2 MAY 1931, Page 34

Financial Notes

(Continued from page 720.)

against £30,105 • and Life business £38,894 against £24,646. It will be noted that the Fire profit was particularly good. The Report states that last year saw the completion of the quinquennium in the Life Department, when substantially larger profits were disclosed than for the previous quin- quennitun, and one-fifth of the shareholders' profit is trans- ferred to Profit and Loss. The surplus appertaining to policy holders gives a bonus at the good rate of 12 per cent. per annum compound, while £250,000 is used to create a special Bonus Equalization Fund. Moreover, the undivided balance of surplus is also substantially higher, which promises well for the future.