INSURANCE CHANGES.

Otaki Mail, 19 March 1923, Page 2

INSURANCE CHANGES.

EQUITABLE AJS T D MUTUAL. LUGE TRANSFER OP BUSINESS. A transaction of considerable interest i i the insurance and finance world has recently been concluded, the companies .- ii turned being the Equitable Life Assurance of the L'uiled States and the National Mutual Life Association of Australasia, Ltd. The arrangement that as been come to is that the' National Mutual Life la ;es over the •management of the Aus!i.- lasinii business vf the Equitable, acting lor it in all dealings in connection with its policies. Several years the acceptance of new insurances in Australasia, and has now definitely decided not to : pi new business cither in Now Zealand or Australia. !u order to avoid inconvenience, and to continue a high standard of service to ihe policy-holders, an agreement has been completed for the re-insurance of the business in force with the National Mutual, which ha? active agencies throughout Australasia. The National Mutual is well known thiotighoul Australasia, hemg established in 1809, arid has fund:- amounting to nearly seventeen millions. The Equitable assurances in force in Australia total k; millions sterling; these assurances are now re-insured with the National Mutual. . The agreement includes the transfer to the National Mutual of the Equitable's assets in Australasia, consisting of real estaf and buildings. bond- and deposits, which amount to a \ery large sum on valuation.