GOVERNMENT LIFE INSURANCE.

Otago Daily Times, Issue 10420, 24 July 1895, Page 3

GOVERNMENT LIFE INSURANCE.

(Fnoii Our Own Coukisspondknt.)

Wellington, July 23.-* Tho annual report of the Government Insurance' Commissioner shows that during the year there were 4440 proposals for a total amount of £995,159. Of tho whole of the proposals 457 were deferred or decliued, while 83 out ot every ICO were accepted at the ordinary rates. The total policies issued numbered 3301, the sum assured being £729.013 and the annual premiums ,£22,900. The most noticeable feature of the' year's business ib the increase of endowment assurances. The total premiums received amounted ffl to, £219,307, aud .the interest earned was £115,270| being £7172 in excess of tho previous yt-ar. The total revenue showed an incrwase of £7794, and amounted to £369,478. Death claims amounting to £88,683 aroi>e under 278 policin*, and matured endowments amounted to £&5,285 Since its foundation the department has paid in claims considerably over a million starling. The expenses ot management, including land and income tax, anioaotsd t0.£55,722. The accumulated funds have increased by £135,649, and amounted at tha end of .this jc.tr to £2,264,239. The department has now beßn iv existence a quarter of a century. The report states that the uew business h&s almost reached the high figure of 1893, while the progress of the business generally has not been exceeded by that of any other colonial office.