III IC-46 case studies
III IC-46 · Put your knowledge to work in context.
IC-46, titled General Insurance Accounts Preparation and Regulation of Investment, is a professional examination subject offered through the Insurance Institute of India's examination stream, and it appears in the Institute's study material list in both English and Hindi. It is aimed at candidates working in or moving toward finance, accounts, and investment functions inside general insurance companies - people who need to read and prepare insurer financial statements and who must understand how insurance funds may be invested and regulated. The III IC-46 case studies are 5 cases and about 3,171 words.
1Multi-Year Industrial Policy: Written Premium, UPR and Premium Deficiency
Vayu General Insurance writes a 24-month industrial all-risks policy for a textile plant covering 1 October 2024 to 30 September 2026. Gross premium is ₹48,00,000, paid in full on 5 October 2024.
651 words, about 3 min2Large Product-Liability Claim: Case Reserve, IBNR, Reinsurance Recovery and Salvage
Sagar Insurance is lead insurer with a 30% share in a co-insurance product liability programme for a pharmaceutical manufacturer. A contaminated batch has produced 240 claimants.
614 words, about 3 min3Investment Classification and Impairment in a General Insurer's Portfolio
Nila General Insurance has policyholders' funds of ₹500 crore. The portfolio includes ₹180 crore of central government securities, ₹40 crore of a perpetual AT1 bond issued by a scheduled commercial bank (8.5% coupon, first call 2030), ₹60 crore of AA-rated corporate bonds, ₹25 crore of equity in a group company, ₹15 crore in a fixed deposit with a cooperative bank rated A-, ₹30 crore in an unrated infrastructure SPV and ₹10 crore in a venture capital fund.
684 words, about 3 min4Premium Received in Advance, Open-Policy Declarations and Brokerage Accrual
Kaveri General Insurance receives ₹3.2 crore on 28 March 2025 for a group personal accident policy covering 1 April 2025 to 31 March 2026; the policy is issued on 2 April 2025. It also receives ₹80 lakh on 30 March 2025 under a marine cargo open policy that operates on declarations; one shipment covered by a declaration sailed on 29 March 2025.
611 words, about 3 min5Proposed Investments in Subsidiary, Real Estate and Tier 2 Debt: Limits and Solvency
Tara General Insurance has shareholders' funds of ₹120 crore and policyholders' funds of ₹380 crore. It proposes to invest ₹50 crore in a subsidiary that provides health claims processing, ₹35 crore in a commercial real estate project, ₹80 crore in an infrastructure debt fund and ₹20 crore in Tier 2 subordinated debt issued by another insurer.
611 words, about 3 min