H.—6A,

1942. NEW ZEALAND.

ACCIDENT INSURANCE BRANCH OF THE STATE FIRE INSURANCE OFFICE (ANNUAL REPORT ON THE) FOR THE YEAR ENDED 31st DECEMBER, 1941.

Presented to both Houses of the General Assembly pursuant fo Section 22 of the Government Accident Insurance Act, 1908.

State Fire Insurance Office, Wellington, 30tli March, 194-2. I have the honour to submit the forty-first annual report of the Government Accident Insurance Office for the year ended 31st December, 1941, together with the Revenue Account and Balance-sheet. The following comparison with the previous two years shows the position briefly . 1939. 1940. 1941. T £ £ £ £ £ £ Income — Premiums from all classes of accident insurance 261,123 iq'wi t x, i. 20,iy0 zujODI Interest 281,321 279,956 288,546 Outgo — , . Bonus and sums accrued under profit-sharing nmir 68 !! !! •• ■ • 167,672 138' 000 134',208 Working-expenses (exclusive of income-tax) .. 42,164 42,185 Carried to reserve for unearned premiums .. 25,053 W Income-tax .. •• •• •• iq'arq 19 784 National and social security tax .. •• id.UM Loss on realization of securities .. -• 11-249,266 267,413 Surplus, apportioned as follows Investment Fluctuation Reserve .. •• 10,000 Reinsurance Reserve > " 21 " 133 Reserve Bund 2Mgg > 3 0 690 21133 Total .. •• 281,32 1 279,956 288,546 Reserves and funds as at 31st December 524,275 554,966 079,925 Ratio of claims (all classes of business) to premium Per Cent. income .. • • • • Ratio of working-expenses (exclusive of income- Ifi 26 15-79 tax) to premium income .. •• •• _ fifi Ratio of underwriting surplus to premium income J. H. Jerkam, General Manager.