUM TO THE REVENUE ACCOUNT -BREAK UP OF UNIT LINKED BUSINESS FOR THE YEAR ENDED MARCH 31, 2016

Current Year Policyholders’ Account (Technical Account)

(` ‘000)

LINKED LIFE NON PAR LINKED PENSION

Non Unit Unit Total Non Unit Unit Total

Premiums earned-net

(a) Premium 227,476 6,679,444 6,906,920 382 572,589 572,971

(b) Reinsurance ceded (Refer Note A.2 (ii) of Schedule 16). (32,951) - (32,951) - - -

(c) Reinsurance accepted - - - - -

Sub -Total 194,525 6,679,444 6,873,969 382 572,589 572,971

Income from investments

(a) Interest, Dividend and Rent-Gross (Refer Notes A.2 (iii) and A.2 (iv) of Schedule 16)

58,267 2,276,977 2,335,244 6,355 443,984 450,339

(b) Profit on sale/redemption of investments (Refer Note A.2(vi) of Schedule 16)

- 13,926,534 13,926,534 12 883,071 883,083

(c) (Loss) on sale/redemption of investments (Refer Note A.2(vi) of Schedule 16)

- (1,770,488) (1,770,488) - (139,920) (139,920)

(d) Transfer/Gain on revaluation/change in fair value* - (16,023,826) 16,023,826) - (995,295) (995,295)

Other Income

(a) Interest on over due Premium 93 - 93 - - -

(b) Interest on Policy loan - - - - - -

(c) Fees and charges (Refer Notes A.2 (vii) & A.2 (viii) of Schedule 16)

1,787,480 (1,788,211) (731) 97,856 (97,841) 15

(d) Exchange fluctuation gain (Refer Note A.8 of Schedule 16) - - - - - -

(e) Contribution from the Shareholders' Account (Refer Note B.18 of Schedule 16)

- - - - - -

(f) Miscellaneous Income (Refer Note B.23 of Schedule 16) 25,919 275 26,194 21 15 36

Sub -Total 1,871,759 (3,378,739) (1,506,980) 104,244 94,014 198,258

TOTAL (A) 2,066,284 3,300,705 5,366,989 104,626 666,603 771,229


(` ‘000)


Commission 340,888 - 340,888 85 - 85 Operating Expenses related to Insurance Business 1,323,704 1,323,704 17,916 0 17,916

Service Tax on Premium 31,384 248,606 279,990 31 17,230 17,261 Provision for doubtful debts (13,571) - (13,571) (195) - (195)Bad debts written off Provision for Tax (Refer Note A.14 of Schedule 16)

15,902 - 15,902 220 - 220

(a) Current Tax (credit)/charge - - - - - - (b) Deferred Tax (credit)/charge 24,755 - 24,755 2,175 - 2,175

Fringe Benefit Tax - - - - - - Provisions (other than taxation) - - - - - -

(a) For diminution in the value of investments (Net) - - - - - -

(b) Others - - - - - -

TOTAL (B) 1,723,062 248,606 1,971,668 20,232 17,230 37,462 Benefits paid (Net) 178,864 21,834,298 22,013,162 68 2,202,022 2,202,090 Interim Bonuses paid - - - - - - Change in valuation of liability in respect of life policies -

(a) Gross** (Refer Notes A.6 and B.2 of Schedule 16) (19,441) - (19,441) 4,503 - 4,503

(b) Amount ceded in Reinsurance - - - - - -

(c) Amount accepted in Reinsurance - - - - - -

Transfer to Linked Fund (Net) (Refer Note B.26 of Schedule 16)

320 (18,782,202) (18,781,882) - (1,552,649) (1,552,649)

Transfer to Investment stabilisation reserve - - - - -

TOTAL (C) 159,743 3,052,096 3,211,839 4,571 649,373 653,944 SURPLUS/ (DEFICIT) [(D)=(A)-(B)-(C)] 183,482 0 183,482 79,823 - 79,823

Transfer from Linked fund (Lapsed Policies) (Refer Note B.25 of Schedule 16)

(32,840) (205) (33,045) (264) (9) (273)

Funds available for Appropriation 150,642 (205) 150,437 79,559 (9) 79,550

APPROPRIATIONS Transfer to Shareholders' Account (Refer note B.10 of Schedule 16)

183,482 0 183,482 79,823 0 79,823

Transfer to Other Reserves - - - - - - Balance being transferred to Funds for Future Appropriations (Refer Note B.25 of Schedule 16)

(32,840) (205) (33,045) (264) (9) (273)

TOTAL (D) 150,642 (205) 150,437 79,559 (9) 79,550 * Represents the deemed realised gain as per norms specified by the Authority ** Represents Mathematical Reserves after allocation of bonus.


Name of the Insurer :TATA AIA LIFE INSURANCE COMPANY LIMITEDRegistration No.110 Date of Registration with IRDA: February 12, 2001

SCHEDULE TO ANNEXURE 3 TO REVENUE ACCOUNT - UNIT LINKED BUSINESS FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2016

Current Year Schedule UL1

LINKED INCOME (RECOVERED FROM LINKED FUNDS)

(` ‘000)

PARTICULARS UL NON PAR UL PENSIONS Total

FUND CHARGES 1,026,118 75,294 1,101,413

FUND ALLOCATION CHARGES - - -

FUND SWITCHING FEES 539 3 542

MANAGEMENT FEE - - -

INVESTMENT FEES - - -

SURRENDER CHARGE 60,330 1,862 62,191

MORATLITY RISK FEES 358,157 85 358,242

POLICY FEES 297,278 16,058 313,335

PREMIUM HOLIDAY CHARGE 34,581 - 34,581

OTHERS 11,208 4,539 15,747

-

-

TOTAL 1,788,211 97,841 1,886,052



SCHEDULE TO ANNEXURE 3 TO REVENUE ACCOUNT - UNIT LINKED BUSINESS FORMING PART OF THE FINANCIAL STATEMENTS YEAR ENDED MARCH 31, 2016

Current Year Schedule UL2

BENEFITS PAID

(` ‘000)

S.N PARTICULARS LINKED LIFE NON PAR LINKED PENSION


1 Insurance claims

(a) Claims by death 191,725 204,255 395,980 68 16,613 16,681

(b) Claims by maturity - 16,795 16,795 - 454 454

(c) Annuities/ Pension payment - - - - 722,375 722,375

(d) Other benefits -

- Surrender 0 21,613,247 21,613,247 - 1,462,580 1,462,580

Sub Total (A) 191,725 21,834,297 22,026,022 68 2,202,022 2,202,090

2 Amount ceded in reinsurance

(a) Claims by death 12,860 - 12,860 - - -

(b) Claims by maturity - - - - - -

(c) Annuities/ Pension payment - - - - - -

(d) Other benefits

- Surrender - - - - - -

- Survival - - - - - -

Sub Total (B) 12,860 - 12,860 - - -

TOTAL (A) -(B) 178,864 21,834,297 22,013,162 68 2,202,022 2,202,090

Benefits paid to claimants:

In India 178,864 21,834,297 22,013,162 68 2,202,022 2,202,090

Outside India -

TOTAL (UL2) 178,864 21,834,297 22,013,162 68 2,202,022 2,202,090



“ SCHEDULE TO ANNEXURE 3 TO REVENUE ACCOUNT - UNIT LINKED BUSINESS FORMING PART OF THE FINANCIAL STATEMENTS YEAR ENDED MARCH 31, 2015

Policyholders’ Account (Technical Account)

(` ‘000)LINKED LIFE NON PAR LINKED PENSION

Non Unit Unit Total Non Unit Unit Total Premiums earned-net

(a) Premium 1,48,241 62,12,364 63,60,605 1,492 5,00,054 5,01,546

(b) Reinsurance ceded (Refer Note A.2 (ii) of Schedule 16). (34,344) - (34,344) - - -

(c) Reinsurance accepted - - - - -

Sub -Total 1,13,897 62,12,364 63,26,261 1,492 5,00,054 5,01,546

Income from investments

(a) Interest, Dividend and Rent-Gross (Refer Notes A.2 (iii) and A.2 (iv) of Schedule 16)

96,101 23,04,059 24,00,160 8,673 4,95,881 5,04,554

(b) Profit on sale/redemption of investments (Refer Note A.2(vi) of Schedule 16)

123 1,79,96,551 1,79,96,674 1,337 13,18,851 13,20,188

(c) (Loss) on sale/redemption of investments (Refer Note A.2(vi) of Schedule 16)

- (4,07,945) (4,07,945) - (65,160) (65,160)

(d) Transfer/Gain on revaluation/change in fair value* - 1,06,79,625 1,06,79,625 - 6,39,649 6,39,649

Other Income

(a) Interest on over due Premium 186 - 186 - - -

(b) Interest on Policy loan - - - - - -

(c) Fees and charges (Refer Notes A.2 (vii) & A.2 (viii) of Schedule 16)

29,93,898 (27,71,422) 2,22,476 2,18,181 (2,00,244) 17,937

(d) Exchange fluctuation gain (Refer Note A.8 of Schedule 16) - - - - - -

(e) Contribution from the Shareholders' Account (Refer Note B.18 of Schedule 16)

- - - - - -

(f) Miscellaneous Income (Refer Note B.23 of Schedule 16) 12,709 1 12,710 208 - 208

Sub -Total 31,03,017 2,78,00,869 3,09,03,886 2,28,399 21,88,977 24,17,376

TOTAL (A) 32,16,914 3,40,13,233 3,72,30,147 2,29,891 26,89,031 29,18,922

Commission 73,405 - 73,405 545 - 545

Operating Expenses related to Insurance Business 13,60,393 - 13,60,393 33,372 - 33,372

(` ‘000)


(` ‘000)



Service Tax on Premium - 3,43,843 3,43,843 - 28,270 28,270

Provision for doubtful debts (12,689) - (12,689) (313) - (313)Bad debts written off Provision for Tax (Refer Note A.14 of Schedule 16)

12,689 - 12,689 313 - 313

(a) Current Tax (credit)/charge - - - - - -

(b) Deferred Tax (credit)/charge (7,34,676) - (7,34,676) (38,941) - (38,941)

Fringe Benefit Tax - - - - - -

Provisions (other than taxation) - - - - - -

(a) For diminution in the value of investments (Net) - - - - - -

(b) Others - - - - - -

TOTAL (B) 6,99,122 3,43,843 10,42,965 (5,024) 28,270 23,246

Benefits paid (Net) UL2 2,92,085 2,81,69,386 2,84,61,471 143 28,40,445 28,40,588

Interim Bonuses paid - - - - - - Change in valuation of liability in respect of life policies -

(a) Gross** (Refer Notes A.6 and B.2 of Schedule 16) 49,950 - 49,950 12,164 - 12,164

(b) Amount ceded in Reinsurance (121) - (121) - - -

(c) Amount accepted in Reinsurance - - - - - -

Transfer to Linked Fund (Net) (Refer Note B.26 of Schedule 16) 130 55,00,004 55,00,134 - (1,79,684)

(1,79,684)Transfer to Investment stabilisation reserve - - - - -

TOTAL (C) 3,42,044 3,36,69,390 3,40,11,434 12,307 26,60,761 26,73,068 SURPLUS/ (DEFICIT) [(D)=(A)-(B)-(C)] 21,75,747 - 21,75,748 2,22,608 - 2,22,608

Transfer from Linked fund (Lapsed Policies) (Refer Note B.25 of Schedule 16)

(2,21,335) (6,870) (2,28,205) (17,578) (633) (18,211)

Funds available for Appropriation 19,54,412 (6,870) 19,47,543 2,05,030 (633) 2,04,397

APPROPRIATIONS Transfer to Shareholders' Account (Refer note B.10 of Schedule 16)

21,75,749 - 21,75,749 2,22,607 - 2,22,607

Transfer to Other Reserves - - - - - - Balance being transferred to Funds for Future Appropriations (Refer Note B.25 of Schedule 16)

(2,21,336) (6,870) (2,28,206) (17,577) (633) (18,210)

TOTAL (D) 19,54,413 (6,870) 19,47,543 2,05,030 (633) 2,04,397 * Represents the deemed realised gain as per norms specified by the Authority ** Represents Mathematical Reserves after allocation of bonus.



