COLONIAL MUTUAL LIFE
Excelling its previous highest production of new sums assured by nearly £10.000.000. the Colonial Mutual Life, during the year ended 31st December. 1955. placed on its books new business to the extent of £74.610,190. To this record total the Society’s New Zealand Branch alone contributed nearly £15.000.000. Staff Superannuation and group assurance schemes were again responsible for a substantial portion of the new business written. The Directors announce a further substantial increase in bonus rates. The Society’s total income for the year was £21.059,989. a record figure. The gross rate of interest earned by the Society on its Assurance Funds rose to £4 14s lOd per cent, and the nett rate, after deduction of land and income tax. to £4 6s 6d per cent. During the year the Society paid to policyholders or their dependants £7,303.788. bringing the total of such payments since the ’’nception of the Society to £92,774.115. Policyholders’ tunas rose by nearly a 10.000,000 to £103.600.146. ' The Society’s plans for home finance • u *ual Principle again proved •ghly popular with those desiring to their own homes. —P.B.A.
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Press, Volume XCIII, Issue 27990, 9 June 1956, Page 12
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183COLONIAL MUTUAL LIFE Press, Volume XCIII, Issue 27990, 9 June 1956, Page 12
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