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PRUDENTIAL A'l

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PRUDENTIAL A'l ASSURANCE COMPANY, Chief Office :HOLBORN BARS, LONDON, E.Ci SUMMARY OF THIRTY-FIRST ANNUAL REPORT, For the Year ending 31st December, 1879* V npHE Directors have more than ordinary Pleasure in presenting their Report and Accounts for the year 1879. In every respect the accounts are satisfactory, the progression of the income is particularly gratifying, tneincrease of the Assurance Funds very considerable, while the per-centage of each item of expenditure shows a reduction. ORDINARY BRANCH. 4.1. Dranch the New Business completed during the year consists of 4,076 Policies, assuring the sum of £517,566, and producing a New Annual Premium Income of £18,522 3a. Id. The expenses of the Branch have been reduced 2.3 per cent. on the Annual Premium Income, and are now only 11.44 per cent. on such income. # The Annual Premium Income at the end of the year is X109,581 9s. 5d., showing an increase of .£7,69814is. Id. over the year 1878. INDUSTRIAL BRANCH. The Premiums actually received during the year in this Branch are. £ l,407,143 10s.6d. as compared with the sum of £1,228,883 12s. received during 1878, showing an increase of Premium Receipts of £178,259 18s. 6d. The Claims of the year amount to £ 509,934 10s. 7d., while the total amount of Claims paid in this Branch is .£2,572,523. ■ The expenses of conducting the existing business of this Branch are now 32.37 per cent. upon the Premium Income, being 1.15 per cent. less than those of last ,a? f-63 Pe* cent, less than the amount provided at the last Valuation. These expenses are necessarily higher than those in the Ordinary Branch, as the premiums are collected weekly, but they are less than those of any other bullae. ^ransacting purely life assurance The rate of the New Business charges is one-half per cent. less than that of last year, but inasmuch as specific provision is made for these charges in the first year's premium, and they are defrayed by new Members, forming no charge whatever upon renewals, their incidence is of no practical moment. The process of reducing the Extension Expenses has been continued during the past year. The expenses incurred under this head show a diminution of .68 per cent., and the same remarks apply to these as to the New Business charges. The organisation of this Branch is still maintained m a high state of efficiency. The Prudential has been the pioneer in the material improvements which, in the last quarter of a centnry have been introduced inta the practice of Industrial Assurance, and, as has been proved by several actuarial investigations of a severe character, is not merely solvent but in the highest degree prosperous. At the last Annual Meeting the Directors recom- mended that the Auditors should make a monthly examination of the accounts of the Company. This recommendation was adopted by the Shareholders, Auditors ra D0W appeDd the Eeport made the Life Assurance Companies' Act, 1870. Fourth Schedule. BALANCE SHEET OF THE PRUDENTIAL ASSURANCE COMPANY "—' (Ordinary Branch), on the 31st December I TV. ^ABILITIES. £ 8. Lite Assurance Fund 591452 16 9 Sickness and Assurance Fund 490 16 2 Leasehold Redemption Fund 5,000 0 0 m • n T., £ 596,943 12 11 Claims under Life Policies adr&itted but not yet paid I 14,843 1 0 £ 611,786. 3 11 ASSETS. # ———— Mortgages 011 Property within the United Kingdom 128,662 6 8 Loans on the Company's Policies 21,351 17 6 Investments:— In British Governmnt Securities. 75,488 7 3 49,9W J 3 Railway and other Debentures and Debenture Stock 40,658 14 0 Ditto Shares (Preference and Ordinary) 26,785 1 4 House Property 97,528 14 8 Reversions 55,491 8 1 Life Interests 133 5 3 Loans on Municipal and other Rates 16,983 4 11 Mortgages of Reversions. 2,985 9 5 Agents' Balances 484 19 3 Outstanding Premiums. 7,487 15 0 Ditto Interest and Rents 3,688 14 1 Amount due from Official Liquidator of International Insurance Society 12,160 12 1 Deposits at Three Month's notice 33,000 0 0 Cash- -On current account .£25,136 1 11 In hand. 1000 0 ————— 25,236 1 11 < £ 611,786 13 11 BALANCE SHEET OF THE PRUDENTIAL ASSURANCE COMPANY (Industrial Branch) on the 31st December, 1879. LIABILITIES. X a. d. Shareholders Capital. 24,920 0 0 Life Assurance Fund. 1,001,033 15 5 Contingency Fund 40,000 0 0 Claims under Life Policies admitted. 8,079 18 0 r'1e!1 r -,¡ ft •< Jl,074,033 13 5 n_ ASSETS. Mortgages on Property within the United Kingdom. 18,242 0 0 Investments:— In British Government Securities. 81,141 4 0 Freehold Ground Rents 363,449 9 3 Scotch Feu Duties 7,047 14 0 Freehold Estates. 58,173 7 8 House Property < £ 206,225 2 4 Less Amount written off New Offices 2,000 0 0 ■r-t ,-L T L m>m 2 4 Lite and o .her Interests and Rever- sions 50 504 9 3 Furniture and Fittings X25,000 0 0 Less Amount written off 50000 T 24>500 0 0 Loans on Municipal and other Rates 87906 3 10 Loans on Personal Security 35 595 l 8 Agents' Balances 97 315 2 9 Outstanding Interest and Rents. 8,214 1 9 Deposits at Three Months' notice. 5 000 0 0 Cash-On current account = £ 32,469 16 11 In hand. 2.50 0 0 —————=— 32,719 16 11 < £ 1,074,033 13 5 THOS. C. DEWEY, 7 IU- ———— WILLIAM HUGHES, j Managers. W. J. LANCASTER, Secretary. 1 EDGAR HOBNE, Chairman.. 1 I HENRY HARBEN, ) TV V THOS. REID, j Erectors. We have examined, month by month, the various Receipts and Payments of the Prudential Assurance Company. We have also examined the foregoing Accounts, find them to be correct, and hereby confirm the same. We have scan and examined the various securities. JAMES ALLANSON, 7 4 VI ROBERT BARNES, t Auditors. 18th February, 1S30.

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