MUTUAL LIFE SOCIETY.

Grey River Argus, 8 December 1928, Page 3

MUTUAL LIFE SOCIETY.

ANNUAL MEETING. WONDERFUL GROWTH. MELBOURNE, December 7. At the fifty-second Annual Meeting of the T. and G. Mutual Life Society held to-day (Friday 7th December) thV Chairman. Mr J. T. Thompson, said that he felt sure that every policy holder would be pleased with the results. New business consisted of 148.630 policies assuring £11,498.725, the largest volume ever written by the Society in one year. The Total In come had increased to £3,312,151, while the Payments to policyholders exceeded £1.000.000. The addition to the Assurance Funds was £1 449,895, while the Assets nqw amounted to £l3 417,203, of which £9,577.923 is invested in Government and Municipal Securities. The Rate of Interest on the Mean Funds had increased to 14s per cent. The Actuary’s Report showed a surplus of £463.930, which would be distributed in the usual form of Reversionary Bonus additions to the Sums Assured and also other benefits to policy-holders. Speaking gen erally, the Chairman said that the re suits were right up to expectations, there had been a record new business and a record increase in funds and there was exhibited a statement of assets showing an absolutely safe and satisfactory financial position.

In conclusion the Chairman said that by efficient management, by the enthusiasm and loyalty of the Staff ami the considerate attention to the needs of its policy-holders, the Society was bound to progress and enjoy the same popularity as it does to-day.