GOVERNMENT LIFE INSURANCE DEPARTMENT (ANNUAL RETURNS OF THE, FOR THE YEAR 1894).

Appendix to the Journals of the House of Representatives, 1895 Session I, H-08a

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1895. NEW ZEALAND.

GOVERNMENT LIFE INSURANCE DEPARTMENT (ANNUAL RETURNS OF THE, FOR THE YEAR 1894).

Laid on the Table of both Houses of the General Assembly in pursuance of Section 38 of " The Life Assurance Companies Act, 1873," and Sections 45 and 46 of " The Life Assurance Policies Act, 1884."

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Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1894. £ s. d. £ s. d. Amount of Funds at 31st December, 1893 2,128,589 18 0 Death claims under policies, Assurance, Renewal premiums — Assurance, An- including bonus additions .. .. 88,682 17 0 nuity, and Endowment .. .. 219,307 0 5 Endowment Assurances matured, includNew premiums (including instalments ing bonus additions .. .. 24,117 9 0 of first year's premiums falling due in Endowments matured .. .. 1,168 0 10 the year) .. .. .. .. 20,675 910 Premiums returned on endowments .. 65 7 2 Single premiums—Assurance and En- Bonuses surrendered for cash .. .. 17,008 7 5 dowment.. .. .. .. 2,441 911 Annuities .. .. .. .. 7,460 11 3 Consideration for annuities .. .. 11,779 15 0 Surrenders .. .. .. .. 21,400 7 3 Interest .. .. .. .. 115,270 710 Loans released by surrender .. .. 18,203 15 4 Fees .. .. .. .. 4 510 Commission, new .. £13,092 5 1 renewal.. 1,533 17 5 14,626 2 6 Land-and income-tax .. .. 5,916 19 10 Expenses of management—■ Salaries—Head Office £9,965 16 0 „ Branch Offices and Agents 5,303 5 11 Extra clerical assistance 1,507 14 7 Medical fees and expenses 4,838 6 4 Travelling-expenses 798 8 7 Advertising .. 948 14 5 Printing and stationery 1,511 6 5 Rent .. .. 2,116 7 6 Postage .. .. 1,813 8 7 Telegrams .. .. 469 3 4 Exchange .. .. 52 7 2 Office furniture depreciation .. .. 456 8 11 General expenses .. 2,720 8 3 Triennial expenses .. 2,472 5 1 Compensation for loss of office .. .. 205 3 3 35,179 i 4 Amount of funds at 31st December, 1894 .. .. .. 2,264,239 4 11 £2,498,068 6 10 £2,498,068 6 10

Balance-sheet of the Government Life Insurance Department on 31st December, 1894. Liabilities. £ s. d. Assets. £ s. d. Total Assurance, Annuity, and Endow- Loans on policies .. .. 405,166 15 11 ment Funds (as per Revenue Account) 2,264,239 4 11 Government securities — Claims admitted, proofs not yet com- Consolidated stock ..£680,079 0 0 pleted .. .. .. .. 15,985 16 4 Treasury bills .. 140,000 0 0 Annuities .. .. .. .. 310 10 Debentures issued under Commission .. .. .. 1,077 0 11 "The Government Medical fees .. .. .. 578 11 0 Loans to Local Bodies Premium and other deposits .. .. 4,034 1 1 Act, 1886" .. 10,000 0 0 Fire-insurance moneys in suspense .. 50 0 0 Railway debentures Tontine Savings Funds .. .. 6,002 8 8 (guaranteed by GoReserve for possible depreciation in free- vernment) .. .. 79,906 5 0 hold and mortgage securities .. 43,000 0 0 Debentures issued under "The Native Land Purchases Act, 1892 " 15,000 0 0 Debentures issued under " The Immigration and Public Works Act, 1870" .. 1,938 3 4 926,923 8 4 Municipal Corporation debentures .. 105,244 3 0 County securities .. .. .. 1,000 0 0 Otago University debentures .. .. 15,000 0 0 Harbour Board debentures .. .. 49,000 0 0 River Board debentures .. .. 935 0 0 Town Board debentures .. .. 500 0 0 Landed and house property .. .. 127,611 14 7 Office furniture (Head Office and Agencies) 3,993 5 2 Mortgages on property .. .. 517,079 18 11 Properties acquired by foreclosure .. 34,413 15 7 Overdue premiums on policies in force .. £5,756 9 6 Outstanding premiums due in December, 1894 30,260 19 0 36,017 8 6 Interest outstanding .. 2,840 5 7 Interest accrued, but not due .. .. 27,081 11 0 29,921 16 7 Agents'balances .. .. 3,058 9 7 Sundry accounts owing .. .. 1,417 13 6 Cash on current account .. .. 77,687 4 1 £2,334,970 13 9 £2,334,970 13 9 Government Life Insurance Department, Bth March, 1895. Josephus H. Richardson, Commissioner. Audited and found correct. W. B. Hudson, Secretary. Jambs C. Gavin, Assistant Controller and Auditor-General.

