CON, PANY MEET ING
THE ROYAL LONDON MUTUAL INSURANCE SOCIETY LIMITED ASSETS EXCEED £50,000,000
Tim eighty-first annual general meeting of the Royal London Mutual Insurance Society, Limited, was held on Tuesday last at Winchester House, London, E.G. Mr. J. K. Wiseman, joint managing director, who presided, said: The combined premiums income of all blanches for the year amounted to £7,750,233, the increase in the life branches oven the previ ius year being £376,524. The total income for the year amounted to £9,644,210, an increase of £351,407. The total claims paid, including annuities and surrenders, amounted to £3,716,312. War claims amounted to £268,077. The total of claims paid by the society since its foundation amounts to £61,543,000. The total assets amounted to £51,905,720. an increase of £3,226,826 during the year. For the first time the assets exceed 1;50,000,00o, which is a milestone in the history of the aociety A valuation of „investments at the end of the year discloses a very satisfactory position. The market value of Stock Exchange securities exceeds the book value, as set forth in the balance-sheet, the investment reserve and contingency funds remaining intact. The premium income in the ordinary life branch for the year (in- cluding consideration for annuities granted) amounted to £2,028,171, an increase of £129,872 over the previous year. The new sums assured amounted to £3,358,950, an increase of £764,431. The amount paid in respect of claims by death or maturity, annuities and surrenders amounted to £1,080,962, a decrease of £253,637.
In the industrial life branch the premium income for the year amounted to £5,689,250, an increase of £246,651 over the previous year. Claims and surrenders amounted io £2,608,610, a decrease of LI 93,642.
The balance-sheet shows that the assets total £51,905,720, an increase of £3,226,826 over the previous year. Stock Exchange securities repre- sent 76.3 per cent. of the total, the remainder consisting mainly of mort- gages, loans on public rates, freehold and leasehold properties, and ground rents. Of the Stock Exchange securities 98.3 per cent. are made up of invest- ments within the British Empire The proposition to adopt tht report and accounts was seconded by Mr. J. H. Skinner (joint managing director) and unanimously carried.
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