Towns > Glasgow > 1828-1912 - Post-Office annual Glasgow directory > 1876-1877

154 ADVERTISEM&NTS.
ENGLISH AND SCOTTISH
LAW LIFE ASSUEANCE ASSOCIATION.
ESTABLISHED 1839. CAPITAL-ONE MILLION.
TRUSTEES.
The Right Honourable the Earl of Glasgow.
The Eight Hon. Lord Moncreiff, Lord-Justice-Clerk of Scotland.
The Right Hon. James A. Stuart Wortley, Q.C.
The Honourable Mr. Justice Field. I AVilliam Smtthe, Esq., of Methven.
The Honourable Charles Baillie. | Edward Kent Kaeslake, Esq., Q.C.
AT the THIRTY -FIFTH ANNUAL MEETING of the ASSOCIATION, held on
Wednesday, 23rd February, 1876, the REVENUE ACCOUNT and BALANCE-
SHEETS, prepared in accordance with the provisions of the " Life Assurance Companies
Act, 1 870," with Reports by the Directors and Auditors, were read and unanimously approved
and adopted. From these it appeared that : —
The New Policies issued during the past year had been, 793
Sums Assured thereby, £569,555
New Premiums received, 17,654
Re-Assurances to the extent of £134,700 had been effected with other Offices, at
Annual Premiums amounting to £3,150
The Net Income from Premiums and Interest, after deducting Re-Assurance Premiums
and Sums received for the purchase of Annuities, had amounted to £165,885
Claims by Death had arisen under 123 Life Assurance Policies effected on 92 Lives,
the Sums Assured by which, including Bonus Additions, amounted to £80,885
The Invested Funds had yielded a favourable rate of Interest ; and the Life Assurance
Fund, exclusive of Proprietors' Capital, amounted to 67 per cent, of the whole Premiums
Received upon the Subsisting Policies.
The Surplus on the year, amounting to £62,377, had been added to the Accumulated
Funds, which, after providing for all outstanding Claims, amounted to £925,588
The Policies Subsisting at Christmas, 1875, were 6466; and the Sums Assured thereby,
including the Vested Bonus Additions, amounted to £3,989,387
SIXTH DIVISION OF PROFITS.
The Quinquennial Valuation of the Assets and Liabilities of the Association is now in
progress ; and, in order to profit by the most authentic and trustworthy experience in relation
to the Mortality of Assured Lives, the Directors have determined to base it on the Table of
Mortality recently published by the Institute of Actuaries. The result will be reported at
a Special General Meeting to be held before Midsummer.
The ASSOCIATION transacts every description of Life Assurance and Annuity Business, and
also secures Endowments, payable at any period of Life, as Provisions fob Old Age. It combines
Perfect Security to the Assured with Moderate Rates of Premium, careful Selection of
Risks, and liberal and immediate Participation in Profits. The Funds are Securely Invested,
and of Ample Amount.
Nine-Tenths (90 per cent.) of the Profits are divided among the Assured every Five Years.
OFFICES—
120 PRINCES STREET, EDINBURGH, WILLIAM SMITH, LL.D., F.LA., ilfawa^er.
12 WATERLOO PLACE, LONDON, J. HILL WILLIAMS, P.I.A., Actuary.
GLASG0W-105 ST. VINCENT STREET.
JOHN OSWALD, Secretary.