(1) The Company has contingent liability of ^ 139,848 lakhs (previous year: ^ 139,848 lakhs) on account of Income Tax matters, the appeals of which are pending before the appropriate Authorities.

This excludes,

a) Assessment Years 2006-07 in respect of which the Company has received favorable appellate order, which are pending for effect to be given by the Assessing Authority.

b) Assessment Years 2002-03, 2003-04, 2007-08, 2009-10, 2010-11, for which the Company has received intimation from the Income Tax Department, for appeal filed with High Court/ITAT, against favorable Appellate Orders.

(2) Includes disputed refund / demand of ^ 346,595 lakhs (previous year: ^ 376,006 lakhs) from Service Tax Authorities / Goods & Service Tax Authorities / Jammu and Kashmir Sales Tax, the appeals of which are pending / in the process of being filed before the appropriate Authorities. Further, ^ 53,567 lakhs (previous year: ^ 6,251 lakhs) has been paid at the time of filing CESTAT/Commissioner Appeal as per the provisions of the Finance Act, 1994/ GST Act/Income Tax Act,1961.

(4) During the year, the Company has received favorable Orders from the Customs, Excise & Service Tax Appellate Tribunal, Mumbai setting aside a demand of ^ 22,538 lakhs for FY 2008-09 to FY 2011-12, FY 2013-14 & FY 201415 where the dispute was regarding the formula for determining the proportionate reversal of CENVAT credit on exempted services under Rule 6(3A) of the Rules of 2004 ; and ^ 16,827 lakhs for FY 2011-12 where CENVAT credit on Service tax paid with respect to re-insurance services and on payments made to Authorized service station for repair of motor vehicles was denied.

(5) Excludes, payment of ^ 10,413 (previous year: ^10,413 lakhs) lakhs under protest pursuant to a GST proceeding on account of alleged ineligible input tax credit claim and applicability of GST on salvage adjusted on motor claims settled during the period from July 2017 to March 2022. The Company has been advised that its tax position on both the matters is legally valid and that the Company should not be liable to pay the said amounts. Accordingly, the Company has treated the amount paid as deposit under “Advances and Other Assets” as at March 31, 2026. Further, the Company will file refund for these amounts in due course.

5.1.2 The assets of the Company are free from all encumbrances except for fixed deposits of ^ 359 lakhs (previous year: ^ 73 lakhs) (Included in short term deposit account in Schedule - 11) for issuing bank guarantees and items included in Note 5.1.1 above.

5.1.3 Capital Commitments

Estimated amount of commitment pertaining to contracts remaining to be executed in respect of fixed assets (net of advances) is ^ 10,390 lakhs (previous year: ^ 6,957 lakhs).

5.1.4 Commitment in respect of loans is ^ NIL (previous year: ^ NIL) and investments is ^ 6,617 lakhs (previous year: ^ 8,921 lakhs).

Claims settled and remaining unpaid for more than six months is ^ Nil (previous year: ^ NIL).

Claims where the claim payment period exceeds four years:

As per circular F&A/CIR/017/May-04, the claims made in respect of contracts where claims payment period exceeds four years, are required to be recognised on actuarial basis. Accordingly, the Appointed Actuary has certified the fairness of the liability assessment, assuming ‘NIL’ discount rate.

In this context, the following claims have been valued on the basis of a contractually defined benefit amount payable in monthly installments.

5.1.8 (A) Investments

Value of contracts in relation to investments for:

• Purchases where deliveries are pending ^ 18,753 lakhs (previous year: ^ 435 lakhs); and

• Sales where payments are due is ^ Nil (previous year: ^ Nil).

All investments are made in accordance with Insurance Act, 1938 and Insurance Regulatory and Development Authority of India (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024 and are performing investments. The policy holders funds have not been directly or indirectly invested outside India.

