T. AND G.'S GOOD YEAR

Evening Post, Volume CVIII, Issue 134, 3 December 1929, Page 14

T. AND G.'S GOOD YEAR

The 53rd annual report and balancesheet of the Australasian Temperance and General Mutual- Life Assurance - Society, Ltd., to' 30th September shows' a record' in new business for the year. Comparison between 1928 and 1929 figures as furnished by the directors is as follows:—

The assets for 1929 include Government and local body securities amounting to £9,568,057. The rate of interest for the year earned on mean funds was £5 17s per cent., as compared with £5 14s per cent, for 1928. The result of the actuary's report is that, after providing for liabilities of £13,557,512, there is a surplus of £552,484, as compared with £463,930 for 1928, "the largest surplus yet shown by the society," and providing for reversionary bonuses and other benefits to policyholders as last year. The new policies written for 1929 numbered 22,639 in the ordinary department, an increase of 761; and in the industrial department 129,364 policies, an increase of 2612 for the year. Total new policies 152,003, an increase in the aggregate of 3373. Taxation has increased from £23,493 to £59,556, which the directors deplore, as "the burden falls very heavily on the thrifty individual of small means." ■

1928. 1929. "Jew Business 5,304,552 5,954,65! inuuities (per annum) 1,016 167! [ndustrial Dept. ; ...'. 6,194,173 6,265,05! Premiums and Interest 3,312,151 3 6 93 88! Do Policy-holders .... 1,329,081 1,050,77: Assurance Funds .... 12,717,60114,109,991 issefe .......:: 13,417,203 14,567,531