T. AND G. MUTUAL LIFE SOCIETY.
ANNUAL MEETING. HIGHLY 'SATISFACTORY YEAR
MELBOURNE, December 9. At the fifty-first annual meeting ot the T. and G. Mutual Life Society held to-day (Friday, December 9th, 1927), the Chairman, Mr J. T. Thompson, said that record progress had bocn made m practically every department of the Society's busiaess. New business comprised 149,290 policies, assuring £ll,483,563, an increase of £1,012,241 over the previous year's total. The _ total income had increased to £3,023,678. No less than £885,904 was paid to policy-holders. Death claims were well, within Actuarial expectations. The Assurance Funds had a record increase of £1,304,718. The Assets amounted to £11,682,966, of which 75 per cent, was invested in Government and Municipal securities. The Society's mortgage connexion had been extended, and great progress had been made with the erection of new premises for the Society in Melbourne and Wellington. These premises are erected primarily for the housing of the Society's growing staffs, but would prove remunerative from an investment pointy of view, particularly as the building sites were purchased originally at prices well below present market values. The rate of interest on the Mean Funds had increased to £5 13s 3d per cent. The Actuary's Report showed a record surplus of-£401,G66. The bonus scale in the Ordinary Department had been increased, and other benefits and concessions in both Ordinary and Industrial Departments were granted to Policy-holders.
These wonderful results in the face of many difficulties reflected great credit on staff, whose loyalty and enthusiasm were deeply, appreciated by the Board. In conclusion, the Managing Director said that the Society's satisfactory position had been built up onsafe principles, and that the Society existed to serve its Policy-holders. The Board was justified' in believing that the Society's popularity and success were in a large measure due to the general appreciation of the Society's methods and to the consideration always extended to its members. —1
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Bibliographic details
Press, Volume LXIII, Issue 19180, 10 December 1927, Page 16
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317T. AND G. MUTUAL LIFE SOCIETY. Press, Volume LXIII, Issue 19180, 10 December 1927, Page 16
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