T. & G. ASSURANCE SOCIETY

Southland Times, Issue 17963, 14 December 1918, Page 5

T. & G. ASSURANCE SOCIETY

1 > —■ ANNUAL MEETING, VERY SATISFACTORY RESULTS. (By Cable). MELBOURNE, December 13. The annual meeting of the Australasian Temperance and General Mutual Life Assurance Society, Limited, was held to-day. The chairman, Mr Henry Meeks, reported the continued expansion of the Society in all departments. New business written amounted .to 19,677 policies, assuring £4,246,349 —an increase of £744,918 over the previous year. This large volume of business, was procured at a satisfactory expense rate. The total yearly income has increased by £119,720, and now stands at £891,249. In the Industrial Department the premium increase was £790,000, making the total premium income £479,691. The increase in this department is again the largest ever made by any one society in Australasia for a single year. The assets amount to £3,180,377, and the chairman drew the attention of policy-holders to the satisfactory nature of thj Society’s investments. The rate of interest earned was £4 19s 9d per cent. Payments to policyholders amounted to £293,572. The death claims in the ordinary departments, amounting to £67,237, were almost equal to the total claims for the-dour pre-war years. The surplus was £85,534, of which £66,322 was distributed. The Society has decided to suspend payment of war-loading from the date of the signing of the armistice, and to refund all complete full quarter’s war-loading overpaid at that date, subject to the right of the Society to recharge warloading should hostilities be resumed. During the year, and since the closing of accounts, the Society has invested the sum of £82,000 in war loans.