A.M.P. Society.

Manawatu Standard, Volume XL, Issue 7841, 19 May 1904, Page 6

A.M.P. Society.

At tlie annual x meeting of tho above Society on the 6th inst., Mr A. de B. Brandon (New Zealand) delivered the following remarks :—' On behalf" of the New Zealand branch of our society, I have tho pleasure to add. one more to the series of good reports. Our business continues to be prosperous, and it will not be long, I hope, before the A.M.P. Society in New Zealand distances its formidable competitor, the Government - Life Insurance Department. Our position may well be looked at with pride, since the returns made at the end of the year 1002 show that there.were eleven life offices, including the Government Life_ Insurance Department, doing, business in the colony, and excluding industrial - insurance the total 'number of policies in existence and issued by the eleven officers was 99,905, assuring £24,697,807, witß an annual premium; income of £789,925. Of these policies 29* per cent, were issued by the A.M.P. Society. Of the total sum, assured by. the eleven officers, 32k per. cent., is written by the A:M.P. Society, and of tho total premium income payable" to the eleven offices 32-_- per cent, is payable to the A.M.P. Society, During the year just closed we in New Zealand issued 2466 policies,. assuring- ' ''36.375,' the., annual premiums amounting to £22,518 12s Gd. The addition of the < single premiums for the year, £5991 2s 2d, makes our revende : in respect' to new business for 1903 £25,509 14s Sd. The growth of the business, can only be gauged by comparison with former years, I and in this relation it'will be of interest to you to learn that during the last five-"years, that is, since our jubilee year, the annual income of the New •Zealand branch has increased by nearly £70.000, while duringthe time I have had tho Honour of being on the local Board the increase has amounted to £216,967 6s sd. ~ New Zealand generally is prosperous, and still affords an excellent field for. the safe investment of the society's funds.. Our loans on mortgage of freehold properties amounted at ' tho end of the year to S 4(\ 197 ' *""*'__ December 31st, IJ(M, there was no interest in arrear. ?Bearing in mind the large sum I have just quoted, this last fact speaks well both for the stability of tlw* society's investments and for the satisfactory condition of the affairs in the. colony. The establishment of an industrial branch will, I behove, be followed by success, for the very high number of policies in force in New Zealand indicates that the advantages of life insurance are appreciated by a very large majority of those who are able to take tho benefit of existing conditions, and to those who have hitherto been un* able to follow the example of their more prosperous neighbours the industrial insurance will amply justify the motto of out society, '• Amicus certus in re inccrta." (Hear, hear), •