A.M.P. SOCIETY.

Auckland Star, Volume L, Issue 111, 10 May 1919, Page 8

A.M.P. SOCIETY.

St_.nNTY YEARS' RECORD. 39 MILLIONS IN HAND. The 70th annual meeting of the Australian I'nited Provident Association in Sydney, as a result of the influenza regulations, was bold in the open air, on tho flat roof of the society's building. The two retiring directors, Sir James 1 j Burns and Sir Samuel Hordern, were re- ,' j elected, lieing tho only candidates. The I j chairman, Mr. A. YV. 'Mocks, M.L-C, rc--iferring to a Victorian proposal for the II establishment of a Stnte Life Insurance M Department, remarked that in the Govj eminent Life Insurance Department of i New Zealand, which was recognised as 'the most successful State department of f |tbe kind in the world, altlrough it had "jbocn in operation since IS7O. the busiJ ne«s accumulated and bonuses distributed were inferior to those relating to • I the Now Zealand branch (opened in '|]S7I) of the A.M.P. The premiums re'lceivod during the society's 70 years of '.life, including consideration for annui- ', ties, amounted to £(i5,04.,.n,.2, and initercst to £34,110,318—11 total of £102.- ---' 100.231*. Payments for claims, annuities, cash bonuses, and surrenders ' amounted to £54.002,523. while commission, expenses of management, taxes, etc., had absorbed £8,807.410. The funds in band were now £37.571.207 in the ordinary department, und £1,010.074 in the I industrial—a total of £30,100.281. j The now business transacted during .'the year was by far the largest in the 'society's history, and over .'IS per cent jof it was represented by further policies j taken out by existing members. It .amounted to £7,081.170 in the ordinary department and £1,51)7.252 in the industrial. The aggregate for the two do. ; partments was £1,7311,188 in excess of j that for tho pre\ious year. The society's war loan schemes proved very popular. The total income of the ordinary department for the first I time exceeded £5,000.000, while that of the industrial department bad now I passed the half-million mark, tho comI bined receipts in the two departments being nearly £300,000 more than in tho previous year. On the outgo side, claims by death were about the same as in 1917. the decrease in wnrolaims being to some extent balanced by influenza claims in Now Zealand. New Zealand's new business fiixures constituted not only a record, but nn easy one. They were £1.070.500. or an increase of £853.000 over tho previous year. Hut for the influenza they would j have boon considerably higher. Thp industrial figures were also most encour- i aging.