H.—B

Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1942 £ £ Amount of funds at Ist January, 1942 .. 11,854,254 Death claims under assurance policies, Renewal premiums: Assurance, annuity, including bonus additions .. .. 425,129 and endowment, less reinsurance premiums 762,520 Endowment assurances matured, including New premiums (including instalments of first bonus additions .. .. .. 317,321 year's premiums falling due in the year), Endowments matured .. .. .. 10,046 less reinsurance premiums .. .. 50,084 Premiums returned on endowments .. 802 Single premiums : Assurance and endowment 28,299 Bonuses surrendered for cash .. .. 3,561 Consideration for annuities .. .. 24,089 Annuities .. .. .. .. 35,643 £ Surrenders .. .. .. .. 23,855 Interest, rent, and other income .. 534,858 Loans released by surrender .. .. 41,328 Less property expenses .. 13,669 £ 521,189 Commission, new .. .. 36,572 Commission, renewal .. .. 5,950 42,522 Contribution to Public Service Superannuation Fund .. .. .. .. 594 Land and income tax .. .. .. 42,216 Agents'retiring-allowances .. .. 2,011 Expenses of management .. .. 58,910 War-damage-insurance premiums .. 1,613 Property depreciation .. .. .. 6,700 Transfer to Investment Reserve Account .. 20,000 Amount of funds, 31st December, 1942 .. 12,208,184 £13,240,435 £13,240,435 Balance-sheet of the Government Life Insurance Department on 31st December, 1942 Liabilities £ Assets £ Total assurance, annuity, and endowment Loans on policies .. .. .. 1,089,140 funds (as per Revenue Account) .. 12,208,184 New Zealand Government securities .. 3,618,532 Claims admitted, proofs not yet completed 126,835 Loans to local bodies .. .. .. 2,161,098 Annuities .. .. .. .. 492 Landed and house property .. .. 505,519 Medical fees .. .. .. .. 224 Landed and house property (leasehold) .. 343 Premium and other deposits .. .. 30,419 Mortgages on property .. .. .. 4,947,154 Sundry creditors .. .. .. 14,555 Properties acquired by foreclosure .. 21,827 Accident and Fidelity Fund .. .. 5,000 Ovordue premiums on policies in £ Investment Reserve Account .. .. 378,202 force .. .. .. 3,426 £ Outstanding premiums due but not Sinking funds on local-body loans.. 2,470 overdue .. .. .. 84,497 Interest accrued thereon .. 30 87,923 2,500 Overdue interest .. .. 3,322 Outstanding interest due but not overdue .. .. .. 10,717 Interest accrued but not due . . 112,445 ——— 126,484 Sundry debtors .. .. .. 3,492 Office furniture and fittings .. .. 2,500 Cash in hand and on current account .. 202,399 £12,766,411 £12,766,411 W. E. Arnold, Commissioner. J. W. Macdonald, Secretary. Government Life Insurance Department, 22nd April, 1943. 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. — Cyril G. Collins, Controller and Auditor-General.

2