3 MARCH 1939, Page 54


The Scottish Life Assurance Company is taking steps to raise the premiums on some of its non-profit policies to slightly higher levels. In announcing this decision at the meeting last Friday, Sir John Lorne Macleod, chairman of the board. explained that the alterations affected only new entrants, and that they were needed because it was felt that some of the company's rates were out of line with present conditions. The Scottish Life is one of those companies which have made steady progress through the past year's difficulties. The Duke of Atholl, the president, announced that a record number of policies had been issued and that for the fourth successive year net new sums assured exceeded £2,000,000. This obviotr:v involves the company in the investment of considerable addi- tional sums, and the Duke disclosed that 'nearly as moil additional money had been invested in loans and mortgag:s as in Stock Exchange securities. As for the Stock Exchange securities, it was explained by Sir John Macleod that they st.!! showed an appreciation over book-values, notwithstanding tl,,