This account indicates continuous sound progress, Life assurance in force as on" December 31, 1940 amounted to £725500.12, 8d, as com pared with £520,372, 2,'3d, the previous year, The Life Assurance Fund_inereased from £69,019.15, 24. fon December 31, 1939 to "£104,- 587.19, Od, The quinquennial valuation of the liabilities of the life depariment has been complectd by our consulting actuary and is based on the modified preliminary term method valuation, American mortality table and the rate of interest of 13M per cent, 'A net gain of the business in force for the year under review amounted to £98417. 8, Sd, and the experience for the year 1940 amounts to 57.72 per cent, of the expected mortality, 'Over eighty per cent, of our aggre gate assurance is written on lives of assureds residing in countries outside of China proper and is issued in such currencies as Straits dollars) Hongkong dollars, pounds sterling and US, dollars,' Our activities. Sccupled China are limited almost entirely to the renewal of insurance already in fore,
Text read from the printed page and cleaned; old type leaves the occasional error.