GOVERNMENT INSURANCE DEPARTMENT.

Otago Daily Times, Issue 12403, 12 July 1902, Page 8

GOVERNMENT INSURANCE DEPARTMENT.

♦ ' , (F*9u Our Owx CoebesiohSixt.) WELLINGTON, July 11. The annual report of the Government Insurance Commissioner for tho year ended December 31, 1901, states that during the year 4414 proposals were 'dealt with for the .assurance of £878,897, of which 3196 proposals for life insurance assuring the sum of £630,316 were completed. The total inconfe wps £444,000, being £14,811 in excess of the previous year. 33b policies representing £1ffi,471 became claims during the year through death, 157 endowment representing £42,389 1 matured. Tho total amount paid by the department since its inception in 1870 was £2,165,305. Tho assurance and annuity funds on 31st December last amounted to* £3,285,416, being an increase during the year of £145,459. In til? accident insurance branch the premiums amounted to £11,856, of which £3780 wis reserved on account of unearned premiums, file compensation paid amounted, to £2428.. After meeting expenses there .'emained a balance of £305 to be carried forward, and considering that iu addition to ordinary expenses and claims, the whole of the initial expenses of establishing the branch had been paid out of the premium income of seven months, and that ample reserves had been made for outstanding liabilities, tho result, remarked the Commissioner, must be regarded as highly satisfactory and enoouraging. j