H.— 8

1927. 1928. 1929 (3) Claims: — « £ £ Claims by death during year .. .. 198,130 197,620 196,093 Claims by maturity during year .. .. 275,069 315,077 297,075 Total claims during year .. £473,199 £512,697 £493,168 Total claims paid since inception of Department... .. .. .. •• £11,737,918 (4) Management Expenses (including commission) .. 97,152 95,745 94,306 (5) Profits divided .. .. .. .. 190,500 200,287 214,188 (6) Funds : — Life-assurance funds .. .. .. 7,303,925 7,582,679 7,926,525 Investment-fluctuation Reserve and Accident and Fidelity Reserve .. .. .. 212,687 213,349 226,807 £7,516,612 £7,796,028 £8,153,332 The above statement gives clear indication that the Department has made consistent progress and in particular that, notwithstanding the additional business placed on the books and the additional cost of annual bonus distributions introduced in 1927, the actual expenses of management have steadily decreased during the three years. A similar statement of the operations during the past three triennial periods is as follows : — (1) Life Assurance Business:— 1921-23. 1924-26. 1927-29. (a) Total new sums assured effected during £ £ £ period .. .. .. .. 4,499,581 5,512,560 5,625,910 Annual premiums thereon .. .. 139,620 175,757 183,558 (b) Total sums assured at end of period (including bonus additions) .. .. 17,906,612 20,218,404 22,965,608 Annual premiums thereon .. .. 501,321 575,420 642,140 (2) Income during Period :— Interest and rents .. .. .. 917,826 1,084,747 1,260,006 Less land and income tax .. .. 23,407 31,339 47,425 Net interest and rents .. .. .. 894,419 1,053,408 1,212,581 Premium income, including consideration for annuities .. .. .. .. 1,454,387 1,663,229 1,882,070 £2,348,806 £2,716,637 £3,094,651 (3) Claims during Period : — Claims by death .. .. .. .. 530,990 547,896 591,843 Claims by maturity .. .. .. 653,295 718,407 887,221 Total claims during period .. £1,184,285 £1,266,303 £1,479,064 Total claims paid to date since inception of Department .. £8,992,551 £10,258,854 £11,737,918 (4) Management Expenses (including commission) .. 280,580 297,611 287,203 (5) Profits divided (excluding interim bonuses) .. 317,563 430,363 604,975 (6) Funds at end of Period :— Life-assurance funds .. .. .. 6,222,485 7,029,584 7,926,525 Investment-fluctuation Reserve and Accident and Fidelity Reserve . . . . . . 208,224 208,609 226,807 £6,430,709 £7,238,19'3 £8,153,332

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