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Statement of Business

ASSURANCES. TOTAL. ile-life and Term Assurances. YEAR 1894. No. Sum Assured. Reversionary Bonus. Annual Premium. 1. Ordinary. t. Extra. Annual Premium. - Annuities. No. Sum Assured. Reversionary — Bonus. Annual Premium. 1. Ordinary. 2. Extra. poLicr S I SUED AND DISGON- £ £ £ s - d ' (239,357 17 9) \ 4,646 15 4| £ ■■ d. £ £ £ s. d. (138,713 11 61 { 3,805 12 8) Policies in foroe at Slat Dβ-) eember, 1893 f 31.7O9 8,302,257 518,998 7.855 7 2 18,421 5,489,420 378,976 Bonus allotted as at 81st) December, 1893 f 277, 268 • • 192,132 New Business, 1894 3.301 729.013 48 f 22,732 19 ill 1 167 9 of 3,142 2 6 1,397 364,704 48 I 9,035 5 41 { 113 14 6f Total 9,031,270 796,3H (262,090 17 1 4> Sl 4 4 4) 10,997 9 8 19,818 5,854,124 571,156 (147,748 16 101 \ 3,919 7 2f 35,010 Policies discontinued during) 1894 f 2,103 524,981 70, 060 ( 16,497 7 7} 1 327 8 9 f 146 12 10 1,215 343,851 49,832 ( 9,549 1 1) \ 265 15 10f Total Policies in force at 31st) December, 1894 ] 32,907 8,506,289 728,254 f 245,593 10 1) 1 4,436 15 7f 10,850 16 10 18,603 5,510,273 521,324 f138,199 15 91 \ 3,653 11 4j particula: ,S OF POLI ilES DXSCQNHow Discontinued. By Death 281 f 1 J i 2,411 19 7) 57 18 10) 1,154 8 1) 6 5 "I 3,404 10 ill 69 14 10J 146 11 10 211 64,240 7,780 f 1,837 18 81 \ 52 2 4f 79,O43 9,212 Maturity 102 21,643 3,553 Surrender 4*7 108,602 7,3io 232 70,042 5,359 ( 1,963 4 21 { 55 2 10) Surrender Bonus 36,000 26,887 ( 4,955 18 3) \ 116 7 8[ Lapse 1.303 315.693 13,985 I 8,654 14 4I 149 16 2) 772 209,369 9,806 Expiry Policy Expiry Premium f j 79° 7 3] 12 11 O) 81 7 5) 31 2 of f 780 5 01 1 12 11 Of / 11 15 0) { 29 12 Of Miscellaneous 010 524,981 70,080 J 16,497 7 71 { 327 8 9) 146 12 1 1,215 343,851 49,832 ( 9,549 1 11 265 15 10J 2,103 GRESS OF B SINESS O THE G 1VERNMEN 1 IN HJRANCE PR 16,356,847 1,117,670 J48g,622 16 101 ( 12,684 19 11f [244,029 6 9) I 8,198 4 4) 35,19710,586,690 804,767 (278,804 7 10) I 10,164 18 2f (140,604 12 II \ 6,511 6 10) Total issued 62,225 13,950 2 o Total void 29,318 7,850,558 391,416 3,099 5 2 16,594 5,073,417 283,443 Total in force .. 32,907 8,506,289 726,254 245,593 10 1 10,850 16 10 18,603 5,510,273 521,324 (138,199 15 9) I 3,653 11 4f Extra Premiums Eeduction of Premium by Bonus, &c. 4,486 15 7 297 13 3 Note.—The Ordinary Premium is the premium charged £250.377 18 11 Wellington, i\th February, 1895.

