NATIONAL MUTUAL LIFE ASSOCIATION.

Evening Post, Volume LVI, Issue 156, 30 December 1898, Page 5

NATIONAL MUTUAL LIFE ASSOCIATION.

[PRESS ASSOCIATION.] , Melbourne, ?9th December. The annual meeting of the National Mutual Life Association passed off successfully, the report being unanimously adopted. Messrs. Boyles, Carter s and Langton were re-elected directors. The report submitted by the Directors shows a highly satisfactory year, as the new business transacted — viz., £1,206,814 7s 9d, exceeds by nearly £100,000 the sums assured by the Association in any one year since its establishment. The interest earned amounted to £132,154, or £4 18s 3d per cent, of the average amount of the funds invested. Compared with any previous year of the history of the Association, that just closed shows a greater accession of new members, a larger revenue, and a larger sum added to the invested funds, which at the olose of the year amounted to £2,765,571. The New Zealand business for the year has also been very satisfactory, policies covering £258,550 of new business having been issued. This is the largest amount ever written by the office in one year, and is £27,400 in excess of last year's work. Notwithstanding the increased amount of new business written, it must be gratifying to the members to learn that the expenses of obtaining it have also been reduced. The bonus certificates for the triennium are now being prepared by the actuarial staff, and will be issued to members early in the year. The local directors are Messrs. E. Pearce, J. Duthie, M.H.R., and A. E. Pearce. Mr. Orton Stevens is the Resident Secretary for the colony.