THE A.M.P. SOCIETY.

Taranaki Daily News, Volume XLVII, Issue 8113, 18 May 1906, Page 2

THE A.M.P. SOCIETY.

ANNUAL BEPOBT.

Beeeived 17, 8.6 p.m. Bydkit, May 17. The fifty.seventh annual report of the A.M.P, Boei»ty, lor presentation at | lie annul meeting on the 26th May taa been issued. The amount of new 'business was extremely satisfactory, policies to the number of 18,866 having ijeen issued during the year, assuring 84,078,814, and yielding an annual premium of £141,899, the net gain in the volume of business in fore* being \o less than £1,682,687. In tfe Industrial Department 19,840 policies svere issued, asburing £828,841,' with in annual premium of £19,214. Claims by death amounted to £789,686, in:luding £221,226 for bonus additions, the experience in this respect being tgain largely within expectations. The usual searching investigation has been made into the mortgage securities and the sum of £32,000 has been written off value of foreclosed properties, the value of office premises being also reduced by an amount of £8,266. Befer. enoe is further made to amendments of the by-laws, to permit of an extension of the Society's operations to the United Kingdom and British Booth Urioan Colonies, which were finally confirmed by 114,066 yotes to 48,048. Brom the report of the actuary, Mr Richard Teece, it appears that all participating policies issued prior to 1903, have been valued as heretofore at 3| per oent., while those isssed since that date have been valued at 8 per cent. The amount of cash surplus available for division is £638,632, which will provide reversionary additions aggregating aboot £1,300,000. The rate of expenses is as usual on a moderate scale, being under 9 per oent. on the total receipts of the year. The effective rate of interest shows a decided increase over the previous year and stands at the very satisfactory figure of £4 9s 9d per cent.