The G2nd annual report of the board of directors of the Confederation Life Association shows that the company isin an exceedingly Strong' position and will increase public. "confidence both inthe Association and in the institution of life insurance in Canada During. 1998 the association paid $13,376,896 to policy-holders "and Denefciaries, an increase of $858,078 over 1992's' figures. Dividends to Polieyholders im 1983 amounted to $2,097,653, the "surplus earned. $3,375,409, and the total surplus as on December 31, was $7,504,280.
The total income for the year was $20,618,144 and total. assets were $94,205,166, "an increase of S1972861, "The "company has valued its assets on avery con: Servative basis and these assets are invested in high grade securities as follows: bonds and. debentures, 82 mortgages, 18 per cent; "per cent; polley loans, 20 cent; stocks, 3 per cent; cash sundries, 6 per cent.
New assurances to the amount of $38,868,240 were issued and revived in 1989' and the total assurances in force at the end of the year amount. ed to #801 044,688.
In. presenting. the report, Mr. S. "Macdonald," president, stressed the need for a world-wide downward revision of tariffs. He dwel the improvement in the cond Canadian trade during' the past yenr, touching upon the strengthen fed. position of Canada's newsprint any pulp and paper industries, her val ing. production, agricultural situation, the increased
estimated at $192,000;000 for 1953, the marked improvement in het foreign trade.
Text read from the printed page and cleaned; old type leaves the occasional error.