H.—B

3

Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1905.

Balance-sheet of the Government Life Insurance Department on 31st December, 1905.

Amount of Funds at 1st January, 1905 Renewal premiums — Assurance, Annuity, and Endowment Slew premiums (including instalments of first year's premiums falling due in the year) Single premiums—Assurance and Endowment Consideration for Annuities Interest ?ees £ s. d. 3,665,582 16 11 292,052 0 8 21,414 0 10 537 0 0 7,756 0 6 169,152 17 8 12 10 8 Death-claims under policies, Assurance, £ s. d. including bonus additions .. .. 120,690 7 0 Endowment Assurances matured, including bonus additions .. .. 80,516 11 0 Endowments matured .. .. 1,713 7 5 Premiums returned on endowments .. 64 18 0 Bonuses surrendered for cash .. 1,568 8 10 Annuities .. .. .. .. 13,314 10 4 Surrenders .. .. .. 24,416 0 7 Loans released by surrender .. .. 20,863 18 1 Commission, new £14,962 18 1 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 offices and agents .. .. 6,613 4 3 Extra clerical assistance 1,386 13 5 Medical fees and expenses .. .. 4,398 7 11 Travelling-expenses .. 720 11 6 Advertising .. .. 1,079 18 2 Printing and stationery 1,238 0 7 Rent .. .. 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 of office.. .. 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

Liabilities. £ s. d. Total Assurance, Annuity, and Endowment Funds (as per Revenue Account) .. .. .. 3,822,576 15 7 Claims admitted, proofs not yet completed .. .. .. .. 25,041 12 1 Annuities .. .. .. .. 83 8 2 Commission .. .. .. 278 17 10 Medical fees .. .. .. 375 18 0 Premium and other deposits.. .. 5,534 8 7 Fire-insurance moneys in suspense .. 16 0 0 Tontine Savings Fund No. 2 .. 10,088 18 2 Investment Fluctuation Reserve .. 63,808 19 11 Assets. £ s. d. £ a. d. Loans on policies .. .. .. 679,493 5 6 Government securities— Consolidated stock .. 625,900 0 0 Railway debentures (guaranteed by Government) .. 40,000 0 0 Debentures issued under " The Immigration and Public Works Act, 1870 " 2,064 14 5 667,964 14 '5 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 4 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 6 11 Interest accrued 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; a trnount represents balance of purchase-moneys. Government Life insurance Department, 26t! h March, 1906. Audited and found correct. J. H. Richardson, Commissioner. W. B. Hudson, Secretary. J. K. Warburton, Controller and Auditor-General.