A WONDERFUL ACHIEVEMENT IN LIFE ASSURANCE

Otago Witness, Issue 3899, 4 December 1928, Page 22

A WONDERFUL ACHIEVEMENT IN LIFE ASSURANCE

The seventh annual report and balance sheet presented at the annual meeting of the Southern Cross Assurance Company. Ltd., held in Melbourne last month, revealed big increases in new business and premium income, new and renewal. Notwithstanding the fact that many businesses had been seriously affected by the great financial depression'experienced in Australia and New Zealand, the Southern Cross Assurance Company. Ltd., has not only shown increases on previou years, but has extended its activities. During the year the expenses of management showed a slight reduction. From its inception eight years ago the progress of the Southern Cross Assurance Company, Ltd., has been simply meteoric. In its first year a record was constituted in that the million mark was exceeded by some thousands, a feat not hitherto accomplished by a life assurance company. The next best was seven years, whilst some companies took 20 to 40 years to reach the million mark. In view of this the following figures should be of interest: — ORDINARY DEPARTMENT. New > Business. Renewals. Funds. First year . £1,105,350 £ 12,247 Nil. Fourth year . 1,516,768 67,013 £ 20,515. Seventh year 1,766,057 110,106 239,783 Laudatory references to the stability of the Southern Cross Assurance Company, Ltd., appearing from time to time in leading national and financial journals, have indicated the opinion of financial critics throughout Australasia. This has induced prominent men in all States of the Commonwealth and New Zealand to seek Life Assurance Cover in this progressive company, whose policies, so modern in appeal and wide in their scope, offer something different to the discerning investor in life assurance. The Southern Cross Assurance Companj’, Ltd., besides having branches and agencies throughout Australasia, is now fully established in the Union of South Africa.

In New Zealand this organisation is presided over by a directorate of leading business and financial men, of whom the chairman is Sir Joseph Ward, P.C., Bart., K.C.M.G.—4/12/28.