A.M.P. SOCIETY

Gisborne Times, Volume XIX, Issue 1496, 3 July 1905, Page 2

A.M.P. SOCIETY

An advertisement in another portion of this issue notifies that the Australian Mutual Provident Society has issued its bonus certificates for the year ended '3lst December, 1904. As there are nearly 32,000 polioies on the New Zealand branch books, this event is of considerable interest. Tho amount divided is £618,000, and re-' presents reversionary additions to policies of over £1,200,000. The A.M.P. was the first Society to divide its profits annually, thus allowing members to see from year to year how their assurances stood, and in this connection it is worthy of note that under a new French law the tontine method of dividing profits is suppressed, the clause relatiug thereto reading : “ When the profits divisible to the assured I are not payable immediately after-the settlement of the accounts of the period during which they were earned a separate account must set forth each year of the portion of tho profit allotted to oach contract underwritten or executed in France or in Algeria, and must be addressed to each of the assured.'’ To-day is tho 34th anniversary of the opening of the New Zealand branch of the society. The hold it has obtained upon the assuring public of New Zealand may be judged by the business in force,' which amounts to £8,628,156. excluding bonus additions There are assets of over £3,800,000 invested in the colony, and not a penny of interest in arreac—eloquent testimony both to the care of the directors in lending the money and the prosperity of the people to whom it has been advanced