H.—9b

1881. NEW ZEALAND.

GOVERNMENT LIFE INSURANCE DEPARTMENT (REPORT BY THE CONSULTING ACTUARIES ON THE NET SURPLUS OF PROFITS OF THE).

Presented to both Houses of the General Assembly in pursuance of Section 45 of « The Government Insurance and Annuities Act, 1874." government

Ketobt by Ihe Consultinc Actuaries, Mr. Bmii and Mr. &u>Dr, on the Net Sum],,, »f P,™l». «. * , f'w" ° the n. ecessary dat* reached us early in February, but it was not until the 23rrl «f--«,£^4° (^^■siassr^a *ar for th«te untilTo" .'jtr," 1™ "■ P1 *""8 th" ""U"b° '» h"d ' mi "» «»l ™» «.-«t.in,d nnintonptedlj systematic checks, as well as test-valuations for the more important group? o f the^ risks Hent wJ have found ,t impracticable to present our report at an earlier period fand^ wftrust thafthe caTe bestowed at every stage of the processes, and the close examination to which tf,e results; bare been subjected, will be more apprecated than an earlier, but perhaps less maturely weighed report 3. Tne following is a summary m a convenient form, of the financial transactions of the deoart ment in the quinquennial period ending on the 30th June, 1880:— «ui B «,nons ot the departPund, 30th June, 1875 .. 8" d- ,*. "• dAdd Income from— 109,967 12 1 Premiums ~ 482 392 lg 1 Annuity purchase-money 22 228 7 5 nter eBt - !!' 66^238 7 3 oundnes oq c q * * * k/O O O 560,958 18 5 Deduct Outgo for- 670 >926 £ laims, ... 114850 0 0 .Surrenders Uosg lg Q Annuities _. 8716 16 Q iixpenses, including commission .. 76 964 17 8 211,590 12 8 Fund, 80th June, 1880