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RELACIOD CURATCENT
.ebrat
Het nga ut mõni ad bf on pentela oktaach de 1⁄4 oblong non vo
Lig hitov T V seal of robanette rafholmen *40 ...(^) Hosmereg IV me? od bre (9) toltoan” bros (a) deprem
introduction of any Standard. Not one of the 7 English Actuaries
who were examined were in favour of it.
With regard to your letter No. 4721/1906
to Messrs. Deacon, Looker and Deacon, I may say that we took
steps to place our criticisms before you immediately we receiv-
-ed information that the ordinance was under considération.
Speaking on behalf of the Directors of this
Company, we welcome the action on the part of the Hongkong
Government in passing an "Ordinance regulating Insurance
Companies". One of the chief provisions of the Ordinance is the
deposit required. In January, 1906, the Directors voluntarily
deposited Taels 100,000 in the hands of Trustees, the Trustees
being Alexander McLeod Esq., of Messrs. Gibb, Livingston and
Company, K. Moir, Esq., of the International Banking Corporation
and J. C. Hanson, Esq., of Messrs. Hanson, McNeill and Jones.
This sum is held by them in absolute trust for the policy
holders and it was the Directors' intention to add to this
Fund from time to time.
We are quite willing to submit to any
ordinance which would meet the approval of such a body as the
Institute of Actuaries of London, who would be competent to
judge of the justice or injustice of such ordinance. We respect-
-fully submit that the present Ordinance is not just in all
respects and suggest that our opinion is entitled to considera-
-tion, being, as it is, based on the opinion of experts, this
expert opinion being all in one direction. We suggest that the
Ordinance be submitted to a committee of English Actuaries and
that it be altered in accordance with any amendment they
suggest.
WOLL
n
Labiaar
ni bro anon at erant 10 Lita
unolčnem egy
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BBC no wod ...
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O.NZ .rorita erit
ed. reabroo Jia No erug to bnsĹSCA
1 bra 02 Ana 09
bort
I am etc.,
(Sa.)J. A. Wattie,
Managing Director.