H.—B

Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1901. £ s. d. j £ s. d. Amount of funds at Ist January, 1901 8,139,956 13 6 j Death claims under policies, Assurance, ♦Tontine Savings Fund No. 1, trans- including bonus additions.. .. 122,471 8 0 ferred at maturity .. .. 16,752 13 11 Endowment Assurances matured, inRenewal premiums — Assurance, An- eluding bonus additions .. .. 41,212 11 0 nuity, and Endowment .. .. 266,815 14 10 Endowments matured .. .. 1,176 1 9 New premiums (including inFatalments Premiums returned on endowments .. 10 9 8 of first year's premiums falling due Bonuses surrendered for cash .. 16,276 17 6 in the year) .. .. .. 20,295 15 10 Annuities .. .. .. .. 11,628 15 6 Single premiums—Assurance and En- Surrenders, ordinary .. .. 23,919 4- 2 dowment .. .. .. 2,815 8 8 ; Surrenders — Tontine policies at maConsideration for Annuities .. .. 11,614 19 0 turity of their tontine periods .. 25,375 910 Interest .. .. .. .. 142,449 6 0 Loans released by surrender.. .. 14,028 13 4 Fees .. .. .. .. 9 19 Commission, new ..£12,038 7 9 „ renewal .. 2,045 7 7 14,083 15 4 Land-and income-tax .. .. 10,142 15 4 Expenses of management— Salaries— Head Office .. £10,640 13 6 Branch offices and agents .. .. 6,174 8 2 Extra clerical assistance 2,765 1 9 Medical fees and expenses .. .. 4,564 3 5 Travelling-expenses .. 803 0 1 Advertising .. .. 988 12 0 Printing and stationery 1,455 16 2 Rent .. .. 2,175 13 4 Postage .. .. 1,191 6 8 Telegrams .. .. 446 4 3 Exchange .. .. 105 7 3 Office-furniture depreciation '.. .. 310 2 2 General expenses .. 2,673 15 7 Triennial expenses' .. 673 10 0 34,967 14 4 Amount of funds, 31st December, 1901 3,285,415 12 9 £3,600,709 8 6 £^600^^1~6 P ar^tS a^iS t T^t^st I vl o^V^Uri. all<rtted " '• Te » ton «y *»«•-. amounting to £38,880 35., to policies

Balance-sheet of the Government Life Insurance Department on 31st December, 1901. Liabilities. Assets £ s. d. £sd £sd Total Assurance, Annuity, and En- Loans on policies .. 602 189 6 5 dowment Funds (as per Revenue Government securitiesAccount) .. .. .. 3,285,415 12 9 Consolidated stock .. 625,900 0 0 Claims admitted, proofs not yet com- Treasury bills 60 000 0 0 P let . ed 28,092 18 6 Railway debentures Annuities 53 11 0 (guaranteed by GoOommission 427 6 3 vernment) .. 40,000 0 0 Medical fees .. .. 456 15 0 Debentures issued Premium and other deposits.. .. 5,827 6 4 under "The Immi-Fire-insurance moneys in suspense .. 1,327 10 0 gration and Public Tontine Savings Fund No. 2 .. 5,228 5 1 Works Act, 1870" 2,010 12 1 Investment Fluctuation Reserve .. 36,296 19 7 Advance on hypothecation of Debentures issued under " The Government Accident Insurance Act, 1899" .. 1,000 0 0 ~ . . , „ 728,910 12 1 Municipal Corporation debentures .. 91,883 13 9 County securities .. ~ ~ 843 23 q . Haibour Board debentures .. .. 39,000 0 0 Town Board debentures .. .. 500 0 0 Landed and house property .. .. 123,563 510 Office furniture (Head Office and agencies) .. .. .. 2 ,633 1 2 Mortgages on property .. .. 1,614,478 17 8 Properties acquired by foreclosure .. 5,152 1 4 Overdue premiums on policies in force .. 5,794 13 11 Outstanding premiums due but not overdue.. 34,093 15 4 n . . x 39,888 9 3 Overdue interest .. 471 12 8 Outstanding interest due but not overdue.. 5,692 0 4 Interest accrued but not due .. .. 40,279 5 3 ... , 46,442 18 3 Agents balances .. .. ~ 3 ggg 1 u Sundry accounts owing .. .. 4 2 Cash in hand and on current account.. 61,507 19 8 £3,363,126 4 6 | £3,363,126 4 6 Government Life Insurance Department, 22nd April, 1902. J. H. Eichardson, Commissioner. .-,.,,,,,-. W. B. Hudson, Audited and found correct. o J. K. Warburton, Controller and Auditor-General.

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