3

H.—lB

Eevenue Account of the Goveenment Life Insueance Dei>aetment for the Year ended 31st December, 1890.

£ s. d. £ s. d. £ s. d. Amount of Funds at 31st December, 1889 1,582,447 17 11 Death claims under policies, Renewal premiums — Assurance, An- Assurance, including bonus nuity, and Endowment .. .. 195,213 9 1 additions .. .. .. 59,776 7 0 New premiums on 2,761 policies, assur- Endowment Assurances maing £684,242, and yielding an annual tured, including bonus adrevenue of £20,489 Is. Id. (including ditions .. .. .. 9,256 12 0 instalments of first year's premium Endowments matured .. .. 1,577 4 8 falling due in the year) .. .. 19,931 15 2 Premiums returned on EnSingle premiums—Assurance and En- dowments .. .. .. 70 1 6 dowment .. .. .. .. 1,393 8 6 Bonuses surrendered for cash .. 627 0 9 Consideration for annuities .. .. 7,071 311 Annuities .. .. .. 4,775 810 Interest .. .. .. .. 89,795 18 2 Surrenders .. .. .. 10,006 3 0 Fees .. .. .. .. 19 15 5 Loans released by surrender .. 17,654 19 11 Commission, new.. .. 9,680 9 6 renewal .. 1,422 17 11 ■ 11,103 7 5 Property-tax .. .. .. 6,484 17 3 Losses on properties foreclosed .. .. .. .. 327 2 9 Expenses of management— Salaries—Head Office .. 10,81113 1 „ Branch Offices and Agents.. 5,244 1 3 Extra clerical assistance 1,513 0 11 Medical fees .. .. 3,901 5 6 Travelling-expenses .. 3,202 7 1 Advertising .. .. 1,142 3 9 Printing and stationery .. 1,380 19 10 Rent .. .. .. 1,062 11 11 Postage .. .. 2,005 4 2 Telegrams .. .. 662 3 1 Exchange .. .. 233 2 7 Office-furniture depreciation .. .. ' .. 419 410 General expenses .. 1,678 17 9 Quinquennial expenses .. 764 2 0 ■ 34,020 17 9 Reserve for possible depreciation in freehold and mortgage securities .. .. 25,000 0 0 Amount of funds at 31st December, 1890 1,715,193 5 9 £1,895,873 8 2 £1,895,873 8 2

Balance-sheet of the Goveenment Life Insubanob Department on 31st December, 1890. Liabilities. £ s. d. Assets. £ s. d. Total Assurance, Annuity, and Endow- Loans on policies .. .. .. 266,497 16 11 ment Funds (asper Revenue Account) 1,715,193 5 9 Government securities .. .. .. 735,100 0 0 Claims admitted, proofs not yet com- Railway debentures (guaranteed by Gopleted .. .. .. 11,135 10 2 vernment) .. .. .. ' .. 79,850 0 0 Annuities .. .. .. 37 1 0 Municipal Corporation debentures .. 85,572 0 0 Commission .. .. 1,014 2 7 County securities .. .. .. 1,000 0 0 Medical fees .. .. .. 735 0 0 Otago University debentures .. .. 15,000 0 0 Premium deposits .. .. .. 1,112 010 Harbour Board debentures .. .. 10,000 0 0 Valuation-fee deposits .. .. 9 9 0 River Board debentures .. .. 935 0 0 Mortgage-moneys in suspense.. .. 58 0 0 Landed and house property .. .. 96,176 911 Tontine Savings Fund .. .. 1,063 15 2 Office furniture (Head Office and Agencies) 3,640 810 Reserve for possible depreciation in free- Mortgages on property .. .. ..357,606 19 2 hold and mortgage securities .. 25,000 0 0 Properties acquired by foreclosure .. 23,490 1 5 Overdue premiums on policies in force .. .. £6,545 11 7 Outstanding premiums due in December, 1890 ..22,306 3 7 ■ 28,851 15 2 Interest outstanding .. 1,693 5 1 Interest accrued but not due 19,544 18 3 ■ ■ 21,238 3 & Agents'balances .. .. .. 2,533 9 3 Sundry accounts owing .. .. 1,057 17 '2 Cash on current account .. .. 26,808 3 4 £1,755,358 4 6 £1,755,358 4 6 Government Insurance Office, 16th March, 1891. JOSBPHUS H. EICHABDSON, Commissioner. W. 33. HUDSON, Secretary. Audited and found correct. JAMES EDWAED FITZGEEALB, Controller and Auditor-General.