SCHEDULE TO ANNEXURE 3 TO REVENUE ACCOUNT - UNIT LINKED BUSINESS FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2015

Schedule UL1 LINKED INCOME (RECOVERED FROM LINKED FUNDS)

(` ‘000)

PARTICULARS UL NON PAR UL PENSIONS Total

FUND CHARGES 11,76,086 93,616 12,69,702

FUND ALLOCATION CHARGES - -

FUND SWITCHING FEES 695 6 701

MANAGEMENT FEE -

INVESTMENT FEES -

SURRENDER CHARGE 6,25,527 75,063 7,00,590

MORATLITY RISK FEES 4,77,432 75 4,77,507

POLICY FEES 4,36,335 26,628 4,62,963

PREMIUM HOLIDAY CHARGE 47,275 47,275

OTHERS 8,072 4,856 12,928

-

-

TOTAL 27,71,422 2,00,244 29,71,666



“ SCHEDULE TO ANNEXURE 3 TO REVENUE ACCOUNT - UNIT LINKED BUSINESS FORMING PART OF THE FINANCIAL STATEMENTS YEAR ENDED MARCH 31, 2015

Schedule UL2 BENEFITS PAID

(` ‘000)

S.N PARTICULARS LINKED LIFE NON PAR LINKED PENSION


1 Insurance claims

(a) Claims by death 2,98,004 2,29,237 5,27,241 143 20,834 20,977

(b) Claims by maturity - 2,69,953 2,69,953 - 5,262 5,262

(c) Annuities/ Pension payment - - - - 11,94,781 11,94,781

(d) Other benefits -

- Surrender 0 2,76,70,196 2,76,70,196 - 16,19,568 16,19,568

Sub Total (A) 2,98,004 2,81,69,386 2,84,67,390 143 28,40,445 28,40,588

2 Amount ceded in reinsurance

(a) Claims by death 5,920 5,920

(b) Claims by maturity - - - - - -

(c) Annuities/ Pension payment - - - - - -

(d) Other benefits

- Surrender - - - - - -

- Survival - - - - - -

Sub Total (B) 5,920 - 5,920 - - -

TOTAL (A) -(B) 2,92,085 2,81,69,386 2,84,61,470 143 28,40,445 28,40,588

Benefits paid to claimants:

In India 2,92,085 2,81,69,386 2,84,61,470 143 28,40,445 28,40,588

Outside India -

TOTAL (UL2) 2,92,085 2,81,69,386 2,84,61,470 143 28,40,445 28,40,588


Ann

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- Fi

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App

licat

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3

3,88

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24

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152

Cur

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Ass

ets

F-3

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5,66

3 2

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5,2

79

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15,

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2,8

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4,7

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8 1

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57,

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18,

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Less

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of F

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F

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Cur

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Ass

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F-3

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Less

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Lia

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cur

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16.

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5630


Ann

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ED

Reg

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n N

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with

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Febr

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CU

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Part

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S

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Su

per

Sel

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Equ

ity

Fun

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0%

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e Fu

nd

Ap

ex P

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urn

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Fu

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ota

l

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f Fu

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s P

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Po

licyh

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r co

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utio

n F

-1

38,

84,3

79

8,6

56

10,

206

7,6

7,76

8 2

,14,

902

21,

22,4

39

3,7

52

5,5

3,59

6 3

,277

3

,32,

783

7,0

41

4,0

7,29

0 1

33

147

3

,28,

87,1

78

Rev

enue

Acc

ount

2

8,26

,168

(1

,618

) (1

0,20

6) 3

,31,

938

69,

997

11,

17,2

31

(3,3

22)

1,2

9,18

5 (2

,301

) 6

7,44

1 (2

,614

) 6

8,70

7 (2

) (6

) 4

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40,1

86

Tota

l 6

7,10

,547

7

,039

(0

) 1

0,99

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2

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899

32,

39,6

70

430

6

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781

976

4

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224

4,4

27

4,7

5,99

7 1

30

141

7

,37,

27,3

64

App

licat

ion

of F

unds

Inve

stm

ents

F

-2

64,

77,7

64

6,7

02

-

10,

75,4

40

2,7

9,15

2 3

3,73

,127

3

06

6,6

8,54

4 2

04

3,8

9,82

8 2

,755

4

,66,

356

96

93

7,2

5,55

,577

Cur

rent

Ass

ets

F-3

2

,32,

783

337

(0

) 2

5,72

1 6

,155

2

13

124

1

7,25

3 7

72

10,

396

1,6

72

10,

950

34

48

13,

72,5

40

Less

: Cur

rent

Li

abili

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and

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ns

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(0

) 0

1

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3

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1

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2

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753

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cur

rent

ass

ets

2,3

2,78

3 3

37

(0)

24,

266

5,7

47

(1,3

3,45

7) 1

24

14,

237

772

1

0,39

6 1

,672

9

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3

4 4

8 1

1,71

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Tota

l 6

7,10

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7

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(0

) 1

0,99

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2

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899

32,

39,6

70

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6

,82,

781

976

4

,00,

224

4,4

27

4,7

5,99

7 1

30

141

7

,37,

27,3

64

Net

Ass

et a

s pe

r B

alan

ce S

heet

(A

) 6

7,10

,547

7

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(0

) 1

0,99

,706

2

,84,

899

32,

39,6

70

430

6

,82,

781

976

4

,00,

224

4,4

27

4,7

5,99

7 1

30

141

7

,37,

27,3

64

Arr

ived

AU

M

67,

10,5

47

7,0

39

(0)

10,

99,7

06

2,8

4,89

9 3

2,39

,670

4

30

6,8

2,78

1 9

76

4,0

0,22

4 4

,427

4

,75,

997

130

1

41

7,3

7,27

,364

(T

otal

Ass

ets

less

C

urre

nt L

iabi

litie

s an

d Pr

ovis

ions

) N

umbe

r of U

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ou

tsta

ndin

g (B

) 3

,19,

192.

5959

456

.588

1 -

69

,041

.039

8 20

,013

.432

3 2,

13,1

99.6

126

42.9

459

45,

687.

0564

9

7.53

28

25,

112.

3694

4

38.4

961

30,

715.

1999

1

3.39

31

14.

5047

2

1,61

,916

Net

Ass

et V

alue

pe

r U

nit I

n (`

) (A

)/(B

) 2

1.02

35

15.

4155

1

0.00

00

15.

9283

1

4.23

54

15.

1955

1

0.00

87

14.

9447

1

0.00

65

15.

9373

1

0.09

57

15.

4971

9

.709

7 9

.713

6 3

4.10

28


Ann

exur

e 4A

- Fi

nanc

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tate

men

ts o

f Life

Lin

ked

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ines

sFo

rm A

- RA

(UL)

Nam

e of

the

Insu

rer:

TA

TA A

IA L

IFE

INS

UR

AN

CE

CO

MP

AN

Y L

IMIT

ED

Reg

istr

atio

n N

o 11

0D

ate

of R

egis

trat

ion

with

IRD

AI:

Febr

uary

12,

200

1 F

und

Bal

ance

she

et a

s at

Mar

31,

201

6(`

‘000

)C

UR

RE

NT

YE

AR

Part

icul

ars

Sche

dule

E

quity

In

com

e

Liq

uid

B

alan

ced

Gro

wth

A

ggre

ssiv

e S

tabl

e F

ixed

In

com

e W

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life

Eq

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W

hole

Life

In

com

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Life

A

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ssiv

e W

hole

Life

St

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Who

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Fix

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Cap

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Gro

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r

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m in

vest

men

ts

Inte

rest

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5,0

80

57,

053

10,

567

18,

790

38,

567

49,

744

11,

254

14,

825

8,0

16

1,7

3,48

0 9

6,82

1 3

5,85

1 1

,02,

088

2,8

92

225

Div

iden

d in

com

e 2

,46,

218

-

-

1,7

17

11,

371

14,

632

1,1

73

-

2,1

3,04

1 -

3

2,17

9 4

,126

-

8

8 2

7

Profi

t/los

s on

sal

e of

in

vest

men

t 2

3,40

,843

1

7,63

9 5

61

20,

004

1,3

0,48

6 2

,55,

553

13,

159

2,2

67

46,

91,3

13

37,

388

4,7

2,52

8 4

3,01

8 8

,780

1

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2

21

Profi

t/los

s on

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r fun

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f inv

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Mis

cella

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s In

com

e 0

0

0

0

0

0

0

0

1

24

0

0

0

0

0

0

Unr

ealis

ed G

ain/

loss

* (3

5,75

,336

) (8

,493

) -

(3

0,37

4) (1

,80,

413)

(3,2

8,60

1) (1

9,48

5) (1

,766

) (5

3,72

,737

) (1

8,70

9) (6

,45,

280)

(69,

291)

(5,8

03)

(1,5

58)

(373

)

App

ropr

iatio

n In

com

e/

Exap

prop

riatio

n Lo

ss (

net)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tota

l (A

) (9

,83,

195)

66,

199

11,

128

10,

137

11

(8,6

72)

6,1

01

15,

326

(4,6

0,24

3) 1

,92,

159

(43,

752)

13,

704

1,0

5,06

5 2

,503

1

00

Fund

man

agem

ent

expe

nses

2

,81,

567

9,9

74

1,2

56

5,5

51

21,

471

28,

407

3,3

87

1,6

38

2,3

6,25

4 1

9,22

5 4

0,32

5 7

,920

8

,114

6

69

73

Fund

adm

inis

tratio

n ex

pens

es

52,

163

1,5

12

192

8

58

2,7

92

5,8

10

796

6

02

54,

184

10,

612

13,

147

3,1

71

4,4

89

198

9

Oth

er c

harg

es:

