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Waikato Times, Volume XXXIII, Issue 2678, 10 September 1889, Page 2

The annual report of the Government Life Insurance Department for the year ending 21st December last, has been pre scnted to the House of Representatives, and shows continued aud satisfactory progress. The new business received during the year was represented by 3,932 proposals to assure the sum of £1,065,946 19s Sd. Of these 2,957 proposals were completed and became policies assuring £785,09*2 15s, being £18,140 l*2s Sd iu excess of the amount insured during the preceding year. In proof of the increasing popularity of the Tontine system, the Commissioner states that 1,/93 policies for £524,830 were added to that section of the Depprtmenfc. The sum of £09,435 8s 4d was paid in satisfaction of 216 policies through death of the insured, and £6,612 4s was paid for matured endowments. The total income for the year was £282,200 15s Id, an increase over the previous year of £13.828 8s Sd. The accumulated fund on _ the 31st December amounted to £1,452,478 14s Sd, representing an increase to the funds of £123,955 8s 6d. This is a very satisfactory result to show for the twenty years in which the Department has been in existence, and, as the Commissioner says in his report, "it is no leas gratifying to know that it continues to grow in popular favour."