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1895. NEW ZEALAND.

ANNUAL REPORT OF THE GOVERNMENT INSURANCE COMMISSIONER FOR THE YEAR ENDED 31st DECEMBER, 1894.

Presented to both Houses of the General Assembly pursuant to the provisions of the Acts relating to Government Life Insurance.

Government Insurance Office, Wellington, 23rd May, 1895. I have the honour to submit herewith the accounts and tables of business of the department for the year 1894, an d to report thereon in compliance with the law. New Business. —During the year 4,440 proposals, for a total amount of were received. Of the whole of the proposals submitted, 457 were deferred or declined. Of every 100 proposals received, 83 were accepted at ordinary rates of premium, 7 were loaded— i.e., accepted with an extra premium—and 10 were deferred or declined. From these figures it will foe manifest that due caution has as usual been exercised in the acceptance of lives. Of every 100 policies completed, 94 were at ordinary rates, and 6 with an extra premium, or the equivalent contingent debt. There were also granted 30 annuities, securing to their holders per annum. The following is a condensed summary of the new policies issued by the department during the year: —

In the General Section the policies issued were 2,699, assuring and in the Temperance Section 602 policies, assuring The most noteworthy characteristic of the year's new business is the continued increase in the demand for endowment assurances. This increasing willingness on the part of the public to make a provision for old age cannot but be regarded as satisfactory, especially as the majority of these endowments mature at advanced ages. The following table will show how the 1,801 policies of this class issued during the year mature, and it will be seen that short-term endowments form a very small proportion of the whole : —

No. Sum assured. Annual Premium. vVhole-life and term assurances Endowment-assurances Children's endowments Vnnuity-assurances 1.397 1,801 £"364,704 355.321 3.588 5,400* /"9.H9 13,296 149 286 30 43 \nnuities 3.271 30 £"1,165 P er annum £- 22 ,88o 20 + Total policies ... £"22,900 3.301

Maturing in No. of Policies. 35 years and over 30-34 years 25-29 „ 20-24 a 15-19 „ Under 15 „ 182 535 603 340 94 47 Total ... i,8oi. * And deferred annuities securin; '1,977 per annum. t And single premiums amounting to £11,780.