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PRUDENTIAL ASSURANCE COMPANY, LIMITED. CHIEF OFFICE—HOLBORN BARS, LONDON. Summary of the Report presented at the Sixty-first Annual Meeting held on 3rd March 1910. ORDINARY BRANCH.-The number of policies issued during the year was 76,087, assuring the sum of £ 7,044,603, and producing a new annual premium income of £ 415,015. The premiums re- ceived during the year were £ 4,710,107, being an increase of £93,770 over the year 1908. The claims of the year amounted to £ 3,018,981. The number of deaths was 8,375, and 17,629 endow- ment assurances matured. The number of policies in force at the end of the year was 882,804. INDUSTRIAL BRANCH.-The premiums received during the year were £ 7,171,770, being an increase of £ 246,015. The claims of the year amounted to £ 2,877,978, including £ 176,401 bonus additions. The number of claims and surrenders, including 4,545 endowment assurances matured, was 382,233. The number of free policies granted during the year to those policyholders of five years' standing and upwards, who desired to discontinue their payments, was 151,865, the number in force being 1,506,408. The number of free policies which became claims during the year was 41,386. The total number of policies in force at the end of the year was 18,375,229; their average duration exceeds eleven and a half years. The assets of the company, in both branches, as shewn in the balance sheet, after deducting the amount written off securities, are £ 74,201,701, being an increase of £ 2,242,842 over those of 1908. The Directors are pleased to announce an increase in the rate of bonus of both Branches of the Company as follows:- In the Ordinary Branch a reversionary bonus at the rate of £ 1 14s. per cent. on the original sums assured has been added to all classes of participating policies issued since the year 1876. This is an increase of two shillings per cent. over the rate declared for the past three years. In the Industrial Branch all policies of over five years' duration- which become claims either by death or maturity of endowment from the 4th of March, 1910, to the 2nd of March, 1911, both dates inclusive, will participate. This bonus will be paid by way of addition to the sums assured of:- £ 5 per cent. on all policies becoming claims upon which at least five but less than ten years' premiums have been paid. £ 10 per cent. on all policies becoming claims upon which at least ten but less than fifteen years' premiums have been paid, and £ 15 per cent. on all policies becoming claims upon which at least fifteen years' premiums have been paid. General Balance Sheet of the Prudential Assurance Company. Limits LIABILITIES. £ s. d. Shareholders' capital 1,000,000 0 0 Life assurance funds 71,328,318 14 9 Reserve funds 1,625,000 0 0 Claims under life policies admitted 157,480 12 8 Balance of Bonus under life policies reserved for distribution 90,902 3 6 I £ 74^201,701 10 11 sd, being the Summary of both Branches, on the 31st December, 1909. [ ASSETS. £ s. d. British Government securities 2,997,703 18 3 Indian and Colonial government and provincial securities 6,604,314 8 4 Railway and other debentures and debenture stocks, and gold and sterling bonds. 11,090,547 13 0 Loans on County Council, Municipal, and other rates 14,859,330 17 7 Freehold ground rents, and Scotch feu duties 4,934,552 13 2. Freehold and leasehold property. 3,908,493 10 7 Mortgages on property within the United King- dom 9,488,680 11 1 Railway, Gas, and Water stocks 6,799,751 12 9 Suez Canal shares 160,217 7 7 Telegraph and other shares 100,899 15 4 Leasehold ground rents J. 8,153 11 11 Metropolitan, London County Consolidated and Port of London Authority stocks, and City of London corporation bonds 253,696 1 S. Metropolitan Water Board stocks. 435,263 10 7 Bank of England stock 203,724 2 11 Indian, Colonial and Foreign corporation stocks 2,980,960 14 4 Foreign government and provincial securities 3,138,078 3 11 Reversions and Life Interests 1,372,361 10 10 Loans on the company's policies 2,967,472 15 0 Rent charges 312,084 12 4 Outstanding premiums, and agents" balances.. 494,838 6 6 Outstanding interest and rents 596,891 9 3 Cash-In hands of superintendents 34,754 13 3 Do. On deposit, on currcnt accounts, and in hand 458,939 11 0 I £ 74,201,701 10 11 F-REDK. SCHOOLING, D. W. STABLE H. A. HARBEN, Chairman. A. C. THOMPSON, Joint Managers. J. SMART, Joint Secretaries. THOS. C. DEWEY, W. E. HORNE, Directors We report that with the assistance of the Chartered Accountants as stated below we have examined the foregoing accounts and have obtained all the information and explanations that we have required and in our opinion such accounts are correct and the foregoing Balance Sheet is properly drawn up so as to exhibit a true and correct view of the state of the Company's affairs according to the best of our infoiill- ation and tke explanations given to us and as shewn by the books of the Company. PHILIP SECRETAN, » W. H NICHOLLS, Auditors. We have examined the Cash transactions (receipts and payments) affecting the accounts of the Assets and Investments for the year ended December 31st, 1909, and we find the same in good order and properly vouched. We have also examined the Deeds and Securities, Certi- 1 ficates, &c., representing the Assets and Investments set out in the above account, and we certify that they were in possesion and safe custody as on December 31st, 1909. 14th February, 1910. DELOITTE, PLENDER, GRIFFITHS & Co., Chartered Accountants. LOCAL AGENTS:—Mr. W. H. Mallett, Superintendent, Portmadoc; Mr. Hugh Davies, Barmouth, L. Davies Pwllheli, R. Roberts, Blaenau Festiniog, Assistant Superintendents; G. Hughes, Bala, W. D. Williams, Bala, Evan Morgan I.laruwch'lyn E. E. E an rD. Jones, Dolgelley, D. J. Owen, Fairbourne, R. Davies, Barmouth, O. Lewis, Harlech, Agents. "1" '{