The General Insurance Business (Nationalisation) Act, 1972
Administered Ministry: Ministry of Finance / Department of Financial Services
Schedule
First Schedule THE SCHEDULE
THE SCHEDULE
(See section 11)
Amounts to be paid
PART A
Serial
Number
Name of Indian Insurance company Amount to
be paid
(1) (2) (3)
Rs.
1. All India General Insurance
Company Ltd.
. . . 10,00,000
2. Anand Insurance Company Ltd.
Preference
Shares
3,50,000
Equity Shares 2,00,000
3. Bhabha Marine Insurance Company
Ltd.
. . . 54,448
4. Bharat General Reinsurance Ltd.
Preference
Shares
8,18,000
Ordinary Shares 13,49,844
5. British India General Insurance
Company Ltd.
. . . 37,50,000
6. Calcutta Insurance Limited
. . . 7,49,442
7. Central Mercantile Assurance
Company Ltd.
. . . 3,38,499
8. Clive Insurance Company Ltd.
. . . 26,12,600
9. Commonwealth Assurance
Company Ltd.
. . . 1,000
10. Concord of India Insurance
Company Ltd.
. . . 39,77,100
11. Devkaran Nanjee Insurance
Company Ltd.
. . . 16,80,000
12. General Assurance Society Ltd.
. . . 8,06,000
13. Hercules Insurance Company Ltd.
. . . 87,48,000
14. Hindusthan General Insurance
Society Ltd.
. . . 15,52,500
15. Hindusthan Ideal Insurance
Company Ltd.
. . . 25,20,605
16. Howrah Insurance Company Ltd.
. . . 975
17. Hukumchand Insurance Company
Ltd.
. . . 10,00,000
18. India Reinsurance Corporation Ltd.
. . . 2,05,02,200
19. Indian Guarantee & General
Insurance Company Ltd.
. . . 1,95,69,760
Serial
Number
Name of Indian Insurance company Amount to
be paid
(1) (2) (3)
Rs.
20. Indian Mercantile Insurance
Company Ltd.
. . . 50,33,195
21. Indian Merchants’ Marine
Insurance Company Ltd.
. . . 2,28,753
22. Indian Ocean Insurance Company
Ltd.
. . . 1,00,000
23. Indian Trade & General Insurance
Company Ltd.
. . . 61,21,200
24. Jalanath Insurance Ltd. . . . 10,42,955
25. Jupiter General Insurance Company
Ltd.
. . . 26,24,445
26. Kalyan Marine Insurance Company
Ltd.
. . . 1,79,880
27. Liberty Insurance Company Ltd. . . . 1,000
28. Madras Motor and General
Insurance Company Ltd.
. . . 1,77,69,600
29. Madura Insurance Company Ltd. Preference Shares 700
Ordinary Shares 15,83,900
Deferred Shares 12,500
30. Marine & General Insurance
Company Ltd.
. . . 8,95,300
31. Mother India Fire & General
Insurance Company Ltd.
. . . 7,44,345
32. Motor Owners’ Insurance Company
Ltd.
. . . 1,65,575
33. Naranji Bhanabhai & Company
Ltd.
. . . 49,200
34. Narhari Marine Insurance Company
Ltd.
. . . 2,36,400
35. National Insurance Company Ltd. . . 60,58,150
36. Neptune Assurance Company Ltd. . . . 10,00,000
37. New Great Insurance Company of
India Ltd.
. . . 43,50,000
38. New India Assurance Company
Limited.
. . . 8,20,37,678
39. New Merchants Insurance
Company Ltd.
. . 68,912
Serial
Number
Name of Indian Insurance company Amount to
be paid
(1) (2) (3)
Rs.
40. New Premier Insurance Company
Ltd.
. . . 1,21,110
41. Northern India General Insurance
Company Ltd.
. . . 998
42. Oriental Fire & General Insurance
Company Ltd.
. . . 2,43,98,000
43. Pandyan Insurance Company Ltd. . . . 90,00,000
44. Pioneer Fire & General Insurance
Company Ltd.
. . . 11,82,610
45. Porbandar Insurance Company Ltd. . . . 59,194
46. Prachi Insurance Company Ltd. . . . 21,375
47 Ruby General Insurance Company
Ltd.
. . . 1,38,74,000
48. Shree Mahasagar Vima Company
Ltd.
. . . 1,18,252
49. South Indian Insurance Company
Ltd.
