THE GOVERNMENT INSUANCE DEPARTMENT.

Wairarapa Daily Times, Volume 6, Issue 1714, 19 June 1884, Page 2

THE GOVERNMENT INSUANCE DEPARTMENT.

. Tho number of < policies issued in 188,3 was rather more than double the number issued during the year ended June 30, 1882. .' This increase' is partly due to the large number of the investment policies issued under a table published for. the first time in the recent prospectus. The amount issued has not increased in the same proportion, being only about' 48 per cent in excess, of that assured under' the polioies issued during the twelve months ended 30th June, 1882,, The |

new proposals in the ordinary branch received during the calendar year under review numbered 6,843, for a total sum of L 1,457,283. And of these, 513 bacame policies, 581 were declined, the remainder not being taken up. The number of policies issued in the temperance , section has increased, 472 having beer toad during the six months ended 31st December, 1882, for an assured sum. of .£111,225, whereas in the year 1883, 998 were issued, assuring £204,424, A more than proportionate number of policies have been issued, although the sum assured is proportionately somewhat less than that of the former period. Claims on 108 policies have arisen during the year, the sum paid (including bonus additions and allowances for prospective or intermediate bonus) amounting to £29,351. At the close of the last financial period the total number of policies in farce in the ordinary branch, including both the general and temperance sections, and excluding reversionary bonus ad* ditions, , was 19,912, insuring £5,902,189. The net increase in the number and sum assured were therefore 4,024 and £723,472 respectively. The accumulated fund at tho. end of the year amounted to £846,159, exhibiting a net increase on the year of £141,270. In the industrial branch during the twelve months " there were issued 3,605 new policies, of which 1,068, assuring £37,541 for a total weekly premium of £33 13s lid were adult risks; and.2,537 for a weekly premium of 2d each', were on the lives of children. The policies in force at the end of,the year numbered 7,394, assuring L 98,964 on the lives of adults, and a varying sum. on the children's lives, for a total .weekly premium of Ll2l 10s lOd. '. The claims which arose during -the year comprised 44, of which 32 arose under infantile policies,' and,: amounted to £ll7, while 12 were on adult' lives amounting to L 345 4s 6d.