§ Lieut. - Commander KENWORTHYasked the Chancellor of the Exchequer (1) whether his attention has been called to the fact that on 31st December, 1919, the Prudential Assurance Company had in force in their industrial branch 751,887 so-called war bond policies, which policies were as a matter of fact not war bond policies but industrial branch policies; is he aware that this company were at the end of 1919 receiving a premium income of £2,260,493 on these policies without there being any risks attached to the policies; and what action does he propose to take in this matter?
(2) whether he can inform this House how many war bond policies had been issued to the industrial branch of the Prudential Assurance Company, Limited, under their various tables, up to 30th June, 1920; how many such policies were then in force; how many such policies had lapsed, and how much had been paid in premiums on such lapsed policies; and what has become of the premiums paid by the holders of these policies?
Mr. CHAMBERLAINAs far as I am aware, these war bond policies are in fact war bond policies, that is, a particular form of endowment policy payable at the option of the holder in war stock or bonds or in the cash equivalent at issue price, and involve the issuing company in all the usual insurance risks. I see no reason for my intervention, but if the hon. and gallant Member has reason to suppose 625W that hardship is involved in any particular case the facts should be brought to the notice of the Board of Trade.