H. -8a

1920. NE W ZEAL A N D.

ACCIDENT INSURANCE BRANCH OF THE GOVERNMENT INSURANCE DEPARTMENT (ANNUAL REPORT ON THE) FOR THE YEAR ENDED 31st DECEMBER, 1919.

Laid before Parliament pursuant to Section 22 of the Government Accident Insurance Act, 1908.

Government Insurance Office, Wellington. 28th May, 1920. I have the honour to submit my report on the business of the Accident Insurance Branch of tho Department for the year ended 31st December, 1919, together with the Revenue Account and Balance-sheet. The gross premium income amounted to £25,114, anil after deducting reinsurances, to £25,28;"), a record amount, with the exception of one year in which there was a large and temporary influx of mining business. The claims were £13,150, an increase of £2,350 as compared with the previous year. The gross return from interest was £5,754, as compared with £5,316 in 1918. The sum of £1,631 was paid in taxes. The ratio of management expenses to premiums was 27'!) per cent., and to total income 24 per cent., these figures being lower than those of the years preceding the war, and therefore evidencing economy of management. The balance-sheet shows an increase of £33,500 in Wat- Loan stock, and the total holding bv the Accident Branch is now £59,500, in addition to £10,00(1 debentures under the Finance Act, 1915. the two together representing 56 per cent, of the total invested funds. As indicated in previous reports, the accident experience in New Zealand has been carefully tabulated by the Department's Actuary since the coming into operation of the Act. The accumulated experience has enabled the rates to be gradually placed on a scientific basis, with the result that on the whole they are below those charged in the various Australian States, J. H. Richardson, Government Insurance Commissioner.