T. & G.

Grey River Argus, 19 December 1941, Page 5

T. & G .

MUTUAL LIFE SOCIETY ' STRONG POSITION Melbourne, December 18, 194 L The sixty-fifth Annual Meeting of the T. & G. Mutual Life Society was held to-day. The Chairman, Mr J. T. Thompson, reported that tne sound growth of the Society had been well maintained.! The new business completed in the Ordinary and Industrial Departments consisted of 159.244 policies assuring £14,827.338, all of which was obtained in Australia and New Zealand The Acc’dent Department issued lo.UoL) policies assuring £4,262.991 and further Accident Benefits assuring £3,059,141 were added to 25,393 ordinary and industrial policies.

The income for I he year amounted Io £6.795,205 and lho assets increased by over £2,350,000 to £37,037.812 held in (rust to meet policy liabilities. Payments to policyholders reached the record lof al of £2,970.740. The rate of interest on the Moan Funds was £4/9/11 per cent. The Society has invested to the limit of its capacity in the various War Loans in Australia and New Zealand, the sum of almost £2,000,000 being contributed to Government Loans during the year.

The Actuar'al Report, disclosed a surplus of £894.975 of which £lOO.OOO has been set aside for Actuarial contingencies. As there are no Shareholders, the greater portion ot the surplus will be distributed as Revisionary Bonuses to policyholders.

After referring to other important features in the Report, the Chairman stated that the results achieved were most satisfactory. He reported that over 500 members of the Society’s staff have enlisted for Active Service and he expressed the Board’s appreciation of the efficient and loyal '•ervices nf both the Field and the Indoor staffs.