From the following information of XYZ Marine Insurance Ltd. for the year ending 31st March, 2014, find out the (i) Net Premium earned (ii) Net Claims Incurred. Particulars Premium Received Premium Receivable as on 01.04.2013 Premium Receivable as on 31.03.2014 Premium Paid Premium Payable as on 01.04.2013 Premium payable as on 31.03.2014 Claims Paid Claims payable as on 01.04.2013 Claims payable as on 31.03.2014 Claims received Claims receivable as on 01.04.2013 Claims receivable as on 31.03.2014 Direct Business (7) 92,00,000 4,59,000 3,94,000 73,00,000 94,000 1,01,000 Re-insurance (2) 7,86,000 37,000 33,000 6,36,000 28,000 20,000 5,80,000 16,000 12,000 2,10,000 42,000 39,000