THE A.M.P. SOCIETY.

Taranaki Daily News, Volume LII, Issue 86, 7 May 1909, Page 2

THE A.M.P. SOCIETY.

♦ • ANNUAL REPORT. -^ Sydney, May 0. ».• The issue of the UOth report of the 9 Australian .Mutual Provident Society marks the occasion of its diamond jubllee. The amount of new business transr' acted during the year constituted a m record, being in excess of the previous ;v by no less than £178,000. Policies to is the number of 1U,117 were issued in the ordinary department, assuring £5,042,351, and yielding annual premiumi amounting to £104,870, the net gain in the volume of business in force being as much a* £2,01)9,000. 11l the mousse {rial department, 17,499 policies weft i\ issued, assuring £590,1)03, with annual n, premiums oi £30,452. Claims by death ry in the ordiuarv dejuirtment amounted o- to £793,390, including £248,145 for ;ie bonus additions, the experience in this lie respect being again exceedingly favorable. The usual investigation was made into the mortgage securities, and the sum of £OIO3 has been written off the values of foreclosed properties, the value of ollke premises- being also reduced of to £23,280. Reference is made to the ;y, establishment of a branch ollice in Lonpn don, and it is stated that a satisfactory lie commencement has been made, and that there is every indication that a large measure of success will attend the extension. The report of Actuary Richard Teece, F.1.A., K.l'.A., opens wi'th an interesting retrospect of the transactions of the lust ten years', and institutea various comparisons with the UKt fifty years of the Society's history. Valua--1 tion has been couducted on "the same strmgeut basis as heretofore, and the reserve for contingencies has been augmented by £IO,OOO. The amount of cash surplus available for division is' • £<32,445. which will provide reversion- • ary bonuses amounting to about ° £1..100,090. The rate of expense is again m " < ' < ' , ' (l " | g | . v moderate, being only about 9 per cent, on the total receipts of the year. i|„. effective rate- of interest realised on investments has been well ,„ """"allied, anil now stn-nds at the satisJ factory hguie of £4 8s 2d per cent. The report on the whole is of a most encour- .. aging nature, and speaks well for the n- s^ssss—