A.M.P. SOCIETY

Wairarapa Times-Age, 10 May 1940, Page 2

A.M.P. SOCIETY

ACHIEVEMENTS IN 1939. The latest, report and balance sheet issued by the A.M.P. disclose a very solid financial structure and the care and foresight, which is evident has been exercised in dealing with security and the building up of defences against abnormal conditions, give confidence to members and the community that the A.M.P. v/ill be able to do its part in the Empire effort which is facing us. Satisfactory margins are disclosed in i all factors upon which progress and security depend, and at a time of rising costs the reduction in expense rates is a particularly outstanding achievement. Assurances in force have reached over £375.000.000 and through the medium of A.M.P. membership many members of our forces overseas will be securing protection for their dependents. /Ml such policies issued before the outbreak of war will not be subject to any extra premium to cover war service with the Allied forces. The now business at £29,407,675 —an increase of £302,992 over 1938 —is one of the highest totals pf business written by a life office in the Empire and is evidence of the faith of the public in this groat mutual institution and of the efforts which the community is continuing to make to provide for future contingencies and security.

The society's investments in various loans to the Governments, Local Government authorities and public bodies in New Zealand, the Commonwealth and the States of Australia, other Dominions and Great Britain, now amount to over ,£70,000,000, while advances on . mortgages total over £30,000,000. Not only has the society given paramount service in the sphere of life assurance protection, but it has been a telling force in financing our public undertakings and our primary production. The A.M.P. has no funds whatever invested outside the British Epmire. It can be said with confidence that the A.M.P. Society has always recognised its duty as the guardian of millions of pounds of the savings of the people and the further efforts made last year to ensure the impregnability of its position merits full recognition.