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THE QUEEN INSURANCE COMPANY (continued).
It has been well remakked, that intending Assurers ought to satisfy themselves
thoroughly in regard to a Company's real and available resources, before committing them-
selves to so serious a thing as a Life Contract with it.
The following facts will enable Policy-holders and the Public to judge for themselves as to
the sound and secure position of the Queen Insurance Company, and the Directors feel that in
giving the fullest publicity to its affairs they are taking a course calculated to increase the
confidence and support which the Company has already extensively enjoyed.
The Life Accumulation Fund, close of Quinquennium, 31st Dec, 1868, stood at £110,153
While the Acturial Investigation, based upon a 3 per cent, net Premium
valuation, shewed the sum of ... 83,545
to be sufficient to cover all the Life engagements of the Company; but the Directors, for their
further satisfaction and that of the Policy-holders, requested Samuel Brown, Esq., President
of the Institute of Actuaries, to examine into and Certify the Investigation that had been
made by the Company's own Actuary, and it is gratifying to the Directors to be able to place
in the hands of the Policy-holders the annexed very satisfactory Report by Mr Brown.
A record of the Valuations, in detail, is kept at the Chief Office for reference, which may
be inspected when desired by any Policy-holder or Shareholder.
To render the present Statement more complete, the Directors add the following informa-
tion in regard to the Funds and Securities of the Company.
The Authorised Capital is £2,000,000
The Capital actually Subscribed 1,798,000
The Paid-up Capital 179,800
The Fire Reserve Fund 80,000
The Funds of the Company after making provision for all Outstanding, Adjusted,
or Unadjusted Claims and Accounts, at the close of the Year, were £385,894
£128,670 of the above sum was invested in the real Property of the Company.
£105,620 Advanced on Landed Securities and Real Estate, subject to from 3 to 6 month*'
notice.
£45,195 Invested in Securities sanctioned by Acts of Parliament, viz. : in the Bonds of Local
Boards and Corporations, of the Mersey Docks and Harbour Board, and of the London
and North- Western Railway Company.
£34,206 in United States Government Bonds, Interest and Principal payable in Gold.
£20,905 in Canadian Government Bonds and Stock.
£7,720 Advanced on the values of the Company's Life Policies.
£3,256 on Personal Security in connection with Life Policies.
£11,239 on Mortgages, &c, of Reversions.
Cash at Bankers, £23,000.
The Amount immediately available to meet claims is much beyond what any experience
has shown to be necessary.
Finally - -
The Books and Accounts are and always have been subjected to a continuous audit, in detail,
by a public auditor appointed by the Shareholders.
By Order, J. MONCRIEFF WILSON,
General Manager.
Liverpool, 26th October, 1869.
THOS. WALTON THOMSON,
Sub-Manager.
Report of SAMUEL BB0WN, Esq., President of the Institute of Actuaries.
Gentlemen,
I have carefuUy examined the Last Life Investigation of the Queen
Insurance Company to 31st December, 1868, and had the advantage of Mr J. Moncrieff Wilson's
\ clear full explanations of the method on which it has been conducted.
/ It appears that the valuation has been made for all classes of Assurances by the Carlisle
I Table of Mortality, and at only three per cent. Interest, thus assuming a rate of Mortality which
corresponds very nearly with the best recorded experience of Life Assurance Companies, and
reckoning upon a rate of interest which, both by past experience and the probable future, is
likely to be very considerably exceeded on the whole Investments of the Company.
It is important also to observe, that as the Net Premiums only have been valued, all the
Excess of Future Premiums actually charged in the Policies over what would be charged by the
Carlisle 3 per cent. Table of pure Premiums has been reserved for future Divisions of profits,
and no portion of Profit has been brought into account except that actually realised at the date
of Valuation.
Every care has. been taken to ensure accuracy. All the computations have been worked in
duplicate to ascertain the value for each Policy separately, and according to the number of
j^& Continued on foregoing page
It has been well remakked, that intending Assurers ought to satisfy themselves
thoroughly in regard to a Company's real and available resources, before committing them-
selves to so serious a thing as a Life Contract with it.