F-5

1

,68,

595

8,3

62

1,2

85

3,6

55

11,

693

15,

679

2,6

69

2,3

92

1,3

4,46

9 2

8,80

3 3

4,90

5 8

,457

1

3,02

1 1

,122

2

0

Tota

l (B

) 5

,02,

325

19,

848

2,7

33

10,

064

35,

956

49,

896

6,8

52

4,6

32

4,2

4,90

7 5

8,64

0 8

8,37

7 1

9,54

8 2

5,62

4 1

,989

1

02

Net

Inco

me

for

the

year

(A

-B)

(14,

85,5

20)

46,

351

8,3

95

74

(35,

945)

(58,

568)

(751

) 1

0,69

4 (8

,85,

151)

1,3

3,51

9 (1

,32,

129)

(5,8

44)

79,

441

514

(2

)

Add

: Fun

d re

venu

e ac

coun

t at

the

begi

nnin

g of

the

perio

d 1,

16,8

5,87

2 3

,75,

938

68,

704

2,8

1,77

2 9

,69,

060

11,

15,4

66

1,1

8,96

3 6

6,81

9 1,

55,9

0,88

1 5

,15,

446

15,

80,0

82

2,5

9,09

5 2

,49,

451

(9,9

73)

2,3

35

Fund

rev

enue

acc

ount

at

the

end

of th

e Y

ear

1,02

,00,

352

4,2

2,28

9 7

7,09

9 2

,81,

846

9,3

3,11

5 1

0,56

,898

1

,18,

212

77,

513

1,47

,05,

730

6,4

8,96

6 1

4,47

,952

2

,53,

251

3,2

8,89

2 (9

,459

) 2

,333

* N

et c

hang

e in

mar

ked

to m

arke

t val

ue o

f inv

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.


Ann

exur

e 4A

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nanc

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tate

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ts o

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Lin

ked

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ines

sFo

rm A

- RA

(UL)

(Con

tinue

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Nam

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the

Insu

rer:

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TA A

IA L

IFE

INS

UR

AN

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CO

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AN

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IMIT

ED

Reg

istr

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o 11

0D

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of R

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with

IRD

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Febr

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12,

200

1 F

und

Bal

ance

she

et a

s at

Mar

31,

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)C

UR

RE

NT

YE

AR

Part

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ars

Sche

dule

G

row

th

Max

imis

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Lar

ge C

ap

Equi

ty

Sel

ect

Equi

ty

Fund

UC

G

-110

%

Cap

ital

Gua

rant

ee

Fund

TO

P-50

T

OP-

200

A

GG

RES

SIVE

FL

EXI

STA

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FL

EXI

BO

ND

A

PEX

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In F

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und

II

In

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Sup

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Fun

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Inco

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vest

men

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me

1,0

77

3,0

87

-

1,4

33

286

2

58

5,8

21

5,8

99

8,8

44

-

1,3

0,22

0 9

6,22

2 1

17

-

Div

iden

d in

com

e 3

27

1,2

4,03

4 1

7,54

4 4

0 9

,418

2

1,22

9 6

88

203

-

-

1

2,31

0 9

,973

3

,195

8

3,02

3

Profi

t/los

s on

sal

e of

in

vest

men

t 7

,094

1

0,50

,011

3

,72,

481

686

1

,28,

769

3,8

9,18

1 9

,677

4

,563

1

,215

-

1

,80,

995

1,2

1,23

2 7

5,25

1 1

5,60

,734

Profi

t/los

s on

inte

r fun

d tra

nsfe

r/ sa

le o

f inv

estm

ent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mis

cella

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com

e 0

7

1 0

0

4

6

0

0

0

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0

0

2

0

Unr

ealis

ed G

ain/

loss

* (8

,819

) (1

7,22

,476

) (4

,75,

116)

(899

) (1

,75,

118)

(4,9

7,73

0) (1

4,54

4) (6

,022

) (1

,091

) -

(2

,35,

049)

(1,6

3,76

1) (1

,10,

496)

(20,

23,3

31)

App

ropr

iatio

n In

com

e/

Exap

prop

riatio

n Lo

ss (

net)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tota

l (A

) (3

21)

(5,4

5,27

3) (8

5,09

1) 1

,260

(3

6,64

1) (8

7,05

6) 1

,642

4

,643

8

,968

-

8

8,47

4 6

3,66

6 (3

1,93

1) (3

,79,

574)

Fund

man

agem

ent

expe

nses

6

57

1,0

0,69

2 2

4,99

7 4

96

8,0

53

18,

269

1,6

08

1,1

15

1,3

78

0

37,

353

26,

977

3,5

12

95,

914

Fund

adm

inis

tratio

n ex

pens

es

151

4

7,61

7 6

,147

1

72

5,8

54

12,

085

1,2

83

854

8

52

(33)

6,9

42

5,0

85

2,9

39

42,

233

Oth

er c

harg

es:

F-5

2

11

80,

464

24,

272

611

5

,460

1

2,23

4 1

,001

6

78

1,1

23

(49)

24,

486

14,

700

1,5

05

60,

947

Tota

l (B

) 1

,019

2

,28,

773

55,

416

1,2

79

19,

367

42,

588

3,8

92

2,6

47

3,3

53

(82)

68,

781

46,

762

7,9

56

1,9

9,09

3

Net

Inco

me

for

the

year

(A

-B)

(1,3

40)

(7,7

4,04

6) (1

,40,

507)

(19)

(56,

008)

(1,2

9,64

4) (2

,250

) 1

,996

5

,615

8

2 1

9,69

3 1

6,90

4 (3

9,88

9) (5

,78,

667)

Add

: Fun

d re

venu

e ac

coun

t at

the

begi

nnin

g of

the

perio

d 2

6,15

8 3

8,82

,091

1

0,22

,490

(9

,484

) 1

,08,

775

5,0

4,30

0 (8

,937

) (2

0,55

2) 6

,717

(5

9,34

0) 7

,99,

700

5,7

3,89

6 (2

1,80

6) 3

4,04

,836

Fund

rev

enue

acc

ount

at

the

end

of th

e Y

ear

24,

819

31,

08,0

45

8,8

1,98

3 (9

,503

) 5

2,76

6 3

,74,

656

(11,

186)

(18,

556)

12,

332

(59,

258)

8,1

9,39

4 5

,90,

800

(61,

695)

28,

26,1

69

* N

et c

hang

e in

mar

ked

to m

arke

t val

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f inv

estm

ents


Ann

exur

e 4A

- Fi

nanc

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tate

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ts o

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Lin

ked

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s F

orm

A- R

A (U

L) (C

ontin

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Nam

e of

the

Insu

rer:

TA

TA A

IA L

IFE

INS

UR

AN

CE

CO

MP

AN

Y L

IMIT

ED

R

egis

trat

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No

110

Dat

e of

Reg

istr

atio

n w

ith IR

DA

I: Fe

brua

ry 1

2, 2

001

Fun

d B

alan

ce s

heet

as

at M

ar 3

1, 2

016

(`‘0

00)

CU

RR

EN

T Y

EA

R

Part

icul

ars

Sche

dule

Sup

er

110%

C

apita

l G

uran

tee

Fund

Ape

x Pl

us

Inve

stm

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Fund

Ape

x Pl

us

Ret

urn

Lock

-in

Fund

Ape

x Pl

us

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urn

Lock

-in

Fund

II

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cont

inua

nce

Polic

y Fu

nd

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x Su

prem

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vest

men

t Fu

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prem

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etur

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Fu

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x Su

prem

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vest

men

t Fu

nd II

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Fu

nd II

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prem

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vest

men

t Fu

nd II

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x Su

prem

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n Lo

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Fu

nd II

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ti C

ap

Fund

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onsu

mpt

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Fund

Tot

al

Inco

me

fro

m in

vest

men

ts

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Insu

rer:

TA

TA A

IA L

IFE

INS

UR

AN

CE

CO

MP

AN

Y L

IMIT

ED

R

egis

trat

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No

110

Dat

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DA

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Nam

e of

the

Insu

rer:

TA

TA A

IA L

IFE

INS

UR

AN

CE

CO

MP

AN

Y L

IMIT

ED

Reg

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o 11

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TA A

IA L

IFE

INS

UR

AN

CE

CO

MP

AN

Y L

IMIT

ED

R

egis

trat

ion

No

110

Dat

e of

Reg

istr

atio

n w

ith IR

DA

I: Fe

brua

ry 1

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001

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I: Fe

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le:

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SU

RA

NC

E C

OM

PAN

Y L

IMIT

ED

Reg

istr

atio

n N

o 1

10

Dat

e o

f R

egis

trat

ion

wit

h IR

DA

: Fe

bru

ary

12, 2

001

Fun

d B

alan

ce s

hee

t as

at

Mar

31,

201

6

(` ‘0

00)

CU

RR

EN

T Y

EA

R

Part

icul

ars

Sche

dule

Eq

uity

In

com

e Li

quid

Shor

t ter

m

Bon

d Fu

nd

Bal

ance

d Fu

nd

Gro

wth

Fu

nd

Max

ima

Fund

Fu

ture

Bal

Pe

nsio

n

Futu

re C

ap

Gua

rant

ee

Futu

re

Equi

ty

Pens

ion

Futu

re

Gro

wth

Pe

nsio

n

Futu

re In

c Pe

nsio

n

Futu

re

Sele

ct

Equi

ty

Supe

r Sel

ect

Equi

ty

Pens

ion

Fund

Ape

x Pe

nsio

n In

vest

men

t Fu

nd

So

urc

es o

f Fu

nd

s P

olic

yhol

ders

' Fu

nds:

Po

licyh

olde

r co

ntrib

utio

n F

-1

61,8

681,

069,

241

58,6

68

(41,

973)

110,

517

322,

198

(14,

093)

(24,

912)

72,

464

16,

730

434

,078

1

14,2

71

111

,579

5

2,04

1 4

5,71

0 5

76

Rev

enue

Acc

ount

57

2,78

4 1,

368,

971

151,

711

107

,494

47

4,24

8 34

2,45

4 1

4,09

3 2

4,91

2 3

4,53

6 9

,632

9

36,7

05

63,

986

87,

927

165

,432

1

50,5

87

(576

)

Tota

l 63

4,65

2 2,

438,

212

210,

379

65,

521

584,

765

664,

652

(0)

(0)

107

,001

2

6,36

3 1

,370

,783

1

78,2

57

199

,506

2

17,4

73

196

,297

(0

)

App

licat

ion

of F

unds

Inve

stm

ents

F

-2

615,

744

2,3

57,8

74

210,

250

63,

299

578,

376

653,

240

(0)

