H.—B

The revenue of this branch for the calendar year was £215,550 7s. Bd., of which no less than £41,173 gs. 7d. represented interest —a sum considerably in excess of the death and maturity claims for the year. The accumulated fund at the end of the year amounted to £846,159 10s. 7d., exhibiting a net increase on the year of £141,270 15s. Bd. INDUSTRIAL BRANCH. During the twelve months there were issued in this branch 3,605 new policies, of which 1,068, assuring £37,541 ns. for a total weekly premium of £33 13s. nd., 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 7394, assuring £98,964 2s. on the lives of adults and a varying sum on the children's lives for a total weekly premium of £121 10s. iod. The claims which arose during the year comprised 44, of which 32 arose under infantile policies, and amounted to £117 ; while 12 were on adult lives, amounting to £345 4s. 6d. The amount assured by infantile] policies issued in the Industrial Branch depends upon the age of the child at entry, and the duration of the policy. 6 D. M. Luckie, Commissioner.

Revenue Account of the Government Insurance Department (Ordinary Branch) for the Year ended 31st December, 1883. £ s. d. £ s. d. £ s. d. Amount of funds on 31st December, 1882 704,8881411 Claims under policies, AssuRenewal premiums—Assurance, Annuity, ranee, including bonus addiand Endowment .. .. .. 157,565 6 4 tions .. .. .. .. 29,351 1 o New premiums on 5,113 policies, assuring Endowments matured .. .. 200 o o £1,039,915 13s. 2d., and yielding an Bonuses surrendered for cash .. 937 4 ° annual revenue of £31,386 ss. id. .. 12,78818 1 Annuities .. .. .. .. 2,445 3 6 Single premiums—Assurance and Endow- Surrenders .. .. .. 9,989 17 3 ment .. .. .. .. 2,988 811 Commission, new .. ..9,137 16 8 Consideration for annuities granted .. 1,029 4 J » renewal ..1,24818 9 Interest .. .. .. .. 4 I , 1 73 9 7 10,386 15 5 Fees .. .. .. .. 508 Expenses of Management, — Salaries, Head Office .. 8,181 3 4 „ Branch Offices and Agents .. 2,050 2 7 Medical fees .. .. 5,066 18 2 Travelling expenses .. .. 938 3 8 Advertising .. .. 452 16 9 Printing and stationery ..1,872 6 7 Rent .. .. .. 407 13 4 Postage .. .. .. 800 o o Telegrams .. .. .. 320 o 1 Exchange .. .. .. 117 2 4 Office furniture (depreciation) 202* o o General expenses .. .. 561 4 o , 20,969 10 10 Amount of funds, 31st December, 1883 846,159 10 7 £920,439 2 7 £920,439 2 7 D. M. Luckie, Government Insurance Office, 17th March, 1884. Commissioner. Examined and found correct.—James Edward FitzGerald, Controller and Auditor-General, 21 st March, 1884.

Balance-sheet of the Government Insurance Department (Ordinary Branch) on 31st December, 1883. Liabilities. £ s. d. Assets. £. s. d. Total Assurance, Annuity, and Endowment Loans on policies .. .. .. 63,54618 1 Funds (as per Revenue Account) .. 846,15910 7 Government securities .. .. 407,300 o O Claims announced not paid .. .. 4,11416 o Railway debentures (guaranteed by Surrenders .. '.. .. .. 353 no Government) .. .. .. 75,000 o o Bonuses surrendered for cash .. .. 24 6 4 Municipal Corporation debentures .. 10,172 o o Annuities .. .. .. .. 12 10 7 Harbour Board debentures .. .. 10,000 o o Commission (new) .. .. .. 1,335 410 Otago University debentures .. .. 15,000 o o Commission (renewal) .. .. .. 86 7 5 Fixed deposits, Bank of New Zealand .. 225,000 o o Medical fees .. .. .. .. 457 16 o Office furniture (Head Office and Agencies) 1,816 14 7 Premium deposits .. .. .. 531 010 Overdue premiums on Rent.. .. .. .. .. 188 13 4 policies in force ..£10,217 1 9 Sundry accounts owing .. .. 812 11 Outstanding premiums due in December, 1883 ... 13,803 17 2 ■ 24,020 18 11 Interest outstanding .. 71 18 4 Interest accrued not due 10,651 12 3 10,723 10 7 Agents' balances .. .. .. 775 18 11 Temporary advance to Industrial Branch 1,233 5 3 Cash on current account .. .. 8,683 3 6 £853,272 9 10 £853,272 9 10 D. M. Luckie, Government Insurance Office, 17th March, 1884. Commissioner. Examined and found correct. —James Edward FitzGerald, Controller and Auditor-General. March 21st, 1884.

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