T. & G. MUTUAL LIFE SOCIETY.

Waikato Times, Volume 116, Issue 19451, 15 December 1934, Page 8

T. & G. MUTUAL LIFE SOCIETY.

ANNUAL MEETING. ' RECORD FIGURES. MELBOURNE, December 14. The 59th annual meeting of the T. and G. Life Assurance Society was held to-day. ■ The managing director, Mr J. T. Thompson, presided. The chairman announced that the new business comprised 167,018 policies, assuring £12,816,814, an increase of £1,303,362 above the previous year’s figures. These completions constitute a record in the history, of the society. The Accident Department issued 12,241 policies, assuring £3,588,184, and 9936 policies in the Ordinary Department were endorsed with Accident Benefits. The total income amounted to £4,172,734 andthe payments to policy-holders £1,440,654. Of the total assets of £21,082,456 nearly 63 per cent, was invested in Government, municipal and other local body loans. Pursuing its conservative "policy, the society wrote £50,000 off office premises and transferred £50,000 to contingency funds. The special privileges under the lien revival system, the nursing service, and free periodic medical examination service had been continued, .and were much appreciated by policy-holders. , The Actuarial report, after using the most stringent valuation basis, disclosed a surplus of £720,071, providing Reversionary bonuses and other benefits on the same scale as last year.

The chairman said that the rapid response to the improvement in general conditions showed the solid foundation on which the society had grown. In conclusion, lie expressed the board’s appreciation of the loyal service of the field and indoor staffs.