-

105

,198

2

5,61

6 1

,367

,680

1

75,8

39

196

,740

2

00,6

93

179

,322

-

Cur

rent

Ass

ets

F-3

18

,950

1

00,6

11

132

2,22

3 11

,427

11

,412

0

0

1

,966

7

47

4,6

31

2,5

01

4,5

14

16,

943

17,

547

-

Less

: Cur

rent

Li

abili

ties

and

Prov

isio

ns

F-4

4

2 2

0,27

3 3

1

5,03

8 -

0

-

1

64

-

1,5

28

83

1,7

48

163

5

71

-

Net

cur

rent

ass

ets

18,9

08

80,

338

129

2,22

2 6,

389

11,4

12

0

(0)

1,8

02

747

3

,103

2

,418

2

,766

1

6,78

0 1

6,97

6 -

Tota

l 63

4,65

2 2

,438

,212

2

10,3

79

65,5

21

584,

765

664,

652

(0)

-

107

,000

2

6,36

3 1

,370

,783

1

78,2

57

199

,506

2

17,4

73

196

,297

-

N

et A

sset

as

per

Bal

ance

She

et

(A)

634

,652

2

,438

,212

2

10,3

79

65,

521

584

,765

6

64,6

52

(0)

-

107

,000

2

6,36

3 1

,370

,783

1

78,2

57

199

,506

2

17,4

73

196

,297

-

(Tot

al A

sset

s le

ss

Cur

rent

Lia

bilit

ies

and

Prov

isio

ns)

Arr

ived

AU

M

634

,652

2

,438

,212

2

10,3

79

65,

521

584

,765

6

64,6

52

(0)

-

107

,000

2

6,36

3 1

,370

,783

1

78,2

57

199

,506

2

17,4

73

196

,297

-

N

umbe

r of U

nits

ou

tsta

ndin

g (B

) 12

,814

.14

105

,368

.34

9,4

02.1

1 3

,317

.62

29,

564.

98

35,5

05.7

3 -

-

5

,952

.41

1,5

78.5

6 7

1,23

7.66

9

,930

.60

10,

734.

98

7,0

55.7

1 9

,844

.00

-

Net

Ass

et V

alue

pe

r U

nit

(A)/(

B)

49.

5274

2

3.13

99

22.

3757

1

9.74

94

19.

7790

1

8.71

96

--

17.

9759

1

6.70

06

19.

2424

1

7.95

02

18.

5846

3

0.82

22

19.

9408

-


An

nex

ure

4B

- F

inan

cial

Sta

tem

ents

of

Pen

sio

n L

inke

d B

usi

nes

s

Form

A-B

S (

UL

) (C

on

tin

ued

)

Nam

e o

f th

e In

sure

r: T

ATA

AIA

LIF

E IN

SU

RA

NC

E C

OM

PAN

Y L

IMIT

ED

Reg

istr

atio

n N

o 1

10

Dat

e o

f R

egis

trat

ion

wit

h IR

DA

: Fe

bru

ary

12, 2

001

Fun

d B

alan

ce s

hee

t as

at

Mar

31,

201

6

(` ‘0

00)

CU

RR

EN

T Y

EA

R

Part

icul

ars

Sche

dule

A

pex

Pens

ion

10 In

vest

men

t Fu

nd

Ape

x Pe

nsio

n 15

Inve

stm

ent

Fund

Ape

x Pe

nsio

n 20

Inve

stm

ent

Fund

Ape

x Pe

nsio

n R

etur

n Lo

ck-in

Fu

nd

Ape

x Pe

nsio

n 10

Ret

urn

Lock

-in F

und

Ape

x Pe

nsio

n 15

Ret

urn

Lock

-in F

und

Ape

x Pe

nsio

n 20

Ret

urn

Lock

-in F

und

Ape

x Pe

nsio

n R

etur

n Lo

ck-in

Fu

nd II

Ape

x Pe

nsio

n 10

Ret

urn

Lock

-in F

und

II

Ape

x Pe

nsio

n 15

Ret

urn

Lock

-in F

und

II

Ape

x Pe

nsio

n 20

Ret

urn

Lock

-in F

und

II

Tot

al

So

urc

es o

f Fu

nd

s

Pol

icyh

olde

rs' F

unds

:

Polic

yhol

der c

ontri

butio

n F

-1

15,

291

4,6

19

1,8

40

14,

042

628

,307

1

96,6

20

17,

730

56,

522

163

,849

5

0,18

9 7

,268

3

,545

,239

Rev

enue

Acc

ount

(1

5,29

1) (4

,619

) (1

,063

) 8

,226

3

32,0

41

64,

343

11,

369

16,

766

57,

448

1,0

21

1,1

34

4,9

76,2

71

Tota

l (0

) (0

) 7

77

22,

268

960

,348

2

60,9

63

29,

099

73,

288

221

,297

5

1,21

0 8

,402

8

,521

,511

App

licat

ion

of F

unds

Inve

stm

ents

F

-2

-

-

510

2

1,61

1 9

41,8

83

259

,600

2

8,64

7 7

1,56

0 2

16,8

80

50,

825

8,1

41

8,3

29,5

25

Cur

rent

Ass

ets

F-3

0

0

2

67

661

2

1,57

4 1

,687

4

54

1,7

44

4,6

44

391

2

62

225

,286

Less

: Cur

rent

Lia

bilit

ies

and

Prov

isio

ns

F-4

0

0

-

4

3

,109

3

24

2

15

227

6

1

3

3,30

1

Net

cur

rent

ass

ets

(0)

(0)

267

6

57

18,

465

1,3

63

452

1

,729

4

,417

3

85

261

1

91,9

85

Tota

l (0

) (0

) 7

77

22,

268

960

,348

2

60,9

63

29,

099

73,

288

221

,297

5

1,21

0 8

,402

8

,521

,510

N

et A

sset

as

per

Bal

ance

S

heet

(A

) (0

) (0

) 7

77

22,

268

960

,348

2

60,9

63

29,

099

73,

288

221

,297

5

1,21

0 8

,402

8

,521

,510

(Tot

al A

sset

s le

ss C

urre

nt

Liab

ilitie

s an

d Pr

ovis

ions

)

Arr

ived

AU

M

(0)

(0)

777

2

2,26

8 9

60,3

48

260

,963

2

9,09

9 7

3,28

8 2

21,2

97

51,

210

8,4

02

Num

ber o

f Uni

ts o

utst

andi

ng

(B)

-

-

77.

60

1,3

90.9

5 6

0,05

0.29

1

6,66

2.33

1

,833

.64

5,0

43.1

8 1

5,34

8.00

3

,523

.67

586

.22

Net

Ass

et V

alue

pe

r U

nit

(A)/(

B)

--

10.

0161

1

6.00

92

15.

9924

1

5.66

19

15.

8696

1

4.53

22

14.

4186

1

4.53

30

14.

3331


An

nex

ure

4B

- F

inan

cial

Sta

tem

ents

of

Pen

sio

n L

inke

d B

usi

nes

s

Fo

rm A

- R

A (

UL

)

Nam

e o

f th

e In

sure

r: T

ATA

AIA

LIF

E IN

SU

RA

NC

E C

OM

PAN

Y L

IMIT

ED

Reg

istr

atio

n N

o 1

10

Dat

e o

f R

egis

trat

ion

wit

h IR

DA

: Fe

bru

ary

12, 2

001

Fu

nd

Rev

enu

e A

cco

un

t fo

r th

e p

erio

d e

nd

ed M

ar 3

1 20

16

(` ‘0

00)

CU

RR

EN

T Y

EA

R

Part

icul

ars

Sche

dule

E

quity

In

com

e

Liq

uid

S

hort

te

rm

Bon

d Fu

nd

Bal

ance

d Fu

nd

Gro

wth

Fu

nd

Max

ima

Fund

F

utur

e B

al

Pens

ion

F

utur

e C

ap

Gua

rant

ee

Fut

ure

Equi

ty

Pens

ion

Fut

ure

Gro

wth

Pe

nsio

n

Fut

ure

Inc

Pens

ion

Fut

ure

Sele

ct

Equi

ty

Sup

er

Sele

ct E

quity

Pe

nsio

n Fu

nd

Inco

me

fro

m in

vest

men

ts

Inte

rest

inco

me

690

1

66,8

77

16,

870

4,8

26

41,

245

41,

862

776

-

7

,766

1

,826

1

,025

1

0,70

6 1

7,81

9 -

-

Div

iden

d in

com

e 1

0,26

8 -

-

-

-

1

,356

9

1 -

1

78

57

20,

196

834

-

2

,658

2

,490

Profi

t/los

s on

sal

e of

in

vest

men

t 7

1,33

8 3

8,44

9 9

28

685

8

,581

6

,404

5

,165

-

2

,664

8

60

261

,572

7

,762

2

,869

6

4,27

5 7

8,98

5

Profi

t/los

s on

inte

r fun

d tra

nsfe

r/ sa

le o

f inv

estm

ent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mis

cella

neou

s In

com

e 6

0

0

0

0

0

0

-

0

0

9

0

0

0

0

Unr

ealis

ed G

ain/

loss

* (1

28,7

89)

(14,

971)

-

(388

) (4

,310

) (1

4,82

8) (5

,945

) -

(3

,956

) (1

,137

) (3

66,8

13)

(13,

674)

(1,3

25)

(79,

956)

(95,

413)

App

ropr

iatio

n In

com

e/

Exap

prop

riatio

n Lo

ss (

net)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tota

l (A

) (4

6,48

7) 1

90,3

55

17,

797

5,1

23

45,

516

34,

794

87

-

6,6

52

1,6

05

(84,

011)

5,6

28

19,

363

(13,

022)

(13,

938)

Fund

man

agem

ent

expe

nses

5

,412

8

,641

9

29

137

3

,222

2

,593

1

00

-

1,2

16

424

1

9,50

2 2

,286

2

,400

3

,806

3

,007

Fund

adm

inis

tratio

n ex

pens

es

-

-

-

-

-

-

-

-

633

9

4 8

,221

1

,199

1

,368

1

,205

1

,581

Oth

er c

harg

es:

F-5

1

,269

3

,285

2

79

104

7

70

930

2

0 -

3

16

72

5,1

66

603

7

40

1,2

02

675

Tota

l (B

) 6

,681

1

1,92

7 1

,208

2

40

3,9

92

3,5

23

120

-

2

,164

5

90

32,

889

4,0

88

4,5

08

6,2

14

5,2

63

Net

Inco

me

for

the

year

(A

-B)

(53,

167)

178

,429

1

6,58

9 4

,883

4

1,52

4 3

1,27

1 (3

3) -

4

,488

1

,015

(1

16,9

00)

1,5

40

14,

855

(19,

236)

(19,

201)

Add

: Fun

d re

venu

e ac

coun

t at

the

begi

nnin

g of

the

perio

d 6

25,9

52

1,1

90,5

42

135

,122

1

02,6

12

432

,724

3

11,1

83

14,

126

24,

912

30,

049

8,6

17

1,0

53,6

05

62,

446

73,

073

184

,668

1

69,7

88

Fund

rev

enue

acc

ount

at

the

end

of th

e P

erio

d 5

72,7

84

1,3

68,9

71

151

,711

1

07,4

94

474

,248

3

42,4

54

14,

093

24,

912

34,

536

9,6

32

936

,705

6

3,98

6 8

7,92

8 1

65,4

32

150

,587

* N

et c

hang

e in

mar

ked

to m

arke

t val

ue o

f inv

estm

ents

In

stru

ctio

ns: A

ny e

xpen

se w

hich

is 1

% o

f the

tota

l exp

ense

s in

curr

ed s

houl

d be

dis

clos

ed a

s a

sepa

rate

line

item

.


