NATIONAL INSURANCE CO.

Auckland Star, Volume XLIV, Issue 277, 20 November 1913, Page 9

NATIONAL INSURANCE CO.

Till: ANNI AL MEETING. (By Telegraph.—Press Association. DINEDIN. Wednesday. The annual uietuu o ' w mc sutuenoidiirs in. Uie .\auou_u luaui'aure Loiui>aiiy wis iiCIU tuis &*lutuUOU. ->ir. r. v.. lieuipLhorue, chairman or (iiicv-tur>, sajd tuu wouju lia\u Uit; <-|.u.i..ii a., uc uirei-turs tua.l lucy Lua iiuuiUL-t luriuuale iaix. ihe uui loeuiit euiiou.ned to i-li-, 11/0. lue iom<u wtie ueuvier, ueiug £Uti,o-j.j o, b f as agiiiuaL ioJ.uai o/d in utis, uu u»i.roa=e vi i.,,_u.; v.. . Tue prumiuoiM tor the iear were U. 51,454 4.0, as a b -ajust lv lltjj £141,307 13/5, suoiviug au increase of t10,14.5 ill/111. Tlie loss ratio 4o.i»i per tent aj-u cnaj'ges Oo.U pur cent, in eaci case a. slKitie l'/wer tuau last year, iiic vii t'.-luirru t j uuiouiiiea f> Tile reserve luiid buU lucruaseii by £25,uiju, Uia-iiiug iv tOUII £^i.j,ui»>. Extra*u\Uuitr> iaxe was taken in respect to vaiuailuLut, but they were able to say thai UlO securities tuei held against advances uiaue the po»iuou absolutely saJe. The iijal U.SSU.S uuiuuntetl u> t«>iio,:j4s ib U. Comniis.>iou.-. salaries and other f-ipenses had increased by £l.>>:.u ii. 0. Interest and tl.lUo over the previous year, and gave a rate of t4 la. 11 pcx ceut- In this, they would renignise that borrowers trorn tue company got their advices at the lowest market rates. Thanks were due to the general manager, branch managers, and Staffs under their guidance tor the excellent result of last year's work, and iv recognition of their appreciation, the board had voted a bonus of live per cent to all the members of the- staff below the rank of braivb managers ou the salaries they were receiving. Mr. 11. liloudining and Mr. T. W. licnipthornc «ere re-elected directs.