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On Bonuses arising from Surplus Premiums and Surplus Interest
Published online by Cambridge University Press: 18 August 2016
Extract
The great importance of the subject of distribution of surplus, I think, no actuary would be inclined to dispute. With regard to the magnitude of the interests involved, I will content myself with referring to Mr. Hewat's paper, read before the Actuarial Society of Edinburgh on 8 January 1880, and of which an abstract is given in the Journal (xxii, 286–292). In this paper he stated that, from the Board of Trade Returns relating to seventy-seven offices, he found that £2,285,000 was, on the average, annually divided among the policyholders by way of bonuses. Of this sum he estimated that £890,000 arose from surplus premiums or loading, and £1,040,000 from surplus interest.
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- Research Article
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- Copyright © Institute and Faculty of Actuaries 1887
References
page 361 note *
It should be noted that nBx is a general symbol for total reversionary bonus, and has different Tallies in the three expressions. It is used in the ease of each formula as the symbol for the total reversionary bonus resulting from the cash bonuses given by that formula. Thus in (a) nBx means the total reversionary bonus found by application of this formula, so that 
page 363 note * See Notes on Finite Differences, by A. W. Sunderland, p. 32, equation (4).