H.—B.

FOURTH SCHEDULE.

CONSOLIDATED REVENUE ACCOUNT OF THE GOVERNMENT INSURANCE DEPARTMENT For the Period commencing 1st January, 1924, and ending 31st December 1926.

VALUATION BALANCE-SHEET OF THE GOVERNMENT INSURANCE DEPARTMENT As at 31st December, 1926.

11

£ s. d. £ s. d. Amount of Funds on ist January, 1924. . 6,222,484 13 o Death Claims under Policies, Assurances, Renewal Premiums .. .. .. 1,438,732 14 10 including Bonus Additions .. .. 547,213 4 o New Premiums .. .. .. 164,167 7 2 Endowment Assurances matured, includSingle Premiums .. .. .. 12,493 2 3 ing Bonus Additions .. .. 698,436 18 o Consideration for Annuities granted .. 47,835 9 8 Endowments matured .. .. 19,970 3 o £ s. d. Premiums returned on Endowments . . 682 18 1 Interest .. .. 1,095,724 10 4 Bonuses surrendered for Cash .. .. 18,292 17 3 Less Land and Annuities .. .. .. .. 64,904 7 6 Income Tax, Surrenders .. .. .. .. 103,974 o 3 £31,339 4 S -I P r °- Loans released by Surrender .. .. 148,451 10 6 perty Expenses, £ s. d. &c., £10,977 5s. 2d. 4 2 ,3 J 6 9 2 Commission, New* .. 108,224 5 9 1,053,408 12 „ Renewal .. 10,705 1 10 —-— 118,929 7 7 Expenses of Management— Salaries, Head Office . . 67,500 13 9 Salaries, Branch Offices and Agents .. 34,556 o 9 Extra Clerical Assistance .. .. 5,435 8 1 Medical Fees and Expenses .. .. 17,482 10 7 Travelling-expenses .. 3,466 19 6 Advertising .. 788 15 11 Printing and Stationery 6,579 6 4 Rent . . . . 16,804 16 7 Postage and Telegrams 4,695 7 11 Exchange . . . . 126 7 3 General Expenses .. n, 889 o 2 Triennial Expenses . . 4,378 19 1 Payment to Government Actuary's Department .. 1,906 10 10 Contribution to Superannuation Fund .. 3,071 9 o | — 178,682 5 9 1 Transfer to Investment Fluctuation Reserve .. .. .. .. 10,000 o o I Amount of Funds on 31st December, 1926 .. .. .. .. 7,029,583 16 2 £8,939,121 8 ij £8,939,121 8 1 * Including Agents' allowances.

Dr. £ Cr. £ To Net value of Liabilities (as per Valuation By Accumulated Funds (as per Consolidated Summary) .. .. .. ..6,582,792 Revenue Account) .. .. .. 7,029,584 Surplus .. .. .. 446,792 02 9.584