H.—B

The Balance-sheet. -On the 31st December, L915, the total asset* of the Department amounted to £5,350,538, and were invested as shown in the following statement, which also gives the distribution of the assets at the end of the previous year for purposes of comparison : —

I j . _ ... The staff of the Department has readily responded to the call for recruits in connection with the Expeditionary Forces. The total number of officers who have enlisted is twenty-six, of whom, unfortunately, Private A. F. Robbie has been killed in action, and Lieutenant T. Casserley and Corporal G. A. Ffampson have been severely wounded. •I. H. Richardson, Government Insurance Commissioner.

Rkvenue Account of the Government Life Insurance Department fob the Yeah ended 31st December, 1915. , „ , £ s. d. ; £ s. d. Amount of Funds at Ist January, 1915 5,03-13.888 19 0 : Death claims under polioies, Assurance, Renewal premiums —Assuranoe, An- including bonus additions .. .. 232,497 2 u nuity, and Endowment .. .. 3140,820 910 i Endowment Assurances matured, inNew premiums (inoluding instalments eluding bonus additions .. .. 159,238 10 8 of first year's premiums falling due Endowments matured .. .. 4,101 12 0 in the year) .. .. .. 28,771 7 3 I Premiums returned on endowments .. 220 2 1 Single premiums Assuranco and En- Bonuses surrendered for oash .. 13,102 17 2 dowment .. .. .. 2,186 II 2 j Annuities .. .. .. 18',993 13 a Consideration lor Annuities .. .. 13,588 1.1 i Surrenders .. .. .. 19,817 5 4 Interest .. £250,812 2 2 Loans released by surrender .. 3 8 Lets land and in- Commission, new* .. £21,281 14 11 oome tax .. 20,225 9 4 „ renewal 2,094 3 2 2310,580 12 10 • 28,978 18 1 Expenses of management - Salaries— Head Office ..£17,368 15 1 Branch offices and agents .. .. 8,040 1 7 Extra clerical assistance 825 8 0 Medical fees and expenses .. .. 5,015 5 1 Travelling-expenses .. 590 7 8 Advertising .. ~ 564 18 4 Printing and stationery 1,354 18 8 Bent .. .. a,062 15 4 Postage and telegrams 1,810 0 10 Exchange ~ ~ 74 16 10 Offioe-furniture depreciation .. .. 270 9 6 General expenses .. 2,295 010 Triennial expenses .. 2,053 2 7 Compensation under section 26 of the Appropriation Aot of . 1910 .. .. 2,048 1 2 45,385 10 0 Amount of H'unds, 31st December, 1915 5,089,868 12 8 £5,649,843 13 J £5,649,843 13 5 * Including Agents.' allowauoes,

2

At 31st Deoembor, 1914. Glass of Investment. At 31st December, 1915. A-unt. , . Percentage Amount. o{ TqM I £ 3,219,661 61-1 per cent. Mortgages on freehold property 852,549 16 - 2 „ Loans on policies 665,900 I 12-6 „ j Government securities 191,097 ; 36 „ Local bodies' debentures 134,996 2-6 „ Landed and house property 122,169 J 2-3 „ Miscellaneous assets... 81,619 i 1'6 „ Cash in band and on current account I i £ ... 3,312,413 61-9 per cent. ... 832,301 15-6 ... 685,900 | 1.2-8 .... 204,019 ! 3-8 134,963 2-5 125,108 2-3 55,834 1-1 5,267,991 100-0 per cent. Total ... 5,350,538 j 100 0 per cent.