New Zealand Gazette – 1881 – No. 10

Page 165

✨ Government Insurance Report



Numb. 10.
165

SUPPLEMENT
TO THE
NEW ZEALAND GAZETTE
OF THURSDAY, FEBRUARY 3, 1881.

Published by Authority.

WELLINGTON, FRIDAY, FEBRUARY 4, 1881.

Annual Report of the Government Insurance Commissioner.

Government Insurance Office, Wellington, 2nd February, 1881.

THE following report and statement of accounts of the Government Insurance Department for the year
ended 30th June, 1880, which could not be presented to Parliament during its last Session, are now
published for general information.

JOHN HALL,
(for the Colonial Treasurer.)

Government Insurance Office, Wellington, 4th September, 1880.

I HAVE the honor to report that, although the past financial year has been marked by commercial depres-
sion in the colony, the new business of this department has continued to expand beyond expectation, the
assurances completed in that time having reached an amount greater than that effected in any former
year.

I. NEW BUSINESS.

New proposals were received by the department to the number of 3,033, for a total sum of
£1,037,252. Of these proposals, 759 were either declined or otherwise failed of completion. The others,
numbering 2,274, became policies assuring £725,254, and yielding a new premium income of £23,210
17s. 8d. These figures show an increase of 365 proposals received, and of 202 policies issued, as com-
pared with those received and issued in the immediately preceding year. A descriptive summary of this
new business is contained in the following table :-

Class. No. of Policies. Sum Assured. Single Premiums. Annual Premiums.
Assurance ... ... ... 2,268 £ 724,854
Endowment ... ... 4 400
Annuity ... ... 2 £372 1s. per ann.
Total ... ... 2,274 725,254
Add Single Premiums ... ... ... ...
Total New Premiums

II. MORTALITY AND CLAIMS.

The number of deaths which occurred among persons assured during the year was 67, representing
78 policies, assuring the sum of £32,500. The death-rate is still, as on former occasions, considerably
below the mortality expectation on which the tables are based. In the report issued last year, reference
was made to the number of violent and accidental deaths which were included in the claims for that year.
A similar percentage of accident distinguishes the experienced mortality for the period under notice;
16 out of the 67 deaths announced being accidental, and 2 others resulting from suicide. As usual, the
chief cause of these accidents was drowning; 8 of the 16 persons referred to having been accidentally
drowned.



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✨ LLM interpretation of page content

💰 Annual Report of the Government Insurance Commissioner for year ended 30th June, 1880

💰 Finance & Revenue
4 September 1880
Government Insurance, Annual Report, New Business, Claims, Mortality, Statistics, 1880
  • John Hall (for the Colonial Treasurer)