RECORD NEW BUSINESS

Press, Volume C, Issue 29672, 16 November 1961, Page 4

RECORD NEW BUSINESS

T. & G. Mutual Life Society

The Directors of the T. & G. Mutual Life Society report that the New Business cornDieted during the Financial Year ended September 30. 1961, was a record in the history of the Society. In the Ordinary Department M. 06 policies were Issued with premiums amounting to £2.413.47# per annum. These policies aesnred £5».817A31 (excluding sums assured under contracts for temporary assurance) and £IM44« per annum of annuities. In the Industrial Department. 34,433 policies with premiums amounting to £277.479 ner annum were Issued. The sums assured were £5,449.M1. In the Accident Department. 9341 Personal Accident and Sickness policies were fcwur' with premiums of £75.13# per annum.

A substantial proportion of the New Business secured in the Ordinary Department was wain obtained from Staff Superannuation and Group Provident Schemes. The whole of the New Business was written in New Zealand and Australia as the Society does not transact business elsewhere. The comparable figures for ttie previous year were as follows: Ordinary Department: 54.689 policies with premiums of £2.320,757 per annum, sums assured of £63.171,600 and £130,562 per annum of annuities. Industrial Department: 36,829 policies with premiums of £268.112 per annum and sums assur ed of £5.330.277 Accident Department: 8213 nottcies with premiums of £63.172. These amounts are all expressed in Australian currency. --PBA