Page 5 Advertisements Column 6

New Zealand Herald, Volume 81, Issue 24868, 14 April 1944, Page 5

Allocation of Surplus "After making this provision there remained a divisible surplus of £1,967.905, which your Directors have applied as follows: £1,499,221 to provide bonus additions of £2,2/5,000 to members' policies; £318,684 to increase to £2,200,000 the 'investment fluctuation reserve' ; £150,000 as a grant for staff superannuation purposes. "The bonuses allotted are on a scale that all members, I feel sure, will agree are satisfactory, in view of the surrounding circumstances, and in this respect the course we have followed is in keeping w T ith that of other life assurance offices. "These, then, are the results of the triennial investigation, for which we decided two years ago to wait. We have gained by that decision. It has enabled us in determining our course of action to take into account all the changes, financial and otherwise, that occurred during that very critical period, as well as our own actual results. We are quite satisfied that in applying part of the surplus to bring our reserves into line with present financial conditions and in preparation for the post-war period we have jcted correctly and in the best interest of the members. You will, I am sure, agree that our Association, whose chief function is to provide security, should itself be secure. I trust that the result of the investigation and the allocations we have made meet with your satisfaction. The war is not yet over. When it will end > no one can say, but this much is certain; we enter the new triennium in a strong position financially to meet whatever may lie ahead. Increased Interim Bonuses "In the absence of some unusually adverse experience, and in view of the large additions which have been made to the reserves, it is anticipated that foi the year now current the Association will be in a position to allot bonuses at rates substantially in excess of the rates allotted in respect of each year of the triennium just ended. Tribute to Staff "I know that you would wish me to convey to our staffs, both indoor and in the field, an expression of our appreciation and thanks for their loyal and efficient service. We also remember with gratitude and thankfulness those members of the staff who are still absent on active service."—Ad^t.