(B) Allocation of investment income

Investment income which is directly identifiable is allocated on actuals to revenue account(s) and profit and loss account as applicable. Investment income which is not directly identifiable has been allocated on the basis of the ratio of average policyholder’s investments to average shareholder’s investments, average being the balance at the beginning of the year and at the end of the reporting period. Investment income on Investments of Unclaimed amount of policyholders is recognized as liability under Schedule 13 -Unclaimed Amount of Policyholders.

Further, investment income across segments within the revenue account(s) has also been allocated on the basis of average of unexpired Risk and claims outstanding net off outstanding premium of the respective segments.

5.1.9 Allocation of expenses

Allocation / apportionment of Operating Expenses is based on the Organisational Structure of the Company comprising of Business, Service and Support Groups. Business comprises of Corporate Business Group, Retail Business Group (including Sub Groups), Emerging Markets Business Group and Government Business Group. Expenses incurred by Business Groups are direct in nature. Service Group comprises of Customer Service Group which consists of Underwriting and Claims Group, created based on product segments. Support Group consists of Investments, Operations, Legal, Finance and Accounts, Reinsurance, Technology etc. Expenses incurred by Service and Support Groups are indirect in nature.

Operating expenses relating to insurance business are allocated to specific classes of business on the following basis:

• Direct expenses pertaining to Business Group that are directly identifiable to a product segment are allocated on actuals and other direct expenses are apportioned in proportion to the net written premium of the product within the Business Group. However, in case of retail business group, the other expenses of its sub group are apportioned based on the net written premium contributed by the respective sub group;

• Expenses pertaining to Service Group are apportioned directly to the product to which it pertains. In case of multiple products, expenses are apportioned in proportion to the net written premium of the multiple products;

• Expenses pertaining to Support Group and any other expenses, which are not directly allocable, are apportioned on the basis of net written premium on a Company level.

(B) Defined benefit plan Gratuity

The Company has a defined gratuity benefit plan payable to every employee on separation from employment. The Company makes the contribution to an approved gratuity fund which is maintained and managed by ICICI Prudential Life Insurance Company Limited.

Accrued Leave

The Company has a scheme for accrual of leave for employees. The leave policy permits the eligible employees to carry forward a portion of the unutilized accrued compensated absences, and utilize it in future service periods or receive cash compensation on separation. In addition, the unutilized accrued leave absences for the previous financial year would be paid annually to the employees, subject to a ceiling. The liability of accrued leave is determined on the basis of Actuarial Valuation carried out at the year end.

5.1.11 Remuneration to Managerial and Key Management Persons

Qualitative Disclosure

A. Information relating to the composition and mandate of the Nomination and Remuneration Committee.

Composition: In terms of provisions of the Act, SEBI LODR Listing Regulations and IRDAI CG Regulations, the Board Nomination and Remuneration Committee comprises of four members out of which three (3) are Non-executive, Independent Directors and one is Non-executive Non-Independent Director. The Board Nomination and Remuneration Committee is chaired by Mr. Ved Prakash Chaturvedi, Non-executive, Independent Director of the Company. The composition of the Board Nomination and Remuneration Committee is given below -

Mr. Ved Prakash Chaturvedi, Chairperson, Non-executive, Independent Director Mr. Antony Jacob, Non-executive, Independent Director Ms. Preeti Reddy, Non-executive, Independent Director Mr. Rakesh Jha, Non-executive, Non-Independent Director

Mandate of the Nomination and Remuneration Committee:

(1) To formulate the criteria for determining qualifications, positive attributes and independence of a director and recommend to the Board a policy, relating to the remuneration for the directors, Key Managerial personnel, Key Management Persons and other employees.

(2) To consider and approve employee stock option schemes and to administer and supervise the same.

(3) Approval of the policy for and quantum of bonus/long term performance pay (LTPP) payable to the employees.

(4) To identify persons who are qualified to become directors and who may be appointed in senior management in accordance with the criteria laid down, recommend to the Board their appointment and removal, and formulate criteria for evaluation of every director’s performance, evaluation of the performance of Board and its committees; performance evaluation of the Chairperson of the Board and review its implementation and compliance.

