GOVERNMENT INSURANCE.

Otago Witness, Issue 3034, 8 May 1912, Page 3

GOVERNMENT INSURANCE.

ALLOCATION OF BONUSES. WELLINGTON, May 1. The bonus certificates of the Government Life Insurance Department were posted yesterday, so that iSie great majority of policy holders in New Zealand have leceived them to-day. The lecent valuation discloses a very prosperous state of affaire, and the rate of the bonuses has been increased all round compared with the previous years. The number of policies was 49,376, while the sums assured amounted to £12,683,000, made up of £11,514,000 for original sums assured and £1,169,000 for bonus additions. The surplus (after specially sfcrengtheming the valuation basis by £101,500 and the investment fluctuation reserve by £30,000) amounted to £216,000. The individual bonuses have been allotted on the sum assured and the bonuses in force, and range from 21s to 31s per cent, per annum on the original sum assaired, according to the amount of the previous bonuses. The whole of the reversionary bonuses thus allotted amounted to £333,994. Since the inception of the department in 1870 £1,600,000 has been distributed as cash profits amongst policy holders, making additions to the policies amounting to £2,900,000.