A.M.P. SOCIETY

Evening Post, Volume CXXIX, Issue 21, 25 January 1940, Page 13

A.M.P. SOCIETY

AMAZING PROGRESS

• DINNER TO FIELD STAFF

Representatives from all 'parts of J~ both islands were present last "night, .- at a complimentary dinner tendered Vj to the ordinary department field staff , .\ of the Australian Mutual Provident - .^ Society. The amazing progress which, tfye society has made in its ninety i years' existence—for nearly seventy; -: of which the society has been estab- '- lished in New Zealand —was record- ; edr The sums assured under New. ' Zealand policies now total appro^-i mately £04,000,p,0q. u ijy/ . 0 ,_ Proposing the toast of "The A.M.P. / Society," the" chairman . of. .the ' Nevr ~ Zealand board, Mr.,.J; G. -Duncan, - said that the life history of the society . was an -account .of an endeavour to ... play its part in improving society ' generally, so that greater-blessings, 'might come to, the whole of the people .. from the good things offered, by. an' ; all-wise Providence. The had *;' not. only conducted its'business for >v, the benefit and security bx its policy-" holders; but had also directed its in----\. vestments in the public interest - Ithad helped-materially in the developr " ment of Australia and New" Zealand ... by its financial assistance to primary •?. production. , • ' ■ '.• ' ■ - . ENTERPRISE STIMULATED.' ''. It had stimulated enterprise and invested surplus funds in Government _- stock, loans to county councils, muni- . cipalities, harbour, boards, and local governing bodies. Though it had ""• grown till today it was< prepared to -. write policies for . fabulous sums, it .. - still continued' to observe the true • spirit of mutuality embodied- in its ; = name, giving to all policy-holders, n large and small, equality of treatment, -■ and never swerving . from its high * : social ideal of helping, supporting, and encouraging when these v things •'- ---were most neededi ■ '' In responding to the toast, the • "general manager for JSTew Zealand, Mr. W, T. Ikin, said that the ,New Zealand • branch of the society was established., • on July 1, 1871, the annual, premium income being, then^ £17,196, produced ,- from 1045 policies, assuring £496,000. At the present' time there were in ;'< force on the society's New Zealand / registers more than, 230,000 policies , for sums assured' totalling' approxi-^\; mately - £,64,000,000, while the annual \ premium income had grown'to more than £2,000,000. Adding to this, the ~ £871,000 interest received,on invest- -*. ments, the gross revenue of the New ■ -i Zealand branch for ia39 was nearly - £3,000,000. " INVESTMENTS IN DOMINION. ~ Of the society's , assets of £120,000,000 which guaranteed the # whole of its contracts, £20,000,000 was invested in New Zealand as follows:—Loans on mortgage, £4,000,000; . local bodies, £8,500,000; loans on- poli-' cies, £1,750,000; "Government -stock, • • £4,000,000. : . •• -. ; Other toasts honoured were:—"The "" New Zealand Association of,, Field- ■ Representatives," proposed by- Mr. .-. Ikin, and responded to by Mr. A. M. .' Robertson; "The New Zealand -Local; Board," • proposed to by Mr. F. M. . Ward and responded to by Messrs. D. R. Menzies and J. P. Phillips; "The"' Office Staff," proposed by Mr.-J. W. .- Carr and respondei to by-Mr.-D. M., Hay; "The Field Supervisors/ proposed by Mr. Robertson and- respond- -, ed to.by Messrs. ,H. S. Beaumont,-F. W. Chapman, and W. Pearson. ■: During the evening the chairman presented the following trophies:— •- Champion agent, Mr. G.-N. Newton ■- (Hamilton), for writing ' £353,166 of , new business for 1939. District representative securing highest new business a head of population, Mr. Newton (Hamilton). Trophy for second agent in . New Zealand, Mr. F. M. Ward . (Timaru).' ' ' Directors' trophy for district .office • ;... competition for net increase results, • New Plymouth district office. . . <"