The title to this paper covers a very wide field and unless each of the subjects was dealt with somewhat briefly, the paper would be of inordinate length.

The general principles on which a valuation should be made are the same for Industrial as for Ordinary Assurance business. The methods adopted differ, however, one of the main differences being the system of grouping the policies in “select” form, either by calendar year of issue, sub-grouped by age at entry, or by age at entry sub-grouped by year of issue, the former being possibly the more popular and the one described in these notes. One of the original reasons for this form of grouping was the system of increasing the sums assured after a policy had been five years in force and again after it had been ten years in force, and in consequence the duration of the policies had to be taken into account in the valuation.