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History of Life Assurance in the United Kingdom

Published online by Cambridge University Press:  18 August 2016

Cornelius Walford
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Extract

The earliest event of the year 1844 was the presentation to Parliament of the “First Report” of the Committee on Joint-Stock Companies, appointed in 1841. The report set out by stating that, as a good deal of the information affecting persons was in the nature of ex parte statements, caution would be required in promulgating it: hence much of the evidence collected would he stated summarily. I shall confine myself here to the passages bearing upon Insurance Associations.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 26 , Issue 6 , October 1887 , pp. 436 - 465
Copyright
Copyright © Institute and Faculty of Actuaries 1887

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References

page 442 note * Mr. Samuel Brown adopted a statement based upon the return of life-policy stamps issued in the year 1849, showing the approximate amounts of the policies so issued :

The total value of stamps sold in the year being £33,689. 7s. 6d., the aggregate of claims paid that year by the British offices was estimated at £2,500,000. The total number of policies in force he estimated to be 300,000, on 225,000 lives—giving 4 policies to every 3 lives insured. The average amount of each policy he estimated at £666.13s, 4d.