A.M.P. SOCIETY.

Manawatu Standard, Volume L, Issue 112, 8 April 1930, Page 5

A.M.P. SOCIETY.

The 81st annual report on the operations of the above society for the year ended 31st December last is now in course of circulation amongst the large number of policy-holders throughout the Dominion, who will no doubt be pleased to find that tho report reveals the usual satisfactory state of affairs. New policies were written in the ordinary department for £15,107,915, which amount has only once been exceeded in the history of the society, viz., in 1928—a result which must be looked upon as wonderful —taking into consideration the depressed state of business in general in Australia. New business written in the Industrial department was £4,383,916, a record for that department. Interest received during the year came to £3,807,688 in the ordinary department and £494,370 in the industrial department, both amounts showing a large increase over the figures of the preceding year. . Payments made for death and matured claims (including bonuses) in the ordinary department amounted to over three and a-half millions, and in the industrial department over £550,000. The accumulated funds of both' departments hove been increased by over £4,500,000 and now stand at the huge figure of £76,779,055. The investment and contingency reserve fund has been increased by £200,000 and now stands at £800,000; the. book value of office premises and other assets have been further written down by a sum of £70,665 14s 9d. After providing these . ample _ reserves, the cash surplus available for division amongst participating policy-holders in the ordinary department is nearly three millions, which will provide reversionary bonus additions of over five millions, and in the industrial department £211,584, providing reversionary additions of £309,000. Tho society was called upon to pay very largely increased taxation in Australia last year, but economical management and judicious investment of the funds, reveal that the rate of interest realised on the mean funds was £5.14 4 per cent., as against £5.13 5 in 1928, and, what is more important, that the rate of oxpensqs (excluding taxation) showed a reduction as compared to the previous year, the ‘ respective figures being 11.70 per cent, and 12.13' per. cent for the ordinary department, and 27.30 per cent, and 27.74 per cent, for the industrial department. It of the society to hear- that the New Zealand branch 1 created “a record” in both will be especially gratifying to members departments jn new business thus helping in no small degree towards the magnificent results which ore disclosed ip the 31st an-