A.M.P. SOCIETY

Dominion, Volume 10, Issue 3061, 24 April 1917, Page 10

A.M.P. SOCIETY

ANNUAL ItEPOET. The A.JI.P. Society's sixty-eighth annual report has been issued. Duo to the war conditions existing during the time covered by tho report, tho amount of new business was slightly less than was obtained in tho previous year. Twenty-one thousand ono hundred and forty-flvo policies, assuring £6,640,020 (of which £70,000 was reassured), wero issued by the ordinary department, and 26,222 policies, assuring £1.038,1(15, by the industrial department. ■• Claims under matured policies, £755,551, aro £23,651 moro than last year, and claims arising from the death of tho assured have been very hoavy, reaching £1.612.240 in tho ordinary, and £18,826 in tho industrial department. Tho increase is almost entirely duo to tho war, £471/189 having been paid to representatives of deceased soldiers. . After deducting reassurances, the business in force amounts to 318,871 policies, assuring £90,336,C06 in tho ordinary, and 150.796 policies, assuring £5,524,393 in tho industrial department. Tho funds have increased to £36.476,947, and tho total revenue to ±4,994,606. Tho rate of interest continues to rise, but tho rato of expenses, owing to increased taxation, is slightly highor than for 1915. Tho i-atc of interest on tho mean funds is now £4 17s. 3d. per cent.—the rato of expenses (including taxeß) to premium receipts (excluding annuities) is 13.76 per cent, in the ordinary, and 33.10 in tho industrial department. The directors who now retire are the Hon. A W. Meeks, M.L.0., and the Hon. It. J. Black, M.L.0., both of whom are eligible for re-election, and are the only candidates for tho vacant scats. Mr. W. H Perry, F.C.P.A., tho senior auditor, also retires, but is eligiblo for re-election, and is the only candidate for the vacant position. ■