T. AND G.

Thames Star, Volume LXVI, Issue 20187, 11 December 1937, Page 2

T. AND G.

m MUTUAL LIFE SOCIETY. 61ST. ANNUAL MEETING. EECOIJD NEW BUSINESS. (Special to Star). MELBOURNE, Dec. 10. The sixty-lirst annual meeting of the T. and G. Life Assurance Society was held to-day. The chairman, Mr. J. T. Thompson, announced that the new business in the Ordinary and Industrial Departments comprised 154,(5(58 policies, assuring £ 18,929,046. The whole of this new business was secured in Australia and New Zealand and greatly exceeded the new business comp'ctious for the previous year. The Accident Department issued 24,558 -policies, assuring £6,952,071, and in addition 8800 policies in the Ordinary Department were endorsed with accident benefits.

The total income amounted to £5,424,878. The policy-holders' funds increased by £2,240,621, a record in-

crease in one year, and now amount to £2(5,867,074. Payments to policyholders amounted to no less than £1.950,-

350. The rate of interest earned on the mean funds increased to £4/11/0 per cent. Of the total assets, 62.2 per cent, had been invested in Government, municipal and other public body ties.The actuarial report disclosed a surplus of £848,069 which, after reserving £50,000 for actuarial contingencies and certain other benefits, is to be distributed in the usual way as reversionary bonus additions to the sums assured. i After referring to several other interesting features of the report, the chairman said that the Board was gratified that its efforts on behalf of tho policyholders had been rewarded in the, shape of a new business record for tho vear, and, in conclusion, expressed the Hoard's thanks to the field and indoor staffs for their loyalty and valued services, i