MUTUAL LIFE SOCIETY

Hokitika Guardian, 20 December 1930, Page 5

MUTUAL LIFE SOCIETY

ANNUAL MEETING. (Australian Press Association) MELBOURNE, December 19. The Fifty-fourth Annual Meeting of the T. and G. Life 1 Society was held to-day, the Managing Director. Mr J. T. Thompson, presiding. The Chairman announced that the New Business comprising 1-12,183 Policies assuring 1112,318,702, exceeded the previous year’s total by £98,992. In addition 1,098 Personal Accident and Sickness Policies, assuring £721,750 were issued and 905 Policies in the' Ordinary Department were endorsed with Accident Benefits, assuring £1,133,985. All of this business was written in Australia and New Zealand. The total income was £3,85(5,,035, while Payments to Policy holders amounted to £1,507,239. The Chairman said that the Assets amounting to £1(5,068,017 were not affected by Stock Exchange fluctuations. The policy of the Board has been to invest in high grade securities, with the safety of the principal the main consideration, yet the average rate of interest oil tile Mean Funds was £5 17s 3d per cent, per annum, The Actuary’s valuation of liabilities under Policies disclosed a sound position, so that the same Bonus Scale is being maintained, but the Chairman said that Policyholders’ returns in future will be influenced largely by the extent of taxation imposed. The meeting concluded with an expression of the Board’s deep appreciation of the efficient and loyal service of the staff.