OP Y.
198
Shanghai, 27th.November, 1907.
94 ut caerland ob con aggh et saiteos/ estas nae
borreo
ani ang sal** to tea and Syed ve, d2 and
Sale at det durah &
.benne erre nt date for of $
0 on bura
*
J. A. Wattie, Esq.,
nl
marido quakter,benotzner sba[3 2/
Managing Director,
China Mutual Life Insurance Company.
Sud
he'd nogn besosq od nen skalollino
SIREN ter sta ovode movie angrth
dasd add wruget et moreultai ”e unter to tosife erð Mile tartar
(8)
val Idieseg
Dear Sir,
I am in receipt of your favour of 13th.
instant asking me for a report upon the new Hongkong Ordinance
relating to Life Insurance Companies entitled "The Insurance
Companies Ordinance, 1906".
To consider the subject properly it seoma
事
to me that the question divides itself under two headings:
1st. The advisability or desirability of stringent Govern-
-ment Supervision in the case of Life Insurance
Companies.
2nd. Assuming the desirability of some such supervision
the consideration of the question how far the present
Ordinance meets the case and what objections there are
to it in its present form.
To discuss the question under the first
heading thoroughly would occupy considerably more time than I
have at my disposal and probably in view of the fact that the
Ordinance has already become law the benefits derived from the
discussion would be incommensurate with the labour involved.
I think it as well however to point out
briefly a few of the chief points in connection therewith.
Every British Actuary is strongly of opinion that the less Insurance Companies are interfered with by legislation the better, provided they are compelled to give the fullest publici-
-ty to their methods and the conduct of their business; and
this has been the practice with regard to British Insurance Companies for the past 30 years, and it must be conceded that the history of Life Insurance in Great Britain during that
period