T. & G. MUTUAL LIFE SOCIETY.
ANNEAL MEETING. GREAT EXPANSION. MELBOURNE, Dee. 9. At the fifty-first annual meeting of the T. <fc G. Mutual Life Society held to-day (Friday, 9th December, 1927), the chairman, Mr. J. T. Thompson, said that record progress had been made in practically every department of the Society’s business. New business comprised 149,290 policies, assuring £11,453,503, an increase of £1,012,241 over the previous year’s total. The total income bad increased to £3,023,678. No less than £885,904 was paid to policy holders. Death claims were well within actuarial expectations. The assurance funds had a reeoiu increase of £1,364,718. The assets amounted to £11,682,960, or which 75 per cent, was invested in Government and municipal securities. The Society’s mortgage connection had been extended, and great progress had been made with the erection m new premises for the Society in.Mel-' bourne and Wellington. These premises are erected primarily for the housing of the Society’s' growing staffs, but would prove remunerative from an investment point of view, particularly as tlii* building sites were purchased originally at prices wen below present market values. Tlie rate of interest on tlie Mean Funds had increased to £5 13s 3d per cent. The actuary’s report showed a record surplus'of £41)1,606. The bonus scale in the ordinary department had been increased and other benefits’ and concessions in both ordinary and industrial departments were granted to policy-holders. These wonderful results in the face of many difficulties reflected great credit on the start', whose loyalty and enthusiasm were deeply appreciated by the Board. In conclusion, tin managing director said that the Society’s satisfactory position had been built up on sale principles and that the Society existed to serve its pol-icy-holders. Tlie Board was justified in' believing '.that the Society’s popularity and success were in a large measure duo to the general appreciat ion of the Society, s methods ;ukl t< the consideration always extended to its members. ______
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GIST19271210.2.27
Bibliographic details
Gisborne Times, Volume LXVI, Issue 10456, 10 December 1927, Page 7
Word Count
319T. & G. MUTUAL LIFE SOCIETY. Gisborne Times, Volume LXVI, Issue 10456, 10 December 1927, Page 7
Using This Item
The Gisborne Herald Company is the copyright owner for the Gisborne Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in