An

nex

ure

4B

- F

inan

cial

Sta

tem

ents

of

Pen

sio

n L

inke

d B

usi

nes

s

Fo

rm A

- R

A (

UL

) (C

on

tin

ued

)

Nam

e o

f th

e In

sure

r: T

ATA

AIA

LIF

E IN

SU

RA

NC

E C

OM

PAN

Y L

IMIT

ED

Reg

istr

atio

n N

o 1

10

Dat

e o

f R

egis

trat

ion

wit

h IR

DA

: Fe

bru

ary

12, 2

001

Fu

nd

Rev

enu

e A

cco

un

t fo

r th

e p

erio

d e

nd

ed M

ar 3

1 20

16

(` ‘0

00)

CU

RR

EN

T Y

EA

R

Part

icul

ars

Sche

dule

Ape

x Pe

nsio

n In

vest

men

t Fu

nd

Ape

x Pe

nsio

n 10

In

vest

men

t Fu

nd

Ape

x Pe

nsio

n 15

In

vest

men

t Fu

nd

Ape

x Pe

nsio

n 20

In

vest

men

t Fu

nd

Ape

x Pe

nsio

n R

etur

n Lo

ck-

in F

und

Ape

x Pe

nsio

n 10

R

etur

n Lo

ck-

in F

und

Ape

x Pe

nsio

n 15

R

etur

n Lo

ck-

in F

und

Ape

x Pe

nsio

n 20

R

etur

n Lo

ck-

in F

und

Ape

x Pe

nsio

n R

etur

n Lo

ck-

in F

und

II

Ape

x Pe

nsio

n 10

R

etur

n Lo

ck-

in F

und

II

Ape

x Pe

nsio

n 15

R

etur

n Lo

ck-

in F

und

II

Ape

x Pe

nsio

n 20

R

etur

n Lo

ck-

in F

und

II

Tot

al

Inco

me

fro

m in

vest

men

ts

Inte

rest

inco

me

-

1

1

3

1,1

62

51,

070

10,

203

883

3

,738

1

2,14

7 1

,874

2

60

393

,627

Div

iden

d in

com

e -

-

-

-

1

41

6,6

26

2,3

36

310

5

07

1,7

62

443

1

03

50,

356

Profi

t/los

s on

sal

e of

in

vest

men

t -

-

-

-

1

,910

1

23,0

62

32,

380

4,1

30

5,4

77

22,

890

2,0

16

748

7

43,1

52

Profi

t/los

s on

inte

r fun

d tra

nsfe

r/ sa

le o

f inv

estm

ent

-

-

-

-

-

-

-

-

-

-

-

-

-

Mis

cella

neou

s In

com

e -

-

-

0

0

0

0

0

0

0

0

0

1

5

Unr

ealis

ed G

ain/

loss

* -

-

-

-

(2

,738

) (1

61,7

84)

(45,

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houl

d be

dis

clos

ed a

s a

sepa

rate

line

item

.


Ann

exur

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- Fi

nanc

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tate

men

ts o

f Life

Lin

ked

Bus

ines

sFo

rm A

- BS

(UL)

Nam

e of

the

Insu

rer:

TA

TA A

IA L

IFE

INS

UR

AN

CE

CO

MP

AN

Y L

IMIT

ED

Reg

istr

atio

n N

o 11

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of R

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IRD

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Febr

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1 F

und

Bal

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she

et a

s at

Mar

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(` ‘0

00)

Part

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S

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E

quit

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Inco

me

L

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id

Bal

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d

Gro

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A

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Sta

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F

ixed

In

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Equ

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Wh

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Life

In

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ho

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Ag

gre

ssiv

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ho

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Sta

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Wh

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In

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Cap

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G

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So

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Po

licyh

olde

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ntrib

utio

n F

-1

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47,3

66

5,0

6,43

2 9

2,37

6 1

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4,3

9,73

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1,4

0,98

9 1

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109

59,

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33

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54

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5

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Rev

enue

Acc

ount

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1

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1,5

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5

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80,0

81

2,5

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(9,9

75)

Tota

l 1

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33,2

41

8,8

2,37

1 1

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082

4,1

1,68

8 1

4,08

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1

9,95

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2

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952

2,0

4,93

0 2

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80,2

14

24,

72,8

99

40,

50,8

68

8,6

5,91

6 1

3,13

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4

9,00

4

App

licat

ion

of F

unds

Inve

stm

ents

F

-2

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8

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245

1,6

1,17

4 4

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955

13,

95,1

92

19,

72,8

06

2,5

6,29

6 2

,00,

768

2,1

5,71

,351

2

4,67

,323

3

9,69

,460

8

,49,

406

12,

81,8

58

48,

251

Cur

rent

Ass

ets

F-3

1

,15,

164

30,

948

112

5

,790

1

3,60

3 2

6,32

4 3

,785

5

,133

4

3,95

6 8

4,78

4 8

2,21

8 1

6,51

0 3

4,07

5 1

,018

Less

: Cur

rent

Li

abili

ties

and

Prov

isio

ns

F-4

2

4,86

8 3

1,82

2 2

04

57

-

3,3

09

129

9

71

35,

093

79,

208

810

-

2

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2

65

Net

cur

rent

ass

ets

90,

296

(874

) (9

2) 5

,733

1

3,60

3 2

3,01

5 3

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4

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8

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5

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8

1,40

8 1

6,51

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1,85

7 7

53

Tota

l 1

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33,2

41

8,8

2,37

1 1

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082

4,1

1,68

8 1

4,08

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1

9,95

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2

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952

2,0

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0 2

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14

24,

72,8

99

40,

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68

8,6

5,91

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3,13

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4

9,00

4 N

et A

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Bal

ance

She

et

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8

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1,6

1,08

2 4

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688

14,

08,7

95

19,

95,8

21

2,5

9,95

2 2

,04,

930

2,1

5,80

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2

4,72

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4

0,50

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8

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916

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13,7

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004

(Tot

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sset

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ss

Cur

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Lia

bilit

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and

Prov

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Num

ber o

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ts

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Net

Ass

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8.65

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32.

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27

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94

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1952

1

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80


Ann

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INS

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Reg

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Rev

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Tota

l 5

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5

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829

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70

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App

licat

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of F

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Inve

stm

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F

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01

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77

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462

8,7

9,92

0 1

9,73

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1

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3,40

7 1

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333

-

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49,8

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13

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3

Cur

rent

Ass

ets

F-3

3

01

2,2

43

47,

304

90,

598

553

2

3,82

4 2

0,94

3 2

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2

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2

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-

7

2,81

3 5

1,95

6 3

,266

Less

: Cur

rent

Lia

bilit

ies

and

Prov

isio

ns

F-4

4

6 1

,016

4

0,08

2 4

2,96

9 7

3 1

4,91

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9,78

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1

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Net

cur

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ass

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1

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l 5

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5

6,12

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Net

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(Tot

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Cur

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Num

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Net

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Ann

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A- B

S (U

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INS

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Reg

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Tot

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Po

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17,4

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10,

205

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2,9

8,77

1 4

9,24

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3

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6 5

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208

3,7

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4 1

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4,80

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227

Rev

enue

Acc

ount

3

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(1

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5) 3

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650

72,

605

6,9

6,38

6 (3

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) 1

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112

(2,3

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707

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80,

552

4,44

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535

Tota

l 9

1,22

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1

1,52

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1

4,60

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3

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376

56,

20,6

48

32,

713

6,9

2,32

0 1

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3

,54,

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9,7

98

4,1

5,29

4 9,

25,2

2,76

2

App

licat

ion

of F

unds

Inve

stm

ents

F

-2

90,

64,6

22

11,

063

-

14,

35,3

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3,6

4,34

1 5

5,97

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1

9,64

5 6

,77,

283

211

3

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498

7,6

04

4,0

9,90

2 9,

19,2

6,91

0

Cur

rent

Ass

ets

F-3

1

,55,

649

496

-

3

5,35

3 7

,122

2

5,26

6 1

3,06

8 1

5,22

9 1

,150

7

,353

2

,194

7

,825

10

,56,

241

Less

: Cur

rent

Li

abili

ties

and

Prov

isio

ns

F-4

9

7,93

6 3

0 -

1

0,65

3 8

7 2

,574

-

1

92

-

-

-

2,4

33

4,60

,389

Net

cur

rent

ass

ets

57,

713

466

-

2

4,70

0 7

,035

2

2,69

2 1

3,06

8 1

5,03

7 1

,150

7

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2

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5

,392

5,

95,8

52

Tota

l 9

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1

1,52

9 -

1

4,60

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3

,71,

376

56,

20,6

48

32,

713

6,9

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0 1

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3

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9,7

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et A

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as

per

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She

et

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3,7

1,37

6 5

6,20

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3

2,71

3 6

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320

1,3

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3,5

4,85

1 9

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4

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294

9,25

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762

(Tot

al A

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ss

Cur

rent

Lia

bilit

ies

and

Prov

isio

ns)

Num

ber o

f Uni

ts

outs

tand

ing

4,0

8,00

1.99

7

79.5

4 -

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2,23

8.25

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6,15

1.11

4

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012.

64

3,2

65.2

3 4

6,02

2.04

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Net

Ass

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2

2.35

86

14.

7892

-

15.

