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1922. NEW ZEALAND.

ACCIDENT INSURANCE BRANCH OF THE GOVERNMENT INSURANCE DEPARTMENT (ANNUAL REPORT ON THE) FOR THE YEAR ENDED 31st DECEMBER, 1921.

Laid before Parliament pursuant to Section 22 of the Government Accident Insurance Act, 1908.

Government Insurance Office, Wellington, 14-th June, 1922. I have the honour to submit my report on the business of the Accident Insurance Branch of the Department for the year ended 31st December, 1921, together with the Revenue Account and Balance-sheet. The gross premium income amounted to £36,288, and, after deducting reinsurances, to £35,932, a record amount. The claims were £16,786, an increase of £1,811 as compared with the previous year. The gross return from interest was £6,794, as compared with £6,209 in 1920. The sum of £1,020 was paid in taxes. The ratio of management expenses to premiums was 27-3 per cent., and to total income 23*6 per cent., both these ratios being below those of the last few years. The Balance-sheet shows an increase of £13,000 in War Loan stock, and the total holding by the Accident Branch is now £97,500, in addition to £10,000 debentures under the Finance Act, 1915, the two together representing 72 per cent, of the total invested funds. The Accident Fund at the end of last year —viz., £23,212 —was transferred to the Reserve Fund constituted under section 20 of the Government Accident Insurance Act. The statutory Reserve Fund now stands at £115,020. The total assets at the end of the year amount to £157,254. J. H. Richardson, Government Insurance Commissioner.