H.—B

13

FOURTH SCHEDULE.

VII. 1 liabilities of the Department under life policies and annuities at the date of the valuation, showing the number of policies, the amount assured, and the amount of premiums payable annually under each class of policies, both with and without participation in profits, will be found in detail in the Valuation Summary, given on page 6. 2. The net liabilities and assets of the Department, with the amount of surplus, are shown in the Valuation Balance-sheet given on page 5. VIII. All participating policies which were in force at the date of the valuation, however recently effected, share in the profits. The reversionary bonuses allotted to policies recently issued follow the sum assured— i.e., they vest immediately, and are payable with the sum assured as a claim, however short the duration ; but they do not acquire a cash value for surrender purposes until the policies to which they belong have been two years in existence. IX. The results of the valuation are as follows : — (1.) The total amount of profit made by the Department during the three years ending the 81st December, 1914, including a balance of €8,965 lis. 9d. carried forward three years ago, was £239,116 19s. Od., of which amount £17,052 has been paid as interim bonuses during the triennium. (2.) The amount of profit divided among the policyholders as at the 31st December, 1914, was £213,008, which has been converted into reversionary bonuses amounting to €338,760. The number of policies which participated was 48,187, assuring the sum of €11,510,130, or, including reversionary additions, €12,756,723. (3.) The following are specimens of the bonuses which have been allotted, for the three years ending the 31st December, 1914, to policies for €100 upon which all previously allotted bonuses had been allowed to remain : —

Whole Life.

The cash values of the reversionary bonuses are computed by the H M Table of Mortality, with interest at 4i per cent. PERCY MUTER, Actuary. 21st May, 1915.

AGE AT ENTRY, Number 20. Years in , Force. Keversionaryj Cash Bonus. Value. mbe of irsii }ree. ao »5 30 35 AGE AT ENTRY, AGE AT ENTRY, AGE AT ENTRY, AGE AT ENTRY, 9r 20. 30. 40. 50. Number n 1 Years in • Reversionary! Cash Reversionary! Cash Keversionary! Cash Reversionary] Cash Force. Bonus. Value. Bonus. Value. Bonus. Value. Bonus. Value. I ; , ! 1 £ s. i. \ £ s. i. £ s. d. £ s. i. £ s. d. £ s. d. £ s. d. £ s. d. 3 14 OI54 3140 I 12 8 3140 220 3140 2 II 2 20 42O I 12 2 410,206 3 19 O 2 9 8 3 l8 O 2 l8 10 25 460 Il8o 420266 420!2l6 9 44O 3 76 30 4 10 o i 2 5 o 4 9 o i 2 16 o 4 8 9 j 3 6 4 470 313 7 35 Endowment Assurance. —Term 20 Years. 5 10 15 ao 340 1 14 5 34° 1 14 11 3401 15 9 340(11711 5 380 249 380 251 380262 3 8 o ! 2 7 i 10 3 11 o 2 17 1 3 11 o 2 17 4 3 11 o 2 17 9 3 11 o 2 18 4 15 3 14 0 314 o 3 14 o 3 14 o 3 14 o ' 3 14 o 3 14 o 3 14 o 20