CO129-346 - Governor Sir Lugard - 1908 [1-3] — Page 178

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Since writing you on the subject, I have

come across a copy of the opinion of Mr. George King on Life

Assurance, legislation, and herewith enclose copy of his

answer to one of the questions put to him by Mr. T. B. Macaulay,

who wrote him on the subject in view of the proposed assurance

legislation in Canada. Mr. George King is a fellow of the

Institute of Actuaries, and a Fellow of the Faculty of Actuaries

in Scotland. He has been Chairman of the Life Office Association

and Vice-President of the Institute of Actuaries; editor of the

Journal of Actuaries: editor of the Post Magazine: the author

of the text book of the Institute of Actuaries, the recognised

text book in all languages on the principles of insurance. He has moreover, made a study of life assurance legislation, both

in England and in foreign countries, from the point of view of

public and not in the interests of particular Companies. His

evidence before the select committee of the House of Lords on

Life Insurance Companies was listened to with attention, and

carried great weight. He was, in fact, the only witness whom

the Chairman specially thanked. In his evidence he spoke of a

#tandard of solvency as being very mischievious.

I have given these details about Mr. King

because they show that his opinion should carry great weight.

In my opinion Mr. King is the leading Actuary of the present

day, and I think that this opinion would be shared by the great

majority of people engaged in acturial work.