GOVERNMENT LIFE INSURANCE DEPARTMENT (ANNUAL RETURNS OF THE) FOR THE YEAR 1895.

Appendix to the Journals of the House of Representatives, 1896 Session I, H-08a

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1896. NEW ZEALAND.

GOVERNMENT LIFE INSURANCE DEPARTMENT (ANNUAL RETURNS OF THE) FOR THE YEAR 1895.

Laid on the Table of both Houses of the General Assembly in pursuance of Section 38 of " The Life Assurance Companies Act, 1873."

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Eevbnub Account of the Goveenment Life Insurance Department for the Year ended 31st December, 1895. £ a. a. i £ s. d. Amount of Funds at 31st December, 1894 2,264,239 4 11 j Death claims under policies, Assurance, Renewal premiums — Assurance, An- including bonus additions .. .. 99,688 19 0 nuity, and Endowment .. .. 230,052 711 i Endowment Assurances matured, includNew premiums (including instalments ing bonus additions .. .. 27,663 7 0 of first year's premiums falling due in : Endowments matured .. .. 625 8 0 the year).. .. .. .. 18,95113 9 Premiums returned on endowments .. 23 6 8 Single premiums—Assurance and En- Bonuses surrendered for cash .. .. 2,842 3 7 dowment.. .. .. .. 986 15 8 Annuities .. .. .. .. 8,729 18 4 Consideration for annuities .. .. 16,04111 2 Surrenders .. .. .. .. 22,282 12 9 Interest .. .. .. .. 119,973 4 5 Loans released by surrender .. .. 9,688 2 7 Fees .. .. .. .. 6810 j Commission, new .. £10,946 6 4 renewal.. 1,597 19 5 12,544 5 9 Land-and income-tax .. .. 6,622 14 7 Expenses of management— Salaries—Head Office £10,010 311 „ Branch Offices and Agents 5,490 i 5 Extra clerical assistance 1,729 7 7 Medical fees and expenses 4,185 12 9 Travelling-expenses 674 2 4 Advertising .. 760 2 11 Printing and stationery 1,139 19 10 Rent .. .. 2,208 4 6 Postage .. .. 1,509 13 7 Telegrams .. .. 524 0 3 Exchange .. .. 70 8 0 Office furniture depreciation .. .. 431 7 11 General expenses .. 2,261 18 11 Triennial expenses .. 300 0 0 31,295 6 11 Amount of funds at 31st December, 1895 .. .. .. 2,428,245 1 6 £2,650,251 6 8 £2,650,251 6 8 Balance-sheet of the Government Life Insurance Department on 31st December, 1895. LIABILITIES. ASSETS. £ s. d. £ s. d. £ s. d. Total Assurance, Annuity, and Endow- Loans on policies .. .. 441,959 3 9 ment Funds (as per Revenue Account) 2,428,245 1 6 Government securities— Claims admitted, proofs not yet com- Consolidated stock .. 670,116 0 0 pleted .. .. .. .. 15,243 19 0 Treasury bills .. 140,000 0 0 Commission .. .. .. 839 2 11 Debentures issued under Medical fees .. .. .. 647 17 0 " The Government Premium and other deposits .. .. 3,256 12 7 Loans to Local Bodies Tontine Savings Funds .. .. 7,957 13 0 Act, 1886" .. 10,000 0 0 Reserve for possible depreciation in free- Railway debentures hold and mortgage securities .. 43,000 0 0 (guaranteed by Government).. .. 79,925 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" .. 1,947 1 0 916,988 1 0 Municipal Corporation debentures .. 106,691 6 1 County securities .. .. .. 1,000 0 0 Otago University debentures .. .. 15,000 0 0 Harbour Board debentures .. .. 43,809 2 10 River Board debentures .. .. 435 0 0 Town Board debentures .. .. 500 0 0 Landed and house property .. .. 132,586 10 11 Office furniture (Head Office and Agencies) 3,882 11 3 Mortgages on property .. .. 662,314 10 6 Properties acquired by foreclosure .. 32,399 19 5 Overdue on policies in force .. £7,359 3 3 Outstanding premiums due in December, 1895 29,166 7 0 36,525 10 3 Interest outstanding .. 3,476 19 0 Interest accrued, but not due .. .. 28,940 9 3 32,417 8 S Agents'balances .. .. 3,624 9 8 Sundry accounts owing .. .. 1,483 17 1 Cash in hand and on current account .. 67,572 15 0 £2,499,190 6 0 £2,499,190 6 0 Government Life Insurance Department, 21st February, 1896. Josephus H. Eichardson, Commissioner. Audited and found correct. W. B. Hudson, Secretary. James Edward FitzGbrald, Controller and Auditor-General.

