COLONIAL MUTUAL LIFE.

Taranaki Daily News, Volume LV, Issue 52, 19 July 1912, Page 5

COLONIAL MUTUAL LIFE.

A SOUND POSITION. By Telegraph—Press Association. Wellington, Thursday. With reference to yesterday's cablegram giving particulars of questions asked in the House of Commons in regard to the Colonial Mutual Life Assurance Society, the secretary for New Zealand, Mr. P. D. Leslie, states that the Colonial Mutual has never yet failed to keep its engagements. Such a suggestion, he says, is ridiculous, in face of the figures disclosed in the last annual report for 1011. The report of the actuary, Mr. James Pullar. F.F.A., certifies the total net liability to be £3.205,051, and the amount of the life assurance fund at the close of the year to be £3.357.753, thus disclosing a surplus of assets over liabilities of £ 150,731.

Mr. Leslie further states that the society's affairs are in a most prosperous condition, and in proof of that mentioned that the volume of business transacted last year was very considerably greater than that of mny previous year in the .society's history. The sum added to the accumulated fund during the year was £138,901. The society has never lent money to its local directors in New Zealand, nor has the New Zealand branch any knowledge of such course having been adopted by the society anywhere.