ft.—B

3

Revenue Account op the Goveenment Life Insurance Department for the Year ended 31st December, 1920. £ s. d. £ s. d. Amount of Funds at Ist January, 1920 5,354,904 4 9 Death claims under polioies, Assurance, Renewal premiums — Assurance, An- including bonus additions .. .. 190,808 17 0 nuity, and Endowment .. .. 389,764 8 1 Endowment Assurances matured, inNew premiums (inoluding instalments eluding bonus additions .. .. 183,739 9 5 of first year's premiums falling due Endowments matured .. .. 2,580 0 0 in the year) .. ... .. 44,398 2 9 Premiums returned on endowments .. 527 14 1 Single premiums—Assurance and En- Bonuses surrendered for cash .. 1,628 16 9 dowment .. .. .. 1,653 12 10 Annuities .. .. .. .. 20,754 19 11 Consideration for Annuities.. .. 24,980 2 6 Surrenders .. ... .. 20,269 2 6 Interest .. £274,577 3 2 Loans released by surrender .. .. 29,732 3 5 Less land and in- Commission, new* .. £32,003 610 come tax .. 4,465 3 5 „ renewal 3,127 12 3 270,111 19 9 35,130 19 1 Expenses of management— Salaries— Head Offioe ..£26,279 18 10 Branoh offioes and agents .. .. 11,150 6 7 Extra clerical assistance 738 0 10 Medical fees and expenses .'. .. 5,871 5 2 Travelling-expenses .. 1,011 5 7 Advertising .. .. 460 0 8 Printing and stationery 2,353 11 9 Rent ... .. 3,710 10 0 Postage and telegrams 2,180 7 9 Exchange .. .. 57 0 6 General expenses .. 2,682 15 4 Triennial oxpenses .. 1,593 5 11 58,088 8 11 Amount of funds, 31st December, 1920 5,542,55119 7 £6,085,812 10 8 £0,085,812 10 8 * Including Agonts' allowances. Balance-sheet of the Government Life Insurance Department on 31st December, 1920. Liabilities. Assets. £ s. d. £sd £sd Total Assurance, Annuity, and En- Loans on policies .. .. 735,739 9 6 dowment Funds (as per Revenue Government securiAccount) .. .. .. 5,542,551 19 7 j; eB Claims admitted, proofs not yet com- Consolidated stock 625,900 0 0 pleted 86,092 12 4 Debentures issued Annuities 465 16 11 under the auCommission .. .. .. 2,563 13 11 thority of the PiMedical fees .. 680 10 6 , nance Act, 1915 40,000 0 0 Premium and other deposits.. .. 5,572 19 6 j<r ew Zealand InSundry accounts owing .. .. 693 12 3 scribed Stock Officers Fidelity Fund .. .. 300 0 0 War Loans ..1,068,900 0 0 Investment Fluctuation Reserve .. 288,686 1 1 New Zealand Inscribed Stock — Finance Act, 1919 50,000 0 0' New Zealand Inscribed Stook — Discharged Soldiers Settlement Loan .. .. 85,000 0 0 1,869,800 0 0 Municipal Corporation debentures .. 115,983 2 6 County securities .. .. .. 6,800 9 7 Harbour Board debentures .. .. 35,200 0 0 Town Board debentures .. .. 28,450 0 0 Road Board debentures .. .. 21,800 0 0 Drainage Board debentures .. j>. 2,007 10 11 Landed and house property .. .. 133,120 13 8 Landed and house property (leasehold) 1,677 18 0 Mortgages on property .. .. 2,750,025 12 1 Properties acquired by foreclosure .. 281 8 3 Overdue premiums on policies in force .. £6,119 4 5 Outstanding premiums due but not overdue.. 40,156 1 9 46,275 6 2 Overdue interest .. £1,214 11 1 Outstanding interest due but not overdue.. 6,351 7 8 Interest aoorued but not due .. .. 65,422 8 10 72,988 7 7 Agents'balances .. .. .. 4,792 .0 7 Cash in hand and on ourrent account.. 102,615 7 6 £5,927,557 5 10 £5,927,557 5 10 Government Life Insurance Department, 2nd May, 1921. J. H. Richardson, Commissioner. Geo. W. Barltrop, Secretary. Audited and found correct. Robert J. Collins, Controller and Auditor-General.