T. & G. MUTUAL LIFE SOCIETY

Hawera Star, Volume XLVIII, 8 December 1928, Page 5

T. & G. MUTUAL LIFE SOCIETY

ANNUAL MEETING-

WONDERFUL GROWTH. MELBOURNE, Dec. 7. At the fifty-second annual meeting of the T. and G. Mutual Life Society held to-day, the 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 largesit volume ever written by the Society in one year. The total income had increased to £3,312,151, while the Payments to policy holders exceeded £1,000,000. The addition to the assurance funds was £1,449,895, while the assets n-ow amounted to £13,417,203, of which £9,577,923 is invested in Government and municipal securities. The rate of interest on the mean funds had increased to £5 14s per cent. The actuary is 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 generally, the chairman said that the results 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 and 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.