The Mutual Life Association of Australasia

Wairarapa Daily Times, Volume XV, Issue 4720, 16 May 1894, Page 3

The Mutual Life Association of Australasia

h Prosperous Institution The twenty • third annual general meeting of the above Association was held at Sydney on Monday, 23rd April last. The Directors' report, submitted ifq the members, remarks that even though new business was naturally difficult to obtiui}, ouing \p tlic wide'sproad.flimnclal pressure in Australia, yet they had to chrorielcavcry successful year's work. Tho proposals numbered 1581 for tho year, giving assurance for £383,921. The tola! policies in force on 31st December, 1893, were 17,103, amounting to £4,250,967 •Is 2d, and these produce the handsomo annual premium income of £146,032 lCs. The annual interest on iuvestm ntsis £50,7G0 13s Cd, and the total yearly revenue from all sources is over £200,000. Expenses have been further cut down, and show a reduction of four per cent, in the rate during the last two years. Notwithstanding the substantial saving in expenses, the new business lias been well maintained, and tho complete confidence felt in the Association _ is shown by the prompt manner in which lonewal premiums arc paid. The mortality experience continues very favorable. Members arc reminded that the tricmiial investigation to ascertain the surplus available for distribution will take place at the cud of 1894 The New Zealand business lias boon very satisfactory, from which it is evident that the Association is very favorably regarded iii this Colony, mainly on account of ;thp slow and sure method it has of doing business, and the careful, .though steadily progressive policy of its able Directors. We congratulate tho Mutual Life Association of Australasia on ; its ■liigl'iy satisfactory rwordjmtlioyear.