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402   DEPARTMENT OF FINANCE—I VSURA NCE BRANCH.

NEW YORK LIFE—Continued.

LIABILITIES IN CANADA.

Under Policies issued previous to 31st March, 1878.

 

*Amount computed to cover the net present value of all Canadian policies

and bonuses in force    8 543,201 00

Deduct value of said policies reinsured in other companies licensed in Canada   1,681 00

Net reinsurance reserve    $ 541,520 00

Amount of unpaid claims, viz.:

Death losses unadjusted but not resisted (817,640 accrued in previous years)   8   1,371 00

_Matured endowments, due and unpaid (accrued in previous years)   133 11

Total death claims and matured endowments    1,504 11

Amount of dividends or bonuses to policy-holders in Canada    728 06

Total net liabilities to said policy-holders in Canada    $ 543, 752 17

LIABILITIES IN CANADA.

Under Policies issued subsequent to 31st March, 1878.

*Amount computed to cover the net reserve on all outstanding policies

and bonus additions in Canada (including annuities)    $3,595,928 00

Claims for death losses unadjusted but not resisted   4,363 60

Claims for matured endowments due and unpaid   1,000 00
Amount of dividends and bonuses to Canadian policy-holders due and

unpaid    469 59

Total net liabilities to said policy-holders in Canada    $3,601,761 19

Total net liabilities to all policy-holders in Canada    $4,145,513 36

 

 

INCOME IN CANADA.

Cash received for premiums during the year in Canada    $ 800,087 18

Premium obligations taken in part payment of premiums    4,199 71

Premiums paid by dividends    8,916 21

Cash received for annuities   2,131 60

Total    $ 815,334 70

Deduct premiums paid for reinsurance    198 94

Net premium income    $ 815,135 76

Amount received for interest and dividends    167,258 12

Net amount received for rents (after deducting all taxes and expenses)   7,212 30

Total income in Canada    $ 989,606 18

EXPENDITURE IN CANADA.

Amount paid during the year on account of claims in Canada, viz. :—On account of death claims (of which 412,702.89 accrued in previous years.)

Bonus additions 82,729.68    8 253,267 43

Deduct reinsurance received from other companies   4,500 00

 

Net amount paid for death claims    8 248,767 43

On account of matured endowments    23,331 96

Net amount paid on account of claims    $ 272,099 39
x Based on Actuaries' Table of Mortality with 4 per cent interest.


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