T. & G. MUTUAL LIFE SOCIETY.

Wairarapa Age, 17 December 1932, Page 5

T. & G. MUTUAL LIFE SOCIETY.

ANNUAL MEETING. REMARKABLE FIGURES. MELBOURNE, December 16. The 56th annual meeting of the T. & G. Life Assurance Society was held today. The managing director, Mr. J. T. Thompson, presided. The chairman announced that the new business comprised 149,943 policies, assuring £10,619,107, an increase of 13,117 policies compared with the previous year. In addition, an increased number of accident policies, totalling 2882, and assuring £1,386,750, were issued, while 4328 policies in the Ordinary Department ‘ were endorsed with accident benefits. The total income was £3,785,091, while payments to policy-holders amounted to £1,685,401. The mortality experience was exceedingly favourable and well within actuarial expectations. Out of the total assets of £17,921,147, no less than £11,278,000 was invested in Government, municipal and other local body securities, the safest form of investment. As a precautionary move, £lOO,OOO was written off office premises and £lOO,OOO transferred to contingency funds. The Actuarial report, after the adoption of the most stringent valuation, disclosed a record surplus of £680,140. After setting aside £50,000 for actuarial contingencies and providing for reversionary bonuses and other benefits, £68,588 was carried forward. The meeting closed with an expression of appreciation of the loyal and efficient services of the whole‘staff.