MUTUAL LIFE ASSOCIATION OF AUSTRALASIA.

Auckland Star, Volume XXII, Issue 91, 21 April 1891, Page 5

MUTUAL LIFE ASSOCIATION OF AUSTRALASIA.

The annual report of the Mutual Life Association of Australasia has been forwarded to us by Mr W. T. J. Bell, the local manager. The Association continues to make steady and wonderful progress year after year, and ib would appear thab tho life insurance business is increasing aba creator rabio than the. population. The reporb sbabes that " During the past year 3,421 proposalsforinsurance have been marie for sums aggregating £858,730, of which 969 weie declined, thus leaving 2,452 proposals accepted, for turns equal to £596,335. At the close of the books at the provions annual balance 157 policies were not completed. These have been completed during the past year, thus making a total of new business added duiing the year of 2,609 policies for £632,510. Of these policies 184 were for endowments for £32,934. The new annual premiums added to the Association's transactions for this business are £21,402 19s. The Association had in existence at the close of last year 15,791 assurance policies for sums amounting to £4,144,007 lis 2d ; 979 endowment policies, for £145,664 ; and 22 annuities, amounting to £593 3s ; making a total of 16,792 policies of all classes, amounting to £4,290,254 14s 2d. The annual income is £147,100 14s 9d, and the annual interest obtained from the investments made is £47,909 4s, making a total yearly revenue of upwards of £195,000. The mortality statistics recorded are considerably under the expectations, showing that tho tables framed are considerably on the side of safety. At the end of the present year the actuarial investigation is to take place, and it is anticipated that the two and a-half-yeara' business will be of such a character as to afford a substantial bonus to tbe policies then in existence, and as this fact is usually made a feature of in life assurance business, ib may be expected that th.B circumstance will add to the increase of business during the current year." Attention is drawn to the fact thab no money has been advanced on personal security, and that no premiums are unpaid. We are informed that the Secretary has received a cablegram from the general manager, informing him that the annual gathering ot members, which took place yesterday in Sydney, was the most enthusiastic meeting ever held.