A FLOURISHING INSTITUTION.

Wairarapa Daily Times, Volume XIII, Issue 4081, 5 April 1892, Page 2

A FLOURISHING INSTITUTION.

MUTIJAL LIFE ASSOCIATION OF AUSTRALASIA. We have received ihe twenty-third annual report of the Mutual Life Association of Australasia, read before the annual general meeting of policyholders, held at the Association's offices, Wynyard-strest, Sydney, on ,„, ' - 3rd March, 1892. The Thursday, • f report is one continue exampled prosperity and progress... ness, and the following facts and figures will be of interest to our readers, especially in these days when we hear accounts on all sides of the rottenness of large financial institutions, both in this and in the neighbouring colonies, During the past year the new business reached the enormous sum of £740,031 10s, the total number ol proposals received numbering 3,060. Out of this total, 2,278 proposals ware accepted for a bum of £518,906 10s, leaving a balance of 782 proposals, declined, not taken up, or in course of completion, for £221,125. To these amounts must be added 80 proposals for £14,875, not included in the financial year for 1890, makisig a grand total of policies issued during the year, and in force of 2,858, representing insurance to the value of ' £533,781 10s, The policies of the Association in force on 31st December, 1891, were:—l 6,262 Assurances, amount' ing to £4,215,801 lis 2d; 1,055 Eiulowraentß,£ls6,Bs4; 27 Annuities, £1,01718* Oil. Total, 17,344 Policies, amounting to £4,378,673 4s 2d, The annual premium income ot the above, amounts to £149,858 17s lid, and the annual interest on investmeiits is £50,21117s Id, The total yearly revenue from all sources is thus over £200,000 I How successful thipolicy ot economy that characterises the management of ihis Association has proved,.is shown by the fact thai while the expenses are less than in 1890, the premium receipts are yet £8,346 more, and the "lay by" amounts to £70,578, increasing the accumulated funds to over £874,000. The amount now available for distribution amougst policy-holders is £43,000. This sum has been allotted by the Actuary upon a strici " pure premium valuation" and, considering the brief period that has elapsed since the last Actuarial investigation, proves Conclusively that the Association is upon a Bound basis, and well and economically managed, The next distribution of surplus funds will take place on the 31st December, 1894, and trienially thereafter. The bonus certificates now being completed, will show reversionary additions amounting to £95,000; and it is expected, will be ready in May next, These figures speak for themselves, especially in view of the Btriot bases of the Valuations from whioh they liavo arisen, and should justify the continued confidence of the members in the Mutual Life Association of Australasia as a steadily progressive, permanently stable, and increasingly prosperous office, to which may sifely bo entrusted the money which every prudent head of a house should regularly lay by as a provision for those dependent on him, and who,'in event of his.death, would otherwise be left unprovided for. Mr C, J. Owen is the resident Secretary Association in Wellington, and''this '"district is ably represented by Jlr : ]?i'jt)il),.of llastertoto, wbpjyilj'be pleased at' all.''tJnies.t'o give every-Information i.ogarding the Association and the speoial terms and facilities it offers to insurers. •■