H.—B

Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1926. £ s. d. £ s . d. Amount of Funds at Ist January, 1926 6,731,117 18 10 Death claims under assurance policies, Renewal premiums — Assurance, An- including bonus additions .. 179,659 11 0 nuity, and Endowment .. .. 501,205 10 9 Endowment Assurances matured, inNew premiums (including instalments eluding bonus additions .. .. 230,322 11 6 of iirst year's premiums falling due ISndowmouts matured .. .. 6,944 14 0 in the year) .. .. .. 59,813 3 4 Premiums returned on endowments .. 328 12 4 Single premiums—Assurance and En- Bonuses surrendered for cash .. 3,813 12 5 dowment .. .. .. 5,420 16 6 Annuities .. .. .. 22,566 14 10 Consideration for Annuities .. 13,683 9 0 Surrenders .. .. .. 37,550 11 0 £ s. d. j Loans released by surrender .. 61,985 18 2 Interest and Rent .. 387,804 19 7 £ s. d. Less land and in- Commission, new* .. 38,204 410 " cometax, „ renewal 3,817 3 10 £11,964 Bs. Id.; 42,021 8 8 property expenses, Contribution to Public Service Super£4,o66 9s. Id. .. 16,030 17 2 annuation Fund .. .. 713 19 8 — 371,774 2 5 Expenses of management— Salaries— £ s. d. Head Office .. 22,908 6 6 Branch offices and agents .. 11,126 19 9 Extra clerical assistance .. .. 2,317 8 11 Medical fees and expenses .. .. 5,143 5 6 Travelling-expenses 1,224 0 3 Advertising .. 127 10 9 Printing and stationery .. .. 2,273 12 4 Rent .. .. 5,545 4 0 • Postage and telegrams 1,565 9 0 Exchange .. 46 8 2 General expenses .. 3,338 15 1 Services rendered by Government Actuary .. .. 1,906 10 10 57,523 11 1 Transfer to Investment Fluctuation Reserve Account .. .. 10,000 0 0 Amount of funds, 31st December, 1926 7,029,583 16 2 £7,683,015 0 10 £7,683,015 0 10 j . —" 1 — I * Including agents' allowances Balance-sheet of the Government Life Insurance Department on 31st December, 1926. Liabilities. Assets. £ s. d. £ s., d. Total Assurance, Annuity, and En- Loans on policies .. .. .. 944,433 17 0 dowment Funds (as per Revenue New Zealand Government securities .. 2,231,680 0 0 Vecount) .. .. .. 7,029,583 16 2 Municipal Corporation debentures .. 209,530 12 3 Claims admitted, proofs not yet com- County securities .. .. .. 104,379 13 4 pleted .. .. .. 36,678 8 7 Harbour Board debentures.. .. 30,700 0 0 Annuities .. .. .. 743 17 0 Town Board debentures .. .. 32,294 17 2 Commission .. .. .. 1,484 7 2 Road Board debentures .. .. 21,800 0 0 Medical fees .. .. .. 492 9 0 Drainage Board debentures .. 1,873 11 4 Premium and other deposits .. 11,133 1 0 Power Board debentures .. .. 784,652 4 0 Sundry creditors .. .. .. 4,900 1 9 Landed and house property .. 130,750 12 2 Accident and Fidelity Fund .. 2,510 0 0 Landed and house property (leasehold) 1,505 15 3 Investment Fluctuation Reserve .. 206,098 13 7 Mortgages on property .. .. 2,576,714 II 8 Sinking Funds oil Local Body Loans 1,398 3 2 Properties acquired by foreclosure .. 13,266 7 1 Overdue premiums on £ s. d. policies in force .. 8,563 810 Outstanding premiums due but not overdue 48,198 19 9 56,762 8 7 Overdue interest .. 5,357 10 11 Outstanding interest due but not overdue 8,404 0 7 Interest accrued but not due .. .. 96,089 11 5 109,851 2 11 Agents' balances .. .. .. 5,462 16 6 ! Sundry debtors .. .. .. 2,601 4 1 : Cash in hand and on current account 36,763 4 1 £7,295,022 17 5 j £7,295,022 17 5 A. E. Allison, Commissioner. H. Rose, Secretary. Government Life Insurance Department, 6th May, 1927. The Audit Office, having examined the Revenue Account and balance-sheet, and compared - them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. —G. F. C. Campbell, Controller and Auditor-General.

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