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EDINBURGH AND LEITH
THE STANDARD LIFE ASSURANCE COM? AHY-continued.
Extract from tlie Eeport to the 45tli Annual Oeneral Meeting of
tlie Company, held 20th April 1871.
' On the present occasion the Board of Directors have not only to give an account of
their proceedings during the last financial year of the Company's progress, but during the
quinquennial period which closed on 15th November 1870.
' The Directors have now^ much satisfaction in reporting that each year of the quin -
quennial period has been attended by that steady and satisfactory progress which has for so
long a period marked the operations of the Company.
New Assurances effected from 15th November 1865 to 15tii November 1870.
' To 15th November 1866, ..... £1,190,28111 2
» " 1867, ..... 1,127,520 10
" r 1868, ..... 1,104,261 19 6
" « 1869, 1,110,347 2 9
» n 1870, ..... 1,181,399 3 10
Total in 5 Years,
£5,713,813 7 3
Giving an annual average of new business, during the period, of £1,142,762, 15s. 5d., the
first and last years of the period being above the average.
' While the Directors direct attention to these results as indicative of the industry with
which the business has been pursued, they would also claim credit for the exercise of a sound
discretion in the selection of lives, the proposals made to the Company during the period
referred to, and from which these assurances were selected, amounting to no less than
£7,151,170, 16s. 5d., contained in 11,221 proposals, of which 9190 were accepted, repre-
sented by the total of £5,713,813, 7s. 3d., shown above.
' The Company has thus, it must be admitted, been eminently successful in obtaining
new business, evincing the esteem in which it is held by the public ; but a Report of this
nature would be very incomplete were prominence not given to the Exits as well as the
Entrances. Death has claimed its usual percentage of the living, and the Company has
fulfilled the object of its Institution by meeting with promptness the claims which were thus
made upon its funds.
' The Deaths during the quinquennial period gave rise to the following claims : —
Claims. Sums Assured. Bonus Additions.
1866 £314,376 3 10 . . . . £48,693 4 8
1867,
1868,
1869,
1870,
306,561 13 6
316,070 15 6
322,117 11 8
333,605 16 4
£1,591,732 10
46,190 13
46,598 17 I
36,649 10 10
42,343 16 1
£220,476 1 8
' In transacting all this business, the Directors have, to the best of their ability, dis-
charged the responsible duties devolved on them. It can weU be imagined that in the
acquisition of so much new business, in the dealings with so many accumulated transactions,
and in the settlement of such a large amount of claims, questions of importance requiring
the exercise of care, judgment, discretion, and liberality have presented themselves ; and
probably the best guage of the success which has attended the management in these respects
is, that so little has been heard of the Company as it pursued its way. The Directors may
at another time refer to the advanced position which this Company has always taken up in
liberalising the conditions of the Assurance Contract, which has greatly facilitated all these
proceedings, but at present they will confine themselves to the simple duty of reporting
progress.'
The Invested Funds exceed £4,000,000 sterling.
The Annual Revenue exceeds £700,000 sterling.
The Revenue Account and Balance Sheet, prepared in accordance with the ' Life
Assurance Companies Act,' 33 and 34 Vict. cap. 61, can be had by application at the
Company's Oflices.
WILL. THOS. THOMSON, Manager.
Edinburgh, 3 George Street,
ApHl 1871.