H—B

Balance-sheet or the Government Life Insurance Department on 31st December, 1948 Liabilities ; Asset* £ Total assurance, annuity, and endowment funds {as per £ I Loans on policies .. .. .. .. .. 761,193 Revenue Account) .. .. .. .. .. 15,661,997 ! New Zealand Government securities .. .. .. 7,645,815 Claims admitted, proofs not yet completed .. 89,934 j Loans to local bodies .. .. .. .. .. 2,704,026 Annuities .. .. .. .. .. .. 362 j Landed and house property .. .. .. .. 490,610 Medical fees . . .. .. .. .. .. 279 j Mortgages on property . . .. .. .. 4,322,578 Premium and otlier deposits ........ 43,739 £ Sundry creditors .. .. .. .. .. 11,331 Overdue premiums on policies in force .. .. 4,352 Accident and Fidelity Fund .. .. .. .. 5,000 Outstanding premiums due but not overdue .. 82,531 Provision for income-tax .. .. .. .. 100,000 86,883 Investment Reserve Account* .. .. .. .. 400,000 Overdue interest .. .. .. .. 516 £ Outstanding interest due but not overdue . . 5,465 Sinking funds on local-body loans .. .. 3,994 Interest accrued but not due .. .. .. 151,215 Interest accrued thereon .. .. .. 50 157,196 4,044 Sundry debtors .. .. .. .. .. 7,946 Income-tax paid in advance .. .. .. .. 50,000 Cash in hand and on current account .. .. ~ 90,439 £16,316,686 j £16,316,686 ■ ■ ■' I r— l * Decreased owing to adjustment of value of investments held in London consequent on exchange reverting to parity with sterling— book value of these investments written up in 1945 to equivalent of New Zealand currency. H. L. Ryan, Commissioner. W. K. Watson, Secretary. Government Life Insurance Department, 9th March, 1949. 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. P. Rutherford, Controller and Auditor-General.

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