COLONIAL MUTUAL LIFE
A new business record total of .C. 32,497.874 ordinary and industrial sums assured was achieved by the Colonial Mutual Life Assurance Society Limited, in 1947. This total was approximately £5,000,000 in excess of the new business completed in 1946. A record in new business production was also established by the New Zealand branch. The society’s total income increased by over £1.000,000 to £8.969,241, the income of the ordinary, industrial and accident departments being £7,105,720, £1,654,231 and £209.290 respectively. Total premium income was £.,070,494. an increase of £887,298 and a record for the society. The gross rate of interest earned on the assurance funds of all departments was £4 Is lOd per cent. After allowance for taxation the net return was Total Assets rose to £49,243,442, of which over 60 per cent is invested in Government. municipal and other stocks and debentures. Over £3,000,000 was paid to policyholders during the year u
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Bibliographic details
Gisborne Herald, Volume LXXV, Issue 22663, 14 June 1948, Page 2
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154COLONIAL MUTUAL LIFE Gisborne Herald, Volume LXXV, Issue 22663, 14 June 1948, Page 2
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