LIFE ASSURANCE

Hokitika Guardian, 16 December 1933, Page 5

LIFE ASSURANCE

T. AND G. SOCIETY’S MEETING

YEAR’S ACTIVITIES REVIEWED

vAustralian Press Association),

MELBOURNE, December 15.

The 57th annual meeting of the T. and G. Life Assurance Society was held to-day. The managing director, Mr J. T. Thompson, presided.

The chairman announced that the new business comprised £149,065 policies, assuring £11,513,452, an increase of £894,345 above the previous year’s -gures. The accident department issued 17,511 policies, assuring £4,911,890, and 8,114 policies in the ordinary department were endorsed with accident benefits. The total income amounted to £3,893,240 and the payments of policy-holders £1,515,772. Of the total assets of £19,278,719, 64 per cent was invested in Government, municipal and other local body loans —the highest type of security. As a further protection, £50,G00 was written off office premises and £50,000 transferred to contingency funds. Various privileges, additional to the policy contracts, had been continued and were much appreciated by policyholders.

The actuarial report, after using the most stringent valuation, disclosed a surplus of £691,609, providing reversionary bonuses and other benefits on the same scale as last year. The chairman urged business men to turn from the risks of speculation to the safetv of a life policy with the T. and G., and the meeting then closed w’tli an expression of appreciatin’' of the loyal services of the whole staff.