(5) To consider whether to extend or continue the term of appointment of the independent director, on the basis of the report of performance evaluation of independent directors.

(6) To approve the compensation programme and to ensure that remuneration to directors, key managerial personnel, key management persons and senior management involves a balance between fixed and incentive pay reflecting short and long term performance objectives appropriate to the working of the Company and its goals.

(7) To ensure that the proposed appointments/ re-appointments of key managerial personnel, key management persons or directors are in conformity with the Board approved policy.

(8) To recommend re-constitution of Board Constituted Committees to the Board.

(9) To devise a policy on diversity of the Board.

(10) To recommend to the Board all remuneration, in whatever form, payable to senior management and ensure that the remuneration for Key Management Persons/Key Managerial Personnel is as per the Policy on Appointment and Compensation of Employees and Framework for Remuneration approved by the Board.

(11) To ensure the succession planning for the Directors and the Key Management Persons/Key Managerial Personnel of the Company including its implementation.

(12) To carry out any other function, if any, as prescribed in the terms of reference of the Board Nomination and Remuneration Committee and any other terms of reference as may be decided by the Board and/or specified/provided under the Companies Act, 2013 or the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and the IRDAI (Corporate Governance for Insurers) Regulations, 2024 read with Master Circular on Corporate Governance for Insurers, 2024 and by any other regulatory authority.

B. Information relating to the design and structure of remuneration policy and the key features and

objective of remuneration policy.

1. Key features and objectives of remuneration policy

The Company has under the guidance of the Board and the Board Nomination and Remuneration Committee ("BNRC/ Committee"), followed compensation practices intended to drive meritocracy and fairness.

The Company strives to ensure internal and external equity that are consistent with emerging market trends, Its business model and affordability based on business performance sets the overarching boundary conditions. This approach has been incorporated in the Compensation Policy, the key elements of which are given below:

a. Effective governance of compensation:

The BNRC has oversight over compensation. The Committee defines Key Performance Indicators (KPIs) for Whole-time Directors and the organisational performance norms for bonus based on the financial and strategic plan approved by the Board. The KPIs include both quantitative and qualitative aspects. The BNRC assesses organisational performance as well as the individual performance for Whole-time Directors of the Company. Based on its assessment, it makes recommendations to the Board regarding compensation for the Whole-time Directors of the Company and employees, including senior management and key management personnel.

b. Alignment of compensation philosophy with prudent risk taking:

The Company seeks to achieve a prudent mix of fixed and variable pay, with a higher proportion of variable pay at senior levels and no guaranteed bonuses. Compensation is sought to be aligned to both financial and non-financial indicators of performance including aspects like risk management and compliance. In addition, the Company has an employee stock option scheme aimed at aligning compensation to long term performance through stock option grants that vest over a period of time to middle and senior management and Whole-time Directors. Compensation to staff in financial and risk control functions is independent of the business areas they oversee and depends on their performance assessment.

2. Whether the Remuneration Committee reviewed the firm's remuneration policy during the past year, and if so, an overview of any changes that were made.

The Company's Remuneration Policy was reviewed by the BNRC and the Board at their meeting held on April 15, 2025. The changes were made to align the Remuneration Policy with ICICI Group practices.

3. Discussion of how the Company ensures that risk and compliance employees are remunerated independently of the businesses they oversee.

The compensation of staff engaged in control functions like risk and compliance depends on their performance, which is based on achievement of the key results of their respective functions. Their goal sheets do not include any business targets.

C. Description of the ways in which current and future risks are taken into account in the

remuneration policy

1. Overview of the key risks that the Company takes into account while implementing remuneration measures.

The Board approves the Risk Management Framework of the Company. The business activities of the Company are undertaken within this framework to achieve the financial plan. The Risk Management Framework includes the Company's risk appetite, limits framework and policies and procedures governing various types of risk. KPIs of Whole-time Directors as well as employees, incorporate relevant risk management related aspects. For example, in addition to performance targets in areas such as growth and profits, performance indicators include aspects such as combined ratio and compliance. The BNRC takes into consideration all the above aspects while assessing organisational and individual performance and making compensation related recommendations to the Board.

