20
TABLE XI—Contd.
Name of Company
Statutory
Deposit Required
Nature of Securities Deposited
Middle Market Market Value
Price on 31st March, 1959
as at 31st March, 1959
TVI IN
$
Brought forward
W
1.368,044.75
Brought forward
1,119,738.67
United States Life Insurance Co. in the City
of New York Ltd.
200,000.00
$200,000 34% H.K. Govt. Rehabilitation Loan,
1948
82
164,000.00
West Coast Life Insurance Co.
--
200,000.00
£6,875 Fixed Deposit with H,K, & S. Bank, H.K,
$10,000 Fixed Deposit with H.K. & S. Bank, H.K.
£5,000 31% War Loan, 1952 or after
110,000,00
10,000.00
673
54,000.00
Wing On Life Assurance Co., Ltd.
200,000.00
$200,000 Deposit at call with H.K. & S. Bank,
H.K.
200,000.00
$1,968,044.75
$1,657,738.67
Notes:
* Under the Life Insurance Corporation Act, 1956, of the Indian Legislature, the Life Insurance Corporation of India has taken over the entire business of the Bombay Life Assurance Co., Ltd. and the life insurance business of the National Insurance Co., Ltd. which, however, continues in existence as a separate entity carrying on other types of insurance business. Since the end of the year, the Life Insurance Corporation of India has been exempted from having to maintain any deposit other than the said deposits of the Bombay Life Assurance Co., Ltd. and the National Insurance Co., Ltd. which ure carmarked in respect of the life insurance business of these companies.
†The Company has deposited in respect of marine and life business £20,000 31% War Loan 1952 or after (see Table X) and on 1st April, 1959,—$80,000 on fixed deposit. It is being asked to agree to an allocation between the two classes of business.
Groes amount payable on outstanding policies at last actuarial valuation on 31.12.51.
W. K. THOMSON, Registrar General,
(Registrar of Companies). 27th June, 1959.
The above List has been examined in accordance with Colonial Regulation 257. I have obtained all the information and explanations that I have required, and I certify, as a result of this audit, that in my opinion the List is correct.
AUDIT DEPARTMENT,
Hong Kong, 3rd July, 1959
་
W. H. WILLIAMS, Acting Director of Audit.