8288

1

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12

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1

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86

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9

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7 1

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02


Ann

exur

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nanc

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tate

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ts o

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Lin

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sFo

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(UL)

Nam

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Insu

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TA

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IA L

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INS

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AN

CE

CO

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AN

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Reg

istr

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Febr

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ccou

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Mar

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Part

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Sche

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E

quity

In

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Liq

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alan

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Gro

wth

A

ggre

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tabl

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hole

Life

Eq

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W

hole

Life

In

com

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hole

Life

A

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ssiv

e W

hole

Life

St

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Who

le

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Fix

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Inco

me

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33,

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Profi

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Profi

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Unr

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(12)

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1,4

1,67

7 8

5,96

3 1

2,07

5 8

24

52,

26,9

96

93,

550

4,3

2,10

4 7

3,76

7 6

,347

1

,944

2

52

App

ropr

iatio

n In

com

e/

Exap

prop

riatio

n Lo

ss (

net)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tota

l (A

) 5

5,30

,946

1

,52,

808

14,

656

81,

320

3,6

1,35

9 6

,04,

312

64,

189

25,

724

1,0

9,45

,897

3

,81,

385

11,

79,3

71

2,0

6,75

9 1

,38,

814

8,2

35

1,4

17

Fund

man

agem

ent

expe

nses

3

,56,

568

12,

131

1,4

76

5,5

77

21,

873

34,

784

4,0

86

2,3

53

2,3

2,85

0 1

9,50

5 4

4,70

4 8

,815

9

,169

7

91

94

Fund

adm

inis

tratio

n ex

pens

es

85,

529

2,4

05

239

9

53

3,1

49

9,3

27

1,3

23

1,0

88

66,

650

12,

387

17,

579

4,2

76

5,8

56

361

2

1

Oth

er c

harg

es:

F-5

3

,74,

888

20,

116

1,6

54

3,5

77

11,

734

38,

453

8,9

49

7,3

29

2,4

3,34

1 3

8,34

6 6

4,70

1 1

4,97

6 2

0,85

6 3

,084

1

07

Tota

l (B

) 8

,16,

985

34,

652

3,3

69

10,

107

36,

756

82,

564

14,

358

10,

770

5,4

2,84

1 7

0,23

8 1

,26,

984

28,

067

35,

881

4,2

36

222

Net

Inco

me

for

the

year

(A

-B)

47,

13,9

61

1,1

8,15

6 1

1,28

7 7

1,21

3 3

,24,

603

5,2

1,74

8 4

9,83

1 1

4,95

4 1

,04,

03,0

56

3,1

1,14

7 1

0,52

,387

1

,78,

692

1,0

2,93

3 3

,999

1

,195

Add

: Fun

d re

venu

e ac

coun

t at

the

begi

nnin

g of

the

year

6

9,71

,914

2

,57,

783

57,

419

2,1

0,55

8 6

,44,

456

5,9

3,71

8 6

9,13

2 5

1,86

7 5

1,87

,825

2

,04,

298

5,2

7,69

4 8

0,40

3 1

,46,

516

(13,

974)

1,1

39

Fund

rev

enue

acc

ount

at

the

end

of th

e ye

ar

1,16

,85,

875

3,7

5,93

9 6

8,70

6 2

,81,

771

9,6

9,05

9 1

1,15

,466

1

,18,

963

66,

821

1,55

,90,

881

5,1

5,44

5 1

5,80

,081

2

,59,

095

2,4

9,44

9 (9

,975

) 2

,334

* N

et c

hang

e in

mar

ked

to m

arke

t val

ue o

f inv

estm

ents


Ann

exur

e 4A

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nanc

ial S

tate

men

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f Life

Lin

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Bus

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sFo

rm A

- RA

(UL)

(Con

tinue

d)

Nam

e of

the

Insu

rer:

TA

TA A

IA L

IFE

INS

UR

AN

CE

CO

MP

AN

Y L

IMIT

ED

Reg

istr

atio

n N

o 11

0D

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of R

egis

trat

ion

with

IRD

AI:

Febr

uary

12,

200

1Fu

nd R

even

ue A

ccou

nt fo

r th

e ye

ar e

nded

31

Mar

ch, 2

015

(` ‘0

00)

Part

icul

ars

Sche

dule

G

row

th

Max

imis

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Lar

ge C

ap

Equi

ty

Sel

ect

Equi

ty

Fund

UC

G

-110

%

Cap

ital

Gua

rant

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Fund

TO

P-50

T

OP-

200

A

GG

RES

SIVE

FL

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A

PEX

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In F

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II

In

frast

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Fund

Sup

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elec

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Fun

d

Inco

me

fro

m in

vest

men

ts

Inte

rest

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me

1,8

29

1,6

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-

2,2

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21

8,3

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8,6

74

14,

696

1

1,2

6,46

6 9

7,91

8 1

7 -

Div

iden

d in

com

e 8

26

1,2

8,79

7 2

3,34

5 7

5 1

3,97

4 2

4,98

1 9

97

306

-

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1

9,21

1 1

5,85

4 5

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8

1,60

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Profi

t/los

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sal

e of

in

vest

men

t 2

1,48

7 1

8,67

,103

7

,76,

541

1,9

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2,1

4,63

1 2

,96,

342

14,

070

5,9

76

7,5

07

-

4,3

6,99

8 2

,94,

391

94,

802

18,

71,7

21

Profi

t/los

s on

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r fun

d tra

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le o

f inv

estm

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-

-

-

-

-

-

-

-

-

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Mis

cella

neou

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com

e -

-

-

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-

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-

Unr

ealis

ed G

ain/

loss

* (4

,214

) 9

,78,

821

1,0

0,26

5 9

29

45,

916

4,9

1,34

3 1

7,51

7 8

,454

7

,073

-

3

0,52

3 5

9,04

1 1

,29,

345

14,

46,1

99

App

ropr

iatio

n In

com

e/

Exap

prop

riatio

n Lo

ss (

net)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tota

l (A

) 1

9,92

8 2

9,76

,352

9

,00,

151

5,1

55

2,7

4,52

9 8

,12,

687

40,

900

23,

410

29,

276

1

6,1

3,19

8 4

,67,

204

2,3

0,05

0 3

3,99

,520

Fund

man

agem

ent

expe

nses

1

,251

1

,20,

260

31,

644

729

1

2,60

7 2

5,45

0 2

,285

1

,642

2

,253

-

4

4,09

7 3

3,34

9 6

,502

9

9,95

9

Fund

adm

inis

tratio

n ex

pens

es

357

7

0,53

0 1

0,64

2 3

18

12,

638

23,

583

2,5

29

1,9

17

1,8

97

22

8,7

91

6,7

95

8,0

39

60,

615

Oth

er c

harg

es:

F-5

2

,039

2

,38,

001

94,

756

2,9

17

22,

541

42,

936

3,3

64

3,3

03

3,5

62

12

30,

066

25,

153

6,0

86

1,1

7,29

8

Tota

l (B

) 3

,647

4

,28,

791

1,3

7,04

2 3

,964

4

7,78

6 9

1,96

9 8

,178

6

,862

7

,712

3

4 8

2,95

4 6

5,29

7 2

0,62

7 2

,77,

872

Net

Inco

me

for

the

year

(A

-B)

16,

281

25,

47,5

61

7,6

3,10

9 1

,191

2

,26,

743

7,2

0,71

8 3

2,72

2 1

6,54

8 2

1,56

4 (3

3) 5

,30,

244

4,0

1,90

7 2

,09,

423

31,

21,6

48

Add

: Fun

d re

venu

e ac

coun

t at

the

begi

nnin

g of

the

year

9

,877

1

3,34

,529

2

,59,

382

(10,

675)

(1,1

7,96

7) (2

,16,

418)

(41,

660)

(37,

102)

(14,

848)

(59,

308)

2,6

9,45

7 1

,71,

988

(2,3

1,22

9) 2

,83,

188

Fund

rev

enue

acc

ount

at

the

end

of th

e ye

ar

26,

158

38,

82,0

90

10,

22,4

91

(9,4

84)

1,0

8,77

6 5

,04,

300

(8,9

38)

(20,

554)

6,7

16

(59,

341)

7,9

9,70

1 5

,73,

895

(21,

806)

34,

04,8

36

* N

et c

hang

e in

mar

ked

to m

arke

t val

ue o

f inv

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Ann

exur

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ial S

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f Life

Lin

ked

Bus

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s Fo

rm A

- RA

(UL)

(Con

tinue

d)

Nam

e of

the

Insu

rer:

TA

TA A

IA L

IFE

INS

UR

AN

CE

CO

MP

AN

Y L

IMIT

ED

R

egis

trat

ion

No

110

Dat

e of

Reg

istr

atio

n w

ith IR

DA

I: Fe

brua

ry 1

2, 2

001

Fund

Rev

enue

Acc

ount

for

the

year

end

ed 3

1 M

arch

, 201

5 (`

‘000

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Part

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ars

Sche

dule

Sup

er 1

10%

C

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Fund

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x Pl

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Inve

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Fund

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Ret

urn

Lock

-in

Fun

d

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x Pl

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Lock

-in

Fun

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Dis

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nce

Polic

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Inco

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975

5

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6 1

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9 3

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936

299

2

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9,7

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9

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Div

iden

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6 -

1

1,13

6 2

,818

-

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5

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-

2

,490

-

3

,140

8

,86,

262

Profi

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e of

in

vest

men

t 7

61

-

1,1

1,79

6 2

4,37

5 2

5,91

0 -

3

4,77

4 -

1

0,37

6 -

1

3,69

7 1

,75,

88,6

06

Profi

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inte

r fun

d tra

nsfe

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le o

f inv

estm

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-

-

-

-

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Mis

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e -

-

-

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Unr

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ain/

loss

* 6

51

-

1,3

2,24

5 3

4,68

2 (1

76)

-

80,

637

-

44,

870

-

51,

320

1,0

6,79

,622

App

ropr

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n In

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Exap

prop

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n Lo

ss (

net)

-

-

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-

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Tota

l (A

) 2

,413

5

3

,11,

213

74,

644

4,0

7,67

0 2

99

1,4

1,02

3 1

67

67,

449

220

7

7,62

9 3

,05,

72,2

85

Fund

man

agem

ent

expe

nses

1

74

2

17,

447

4,2

00

-

44

8,5

05

26

4,1

38

33

4,7

11

11,

76,0

84

Fund

adm

inis

tratio

n ex

pens

es

219

5

4 2

,928

7

05

-

81

5,6

02

60

3,1

13

66

3,6

89

4,3

6,33

3

Oth

er c

harg

es:

F-5

4

55

34

15,

747

3,3

59

19,

966

99

8,6

00

77

4,2

60

77

6,0

22

15,

02,8

41

Tota

l (B

) 8

48

90

36,

122

8,2

64

19,

966

224

2

2,70

7 1

63

11,

511

176

1

4,42

2 3

1,15

,258

Net

Inco

me

for

the

year

(A

-B)

1,5

65

(85)

2,7

5,09

1 6

6,38

0 3

,87,

704

75

1,1

8,31

6 4

5

5,93

8 4

4 6

3,20

7 2

,74,

57,0

27

Add

: Fun

d re

venu

e ac

coun

t at

the

begi

nnin

g of

the

year

(3

,195

) (1

0,12

0) 6

0,55

9 6

,225

3

,08,

682

(3,4

58)

28,

796

(2,3

51)