2. Overview of the nature and type of key measures used to take account of these risks, including risk difficult to measure.

The annual performance targets and performance evaluation incorporate both qualitative and quantitative aspects including combined ratio, reserving and refinement/ improvement of the risk management framework.

3. Discussion of the ways in which these measures affect remuneration.

Every year, the financial plan/targets are formulated in conjunction with a Risk Management Framework with limit structures for various areas of risk/lines of business, within which the Company operates to achieve the financial plan. To ensure effective alignment of compensation with prudent risk taking, the BNRC takes into account adherence to the Risk Management Framework in conjunction with which the financial plan/targets have been formulated. KPIs of Whole-time Directors as well as employees, incorporate relevant risk management related aspects. For example, in addition to performance targets in areas such as growth and profits, performance indicators include aspects such as the combined ratio and reserving and regulatory compliance. The BNRC takes into consideration all the above aspects while assessing organisational and individual performance and making compensation related recommendations to the Board.

4. Discussion of how the nature and type of these measures have changed over the past year and reasons for the changes, as well as the impact of changes on remuneration.

The Company has introduced regulatory compliance as one of the strategic performance indicators in FY 2024 with a focus on maintaining a strong risk regulatory and compliance culture. The BNRC has taken into consideration these performance measure along with other measure while assessing organisational and individual performance and making compensation related recommendations to the Board.

D. Description of the ways in which the Company seeks to link performance during a performance

measurement period with levels of remuneration

1. Overview of main performance metrics for the Company, top level business lines and individuals.

The main performance metrics includes business growth, market share, profits, risk metrics (such as combined ratio), compliance with regulatory norms, refinement of risk management processes and customer service. The specific metrics and weightages for various metrics vary with the role and level of the individual.

2. Discussion of how amounts of individual remuneration are linked to the Company-wide and individual performance.

The BNRC takes into consideration all the above aspects while assessing organisational and individual performance and making compensation related recommendations to the Board regarding the level of performance bonus for employees and the performance assessment of Whole-time Directors. The performance assessment of individual employees is undertaken based on achievements vis-a-vis their goal sheets, which incorporate the various aspects/ metrics described earlier.

3. Discussion of the measures the Company will in general implement to adjust remuneration in the event that performance metrics are weak, including the Company's criteria for determining ‘weak' performance metrics.

The Company's Compensation Policy outlines the measures which the Company will implement in the event of a reasonable evidence of deterioration in financial performance. In case such an event occurs in the manner outlined in the policy, the BNRC may decide to apply malus/ clawback on none, part or all of the unvested deferred variable compensation.

Quantitative Disclosure

(A) The details of remuneration paid to MD & CEO, Whole time Directors' and other KMP as per guidelines issued by IRDAI (Remuneration of Key Managerial Persons of insurers) Guidelines, 2023 and the terms of appointment are as under:

Managerial remuneration in excess of ^ 400 lakhs for each Managerial personnel has been contributed to Revenue account (policyholders accounts) from profit and loss accounts (shareholders accounts).

(B) The details of remuneration paid to other MD & CEO and Whole time director as per guidelines issued by IRDAI (Remuneration of Key Managerial Persons of insurers) Guidelines, 2023 and as per the terms of appointment of Company for the year ended March 31, 2026 are as under:

5.1.12 (A) Share Capital

During the year ended, the Company has allotted 2,768,515 equity shares (previous year: 3,041,182 equity shares) under ESOS and ESUS raising ^ 31,644 lakhs (previous year: ^ 35,007 lakhs).

During the Year ended, the Company has not made any preferential allotment (previous year: ^ NIL).

(B) Share Application

As at March 31, 2026, the Company has ^ 81 lakhs share application money under ESOS and ESUS (previous year: ^ 25 lakhs) against which shares are yet to be allotted.

