Towns > Glasgow > 1828-1912 - Post-Office annual Glasgow directory > 1875-1876

ADVERTISEMENTS. 145
ENGLISH and SCOTTISH
LAW LIFE ASSURANCE ASSOCIATION.
ESTABLISHED 1839. CAPITAL— ONE MILLION.
TRUSTEES.
The Right Honourable the Earl of Glasgow.
The Right Hon. Lord Moncreiff, Lord-Justice-Clerk of Scotland.
The Right Hon. James A. Stuart Wortley, Q.C.
The Honourable Mr. Justice Field. William Smythe, Esq., of Methven.
The Honourable Charles Baillie. j Edward Kent Karslake, Esq., Q.C.
AT the THIRTY-FOURTH ANNUAL MEETING, held on 24th February, 1875, the
REVENUE ACCOUNT and BALANCE-SHEETS, prepared in accordance with the
"Life Assurance Companies Act, 1870," and the Reports by the Directors and Auditors, were
read and unanimously approved : —
The New Policies issued during the past year had been, ,..658
Sums Assured thereby, £49 1,780
New Premiums received, 14.895
Sums amounting to £60,150 had been re-assured with other
Offices, at Annual Premiums amounting to £1,567
The Net Income from Premiums and Interest, after deducting Re- Assurance Premiums and
Sums received for the purchase of Annuities, had amounted to... £158,902
Claims by Death had arisen under 142 Life Policies effected on 105 Lives,
the Sums Assured by which, including Bonus Additions, amounted to £97,275
The Life Assurance Fund, exclusive of Proprietors' Capital, amounted to 66 percent, of
the whole Premiums received upon the Subsisting Policies; and the Surplus on the Year's
Transactions, amounting to £38,821, had been added to the Accumulated Funds, which, after
providing for all outstanding Claims and other Sums due, amounted to £863,211
The Policies in Force at Christmas, 1874, were 6159; and the Sums Assured thereby,
including Vested Bonus Additions, amounted to £3,837,266
BONUS YEAR 1875.
IMMEDIATE PARTICIPATION IN PROFITS.
Policies effected during the Present Year on the Participation Scale under full
Annual Premiums will be entitled to
ONE FULL YEAR'S BONUS ADDITION
at the Sixth Investigation and Division of Profits at Christmas 1875.
The PROFITS are ascertained and divided every Five Years; Nine-Tenths (90 Per Cent.) being
appropriated to the Assured. At the Fifth Investigation (Christmas, 1870), Reversionary
Bonus Additions at the rate of £1 10s. per cent, per annum were made to all Sums Assured by
Policies effected on the Participation S^ale for the Whole Term of Life ; — Equivalent Additions
being also made to the Endowment Assurances. The BASIS OF "VALUATION was the Carlisle
Table of Mortality, combined with Three per cent. Interest: — only the "Pure" or "Net"
Premiums being taken into account, and the whole " Loading" reserved as a provision for future
Expenses and Profits. The value of the "Loading" thus reserved was £247,378: a Sum nearly equal
to One-Half of the Net Liability of the Office under its Assurance Contracts.
OFFICES—
120 PRINCES STREET, EDINBURGH, WILLIAM SMITH, LL.D., Manager.
12 WATERLOO PLACE, LONDON, J. HILL WILLIAMS, F.I.A., Actuary.-
G-LASGOW 105 ST. "VTSSTC^USTT STBEET.
JOHN OSWALD, Secretary.