H.—24
2
Accounts. I attach to this Report the accounts prescribed in the forty-first section of " The Government Insurance and Annuities Act, 1871." The income of the year from all sources amounted to £111,201 16s. 2d., and the accumulated Fund now stands at £292,523 2s. 4d., being an increase of £73,128 18s. 4d. during the year. Industrial Bbanch. The policy-holders are being transferred as rapidly as possible to the ordinary branch. Two claims, for £179 4s., have arisen during the year, caused by the death of two persons. I have, &c, C. Heapiiy, The Hon. the Colonial Treasurer. Commissioner.
REVENUE ACCOUNT of the Ordinary Branch, from 1ST JULY, 1877, to 30th June, 1878.
BALANCE-SHEET of the Ordinary Branch, 30th June, 1878.
£ s. d. Amount of funds on 1st July, 1877 ... 219,394 4 0 Renewal premiums, Assurance, Annuity, and Endowment ... ... 85,415 8 4 New premiums on 1,991 policies assuring £680,600, and yielding an annual revenue of £21,269 9s. 5d. ... 11,393 5 8 Single premiums, Assurance and Endowment ... ... ... ... 422 0 7 Consideration for Annuities granted ... 1,351 3 11 Interest ... ... ... ... 12,600 11 4 Fees ... ... ... ... 19 6 4 £ s. d. £ s. d. 219,394 4 0 Claims under policies, Assurance ... 18,250 0 0 , Endowment matured ... ... 100 0 0 85,415 8 4 ! Annuities ... ... ... 1,701 10 5 [ Surrenders, Assurance ...[£1,537 16 5 I „ Endowments ... 16 16 0 11,393 5 8 „ Annuities ... 38 16 3 1,593 8 8 422 0 7 , Commission, New ... 3,897 9 10 1,351 3 11 „ Renewal ... 922 3 10 12,600 11 4 4,819 13 8 19 6 4 Expenses of Management,—• Salaries, Head Office ... 2,92117 7 „ Branch Offices ... 476 5 0 Extra Clerks ... 810 14 11 „ Travelling Agents 2,019 13 9 Medical fees ... ... 2,697 13 1 Travelling expenses, Agents 1,528 8 1 ,, Others 99 18 9 Advertising ... ... 123 12 0 Printing and stationery ... 195 17 O Rent ... ... ... 34 3 4 Postage ... ... 475 O 4 Telegrams ... ... 127 19 11 Depreciation in office furniture ... ... 58 0 0 Miscellaneous ... ... 39 1 4 11,608 5 1 , Amount of Funds on 30th June, 1878 ... ... ... 292,523 2 4 £330,596 0 2 j £330,590 0 2
Liabilities. Assets. £ s. d. £ s. d. Loans upon Policies ... ... ... 3,278 9 2 Investments —Treasury Bills ... 239,400 0 0 Office furniture, Head Office and Agencies 533 8 9 Agents' balances ... ... ... 97 8 0 Overdue premiums on policies in force ... ...£5,802 2 11 Outstanding premiums due in June, 1878 ... ... 7,725 7 9 13,527 10 8 Interest outstanding ... 157 17 5 Interest accrued, but not due 2,544 0 11 2,701 18 4 Miscellaneous ... ... ... 140 19 3 Cash on deposit ... ... ... 38,000 0 0 Cash on Current Account ... ... 1,127 3 2 Total Assurance, Endowment, and Annuity Funds (as per Revenue Account) 292,523 2 4 Claims announced, but not paid ... 3,510 0 0 Annuities due, but not paid ... ... 17 10 6 Annuities unclaimed ... ... ... 500 0 0 Commission (new) ... ... ... 1,071 6 8 Travelling expenses ... ... ... 104 19 7 Medical fees ... ... ... 396 18 0 Advertising ... ... ... ... 18 0 0 New premium deposits ... ... 512 18 9 Printing, binding, &c. ... ... 93 7 2 Telegrams ... ... ... ... 24 15 1 Industrial Branch ... ... ... 30 19 5 Miscellaneous ... ... ... 2 19 10 £298,806 17 4 £298,806 17 4
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