PRUDENTIAL PROGRESS.
The latest Report of the Prudential Assurance Company makes no break in the unique record of progress. In fact, so far as the assets are concerned, the previous gigantic total of 2171,000,000 is advanced by a further amount of £12,599,036. The new business in the Ordinary Department for the year increased to £14,217,000, while the Industrial Policies issued exceeded £50,000,000, though the premium income in that branch was only a little higher at £15,210,000. There was, however, a substantial reduction in the ratio of expenses in the industrial branch, the ratio being only 27.86 per cent. of the premiums as compared with 401 per cent. for 1920. The annual valuation shows that the surplus previously realized in the ordinary branch has been maintained, and the bonus is again announced at £2 per cent. (simple). In the industrial branch the bonus has been further increased to 30s. per cent. ; vesting after fifteen years. After paying the bonuses to policyholders and adding £500,000 to the Investment Reserves, the amounts brought into Profit and Loss from the ordinary branch amount to £183,000 and from the industrial depart- ment £1,153,000. After transferring £450,000 to the Common Contingency Fund, and £86,000 to the Special Contingency Fund, a balance remains sufficient to give the " A " shares a dividend of no less than 80 per cent. as compared with 671 per cent. for the previous year free of tax. A. W. K.
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