Government Life Insurance Department
The. annual report of the Government Life Insurance Commissioner shows that while there has been a slight falling off in the amount of new business, fewer policies hove run off the books, them being an improvement of £72,579 in the amount assured. There baa been a decrease in the policies void, while, on the other hand, the net increase in the policies in force is much greater than for the previous year. A heavy lapse rate is a prominent feature of colonial life insurance generally, and common to all offices. However, the Commissioner reports, the evil has been minimised in this department. The increase in the renewal premium income has heen steady and -progressive, the number in 1892 beini> 212,437, as against 203,852 in 1891. The total amount of insurance retained by the department after twenty-three years of existence is over eight millions, and the amount voided by lapse and surrender has decreased year by year.
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Bibliographic details
Feilding Star, Volume XV, Issue 37, 12 August 1893, Page 3
Word Count
160Government Life Insurance Department Feilding Star, Volume XV, Issue 37, 12 August 1893, Page 3
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