A.M.P. SOCIETY.

Timaru Herald, Volume CXXIII, 12 April 1927, Page 11

A.M.P. SOCIETY.

GOOD FINANCIAL YEAR. The business being done by this Society is illustrated by figures givcu m the seventy-eight annual report to bo tabled at the annual meeting in Sydney New business (sums assured), 11)25 £17,1331,570; 1920, £17,705,147. Thu new business for 1920 constitutes a fresh record for the Society in each Department.

Business in force (sums assured) : Ordinary department 1925, £145,889,475, 1926, £154,032,999; increase for year 1925; £8,208,347, 1926, £8,142,624; industrial department 1925, £21,329,514, 1926, £23,5 1 2,168; increase for year 1925, £2,264,793, 1926, £2.242,654.

Death claims (including bonuses). — 1925, £1,726,872;' 1926, £1,697,302. In the ordinary department the death claims for 1926 were only just over 51 per cent, of flic amount expected and provided for under the mortality tables used in the Society’s ra Vitiations. Funds, 1925, £59,625,554 ; 1926, £63,641,172; increase for the rear 1925, £3,812,775; 1926 £4,015,618. Revenue for the vear, 1925 £8,876,760; 1926, £9,468,399. Valuation of Liabilities. —Tho Reserves made to meet the policy liabilities ilu the ordinary department aro based oil the assumption that only 3 per cent, interest will ho earned on tho Society’s funds, and are therefore exceedingly strong, being more than £3,600,000 in excess of iho amount required for a valuation on a 3£ per cent, basis, and over £6,500,000 more than would bo nccssary to provide for a 4 per cent, valuation. As tho Society earned last year £5 13s Id per cent, interest on its funds, the strength of the reserves will bo apparent. Bonuses. —The amount available for distribution as cash bonuses among the holders of participating policies in the ordinary department is £2,668,32.3, which, together with £25,101 paid in interim bonuses during tho year, in morn than the amount divided in the previous year. It is the lamest Burn ever distributed by ihji Society, as cash bonuses for a single year, amt represents 57.7 per cent, of the premiums received during the .year on participating policies, a- substantial increase over the rate for the previous year, which was 51.5 per cent. Tho cash bonuses will provide reversionary additions to policies of about £4,620,000 an increase of £470,000 over the corresponding amount for the previous year.