A.M.P. SOCIETY.

Manawatu Times, Volume LXV, Issue 395, 24 April 1908, Page 7

A.M.P. SOCIETY.

LAST YEAR'S BUSINESS. Per Press Association. Wellington, Yesterday. The fifty-riiiitli annual report of tiie A.M.P. Society for presentation to the annual meeting on May Ist has been issued. The amount of new business transacted during the year again constitutes a record, being in excess of last year's total by, no less than £278,000. Policies to the number of 1797 were issued; asssuring for a sum of £4,863,553 and yielding annual premiums amounting to £162,183 17s (sd. The net gain in volume of business in force is as much a £2,568,000. In the industrial department 16,648 policies were issued assuring for £506,629, with annual premiums of £31,163 12s. Claims by -death mouuted to £763,991, including £231,253 for bonus additions, the experience in this respect being again exceedingly favourable. The usual searching investigation was made into the mortgage securities, and the sum of £5537 lias been written on the value of foreclosed properties, etc., the value of office premises being also reduced to the extent of £21,181. Reference is made to the suit brought by G. R. Campbell to restrain the Board from proceeding with the extension of the Society's operations to the United Kingdom, Mr Campbell having appealed to the Privy Council. The case was heard on *20th February, but at the date of the repoTt the judgment had not been delivered. From the report of the actuary, Mr Richard Teese, it appears that all participating policies issued prior to 1908 have been valued as heretofore at %% per cent. The amount of cash surplus available for division is £700,812, which will provide a reversionary bonus amounting to about £1,265,000. The rate of expense is again exceedingly moderate, being under 9 per cent on the total receipts of the year. The effective rate of interest realised on investments shows an increase over the previous year, and now stands at £4 9s lid per cent a figure admitted to be highly satisfactory. The report contained voluminous returns required by various local Act of Parliament, and embodies a large mass of valuable and interesting information.