10 MARCH 1928, Page 53



Most of the insurance companies have been. in the happy

position this i

is year of presenting exeeptionally good reports, and the Refuge Assurance is certainly no exception. At the annual meeting held on Monday, the chairman was able to show a record growth in the assets for the year of no less than £3,300,000, these "assets now standing at £39,276,000 in the industrial branch. After reserving an average of 87/ per cent.'of grbas- premiums for expenses, there was a surplus of £72,590; from which shareholders would take only 112,520 in payment of their dividend of 7/ per cent. A feature in this branch was the great reduction in the premium arrears left over from 1926, which was affected by the general indus- trial depression. In the ordinary branch the new business amounted to £5,800,000 and- the -valuation shOwed a surplus of 1958,263, including £693,000 brought forward from the previous valuation. Participating _policy holders received an increase of 2! per cent. in this brunch,' and in the rate of bonus addition which is raised to 44S.