The scope of Insurance has within the past few years widened to such an extent that it is no longer sufficient for a member of the profession to be an expert in his own particular section. By the process of amalgamation the modern Composite Company has come into existence, and the time is past when a keen member of the Staff of a large Insurance Company is content to sit in the self-contained section of his Office—Life, Fire, or Accident—and not to know what is going on outside his own water-tight Department.

It is not an easy matter for Life Insurance Companies nowadays to find remunerative investments for their funds, with Income Tax at its present figure, and although large sums are invested in Stock Exchange Securities, which do not come within the scope of this paper, further large amounts are advanced on security of mortgages of property, reversions, life interests, Stocks and Shares, etc., etc., and it is with these advances that I propose to deal.