H.—B

Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1936. £ s. d. £ s. d. Amount of funds at Ist January, 1936.. 9,578,672 11 7 Death claims under assurance policies, Renewal premiums—Assurance, annu- including bonus additions .. 202,757 15 0 ity, and endowment, less reinsurance Endowment assurances matured, includpremiums .. .. .. 599,322 18 2 ing bonus additions .. .. 320,651 16 0 New premiums (including instalments Endowments matured .. .. 10,853 17 0 of first year's premiums falling due Premiums returned on endowments .. 294 14 5 in the year) less reinsurance premiums 57,869 9 10 Bonuses surrendered for cash .. 9,124 18 4 Single premiums—Assurance and en- Annuities .. .. .. 31,489 6 1 dowment .. .. .. 62,004 5 5 Surrenders .. .. .. 40,689 15 8 Consideration for annuities .. .. 56,502 2 4 Loans released by surrender.. .. 85,431 7 6 Interest, rent, and other £ s. d. £ s. d. income .. 434,941 15 4 Commission, new* .. 45,916 5 2 Less land and in- „ renewal 4,728 19 8 come tax, £24,645 50,645 4 10 7s. 5d.; property Contribution to Public Service Superexpenses, £1,295 animation Eund .. .. 727 12 2 Bs. 7d. .. .. 25,940 16 0 £ s. d. — 409,000 19 4 Expenses of management — Salaries .. .. 39,414 18 4 Extra clerical assistance .. .. 526 9 6 Medical fees and expenses .. .. 2,061 13 6 Travelling-expenses 676 8 0 Advertising .. 802 8 0 Printing and stationery .. .. 1,593 16 1 Rent .. .. 4,659 15 1 Postage and telegrams .. .. 1,802 18 11 Exchange.. .. 28 8 11 Audit fees .. 325 0 0 General expenses .. 5,421 12 2 57,313 8 6 Property depreciation .. .. 1,081 13 1 Amount of funds, 31st December, 1936 9,952,310 18 1 £10,763,372 6 8 £10,763,372 6 8 * Including agents' allowances. Balance-sheet of the Government Life Insurance Department on 31st December, 1936. Liabilities. £ s. d. Assets. £ s. d. Total assurance, annuity, and en- Loans on policies .. .. .. 1,235,647 13 9 dowment funds (as per Revenue New Zealand Government securities .. 3,403,545 0 0 Account) .. .. .. 9,952,310 18 1 Loans to local bodies .. .. 1,187,289 13 2 Claims admitted, proofs not yet Landed and house property .. 242,092 3 7 completed .. .. .. 43,781 9 6 Landed and house property (leasehold) 1,373 4 6 Annuities .. .. .. 590 8 0 Mortgages on property .. .. 3,901,032 4 6 Medical fees .. .. .. 273 0 0 Properties acquired by foreclosure .. 35,786 2 9 Premium and other deposits .. 12,480 2 7 Overdue premiums on £ s. d. Sundry creditors .. .. .. 9,001 13 9 policies in force .. 4,210 10 2 Accident and Fidelity Fund .. 5,000 0 0 Outstanding premiums Investment Fluctuation Reserve .. 439,392 14 6 due but not overdue 53,501 19 10 Sinking funds on local £ s. d. 57,712 10 0 body loans .. 11,041 18 8 Overdue interest .. 28,794 7 9 Interest accrued there- Outstanding interest on .. .. 157 14 10 due but not overdue 13,897 10 4 11,199 13 6 Interest accrued but not due .. .. 94,809 12 5 137,501 10 6 Sundry debtors .. .. .. 1,483 15 4 Income-tax paid in advance.. .. 20,000 0 0 Cash in hand and on current account . . 250,566 1 10 £10,474,029 19 11 £10,474,029 19 11 W. E. Arnold, Commissioner. J. W. Macdonald, Secretary. Government Life Insurance Department. The Audit Office, having examined the Revenue Account and Balance-sheet, and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. J. H. Fowler, Controller and Auditor-General. 2—H. 8.

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