T. AND G. MUTUAL LIFE SOCIETY.

Evening Star, Issue 20672, 20 December 1930, Page 15

T. AND G. MUTUAL LIFE SOCIETY.

ANNUAL MEETING. SOUND FINANCIAL POSITION. MELBOURNE. December 19. The fifty-fourth annual meeting of, the T, and G. Life Society was held to-day, the managing director (Mr J. T. Thompson), presiding. The Chairman announced, that tha new business, comprising 142,188 policies, assuring £12,318,702, exceeded tha previous year’s total by £98,992. In’: addition 1,098 personal _ accident and: sickness policies, -assuring £721,750,. were issued, and 965 policies in tha ordinary department were endorsed;' with accident / benefits, assuring £1,133,985. All of this "business was written in Australia and New Zealand,Tbo total income-was £3,856,035, while payments to policyholders amounted, to £1,507,239. The chairman .said that the assets, amounting to £16,068,017,. were not affected-by Stock-Exchange fluctuations. The policy of the board has been to invest' in high-grade securities, with tho safety of the principal the main consideration, yet the average rate of interest on the mean funds was £5 17s 3d per cent, per annum. The actuary’s valuation of under policies disclosed a sound position, _so that tho same bonus scale is being maintained, but the chairman said that policyholders’ returns in future will.-he influenced largely by the extent of taxation imposed. The meeting concluded with an expression of the board’s deep appreciation of the' efficient and loyal service of tho staff-.