The Cyclopedia of New Zealand [Canterbury Provincial District]
There are ten life insurance companies carrying on business in the colony, and these are well represented in Christchurch by both colonial and foreign companies. All the insurance offices are in central positions, and the Government Life Insurance Department occupies a very good site in Cathedral Square. For life insurance there is keen competition, especially in view of the fact that there is no uniformity of rate; for fire insurance, however, there is uniformity in this respect throughout the colony. The Government office, which has a State guarantee, holds a very large proportion of the total number of the life policies. In regard to foreign offices, the Legislature has provided that they must deposit sufficient security with the Government to guarantee colonial insurers.