A.M.P. SOCIETY

Otago Daily Times, Issue 26175, 11 June 1946, Page 7

A.M.P. SOCIETY

EXPANSION OF BUSINESS The ninety-seventh annual meeting ot' the society was held in Sydney on June 7 and elsewhere in these columns appears a lull report of the chairman’s speech. During the war period tliCGSociety's membership collectively subscribed to Government loans a total of £64,000,000 and claims due to war service alone called for payments totalling £4,700,000 to the next of kin of deceased service personnel. Notwithstanding these early claims and a reduced Interest yield on the Invested funds, the stability of the society is such that it was able to build up during the v/ar years special reserves of nearly £7,000,000. The expansion of the society's business is little short of remarkable, and In 194 S record new business was written totalling £38,700,000 sum assured. The society continues to exhibit economy in the cost of management and claims the lowest expense rate of all offices in Australia and New Zealand. Ordinary department bonuses to be declared as at June 30, 1946. will show a welcome uplift, thus exhibiting the first fruits of the prudent management during the recent difficult years. Members of the society’s staff to the number of 1760 gave full-time service to tire war effort, and of these, 62 made the supreme sacrifice. Concerning the New Zealand branch particularly attention is drawn to tine recent appointments of Messrs C. U Plimmer and J. D. G. Duncan to the Branch Board.