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18   DEPARTMENT OF FINANCE—INSURANCE BRANCH.

ceased to do new business in Canada, and also the ratio of payments to policy-holders to premiums received.

Year.

Premium-Income.

Payments
to
Policy-holders.

Rate of
Payments to
Policy-holders
per cent
of Premiums.

1879   ~    490,688

1850   447,910

1881   411,393

1882   412, 436

1883   371,570

1884   343,179

1885   321,566

1886   278,108

1887   262,445

1888   237,559

1889   216,730

1890   191,101

1891   181,905

1892   175,340

1893   ~   163,723

1894   178,467

1895   i   163,366

1896   150,395

 

Total    5,027,881

S 396,053 317,531 489,370 376,811 450,678 454,906 395,851 342,049 423,747 395,466 337,829 363,519 319.246 329, 903 368,887 435,862 367,132 377,949

 

6,942,849

80'71 70'89 110'87 91'36 121'29 132'56 123'10 12_2'99 161'46 166'47 155'88 190'22 175'51 188'18 225'31 244'23 224'73 251'30

138'09

Collecting the results for eighteen years, 1879 to 189G, it will be seen that the total payments to policy-holders made by said retired companies exceeds by 38.09 per cent the total premium-income during the same period.

Canadian Companies.

The assets and liabilities, income and expenditure, of the Canadian Life Companies will be found exhibited in the statements under their respective headings at pages 81, 82 and 86 and 87. In the calculation of the reinsurance reserve, the Institute of Actuaries' H. M. Table of Mortality with 4 per cent interest is employed by the Dominion Life, the Federal, the Manufacturers Life, the North American, and the Temperance and General. The Canada Life employed in its valuation the American table, with 4 per cent interest, and the Great West Life and the Ontario Mutual used the Actuaries (17 offices) Table with 4 per cent interest, and the Sun employed the H. M. 4 per cent Table. The London Life used the Institute of Actuaries' H. M. Table with 4z per cent interest in the valuation of their general policies, and Actuaries' 4 per cent Table for their industrial policils. The Confederation used the H. M. 33: for the valuation of policies issued in 1896, and the H. M. 41 for policies issued prior to that date.

From the tables on pages 86 and 87 referred to, it will be seen that the Canadian Companies have received an income of $8,519,049.95, drawn from the following sources :

Premiums and annuity sales    

$ 6,941,828

20

Interest and dividends   

1,512,112

52

Sundry    

65,079

23

Total   $ 8,519,049

95


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