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Article GENERAL MEETINGS. ← Page 9 of 14 →
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General Meetings.
wdio , although still with us , is scarcely of us . Pie and our friend Gompertz stand , as it were , midway between those who have been , and those who are . I might hesitate to select from amongst you any one name for especial notice , did not the universal finger of the profession point to one man—Mr . Griffith Davies ! the senior Actuary of any life assurance society , and , with the exception of our President , the senior member of the profession . You will all remember thatat the
, first meeting of the Institute , I had the honour to move a vote of thanks to Mr . Griffith Davies for kindly assistance in the formation of our institute . That meeting was indisposed to mark its gratitude to Mr . Davies by the mere evanescent record of a vote of thanks ; your Vice-Presidents were therefore instructed to prepare a suitable address , to be presented to Mr . Davies . This is the testimonial which your Vice-Presidents have preparedand it is to the happy accident of having on
, the first occasion moved the vote of thanks , that I owe the honour of presenting this address to Mr . Davies . Mr . Davies , iu accepting this handsome tribute of respect , was evidently labouring under strong emotion . Several gentlemen were then balloted for , and unanimously elected as new members .
RELIANCE MUTUAL LIFE ASSURANCE SOCIETY . —On the 30 th January , the half-yearly -meeting was held at the offices , King William-street , Henry T . Prinsep , Esq ., in the chair . The Actuary and Secretary , E . Osborne Smith , Esq ., read the report , which stated that the growth of business is regular in progression , with a considerable advance in the rate of improvement , and that the business is of the best description . The number of policies taken out in the past yearas well as the amount assured , exceeds that of the proceeding
, , while the lapses through discontinuance of payments have been fewer . Upon the estimates of mortality , which are the basis of the Reliance tables , the probable claims for the year 1848 , were 2 , 273 / . Taken for the whole period since the establishment in 1841 , they have been estimated at 10 , 266 / ., but while the claims were nil in 1848 , they have only amounted in the prior years to 3 , 350 , affording a test of care in the selection of lives . The Directors have always prepared for adverse
fluctuation of the chances of life ; so much so , that at the last allocation of profits , in March , 1847 , they set apart the sum of 3 , 500 / . to meet such probable change of fortune . Only 2 , 200 / . of this sum has been claimed , and it will be a singular coincidence if , at the next allocation of profits , the amount reserved shall be found to have met all the claims of the triennial period . The chairman referred to the factthat not a single life had dropped
, , during the past year , as affording proof of the medical skill of Dr . Water-field , its physician . Proposals to the amount of 29 , 000 / . had been declined , or not proceeded with at the rates required ; that notwithstanding there had been a considerable increase in new policies . He adverted to the soundness of their calculations , as * evinced by the fact , that though a liberal bonus was allocated at the first period for distribution , if the society were now desirous of reassuring the holders of their
policies at their present ages , the same might be done , leaving a profit of 10 , 000 / . The Chairman concluded by exhorting every member to use his utmost exertions to bring as much business as possible to the office . The customary acknowledgments of services were rendered , and warmly responded to .
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
General Meetings.
wdio , although still with us , is scarcely of us . Pie and our friend Gompertz stand , as it were , midway between those who have been , and those who are . I might hesitate to select from amongst you any one name for especial notice , did not the universal finger of the profession point to one man—Mr . Griffith Davies ! the senior Actuary of any life assurance society , and , with the exception of our President , the senior member of the profession . You will all remember thatat the
, first meeting of the Institute , I had the honour to move a vote of thanks to Mr . Griffith Davies for kindly assistance in the formation of our institute . That meeting was indisposed to mark its gratitude to Mr . Davies by the mere evanescent record of a vote of thanks ; your Vice-Presidents were therefore instructed to prepare a suitable address , to be presented to Mr . Davies . This is the testimonial which your Vice-Presidents have preparedand it is to the happy accident of having on
, the first occasion moved the vote of thanks , that I owe the honour of presenting this address to Mr . Davies . Mr . Davies , iu accepting this handsome tribute of respect , was evidently labouring under strong emotion . Several gentlemen were then balloted for , and unanimously elected as new members .
RELIANCE MUTUAL LIFE ASSURANCE SOCIETY . —On the 30 th January , the half-yearly -meeting was held at the offices , King William-street , Henry T . Prinsep , Esq ., in the chair . The Actuary and Secretary , E . Osborne Smith , Esq ., read the report , which stated that the growth of business is regular in progression , with a considerable advance in the rate of improvement , and that the business is of the best description . The number of policies taken out in the past yearas well as the amount assured , exceeds that of the proceeding
, , while the lapses through discontinuance of payments have been fewer . Upon the estimates of mortality , which are the basis of the Reliance tables , the probable claims for the year 1848 , were 2 , 273 / . Taken for the whole period since the establishment in 1841 , they have been estimated at 10 , 266 / ., but while the claims were nil in 1848 , they have only amounted in the prior years to 3 , 350 , affording a test of care in the selection of lives . The Directors have always prepared for adverse
fluctuation of the chances of life ; so much so , that at the last allocation of profits , in March , 1847 , they set apart the sum of 3 , 500 / . to meet such probable change of fortune . Only 2 , 200 / . of this sum has been claimed , and it will be a singular coincidence if , at the next allocation of profits , the amount reserved shall be found to have met all the claims of the triennial period . The chairman referred to the factthat not a single life had dropped
, , during the past year , as affording proof of the medical skill of Dr . Water-field , its physician . Proposals to the amount of 29 , 000 / . had been declined , or not proceeded with at the rates required ; that notwithstanding there had been a considerable increase in new policies . He adverted to the soundness of their calculations , as * evinced by the fact , that though a liberal bonus was allocated at the first period for distribution , if the society were now desirous of reassuring the holders of their
policies at their present ages , the same might be done , leaving a profit of 10 , 000 / . The Chairman concluded by exhorting every member to use his utmost exertions to bring as much business as possible to the office . The customary acknowledgments of services were rendered , and warmly responded to .