T. AND G.

Rotorua Morning Post, Volume 3, Issue 716, 16 December 1933, Page 6

T. AND G.

ANNUAL MEETING OF MUTUAL LIFE SOCIETY STRIKING FIGURES Melbourne, Dec. 15. The 57th annual meeting of the T. and G. Lif e 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 figures. The accident department issued 17,511 policies, assuring £4,911,800 and 8114 policies in the ordinary department were endorsed with accident benefits. The total income amounted to £3,893,240 and the payments to 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 £50,000 was written off office premises and £50,000 transferred to eontingency funds. Yarious privileges, additional to the policy contracts, had been continued and were much appreciated by policy-holders. 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 safety of a life policy with the T. and G., and the meeting then closed with an expression of appreciation of the loyal services of the whole stafi;.