LIFE INSURANCE
STATE OFFICE REPORT
"The results of the Department's trading during the past year may bo viewed with every satisfaction," stated the Government Life Insurance Commissioner (Mr. W. B. Arnold) in his annual report, presented to Parliament yesterday.
New business for the year amounted to 3527 policies, assuring the sum of £1,295,656, the premiums thereon being £31,579 per annum. Forty-five annuities wcro also granted, tho purchase-money being £30,142. The total business in foreo at tho end of the year (including immediate and deferred annuities for £48,987 per annum) comprised 67,567 policies, boaring an annual premium income of £625,905. Tho total Bum assured was £20,769,292, to which reversionary bonuses amounting to £2,805,177 had been added.
Tho total income amounted to £1,062,705, jnade up as follows: Premium income, £649,082; interest income (net), £383,481; annuity-purchase money, £30,142. The total for the year exceeded that for tho previous year by £22,284.
During tho year 1517 policies became claims by the death of tho policyholders and by maturity, the payment involved being £501,989. Tho total amount paid in claims since the inception of the Department amounts to £13,744,453.
Assurance, annuity, and endowment funds, apart from sjjecial reserves of £396,121, now stand at £8,965,061, an increase of £220,512 over the previous year. . . •
On December 31,1933, the total assets of tho Department amounted to £9,442,313.
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Bibliographic details
Evening Post, Volume CXVIII, Issue 34, 9 August 1934, Page 15
Word Count
219LIFE INSURANCE Evening Post, Volume CXVIII, Issue 34, 9 August 1934, Page 15
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