CITIZENS' LIFE ASSURANCE.
ANNUAL MEETING.
SYDNEY, February 27,
The annual meeting of the Citizens' Life Assurance Company was held to-day. The report, which was adopted, showed that new assurr anoes f0r\£1,036,500 were completed in the ordinary branch of the business, and that the funds at the 31st December amounted to £1,538,371 the gross increase for the year being £219,265. Further, great savings had been effected in the working expenses, the industrial branch alone showing a reduction of nearly 12 per ceut for the last. two years. The ordinary branch expense ,rate ia 13 per cent, and tne combined expense rate (ordinary and industrial) 24 per cent, of the total income. The valuation report shows that the reversionary bonus to policy-holders for the year will be higher than previously, ranging from £3 to £1 5s per cent,, of th° sum assured, according to fable and age of policy. The total surplus was £50,645. The retiring direotors were re-elected.
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Bibliographic details
Wairarapa Age, Volume XXVIII, Issue 7975, 28 February 1906, Page 5
Word Count
157CITIZENS' LIFE ASSURANCE. Wairarapa Age, Volume XXVIII, Issue 7975, 28 February 1906, Page 5
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