Approved Societies Valuations, Representative Papers

ACT 2

1918-1948

Valuation papers relating to the valuation of the assets and liabilities of selected Approved Societies by the Government Actuary's Department.

The selection of records includes samples of different types and sizes of society.

Each file contains the papers of the five valuations made between 1918 and 1939, including the Valuer's reports, accounts and balance sheets. The results of the valuations were embodied in the reports made by the Government Actuary to the Chairman of the National Health Insurance Joint Committee; and these, which were published as Command Papers, have been included in the series. Some files contain calculations of later dates.

Public Record(s)

English

23 file(s)

Topics

Government finances

Approved Societies provided national health insurance for the insurably employed and voluntary contributors from 1912 to 1948. Valuations of their assets and liabilities were made by the direction of the National Insurance Act 1911, and the National Health Insurance Acts 1924 and 1936. The original intention was to make Valuations every three years, but this was abandoned after the First World War. All valuations were made as at 31 December, but it was soon discovered that the task of valuing every society and branch at one time was too large to be undertaken conveniently and economically; and after 1918 the societies and branches were divided into groups (progressively more numerous at each valuation), each group being dealt with, in turn, in successive years. Between 1913, when payment of benefits began, and 1948, when the implementation of the National Insurance Act 1946 removed the need for them, only five valuations were made.