GOVERNMENT LIFE INSURANCE DEPARTMENT: ANNUAL RETURNS, FOR THE YEAR 1905.

Appendix to the Journals of the House of Representatives, 1906 Session I, H-08b

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1906. NEW ZEALAND.

GOVERNMENT LIFE INSURANCE DEPARTMENT: ANNUAL RETURNS, FOR THE YEAR 1905.

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

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Eh venue Account of the Goveenment Life Insurance Depaktment for the Year ended 31st December, 1905. £ s. d. Death-claims under policies, Assurance, £ s. d. Amount of Funds at Ist January, 1905 3,665,582 16 11 including bonus additions .. .. 120,690 7 0 Renewal premiums — Assurance, An- Endowment Assurances matured, innuity, and Endowment .. .. 292,052 0 8 oluding bonus additions .. .. 80,516 11 0 New premiums (including instalments Endowments matured .. .. 1,713 7 5 of first year's premiums falling due Premiums returned on endowments .. 64 18 0 in the year) .. .. .. 21,414 0 10 Bonuses surrendered for cash .. 1,568 8 10 Single premiums—Assurance and En- Annuities .. .. .. .. 13,314 10 4 dowment .. .. .. 537 0 0 Surrenders .. .. .. 24,416 0 7 Consideration for Annuities .. .. 7,756 0 6 Loans released by surrender .. .. 20,863 18 1 Interest .. .. .. .. 169,152 17 8 Commission, new £14,962 18 1 Fees . 12 10 8 „ renewal 2,305 12 1 17,268 10 2 Land and Income tax .. .. 9,989 5 5 Expenses of management— Salaries — Head Office .. £12,102 4 8 Branch offioes and agents .. .. 6,613 4 3 Extra clerioal assistance 1,386 13 5 Medical fees and expenses .. .. 4,398 711 Travelling-expenses .. 720 11 6 Advertising.. .. 1,079 18 2 Printing and stationery 1,238 0 7 Bent .. .. 2,485 0 0 Postage .. .. 1,284 1 8 Telegrams .. .. 380 7 8 Exchange .. .. 82 16 7 Office-furniture depreciation .. .. 312 0 3 General expenses .. 3,209 0 5 Triennial expenses .. 1,207 19 6 Compensation for loss ofoffioe.. .. 71 4 9 36,571 11 4 Investment Fluctuation Reserve .. 6,953 3 6 Amount of Funds, 31st December, 1905 3,822,576 15 7 £4,156,507 7 3 £4,156,507 7 3 Balance-sheet of the Goveenment Life Insurance Department on 31st December, 1905. Liabilities. Assets. £ s. d. £ s. d. £ a. d. Total Assurance, Annuity, and En- Loans on policies .. .. ~ 679,493 5 6 dowment Funds (as per Revenue Government securities— Account) .. .. .. 3,822,576 15 7 Consolidated stock .. 625,900 0 0 Claims admitted, proofs not yet com- Railway debentures pleted .. .. .. .. 25,041 12 1 (guaranteed by GoAnnuities .. .. .. .. 83 8 2 vernment) .. 40,000 0 0 Commission .. .. .. 278 17 10 Debentures issued Medical fees .. .. .. 375 18 0 under "The IminiPremium and other deposits.. .. 5,534 8 7 gration and Public Fire-insurance moneys in suspense .. 15 0 0 Works Act, 1870" 2,064 14 5 Tontine Savings Fund No. 2 .. 10,088 18 2 ■ 667,964 14 5 Investment Fluctuation Reserve .. 63,808 19 11 Municipal Corporation debentures .. 114,245 6 4 County securities .. .. .. 588 5 9 Harbour Board debentures .. .. 39,000 0 0 Town Board debentures .. .. 500 0 0 Landed and house property .. .. 122,436 & 11 Office furniture (Head Office and agencies) .. .. .. 2,656 16 3 Mortgages on property .. .. 2,132,039 10 1 Properties acquired by foreclosure* .. 803 14 11 Overdue premiums on policies in force .. 5,724 5 4 Outstanding premiums due but not overdue.. 38,773 6 0 44,497 11 4 Overdue interest .. 684 19 7 Outstanding interest due but not overdue.. 5,924 611 Interest acorued but not due .. .. 46,559 4 6 53,168 11 0 Agents'balances .. .. .. 2,171 4 3 Sundry accounts owing .. .. 624 14 0 Cash in hand and on current account.. 67,613 19 7 £3,927,803 18 4 £3,927,803 18 4 * Sold under agreement for sale and purchase; amount represents balance of purchase-moneys. Government Life Insurance Department, 26th March, 1906. J. H. Eichardson, Commissioner. Audited and found correct. W. B. Hudson, J. K. Warbueton, Secretary J Controller and Auditor-General.

