§ 46. Sir B. PETOasked the Chancellor of the Exchequer the amount of profits made for the years 1930 and 1929 by industrial assurance companies; and the amounts paid out to meet claims in the same years?
§ Mr. PETHICK-LAWRENCEThe profit shown by the accounts for 1929 as available for shareholders out of the industrial assurance funds of industrial assurance companies was £1,391,136. The amount excludes any profits allocated to policy holders or reserved for specific purposes, e.g., investment reserves, staff bonuses, etc. During the same year £20,498,196 was disbursed in claims on Death and Maturity and £3,080,621 in Surrenders. As some returns for 1930 are not yet due to be furnished the corresponding figures for that year are not available.
§ 47. Sir B. PETOasked the Chancellor of the Exchequer whether he can give the names of the members and the terms of reference of the committee which he proposes to appoint to report on the law and practice relating to industrial assurance?
§ Mr. PETHICK-LAWRENCEThe Committee on Industrial Assurance which my right hon. Friend has appointed is constituted as follows:
with Mr. B. K. White, Assistant Registrar of Friendly Societies, as Secretary. The terms of reference of the Committee are:
- Sir Benjamin Cohen, K.C., Chairman.
- Mr. John G. Archibald.
- Miss Dorothy Evans, M.A.
- Mr. Fred Kershaw, O.B.E., J.P.
- Mr. Steuart Macnaghten.
- Sir Alfred Watson, K.C.B.
- Mr. J. J. Wills.
- Sir John Fischer-Williams, K.C.
to examine and report on the law and practice relating to Industrial Assurance and to Assurance on the lives of children under 10 years of age, including the question whether any amendment of the law or any addition to it is desirable.