T. AND G.

Rotorua Morning Post, Volume 2, Issue 408, 17 December 1932, Page 4

T. AND G.

ANNUAL MEETING OF MUTUAL LIFE SOCIETY REMARKABLE FIGURES Mielbourne, Dec. 16. | The fifty-sixth annual meeting of the T. and G. Life Assurance Society was held to-day. The managing direetor, Mr. J, T. Thompson, presided. The chairman announced that the new business comprised 149,943 policies, assuring £10,619,107, an increase of 13,117 policies compared with the previous year. In addition, an increased number of aecident policies, totalling 2882, and assuring £1,386,750 were issued, while 4328 polipies in the ordinary department were endorsed with accident benefits. The total income was £3,785,091, while payments to policy h'olders amounted to £1,685,401. The mortality experienee was exceedingly favourable and well within acturial expectations. Out of the total assets of £17,921,147, no less than £11,278,000 was invested in Government Municipal and other local body securities, the safest form of investment. As a precautionary move £100,000 was written off office premises and £100,000 transferred to contingency funds. The actuarial report, after the adoption of the most stringont valuation, diselosed a record surplus of £680,140. After setting aside £50,000 for actuarial contingencies and providing for reversionary bonuses and other benefits, £68,588 was carried forward. The meeting closed with an expression of -appreciation of the loyal and efficient service of the whole staff.