NATIONAL MUTUAL

Evening Post, Volume CXIII, Issue 74, 29 March 1932, Page 10

NATIONAL MUTUAL

SURPLUS OF '£1,660,357.

The actuarial investigation of the National Mutual Life Association of Australasia, Ltd., made by the general manager and actuary, Mr. E. J. Stock, revealed at 30th September, 1931, a surplus of £1,660,357 in the. assurance fund. The assurance fund amounted to £34,558,434, and the net liability of the association under its policies, assuring £97,157,985 and providing annuities of £59,719, was £32,898,077.

The directors have approved of Mr. Stock's recommendation that of the surplus total of £1,660,357 for the past year, the sum of £1,077,760 be apportioned as a bonus among members, and that £429,452 be carried to investment fluctuation . reserve (increasing it to £600,000), leaving £153,145 to be carried forward.

Cash value of the bonus allotted in''the previous year to 30th September, 1930, was £1,223,647, and to 30th • September, 1929, £1,256,367. With the amount of £20,059 paid in- intermediate bonuses on policies which became claims the total surplus for the three years was £4,160,430, against £3,431,655 in the previous three years to 30th September, 1928. Total income for the last three years at £14,680,456 showed an: advance, of £1,290,433 over-the preceding three years, and payments to policy-holders at £7,970,491 are greater by £2,258,123.