The Prudential Assume Company, Limited

Auckland Star, Volume LXXII, Issue 228, 26 September 1941, Page 8

The Prudential Assume Company, Limited

(Incorporated in Eaghit) If

ASSETS INCREASE BY OMilß* TO ||pH 93 PER CENT OF B """ BRiTisif ■ A national institution renderiV* national service—this is the !■■■ sion gained from a perusal vst 92nd annual report of the FnMpp Assurance Company for 1940. As the largest insuranertß ■ pany in the British of Nations, this vast forms a vital part of the'AHß social and economic life; and Kilt the light of this that accounts of the company awaited with interest by JBtSi circles elsewhere. The impact of wartime cdißK on the Prudential revealed by the figures and Ifcfc facts set out in the statementlMj chairman of the company, Sirflpr Home, Bart. Considering f » national duty to contribute Ijj* fullest degree to the Britisii JSMjf war effort, the company practical effect to its wartnbfcfßff (1) By investing to the faMl* sible extent in war loans the Empire. (2) By limiting company's funds almost entjwfr." avenues within the British BflS —the latest accounts per cent of funds are so invesiaLfg^H *3) By direct contribution of HJ* power to the Army, Navy ani JJ Force to the extent of nearly members of the male staff, no less than 54 per cent of staff. " (4) By continued waiver naval, military or air force ditions embodied in any of theflj pany's life assurance policies IS® from the Australian and land branches on or before Sgj* ber 25, 1939, which were in that date. This full support of cause is constantly before the Pj*r Having contributed £5,000,000 to® war loan in England in MarßVjj the company bought National War Bonds in Jofcr: latter is probably the largest investment for a term of made by a single institution ft amount. Further, the has continued to support 'war®* and savings bonds in with "War Weapons Weeks participated in the efforts in 200 towns and districts* The accounts for 1940 also that the assets of this sation now total £364,85WW-„ increase of over £10,000,000income was again over weekly, totalling surplus in the life branches to £8,572,012, including brought forward, and °» £4,475,000 was carried to Bb funds and £2,000,000 to lnvesm*- u reserve funds. New Business A striking feature of results has been the manner «Wjj the organisation has produce a vast new of the obvious difficulties the war, the total new sums H| issued in 1940 in the life ni *ss amounting to £84,800,054, H must rank as an outstanding "PJJjj. ment. The consideration ties granted amounted to> H The sums assured, including $ additions, in force -in H branches now amount to In the general branch the transacts fire, accident anu insurance business and vk. g■> premiums received amo rpjofA £2,422.474. The surplus was B including £220.974 brought Hi In brief, the guiding ■B operating behind these figutj*i H aptly expressed by tte "The business of the Pru«®, H so wide and varied in constitutes such an of the social and econonuc nation that its maintenance level of efficiency is an to the public which the difw»* y■» must be discharged at all (P.B.AJ ■