2 MARCH 1929, Page 52


• The quinquennial valuation was made on the basis of interest at 21 per cent. net as against 3 per cent. net previously - assumed, and the reduction to 2 per cent. has resulted in strengthening the reserves for the liabilities and the main- tenance of future bonuses. The valuation shows a surplus of £3,034,247. The directors have declared a compound vested bonus for the quinquennium 1924-8 at the rate of £2 2s. per cent. on the original sums assured and existing bonus additions on all participating policies.