A.M.P. SOCIETY'S YEAR

Dominion, Volume 8, Issue 2445, 26 April 1915, Page 6

A.M.P. SOCIETY'S YEAR

OVER 'A MILLION IN BONUSES,

Sydney, April 23. At the annual meeting of the A.M.P. Society the directors' report stated that the new business totalled £6,563,369. The accumulated fund had increased by £1,651,092, bringing the total to £33,289,974. The cash surplus totalled £1,139,953, out of which it was resolved to allot £1,026,138 for distribution amongst members, providing for reversionary bonuses amounting to £1,800,000.

The chairman, in his address, referred to the adverse conditions owing to the war, the disastrous effects of tho drought, and the restrictions on tho export of wool and metals, and said that lie considered that the result of,the year's business was a cause for congratulation.

Mr.;Lowe, in charge of the New Zealand business of tho society, read a statement from Mr. A. de B. Brandon, one of the New Zealand directors, submitting that the report was one of the grandest any life office in the British Dominions had ever placed before the policy-holders. Tho society was distributing for the first time in its history ovor a million in cash bonuses. The volume of the New Zealand business was slightly less than that of last year, but, considering the effects of tho war, the gain, was gratifying. Now Zealand was never more prosperous than it was to-day. The magnificent prices which had been obtained for all products had caused a wonderful expansion, and there was every reason to hope that this progress would continue.

One member suggested that in view of the excellent results of tho year's work the board should consider the granting of a bonus to tho employees.