. . . 60,63,000
50. Sterling General Insurance
Company Ltd.
Preference Shares 23,000
Ordinary Shares 16,08,139
51 Triton Insurance Company Ltd. . . . 47,07,180
52. United India Fire & General
Insurance Company Ltd.
. . . 21,39,991
53. Universal Fire & General Insurance
Company Ltd.
. . . 24,71,618
54. Vanguard Insurance Company Ltd. . . . 896
55. Vulcan Insurance Company Ltd. . . . 32,49,617
PART B
Serial
Number
Name of insurer Amount to
be paid
(1) (2) (3)
Rs.
1. Co-operative Fire & General
Insurance Society Ltd.
. . . 18,69,000
2. Co-operative General Insurance
Society Ltd.
. . . 5,93,000
Serial
Number
Name of insurer Amount to
be paid
(1) (2) (3)
Rs.
3. Indian Mutual General Insurance
Society Ltd.
. . . 1,40,000
4. Life Insurance Corporation of India . . . 2,81,34,000
5. Millowners’ Mutual Insurance
Association Ltd.
. . . 12,89,000
6. Orissa Co-operative Insurance
Society Ltd.
. . . 2,83,000
7. Reinsurance Association of India
(International) Ltd.
. . . 13,000
8. Union Co-operative Insurance
Society Ltd.
. . . 37,60,000
9. Alliance Assurance Company Ltd. . . . 36,65,000
10. American Insurance Company . . . 3,30,000
11. Atlas Assurance Company Ltd. . . 64,85,000
12. Baloise Insurance Company Ltd. . . . 22,67,000
13. British Aviation Insurance
Company Ltd.
. . . 1,000
14. Caledonian Insurance Company . . . 81,000
15. Century Insurance Company Ltd. . . . 6,04,000
16. Commercial Union Assurance
Company Ltd.
. . . 85,20,000
17. Eagle Star Insurance Company Ltd. . . . 37,12,000
18. Gerling Global Reinsurance
Company Ltd.
. . . 1,000
19. Great American Insurance
Company
. . . 3,81,000
20. Guardian Assurance Company Ltd. . . . 19,98,000
21. Hanover Insurance Company . . . 42,13,000
22. Hartford Fire Insurance Company . . . 2,96,000
23. Home Insurance Company . . . 3,73,000
24. Legal & General Assurance Society
Ltd.
. . . 5,28,000
25. Liverpool and London and Globe
Insurance Company Ltd.
. . . 8,23,000
26. London Assurance . . . 12,30,000
27. London Guarantee & Accident
Company Ltd.
. . . 40,000
Serial
Number
Name of insurer Amount to
be paid
(1) (2) (3)
Rs.
28. London & Lancashire Insurance
Company Ltd.
. . . 47,70,000
29. L’Union Fire, Accident and General
Insurance Company Ltd.
. . . 1,000
30. National Employers’ Mutual
General Insurance Association Ltd.
. . . 3,17,003
31. National Insurance Company of
New Zealand Ltd.
. . . 1,000
32. New Hampshire Insurance
company
. . . 19,08,000
33. New Zealand Insurance Company
Ltd.
. . . 10,84,000
34. Norwich Union Fire Insurance
Society Ltd.
. . . 31,43,000
35. Phoenix Assurance Company Ltd. . . . 2,63,000
36. Provincial Insurance Company Ltd. . . . 1,000
37. Queensland Insurance Company
Ltd.
. . . 10,31,000
38. Royal Exchange Assurance . . . 49,62,000
39. Royal Insurance Company Ltd. . . . 73,28,000
40. Scottish Union & National
Insurance Company
. . . 43,15,000
41. Skandia Insurance Company Ltd. . . . 1,000
42. South British Insurance Company
Ltd.
. . . 18,42,000
43. Sun Insurance Office Ltd. . . . 25,86,000
44. Switzerland General Insurance
Company Ltd.
. . . 6,35,000
45. Threadneedle Insurance Company
Ltd.
. . . 1,000
46. Tokio Marine & Fire Insurance
Company Ltd.
. . . 92,000
47. Union Insurance Society of Canton
Ltd.
. . . 5,89,000
48. United Scottish Insurance Company
Ltd.
