Article image
Article image
This article displays in one automatically-generated column. View the full page to see article in its original form.


The accounts of the Government Insurance Department for the year 1888 have now been made up, and, in accordance with statutory requirements, havo been lodged with tho Treasury. The result of the year's operations has been most satisfactory. The new business shows an issue of 2,957 policies during the year, insuring an amount of L755,G92. The total number of policies in force at the end of the year numbered 20,168, insuring a sum of L 7,760,252. The premium incomo of the year amounted to L 208,740, while in the previous year it was only L 201.904. The interest income amounted to L 73.421, as against L6G,380 in the previous year. Tho claims paid represented L 64.435, in addition to endowment insurances of L 6.612, and matured endowments of LI, 193. The gross funds of the institution have increased from L 1,328,493, as at the end of 1887, to L 1,452,478, as at the end of 1888. The total liabilities at the end of the year amounted to L 1,482,337, including tho funds to credit. The balancesheet of course shows conespondiug assots. Tho amount invested on mortgage has increased largely during tho year—from L 266.498 to L 304.299 and this fact accounts for the average rate of interest on the accrued funds beingseveral shillings per cent, better than in the previous year. The total increase of funds is L123,9S. r ». The expenses of management have decreased in proportion to premium income. These figures disclosea condition of affairs gratifying to the colonyat large, as well as to those inaureo l in the institution, and highly creditablo to all the officers concerned in the management. In every test by which an insurance company can be judged, the Government Department shows substantial progress. The new business has increased ; the lapses and surrenders have diminished (the former very largely); the ratio of expenses of management has decreased ; the rate of interest shows a substantial increase ; and the average amount of policies issued is greater than lias been the rule for a considerable time past. The discontinuances are less than in any year since the office was established.—' Evening Post.'

This article text was automatically generated and may include errors. View the full page to see article in its original form.
Permanent link to this item

Bibliographic details


Word Count


  1. New formats

    Papers Past now contains more than just newspapers. Use these links to navigate to other kinds of materials.

  2. Hierarchy

    These links will always show you how deep you are in the collection. Click them to get a broader view of the items you're currently viewing.

  3. Search

    Enter names, places, or other keywords that you're curious about here. We'll look for them in the fulltext of millions of articles.

  4. Search

    Browsed to an interesting page? Click here to search within the item you're currently viewing, or start a new search.

  5. Search facets

    Use these buttons to limit your searches to particular dates, titles, and more.

  6. View selection

    Switch between images of the original document and text transcriptions and outlines you can cut and paste.

  7. Tools

    Print, save, zoom in and more.

  8. Explore

    If you'd rather just browse through documents, click here to find titles and issues from particular dates and geographic regions.

  9. Need more help?

    The "Help" link will show you different tips for each page on the site, so click here often as you explore the site.