T. AND G.

Sun (Auckland), Volume III, Issue 847, 16 December 1929, Page 11

T. AND G.

MUTUAL LIFE SOCIETY ANNUAL MEETING GREAT EXPANSION IIELBOURRE, Friday. j The 53rd annual meeting of the T. and G. Mutual Life Society was held today, the managing director, Mr. J. T. Thompson, presiding. In welcoming policyholders to the magnificent new building, the chairman said that the accounts for the year ending September 30, 1929, showed excellent results in all departments. The new business consisting of 152,003 policies, assuring £12,219,710, all written in Australia and New Zealand, was the largest yet obtained in one year. The total income was £3,623,889, while the payments to amounted to £1,329,081. Notwithstanding such large payments, th*» Life Assurance Funds had increased by £1,392,396 to £14,109,996. The Fidelity and Contingency Funds have been increased to £163,000. The assets were £14,567,530, nearly double those held five years ago, returning a rate of interest equal to £5 17s per cent per annum on the Mean Funds. The actuary’s report disclosed a record surplus of £552,484, which, after setting aside special contingency reserves of £ 50,000, provided the same excellent bonuses and other benefits as granted last year. After drawing attention to the burden of increased taxation, the chairman funded by expressing appreciation of the enthusiasm aifd loyalty of the staff.