B.—l [PT. IV],

B. —l [PT. IV].

GOVERNMENT LIFE INSURANCE DEPARTMENT. Revenue Account op the Government Life Insurance Department por the Year ended 31st December, 1934. £ s. d. [ £ s. d Amount of funds at Ist January, 1934 8,965,061 2 5 Death claims under assurance policies, Renewal premiums—Assurance, annu- including bonus additions .. 201,389 6 0 ity, and endowment, less reinsurance Endowment assurances matured, includpremiums .. .. .. 583,667 5 0 ing bonus additions .. .. 312,955 2 0 New premiums (including instalments Endowments matured .. .. 10,314 19 0 of first year's premiums falling due Premiums returned on endowments .. 192 0 2 in the year) less reinsurance premiums 33,336 1 5 Bonuses surrendered for cash .. 13,086 8 11 Single premiums—Assurance and en- Annuities .. .. .. 25,526 9 11 dowment .. .. .. 50,484 12 3 Surrenders .. .. .. 53,204 10 7 Consideration for annuities .. .. 43,466 3 0 Loans released by surrender.. .. 98,840 6 0 Interest, rent, and other £ s. d. £ s. d. income .. 417,655 17 7 Commission, new* .. 27,702 14 6 Less land and in- ~ renewal 4,103 7 4 come tax, £20,833 3j ggg j jq 3s. 3d.; property Contribution to Public Service Superexpenses, £1,268 annuation Fund .. .. .. 727 1 0 Bs. 9d. .. .. 22,101 12 0 £ s. d. 395,554 5 7 Expenses of management— Salaries .. .. 33,611 14 6 Extra clerical assistance .. .. 415 9 11 Payment to Treasury under Finance Act, 1931 (No. 2) .. 916 6 0 Medical fees and expenses .. .. 1,480 3 10 Travelling-expenses 897 4 4 Advertising .. 348 6 9 Printing and stationery .. .. 1,276 7 3 Rent .. .. 4,656 15 10 Postage and telegrams .. .. 1,649 19 11 Exchange .. 34 5 1 Audit fees .. 325 0 0 General expenses .. 4,901 15 1 50,513 8 6 Property depreciation .. .. 1,250 0 0 Transfer to Investment Fluctuation Reserve Account .. .. 30,000 0 0 Amount of funds, 31st December, 1934 9,241,763 15 9 £10,071,569 9 8 £10,071,569 9 8 * Including agents' allowances. -Balance-sheet op the Government Lipe Insurance Department on 31st December, 1934 Liabilities. Assets. £ s - d - £ s. d. Total assurance, annuity, and en- Loans on policies .. .. .. 1,272,174 17 9 dowment funds (as per Revenue New Zealand Government securities .. 2,520,060 0 0 Account) .. .. .. 9,241,763 15 9 Loans to Local Bodies .. .. 1,284,335 1 6 Claims admitted, proofs not yet Landed and house property .. 121,603 2 7 completed .. .. .. 40,894 19 2 Landed and house property (leasehold) 2,023 10 0 Annuities .. .. .. 312 15 1 Mortgages on property .. .. 3,801,369 11 0 Commission .. .. .. 469 1 0 Properties acquired by foreclosure .. 34,666 19 9 Medical fees .. . . .. 143 17 0 Overdue premiums rjn £ s. d. Premium and other deposits .. 8,682 16 6 policies in force .. 6,501 19 5 Sundry creditors .. .. .. 3,233 12 7 Outstanding premiums Accident and Fidelity Fund.. .. 5,000 0 0 due but not overdue 57,030 8 1 Investment Fluctuation Reserve .. 453,843 3 4 63,532 7 6 Sinking funds on local £ s. d. Overdue interest .. 48,238 911 body loans .. 14,215 511 Outstanding interest Interest accrued there- due but not overdue 10,863 2 9 on .. .. 199 13 11 Interest accrued but 14,414 19 10 not due .. .. 97,302 0 6 156,403 13 2 Sundry debtors .. .. .. 864 15 9 Income-tax paid in advance.. .. • 22,500 0 0 Cash in hand and on current account.. 489,225 1 3 £9,768,759 0 3 £9,768,759 0 3 W. E. Arnold, Commissioner. J. W. Macdonald, Secretary. The Audit Office, having examined the Revenue Account and Balance-sheet, and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith.—G. E. C. Campbell, Controller and Auditor-General.

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