A. M. P. SOCIETY

Bay of Plenty Beacon, Volume 2, Issue 160, 15 May 1940, Page 2

A. M. P. SOCIETY

SOUND ACHIEVEMENTS IN 1939 GUARDIAN OF MILLIONS The In test report and balance sheet issued by the A.M.P. Society disclose a very solid financial structure and the care and fores: ght, which is evident has been exercised in dealing with security and the building up of defences against ab< normal conditions, give confidence to members anil the community that lhe A.31.P. ay ill be able to do its: part in the Km pi re effort which is facing us. Satisfactory margins are disclosed in all factors upon which progress and. security depend, and at a time jf rising costs the reduction in expense rates is a particularly outstanding achievement. Assurances in force have reached over £375,000,000 and through the medium of A.M.P. membership many members of our forces overseas will be securing protection for their dependents. All such policies issued before the outbreak of Avar will not be subject Lo any extra piemium to co\ T er Avar service Avith the Allied forces. Faith of the Public. The iicav business at £29,407,67.1 — an increase of £.302,992 over 1938— is one of the highest totals of busi* ness Avritt.cn by a life office in the Empire and is evidence of the faith of the public in this great mutual institution and of the efforts which the community is continuing tomake to provide for future contingencies and security. The Society's investments in A-ari-ous loans to the Governments, local Government authorities and public bodies in New Zealand, the Commomvealth and the States of Australia. other Dominions and Great Britain, now amount to over 000,000, while advances on mortgages total over £30,000,000. Not only has the Society given paramount service in the sphere of life assurance pro-i tection, but it has been a telling force in financing our public undertakings and our primary production. The A.M.P. has no funds whatever •ojidiua opjsjno pojsaAui It can be said Avith confidence with the A.M.P. Society has always recognised its duty as the guardian of millions of pounds of the savings of the people and the further efforts made last year to ensure the impregnability of its position merits full recognition, DELEGATE ATTENDS NEW ZEALAND'S CONTRIBUTION The ninety-first annual meeting of the A.M.P. Society Avas held on Friday, 10th May. In his speech. Mr D. R. Menzies, Delegate from the NeAv Zealand Board,, said: "It is pleasing, after an of three years, to find myself once more Avith you at an annual meet- 1 ing of the Society, as the represenf atiA'e of ■ the Noav Zealand Branch Board, and to be able, Mr Chairn man, to congratulate you on the presentation of a report which, in all the circumstances, must be regarded as so eminently satisfactory. "I am particularly pleased to be able to report a satisfactory year as affecting the Society's affairs in the Dominion of New Zealand, notAvitlistanding se\ T eral adverse factors including drought conditions in the earlier part of the year and the outbreak of Avar in the later months Avith its consequent dislocation of business generally. "In spite of all adA r erse factors, hoAvever, the NeAV Zealand Branch contributed the splendid total of £5.412,785 of Ordinary Department NeAv Business for the year 1939, : an increase of £651,155 over the total secured in the previous year. With the addition of NeAv Business amounting to £789,020 completed by the Industrial Department, the total Ncaa t Zealand Ncav Business for 1939, for both Departments, reached the highly satisfactory aggregate of £6,201 >805."