THE A.M.P. SOCIETY.

Taranaki Daily News, Volume XXXXII, Issue 97, 14 May 1900, Page 2

THE A.M.P. SOCIETY.

A VERY SATISFACTORY REPORT. [FEU PEISB ASSOCIATION.] Wellington, May 12. The fifty first annual report of the A.M.P., Society has been issued. The amount of new business completed was in excess of any year sines 1891, consisting of 15,238 policies assuring £3,955,685, and yielding an annual premium revenue of £135,339, the net gain to the volume of business bding no less than £2,100,000. The mortality experience was of an unusually favourable character, the claims being £70,000 less than the previous year, Searching investigation into the mortgage securities has been made, and a further sum of £5175 is set aside on! this account, besides writing £3837 oil j the office premises.

The directors will shortly convene a spscial meeting of members to discuss the proposed new by-law authorising the Society to open branches in any portion of the British dominions. From the report of the Actuary, Mr, Richard Teece, it appears that the whole liabilities, with the exception of a few non-participating policies, are valued at 3| per cent, interest, the amount of cash surplus available for division being £506,183, which will produce reversionary addiliois to policies of members aggregating £942,500. The bonus certificates will be issued at tho end of next month.

The rate of expanses is remarkably low, being under 9£ per cent, on the total receipts. The effective rate of interest earned during the year was £4 lis lOd per cent.