NATIONAL MUTUAL LIFE.

Auckland Star, Volume XLIII, Issue 304, 20 December 1912, Page 7

NATIONAL MUTUAL LIFE.

annual ___rrrNG OF the ASSOCIATION. Tie National Mutual Life Association, of Australasia, has an enviable record of success since its inception by a few en___i*a_"tic gentlemen in Melbourne in the year 1869. Established on the purely mutual system in that year, the first payment of £6 0/10 was made by the late Col. Jas. M. Templeton. The funds of the association have now reached the sum of over £7,291,000, as at 30th September, 1912, being the asserts belonging to the members at that date. The 43rd annual meeting of the members was held in Melbourne on the 18th inst., when the revenue account and balance-sheet for the year ended 30th September, 1912, was submitted. The princ-pai features of the year's -working disclosed are the great progress made by the Association, a record year in the amount of new business written being £-,593,800, or £150,000 more than the year previous, and a reduction in the rate of the working expenses of over one pound three shillings per cent., which must be very gratifying to the members. The increase in the reserve funds for t_te year amounts to over £590,000, the total reserve now standing at over £7,----291,291, with a fluctuation ftmd of over £68.000. A tribute bo the management is the great increase of new business during the year, and the reduction of expenses. The Nationa." Mutual has the dis-tmcfcion of being the first office in the world to keep policies in force out of surrender value, a highly popular measure in life assurance. Its 43 years' record cannot be beaten. Claims paid, £_.075.060; income, £1,----234,364; funds. £7,291,291; amount assrared, £26,238,669. The manager in Auckland is Mr J. Kew-Ha_ty.