INSURANCE.

Auckland Star, Volume 55, Issue 2, 3 January 1924, Page 6

INSURANCE.

NEW ZEALANDERS' COVER. GOOD SCOPE FOR THE COMPANIES. (By Telegraph.—Own Correspondent.) WELLINGTON, this day. The life insurance details secured in last census have been tabulated, and their general indication is that, although New Zealand has many flourishing insurance companies, their activities have scarcely covered one out of every five of the population. They have ample opportunities for extended business. Another remarkable feature of the figures is the neglect of women to take the precaution of life insurance, a factor not peculiar to the Dominion, but 'having as its cause the greater responsibility of the male as the breadwinner. ' The details disclosed by the census schedule are as follows:— Males. Females. Insured IG'-',760 54,665 Xot insured .... 460,453 541,003 These figures show that 17.82 per cenfc of the men, women and children of the Dominion are covered by life insurance policies. The sums range over a wide field, the most popular sum being between £200 and £250, over 32,000 policies being held within these amounts. There are over 1(5,000 policies for £300 to £GOO, and 5887 for £1000 to £1230. Taking the averages of the figures, males are insured for just over £300 each, and females for less than £100 each. A good deal more care seems to be taken to insure property in the Dominion, and this has become more apparent during the last three years, the Government Statistician pointing out that the amount of new and renewal business transacted by the fire insurance officee during 1921 and 1922, which exceed the huge sum of 300 millions, is ten per cent over the figures for 1920. and 33 per cent over the business shown in 1919. Some of the outstanding features of fire insurance business in the Dominion are set out as follows:— Gross icw and renewal business f325,417.0<>0 Number of policies 036,671 flross premiums charged £1.f>24.476 CJross losses. 1922 £739,07 i; Reserves appropriated from current income £r>36.22r> Taxation to Government £Ul.Si2 The New Zealand assets of the fire insurance offices amount to over five and a half millions, more than half of which is invested in Government securities, and over £500,000 with local bodies. The Government Statistician comments on the increasing amounts invested in Government securities, and the falling off to a considerable extent in the amount of insurance companies' funds loaned on mortgage during the last three years.