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Statement of Business

ASSURANCES. TAL. Whole-life and Term Assurances. YEAR 1895. No. Sum Assured. Reversionary Bonus. Annual Premium. Annuities. Annual Sum Bever- Premium. Na i,.,,.»j sionary Assmed. L Qrgjfaary 2. Extra. 1. Ordinary. 2. Extra. polici: S ISSUED AND DISCONPolicies in force at 31st De-j oember, 1894 ) 32,907 £ 8,506,289 £ 726,254 £ s - d - (245,593 10 11 1 4,486 15 7j £ 8. d. 10,850 16 10 18,603 £ 5,510,273' £ 521,324 £ s. d. (138,199 15 9) \ 3,653 11 4j New Business, 1895 2,874 608,048 f 18,966 3 7) \ 158 16 2/ 3,565 i 5 964 235,395 f 6,143 19 8) \ 106 5 If Total 35,78i 9."4,337 726,254 (264,559 13 8) I 4> 6 45 11 9J 14,415 18 3 19,567 5,745,668 521,324 (144,343 15 51 ( 3,759 16 6/ Policies discontinued during) 1895 J 1,813 462,370 32,992 (14,568 3 8) \ 318 16 2} 347 9 4 1,050 306,155i ! 22,278; f 8,570 13 9) ( 252 3 3J Total Policies in force at 31st| December, 1895 f 249,991 10 01 1 4,326 15 7} (135,773 1 8) 1 3,507 13 2j 33,968 8,651,967 693,262 14,068 8 11 18,517 5,439,513 499,046 pa: ticula: ,S O POLICIES DISCONHow Discontinued. |y Death Maturity 277 104 88,270 23,689 10,134 4,150 f I J 1 I 2,787 18 7) 71 5 8} 1,158 10 7) 16 13 4) 3.219 9 4l 54 § 2J 347 9 4 208 74,260 8,622 f 2,233 15 7) 1 64 10 8 J Surrender 398 IO3.494 7,014 216 63,519 4,868 ( 1,678 16 111 \ 42 2 8J Surrender of Bonus 5,746 j / 1 j 1 6,674 8 5{ 100 11 4J 1 1 11 597 9 7) 30 11 9] 129 5 31 45 5 "J 4,101 ! ( 3,980 12 10) t 76 19 9 J 1 1 11 f 597 9 71 I 30 11 9f 7S 16 111 { 37 18 5j J ( 8,570 13 91 \\ 252 3 3} Lapse 1,033 246,817 5,948 625 168,2771 4,687! Expiry of Policy 1 100 1 100 Expiry of Premium liscellaneous -(1) 1,813 462,370 32,992 f 14,568 3 8) 1 318 16 2J 347 9 4 1,050 306,155 22,278 PR GRESS OP BUSINESS O THE G >VERHMEN : INSURANCE 'ofcal issued 65,099 16,964,895 1,117,670 (508,589 o 5) ( 12,843 X 6 I J (258,597 10 5) ( 8,517 o 6/ I7>5i5 3 5 36,16110,819,081 17,6445,379,57: 804 767/2847948 7 6) BU4, ' b 'i( 10,271 3 3) 305 721 ! P 9 ' 175 5 10 J 6;763 10 1} 'otal void 31,131 8,312,928 424,408 3,446 14 6 Total in force .. 33,968 8,651,967 693,262 249,991 10 0 14,068 8 11 18,517 5,439,513: 499,046 .35,773 1 8 3,507 13 2 Extra Premiums Eeduction of Premium by Bonus, &c. 4.326 15 7 307 * ° Notk.—The Ordinary Premiu: is the premium charged £254,625 6 7 Wellington, 13th February, 1896.

