N.Z. INSURANCE COMPANY.

Auckland Star, Volume LXVII, Issue 183, 4 August 1936, Page 6

N.Z. INSURANCE COMPANY.

' In spite of continual reports of disturbances, or the threat of them, in various countries of the world, economically the world continues on the up grade, and the accounts of the New Zealand Insurance Company reflect the improvement. The company, now in its seventy-seventh year, carries- on business in more than a dozen countries throughout the u'orld, and the major part of its premium income is earned outside New Zealand. Last year, as the result of uniformly better results in all fields of operation, the premium income increased by '£46,000. Investment earnings, which fell sharply at the onset of the slump, have remained practically stationary at a lower level for three years, and as no material improvement is to be expected from this source at an early date, the steady increase of premium income is the more important and gratifying. The company now has the highest reserve in its history.

The reference made by the chairman, Sir James Gunson, to motor ear insurance is of considerable importance at this time. He said plainly that "in many instances accidents arise from recklessness and disregard of other people's lives and property," and that the financial burden . consequent upon the "irresponsibility" of a relatively small number of motorists falls ultimately upon them all. Thus to the arguments of humanity—which ought to be sufficient —there is added a pecuniary argument to support Mr. Semple's campaign against reckless driving.