Page 9 Advertisements Column 2

Press, Volume LXXXVIII, Issue 26723, 6 May 1952, Page 9

THE PRODUCERS AND CITIZENS’ CO-OPERATIVE ASSURANCE COMPANY, LTD. The following information has been extracted from the Chairman’s address at the 31st Annual General Meeting of THE PRODUCERS AND CITIZENS' COOPERATIVE ASSURANCE CO- LTD. 1. New Business for the year ending 31st August, 1951, totalled £1,550,051. the highest for 23 years. The average size of Policy completed for the year amounted to £596 as compared with £457 the previous year. 2. The premium income increased from £280,055 for 1950 to £314,297 for 1951, showing that the renewal percentage has been well maintained. 3. The Expenses of Management have gradually decreased over the last 5 years. 4. The funds of the Company now total £2.170,470, representing an increase of £208,219 for the year under review. 5. The actuarial valuation this year has been further strengthened to a 3J per cent, basis and estimated by the Actuary to absorb £90,000 of Reserves carried forward from previous years. 6. The net interest rate was £4 6s 5d per cent. With the Actuarial valuation on a 3j per cent, basis, this high interest rate provided a considerable avenue of profit for the policyholders. 7. The bonus rate to adult policyholders has been maintained. 8. Reserves totalling £94,914 have been carried forward providing for the Reversionary Bonuses allocated to policyholders and for the more stringent valuation, 9. All investments and assets are in first-class order while there is a very substantial and favourable margin existing between the book and the current market values of freehold properties. Advt.