AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

Auckland Star, Volume XXI, Issue 120, 22 May 1890, Page 5

AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

We have before us the forty-first annual report and balance-sheet of the above very successful colonial institution, as published in this day's issue, which disclose the gratifying fact that the new business for the year 1889, far from showing any signs of diminution, is one of tho best ou record, attaining the enormous total of 11,664 policies, assuring £3,679,459, with new premiums amounting to £135,411, a remarkable result in these days of excessive competition. The following comparative statement of new business effected during the lasb quinquennium will doubbless prove inberesting :—ln

being, with two exceptions, the largest amount ever transacted by the Society in a single year. The cash bo,ius for the year in like manner fully maintains its former phenomenal standard. Here is the comparison : In 1887, the cash bonus was equal to 406 per cent, on tho premiums received during the year; 18S8, 41-3; 1889, 415. The accumulated funds now amount to £9,000,000 sterling, having been increased by £742,311 8a 2d during the year, as against £726,064 in ' 1888. The rabe of interest realised on the invested funds was £6 0s Id per cent, as against £5 19s 4d at the end of 1888. Claims have arisen under 735 life polices by the deaths of 649 members amounting to £380,025 17s, whilst bhe number which might have been expected by the Institute of Actuaries' H.M, table of mortaliby was 1,143 for an aggregate of £438,976. The actual experience was therefore only 64£ per cenb. of bhe expectation. The cash bonus to be divided for the year is £426,494 3s 6d as against £400,893 6s lid in 1888. We must nob omib to notice that out of 141,907 policies assuring £49,417,717 issued by the Society since its foundation in 1849, there remained in forco on the 31sb December, 1889, no less than 94,098 policies, assuring £32,800,395 ; in other words; at the end of 41 yeqrs the Society had on its books in full force, 66*3 per cent, of tho total policies and 66'4per cent, of the sums assured, a splendid result, and one probably unique in tho history of life assurance. With a total annual income of £1,625,184173, the A.M.P. may well claim to be a power in the life insurance world.

1885 the new assurances totalled, £4,016,211 1886 ' 3,693,324 1887 3,223,345 1888 3,047,541 1889 3,679,459