3

H.—27

Revenue Account of the Government Insurance Department (Ordinary Branch) for the Year ended 30th June, 1882.

Balance-sheet of the Government Insurance Department (Ordinary Branch) on 30th June, 1882.

Government Insurance Office, Wellington, 9th August, 1882. D. M. Luckie, Commissioner. Examined and found correct: C. T. Batkin, Assistant Controller and Auditor. 24th August, 1882.

£ s. d. Amount of funds on 1 st July, 1881 ... 557,230 11 10 Renewal premiums—Assurance, Annuity, and Endowment ... ... ... 125,153 2 1 premiums on 2,523 policies, assuring £702,912, and yielding an annual revenue of £21,828 15s. 3d. ... ... ... 10,183 4 9 Single premiums—Assuranceand Endowment 2,106 19 5 Consideration for annuities granted ... 2,553 ° ° Interest ... ... ... ... 31,309 17 5 Fees ... ... ... ... 9 11 7 £ s. d. £ s. d. Claims under policies, Assurance, including bonus additions ... 3^.759 *7 ° Endowments matured ... ... 300 o o Bonuses surrendered for cash ... 5>°9° *3 I0 Annuities ... ... ... 2,210 19 9 Surrenders ... ... ... 9*231 4 7 Commission, New ... 6,290 3 9 „ Renewal ... 1,023 3 9 — 7.313 7 6 Expenses of Management,— Salaries, Head Office ... 4,947 2 7 „ Branch Offices and Agents 1.293 12 o „ Extra clerical assistance ... 452 o o Medical fees ... ... 3>ooi 18 4 Travelling expenses ... 374 10 1 Advertising ... ... 177 14 1 Printing and stationery ... 805 17 o Rent ... ... 350 o o Postage ... ... 475 o o Telegrams ... ... 176 5 6 Exchange ... ... 128 2 II Office furniture, depreciation 155 o o General expenses ... 265 1 II Alterations in offices ... 250 o o Compensation for loss of office 75 2 3 Quinquennial valuation expenses 822 10 o ■ '3.749 l6 8 Amount of funds on 30th June, 1882 ... 653,890 7 9 £728,546 7 1 £728,546 7 1

Liabilities. £ s. d. Total Assurance, Annuity, and Endowment Funds (as per Revenue Account) ... 653,890 7 9 Claims announced, but not paid ... ... 8,895 8 6 Surrenders ... ... ... ... 732 4 2 Bonuses surrendered for cash ... ... 39 2 10 Annuities ... ... ... ... 12 10 7 Commission (new) ... ... ... 793 5 2 Medical fees ... ... ... ... 438 7 6 Sundry accounts owing... ... ... 25 14 6 Premium deposits ... ... ... 1,126 12 7 Assets. £ s. d. Loans on policies ... ... ... 36,646 2 4 Government securities ... ... ... 559,700 o o Railway debentures (guaranteed by Government) ... ... ... ... 40,000 o o Municipal Corporation debentures... ... 2,500 o o Office furniture (Head Office and Agencies) 1,616 13 4 Overdue premiums on policies in force ... £5>°38 19 8 Outstanding premiums due in June, 1882 ... 10,367 7 5 , 15,406 7 1 Interest accrued, not due ... ... 3)624 13 9 Temporary advance to Industrial Branch ... 261 15 5 Agents' balances ... ... ... 1,105 5 2 Cash on current account ... ... 5,092 16 6 £66S,953 13 7 £665,953 13 7