The Colonial Mutual Life Assurance Society Limited.

Te Aroha News, Volume VII, Issue 397, 28 August 1889, Page 2

The Colonial Mutual Life Assurance Society Limited.

[Extract from the " Insurance World and Monetary Record, 11 London, May 29, 1889.]

Since the London office was eetabiinhed some three years ago, this young Australian OHant ha 3 made marvellous progtess, and now ranks in respect of the magnitude of its new business aa third among the life assurance offices of the British Empire. I To attain such a position in the short space of fifteen years, is, indeed, an unprecedented feat, and one on which the executive may deservedly be congratulated. The actual amount of the new business was £1,762,821, which included 4494 life and 158 endowment policies, the proposals having numbered 6340 for £2,394,642. The new premiums amounted to £49,769, after deduction of reassurance, and the total premium receipts, including renewals, were £244,338. Tnree annuity bonds v/ere also issued for £136 19a per annum, and for these the sum of £800 was received. We now come to the receipts from interest, ; etc., and notice with some surprise that while other offices find it difficult to keep up the yield of their investments from year to year, the Colonial Mutual is in the exceptional position of being able to show an increased yield, £52,466, the rate for 1888 being 6.54 per cent, which we doubt if any company in the world will surpass for the same year. The total income of the Society, after deduction of the amount ,he paid for reassurances, reaches £297,604, jo- \ and the present total annual revenue is kil '£307,499. V" * On the other side of the account matters be > equally favourable. The claims have * e > f n n moderate in amount, viz., for deaths, l» x. 9 A 536 ; and for endowments, £4566. It \ . { -.0 specially woithy of note that the IS se ratio is nearly 2 per cent less than expon preced j ng year) an d this in the iaee ™, * - inprecedeuted acquisition of new ?f? f ?u? u l . Ihe total outgo, after including busmen commission, and all expenses oi urrende* waa £174,473, which leaves 1 \anagem , f £12 3 126 to be added to the «' d funds of the Society. ace Eretht <r the repOrt iH * **<>** JS** l**\m>gei;i\fc> }] tjje resmltB it discloses aro in* "S^ i avourabie nature; but the of a ?L Va our option, are the larg< salic« n t te-newbusiue Bs,thereducti 8 s,thereductio C increa JSi\ oA expenditure, and the im mere.. raiul o. p investments Foved , SS l \%s*r exceedingly well fo all of w hhph B pJ ctl , i>* the members of th the pro B X t uiV Life Assurance Sooietj a Colonial . iS • ution of profits, the valua the next t ™&t& t Alls to be made ut the en tion for wi ant vt rdV ' -, 4. • of the pres be 86 en b * "d^ 18 ! 111611 * ] [As will n^ »r J. Hott has been « another coin. 7* t \ Vgent at Te Aroha fc pointed Resiu tety.l ____—««, the above Soc .