STATE ENTERPRISE

Evening Post, Volume CIV, Issue 22, 26 July 1927, Page 6

STATE ENTERPRISE

GOVERNMENT LIFE INSURANCE DEPARTMENT.

The Government Life Insurance Department is recognised inside as well us outside the Dominion as an outstanding exr ample of successful State enterprise. The result of the triennial actuarial examination which has just been completed i 3 a further proof that the Department, which was inaugurated for the benefit of the people, is being carefully and satisfactorily managed. After further strengthening the reserve, tho profits for the triennium ended. 31st December last amounted to £446,792. Of this sum £1G,429 lias been carried forward, and the balance of £430,363 line been divided amongst the participating policy-holders. This amount represents an increase of £112,800 over the preceding triennium, and is practically double the amount (£217,706) which was available for distribution as at tho 31sfc December, 1920. The sum assured in force (excluding bonuses) has increased from £14,924,147 as at 31st December, 1920, to £18,743,397. These results read in conjunction with the valuation basis, which is probably stronger than that of any Australasian life office, cannot fail to be gratifying to policy-hold-ers. It is understood that in future these distributions arc likely to be made annually.