A SUCCESSFUL COMPANY.

Wairarapa Daily Times, Volume LXVI, Issue 11975, 12 May 1914, Page 6

A SUCCESSFUL COMPANY.

(Hxtraet from the Australasian Insurance and Banking Eecord, April 2?>, 1914. The Provident Life Assurance Company ha s been industriously extending its business for the last, ten years, and, judging from the accounts an<l valuation" report as at 31st December, 191.''), it has deservedly attained to an assured position in the life insurance world of New Zealand and Australia. Steady but not sensational progress is shown. The new business charges are written off every year. In order to show the progress of the company during the past year by comparing the figures with those for the two previous years, it, is necessary to combine the revenue accounts for 1913. The aggregate figures (summarised) for the last threo years are therefore stated as follows:—Total income for 1911, £42,005; for 1912, £46,G96; and for 1913, £51,----r>74. Wo now come to the valuation report, which was drawn up by the actuary of the company. "The ordinary branch ha s only been five years in existence, but owing to the favourable mortality experience, the low rate of expense at which the business has been procured, and the satisfactory interest yield, a strong valuation basis has been adopted. It is, indeed, a .strong one the tables used being the Om, with interest at 3 per cent. " Judging from the annual and valuation reports, the conclusion to be formed is that the Provident Life Assurance Company is conducting its business on sound and prudent lines. It is evidently destine<l to rank high in the life insurance world.