5.1.17 Employee Stock Option Scheme (ESOS) and Employee Stock Unit Scheme (“ESUS”)

A) Employee Stock Option Scheme (ESOS)

The Company instituted the ESOS Scheme pursuant to the resolutions passed by our Board and Shareholders on April 26, 2005 and July 22, 2005, respectively. The Company had granted Stock options to employees in compliance with the Securities and Exchange Board of India (Employee stock option scheme and employee stock purchase scheme) guidelines, 1999. Pursuant to the ESOS Scheme, no eligible employee could, in aggregate be granted in a financial year, options greater than 0.1% of the issued equity share capital of the Company and the aggregate of options granted to the eligible employees under the ESOS Scheme was capped at 8.98% of the issued capital of our Company as on the date of such grants. ESOS Scheme was further amended pursuant to the resolutions passed by the Board and Shareholders on June 9, 2017 and July 10, 2017, respectively, to approve the amendment in the ESOS Scheme for, inter alia, aligning it with the Securities and Exchange Board of India (Share Based Employee Benefits and sweat equity) Regulations, 2021. Further, the exercise price was finalized by the Board Nomination and Remuneration Committee in concurrence with the Board based on an independent valuer's report. During the year ended March 31, 2026, the Company has granted options under the ESOS scheme in compliance with Securities and Exchange Board of India (Share Based Employee Benefits and sweat equity) Regulations, 2021 and is set out below.

The estimated fair value is computed on the basis of Black-Scholes option for Grant (2025) issued during the year ended March 31, 2026. 2,726,996 options (previous year: 3,198,284) are vested during the year ended March 31, 2026 and ^ 31,664 lakhs (previous year: ^ 35,007 lakhs) was realised by exercise of options (including share application money pending allotment).

The company follows intrinsic value method and hence there was no charge in the Revenue Accounts and Profit and Loss Account for option granted.

The weighted average price of options exercised during the year ended March 31, 2026 is ^ 1,189.66 (previous year: ^ 1152.44.)

B. Employee Stock Unit Scheme-2023 (ESUS-23)

The Company instituted the ESUS-23 pursuant to the resolutions passed by our Board and Shareholders on April 18, 2023 and July 6, 2023, respectively. The Company had granted Stock units to employees in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits and sweat equity) Regulations, 2021. Pursuant to the ESUS-23, the maximum number of units granted to any eligible employee shall not exceed 20,000 units in any financial year and the aggregate of units granted to the eligible employees under the ESUS-23 was capped at 5,000,000 equity shares of face value of ^10 each. Further, the exercise price for units is ^ 10.

The estimated fair value is computed on the basis of Black-Scholes option model for ESUS-23 Units (2024) issued during the year ended March 31, 2026.

The Company follows an intrinsic value method and hence difference between the fair value as determined by the Board of Directors at the time of Grant and exercise price of ^ 10.00 is charged to the Revenue Accounts and Profit and Loss Account over the vesting period.

C. Had the Company followed the fair value method for valuing its options and units for the year ended, the charge to the Revenue Accounts and Profit and Loss Account would have been higher by ^ 6,437 lakhs (previous year ^ 7,781 lakhs) and profit after tax would have been lower by ^ 4,877 lakhs (previous year ^ 5,876 lakhs). Consequently, the Company’s basic and diluted earnings per share would have been ^ 54.76 (previous year ^ 49.55) and ^ 54.27 (previous year ^ 49.07) respectively.

5.2 Other disclosures5.2.1 Basis used by the Actuary for determining provision required for IBNR/IBNER

IBNR (including IBNER) liability as of Mar 31, 2026 for all lines of business has been estimated by the Appointed Actuary in compliance with the guidelines issued by IRDAI from time to time and the applicable provisions of the Guidance Note 21 issued by the Institute of Actuaries of India.