The following facts will enable Policy-holders and the Public to judge for themselves as to
the sound and secure position of the Queen Insurance Company, and the Directors feel that in
giving the fullest publicity to its affairs they are taking a course calculated to increase the
confidence and support which the Company has already extensively enjoyed.
The Life Accumulation Fund, close of Quinquennium, 31st Dec, 1868, stood at £110,153
While the Acturial Investigation, based upon a 3 per cent, net Premium
valuation, shewed the sum of ... 83,545
to be sufficient to cover all the Life engagements of the Company; but the Directors, for their
further satisfaction and that of the Policy-holders, requested Samuel Brown, Esq., President
of the Institute of Actuaries, to examine into and Certify the Investigation that had been
made by the Company's own Actuary, and it is gratifying to the Directors to be able to place
in the hands of the Policy-holders the annexed very satisfactory Report by Mr Brown.
A record of the Valuations, in detail, is kept at the Chief Office for reference, which may
be inspected when desired by any Policy-holder or Shareholder.
To render the present Statement more complete, the Directors add the following informa-
tion in regard to the Funds and Securities of the Company.
The Authorised Capital is £2,000,000
The Capital actually Subscribed 1,798,000
The Paid-up Capital 179,800
The Fire Reserve Fund 80,000
The Funds of the Company after making provision for all Outstanding, Adjusted,
or Unadjusted Claims and Accounts, at the close of the Year, were £385,894
£128,670 of the above sum was invested in the real Property of the Company.
£105,620 Advanced on Landed Securities and Real Estate, subject to from 3 to 6 month*'
notice.
£45,195 Invested in Securities sanctioned by Acts of Parliament, viz. : in the Bonds of Local
Boards and Corporations, of the Mersey Docks and Harbour Board, and of the London
and North- Western Railway Company.
£34,206 in United States Government Bonds, Interest and Principal payable in Gold.
£20,905 in Canadian Government Bonds and Stock.
£7,720 Advanced on the values of the Company's Life Policies.
£3,256 on Personal Security in connection with Life Policies.
£11,239 on Mortgages, &c, of Reversions.
Cash at Bankers, £23,000.
The Amount immediately available to meet claims is much beyond what any experience
has shown to be necessary.
Finally - -
The Books and Accounts are and always have been subjected to a continuous audit, in detail,
by a public auditor appointed by the Shareholders.
By Order, J. MONCRIEFF WILSON,
General Manager.
Liverpool, 26th October, 1869.
THOS. WALTON THOMSON,
Sub-Manager.
Report of SAMUEL BB0WN, Esq., President of the Institute of Actuaries.
Gentlemen,
I have carefuUy examined the Last Life Investigation of the Queen
Insurance Company to 31st December, 1868, and had the advantage of Mr J. Moncrieff Wilson's
\ clear full explanations of the method on which it has been conducted.
/ It appears that the valuation has been made for all classes of Assurances by the Carlisle
I Table of Mortality, and at only three per cent. Interest, thus assuming a rate of Mortality which
corresponds very nearly with the best recorded experience of Life Assurance Companies, and
reckoning upon a rate of interest which, both by past experience and the probable future, is
likely to be very considerably exceeded on the whole Investments of the Company.
It is important also to observe, that as the Net Premiums only have been valued, all the
Excess of Future Premiums actually charged in the Policies over what would be charged by the
Carlisle 3 per cent. Table of pure Premiums has been reserved for future Divisions of profits,
and no portion of Profit has been brought into account except that actually realised at the date
of Valuation.
Every care has. been taken to ensure accuracy. All the computations have been worked in
duplicate to ascertain the value for each Policy separately, and according to the number of
j^& Continued on foregoing page
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Scottish Post Office Directories > Towns > Glasgow > Post-Office annual Glasgow directory > 1870-1871 > (984) |
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Permanent URL | https://digital.nls.uk/84404635 |
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Description | Directories of individual Scottish towns and their suburbs. |
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Description | Around 700 Scottish directories published annually by the Post Office or private publishers between 1773 and 1911. Most of Scotland covered, with a focus on Edinburgh, Glasgow, Dundee and Aberdeen. Most volumes include a general directory (A-Z by surname), street directory (A-Z by street) and trade directory (A-Z by trade). |
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