T. & G. MUTUAL LIFE SOCIETY

Wanganui Chronicle, Volume LXXXIII, Issue 19721, 11 December 1926, Page 9

T. & G. MUTUAL LIFE SOCIETY

ANNUAL MEETING. WONDERFUL GROWTH. MELBOURNE, December 10. At the Annual Meeting of the T. and G. Mutual Life Society held to-day, the Chairman, Mr. J. T. Thompson, said that the accounts presented were those for the Society’s’Jubilee %ear. Record figures were produced in every Depart* ment. The NEW BUSINESS consisted of 339,607 Policies assuring £10,47.1,322. Another record in INCOME wa* made, the total for the’ year being £2,701,156. PAYMENTS TO POLICYHOLDERS which were well within the Actuarial expectation wore £779,525. TOTAL ASSETS of £10,354,583 were held, just on 80 per cent, of which were in the form of Government and Municipal Securities. Owing to the rapidly increasing business, the Society had found it necessary*to enter into contracts for an eight-storied building at Wellington and a ten-storied building at Melbourne. The INTEREST RATE had increased to £5 Ils Id per cent, on the Mean Funds. The Actuary’s Report showed a record surplus of £336,304 and provision was made for increased Bonuses. It was stated that the Society was one of the most progressive Life Assurance Offices in the British Empire! and the Board looked forward to the future with every confidence. A tribute was paid to the loyalty and enthusiasm of the Staff.