H.—B

Bbvenue Agooust op the Government Life Insubanob Department for the Year ended 31st December, 1911. £ s. d. £ s. d. Amount of Funds at Ist January, 1911 4,554,729 17 2 Death claims under polioies, Assuranoe, •Tontine Savings Fund No. 2, trans- including bonus additions.. .. 126,813 2 0 ferred at maturity .. .. 18,561 13 9 Endowment Assurances matured, inRenewal premiums — Assurance, An- eluding bonus additions .. .. 105,138 10 0 nuity, and Endowment .. .. 316,174 9 0 i Endowments matured .. .. 1,623 0 0 New premiums (including instalments j Premiums returned on endowments .. 86 10 6 of first year's premiums falling due Bonuses surrendered for cash .. 9,649 9 10 in the year) .. .. 25,101 1 6 Annuities .. .. .. .. 16,665 0 7 Single premiums—Assurance and En- Surrenders, ordinary .. .. 35,438 3 10 dowment .. .. .. 1,701 14 8 Surrenders—Tontine polioies at maConsideration for Annuities .. .. 17,338 12 10 turity of their tontine periods .. 27,000 11 0 Interest .. .. .. .. 215,529 19 1 Loans released by surrender.. .. 22,542 18 0 Fees .. .. .. .. 217 7 Commission, newf .. £17,383 13 11 renewal 2,539 15 6 19,923 9 5 Land and income tax .. .. 14,042 15 9 Expenses of management— Salaries — Head Office ..£16,515 5 7 Branch offices and agents .. .. 7,575 9 10 Extra clerical assistance 245 19 2 Medical fees and expenses .. : ... 4,697 10 5 Travelling-expenses .. 892 10 11 Advertising.. .. 1,109 211 Printing and stationery 1,445 19 10 Rent .. .. 2,684 3 2 Postage and telegrams 1,507 15 7 Exchange .. .. 63 1 11 Office-furniture depreciation .. .. 270 9 3 General expenses .. 2,198 12 4 Triennial expenses .. 1,041 2 0 — 40,247 2 11 Investment Fluctuation Reserve .. 30,000 0 0 I Amount of Funds, 31st December, 1911 4,699,969 11 9 £5,149,140 5 7 £5,149,140 5 7 ' The equivalent of this amount has been allotted as reversionary bonuses, amounting to £31,065 is., to policies participating in the Tontine Savings Fund No. 2. + Including Agents' allowances. Balance-sheet of the Government Life Insurance Department on 31st December, 1911. Liabilities. Assists. £ s. d. £ s. d. £ s. d. Total Assurance, Annuity, and En- Loans on policies .. .. 791,703 11 11 dowment Funds (as per Bevenue Government securitiesAccount) .. .. .. 4,699,969 11 9 Consolidated stock .. 625,900 0 0 Claims admitted, proofs not yet com- Debentures issued pleted .. .. .. .. 33,223 14 8 under the District Annuities .. .. .. .. 277 12 5 Bailways PurcbasOommission .. .. .. 215 16 5 ing Act 1885 ExMedical fees .. ... .. 324 9 0 tension and AmendPremium and other deposits.. .. 6,266 8 9 ment Act, 1886 .. 40,000 0 0 Fire-insurance moneys in suspense .. 1,300 0 0 Debentures issued Sundry accounts owing .. .. 861 011 under the ImmiInvestment Fluctuation Reserve . . 113,663 6 1 gration and Public Works Act, 1870 2,168 16 0 668,068 16 0 Municipal Corporation debentures .. 123,161 710 County securities .. .. .. 97 0 3 Harbour Board debentures .. .. 39,000 0 0 Town Board debentures .. .. 5,950 0 0 Landed and house property .. .. 135,590 18 8 Landed and house property (leasehold) 287 14 3 Office furniture (Head Office and agencies) .. .. .. 1,081 17 3 Mortgages on property .. .. 2,899,753 0 7 ; Properties acquired by foreclosure .. 1,933 111 Overdue premiums on policies in force .. £5,647 18 2 Outstanding premiums due but not overdue.. 39,028 17 11 44,676 16 1 Overdue interest .. £1,268 1 7 Outstanding interest due but not overdue.. 6,918 5 7 Interest accrued but not due .. .. 55,876 16 2 64,063 3 4 Agents'balances .. .. .. 3,053 0 3 Cash in hand and on current account.. 77,681 11 8 £4,856,102 0 0 £4,856,102 0 0 Government Life Insurance Department, 29th February, 1912. J. H. Eichardson, Commissioner. W. B. Hudson, Audited and found correct. Secretary. Bobert J. Collins, Controller and Auditor-General.

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