H—B

FOURTH SCHEDULE— continued Consolidated Revenue Account of the Government Insurance Department for the Period commencing Ist January, 1945, AND ENDING 31ST DECEMBER, 1947 £ £ Amount of funds at Ist January, 1945 .. .. .. 13,129,718 Death claims under assurance policies, including bonus Renewal premiums: Assurance, annuity, and endowment, additions .. .. .. .. .. .. 842, 427 less reinsurance premiums .. .. .. .. 2,785,691 Endowment assurances matured, including bonus additions 1,305,532 New premiums (including instalments of first year's premiums Endowments matured .. .. .. .. 32,985 falling due in the year), less reinsurance premiums .. 392, 124 Premiums returned on endowments .. . . . . 1,698 Single premiums : Assurance and endowment .. .. 256, 680 Bonuses surrendered for cash .. .. .. . . 6,506 Consideration for annuities .. .. .. .. 117,339 Annuities .. .. .. .. .. .. 116,610 £ Surrenders .. .. .. .. .. . . 150,091 Interest, rent, and other income .. 1,673,308 Loans released by surrender .. .. .. .. 77,154 Less property expenses .. .. 27,829 Commission— £ 1,645,479 New .. .. .. .. .. 270,851 Renewal .. .. .. .. .. 25,064 295,915 Expenses of management .. .. .. . . 293, 366 Contribution to Public Service Superannuation Fund .. 2,359 Agents' retiring-allowances .. .. . . .. 6,850 Land and income-tax .. .. 232,742 Property depreciation .. .. .. . . 19,832 Reserve for income-tax .. .. .. .. 90,000 Transfer to Investment Reserve .. .. .. 17,401 Amount of funds at 31st December, 1947 .. .. 14,835,563 £18,327,031 • £18,327,031 Valuation Balance-sheet of the Government Insurance Department as at 31st December, 1947 Dr. £ Cr. £ Net value of liabilities (as per valuation summary) .. 14,594,071 Accumulated funds (as per Consolidated Revenue Account) 14,835,563 Surplus ~ .. .. .. 241,492 £14,835,563 £14,835,563

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