MUTUAL LIFE AND CITIZENS
Sir Henry Braddoh, of the Mutual Life and Citizens' Assurance Company Ltd., Sydney, said that last year the company, in addition to subscribing to war loans in New Zealand. Canada and the United. Kingdom, had subscribed more than £1.500,000 to the Commonwealth new loans in 1940. This sum was more than one-fiftieth of the total sum raised. He continued that war claims paid, and in the course of settlement, amounted to more than £40,000. A number had arisen through enemy action against British merchant shipping, and through air fatalities. Others had arisen through the participation of Australian and New Zealand forces in the campaign in North Africa. *
Assets of the company amount to £31,897,715; life policies in force numbered^ 707,740 assuring the sum" of £93,324,084. All policy liabilities have been valued on a net premium basis, the rate of interest assumed being 2J per cent.—"the most stringent basis in use in Australia." »
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Evening Post, Volume CXXXI, Issue 100, 30 April 1941, Page 12
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156MUTUAL LIFE AND CITIZENS Evening Post, Volume CXXXI, Issue 100, 30 April 1941, Page 12
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