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TABLE XI
LIST OF DEPOSITS MADE WITH THE REGISTRAR GENERAL BY LIFE INSURANCE COMPANIES UNDER THE LIFE INSURANCE COMPANIES ORDINANCE (CAP. 36) AS AT 31ST MARCH, 1957
Name of Company
American International Reinsurance Co., Inc. Bombay Life Assurance Co., Ltd.
China Hong Nin Life Insurance Co., Ltd.
Statutory De- posit Required $ 50,000.00 50,000.00† 200,000.00
Nature of Securities: Deposited
Market Value
Fixed deposit with H.K. & S. Bank, H.K.
as at 31.3.57 $ 50,000.00
£4,000 34% War Loan.......
47,040.00
$210,000 31% H.K. Govt. Rehab. Loan (1948). $184,275.00 Mortgage of M.L. 461 & I.L. 2865 to secure
$200,000.00,
200,000,00
384,275.00
Home Security Life Insurance Co., Ltd.
200,000.00
Fixed deposit with H.K. & S. Bank, H.K, £2,500 3% Defence Bonds (5th issue)
$ 3,000.00
40,000.00
£5,500 31% War Loan
64,580,00
£4,900 3% War Loan 1955/59
76,048.00
183,728.00
Life Insurance Corporation of India.
50,000.00
Deposit at call with H.K. & S. Bank, H.K.
50,000.00
Luk Hoi Tung Life Assurance Co., Ltd. (No longer
carrying on Life Assurance business).
5,100.08*
National Insurance Co., Ltd.
50,000.00†
Occidental Life Insurance Co. of California
200,000.00
Sincere Life Assurance Co., Ltd.
200,000.00
Tai Ping Life Insurance Co., Ltd....
50,000.00
Deposit at call with H.K. & S. Bank, H.K. £3,300 3% Savings Bonds 1960/70.. £12,500 Canada 31% Registered (1958-63), Deposit at call with H.K. & S. Bank, H.K. Mortgage of I.L. 2980 to secure $200,000,00 Fixed deposit with H.K. & S. Bank, H.K.
6,000.00
41,976.00
187,000.00
$200,000.00
200,000.00
400,000.00
50,000.00
United States Life Insurance Co. in the
City of New York Ltd.
200,000.00
West Coast Life Insurance Co.
200,000.00
$200,000 34% H.K. Govt. Rehab, Loan (1948) £6,875 Fixed deposit with H. K. & S. Bank, H. K. $110,000.00 £5,000 31% War Loan
175,500.00
58,800.00!
Wing On Life Assurance Co., Ltd.
200,000.00
$10,000 31% Hong Kong Govt. Loan 1934 Deposit at call with H.K. & S. Bank, H.K.
8,825.00
177,625.00
200,000.00
$1,953,144.00
* Gross amount payable on outstanding Policies at last actuarial valuation, 31.12.51.
† Subject to augmentation in accordance with Sec. 3(2) of the Life Insurance Companies Ordinance.
(Sd.) W. ANEURIN JONES,
Registrar General, (Registrar of Companies). 12th August, 1957.
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, subject to the following observations,
2. In several cases the market value of the securities at 31st March was again below the amount of the statutory deposit required.
3. In the two cases where the deposit was previously secured by mortgage, the company later deposited approved securities.
AUDIT DEPARTMENT,
Hong Kong, 15th August, 1957.
(Sd.) F. E. L. CARTER, Director of Audit.
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