GOVERNMENT LIFE INSURANCE. (BY TELEGRAPH.) Wellington, October 19.
The following cable was received this evening by the Government by the AgentGeneral : "The valuation of tho Government Insurance Office by the three London actuaries is now completed. Tho cash profits amount to L239.000. The actuaries recommend that L200.000 bo divided among policy holders, and state 'hat notwithstanding that this valuation has been more severe than last the position of the department ia highly satisfactory. The L39.00O forma an additional reserve for future bonuses and contiii" gencies. The last valuation was made on the assumed rate of interest of four and .1 half per cent, while the present one was bised on four per cent only, which means an additional reserve of many thousands of pounds. The devisable surplus of L200,000 will bo immediately apportioned amongst policy holders, hnd it is expected to secure reversionary additions to policies amounting to ne-irly half a million.
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Bibliographic details
North Otago Times, Volume XXXV, Issue 7271, 20 October 1891, Page 3
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152GOVERNMENT LIFE INSURANCE. (BY TELEGRAPH.) Wellington, October 19. North Otago Times, Volume XXXV, Issue 7271, 20 October 1891, Page 3
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