A.M.P. SOCIETY

Taranaki Daily News, Volume L, Issue 59, 10 May 1907, Page 2

A.M.P. SOCIETY

THE YEAR'S BUSINESS. HIGHLY SATISFACTORY REPORT; Sydney, May 9. The liity-eighth anpual report of the A.M.P, Society for presentation to the annual meeting on the 7th May has been issued. The amount of new business is extremely satisfactory, being in excess of any previous year in the Society's history, Policies to the number of 17,122 were issued during the year, assuring £4,585,430, and yieldiug annual premiums amounting to £158,331 17s 4d. The net gain in the volume of business in force was no less than £2,340,193. In the |lndi<stJrialj Department, 15,305 policies were issued, assuring £405,057, with annual premiums of £24,295 9s Bd. Claims by death amounted to £720,971, including £220,-s 711 for jionus additions, experience in this respect being once more remark-' ably favorable. The usual searching investigation has been made into the mortgage securities, and the sum of £7097 has been written off the value of foreclosed properties., and the value of office premiums being also reduced to the extent of £17 ; 350. Reference is made to the suit brought in the Equit Court of N.S.W. by Mr Gi. Campbell to restrain the Roan! from proceeding wiih Klie extension of the Society's opera f lions to the United Kingdom, and to the fact that the case is still subjudiee, -Ml' Campbell having appealed to the I'rivv Council against the decision of the court, which was in the Society's ' ivor.; l'Tom the report of the actuary, Mr Richard Teece, it appears that all participating policies issued prior to 1003 have been valued as heretofore at 1 "Ha per cent, whilo those issued since that date have been valued at 3 per cent. The amount of cash surplus available for division is £004,093, which will provide reversionary bonuses aggregating about £2,000,000. The rate of expense is on a moderate scale, being under 9 per cent on the total receipts of the year. The effective rate of Interest has been well maintained, and stands at the highly satisfactory figure of ,C 49s 7<l per cent. The wport is one of the most satisfactory ever issued bv the Society.