T. AND G. MUTUAL LIFE SOCIETY

Wanganui Chronicle, Volume 71, Issue 291, 8 December 1928, Page 8

T. AND G. MUTUAL LIFE SOCIETY

ANNUAL MEETING WONDERFUL GROWTH MELBOURNE, Dec. 7. At the fifty-second annual meeting of the T. and G. Mutual Life Society, held to-day (Friday, December 7), the chairman, Mr J. T. Thompson, said that he felt sure that every policyholder would be pleased with the results. New business consisted of 148,630 policies, assuring £ll,-198,725, the largest volume ever written by the Society in one year. The total income had increased to £3,312,151, while the payments to policyholders exceeded £1,000,000. The addition to the assurance funds was £1.449,895 while the assets now amounted to £13,417, 203, of which £9,577,923 is invested in Government and municipal securities. The rate of interest on the mean funds had increased to £5 14s per cent. The actuary’s report showed urphis of £463,930, which would be distributed in the usual form of Reversionary bonus additions to the sums assured and also other benefits to policyholders. Speaking generally the chairman said that the results were right up to expectations, there had been a record new business and a record increase in funds and there was exhibited a statement of assets showing an absolutely safe and satisfactory financial position. In conclusion the chairman said that by efficient management, by the enthusiasm and loyalty of the staff and the considerate attention to the n cds of its policyholders, the .Society was bound to progress and enjoy the samepopularity as it does to-day.