COLONIAL MUTUAL SOCIETY.
PARLIAMENTARY INQUIRY. _—_ • j By TsloKraph—Press Association—Copyright Melbourno| September 25. Before a Parliamentary Select Committee appointed to report oil a Bill to alter tho .memorandum of 'association of tlio Colonial Mutual Assurance Society, Mr. James Fullar, secretary and actuary of the society, gave evidence that the system of audit was practically identical with that of other companies. He explained that the higher cost of management was duo to the great cost of securing now ordinary business. The first year's premiums were nearly all absorbed in expenses. The society's business last year had increased in a greater ratio than that of any other company in tho world. The proportion of tho cost depended on tho rate of increase.
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Dominion, Volume 6, Issue 1555, 26 September 1912, Page 5
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119COLONIAL MUTUAL SOCIETY. Dominion, Volume 6, Issue 1555, 26 September 1912, Page 5
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