, 1874-09-16
Y INSURANCE
COMPANY.
ANNUAL MEETING.

Royal Insurance Company was held at Liver
pool on Friday, the 9th inst. CHARLES TURNER,
Esq, NJ. p, Chairman of the Board of Direc.
tors, presided, and the notice converting the
meeting having been read, the report, as
follows, was taken as read:
FIRE DEPARTMENT!
The Directors have the pleasure of reporting
that in this branch of the business the results
of the year 1878 have been the most ~satisfac-
tory, as respects the aggregate amount Of
profit realised, which the Company has ever
experienced. p"
The Fire Premiums for the period amount
to S07, 405L. l9S. Cd, and the losses to
436, 1907. los. After the deduction of agents
commission and management expenses, the
profit on the transactions of the twelve months,
including interest, amounts to PIG, 22H. 16S.
sd. During the year the business in America
has been reduced, and it will accordingly be
observed that there is a slight diminution of
income when compared with 1872. The ao-
count for "~unearned premium for increase
revenue" is therefore closed for the present
and the surplus carried to Fire Fund, which
is thereby increased to 354,63U. los.
LIFE DEPARTMENT.
During the past year l,4O6 new proposals
were made to the Company. Of these 1909
we're accepted and completed for 514,638t,
the new premiums thereon being 1727l. Is.
Cd. The proposals declined during the period
amounted to 121,74A. The total income from
premiums, after deducting re-assuranoes,
amounted to 237,415I. los. Sd, and the
interest received from investments exclusive
of that on the annuity funds, was $4,000.
9s. 1Od. The claims during the year we're:
BY death: Original Sums assured .....'... 8ll1229 II 6
Bonus additions thereon . .,...... 7,423 IL 3
BY matured policies dnoluding chldren'' ondOw-
m'n''} Son 2rs aadit iom' aseP5S6 T.. l'1 ls@ IS 8 9
&l26,537 8
In the Annuity Branch the purchase-mOney
received for new annuities, together with the
premiums on contingent annuitles, amounted
to I2,45ll. Is. Cd, and the interest to 7,544G
9s. Thirty annuitants have died during the
year, the annual payments to whom amounted
to 1,473L 2s.
The result of the operations for the year
is that, after payment of all claims, annuities,
and expenses of every description, l5S,54T.
Os. 4d. has been added to the Life Funds,
making the total accumulatiOns of the Life
Branch of the Company 1901 1921. lis. lid.
The quinquennial investigation of the Life
Business will be made at the close of the
present year, preparatory to the declaration
of q bonus to the assured at the annual meet
ing in 1875. The method adopted at the
investigation of 1870 for securing perfect
accuracy in the calculations will again be
followed, and a separate valuation of the
liabilities will accordingly be obtained from an
independent actuary, in addition to the valua.
ton by the officers of the Company.
During the four years now expired the NOR
tality has continued to be below the expecta-.
ton, and the Life Fund has been increased
by a larger amount than in any similar period
since the establishment ofthe Company. From
a review of the business at the end Of the
first half of the present year, it may be fairly
anticipated that, after making ample provision
to meet a somewhat higher rate of mortality,
which the recent researches of the Institute
of Actuaries show may be anticipated, the
balance of profit will be satisfactory alike to
the shareholders and the assured.
DIVIDEND AND BONUS.
In addition to the interim dividend of IS.
per share paid In February last, the Directors
now recommend a further payment by way
of bonus of Is. per share. making together los.
per share, free Of income tax.
Mr.. M'LAREN then proceeded to read the
following statement of accounts sagfas.
FUNDS.
After providing for payment OF dividend