H.—B

3

Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1910. £ s. d. £ a. d Amount of Funds at Ist January, 1910 4,105.141 2 9 Deatb claims under polioies, Assurance, Renewal premiums — Assurance, An- including bonus additions.. .. 154,014 10 4 nuity, and Endowment .. .. 312,863 12 6 Endowment Assurances matured, inNew premiums (including instalments eluding bonus additions .. 113,246 6 0 of first year's premiums falling due Endowments matured .. .. 1,675 0 0 in the year) .. .. .. 23,346 8 6 Premiums returned on endowments .. 25 7 6 Single premiums—Assurance and En- B muses surrendered for oasli .. 2,021 12 2 dowment .. 2,277 7 7 Annuities .. .. .. .. 15,716 14 9 Consideration for Annuities .. .. 16,109 13 3 Surrenders .. .. .. 32,092 3 2 Interest .. .. .. 206,552 3 11 Loans released by surrender.. .. 21,235 17 8 Fees .. .. .. 13 1 Commission, new* .. £16,836 2 6 renewal 2,529 1 7 — 19,365 4 1 Land and income tax .. .. 12,661 14 1 Expenses of management — Salaries— Head Office ..£16,22119 0 Branch offices and agents .. .. 7,329 12 7 Extra clerical assistance 196 7 4 Medical fees and expenses .. .. 4,861 5 9 Travelling-expenses .. 623 10 1 Advertising .. .. 915 7 0 Printing and stationery 1,515 17 0 Rent .. .. 2,813 10 0 Postage and telegrams 1,521 16 4 Exchange .. .. 72 16 11 Office-furniture depreciation .. .. 270 9 3 General expenses .. 2.557 18 11 Triennial expenses .. 606 14 6 39,507 4 8 Amount of Funds, 31st December, 1910 4,554,729 17 2 81,966,39111 7 U, 966,291 11 7 * Including Agents' allowauces. Balance-sheet of tin- Government Life Insurance Department on Hist December. 1910. Liabilities. \>si t-. £ s. d. £ s. d. £ s. d. Total Assurance, Annuity, and En- Loans on policies .. .. 775,189 11 11 dowment Funds (as per Revenue Government securities— Aocount) .. .. .. 4,564,729 17 2 I Consolidated stock .. 625,900 0 0 Claims admitted, proofs not yet com- Debentures issued pleted .. .. .. 35,888 9 0 under the District Annuities .. .. .. .. 40 19 3 Railways PurchasCommission .. .. 287 2 10 j ing Act 1885 ExMedioal fees .. .. .. 399 0 0 tension and AmendPremium and other deposits.. 0,057 17 2 ment Act, 1886 .. 40,000 0 (i Fire-insurance moneys in suspense 075 0 0 1 Debentures issued Tontine Savings Fund No. 2 .. 18,561 13 9 I under the ImmiInvestment Fluctuation Reserve .. 53,663 ('. 1 gration and Public Works Act, 1870 2,149 « 0 668,049 5 0 Municipal Corporation debentures .. 123,296 17 6 County securities .. .. .. 189 5 9 Harbour Board debentures .. .. 39,000 0 0 Town Board debentures .. .. 5,950 0 0 ! Landed and house property .. .. 135,333 14 10 Office furniture (Head Office and agencies) .. .. .. 1,352 0 6 Mortgages on property .. .. 2,723,876 3 7 Properties acquired by foreclosure Nil. Overdue premiums on policies in force .. £5,705 8 8 i Outstanding premiums due hut not overdue.. 37,594 9 5 48,299 18 1 Overdue interest .. CI. 410 1 8 Outstanding interest due but not overdue.. 7,130 8 6 Interest accrued but not due .. .. 54,819 18 11 03,300 9 1 Ageuts'balances .. .. .. 3,561 14 8 Sundry accounts owing .. .. 219 3 Cash iii hand and on current aocount.. 117,885 19 7 84,700,348 5 9 I £4,700,348 5 9 Government Life Insuranoe Department, 13tb February, 1911. ■I. H. Richardson, Commissioner. W. B. Hudson, Audited and found correct. Secretary. Robert J. Collins, Controller end Auditor-General.