Good half by Cap. Life

Press, 22 July 1976, Page 18

Good half by Cap. Life

I Capital Life Assurance. Ltd, wrote new business of $6,283,994 (sums assured) during the six months to March 31, the directors say in the half-yearly report.

At March 31 there were 5384 policies current; sums assured were $54,298,096, and annual premiums were $1,844,168. During the period, the life assurance fund increased $834,514 to $2,566,459. Premium income tor the period was almost SIM. Net investments increased from $2,545,493 as at September 30, to $2,997,534 at March 31. Investment income during the period was $100,386. as a percentage of average investments, this is a yield of 7.2 per cent a year. Shareholders’ funds at March 31 were $750,598 — having increased during the period by $25,654. being shareholders’ share of total

I investment income. During I the corresponding period of Ithe prrvious year, the shareholders share of investment income was $24,688. In addition to investment income, shareholders funds receive a share of the life assurance fund surplus, which is valued at the end of the financial year. The directors say that they expect a transfer for the current full year to increase slightly over t previous year’s transfer of $26,989. Paid capita] was unchanged at $611,000, and retained profits were $139,598.

“The favourable trends in new business which became evident towards the end of the previous financial year continued during the period under review. The second half of the current year will be stronger and we expect the full year results to be i ahead of the previous year by a satisfactory amount,” the directors say.