REMARKABLE PROGRESS.
At the recent Annual Meeting in Montreal of the Sae Life of Canada, the President, Mr. T. B. Macaulay, gave a great many interesting figures indicating the progress of the Society during the year, both in activity and in strength. As regards the former, however, perhaps nothing was ranee impressive than Mr. Macaulay's statement to the effect that while the new business written during the year by the combined Life companies of North America showed an increase over the preceding year of approximately 8 per cent. and the increase in the combined total in force approximately 9 per cent the new assurances of the Sun Life of Canada had increased 34 per cent., while the total in force increased 27 per cent. Another point, and one emphasizing the strength of the company's resources, was concerned with the valuation of the securities. The President estimated that the latest balance sheet showed that the values of securities had been placed at something like £13,000,000 less than the actual current valuation of the securities on the Exchanges. Then the Report itself refers to an additional deduction'of market values of over £4,000,000, while there is a Contingency Reserve of £2,500,000. Those items total £19,500,000 and unlisted asses and other margins raised the amount to over £20,000,000. " This means," said Mr. Macaulay, " that the market values of our securities could shrink by over £20,000,000 without reducing our surplus by one pound." The President was also able to refer to a further increase in the policy-holders' profits.
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