A study of life office investments in New Zealand, 1908 to 1948

Abstract

The purpose of this study is to examine the investment of life office funds in New Zealand. The assets have grown to such proportions and are concentrated to such a degree that it seems important to investigate how the investment decisions involved have been made, what assets are held, what structural changes have occurred, why these have taken place, and to try to assess the present role of the life offices in the capital market. No attempt will be made to trace the history of life assurance in New Zealand, nor to assess the social and economic significance of life assurance itself. The period covered is that for which official data is available. Life offices were operating here prior to 1908, but the Life Insurance Act of that year prescribed the form in which they were thenceforth required to return annually details of the business transacted in New Zealand. All statistical data has been extracted from the New Zealand Official Year Books, 1909 to 1950. It has been condensed into aggregates for combined departments, i.e. Ordinary Departments and Industrial Departments.