619479-1931-The-China-Hong-Nin-Life-Insurance-Co--Ltd--Report-of-the-registrar-of-Companies-on — Page 1

THE HONG KONG GOVERNMENT GAZETTE, AUGUST 28, 1931. 599

SUPREME COURT.

THE CHINA HONG NIN LIFE INSURANCE COMPANY, LIMITED.

No. 548. Report of the Registrar of Companies, under Section 18 of the Life Insurance Companies Ordinance, 1907, (Ordinance No. 11 of 1907), upon the Valuation and Report of Mr. Herbert R. Sturt, F.I.A., for the five years ending 20th March, 1930.

The Valuation Balance Sheet made up to the 20th March, 1930, shows liabilities $1,313,385.59 and assets $2,090,095.53, a surplus in assets of $776,709.94. This included the profit brought forward from the previous valuation as on 20th March, 1925. The surplus as on 20th March, 1925 was $674,792.35 of which the undermentioned amounts have been paid out during the quinquennium ending 20th March, 1930 as per Consolidated Revenue Account.

(a) Dividends and Bonus to shareholders

$261,100.45

(b) Dividends on policies which have become claims. 143,712.32 (c) Bonuses to Policyholders other than guaranteed.. (d) Carried to Reserve

21,500.00 102,928.89

$529,241.66

Leaving a balance of surplus brought forward of.

$145,550.69

The Profit during the quinquennium was therefore

631,159.25

Of this the following amounts are to be paid:

·------

(a) Interest at 10% p.a. on the paid up capital of $234,000....

117,000.00

Leaving a balance of

$514,159.25

(b) 25% to Founders

$128,539.81

(c) 10% to Shareholders..

(d) 25% to Reserve

51,415.93

128,539.81

$308,495.55

Leaving a balance of profit for quinquennium

$205,663.70

Add balance of surplus brought forward from 1925 valuation

145,550.69

This gives a sum to be carried forward of

$351,214.39

to provide for:---

(a) Dividends on policies which have become claims after 20th

March, 1930.

(b) Future Bonuses on policies maturing subsequent to 20th

March, 1930.

18th August, 1931.

E. P. H. LANG, Registrar of Companies.