A.M.P. SOCIETY.

Auckland Star, Volume XLIII, Issue 106, 3 May 1912, Page 6

A.M.P. SOCIETY.

RECORD YEAR'S BUSINESS. (By Telegraph.—Press Association.) "WELLINGTON, Thursday. The sixty-third annual report of tlio A.M.P. Society, just issued, states that the amount of new business transacted during the year in the ordinary department once more constitutes a record, being in excess of the previous year by no less than £533,45::5. Policies to the number of 21,783 were issued in this department, assuring £0.323,479 and yielding annual premiums amounting to £201,791, the net gain in the amount of business m force being £3.081,410. The new premiums amounts] to £313.373 9/, of which Xll.">..">ti."i 11/11 represented single payment*. Iv the industrial department 27.054 policies were issued, assuring £f)SO.SUS, with :innual premiums of fli-2.S«n, Claims by death Jn the ordinary department, amounted to X. S7."i.!>4S. including .U2fjl,----753 for bonus additions, the experience in ibis respect being asain extremely faI vourable. The ut*iial searching investiI gation was made into mortgage securi- ! ties, and it was muni necessary to writ.I on" the sum of £1722 from the value ol | foreclosed proporties, the value of office premises being written down by £ 12,5,"iii. The report of the actuary (Mr. Rich ard Te(*-e) indicates that the policy ot gradually strengthening the reserves has been fully maintained and extended, an 1 that the reserve of undivided profits amounts to £202,000. The cash surplus I available for distribution in the ordinary I department amounts lo £570,141, which will provide reversionary bonuses amounting to about £1.550.000. The rate of expenses in this department, is cxi tremely moderate, being only 8.49 per J cent, of the year"? rewipts. The etTt-o----i tive rate of interest earned by the fnnd* stands at the very satisfactory ticrure ot £4 11/9 per cent,. In the industrial department the valuation of policy liabil'j ties discloses a surplus of £."4,700, and it is announced that a portion of this will be applied in the allotment of bonuses to policies over five years in force. The business in force at the end of the year consisted of 74.94$ policies, assuring £2J3l3.S<;ti 5/, and producing an annual premium income of £ir>ti.So7 lfi . The actuarial valuation now presented exhibits -in excess of funds over liabilities of £34.609 11/8. The accumulated i fund, including the amount at credit of the. industrial depart has been increased by £1.411.756 Iβ '0. and now amounts to £25.40f1.f>i17 12 5. which includes a sum of £12,147 S/ ir. the claims investment accounL The report, .is a whole, is of a highly satisfactory character, mid reveals 'a condition of continued prosperity.