Towns > Glasgow > 1828-1912 - Post-Office annual Glasgow directory > 1847-1848

129
Advertisemmis-
James Moncriefp Melville, Esquire, in the Chair.
A Report by the Directors on the~progress of the Company's business during the
year was submitted, in which the following results were communicated: — ■
The New Policies issued from 15th November, 1845, to 15th November, 1846,
the Company's business year, amount to 592> '^^^ number of Proposals made to
the Company during the same period being 769.
The Amount op New Assurances covered by the 592 New Policies, is
£368,679, 7s. lOd. (a" average of £625 for each Policy), the amount
of Assurances applied for during the year being £476,135, 17s. 9d.
The Revenue of the Company is upwards of £ 1 20,000 poi" annum.
The Claims have been moderate both in number and amount, and considerably
less then shewn by the Mortality Tables on which the Company's calculations are
founded. The results in other branches of the business have been favourable.
The Business of the Commercial Life Assurance Company op Scotland has been
transferred to the Standard Company during the past year, being 398 Policies,
covering about £200 OOO of Assurance; and being in addition to the new
business of the year above reported.
The Business of the York and London Assurance Company, which was transferred
to the Standard Company in 1844, continues to exhibit satisfactory results in its
progressive development.
The Report and Statements were unanimously approved of; and the Chairman,
after dravring attention to the important position which the Company now occupies
as one of the first Life Assurance Institutions in the country, concluded by con-
gratulating aU parties on the satisfactory results exhibited. He also took the op-
portunity of drawing attention to the important benefits afforded to Assurers under
the Company's Profit or Participation Scheme, and to the advantages of joining 14
before tha
FOURXn DIVISION OF PROFITS at 15th November 1850.
THE ADDITIONS TO POLICIES,
Which have already been declared, are exhibited in the following Table, the
examples being Policies of £1000.
By observing carefully the scale of additions, it will be perceived that the greatest
comparative advantage is derived by those Assurers whose Polices are upheld with
the Company for the longest period — a result which is produced by the particular
principle of division which has been adopted, the measure of an Assurer's claim at
ecxch period being the number of years the Policy has existed.
Forms of Proposals and all necessary information can be obtained at the Office of
the Company By Order of the Directors.
WILL. THOS. THOMSON, Manager.
WM. HUNTER, Resident Secretary in Glasgow.