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at end of Year 1895.

Approximate Cost of Paper.— Preparation, not given ; printing (1,225 copies), £i 6s. 6d.

By Authority: John Mackat, Government Printer, Wellington.—lB96. Price 6d. 2— H. Ba.

ASSURANCES. ANNU ITIES. SIMI ENDOWMI VESTME 'LE NTS, INITS, &C. Endow, ,ent Assurances. Annuity Assurances. No. Sum Assured. Reversionary Bonus. Annual Premium. 1. Ordinary. X. Extra. Annual Premium. _ No. Sum Ar.r,i,;tioa Annual Assured. Ann uities. Premium. No. Annual Premium Annuities. No. Sum Assured. Annual Premium. :nued dur: :ng the y: IAR 1895. £ £ £ s. d. [105,867 6 9) I 833 4 3( £ £ s. a. £ s. a. \£ s. d. £ s. a. £ £ s. d. 3,695 2,961,011 204,930 42 5,300 1,927 5 1 ! 281 6 0 181 43 12 2 8,923 11 9 386 29,705 1,201 9 5 1,801 363,249 f 12,346 6 01 1 52 11 If 6,000 2,052 9 0 326 14 0 18 0 0 1,512 12 5 30 3,404 131 3 11 41 38 .5,496 3,324,260 204,930 (118,213 12 91 { 885 15 4/ 83 11,300 3,979 14 1 608 0 0 219 61 12 2 10,436 4 2 416 33,109 1,332 13 4 718 153,837 10,714 f 5,881 3 1) 1 66 12 11f 347 9 4 39 2,378 116 6 10 .4,778 3,170,423 194,216 (112,332 9 8) \ 819 2 5 J 83 11,300 3,979 14 1 608 0 0 213 01 12 2 10,088 14 10 377 30,731 1,216 6 6 TINUED DURING THE Y iAR 1895. 63 86 14,010 28,064 1,512 4,150 f 554 8 0) I (i Iβ Of j 1,125 10 81 16 18 4[ f 1,486 0 2) I 12 5 6] • • 347 9 4 18 625 32 19 11 167 38,923 2,146 15 1,052 54 12 3 i 1,045 f 2,666 0 11) t 23 11 7 J 28 14 8 402 77,840 1,261 6 700 f 50 8 4i 1 7 7 6) < 5,881 3 II I 66 12 11/ 1 718 153,837 10,714 6 347 9 4 89 2,378 116 6 10 IPARTMENT SINCE DATE iF E iTABLIS: :MENT TO 31st DECEMB iR, 1895. 26,698 6,034,977312,903 { 21 f;™ J^} o aaA ccmo act dO5i777 6 111 2,864,554118,687 1 1Q g - 3 170 423194 9 81 _ 819 2 g| 8: y ii,4oo4,029 5 11 I 618 0 0 285175 7 513,485 17 6 72113 15 3 3,397 2 8 1871 99,432 4,742 8 11 1494 68,7013,526 2 5 377 30,7311,216 6 6 11,920 100 49 11 10i 5 0 0 .4,778 I 11.300J 3,979 14 1 COS 0 0 213 61 12 210,088 14 10 377 attl te true age; the extra, the additional premium imposed for any reaso: whatsoever. JOSEPHUS H. RICHARDSON, Commissioner. MORRIS FOX, Actuary.