Leader (1850-1860), 29th October 1859, Edition 1 of 2, Page 1208, Untitled Article

THE INTERNATIONAL LIFE ASSURANCE SOCIETY . 142 , STKANI > , LONDON , W . C . CAPITAL—HALF-A-MILLION . DIRECTORS . EdmondSheppard Sy . mes , Esq ., Chairman . Wm . Kenworthy Browne , Esq . | JbhriMoss , Beg . John Elliotson , M . D ., F . R-S . I John Symes , Esq . Henry John Hodgson , Esq . J Joseph Thompson , Esq . Secretaries — Alexander Richardson , Esq . ; August us Blondel , Esq . Auditors—Professor Charles Wheatstone , F . R . S . ; Professor J . Radford Young :, Medical Referee General—John . Elliotson , M . D . Cantab . F . R . S ., 37 , Conduit-street . Actuary—W . S . B . Wooihouse , Esq ., F . R . A . S ., F . S . S ., &c . Assistant Actuary—Barker Wbolhouse , Esq . Bankers—Messrs . Glyri , Mills , and Co . Solicitors—Messrs . Gregory , Gregory , Skirrow , and Rowcliffe . The International Society has been established since 1837 for effecting every description of Life Assurance . Immediate and Deferred Annuities , Endowments , &c . at rates affording' ^ he most equitable acljustment of every contingency to the corresponding-risk . . Prospectuses and every information may be obtainedfrom the Chairman , at the Chief Office , 142 , Strand . EEPORTS OF MESSRS . WOOLHOTJSE . ' . ' ¦ ¦ . AND NEISON . , .. ;¦ - ¦¦ fVENTLEMEN , —la pursuance of your request ^^^ a valuation of the assess and liabilities in respect of the . policies of the Society , up to the same period * as the report of the Insurance Commissioners of Massachusetts , has been carefully calculated in minute detail , and I hasten to communicate the results of this investigation . : The calculations of fhe Commissioners , in the report alluded to ; being based on a hypothesis of fictitious premiums having no relation -whatever to the Society's tables , or the premiums actually receivable , are necessarily fallacious , and may be regarded purely as a fabrication . . It would therefore be a waste of time to . enter on any discussion of them beyond the announcement of this undoubted fact . . The results I am . now about to lay before the Court have been arrived at from a calculation of the actual data of the Society ' s existing . business , and may therefore be relied , upon . As regards the accuracy of the work , I am at all times prepared to satisfy any competent person . On the 30 th November , 1858 , the policies in force on the books of the Society consisted of the following : — o , SJ 6 . 2 Amount Annual 25 o Assured . Premiums . JC s . d . £ b . d . Without profits . 946 387 , 905 O 0 11 , 407 17 4 Less re-assurances 33 , 200 0 0 1 , 276 4 1 364 , 705 0 0 10 , 181 13 3 With profits 3962 1 , 780 , 319 0 0 58 , 710 8 2 Bonus additions 39 , 451 0 0 Assurances 4607 2 , 174 , 475 0 ~ , 848 1 ~ l Deferred and Survivorship Annuities 148 2 , 815 4 7 658 7 3 Endowments 7 811 10 22 O 4 Immediate Annuities ...... 170 6 , 202 12 2 Total 4938 69 , 528 0 > 0 The age for each polioy being- brought up to the date of the calculation , and the whole being afterwards subjected to accurate valuation , taking Interest at four per cent ., tho balance-sheet of the Soolety Is found to be as follows : — * ' ti A 6 SETS . Present value of premiums receivable on assurances £ 910 , 297 10 2 Present value of premiums on deferred and urvivorahip annuities 3 , 227 10 11 Present value of premiums receivable on endowments 124 18 9 Investments 102 , 397 IS 10 . £ 1 , 100 , 047 13 8 LIABILITIES . Present value of assurances and additions . ... . £ 017 , 830 12 2 Present value of deferred and survivorship Annuities 18 , 145 13 7 Present value of endowments . 051 10 , 0 Present value of immediate Annuities M ....... 45 , 295 17 5 Paid-up capital 79 , 008 0 0 Bonus on shares 320 11 9 . ' -, — 1 , 061 , 858 4 11 Balance in favour of the booioty ...... # 44 , 180 8 9 Tnlaia ^ he sura whjob . in prcoont value represents the 1 ' , ¦ % \ '" ' .. , n ii I I * Instead , pf ^ i « i pf November the valuation is huroln Wffcfo-fp the aoth / . being' the termination of the financial y « wr .

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