A paper bearing the title “Life Offices:—in reference to Expenses, New Business, Profit divided, and Competition”, was read before the Institute at its Ordinary Sessional Meeting on 25 March last, and was followed by a discussion, of which a summary is appended hereto.

From the nature of the subject it was necessary that the author should quote from the Board of Trade Returns of the various life offices, and these quotations being in such a form as to enable anyone versed in the business of life insurance to identify in various instances the companies to which they related, it was considered by the Council of the Institute desirable that, acting in conformity with its practice not to give countenance to criticisms upon the affairs of individual life offices, only an abstract of the leading features of the paper should be given instead of printing the paper and tables in extenso.