GOVERNMENT INSURANCE.
Annual Report. (FROM OUR PAILLI&MBBTARYREPORTER.) [by telegraph.] Wellington, Last night. . The annual report of the Government Insurance Commissioner, which was laid on tho table to-day, gives the usual clear view of the position. The new business eonhista of 3201 proposals completed, assuring £650,129, with annual premiums of £21,418. This brought the policies in force at the end of the year up to 40,368, securing with bonus additions the sum of £10,639,978 at death or maturity, and annuities immediate or deferred of £27,222 per annum. The year's income was £423,700, being premiums £276,731, and interest £136,955. The claims by death were £92,675, representing 307 policies, and 196 policies which matured amounted to £58,543. The insurance fund increased during the year by £142,276, standing at the end at £3,139,957, aad the total assets amounted to £3,216,129, the details and comparison with 1899 being as follows : —
About the tontine fund it is stated thas the period of the tontine fund No. 1 expired on the 31st December, 1900, and the amount (£16,752) has been dis-1 trihuted among those policy-holders whose policies were in force at that date, the addition to the sums assured being £33,350, in addition to their _ special bonus. The bonus granted during the time the policies were in the tontine class (£130,512) were released, from the tontioe conditions, and may now be dealt with in the same manner as nontontine bonnpes. The progress of the Government Life Insurance Department siuce ths b gaining is given thus : — Void Balance Total r>olieies issued .. 81,373 41."05 40,36s ti i£ Si Sum assured 20,318,825 1P,6">i,750 9,697,035 Reversionary bonus ... 1,596,391 653,452 942,942 Ordinary premiums 618,148 332,891 2?5,256 Extra premiums 13,609 9,012 3,^96 Annuities ... 35 240 8,018 27,221
Per Per cent- cent1900 wee ' IS 99 age £ £ Mort Erases on freehold. .. 1,483,759 48 3 1,333,378 43'4 G secnrirtes .. 7'27,S99 22-6 787.S87 25 7 Loans on policies ... ... 579,434 18'0 559,562 18-3 Local bodies* debentures 135,263 1'2 138,911 4 5 Landed and house property ... 123,0*7 3-8 122,650 4 0 Miscellaneous assots ... 91,522 2'9 S9.433 2'9 Casb. on current account 64,916 2-0 33,o35 l'l Properties acquired by foreclosure 5,539 0-2 6,225 0-2 Totals -. 3,2L6,129 3,0/1,531
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Bibliographic details
Daily Telegraph (Napier), Issue 9296, 25 July 1901, Page 5
Word Count
357GOVERNMENT INSURANCE. Daily Telegraph (Napier), Issue 9296, 25 July 1901, Page 5
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