The subject I have chosen for my paper may seem to call for some apology, on the ground that it is more suitable for discussion at a legal institute than by a body of Actuaries. There would doubtless be some force in such a criticism, and yet I venture to think that in many respects the subject is not an unsuitable one to be brought before this Institute. The time has gone by, if indeed it ever existed, when the ordinary legal incidents arising in connection with life assurance business were submitted to the company's solicitors for advice and direction. In a large life assurance institution it would be impossible, in practice, to submit every question as to title, in the case of claims and surrenders, to a solicitor, on account of the expense and delay thereby occasioned, if for no other reasons, and at least as great practical difficulties would arise if, in order to get over the difficulty of the expense of such a reference, it were sought to saddle the applicant with such legal expenses as might be incurred. Questions of title, unless they be of a peculiarly complicated nature, are therefore usually settled by an official of the company, and since amongst the officials the Actuary will, as a rule, stand almost alone as having, of necessity, some legal knowledge, the ultimate decision on such points will, in most cases, devolve upon him.

The Institute of Actuaries and the Faculty of Actuaries are at present jointly engaged on an investigation into the mortality experience of Life Assurance Companies, which will include an examination of the rates prevailing amongst Annuity Nominees. Nevertheless it is thought that any other investigation throwing light on this important subject may not be without interest.