Pursuant to IRDAI Master Circular on Actuarial, Finance and Investment Functions of Insurers Regulation 2024 (IRDAI/ACTL/CIR/MISC/80/05/2024 dated May 17, 2024); claim reserves are determined as the aggregate amount of Outstanding Claim Reserve and Incurred but Not Reported (IBNR) claim reserve for 28 stipulated lines of business.

5.2.2 Provision for Free Look period

The free look reserves against the free look cancellations is the amount determined which is required over and above the existing technical reserve amounts. For the policies where risk has started and a loss has not occurred, no existing provision covers the residual balance arising out of the earned portion of the premium if the policy is cancelled and therefore, free look reserve is created. Provision for free look reserve is calculated separately for Health Benefit, Health Indemnity and PA segments. This provision is determined using 30-day cancellation rate over the 30 days exposure for the new policies booked. The provision for Free Look period ^ 2.47 Lakhs (previous period: ^ 5.11 Lakhs) is duly certified by the Appointed Actuary.

5.2.3 Contribution to Terrorism Pool

The Company in accordance with the requirements of IRDAI has participated in contributing to the Terrorism Pool. This pool is managed by the General Insurance Corporation of India (‘GIC’). Amounts collected as terrorism premium are ceded at 100% of the terrorism premium collected to the Terrorism Pool, subject to conditions and an overall limit of ^ 250,000 lakhs.

In accordance with the terms of the agreement, GIC retrocedes, to the Company, terrorism premium to the extent of the Company’s share in the risk, which is recorded as reinsurance accepted. Such reinsurance accepted is recorded based on intimation / confirmation received from GIC. Accordingly, reinsurance accepted, on account of the terrorism pool has been recorded only up to December, 2025 (previous period: December 31, 2024) as per the last confirmation received. The share of investment income for the twelve month ended March 31, 2026 (Previous period: March 31, 2025) includes income accounted on estimate basis for Q4 FY 2025-26 (Previous period Q4 FY 2024-25).

5.2.4 India Nuclear Insurance Pool

In view of the passage of the Civil Liability for Nuclear Damage Act, 2010, GIC Re as Indian Reinsurer initiated the formation of the India Nuclear Insurance Pool (INIP) along with other domestic non-life insurance companies by pooling the capacity to provide insurance covers for nuclear risks. INIP is an unregistered reinsurance arrangement among its members i.e. capacity providers without any legal entity. GIC Re and 11 other non-life insurance companies are Founder Members with their collective capacity of ^ 150,000 lakhs. GIC Re is also appointed as the Pool Manager of the INIP. The business underwritten by the INIP will be retroceded to all the Member Companies including GIC Re in proportion of their capacity collated. Out of the total capacity of ^ 150,000 lakhs of the INIP, the capacity provided by the Company is ^ 10,000 lakhs. The Company has recorded its share of the premium retrocession based on statement / information received up to June 30, 2025 (previous period: June 30, 2024) and investment income up to Sept 30, 2025 (previous period: Sept 30, 2024). The share of investment income for the twelve month ended March 31, 2026 (Previous period: March 31, 2025) has been recognized on an estimate basis.

5.2.5 Marine Cargo Pool

The Insurance Industry in India under the directive of Ministry of Finance and IRDAI, has pooled their net capacity to form a national marine cargo pool. The Pool, being managed by GIC Re, is for essential commodities from restrictive Territories. The coverage under the pool is on named peril basis and restrictive. The Pool came in effect from June 1, 2022. The Pool capacity is ^ 48,500 lakhs which has been committed by the Indian Insurance Industry which includes GIC Re, four PSUs and sixteen Private Sector Insurance Companies. The Company has committed a capacity of ^ 3,000 lakhs per incidence per year (6.18% share of the Pool).

The cessions to the pool would be 100% after the obligatory cession, in accordance with terms of the agreement. GIC retrocedes to the Company, premiums to the extent Company's share in risks which is recorded as reinsurance accepted. As on March 31, 2026, the Company has received statement for period ended Sept 30, 2025 and recorded the statement from the pool for its share of the premium retrocession.

