NEW_ LIFE ASSURANCE BUSINESS.
The yea't 1927 was a good one in the matte of new life asatirance business and the gains in the volume of new businessf . are considerable. The -Directors of the Atlas Assurance Company show that their new business, after deducting reassurances, was approximately 12,900,00X being an increase of 150,000. The Directors have declared ail" interim' bonus, upon " with-profit " policies for the year 1928 at the rate of 12 2s. per cent. per annum, calculated on the sums assured! and existing bonuses (if any). The interim bonus at that, rate in respect of all premiums due and payable since December! 81st, 1925, will be payable in the case of claims whether arising by death or by maturity, and it cash value will be taken into account in calculated loan and surrender values.
* * * * • The London Life Association reports new policies for the
year for 12,206,567 as compared with 11,767,587 for the: previous year. Last year's business resulted in single premiums of /114,029 with tle,W, annual premiums of 177,706.
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- In the case of the National Mutual Life, the new business 'exceeded that of any previous year, and for the first time in the Society's history the gross amount exceeded 11,000,000: The actual gross surn assured was /1,028,676 with a net amount of /824,708. The annual reversionary linnus to be declared: for the year Will be at the increased rite of 45s. per cent.; compound. A special additional bonus of Os. per cent. (the! same as for 1926), making 51s. per cent, in all, will be allotted', `to whole-life with-profit policies.
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The Norwich Union Life also secured business for the year constituting a record, the sums assured being 19,297,098 , compared with 19,114,785. The directors state that having ; -regard to the earnings since the quinquennial declaration of 1925, they feel justified in increasing the rates of interim; bonus on all policies becoming claims in 1928. The increased interim bonuses in the case of whole-life policies will -range from 22 9s. per cent. to 14 los., depending upon the age attained. In the case of endowment assurances, the bonuses depend upon the age at maturity. Thus for policies maturing at the age of 55 the 1920 interim bonuses are 12 2s. per cent., while for policies maturing at the age of 70 they. are 12 12s. per cent.
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The Royal Exchange Assurance Company showed a gain of no less thpn 12'4,990 over the previous year the total -net new businesS being 12,219,386. This constituted a record as regarda the total new business completed by the Corporation in any one. year.
The Scottish Provident also had a good -year, the amount of net new-business being 12,460;587, or an-increase of 1170,000 over the previous year.
A. W. K.
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