The Sun.
London, England, 1866-04-13 00:00:00

Briton Medical and General Life Association.

..e. _-

The 12th annual meeting of this society was held
yesterday afternoon at the offices of the society, 429,
Strand. Dr. George H. Barlow, chairman of the
board of directors, presided.

The minutes of the last general meeting having
been read and confirmed,

The directors' annual report was read by the ac-
tuary and secretary (John Messent, Esq.) as
follows :
The directors of the Briton Medical and General Life
Association have the pleasure to present to the shareholders
and members a report of the trausactions of the association
for the year ending December 31, 1865.
3,515 proposals have been received for £1,047,532, and
2,769 policies issued, assuring the sum of £829,926, and
yielding in annual premiums the sum of £25,200 17s. 11d.
The remaining proposals have been thus disposed of :-
272, for £73,090, have been declined; and 474, for
£144,515, were in various stages of progress at the con-
clusion of the year.
The directors cannot better exhibit the steady, yet
rapid, progress of the association than by the following
table, showing the new business of the association since its
commencement, divided into triennial periods :

Triennial No. of Amount No.
Amount New
Periods Pro- of Annual
inclusive. ' posed. Policies
Proposals. Assured. Premiums.
1.454 to 1858 1,290 302,875 914 172,125 6,090 19 8
1857 to 1859 5,582 1,150,531 4,1 5 798,255 25,001 13 1
186? to 1812 7,727 1,80!,974 5,667 1,155,690 35,381 1 3
1863 to 18C5 9,912 2,612,815 705. 2,019,264 e 3,634 14 2
The income from all sources has increased to £171994
4s. 10d.

The claims for the year have been 203, and amounted
(less £761 2s. 3d. re-assured) to £65,496 13s. id. This
amount includes 59 claims for £17,721 17s. 91, which had
not matured at the end of the year.
After deducting these claims, as well as all other outgo-
ings, the balance of the year's Income over Expenditure is
£70,631 4s. 4d.

The Assets now amount to £490,389 10s. 7d., or nearly
half a million of money.
The Accounts have been duly examined by the appointed
officials, who have reported to the Directors as follows :
To the Board of Directors of the Briton Medical and

General Life Association.

Gentlemen,—We have the pleasure to report for your in-
formation that we have continued the system of quarterly
investigation into the affairs of the Association, and that
we have found the various books and accounts in a correct
and satisfactory condition.
Tho whole of the securities have been carefully ex-
amined, and aro in perfect order.

We are, gentlemen, your very obedient servants,
HENRY ALCOCK,
WILLIAM BROOKS,
JOHN BROWN, Auditors.
C. H. ROWLAND,
London, March 26, 1866.
During the year the directors have concluded negotia-
tions with the Britannia Life Assurance Company and
Britannia Mutual Life Association, for a union of those
societies with this association. The respectability, wealth,
and influence of the Britannia Companies are too well
known to need comment, and from these valuable
elements, and the comparatively reduced cost at which the
united businesses can be conducted, the directors feel jus-
tified in congratulating the shareholders and members on
an arrangement which must tend to the advantage of all

