Fraternity-Testvériség, 1967 (45. évfolyam, 2-12. szám)

1967-02-01 / 2. szám

VALUATION EXHIBIT

Published Pursuant to the Requirements of Law

by

The Hungarian Reformed Federation of America

AS OF DECEMBER 31, 1966

(Including Death Benefit Certificates of Juvenile Branch)

Total Admitted Assets ...................................................

Aggregate Reserves for Life Certificates ...................

Aggregate Reserves for Accident, Health Certificates Liabilities other than Reserves ......................................

Total Liabilities ..................................................

Unassigned Funds..................................................

Total ................••.................................................

............$14,516,058.28

............. 12,425,078.00

............ 114,220.00

............. 583,309.17

.............$13,122,607.17

............. 1,393,451.11

.............$14,516,058.28

The Society's valuation as of December 31, 1966 indicates that on the basis of the American Experience, American Men and 1941 Standard Industrial Tables of Mortality with interest at 31/2% and 3%, the future assessments of the Society, at the net rates now being collected, together with the now invested assets of all funds, are sufficient to meet all certificates as they mature by their terms with a margin of safety of $1,393,451.11 (or 110.6%) over the statutory standards.

The ratios of assets to liabilities (including reserves on all statutory obligations) for the last five years are as follows: 1966 — 110.6%; 1965 — 110.1%; 1964 - 110.3%; 1963 - 110.3%; 1962 - 110.2%.

Jutáié of (Emmccticnt i

i SS;

(Koutttü of Jimrfu'lii '

George R. Schaumann, being duly sworn, deposes and says that he is the actuary who made the foregoing reserve computations as of December 31, 1966, and that the same are correct and true to the best of his information, knowledge and belief.

(ss) GEORGE R. SCHAUMANN Actuary Miles M. Dawson & Son, Inc.