The author reviews the progress of the past fifty years from various angles, touching upon changes brought about by the development of mechanical aids and improved valuation methods as affecting work in a life office; the growth of the business in force; changes in the character of the risks underwritten; the trend from With to Without profit Tables and the movement in premium rates.

Investment problems; rate of interest and income tax; mortality; extra rating and policy conditions are also discussed.

The review of the foregoing has reference to ordinary life assurance, but the author concludes his paper with brief references to industrial assurance and national insurance.