AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

Ashburton Guardian, Volume XIV, Issue 2970, 11 May 1893, Page 2

AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

» Sydney. May 9. The forty-fourth annual report of the Australian Mutual Provident Society was issued to-day. The report is somewhat bulky, as it contains an appendix of sixteen pages supplying certain schedules and returns required every three years by the Governments of the various colonies. On this occasion these schedules are prepared in each case in conformity with the legislation of the colony in which the report circulates. The new business of the year 189S is represented by 12,515 policies, assuring £3,791,221, and yielding an annual premium revenue of £126,013 19s 6d. The claims by death amount to £429,470, being much less than the amount paid for the previous year. The total annual revenue is £1,96!), 123 5s Id, and the accumulated funds, which have been increased during the yeir by £796,411 18s lid, now amo ;at to £11,328,448 8s lid. The report of the actuary gives the most complete information respecting the society's business. The policy liabilities have been valued on the same stringent basis as was employed last year. Special extra reserves amounting to £158,011 3s have been made; the values of office premises have been written down by £19,63) 19s 2d, and the sum of £61,500 has beei set aside as an additional reserve for possible depreciation of mortgage securities. Notwithstanding these precautionary measures, however, the cash surplus available for division among the members amount* to £504,261 5s lid, which will provide reversionary bonuses amounting to £1,030,000.