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The Colonial Mutual Life Assurance Society, Limited
Published online by Cambridge University Press: 18 August 2016
Abstract
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- Type
- Home and Foreign Intelligence
- Information
- Copyright
- Copyright © Institute and Faculty of Actuaries 1882
References
page 368 note * Mr. Thomson says, in Ms report:—The leading features of the canon laid down by these gentlemen were (1) the adoption of four per-cent per annum interest in all the valuations; (2) the use of the tables published under the auspices of the Institute of Actuaries, known in the profession as the HM (or healthy males) tables (now regarded as a standard by the profession), throughout:—except (3) in case of endowments, mostly to children on arriving at majority, and present annuities, chiefly on the lives of persons far advanced in years. In respect of these the use of the Carlisle Table was recommended, and it has accordingly been applied; (4) that no risk of the Society should be taken to account as an asset. This cannot arise when a valuation is made on sound principles. Although methods have occasionally been adopted by some offices bringing out such results, they are quite indefensible, inasmuch as they introduce negative values, the effect of which is to exhibit results less or more illusory as to the present position of an office, and therefore tending to future disappointment, and, to some degree, to injustice between member and member; (5) that a small portion of the future loading may be attached for the equalization of the heavy initial expenses as compared with the lighter ones of future years.