NATIONAL MUTUAL LIFE ASSOCIATION
A SPLENDID YEAR. MELBOURNE, December 18. At the annual meeting of the National Mutual Life Association the chairman, in moving the adoption of the report, said the new business was the largest ever transacted. Thirteen thousand four hundred and eighty-six new policies had been issued, insuring £3,442,833, and yielding new annual premiums of £124,826. Tho total income for the year was £1,198,148, and the insurance funds amounted to £6,702,000. Attention was drawn to the large proportion of the funds invested in freehold - mortgages, experience showing that these were a more suitable investment than Government or municipal debentures, as they were not liable to fluctuation. The association's securities were situated in the best and safest localities in Australia and New Zealand.
The report was adopted, and the retiring directors were re-elected.
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Otago Witness, Issue 3014, 20 December 1911, Page 27
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134NATIONAL MUTUAL LIFE ASSOCIATION Otago Witness, Issue 3014, 20 December 1911, Page 27
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