§ Sir W. JOYNSON-HICKSasked the President of the Board of Trade whether the Law Officers of the Crown advised the Board as long ago as 1914 that all re-insurance companies had to make a deposit of £20,000; and how many English and Foreign companies, respectively, have since that date made the deposit?
§ Sir A. GEDDESIn May, 1914, the Board of Trade were advised that the definitions of Life assurance business, fire insurance business, accident insurance business and employers' liability insurance business contained in Section 1 of the Assurance Companies Act, 1909, included re-insurance business whether under treaties or any other arrangements. A company which had commenced to transact re-insurance business of the classes mentioned, other than life assurance business, before 131-re date of the passing of the Assurance Companies Act, 1909, is not liable to make a deposit of £20,000. Since May, 1914, forty English companies and seven British Colonial companies have made a deposit of £20,00g, but I am unable to state whether the business of any of those companies is confined to re-insurance business. No foreign insurance company has made a deposit of £20,000.