Samuel Brown

On the Investments of the Funds of Assurance Companies

In bringing before the members of the Institute of Actuaries a question so important to the prosperity of Assurance Companies as the investment of the funds, they will be prepared to admit that it is one which could not be fully treated within the limits usually allowed for a paper for discussion at the sessional meetings. All that I could hope for is, to throw out a few hints such as experience or reflection may suggest to me, and trust to elicit, from the practical knowledge and abilities of those present, the materials for a fuller debate of the subject.

On the Rates of Mortality and Marriage amongst Europeans in India

The great changes which have lately taken place in India—the progress of railways, the extension of commerce, and the impetus which is likely to be given to the emigration of Europeans to those vast fields of enterprise—cannot but add peculiar interest to any inquiries tending to throw light on the causes which affect the health or life of Europeans in that country. The difficulties of arriving at any sound conclusions on these subjects have always been great. In dominions so widely spread, comprising all climates, from the most delightful temperatures of perpetual spring to the fever-haunted jungles and deadly swamp, every cause that affects the health of man may be found at work.

On the Mortality amongst American Assured Lives

The extension of life assurance in the United States, and, especially, the more or less successful attempts of English Companies to compete with the American Companies, render an inquiry into the mortality of American assured lives of the greatest interest to the members of this Institute. The question assumes the greater importance, because, from various reasons, the population statistics of the United States have hitherto been, and will for a long period probably continue to be, in a very imperfect state, notwithstanding the talents and skilful labours of the able men to whom the collection of the data in the different censuses has been entrusted, and the readiness of the people to afford the information desired. The marvellous rapidity with which the population has there increased; the vast extent of the country showing such a diversity of soil and climate; the conversion of the country into town districts, or of wild insalubrious localities into lands reclaimed and rendered healthy by the industry of a dense population—are all so many obstacles to prevent our obtaining at present any Government statistics that could be relied on for the discussion of this grave question.

An account of the plan, objects, and progress of the International Association for obtaining a uniform decimal system of measures, weights, and coins

The Great Exhibition of 1851, however fruitful it was in direct results beneficial to the trade and commerce of this country, has indirectly produced greater consequences still, by leading to the discussion of questions in which the common interests of all the nations of Europe are concerned.

On the Progress of Fire Insurance in Great Britain, as compared with other Countries (Concluded from p. 349, vol. vii)

The returns of the various Insurance Companies are published in some of the United States, so that if all the facts were fully stated as required, a fair estimate could be formed of the extension of the business of the Companies from year to year, with their premiums, capital, reserve, &c. Those of the commonwealth of Massachusetts are given agreeably to the requirements of Acts passed in 1837 and 1842. In 1850, the requirement of returns from the mutual Fire Insurance Companies was repealed by an Act of May 3rd in that year.

On the Progress of Fire Insurance in Great Britain, as compared with other Countries (Continued from p. 272)

In the year 1847, a report by the Special Commission appointed by the Belgian Government to inquire into assurance by the State, led to a project of law, in the first article of which it was proposed that a general system of insurance against fire, hail, and mortality amongst cattle, should be undertaken by the State. The Commission, however, had omitted to state the cost at which the system recommended could be carried out, and it was referred to the Central Commission of Statistics to inquire further into the subject. The report of M. Frere Orban, the Minister of Finance, contains a large amount of very valuable information on each of the subjects referred to; and with regard to fire insurance, he enters upon the general inquiry how far it would be profitable to the State to undertake this branch of business.

On the Advantages to Statistical Science of an Uniform Decimal System of Measures, Weights and Coins, throughout the World

Since the establishment of the Statistical Society of London, so great an impetus has been given in this country to the study of statistics, that probably in no branch of knowledge have more important results been produced in the same time. This arises in a great measure from the very nature of statistics, and from the universality of their application. Every science, the facts of which can be expressed in a tabular form, comes within their range; and the great object of those who desire to elevate the character of statistics in the mind of the philosopher or the man of science is, to show how, by a correct and methodical classification of facts of every kind, the boundaries of knowledge are enlarged, new laws developed, and new theories suggested.

On the Origin and Progress of the Calculus of Probabilities

The application of the doctrine of chances to questions connected with the money values of contingencies depending on human life is now become so common, in this and many other countries, that we may he apt to forget its origin and the process by which it arrived at its present degree of improvement. Although the history of this calculus may be well known to some members of this Institute, there may be others whose time is, perhaps, too occupied to allow of more than the mere study of the calculations and formulae necessary for the daily routine of a Life Assurance Office, and who may not be aware of the number of other subjects to which, at an early period, the calculus of probabilities was suggested to be applied. I hope, therefore, that in taking a rapid glance at the changes and improvements effected since the first crude ideas on the subject, I may not only be able to excite an increased interest in the science, but induce a further extension of its usefulness.

On the rate of Sickness and Mortality amongst the Members of Friendly Societies in France

It is not without some degree of pride, that we recall the fact that England has taken the lead in fostering and extending those social institutions which appear destined to carry out the beneficent design of procuring the greatest possible amount of happiness for the greatest possible number. She has not been afraid to encourage a spirit of self reliance in the mass of the people, and to allow her working classes to associate freely in the effort to equalize the uncertainties of life, so that those who may have a little better fortune than the average may assist those who have a little less. Now and then, indications may have been observed of fear amongst the ruling powers lest this free association should be used for political purposes, and doctrines dangerous to the Government or the good order of society be thereby enabled to circulate too easily amongst classes who may have real wrongs to redress or fancied rights to assert; but, in the long run, good sense has prevailed, and Government has fortunately perceived that Friendly Societies for mutual aid in sickness or want, and other associations for bettering the condition of the working classes, gave them a direct interest in the preservation of the public peace, and formed by their very principles the antidote to the fears they had excited.

Report of the proceedings at the Statistical Congress held at Brussels, 19th to 22nd September 1853

The study of statistics is so peculiarly connected with the vocation and intellectual pursuits of the actuary, that I feel convinced there is no member of the Institute who will not be interested in a full report of the very important meeting recently held at Brussels. I apprehend that the real business of the actuary is the reasoning on all events to which the mathematics of probability can be applied, and reducing the conclusions to a form in which they can be practically used for the public benefit. His study is the doctrine of averages; and though his functions have been hitherto confined in a great measure to subjects relating to the assurance of human life, there are evidently many other topics to which, in time, his attention ought to be directed. The discovery of the mathematical laws of events will eventually be recognized as the sole means of bringing uncertainty to certainty, and out of irregularity deducing order.