§ Sir HAROLD ELVERSTONasked the President of the Board of Trade whether 2275W any direct life assurance business is now transacted by Lloyd's underwriters; and if so, whether the deposits of £2,000 required by the Assurance Companies Act of 1909 have been made, and statements showing the extent and character of the business transacted have been deposited with the Board of Trade?
Mr. BUXTONNo deposits have been made and no accounts have been furnished by any Lloyd's underwriters in respect of life assurance business. So far as I am aware, no life assurance business in the ordinary sense is transacted by Lloyd's underwriters, and although policies insuring against losses which might arise indirectly owing to death may possibly have been underwritten from time to time, I have no information as to the terms of any such policies.
§ Sir H. ELVERSTONasked the President of the Board of Trade if he will state how many Lloyd's underwriters have complied with the requirements laid down in Schedule 8, paragraphs B and C (1) (b), of the Assurance Companies Act as regards the furnishing to the Board of Trade of a statement showing the extent and character of the business effected by him; and how many Lloyd's underwriters, in lieu of complying with paragraph B (1) (a) and (b), have elected to comply with paragraphs B and C (2) of the Schedule and supply to the Board of Trade an auditor's certificate in lieu of a full statement showing the extent and character of the business transacted?
Mr. BUXTONNo Lloyd's underwriters have furnished the Board of Trade with a statement showing the extent and character of the business effected by them, in accordance with Schedule 8 (B) and (C) (1) (b) of the Assurance Companies Act, 1909. Five hundred and eleven Lloyd's underwriters elected to comply with the alternative requirements contained in Schedule 8 (B) and (C) (2), and furnished the Board with auditors' certificates. Seven of those underwriters have died or resigned.
§ Sir H. ELVERSTONasked the President of the Board of Trade what was the total amount of the premiums received during the year 1911 by Lloyd's underwriters in respect of accident and fire insurance contracts?
Mr. BUXTONI regret that I am unable to furnish the information asked for.
2276W
§ Sir H. ELVERSTONasked the President of the Board of Trade if he will state what is the amount of the deposits, if any, furnished in accordance with the Eighth Schedule (b) and (c), 2 (3) of the Assurance Companies Act, 1909, by Lloyd's underwriters as security for the due fulfilment of their fire and accident insurance contracts; the amount of the security furnished in the form of guarantees; and whether any of the guarantees which may be furnished as an alternative to a deposit are given by persons who are not members, of Lloyd's Underwriters' Association, and, if so, to what extent?
Mr. BUXTONThe amount of the deposits furnished in accordance with Schedule 8 (b) and (c), 2 (b) of the Assurance Companies Act, 1909, by Lloyd's underwriters as security for claims in connection with fire and accident and other non-marine business is £207,000. The amount of the security furnished in accordance with the provisions referred to in the form of guarantees, is £3,376,740, and of this amount guarantees to the extent of £491,530 have been given by guarantors who are not members of Lloyd's.