parties.
Consequent upon this transaction, the directors have
elected Mr. John Drewett (formerly of the firm of Drowett,
Fowler, Dimsdale, and Barnard), and Mr. George Baying-
ton (formerly of the firm of Bovington and Sons),
as trustees, and Mr. Millis Coventry (of the firm of
Coventry, Sheppard, and Company), as a director of the
association. These gentlemen were formerly members of
the board of the Britannia Companies, and the directors
believe the continuance of their connexion with the united
association will contribute much to the consolidation of
this important amalgamation. Tile directors recommend
that Mr. Coventry's election be confirmed.
In accordance with the provisions of the deed of settle-
ment, four of the directors of the association—Mr. W.
Ancell, Dr. Barlow, Mr. George Chapman, and Mr. E. J.
Oliver, retire by rotation, and being eligible, offer them-
selves for re-election.
The auditors also retire, and offer themselves again for
re-instatement in office.
The directors recommend that a dividend at the rate of
£8 per cent. per annum, free of income -tax, on the paid-up
capital be declared.
Feeling convinced that the progress of life assurance is
materially enhanced by policies being relieved from all un-
necessary restrictions, and rendered as simple in their con-
struction as possible, the directors have recently made
some fresh rules by which many important privileges, es-
pecially in regard to foreign travel and residence, are con-
ceded to policyholders. These improvements, which will
be found detailed in a revised edition of the prospectus re-
cently issued, the directors believe will be fully appreciated
by the members and by all about to effect assurances.
The directors have sincere pleasure in generally acknow-
ledging the continued and increasing support of the medical
profession.
The directors desire to offer the shareholders and mem-
bers their congratulations on the uninterrupted progress
and prosperity which attend the operations of this associa-
tion. It will be seen that not only have the new pre-
miums of last year exceeded those of the previous year,
but the excess is greater than has ever been reported on
any similar occasion in the history of this association. To
maintain this rate of progress will be the careful study of
the directors. From the high position the association has
attained, the large and influential representative staff now
attached to it, whereby its ramifications are extended
throughout this country and many other parts of the world
where life assurance operations can be prudently conducted,
and from the popular and liberal principles upon which it
is founded, the directors are encouraged to look with per-
feet confidence to the future ; but their labours would be
much lightened, and the results greatly increased in value,
if they could induce more hearty co-operation from the
shareholders and members. Tho directors appeal for this
and would urge upon all connected with the association,
no matter in whatever capacity, to advance their own in-
terests and those of society in general, by bearing in mind
the objects of the association, and their applicability to tho
requirements of all sections of the provident public.—By
order of the Board,
GZORGE 11. Ruttow, Chairman.
FRANCIS WEBB, Deputy-Chairman.
JOHN 31zssExT, Actuary and Secretary.
London,l2tk April, 186 G.
FINANCIAL STATEMENT
FOR THE YEAR ENDING DECEMBER 31, 1865.

3,515 Proposals have been received, for i1,047,532 0 0
2,769 Policies have been issued, for 829,926 0 0
The new annual premiums were 25,200 17 11
The net renewal premiums were 133,318 17 3
The receipts from interest and other
sources were 13,474 9 8
The totalrevenue for the year amounted to 171,991 410
The claims for the year were 203, amount-
ing to 65,49G 13 1

After payment of claims, surrenders, an-
nuities, endowments, re-assurance, divi-
dend, expenses of management (£12,353
ss, Od.), the balance of receipts over out-
goings was

Tho Assets now amount to nearly half a million of
money, and consist of—
Purchase of £33,592 811 Consols 31,260 12 6
£3,500 New 3p. Cents 3,246 5 0
77
£B,OOO East Indian
Railway Debentures 8,539 16 6
£3,500 Capo of Good
7,
Hope 6p. Cent Debentures 3,905 0 0
i• £5,003 New S. Wales
5 per Cont. Debentures 5,035 0 0
£4,500 Mauritius 6 p.
Cent. Debentures
£l,OOO Victoria Govt.
" 6 per Cent. Debentures 1,117 10 0
If
£2,000 Reduced 3 per

Cents.
17 44,100 Canadianfi per
Cents. 3,566 4 6
.£5,900 Canadian 5 per
2,
Cents. 5,919 0 0
Mortgages 115,959 12 11
Loans, Bonds, and other Assets 164,780 16 9
Half Premiums on Loan 30,474 8 3
Agents' Balances 21,922 5 7
Lease of House and Furniture
Princes Street Property 46,500 0 0
Gracechurch Street Property 6,667 0 0
Interim Half-year's Dividend
Premiums due
Cash—
At Bankers 4,710 19 10
On Deposit 15,000 0 0
In Office.,. 371 111

£20,086 1 9

Total .................................... ..£420,389 10 7
London, April 12, 1866.
The CHAIRMAN, in moving the adoption of the
report, said he should detain them but a very short
time, as the report, which had just been read, spoke
for itself—(hear, hear)—for it showed that their
income was gradually increasing, and that their
assets were going up with it. The management
of the funds, and the success of their business for
the past year, had been most satisfactory, as during
that period the annual income had risen to £171,994
4s. 10d. (Hear, hear.) After the whole outgoings
of every description had been paid they
had been able to lay by upwards of £70,000.
(Hear, hear.) He felt all present would
agree with him that that had not been a
bad year's work, as they had,, in fact, saved 42 per
coati which had Jeep carried to capital. Th.