12 MAY 1939, Page 48

ALLIANCE ASSURANCE PROGRESS The experience of the leading life assurance

companies in 1938 was distinctly uneven, but Alliance Assurance is among the most fortunate. Mr. Lionel N. de Rothschild announced at Wednesday's meeting that the year's new life business con- stituted a record. The increase was due to a very large en- dowment assurance pension scheme. Mr. Rothschild was also able to report that, notwithstanding a more stringent basis of calculation, the quinquennial valuation had disclosed a sur- plus of £2,461,112, and the compound reversionary bonus is being maintained at the rate of 38s. per cent. The company's Stock Exchange securities even after last year's decline stand at a figure showing a comfortable surplus over book values.