H.—B

1884. NEW ZEALAND.

GOVERNMENT INSURANCE COMMISSIONER (REPORT OF THE, FOR THE YEAR ENDED 31st DECEMBER, 1883).

Prepared for Presentation to both Houses of the General Assembly in pursuance of Section 41 of " The Government Insurance and Annuities Act, 1874 ," and of Section 15 of" The Public Revenues Act, 1882."

„ , „ ~',-„,,. Wellington, 17th March, 1884. Owing to a change effected by the Public Revenues Act of 1882, my last report was for a period of six months only. The transition therein mentioned having been accomplished, I have now the honour to submit the accounts for the calendar year 1883. It will be convenient to compare the tabular details subjoined, not with the corresponding results given in the last report, as those relate to a period of only six months, but with the tables included in the report for the twelve months ended 30th June, 1882. It will be seen that the number of policies issued in 1883 was rather more than double the number issued in the period referred to. This increase is partly due to the large number of investment policies issued under a table published for the first time in the recent prospectus. The amount insured has not increased in the same proportion, being only about 48 per cent, m excess of that assured under the policies issued during the twelve months ended 30th June, 1882. ORDINARY BRANCH. The new proposals in this branch received during the calendar year under review numbered 6,843, for a total sum of £1, 457,293 ss. 4d. Of these, 5,113 became policies, 581 were declined, the remainder not being taken up. The number of policies issued in the temperance section has increased, 472 having been issued during the six months ended 31st December, 1882 for an assured sum of £111,225 ; whereas, in the year 1883, 998 were issued, assuring £204,424. It will thus be seen that a more than proportionate number of policies has been issued, although the sum assured is, proportionately, somewhat less than that of the former period.

Claims on 108 policies have arisen during the year, the sum paid (including bonus additions and allowances for prospective or intermediate bonuses) amounting to £29,351 is. The following summary shows the policies discontinued during the year :—

At the close of the last financial period the total number of policies in force in the ordinary branch, including both the general and temperance sections, and excluding reversionary bonus additions, was 19,912, insuring £5,902,189 13s. 2d. The net increases in the number and sum assured were, therefore, 4,024 and £723,472 13s. 2d. respectively.

Class. No. of Policies. Sum Assured. Single Premiums. Annual Premiums. Assurance—General section .. Assurance —Temperance section Endowment Annuity 3.470 998 641 4 £ s. d. 814,062 o o 204,424 o o 21,429 13 2 £150 per annum £ s. d. 1,966 10 11 6 17 6 112 13 10 1,931 10 9 £ s. d. 24.339 4 1 5,98i 7 4 1,065 13 8 Total .. 5.ii3 I.°39.9I5 13 2 4,017 13 o 31.386 5 1 Add single premiums .. 4,017 13 o Tot; new premiums .. 35.4°3 18 i

Assurance Policies. General Section. Assi Ten JBANCE ] Lperance 'OLICIES. Section. En; 10WMENT 'oucies. No. of Policies. Sum Assured, Annual Premiums. No. of Policies. Sum Assured; Annual Premiums. No. of Policies. Sum Assured. Annual Premiums. By Death Maturity.. Surrender . Lapse Expiry, &c. Reduction 99 2 192 773 6 27.257 200 69,20O 204,525 1.750 9,461 £ s. d. 965 5 5 18 9 6 2,265 o 1 6,227 1 1 1,180 5 6 301 10 1 I 1,000 £ s. d. 28 15 11 £ £ B. d. 5 200 100 13 19 10 4 14 4 2 450 500 12 3 8 15 16 8 082 18 16 7 2 1 4 3 500 1,300 57 4 8 Total .. 1,072 312,393 10,957 11 8 II 2,450 76 I o 1,600 75 18 10