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Statement of Business

Wellington, ist March, 1906.

ASSURANCES. TOTAL. YEAR t9O5. 1 \J a,,™ ReverNo - Aslu?ed sionary - Assured. Bonus . 1 yvi_. Annual Premiums. J. Ordinary. 2. Extra. Whole-life and Term Assurances. Annual Sum Bever- Premiums. No. ! A °,,, n j sionary Assured. Bonus . | j. Ordinary. I 2. Extra. Annuities. 1. Immediate. 2. Deferred. POLI IES ISSUED AND DISCON- £ £ / s. d. { 309,118 6 6 1 3.046 5 2 ( 23,451 10 11 I 50 14 8 £ s. d 13,140 2 9 31.524 1 o 16,604 16 4 £ £ & s. a. (102,759 4 9) ( 2,189 14 9) 59 9 0J I 0 13 8f Policies in force at 31st December, I 1904 j 44,194 10,259,562 1,001,518 14,631 4,254,574 670,956 New business, 1905 3,"6 716,021 4 964 Total .. 10.975.583 1,001,518 { 332,569 17 5 I 3,096 19 10 { 16,507 16 .0 ( 160 17 6 J 51,269 o i } 1,964 i 5 14,635 4,255,538 670,956 (102,818 13 9) 1 2,190 8 5f f 4,415 4 8l t 98 12 If 47.310 Policies discontinued during 1905 2,173 5071267 46,767 515 155,656 27,344 Total Policies in force at 31st DeO oember, 1905 f 45,137 10,468,316 954,751 { 316,062 1 5 I 2,936 2 4 13,548 2 71 35,756 16 If 643,612 ( 98,403 9 1) [ 2,091 16 4J 14,120 4,099,882 'ARTICUL. RS >F POLICIES DISCONHow Discontinued. By Death Maturity 372 311 100,665 67,942 17,508 12,532 ( i 3,106 10 3 79 16 4 2,873 13 3 14 13 2 3.225 14 o 23 14 11 I 540 12 8 I - } 1.371 H 5 245 77,598 15,756 ( 2,251 0 51 66 19 4f <* Surrender 440 97,170 5.642 117 32,695 3,379 I 898 2 31 11 12 llf Surrender of Bonus 2,813 1,921 Lapse 1,048 241,090 8,272 ( ■i { i 1 7,051 19 4 27 17 2 420 185 19 o 1 15 o 59 18 2 13 o 11 } 5i 14 4 ) - 151 44,963 6,288 i I I 1,088 2 31 13 13 If 4 2 or* 155 15 0) 1 15 Of 18 2 91 4 11 9f Expiry of Policy 2 400 2 400 Expiry of Premium Miscellaneous Total .. 507,267 46,767 ( 16,507 16 0 160 17 6 { 1,964 1 5 I 4,415 4 81 98 12 If 2,173 515 155,656 27,344 .OGRESS OF BUSINESS F GOVERNM: INT LI 'E IN iURANCE Total issued Total void Total in force •• 97.604 .. 52,467 • • 45,137 I 23,785,2011,919,819! 13,316,885 965,068 I {734.057 8 9) 1 14,112 9 of J4 I 7.995 7 4l 1 11,176 6 8j 65,071 6 8 15,766 8 o 39,600 25,480 11,696,59: 7,596,71: I i 1,294,745! : 651,133! (308,471 7 6] I 10.7S8 16 7| J210.067 18 6) { 8,697 0 3/ 10,468,316 954,751 316,062 1 5 {13,548 2 71 135,756 16 1J 14,120 4,099,88: 2 643,612! f 98,403 9 1\ ( 2,091 16 4J Extra Premiums Reduction of Premium by Bonus, &o. 2,936 2 4 222 7 o Note. —TheO trdmary Pi ■emium is th b premium charged £319,220 10 9

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at end of Year 1905.

