GOVERNMENT LIFE INSURANCE DEPARTMENT

Nelson Evening Mail, Volume LXI, 6 August 1928, Page 7

GOVERNMENT LIFE INSURANCE DEPARTMENT

The animal report* of the Governfnenl Insurance Commissioner (Mr A. E. Allison) discloses a position which must he .very gratifying to policyholders. The bevy, business effected during the 1 year c-'djjipfisfcs i ' : J»;,ss£> ’ polices tc/b ajsiiunuires totaling .GL,791,84-5 firinging- the totdl business now in force, including bonuses, to well over £21,000,000. Notwithstanding that a very stringent valuation basis has been, adopted in order to keep the Department in the safest possible posh tion consistent with the interest of present policyholders it has been found possible to divide by way of bonus a record surplus. A cash surplus of £190,500 lias 'been allotted, producing reversionary bonuses amounting to £305,484. As a result of economical management and'close attention to the, investment of the Department’s funds, there has been a materia! reduction in the expense ratio and a. satisfactory vale of interest earned. An indication of what has been, clone by the Department in affording citizens opportunities for thrift and for making provision for dependents is the fact that since tlnviiiccption of the Office, over £10,000,OOtThas been paid in. maturity and dealh claims. The most important event in the year’s activities lias been the inaugura-j tion of annual bonuses in lieu of the triennial division heretofore in operation. The Deportment's assets now amount to- over £7,500,000 which are wholly invested in the Dominion, thus assisting in its development to a mater? ial extent.