Prog ress in the iet.ivities and Also in the profits of
that remarkable able undertaking, the Prudential Assurance Company, continues unabated. The latest report is a particularly good one, inasmuch as for the first time all participating industrial policies, except in the Irish Free State, are to receive a definite allocation of reversionary bonus, making a permanent addition to the, sums assured. The bonus is at the rate of Al 10s. per cent. on policies issued after January 1st, 1889, additional te Previous bonuses; while on earlier policies the bonuses vary from £35 to £70 per cent, inclusive of previous (Continued on page 458.)
Financial Notes
(Continued from page 456.)
bonuses. The surplus in the Industrial Branch was £6,701,000, inclusive of £317,953 brought forward, and of £350,000 from profits on investments and £600,000 from the Special Contin- gency Fund, the latter to enable the reversionary bonus scheme to be applied comprehensively. Out 9f the Industrial Branch Surplus 2,3,909,734 is applied to bonuses to policy- holders, £867,994 to profit and loss for dividends to share- holders, £651,622 to bonus to outdoor staff, £285,000 to Special Contingency Fund, and 1986,609 is carried forward as undivided surplus. The amount of new assurances issued during the year in the Industrial Branch reached a sum of no less than £60,335,586. In the Ordinary Branch the new business was £24,028,783, apart from business received under foreign reinsurance treaties. The surplus in this Branch, including £551,327 brought forward, was 13,327,259; the valuation was on the usual 3 per cent, net premium basis, with additional reserves for annuities. A. W. K.
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