AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

Kumara Times, Issue 1760, 22 May 1882, Page 2

AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

The thirty-third annual meeting of the members of the above society Was held at the head office, Sydney* on Wednesday, 26th April. The Report of the Directors states that they have pleasure in reporting that the new business for the year indicates the maintenance of the same satisfactory progress as that on which they congratulated policy-holders at the last annual meeting. During the twelve months ending 31st December, 1881, there have been received 9041 proposals for sums amounting to L 3,140,938, of which 2572 were declined, withdrawn, or not completed, amounting to 1,999,775, leaving 6469 proposals accepted and completed, assuring L 2,141,163. This business includes 259 non-participating policies assuring L 71.665. The new premiums amount to L 78,690 1 55., of which L 7038 17s lid represents single payments. The following is a summary of the business effected Total No. of policies, 6469; sum assured, L 2,141,163; single premiums, L 7038 17s lid ; annual premiums, 1,71,651 17s Id ; total new premiums, L 78,690 15s. Claims have arisen under 383 life policies by the death of 336 members, amounting to 1,196,361 65., including L 27,261 6s. for bonus additions. Twenty -mx endowment assurances have also maimed, amounting to L 12,466, including L 3344 for bonus additions. The accumulated fund now stands at L 3,829,185 55., showing an increase of L 449,674 14s 5d., the balance of receipts over disbursements during the year.

The number of policies issued since the establishment of the society to the 31st December, 1881, is 65,469, assuring L 23,995,171, of which 18,678 have been discontinued, leaving 43,791 existing policies assuring L 17,211,035. The annual income from premiums amounts to L 579,236 13s lOd, and that from interest to L 237,986 11s 6d, making the total annual revenue of the society L 517,223 5s 4d.