5.2.6 Interest, Rent and Dividend income

Interest, Dividend & Rent income is net of interest expense of ^ NIL (previous year: ^ NIL) on account of REPO transactions.

5.2.7 Re-insurance accepted

The results of reinsurance accepted are accounted as per last available statement of accounts / confirmation from reinsurers.

5.2.8 Contribution to Hit and Run Compensation Account (erstwhile Solatium fund)

A Motor Vehicle Accident Fund (MVA Fund) has been created under Sec 164 B of the Motor Vehicle Act read with Central Motor Vehicles (Motor Vehicle Accident Fund) Rules, 2022 (‘MVAF Rules'). As per the MVAF Rules, the MVA fund comprises of three accounts namely; Account for insured Vehicle, Account for uninsured vehicle and Hit & Run Compensation Amount and is administered by a Trust established under the Rules.

A. Hit and Run Compensation Account

As per MVAF Rules, the Hit & Run Compensation Account shall be credited with (a) the current balance under Solatium Scheme, 1989 as on date of the commencement of these rules, and (b) such percentage of total third-party premium collected by insurance companies carrying business of motor insurance in India by the general insurance as specified by the trust.

During the financial year, Company has provided 0.2% of motor TP premium for FY 2025-26 amounting to ^ 1,180 lakhs (previous year ^ 544 lakhs) and provided and paid an additional 0.1% for FY 2024-25 of ^ 544 lakhs (previous period ^ 489 lakhs).

B. Account for Insured Vehicle

As on March 31, 2026 the Company has disclosed, under “Sundry advance and Deposit” in Schedule 12, ^ 4,430 lakhs towards Account for Insured Vehicle (previous year ^ 4,431 lakhs). The contribution has been made as per the MVAF Rules and advise from the trust. During the year, the Company received claims amounting to ^ 1 lakh (previous year: Nil) from the Trust in respect of its share, which were duly adjusted against the said balance.

5.2.9 Environment Relief Fund

During the Year ended, an amount of ^ 1,248 lakhs (previous year ^ 104 lakhs) was collected towards Environment Relief Fund for public liability policies and an amount of ^ 1,276 lakhs (previous year ^ 73 lakhs) has been transferred to “Central Pollution Control Board New Delhi, (earlier transferred to United India Insurance Company Limited) Environment Fund Account as per Notification of Environment Relief Fund (ERF) amendment scheme 2024 under the public liability Insurance Act, 1991 as amended. The balance amount of ^ 7 lakhs (previous year ^ 36 lakhs) has been disclosed under the head current liabilities in schedule 13.

5.2.10 Leases

I n respect of premises taken on operating lease, the lease agreements are generally mutually renewable / cancelable by the lessor / lessee.

5.2.12 Segmental reporting

For segment reporting for the year ended & as at March 31, 2026 refer Annexure 2(a) and for the year ended and March 31, 2025 respectively refer Annexure 2(b).

5.2.18 CSR Expenditure

During the Year ended March 31, 2026, the Company has incurred expenditure towards CSR activities which are as below;

(a) Gross amount required to be spent by the Company as per the clause 7.6 of Guidelines for Corporate Governance for Insurers in India, 2016, during the year was ^ 5,140 lakhs (previous year: ^ 4,014 lakhs).

(b) Amount approved by the Board to be spent during the year ^ 5,140 lakhs (previous year ^ 4,014)

(c) Amount spent during the year is ^ 5,167 lakhs (previous year: ^ 4,042 lakhs).

5.2.19 Disclosures pursuant to Rule 3(1) of the Companies (Accounts) Rules, 2014:

The Company has not advanced or loaned or invested (either from borrowed funds or share premium or any other sources or other kind of funds) to or in any other person or entity, including foreign entity (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

The Company has not received any funds from any person or entity, including foreign entity (“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

5.2.20 Outstanding Forward Exchange Contracts

As at March 31, 2026 there are ^ NIL (previous year: ^ NIL) outstanding forward exchange contracts.