20,

769

(2,7

06)

17,

345

1,7

0,10

,508

Fund

rev

enue

acc

ount

at

the

end

of th

e ye

ar

(1,6

30)

(10,

205)

3,3

5,65

0 7

2,60

5 6

,96,

386

(3,3

83)

1,4

7,11

2 (2

,347

) 7

6,70

7 (2

,662

) 8

0,55

2 4

,44,

67,5

35

* N

et c

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e in

mar

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arke

t val

ue o

f inv

estm

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Ann

exur

e 4A

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ial S

tate

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to F

und

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ance

she

et a

s at

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ch 3

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015

Nam

e of

the

Insu

rer:

TA

TA A

IA L

IFE

INS

UR

AN

CE

CO

MP

AN

Y L

IMIT

ED

R

egis

trat

ion

No

110

Dat

e of

Reg

istr

atio

n w

ith IR

DA

I: Fe

brua

ry 1

2, 2

001

SC

HE

DU

LE: F

-1 P

OLI

CY

HO

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RS

’ CO

NTR

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(` ‘0

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Part

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me

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row

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Agg

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Sta

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Fix

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Eq

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W

hole

Life

In

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Life

A

ggre

ssiv

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Life

St

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Who

le

Life

Fix

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Inco

me

Cap

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rant

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Ope

ning

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1

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8,6

9,03

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44,8

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2,5

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7,88

,762

2

2,30

,410

3

1,97

,702

7

,61,

330

13,

17,1

90

70,

276

Add

ition

s du

ring

the

Perio

d *

12,

07,2

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1,8

1,14

5 7

0,48

8 3

9,04

7 9

1,89

5 1

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38,

577

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2,08

6 1

8,42

,815

1

0,11

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4

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437

1,8

5,79

9 6

,31,

164

6,1

95

Ded

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ns d

urin

g th

e Pe

riod

* (8

1,49

,012

) (5

,43,

744)

(91,

160)

(69,

536)

(2,5

7,22

8) (9

,21,

525)

(1,5

3,90

9) (2

,57,

563)

(66,

42,2

44)

(12,

84,6

84)

(11,

88,3

52)

(3,4

0,30

8) (8

,84,

088)

(17,

492)

Clo

sing

bal

ance

68,

47,3

66

5,0

6,43

2 9

2,37

6 1

,29,

917

4,3

9,73

6 8

,80,

355

1,4

0,98

9 1

,38,

109

59,

89,3

33

19,

57,4

54

24,

70,7

87

6,0

6,82

1 1

0,64

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5

8,97

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Part

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5

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0,72

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1

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5

2,14

7 1

0,95

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2

0,79

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2

,20,

181

1,7

4,32

8 2

,14,

652

59,

393

29,

62,2

72

21,

64,8

99

7,4

4,04

7

Add

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s du

ring

the

Perio

d *

702

4

,052

1

2,08

,178

2

,51,

142

2,9

04

1,0

5,26

5 2

,37,

332

27,

660

31,

552

88,

313

1,1

15

441

7

26

51,

144

Ded

uctio

ns d

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g th

e Pe

riod

* (2

,702

) (5

5,16

4) (3

5,26

,793

) (1

1,96

,259

) (2

1,62

5) (4

,20,

240)

(8,6

7,02

0) (7

0,85

6) (7

1,25

1) (1

,56,

952)

(1,1

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Y L

IMIT

ED

R

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trat

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No

110

Dat

e of

Reg

istr

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n w

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DA

I: Fe

brua

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2, 2

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edu

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F- 5

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th

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Insu

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TA

TA A

IA L

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INS

UR

AN

CE

CO

MP

AN

Y L

IMIT

ED

R

egis

trat

ion

No

110

Dat

e of

Reg

istr

atio

n w

ith IR

DA

I: Fe

brua

ry 1

2, 2

001

Sch

edu

le:

F- 5

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nex

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4B

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604

57,

894

11,

881

1,0

0,73

,887

(Tot

al A

sset

s le

ss C

urre

nt

Liab

ilitie

s an

d Pr

ovis

ions

)

Num

ber o

f Uni

ts o

utst

andi

ng

(B)

12.

49

58.

52

67.

80

1,6

62.2

8 8

0,38

1.90

2

2,98

5.54

2

,503

.60

5,8

63.3

1 2

0,41

3.30

3

,927

.58

800

.04

Net

Ass

et V

alue

pe

r U

nit

(A)/(

B)

9.9

981

10.

0072

1

0.00

32

15.

8887

1

5.89

62

15.

9054

1

6.46

90

14.

4644

1

4.38

30

14.

7401

1

4.85

00


An

nex

ure

4B

- F

inan

cial

Sta

tem

ents

of

Pen

sio

n L

inke

d B

usi

nes

s

Form

A-

RA

(U

L)

Nam

e o

f th

e In

sure

r: T

ATA

AIA

LIF

E IN

SU

RA

NC

E C

OM

PAN

Y L

IMIT

ED

Reg

istr

atio

n N

o 1

10

Dat

e o

f R

egis

trat

ion

wit

h IR

DA

: Fe

bru

ary

12, 2

001

Fun

d R

even

ue

Acc

ou

nt

for

the

year

en

ded

31

Mar

ch, 2

015

(` ‘0

00)

Part

icul

ars

Sche

dule

E

quity

In

com

e

Liq

uid

S

hort

te

rm

Bon

d Fu

nd

Bal

ance

d Fu

nd

Gro

wth

Fu

nd

Max

ima

Fund

F

utur

e B

al

Pens

ion

F

utur

e C

ap

Gua

rant

ee

Fut

ure

Equi

ty

Pens

ion

Fut

ure

Gro

wth

Pe

nsio

n

Fut

ure

Inc

Pens

ion

Fut

ure

Sele

ct

Equi

ty

Sup

er

Sele

ct E

quity

Pe

nsio

n Fu

nd

Inco

me

fro

m in

vest

men

ts

Inte

rest

inco

me

21

1,6

7,81

5 2

1,37

7 1

5,42

5 4

8,08

9 4

2,67

8 2

,446

5

,738

9

,475

2

,388

5

1

3,89

6 2

5,58

8 -

-

Div

iden

d in

com

e 9

,990

-

-

-

-

1

,498

1

54

-

240

7

0 2

6,43

7 1

,182

-

3

,347

3

,548

Profi

t/los

s on

sal

e of

in

vest

men

t 1

,35,

038

95,

576

1,7

10

3,1

04

44,

145

32,

141

584

1

,686

3

,973

1

,820

5

,03,

107

18,

954

11,

006

1,0

1,16

5 1

,03,

972

Profi

t/los

s on

inte

r fun

d tra

nsfe

r/ sa

le o

f inv

estm

ent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mis

cella

neou

s In

com

e -

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unr

ealis

ed G

ain/

loss

* 4

7,79

0 9

3,51

4 (2

0) 2

98

7,3

06

26,

048

4,4

03

875

9

,057

1

,582

1

,37,

002

14,

306

15,

624

31,

994

48,

025

App

ropr

iatio

n In

com

e/

Exap

prop

riatio

n Lo

ss (

net)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tota

l (A

) 1

,92,

839

3,5

6,90

5 2

3,06

7 1

8,82

7 9

9,54

0 1

,02,

365

7,5

87

8,2

99

22,

745

5,8

60

6,6

6,55

1 4

8,33

8 5

2,21

8 1

,36,

506

1,5

5,54

5

Fund

man

agem

ent

expe

nses

6

,924

8

,375

1

,044

6

69

3,6

48

2,6

75

335

4

43

1,4

29

529

2

5,76

9 2

,846

3

,345

4

,675

4

,527

Fund

adm

inis

tratio

n ex

pens

es

-

-

-

-

-

-

-

-

928

1

46

13,

466

2,0

41

2,2

27

1,8

30

3,6

13

Oth

er c

harg

es:

F-5

1

,266

2

,849

2

84

239

7

90

822

6

4 1

85

3,1

26

818

4

5,20

4 6

,075

6

,358

1

4,26

3 4

,249

Tota

l (B

) 8

,190

1

1,22

4 1

,328

9

08

4,4

38

3,4

97

399

6

28

5,4

83

1,4

93

84,

439

10,

962

11,

930

20,

768

12,

389

Net

Inco

me

for

the

year

(A

-B)

1,8

4,64

9 3

,45,

681

21,

739

17,

919

95,

102

98,

868

7,1

88

7,6

71

17,

262

4,3

67

5,8

2,11

2 3

7,37

6 4

0,28

8 1

,15,

738

1,4

3,15

6

Add

: Fun

d re

venu

e ac

coun

t at

the

begi

nnin

g of

the

perio

d 4

,41,

300

8,4

4,85

6 1

,13,

382

84,

695

3,3

7,62

3 2

,12,

318

6,9

37

17,

242

12,

786

4,2

48

4,7

1,49

1 2

5,07

0 3

2,78

4 6

8,92

9 2

6,63

1

Fund

rev

enue

acc

ount

at

the

end

of th

e P

erio

d 6

,25,

949

11,

90,5

37

1,3

5,12

1 1

,02,

614

4,3

2,72

5 3

,11,

186

14,

125

24,

913

30,

048

8,6

15

10,

53,6

03

62,

446

73,

072

1,8

4,66

7 1

,69,

787

* N

et c

hang

e in

mar

ked

to m

arke

t val

ue o

f inv

estm

ents

In

stru

ctio

ns: A

ny e

xpen

se w

hich

is 1

% o

f the

tota

l exp

ense

s in

curr

ed s

houl

d be

dis

clos

ed a

s a

sepa

rate

line

item

.


