HC Deb 17 April 1913 vol 51 cc2108-9

asked the right hon. Gentleman the result of the inquiry instituted into the financial condition of the United National Friendly Assurance Collecting Society; the number of persons insured; the total amount collected from them; the total expenditure; the total liabilities incurred; the amount secured to meet those liabilities; the nature and value of any security given by officers for fidelity, and by whom held; the amount of the endowment policies due to mature in 1914; whether the society continues collecting and canvassing in Ireland; whether approval has been withdrawn from the society worked by it under the National Insurance Act; and whether he will institute an actuarial investigation into this society's affairs?


The complaints made by my hon. Friend and others with regard to this society have been the subject of investigation, as promised in the answer given to him on 1st January. No such irregularities have been disclosed as would justify the withdrawal of approval under Section 29 of the Insurance Act from the United National Friendly Approved Society, which is a separate section conducting business under the Insurance Act under conditions which keep the finances absolutely distinct from those of the collecting society; but the affairs of the society will continue to be under the observation of the Commissioners and the auditors. The return of the collecting society for 1912 has not yet been received, and is not finally due until 31st May next. Particulars as to the assets and liabilities of the society, as shown in the Return for 1911, were given to my hon. Friend in the answer of 1st January. I have no knowledge of the other matters referred to in the question and no power to institute an actuarial investigation into the affairs of the collecting society.