24 MARCH 1928, Page 42

INSURANCE PROGRESS.

It is always pleasant for a Chairman of a company to be able to report conditions of record prosperity. Such was the position of the President of the Norwich Union Life Insurance Society at the meeting held this week. The new annual premiums for the year established a record at £888,000, while the total income of the Society is now just under £5,000,000. Moreover, the company has succeeded in reducing the level expense ratio from 18.28 to 15.80, and the President stated that, as showing the cost at which new business was obtained, the ratio, working on the usual approximation, is 65.70 per cent. of new premiums and 6-57 per cent. for the cost of the old business. a a a a