Perhaps I owe to the Institute an apology for bringing forward so late in the day this second part of my paper. When first I resolved to enter on the investigation of which I have now the honor to submit a second series of results, the ground, at least in so far as the experience of the 20 Offices was concerned, was practically unoccupied; for although Mr. Sprague had written on the mortality prevailing among assured lives, yet, as he had not touched on financial matters, I conceived that there remained ample room for another worker. It was only when I was on the point of sending in the part of my paper which has already been printed in the Journal, that I heard of Mr. Berridge's labours; and not till the other day, when the calculations for this second part were all but finished, did I become aware that Mr. Sprague intended to deal with the question of the premiums for the insurance of recently selected lives. Had I known that these gentlemen were engaged very similarly to myself, I should probably have been deterred from my task: but seeing that in ignorance of their movements it has been completed, perhaps the results will not be considered valueless.

If, a few years ago, a paper had been offerd to the British Association on the subject ov the insolvency of life insurance companies, it woud probably hav been met with the objection that it was ov too theoretical a character. No life insurance company in the contry had ever been knoen to becom insolvent, and ther was no reason to anticipate that such a catastrofy woud ever occur. The well knoen remark ov the late Prof. De Morgan miht probably hav been quoted, that ther is nothing at all comparabl in point ov security with a well establisht and prudently conducted life insurance company.