5.2.21 Pending Litigations

The Company’s pending litigations comprise of claims against the Company and proceedings pending with Tax Authorities. The Company has reviewed all its pending litigations and proceedings and has made adequate provisions, wherever required and disclosed the contingent liabilities, wherever applicable, in its financial statements. The Company does not expect the outcome of these proceedings to have a material impact on its financial position. (Refer Note no. 5.1.1 for details on contingent liabilities)

5.2.22 (A) The Company periodically reviews all its long term contracts to assess for any material foreseeable losses.

Based on such review, the Company has made adequate provisions for these long term contracts in the books of account as required under any applicable law / accounting standard.

(B) As at March 31, 2026, the Company did not have any outstanding long term derivative contracts (previous year: ^ NIL).

5.2.23 Investor Education & Protection Fund.

For the year ended March 31, 2026, the company has transferred ^ 3 lakhs (previous year ^ 1 lakhs) to the Investor Education & Protection Fund.

5.2.26 During the Year ended March 31, 2026, provision for impairment on investments is net of reversal of impairment amounting to ^ 6,026 lakhs pursuant to sale of the underlying securities / receipt against the securities (previous year: net of reversal of impairment amounting to ^ 8,430 lakhs).

5.2.27 IRDAI, vide its circular IRDAI/Reg/2/216/2026 dated March 30, 2026, has notified the IRDAI (Actuarial, Finance and Investment Functions of Insurers) (Amendment) Regulations, 2026, mandating adoption of Indian Accounting Standards (Ind AS) by insurers with effect from April 1, 2026, while providing an option to seek a one-year forbearance considering implementation complexities.

The Company’s board has decided to request a one-year extension and postpone adopting Ind AS until April 1, 2027. The Company is in the process of filing this request with IRDAI.

Once IRDAI grants the forbearance, the Company will continue using its current accounting framework for all required financial statements for FY 2027 and will comply with all IRDAI requirements for insurance companies seeking such an extension.

5.2.28 The Company has implemented a framework to identify relevant applications from the overall IT universe as “Books of account” as per the Companies Act 2013. The Company’s books of account maintained in the electronic mode comply with the requirements to the Companies Act 2013, read with relevant rules and notifications, The audit trail has been preserved by the Company as per the statutory requirements for record retention from the date it was enabled.

5.2.29 Valuation of Investment property in accordance IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024, the Company’s investment property has been revalued. The Company has revalued all its investment properties held for more than one year and market value for such properties is based on valuation performed by an independent valuer. The real estate investment property is accordingly valued at ^ 8,318 Lakhs at March 31, 2026 (March 31, 2025: ^ NIL). The historical cost of the property at March 31, 2026 is ^ 4,419 Lakhs (March 31, 2025: ^ NIL).

5.2.30 Pursuant to the notification of the 4 new Labour Codes by the Government of India viz the Code on Wages, 2019, the Code on Social Security, 2020, the Industrial Relations Code, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the “New Labour Codes”) with effect from 21 November 2025, and pending issuance of the detailed Rules, the Company has reassessed its employee benefit obligations based on the revised definition of wages and expanded eligibility criteria under the New Labour Codes. Based on actuarial valuation and management’s best estimates, the Company recognised an incremental gratuity expense of ^203 lakhs & ^ 5,509 lakhs as past service cost during the quarter and year ended 31 March 2026 respectively, resulting in a corresponding reduction in profit and increase in gratuity obligation. As at 31 March 2026, unrecognised past service cost in respect of gratuity obligation amounts to ^ 1,490 lakhs. The impact on other employee benefit obligations is not material, and the Company continues to monitor developments and will review its estimates as further clarifications and Rules are notified.

5.2.31 The Board of Directors has declared an interim dividend of ^ 6.50 per equity share of face value of ^ 10 each at its meeting held on October 14, 2025, which is accounted for and paid during the quarter ended December 31, 2025.