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Summary of the Report presented…

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Summary of the Report presented at the Forty-seventh Annual Meeting held on 5th March, 1896. ORDINARY BRANCH.—The number of Policies issued during the year was 61,450, assuring- the sum of £ 6,285,260, and producing a New Annual Premium Income of £ 342,478. The premiums received during the year were £ 2,304,013, being an increase of ^226,057 over the year 1894. The Claims of the year amounted to £ 572,289. The number of Deaths was 4,479, and 218 Endowment Assurances matured. The number of Policies in force at the end of the year was 414,137. INDUSTRIAL BRANCH.—The Premiums received during the year were L4,352,625, being an increase of £ 108,401. The Claims of the year amounted to £ 1,797,688. The number of Deaths was 196,507, and 1,418 Endowment Assurances matured. The number of Free Policies granted during the year to those Policyholders of five years' standing, who desired to discontinue their payments, was 59,352, the number in force being 448,816. The number of Free Policies which became Claims during the year was 8,956. The total number of Policies in force at the end of the year was 11,682,748: their average duration is nearly seven and three-quarter years. The Directors have made more than one attempt to deal with the difficult question of old age pensions for the Industrial classes, and they are happy to inform the Shareholders that the special tables combining assurance with a provision for old age, which they issued in September last, have met with considerable success. At the end of the year the number of Policies in force under these tables as the result of three months' working was 169,791, producing an Annual Premium Income of £ 62,974. The Assets of the Company, in both branches, as shewn in the Balance Sheet, are £ 23,915,890. being an increase of £ 2,702,085 over those of 1894-

I -General Balance Sheet of…

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