ASTONISHING PROGRESS
BRITISH FRIENDLY SOCIETIES CASH RESERVES DOUBLED Cttritish Official Wireless) RUGBY, 30th December. In spite of The industrial depression the' friendly societies have made progress both numerically and financially, during the current year 1930. When National Health Insurance was hiouglit into existence it was generally believed that the friendly societies were doomed, instead of which they are to-day much stronger in membership and have nearly doubled 'their casli reserves in the eighteen years they -have had to meet competition. This is largely due to the fact that the societies by the careful husbanding of their resources arc able to offer larger benefits to insured members.
Thero are now about- ten million workers making independent insurance against illness and disablement, and their aggregate reserves are about one hundred million, pounds. Their payments for sickness and for all benefits made a grand total of about £7,000,000 during 1930.
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https://paperspast.natlib.govt.nz/newspapers/NEM19310103.2.101
Bibliographic details
Nelson Evening Mail, Volume LXIV, 3 January 1931, Page 7
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147ASTONISHING PROGRESS Nelson Evening Mail, Volume LXIV, 3 January 1931, Page 7
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