H.—B

Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1927. £ s. d. £ s. d. Amount of Funds at Ist January, 1927 7,029,583 16 2 Death claims under assurance policies, Renewal premiums — Assurance, An- including bonus additions .. 197,785 19 0 nuity, and Endowment .. .. 526,769 4 4 Endowment Assurances matured, inNew premiums (including instalments eluding bonus additions .. 264,792 1 0 of first year's premiums falling due Endowments matured .. .. 10,277 7 0 in the year) .. .. .. 55,037 211 Premiums returned on endowments .. 343 11 4 Single premiums—Assurance and En- Bonuses surrendered for cash .. 11,604 17 10 do wment .. .. .. 4,72951 Annuities .. .. .. 23,002 4 10 Consideration for Annuities .. 14,329 1 2 Surrenders .. .. .. 39,087 13 11 £ s. d. Loans released by surrender .. 58,939 3 7 Interest and Rent .. 405,044 11 £ s. d. Less land and in- Commission, new* .. 34,450 14 6 come tax, „ renewal 4,045 13 1 £15,235 9s. 7d.; — 38,496 7 7 property expenses, | Contribution to Public Service Super£3,346 17s. Id. ... 18,582 6 8 annuation Fund .. .. 777 10 5 386,461 14 5 Expenses of management — Salaries. £s. d. Head Office .. 21,085 7 8 Branch offices and agents .. 1.1,952 12 6 Extra clerical assistance .. .. 2,590 11 9 Medical fees and expenses .. .. 4,309 410 Travelling-expenses 1,020 5 8 Advertising .. 445 16 5 Printing and stationery ... .. 1,931 6 2 Rent .. .. 5,772 18 0 Postage and telegrams 1,759 15 1 Exchange .. 42 18 5 ! . General expenses .. 2,816 011 Services rendered by Government Actuary .. .. 4,151 15 9 57,878 12 9 Transfer to Investment Fluctuation Ue.servo Account .. .. 10,000 0 0 Amount of funds, 31st December, 1927 7,303,924 14 10 £8,016,910 4 I £8,016,910 4 1 1 11 —— * Including agents' allowances. Balance-sheet of the Government Life Insurance Department on 31st December, 1927. Liabilities. Assets. £ s. d. £ s. d. Total Assurance, Annuity, and En- Loans on policies .. .. 978,496 .2 0 dowment Funds (as per Revenue New Zealand Government securities 2,205,010 0 0 Account) .. .. .. 7,303,924 14 10 Municipal Corporation debentures .. 205,934 18 9 Claims admitted, proofs not yet com- County securities .. .. .. 104,890 19 9 pleted .. .. .. .. 43,549 19 9 Harbour Board debentures .. 30,200 0 0 Annuities .. ~ .. 811 8 11 Town Board debentures .. .. 32,176 19 0 Commission .. .. .. 689 19 I Road Board debentures .. ~ 21,800 0 0 Medica! fees .. .. .. 389 11 0 Drainage Board debentures .. 1, 847 2 3 Premium and other deposits .. 12,429 5 0 Power Board debentures ~ .. 779,505 14 1 Sundry creditors .. .. .. 5,458 0 8 Landed and house property .. 140,385 19 1 Accident and Fidelity Fund .. 2,980 0 0 Landed and house property (leasehold) 1,757 5 3 Investment Fluctuation Reserve .. 209,707 7 5 Mortgages on property .. .. 2,875,494 14 4 Sinking Funds on Local Body Loans 4,460 16 5 Properties acquired by foreclosure .. 19,331 710 Overdue premiums on £ s. d. policies in force .. 8,760 2 3 Outstanding premiums due but not overdue 48,439 6 10 57,199 9 1 Overdue interest .. 7,127 10 4 Outstanding interest due but not overdue 8,924 3 7 Interest accrued but not due .. .. 99,489 7 7 115,541 1 6 Agents' balances .. .. .. 3,136 8 0 Sundry debtors .. .. .. 1,531 17 0 Cash in hand and on current account 10,181 5 2 £7,584,401 3 1 £7,584,401 3 1 A. B. Allison, Commissioner. H. Rose, Secretary. Government Life Insurance Department, 10th May, 1928. 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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