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at end of Year 1894.

Approximate Cost of Paper.-Preparation, not given; printing (1,400 copies), £1 Is.

By Authority: Samuel Costall, Government Printer, Wellington.—lB96. Price 3d.] 2—H. Ba.

ASSURANCES. ANNUITIES. SIMPLE ENDOWMENTS, INVESTMENTS, &c. Endowment As. Annuity Assurances. mrances. JK&d. S Annual Premium. Sum Assured. . ... Annual Annuities. p rem i um . No. Annual Premium Annuities. .. Sum No ' Assured. Annual Premium. No. No. 1. Ordinary. 2. Extra. nued dur: :NG THE YEAR 1894 £ £ s. a. £ s. a. £ s. a. £ 8. a. £ s. s. a. £ £ £ s. d. ( 99,432 10 61 { 841 2 8f 23 12 2 7,855 7 2 29,404 1,188 3 7 2,783,433 140,022 154 411 12,723 85,136 • • f 13,242 3 101 \ 53 14 6| 1,976 16 11 286 6 0 20 0 0 1,165 5 7 3( 3,588 1,801 355,821 48 5,400 30 149 4 9 225,158 (112,674 14 41 \ 894 17 2} 43 5,400 1,976 16 11 286 6 0 184 43 12 2 9,020 12 441 32,992 1,337 8 4 14,524 3,188,754 55 3,287 135 18 11 829 177,743 20,228 f 6,807 7 71 \ 61 12 11] 100 49 11 10 5 0 0 97 1 |105,867 6 91 \ 833 i 3} 181 43 12 2 8,923 11 9 386 29,705 1,201 9 5 42 5,300 1,927 5 1 281 6 0 18,695 2,961,011 204,931 :nued dur: :ng the y: IAR 1894. 66 14,703 1,432 j I 569 0 111 5 16 6/ 1,099 19 101 6 5 11/ 1,411 0 11 14 12 0j 1 100 49 11 10 5 0 0 97 0 3,553 24 1,168 54 8 3 78 20,475 19 30 6 8 1,951 955 166 87,605 9,113 { 3,658 6 11 33 8 6/ 12 1,164 40 10 0 519 104,960 4,179 • ■ 10 2 3 ( 58 18 5) 1 10 0] 0 1 10 14 0 ( 6,807 7 71 61 12 11} 9T 1 55 3,287 135 18 11 829 177,743 20,228 100 49 11 10 5 0 iF E 'ABLIS: :ment 31st (ECEMBER, 1894. ipart: :en' SINCE DA , ("205,763 10 71 1 2,520 1 9f f 99,896 3 101 \ 1,686 17 6f 43 5,400 1,976 16 11 286 6 247 157 7 5 11,973 5 1 1,841 96,028 4,611 5 0 24,897 5,671,729 312,903 66 113 15 3 3,049 13 4 1,455 66,323 3,409 15 7 2,710,718 107,973 1 100 49 11 10 5 0 11,202 105,867 6 91 181 43 12 2 8,923 11 9 386 29,705 1,201 9 5 42 5,300 1,927 5 1 281 6 13,695 2,961,011 204,931 at the true age; the extra, the additional premium imposed :'or any reaeoi whatsoever. JOSEPHUS H. RICHARDSON, Commissioner. MORRIS FOX, Actuary.