. . . 83,000
49. Welfare Insurance Company Ltd. . . . 1,000
50. Western Assurance Company . . . 13,92,000
51. Yorkshire Insurance Company Ltd. . . . 16,31,000
52. Zurich Insurance Company Ltd. . . . 1,000
THE SCHEDULE
(See section 11)
Amounts to be paid
PART A
Serial
Number
Name of Indian insurance company Amount to
be paid
(1) (2) (3)
Rs.
1. All India General Insurance
Company Ltd.
. . . 10,00,000
2. Anand Insurance Company Ltd.
Preference
Shares
3,50,000
Equity Shares 2,00,000
3. Bhabha Marine Insurance Company
Ltd.
. . . 54,448
4. Bharat General Reinsurance Ltd.
Preference
Shares
8,18,000
Ordinary Shares 13,49,844
5. British India General Insurance
Company Ltd.
. . . 37,50,000
6. Calcutta Insurance Company
Limited
. . . 7,49,442
7. Central Mercantile Assurance
Company Ltd.
. . . 3,38,499
8. Clive Insurance Company Ltd.
. . . 26,12,600
9. Commonwealth Assurance
Company Ltd.
. . . 1,000
10. Concord of India Insurance
Company Ltd.
. . . 39,77,100
11. Devkaran Nanjee Insurance
Company Ltd.
. . . 16,80,000
12. General Assurance Society Ltd.
. . . 8,06,000
13. Hercules Insurance Company Ltd.
. . . 87,48,000
14. Hindusthan General Insurance
Society Ltd.
. . . 15,52,500
15. Hindusthan Ideal Insurance
Company Ltd.
. . . 25,20,605
16. Howrah Insurance Company Ltd.
. . . 975
17. Hukumchand Insurance Company
Ltd.
. . . 10,00,000
18. India Reinsurance Corporation Ltd.
. . . 2,05,02,200
19. Indian Guarantee & General
Insurance Company Ltd.
. . . 1,95,69,760
Serial
Number
Name of Indian insurance company Amount to
be paid
(1) (2) (3)
Rs.
20. Indian Mercantile Insurance
Company Ltd.
. . . 50,33,195
21. Indian Merchants’ Marine
Insurance Company Ltd.
. . . 2,28,753
22. Indian Ocean Insurance Company
Ltd.
. . . 1,00,000
23. Indian Trade & General Insurance
Company Ltd.
. . . 61,21,200
24. Jalanath Insurance Ltd. . . . 10,42,955
25. Jupiter General Insurance Company
Ltd.
. . . 26,24,445
26. Kalyan Marine Insurance Company
Ltd.
. . . 1,79,880
27. Liberty Insurance Company Ltd. . . . 1,000
28. Madras Motor and General
Insurance Company Ltd.
. . . 1,77,69,600
29. Madura Insurance Company Ltd. Preference Shares 700
Ordinary Shares 15,83,900
Deferred Shares 12,500
30. Marine & General Insurance
Company Ltd.
. . . 8,95,300
31. Mother India Fire & General
Insurance Company Ltd.
. . . 7,44,345
32. Motor Owners’ Insurance Company
Ltd.
. . . 1,65,575
33. Naranji Bhanabhai & Company
Ltd.
. . . 49,200
34. Narhari Marine Insurance Company
Ltd.
. . . 2,36,400
35. National Insurance Company Ltd. . . 60,58,150
36. Neptune Assurance Company Ltd. . . . 10,00,000
37. New Great Insurance Company of
India Ltd.
. . . 43,50,000
38. New India Assurance Company
Limited.
. . . 8,20,37,678
39. New Merchants Insurance
Company Ltd.
. . 68,918.
Serial
Number
Name of Indian insurance company Amount to
be paid
(1) (2) (3)
Rs.
40. New Premier Insurance Company
Ltd.
. . . 1,21,110
41. Northern India General Insurance
Company Ltd.
. . . 998
42. Oriental Fire & General Insurance
Company Ltd.
. . . 2,43,98,000
43. Pandyan Insurance Company Ltd. . . . 90,00,000
44. Pioneer Fire & General Insurance
Company Ltd.
. . . 11,82,610
45. Porbandar Insurance Company Ltd. . . . 59,194
46. Prachi Insurance Company Ltd. . . . 21,375
47 Ruby General Insurance Company
Ltd.
. . . 1,38,74,000
48. Shree Mahasagar Vima Company
Ltd.
. . . 1,18,252
49. South Indian Insurance Company
Ltd.
. . . 60,63,000
50. Sterling General Insurance
Company Ltd.
