§ Mr. HINDLEasked the President of the Board of Trade whether the underwriting members' guarantee agreement in use at Lloyds has been altered in any way during the last three years; if so, what are the terms of the present agreement; whether the trust deed approved by the Board of Trade under Heads B and C 2 (a) of the Eighth Schedule to the Assurance Companies Act, 1909, has been altered during the last three years; and, if altered, what are the terms of the present trust deed?
Mr. ALEXANDERThe form of the underwriting members' guarantee agreement in use at Lloyds has been altered during the last three years by the addition to the Schedule of Clauses 6 and 7, and I am sending to the hon. Member a print of the form showing this addition. The form of trust deed approved by the Board of Trade under Heads B and C 2 (a) of the Eighth Schedule to the Assurance Companies Act, 1909, has not been altered during the last three years.
§ Mr. HINDLEasked the President of the Board of Trade if he will state, separately, as regards the years 1922 and 1923 the amount of the deposits, if any, furnished in accordance with the Eighth Schedule, B and C 2 (b) of the Assurance Companies Act, 1909, by Lloyds' underwriters as security for the due fulfilment of their fire and accident insur- 455W ance contracts and the amount of the security furnished in the form of guarantees; whether any of the guarantees which may be furnished as an alternative to a deposit are given by persons who are not members of Lloyds' Underwriters' Association; and, if so, to what extent?
Year. Deposits. Guarantees given by Members of Lloyds. Guarantees given by persons other than Members of Lloyds. £ £ £ 1922 … … … … 1,318,000 13,258,045 Nil. 1923 … … … … 1,662,000 10,949,194 64,729
§ Mr. HINDLEasked the President of the Board of Trade if he will state, separately, how many Lloyds' under-writers during the years 1922 and 1923 have complied with the requirements laid down in Eighth Schedule, paragraphs B and C (1) (b), of the Assurance Companies Act, 1909, as regards the furnishing to the Board of Trade of a statement showing the extent and character of the business effected by them; 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. ALEXANDERNo Lloyds' underwriters have furnished the Board of Trade with a statement showing the extent and character of the business effected by them under Schedule 8 B and C (1) (5), during the years 1922 and 1923. In lieu of providing this statement, 994 underwriters in 1922 and 1,047 in 1923 elected to comply with the alternative requirements contained in Schedule 8 B and C (2) and furnished the Board with auditor's certificates.