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PRUDENTIAL ASSURANCE COMPANY,…

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PRUDENTIAL ASSURANCE COMPANY, LTD. CSisxxsf Office = SIOXaieSOiRJXr .B..A.B.S, LOKTDOKT. Summary of the Report presented at the Fifty-seventh Annual Meeting held on ist March, 1906. ORDINARY RRANCH.The number of Policies issued during the year was 75,293, assuring the sum of ^7,211,427, and producing a New Annual Piemium Inc me of ^335,029. The Prem"tims during the year were 1,123,318, being an in rea e of £154.3(2 over the year 1904. The Claims of the yelr amounted to £ 1,812,618. The numbar of Deaths was 7,437, and 7,775 Endowment Assurances matured. The number of Policies in force at the end of the year was 773,051. INDUSTRIAL BRANCH.—The Premiums received during the year were ^6,i;y,050, being an increase of £ 153,715. The Claims of the year amounted to £ 2,261,743. The number of Deaths .'was 238,220 and 3,344 Endowm-nt Assurances matured. The number of Free Policies granted during the year to those Policv Inlders of five years' standing and upwards who desired to disco tinue their payments, was 123,586, the number in force being 1,102,267. The number of Free Policies which became Claims during the 3 ear was 24,698. total number of Polic:es in force at the end of the year was 16,065,268; their average duration is eleven years. The Assets cf the Company, in both branches, as shown in the Balance Sheet, are £ 59,464,376, being an increase of £4,104,871 over those of 1904. The Staff Provident Fund, which was founded in 1898 for the benefit of the outdoor staff, shews a satisfactory increa e for the year, the total amount standirg to the credit of the Fund being £ 148,941. Since the completion of the Valuation the Actuary has reported that in his opinion a general increase of tivo-and-a half J>er cent, could, vith safety, be granted under the principal Industrial Branch 'l'bblcs if pr vision were made for an increase in the liability The Board have accordingly revised the Tables as from ist March, 1906, and have made provision to meet the increased liability by the tran-fer during the current yea- cf £750,000 from the Reserve Fund to the Life Assurance Fund in ihe Industrial Branch, leaving this Reserve Fund at £1,000,000. The Shareholders will be glad to know that th;s revision affects nearly Thirteen Million Policie-, and of this number over Ten Million Policies receive an immediate increase in the sum assured. GENERAL BALANCE SHEET OF THE PRUDENTIAL ASSURANCE COMPANY, LIMITED, bting the Summary of both Branches, on the v 31st December, 1905. LIABILITIES. £ s. d. ASSETS. £ s. d. Shareholders'Capital 1,000,000 0 0 British Government securities 3,352,182 13 9 Reserve Funds 2,700,000 0 0 Indian and colonial government securities 5,292,114 14 2 Life Assurance Funds 55,633,131 14 10 Railway and other debentures and debenture stocks, and gold and Claims under life policies admitted 131,244 10 8 sterling bonds 6,133,775 5 1 Loans on County Council, Municipal and other rates. 13,819,468 10 2 Freehold ground rents and Scotch feu duties 3,860,299 6 4 Freehold and leasehold property 3,685,329 4 2 Mortgages on property within the United Kingdom 7,609,760 5 7 Railway, Gas, and Water stocks ••• 7,581,357 0 4 Suez Canal shares 164,883 9 4 I Tetegraphandothershares S7,623 6 4 Metropolitan Consolidated stock, and City of London bonds 258,717 2 11 Bank of England stock 200,559 18 6 Colonial and Foreign corporation stocks 1,419,012 13 6 Foreign government securities 1,294,215 0 7 Reversions and Life Interests 1,161,978 18 5 Loans on the Company's Policies 2,134,509 8 7 Rent charges 297,298 2 4 Outstanding premiums and agents' balances 425,667 19 2 s '• Outstanding interest and rents ••• 50P,463 10 9 Cash —In hands of superintendents ■■■ 34,653 11 5 Ditto-On current accounts, and in hand 132,406 4 1 659,464,376 5 6 659,464,376 5 6 THOS. C. DEWEY, General Manager. FREDERICK SCHOOLING, Actuary. HENRY HARBEN, Chairman. D. W. STABLF, Secretary. W. J LANCASTER, 1 n,rfn,„ W. E. HORNE, {Director. We have examined the Cash transactions (rect-ipts and payments) affecting the accxr ts of the Assets and Investments for the year ended December 3TSt, 1905, and we find the same in good order and properly viuched. We have also examined the Deeds and Securities, Certificates, &c., representing the Assets and Investments set out in the above account, and we certify that they were in possession and safe cus ody as on December 31st, 1905. 14/A February, 1906. DELOITTE, PLENDER, GRIFFITHS & Co Chartered Accountants. Prospectuses, Proposal Forms, and every information may be obtained from the Agents of the Company, or on application to 14th February, 1906. Mr. G. H. HEAP, District Superintendent, 1, Argyle Square, King's Cross, W.C.

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