Preference Shares 23,000
Ordinary Shares 16,08,139
51 Triton Insurance Company Ltd. . . . 47,07,180
52. United India Fire & General
Insurance Company Ltd.
. . . 21,39,991
53. Universal Fire & General Insurance
Company Ltd.
. . . 24,71,618
54. Vanguard Insurance Company Ltd. . . . 896
55. Vulcan Insurance Company Ltd. . . . 32,49,617
PART B
Serial
Number
Name of insurer Amount to
be paid
(1) (2) (3)
Rs.
1. Co-operative Fire & General
Insurance Society Ltd.
. . . 18,69,000
2. Co-operative General Insurance
Society Ltd.
. . . 5,93,000
Serial
Number
Name of insurer Amount to
be paid
(1) (2) (3)
Rs.
3. Indian Mutual General Insurance
Society Ltd.
. . . 1,40,000
4. Life Insurance Corporation of India . . . 2,81,34,000
5. Millowners’ Mutual Insurance
Association Ltd.
. . . 12,89,000
6. Orissa Co-operative Insurance
Society Ltd.
. . . 2,83,000
7. Reinsurance Association of India
(International) Ltd.
. . . 13,000
8. Union Co-operative Insurance
Society Ltd.
. . . 37,60,000
9. Alliance Assurance Company Ltd. . . . 36,65,000
10. American Insurance Company . . . 3,30,000
11. Atlas Assurance Company Ltd. . . 64,85,000
12. Baloise Insurance Company Ltd. . . . 22,67,000
13. British Aviation Insurance
Company Ltd.
. . . 1,000
14. Caledonian Insurance Company . . . 81,000
15. Century Insurance Company Ltd. . . . 6,04,000
16. Commercial Union Assurance
Company Ltd.
. . . 85,20,000
17. Eagle Star Insurance Company Ltd. . . . 37,12,000
18. Gerling Global Reinsurance
Company Ltd.
. . . 1,000
19. Great American Insurance
Company
. . . 3,81,000
20. Guardian Assurance Company Ltd. . . . 19,98,000
21. Hanover Insurance Company . . . 42,13,00
22. Hartford Fire Insurance Company . . . 2,96,000
23. Home Insurance Company . . . 3,73,000
24. Legal & General Assurance Society
Ltd.
. . . 5,28,000
25. Liverpool and London and Globe
Insurance Company Ltd.
. . . 8,23,000
26. London Assurance . . . 12,30,000
27. London Guarantee & Accident
Company Ltd.
. . . 40,000
Serial
Number
Name of insurer Amount to
be paid
(1) (2) (3)
Rs.
28. London & Lancashire Insurance
Company Ltd.
. . . 47,70,000
29. L’Union Fire, Accident and General
Insurance Company Ltd.
. . . 1,000
30. National Employers’ Mutual
General Insurance Association Ltd.
. . . 3,17,003
31. National Insurance Company of
New Zealand Ltd.
. . . 1,000
32. New Hampshire Insurance
Company
. . . 19,08,000
33. New Zealand Insurance Company
Ltd.
. . . 10,84,000
34. Norwich Union Fire Insurance
Society Ltd.
. . . 31,43,000
35. Phoenix Assurance Company Ltd. . . . 2,63,000
36. Provincial Insurance Company Ltd. . . . 1,000
37. Queensland Insurance Company
Ltd.
. . . 10,31,000
38. Royal Exchange Assurance . . . 49,62,000
39. Royal Insurance Company Ltd. . . . 73,28,000
40. Scottish Union & National
Insurance Company
. . . 43,15,000
41. Skandia Insurance Company Ltd. . . . 1,000
42. South British Insurance Company
Ltd.
. . . 18,42,000
43. Sun Insurance Office Ltd. . . . 25,86,000
44. Switzerland General Insurance
Company Ltd.
. . . 6,35,000
45. Threadneedle Insurance Company
Ltd.
. . . 1,000
46. Tokio Marine & Fire Insurance
Company Ltd.
. . . 92,000
47. Union Insurance Society of Canton
Ltd.
. . . 5,89,000
48. United Scottish Insurance Company
Ltd.
. . . 83,000
49. Welfare Insurance Company Ltd. . . . 1,000
50. Western Assurance Company . . . 13,92,000
51. Yorkshire Insurance Company Ltd. . . . 16,31,000
52. Zurich Insurance Company Ltd. . . . 1,000