An

nex

ure

4B

- F

inan

cial

Sta

tem

ents

of

Pen

sio

n L

inke

d B

usi

nes

s

Fo

rm A

- R

A (

UL

) (C

on

tin

ued

)

Nam

e o

f th

e In

sure

r: T

ATA

AIA

LIF

E IN

SU

RA

NC

E C

OM

PAN

Y L

IMIT

ED

Reg

istr

atio

n N

o 1

10

Dat

e o

f R

egis

trat

ion

wit

h IR

DA

: Fe

bru

ary

12, 2

001

Fun

d R

even

ue

Acc

ou

nt

for

the

year

en

ded

31

Mar

ch, 2

015

(` ‘0

00)

Part

icul

ars

Sche

dule

Ape

x Pe

nsio

n In

vest

men

t Fu

nd

Ape

x Pe

nsio

n 10

In

vest

men

t Fu

nd

Ape

x Pe

nsio

n 15

In

vest

men

t Fu

nd

Ape

x Pe

nsio

n 20

In

vest

men

t Fu

nd

Ape

x Pe

nsio

n R

etur

n Lo

ck-

in F

und

Ape

x Pe

nsio

n 10

R

etur

n Lo

ck-

in F

und

Ape

x Pe

nsio

n 15

R

etur

n Lo

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in F

und

Ape

x Pe

nsio

n 20

R

etur

n Lo

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in F

und

Ape

x Pe

nsio

n R

etur

n Lo

ck-

in F

und

II

Ape

x Pe

nsio

n 10

R

etur

n Lo

ck-

in F

und

II

Ape

x Pe

nsio

n 15

R

etur

n Lo

ck-

in F

und

II

Ape

x Pe

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n 20

R

etur

n Lo

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in F

und

II

Tot

al

Inco

me

fro

m in

vest

men

ts

Inte

rest

inco

me

-

4

117

1

2 1

,016

5

0,15

2 9

,301

1

,182

3

,029

9

,971

1

,246

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25

4,3

1,19

6

Div

iden

d in

com

e -

-

-

-

2

05

10,

717

3,3

94

563

6

66

2,1

56

418

1

01

64,

686

Profi

t/los

s on

sal

e of

in

vest

men

t -

-

-

-

2

,978

1

,35,

833

21,

961

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29

7,4

79

18,

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1,3

05

187

1

2,53

,691

Profi

t/los

s on

inte

r fun

d tra

nsfe

r/ sa

le o

f inv

estm

ent

-

-

-

-

-

-

-

-

-

-

-

-

-

Mis

cella

neou

s In

com

e -

-

-

-

-

-

-

-

-

-

-

-

-

Unr

ealis

ed G

ain/

loss

* -

-

-

-

1

,581

1

,00,

385

49,

517

5,0

58

6,9

71

28,

818

7,6

24

1,8

89

6,3

9,64

7

App

ropr

iatio

n In

com

e/

Exap

prop

riatio

n Lo

ss (

net)

-

-

-

-

-

-

-

-

-

-

-

-

-

Tota

l (A

) -

4

1

17

12

5,7

80

2,9

7,08

7 8

4,17

3 1

4,13

2 1

8,14

5 5

9,58

3 1

0,59

3 2

,402

2

3,89

,220

Fund

man

agem

ent

expe

nses

-

1

1

6 3

3

20

15,

998

4,3

48

663

9

88

3,3

46

575

1

27

93,

618

Fund

adm

inis

tratio

n ex

pens

es

7

53

19

(1)

69

1,3

09

284

2

1 2

52

323

3

5 1

4 2

6,63

6

Oth

er c

harg

es:

F-5

2

(9

) 1

2 1

3

67

14,

844

2,7

99

550

1

,108

1

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3

52

(14)

1,0

8,26

7

Tota

l (B

) 9

4

5 4

7 3

7

56

32,

151

7,4

31

1,2

34

2,3

48

5,3

32

962

1

27

2,2

8,52

1

Net

Inco

me

for

the

year

(A

-B)

(9)

(41)

70

9

5,0

24

2,6

4,93

6 7

6,74

2 1

2,89

8 1

5,79

7 5

4,25

1 9

,631

2

,275

2

1,60

,699

Add

: Fun

d re

venu

e ac

coun

t at

the

begi

nnin

g of

the

perio

d (5

68)

(15,

235)

(4,6

92)

(1,0

73)

3,2

52

65,

899

(6,7

83)

(121

) 1

,458

4

,521

(7

,480

) (6

84)

27,

38,7

86

Fund

rev

enue

acc

ount

at

the

end

of th

e P

erio

d (5

77)

(15,

276)

(4,6

22)

(1,0

64)

8,2

76

3,3

0,83

5 6

9,95

9 1

2,77

7 1

7,25

5 5

8,77

2 2

,151

1

,591

4

8,99

,485

* N

et c

hang

e in

mar

ked

to m

arke

t val

ue o

f inv

estm

ents


An

nex

ure

4B

- F

inan

cial

Sta

tem

ents

of

Pen

sio

n L

inke

d B

usi

nes

sS

CH

ED

UL

E to

Fu

nd

Bal

ance

sh

eet

as a

t M

arch

31

, 201

5

Nam

e o

f th

e In

sure

r: T

ATA

AIA

LIF

E IN

SU

RA

NC

E C

OM

PAN

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IMIT

ED

Reg

istr

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o 1

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of

Reg

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ith

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A:

Feb

ruar

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, 200

1

SC

HE

DU

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: F-

1PO

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Part

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Equ

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Inco

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L

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Sho

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Bon

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Bal

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Max

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Cap

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Pens

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9,19

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Add

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s du

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the

Perio

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1,9

2,87

3 3

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289

1

8,49

6 6

1,93

4 1

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2

2,82

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1,0

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4,31

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Ded

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* (3

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9,64

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(2,8

0,42

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9,92

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5,30

5) (1

3,50

5) (8

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616)

(99,

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2,41

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144)

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1,5

3,88

1 1

2,24

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1

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338

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98,

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3,0

3,51

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2 (2

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6,71

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3 8

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1,7

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Tot

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2

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1,67

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A

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Ded

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180)

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81)

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2,68

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3,18

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4,81

1) (8

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) (1

0,29

6) (2

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10)

(35,

12,0

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Clo

sing

bal

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1,5

8,38

2 5

77

15,

401

5,2

06

1,7

42

18,

136

9,4

6,93

4 2

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28,

457

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555

2,3

4,83

2 5

5,74

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1,74

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* A

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ons

repr

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nits

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d de

duct

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repr

esen

t uni

t can

cella

tions


An

nex

ure

4B

- F

inan

cial

Sta

tem

ents

of

Pen

sio

n L

inke

d B

usi

nes

s S

CH

ED

UL

E to

Fu

nd

Bal

ance

sh

eet

as a

t M

arch

31

, 201

5

Nam

e o

f th

e In

sure

r: T

ATA

AIA

LIF

E IN

SU

RA

NC

E C

OM

PAN

Y L

IMIT

ED

R

egis

trat

ion

No

110

D

ate

of

Reg

istr

atio

n w

ith

IRD

A:

Feb

ruar

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, 200

1

(` ‘0

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Part

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Sch

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- 2

Equ

ity

Inco

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L

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Sho

rt

term

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ond

Fund

B

alan

ced

Fund

G

row

th

Fund

M

axim

a Fu

nd F

utur

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al

Pens

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F

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ap

Gua

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Fut

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Equi

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Pens

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Fut

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Gro

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Pe

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Pens

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Fut

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Ap

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Inve

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Gov

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1

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Corporate Identity No. U66010MH2000PLC128403

Registered Office: 14th Floor, Tower- A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai – 400013

Tel. No. 022 66498000

E-mail address: [email protected] Website:www.tataaia.com

ATTENDANCE SLIPRegistered Folio/DP ID and Client ID

Name and address of the shareholder(s)

Joint Holder 1

Joint Holder 2

I/ We hereby record my/ our presence at the ___________________ Annual General Meeting of the ___________________ Company at _____________________________________, on __________, the ___________ at ______ p.m.

_______________ _______________ _______________ Member’s Folio/ DP ID-Client ID No. Member’s/ Proxy’s name in Block Letters Member’s/Proxy’s Signature

NOTE:1. Please complete the Folio/ DP ID-Client ID No. and name of the Member/ Proxy, sign this Attendance Slip and hand it over, duly signed, at the entrance of the Meeting Hall.2. Shareholder/ Proxy holder desiring to attend the meeting should bring his/her copy of Annual Report for reference at the meeting.


Corporate Identity No. U66010MH2000PLC128403

Registered Office: 14th Floor, Tower- A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai – 400013

Tel. No. 022 66498000

E-mail address: [email protected] Website:www.tataaia.com


PROXY FORM

Name of the member(s):Registered Address:E-mail Id:Folio No./ DP ID-Client ID No.:

I/ We, being the member(s) of .................... shares of the above named Company, hereby appoint:

1. Name: ………..…………………….….….…….…..…..…..…..…..…..…..…..…..…..…..…..…..…..…..….

Address: ………..…………………….….….…….….…..…..…..…..…..…..…..…..…..…..…..…..…..…..…..

E-mail Id: ………..…………………….….….…….….…..…..…..…..…..…..…..…..…..…..…..…..…..…..….

Signature: ……..…………………….….….…….….…..…..…..…..…..…..…..…..…..…..…..…..…..…..…...

or failing him;

2. Name: ………..…………………….….….…….…..…..…..…..…..…..…..…..…..…..…..…..…..…..…..….

Address: ………..…………………….….….…….….…..…..…..…..…..…..…..…..…..…..…..…..…..…..…..

E-mail Id: ………..…………………….….….…….….…..…..…..…..…..…..…..…..…..…..…..…..…..…..….

Signature: ……..…………………….….….…….….…..…..…..…..…..…..…..…..…..…..…..…..…..…..…...

or failing him;

(3) Name: ………..…………………….….….…….…..…..…..…..…..…..…..…..…..…..…..…..…..…..…..….

Address: ………..…………………….….….…….….…..…..…..…..…..…..…..…..…..…..…..…..…..…..…..

E-mail Id: ………..…………………….….….…….….…..…..…..…..…..…..…..…..…..…..…..…..…..…..….

Signature: ……..…………………….….….…….….…..…..…..…..…..…..…..…..…..…..…..…..…..…..…...

or failing him;

as my/ our Proxy to attend and vote (on a poll) for me/ us and on my/ our behalf at the __________________________ _______________ Annual General Meeting of the Company, to be held on __, ________, 2016 at ___ p.m. and at any adjournment thereof in respect of such resolutions as are indicated below:

Resolution No. Resolution Optional*

For* Against

1.

Signed this …………………………………… day of ……………..…………………………………… 2016

Signature of Shareholder: .......................................

Signature of Proxy holder: .......................................

NOTE: 1. This form of Proxy, in order to be effective, should be duly completed and deposited at the Registered Office of the Company, at 14th Floor, Tower- A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, not less than FORTY-EIGHT HOURS (48) before

the commencement of the Meeting.

2. For the Resolutions, Explanatory Statement and Notes, please refer to the Notice of the Extra-Ordinary General Meeting.

3. It is optional to put a ‘√’ in the appropriate column against the Resolutions indicated in the Box. If you leave the ‘For’ or ‘Against’ column blank against any or all Resolutions, your Proxy will be entitled to vote in the manner as he/ she thinks appropriate.

Affix RevenueStamp


an

nu

al

re

po

rt

20

16

Tata AIA Life Insurance Company Ltd. (IRDA of India Regn. No. 110 • CIN: U66010MH2000PLC128403).Registered & Corporate Office Address: 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai 400013. Visit us at www.tataaia.com or call our helpline number 1860 266 9966 (local

charges apply) or email us at [email protected] or SMS “LIFE” to 58888.

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Annual Report | 2015 -16 - TATA AIA LIFEtataaia.com/pdf/public-disclosures/corporate-disclosure/Annual... · companies in closing the Protection Gap in the country. ... Sixteenth