MUTUAL LIFE ASSOCIATION OF AUSTRALASIA.

Otago Daily Times, Issue 11715, 24 April 1900, Page 4

MUTUAL LIFE ASSOCIATION OF AUSTRALASIA.

AYe have before us a copy of the. annual report and balance sheet of the Mutual Life Association of Australasia, togother with a copy of the proceedings at the annual meeting held in Sydney on the 2nd April. Tlie Chan-man, in his remarks, states: " The report is eminently satisfactory in evc:y feature. The new premiums for 18SID are the largest in the association's history, the average sum assured being larger, and the corresponding annual ipremimn much higher, showing-thc appreciation of the new tables introduced a few years ago.' The void business dropped ;ESO,OUO in one year. Tlio interest revenue is really tho main mattei- now for constant attention on the part of tho board, and the judicious and energetic management is bound to produce the desired results. The outstanding interest was only £453 at tho 31st December, nearly all or which hns since been collected. Owing to the vigilant care, exercised in selecting lives, tho death claims greatly decreased. The expense rate has tlvoviped lh per cent. Tho total funds were mci-easEd by the largest inoromoni over secured—namely, .13101,759, and at 31st December stood at-£1,359,8G2, no small amount for an office of our age, started on the nSsohitely rimtual principle, and therefore without paid up capital to commence with.",

The Mutual Life Association havo reduced their valuations lo a 3f, per cent, basis, which its officials maintain is a peifeet security for the fulfilment of every contract, even should money fall lower in value, while if it keeps at the present rate there will be an ample margin for divisible surplus, which- will, of course,"be increased proportionately if money should again advance in value. Members have no doubt reason to be, satisfied on the position attained by the association during the past live years, iv which Otago has no doubt in no little degree assisted.