The Indian Insurance Year Book 1946 (Thirty-sixth Issue)

N. B.—The publication of a summary of an insurer's or a provident society's returns in the Year Book does not necessarqy mean that the returns summarised have satisfied all the requirements of the insurance Act or dial the Superintendent of Insurance approves of the contents of the returns. [...] The following statement shows the distribution according to the Mortality and Interest bases of the valuations of Indian insurers received after the publiction of the last issue of the Year Book. [...] It is the duty of the Superintendent of Insurance to watch the affairs of an insurer continuously and to take remedial steps whenever it is felt that the interest of the policyholders are apparently in danger. [...] Leaving aside cases which were compromised during the course of the proceedings due to the alternative valuations made by the companies and one ease the result of which is still awaited in the remaining ten cases it is interesting to note that the investigation disclosed an insolvent position though as many as five of the copanies concerned had previously appealed to the Court on the ground [...] From an analysis of the elections so far made since the commencement of the Act it appears that out of a total number of 395 elections (including casual " elections under the Rules) the number contested was only 95 or less than 25%."19 In 271 elections or about two-thirds of the total the candidates were equal to the norther of persons to be elected and in 29 the candidates were less.