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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, 1958
Name of Company
Statutory Deposit Required
Nature of Securities Deposited
Middle Market
Market Value Price on
as at 31st March, 31st March, 1958.
1958
$
American International Reinsurance Co., Inc. ...
50,000.00
Bombay Life Assurance Co., Ltd. *
50,000.00
China Hong Nin Life Insurance Co., Ltd.
200,000.00
$50,000 Fixed Deposit with H.K. & S. Bank, H.K. Stg. £4,000 34% War Loan 1952 or after $16,250 Fixed Deposit with H.K. & S. Bank, H.K. $210,000 34% H.K. Govt. Rehabilitation Loan,
1948
50,000.00
65
41,920.00
16,250.00
821
172,725.00
Home Security Life Insurance Co., Ltd.
200,000.00
$3,000 Fixed Deposit with H.K. & S. Bank, H.K. Stg. £2,500 3% Defence Bonds (5th Issue) Stg. £5,500 31% War Loan, 1952 or after Stg. £4,900 3% War Loan, 1955/59
3,000.00
100
40,000.00
65
57,640.00
974
76,440.00
Life Insurance Corporation of India. See Note *
50,000.00
Luk Hai Tong Life Assurance Co., Ltd.
National Insurance Co., Ltd. *
5,100.087 50,000.00
Occidental Life Insurance Co. of California
200,000.00
Public Life Assurance Co., Ltd.
50,000.00
Sincere Life Assurance Co., Ltd.
200,000.00
$50,000 Deposit at call with H.K. & 5. Bank, H.K. $6,000 Deposit at call with H.K. & S. Bank, H,K. Stg. £3,300 3% Savings Bonds 1960/70 Stg. £12,500 Canada 31% Registered Stock, 1958/63 Stg. £4,900 34% War Loan, 1952 or after $200,000 Deposit at call with H.K. & S. Bank,
H.K.
50,000.00
6,000.00
761
40,392.00
90%
181,000.00
651
51,352.00
Tai Ping Life Insurance Co., Ltd.
50,000.00
United States Life Insurance Co. in the City
of New York, Ltd.
200,000.00
117
$50,000 Fixed Deposit with H.K. & S. Bank, H.K.
$200,000 31% H.K. Govt. Rehabilitation Loan,
1948
| !
200,000.00
50,000.00
821
164,500.00
West Coast Life Insurance Co.
200,000.00
Stg. £6,875 Fixed Deposit with H.K. & S. Bank,
H.K.
110,000.00
Wing On Life Assurance Co., Ltd.
200,000.00
$10,000 Fixed Deposit with H.K. & S. Bank, H,K. Stg. £5,000 3% War Loan, 1952 or after $200,000 Deposit at call with H.K. & S. Bank,
H.K.
10,000,00
65+
52,400.00
+
200,000.00
$1,705,100.08
$1,573,619.00
Notes:
* These Companies are in course of being amalgamated with the Life Insurance Corporation of India following upon the nationalization of life insurance in India. The Corporation's deposit will be subject to augmentation on the filing of its first accounts.
† Gross amount payable on outstanding policies at last actuarial valuation on 31.12.51.
This deposit has since been augmented by $62,944.67 to comply with Section 3(2) of the Ordinance.
W. K. THOMSON, Acting Registrar General, (Registrar of Companies). 26th September, 1958.
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.
AUDIT DEPARTMENT,
Hong Kong, 30th September, 1958.
W. H. WILLIAMS, Acting Director of Audit."
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