The subject of Insurance, theoretical and practical, has been so copiously and minutely discussed of late, especially in Lectures and Essays, that serious perplexity awaited me when I began to meditate upon my Introductory Address. I felt, under these circumstances, that a Paper constructed on the usual lines must either weary you with tedious repetition or discredit myself with the reproach of platitudes. I accordingly determined to see whether I could not,—at all events, partially,—succeed in adding some novelty and interest to our proceedings by an attempt to ascertain whether the vast Doctrine of Evolution applied in any valid degree to the business in which we are engaged. Such an investigation possesses at least the merit,—however I may fail in my exposition,—of appealing to the sympathy and thought of all concerned in the several Departments of our common work, for results which may be found to bear upon Life Assurance will also, mutatis mutandis, apply to other Branches. I confess, moreover, that the subject strongly attracted my attention on the ground that an enquiry of this interesting character had not previously been attempted.