The Scottish Provident Institution. 
SUMMARY OF REPORT 
SUBMITTED TO THE 
37th ANNUAL GENERAL MEETING, on 24th April 1895. 
‘THE Directors have satisfaction in submitting the following REPORT 
which, in addition to the usual Statement of the Business of the past year, gives 
the Results of the 7th SEPTENNIAL INVESTIGATION with DIvISION OF SURPLUS. 
PRoposats received £1,700,169. New AssuRANCES completed £1,468,659. 
This is the largest New Business in any one year, and includes several Policies for large 
amounts effected as a provision for Death Duties—a purpose for which the distinctive 
system of the Institution is being recognised as specially suitable. 
TotraL PRemIuMS of the year, £662,450. 
Tota. INCOME, including Interest, £1,027,942. 
The Ciatms, including Bonus Additions,* were £464,686. 
* These averaged 50 per cent on the Assurances which participated. 
The REALISED FUNDS amounted at 31st Drc. 1894 to £9,043,193, 
Or, deducting Claims etc. outstanding, to £8,949,754, 
the Increase during the year being the large sum of £418,453. 
THE PROGRESS of the INSTITUTION 
In each SEPTENNIAL PERIOD is shown in the following TABLE. 
| | SURPLUS. 
IN PERIODS | TOTAL FUNDS INCOME 
ENDING | ASSURANCES AT END OF | No: oF IN LAST YEAR 
31st DECEMBER. | EFFECTED. PERIOD. PARTICI- AMOUNT. OF PERIOD, 
PANTS. 
1845 (8 years) | £942,899 | £69,009 ie e £25,366 
1852 2,571,328 254,675 167 £26,159 68,607 
1859 4,590,300 633,514 851 79,644 120,625 
1866 7,525,373 1,245,372 2,492 181,544 205,358 
1873 12,297,445 2,253,175 4,599 376,577 353,613 
1880 19,695,470 ; 3,913, 252 6,662 624,473 566,441 
1887 26,837,043 6,179,746 9,384 1,051,035 783,675 
1894 34,990,385 9,043,194 13,220 1,423,018 1,027 ,942 
During the Septennial Period ending 31st December last the NEw AssuR- 
ANCES completed amounted to 48,153,342; the ratio of EXPENSES to Premiums 
averaged only about 1o} per cent—an exceptionally favourable ratio, more 
particularly in view of the fact that it is calculated upon the Institution’s low 
premiums. The REALISED FUNDS increased from £6,179,746 to £9,043,194 ; 
and the rate of INTEREST earned was maintained at over 41 per cent. 
The CLAIMS paid during the same period were £2,805,065, and, both in 
number and amount, were greatly under the expectation—having been about 
four-fifths of the estimate based on the ‘Actuaries’ Experience H™” Table on 
which the calculations proceed. More than one-half of the Members who died 
were entitled to Bonuses which, notwithstanding that the premiums do not as a 
rule exceed the non-profit rates of other Offices, were on the average equal to an 
addition of about 50 per cent to the Policies which participated. 