J. H. EICHAEDSON, Commissioner. MOERIS POX, Actuary.

Approximate Cost of Paper. —Preparation, not given; printing (1,450 copies), 19e.

<t By Authority: John Mackay, Government Printer, Wellington.—l9o6. Price 6d.]

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ASSURANCES. ANNUITIES. SIMPLE ENDOWMENTS, INVESTMENTS, ETC. Endoivment Assurances. Annuity Assurances. Annual 1- Su ™ w Sum ?*™l' Premiums. a BoltS' Deferred Annual *">• Assured. «™g L Ordinan/ , N °' Annuities. Premium. 2. Extra. Bonus. No Annual Annuities. °- Premium. 2 Imme diate. 2. Deferred. S " m Annual N °- sured. Premium - i TINUED DURING THE YEAR 1905. I? -G £ c A i? H B A J? a r £ £ £ a. d. £ £ s. d. £ a. c ■27,952 5,836,172 328,576 j 198 '™ H 613 I 8 f'ggg| 31,335 19 44,417 10 £ £ £ s. d. (198,762 17 10) \ 856 10 5/ ( 21,926 19 0\ \ 50 1 0) £ f 83,7001 ( 1,986/ j 17,5001 I ■• j £ s. d. £ s. d. £ a. d. £ s. d. 13,140 2 91 188 1 8 f £ £ a. d. 5,836,172 328,576 613 31,335 19 4 4,417 10 8 ( 314 1 7 60 15 1 677 85,116 3,117 18 5 2,907 686,957 .. j 21,9 ?a X ? „} 106 I 17 ' 500 1 5,785 9 10 945 16 686,957 106 5,785 9 10 945 16 4 18 46 19 6 819 6 6 81 10,600 472 7 1 30,859 6,523,129 328,576 19,319 (220,689 16 10) 1 906 11 5/ ( 11,561 15 10i ( 62 5 51 719 31 [101,2001 i 1,986/ ( 4,200) t 10*1 37,121 9 2 1,556 14 9 5,363 7 0 218 19 10 339 11 107 14 7 30 4 0 14,147 10 11 758 62 95,716 3,590 5 S 1,554 339,878 407 6 8 7,533 281 11 £ 29,305 6,183,251309,257 (209,128 1 0) 1 844 6 0J 688 f 97,000) 1 1,882) 35,564 14 5 5,144 7 2 328 77 10 7 13,740 4 3 696 88,183 3,308 13 7 T] INUED DUK [NG THE Y: 1905. 113 294 22,617 66,229 1,737 12,532 I I 832 19 101 12 17 Of 2,793 14 1) 14 13 2 J 1,996 0 51 12 2 0/ I 4501 15/ 133 6 0 22 10 0 11 407 6 8 17 1,713 79 19 266 56,905 2,174 27 i 3,6501 89/ 1,371 14 5 190 8 10 30 3,920 141 2 892 881 194,127 1,984 I 5,898 3 91 14 4 1) 1 100 51 14 4 5 8 0 15 1,900 60 5 k 30 4 0 I 40 17 91 8 9 2/ 0 13 0 0 4 1,554 339,878 19,319 J 11,561 15 101 I 62 5 5[ 31 ( 4,2001 104/ 1,556 14 9 218 19 10 11 30 4 0 407 6 8 62 7,533 281 11 d: :en SINCE DA , 'E OF ESTABLISH MENT O 3 .st DECEMBER, 19 5. ipart: 54,003 11,774,567 622,793 (410,683 18 3) 1 3,323 12 5/ (201,555 17 3] I 2,479 6 5/i 811 123 (114,0501 | 41 8U 9 4 1 2,281/| 41,b11 y i 17,050 ! „ OAa -, . ,, J 399/ b ' 2ib U n 6,042 17 529 201 265 2 0 23,259 17 i 2,661 199,989 8,594 3 111,806 5,285 9 1 24,698 5,591,316 313,536 898 10 187 11 5 9,519 13 1 1,965 29,305 6,183,251 ,309,257 (209,128 1 0) 1 844 6 0J I 688 Piffle I* a 5,144 7 , (321 ' "I 7 77 10 7 13,548 2 7 192 1 8 ]- 696 88,183J I J3|3,308 13 ; at the true age; thi Extra, ;ke additional premium i] iposed for any reason whatsoever.