H.—B

The Balance-sheet— -On the 31st December, 1909, the total assets of the Department amounted to £4,536,117, and were invested as shown in the following comparative statement :—

It may be mentioned that " Foreclosed properties " are again nil, and that the total investments now amounting to £4,366,379 show an increase of £89,909. The progress of the Department has been well maintained throughout, the new business having been increased and the position generally being eminently satisfactory, especially in view of the financial stringency that'occurred in the early part of the year under review. An interim actuarial valuation of the liabilities under policies in force shows that the year's profit has been very favourable. J. H. KICHAEDSON, Government Insurance Commissioner.

Bevenue Account of the Government Life Insurance Department for the Year ended 31st December, 1909. £ ' 8. d. I £ s. d. Amount of Funds at 1st January, 1909 4,264,684 19 2 Death claims under policies, Assurance, Renewal premiums - Assurance, An- ' including bonus additions .. .. 135,412 7 5 nuT, and Endowment .. .. 307,542 15 10 Endowment Assurances matured, inNew premiums (including instalments eluding bonus addition* .. .. 109,544 2 0 of first year's premiums falling due , Endowments matured .. .. 1,672 0 0 the vearl •• 22,342 6 6 Premiums returned on endowments .. 13 5 9 Single premiums-Assurance'and En- Bonuses surrendered for cash .. 13,040 15 4 ■fi r . . 1,041 8 8 Annuities .. .. .. .. 15,562 13 8 r>„„o^T»«H n r. for Annuities '! .. 14,306 9 9 Surrenders .. .. .. 38,143 8 3 Oons.derat.onforAnnuit.es.. 201!326 18 4 Loans released by surrender.. .. 20,601 8 8 lnteresi .. 6 0 1 Commission, new* .. £16,505 13 9 Bees "• , renewal 2,356 13 7 • 18,862 7 4 Land and income tax .. .. 12,447 0 9 Expenses of management— Salaries— Head Offioe .. £16,015 2 1 Branch offices and agents .. .. 7,176 0 11 Extra clerioal assistance 186 16 0 Medical fees and expenses .. .. 5,191 7 4 Travelling-expenses .. 720 0 5 Advertising .. .. 949 7 0 Printing and stationery 1,540 IS 1 Rent .. .. 2,739 2 6 Postage and telegrams 1,600 10 9 Exchange .. .. 75 1 4 Office-furniture depreciation .. .. 270 9 3 General expenses .. 2,269 3 5 Triennial expenses .. 2,076 7 4 40,810 6 5 : Amount of Funds, 31st December, 1909 4,405,141 2 9 £4,811,250 18 4 £4,811,250 18 4 * Including Agents' allowances.

2

At 31st December, 1908. I Glass of Investment. , . i Percentage Amount. rf ToU1 Afl 6 gets _ At 31st December, 1909. Percentage Amount. of Total As8( Percentage of Total Assets. £ .2,571,865 58-5 per cent. Mortgages on freehold property 730,865 16-6 „ Loans on policies 668,013 : 15-2 „ Government securities 179,509 4-1 „ Local bodies'debentures 124,325 2-8 „ Landed and house property 107,983 24 ,, i Miscellaneous assets 17,288 0-4 ,, I Cash on current account £ 2,620,595 57-8 per ci 764,279 16-8 668,030 14-7 179,303 4-0 132,549 2-9 109,635 2-4 61,726 14 57-8 per cent. 16-8 14-7 4-0 2-9 24 1-4 „ £4,399,848 100-0 per cent. , i i_ £4,399,848 100-0 per cent. Total £4,536,117 100-0 per c< £4,536,117 100-0 per cent.