STATE FIRE INSURANCE

Dominion, Volume 7, Issue 2204, 17 July 1914, Page 3

STATE FIRE INSURANCE

The annua] report of the Government Life Insurance Commissioner, \vhicji was presented to Parliament yesterday, shows that during the year 1913, 4517' proposals • ivere dealt with for a total assurance of £1,259,050, .or slightly more than in 1912, when the total, was £1,258,032.' The number' of policies completed was 3749, assuring £1,039,007, with annual premiums amounting to £29,047. The annual "sum assured by each new policy has shown a decided tendency to increase, being £248 in 1911, £263 in 1912, and £275 in; 1913. The total business now in force is 51,343' policies, bearing an animal premium income of ;£363,721. The sum assured is £12,211,655, or, including revisionary bonuses, £13,539,467. Tbe total income of the Department last year, was £600,068. being an increase of £9754 upon 1912; The average interest earned by the Department was £4 15s. Id. per cent., as compared with £4 14s._ 2d. in 1912. The total sum r-aid on policies at deatli or maturity last year was £288,388.. There was t. reduction in management expenses from •£44,280 (in 1912) to £42,547. The total assets of the Department are,valued at £5,135.829. ' The liabilities on policies .(including claims admitted, but not fin. .allv dealt with) total £5.015,396.. > ; The annual report of the Accident Branch of the Department shows that the gross premium income for the year 1913 amounted to £23.677. and deducting reinsurances, to £23,277. The claims including, those' in process of settlement at the end of the year totalled £11,492, as agninsfc £12,016 for 1912. . The''income from interest was £3oSB. and the total expenses £7499. - The ratio of expenses to income was 32.2 per cent., and the ratio to total'income 27.9 pet cent. The-funds at the, end of tho year totalled £15,322, an increase of £7874, while reserve fund amounted to £.'!0l036. The total assets at the end of the year amounted to £78,002.