The following notes are for the most part based upon the actual valuation of a registered friendly society and an attempt is made to describe the various operations involved and the points which arise for consideration, from the time the actuary (or valuer as he is commonly known in friendly society circles) is approached, to the time he signs his report and presents it to the society. I have, however, digressed occasionally from the main subject of these notes in order to express my views on certain general points which frequently arise in the valuations of friendly societies. It should be understood that these notes do not necessarily embody official opinion.

The specimen society is a typical “centralised” rural society (i.e. without branches) of about 1,000 members, their occupations being described as domestic, horticultural and agricultural.