As the figures already mentioned would suggest, life assurance offices command large financial resources. In 1959–60 assets (in respect of New Zealand business and for ordinary plus industrial assurance) amounted to £249 million, of which nearly 97 per cent represented life assurance and annuity funds. This total was held as follows:
| Amount £(m.) | Proportion of Total Per Cent | |
| Mortgages on property | 113·4 | 45·5 |
| Loans on policies | 7·8 | 3·1 |
| New Zealand Government securities | 56·3 | 22·6 |
| Local authority securities | 40·6 | 16·3 |
| Landed and house property | 9·8 | 3·9 |
| Company stocks, shares and debentures | 15·7 | 6·3 |
| Other assets | 5·7 | 2·3 |
| —— | —— | |
| Totals | 249·3 | 100·0 |
The importance of life assurance as a source of funds for capital expenditure is clear from these figures. Over recent years mortgages (45·5 of the total above) have absorbed a relatively greater amount of funds, the proportion of assets held in this form having increased from 21·7 per cent in 1949–50. A marked fall in the proportion invested in Government securities was the counterpart of this increase.