The Express.
London, England, 1853-10-20 00:00:00

THE EXPRESS, THURSDAY EVENING, OCTOBER 20, 1853.

LIFE ASSURANCE.

The following are the nommen&
legit committee appointed to take into

of the Se-
lantion the

subject of Allan/SSICS Asneiatioas:
Your committee therefore would Hammond that it shall
be imperative upon each company to make a templets in-
vestigation Into its affairs at lout once in Eve years, as is
usually prescribed by their deeds of settlement, and at such
them so prenallisd, which shall show a complete valuation
of their risks and liabilities, and of their meets to meet the
same ; and that all such valuation accounts, which may be
made for the information and us of their proprietors,
shareholders, or members, shall be registered in the office
of the registrar; and that in each intermediate year
between such periodical balsas* sheets or valuations, there
shall also be registered a statement containing authenti-
cated information on the following particulars
Tke amount of receipts daring the year for premiums on
policies.
Toe amount of expenses daring the year.
The number and amount of new policies issued.
The total number and amount of liabilities en all current
policies.

The total amount of premiums reciivable on the same.
The whole amount of capital, distinguishing the manner
in which invested.

How much in cash.
How much is government securities.
How much in mortgage upon real estate.
How much in other securities, specifying their nature.

7he average rate of interest received Ilion each class of
investments.

The amount of inch investment, U any, on which the
payment of Interest is in arrears.
The table of mortality and the rate of interest used in
calculating the premiums.
The committee add :

13. The evidence which your committee has obtained,
loads them to believe that some such general statemeng
would be of much greater utility in enabling the public to
some to a correct judgment as to the condition of an 081 es,
than any forma account that could be adopted. In ad-
dition to the above, in the case of proprietary companies,
the amount of subscribed capital should be stated, and also
the amount actually paid up, and how invested.
14. It has been brought to the attention of your commit-
tee, that the business of assurance °Ekes is becoming every
year of a may. varied character.
15. This your committee regard as the necesury result
of the advancement of the science on which it is hued ;
but there is a class of bulimia which some offues have un-
dertaken, via., that of receiving deposits of money at in-
terest, which appears to your committee totally inconsis-
tent with the business of life assurance.

16. Your committee will conclude their report by calling
attention to a part of the evidence which ads:4sta* the
formation of an incorporated society of actuaries, with •
we. to the advancement of that important science, and
also with a view to issue diplomas or eertificet.a to persons
qu►lified to practise as actuaries. If any effort should be
made to induce parliament to grant such an incorporation
the committee are of opinion that it will he worthy of con-
sideration, hut that further investigation would be needful
before such measures should be adopted, as considerable
difference of opinion prevails on the subject among actuaries
themselves.