Report of A.M.P. Society for year 1892

Feilding Star, Volume XIV, Issue 116, 30 May 1893, Page 2

Report of A.M.P. Society for year 1892

The report of this Society for the year ending 31st December 1892 is a most satisfactory one and good progress is still shown. Altogether 12,585 new policies amounting to £3,791,221 have been issued, the premiums yielding an additional income of £144,776,48. Claims paid amount to £429,470 including £95,800 for bonus additions. The endowment as* surances which have matured daring the year amount to £119,175,188, including £38,625,18s for bonus additions. The accumulated funds, have been increased by £796,411, 18s lid, and now amount to £11,328,448, 8s lid, The Actuary's report discloses a oash surplus of funds over liabilities of £662,272, 8s lid. Out of this aurplus, the Board has resolved to allot the sum of £504,261, 5a lid for distribution amongst members. This sum will provide reversionary bonuses amounting to about £1,030,000. During the year £4,546, 16s 9d has been expended in permanent improvements to the Society's premises, and this amount has been paid out of the years' profits. The Board has also set apart out of the year's Burplus, the sum of £61,500 for the pur. pose of augmenting the special reserve already made to provide against the depreciation in the value of mortgage securities, and this special reserve now amounts to £76,500. The Board has also written down the value of its office premises by the sum of £19,630, 19* 2dt The Society's total annual income now amounts to £1,960,123, 5s Id. The report is in every way a most satisfactory one, and shows that this Society continues to hold its position as one of the best managed, strongest, and soundest in the world. Everyone connected with the concern has every reason to be satisfied with its present position and future KO9 . pects. ** p