H.—6a
Revenue Account of the Accident Branch of the State Fire Insurance Office for the Year ended 31st December, 1941. £ s. d. £ s. d. Premiums after deduction of reinsurances .. 268,774 16 5 Bonus and sums accrued under profit-sharing £ ». d. schemes .. .. .. .. .. 6,919 18 11 Interest .. .. .. 19,771 11 2 Claims .. .. .. .. .. 134,207 15 1 Less— £ Income-tax .. .. .. .. 53,704 18 9 Income-tax .. 11,382 National and social security tax .. .. 10,313 8 0 National and social Commission .. .. .. .. 9,492 7 9 security tax .. 2,471 Salaries .. .. .. .. .. 23,600 10 0 13,853 0 0] Contribution to Public Service Superannuation 5,918 11 2 Fund .. .. .. .. .. 211 10 0 Expenses of management .. .. .. 9,137 7 4 Further appropriation to reserve for unearned premiums .. .. .. .. 3,826 0 3 Loss on realization of securities .. .. 2,146 11 0 253,560 7 1 Amount of Accident Funds, 31st December, 1941 21,133 0 6 £274,693 7 7 £274,693 7 7
Balance-sheet of the Accident Branch of the State Fire Insurance Office as on the 31st December, 1941. Liabilities. Assets, £ S. d. £ 8 . d. Accident Funds, as per Revenue Account .. 21,133 0 6 Government securities .. .. .. 312,406 0 0 Outstanding accident claims .. .. .. 106,464 0 0 Local-authority securities .. .. .. 194,699 611 Government taxes .. .. .. 129,570 10 9 Rural Advances bonds .. .. .. 0 0 Commission .. .. .. .. 1,018 19 11 Fixed deposits and at short call .. .. 97,620 0 0 Premiums and other deposits .. .. . . 1,363 19 6 Interest accrued but not due .. .. 4,908 9 2 Sundry creditors .. .. .. .. 8,895 8 8 Agents'balances .. .. .. .. 4,287 410 Reinsurance premiums due .. .. .. 392 14 9 Sundry debtors, including Motor-vehicles InsurOfficers' Fidelity Fund .. .. .. 500 0 0 ance (Third-party Risks) Act Pool .. .. 152,994 7 6 Reserve for unearned premiums .. .. 134,387 8 3 Cash in hand on current account .. .. 55,989 18 9 Investment Fluctuation Reserve .. . . 70,000 0 0 Reinsurance Reserve .. .. .. 56,000 0 0 Bad Debts Reserve .. .. .. ~ 1, 000 0 0 Reserve Fund constituted under section 6 of the Government Accident Insurance Amendment Act, 1924 .. .. .. .. 296,904 4 10 £827,630 7 2 £827,630 7 2 23rd June, 1942. J. H. Jerram, General Manager. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— C. G. Collins, Controller and Auditor-General. Approximate Cost of Paper.—Preparation, not given; printing (1,792 copies), £4 10s.
By Authority: E. V. Paul, Government Printer, Wellington.—l 942.
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