STANDARD INSURANCE.

Auckland Star, Volume LXIX, Issue 208, 3 September 1938, Page 4

STANDARD INSURANCE.

AFTER 64 YEARS. SUCCESSFUL OPERATIONS. As already published in these columns, the Standard Insurance Company, of Duncdin. which operates throughout the Dominion and in Australia, announced highly successful results for the year ended June 30. The balance-sheet and report have now come to hand, from which it is possible to give fuller particulars, together with comparisons covering the last eight years. The following comparative table chows the trend of business since 1930: — Ex- Exrremiums. Losses, penses. Loss pense Rate. Rate. £ i £ p.o. p.e. ia» . 25.-J.027 151,<>79 8f,25S 64.54 29 77 10:; i . 200,074 134,001 77.158 67.00 38.56 1032 . 103.310 M.SW 60.386 50.11 42.49 1933 . 155.086 67,040 65.795 43.51 42.42 1934 HO, 1(15 55,102 KS..VH 37.01 45 94 10X5 . 152.933 61,416 68.847 40.16 45.0 C 1!>3« . 159.300 65,68s 71.007 41 23 44 58 1937 . 171,848 82.46S 71,878 45.00 41.82 1938 . 184,880 82/JSB 75,758 44.39 40.9S Sources of Income. The following table furnishes further details from the accounts:— Underwriting Surplus. Interest. Dividend. Rate. 1030 .. 17.095 20.731 25.000 121 1)«1 .. *10.171 26.871 25.U00 121 lt«2 .. 12.100 24.021 25,000 121 • • .7J-2.122 25.000 12i -- 2.1.430 22.243 25.000 12 i J;;:'.' • • '-i--* 47 25.000 i2j 23.013 25.000 121 JHi •" 3 '! r, 1 4 24.326 25,000 12i 1935 .. 18,0i2 25.3.81 25,000 121 ♦Loss. From these latter tables it is apparent that premium receipts reached their highest level since 1931. Losses were siniilar to those of the previous year, bringing the ratio to premiums down by 3.61 per cent. Expenses are higher, which is in accord with the general trend, but the ratio to premiums is lower than it has been since 1931. Tiie underwriting surplus shows a sharp increase and the inteiest and return from steadilv-growing reserves for the first time since 1931 exceeds the amount required for dividend. Balance-Sheet Figures. Following are movements iu the latest balance-sheet: — LIABILITIES. Compared with a year ago. I '' ,al 200.000 Same Reserve 205.000 -Ll3 000 I nexpired risks 113.300 -f*soO Securities reserve . . 26 420 i">«7 Taxation 15.000 sW fcundri»s .... 18 *>14 , in-i-I'npaid claims 37.650 850 I refit and less ncct. 34.85-. +2.'-f53 ASSETS. Mortgage loins 20.590 —G34 • ompanys offices .. 107.04" — government stovks . 517.100 -f 36790 Local body dcbciitures 500 S-j me Fixed deposits, etc. 33.094 Same Interest and rents .. 4.510 —431 Balances, head office + I ' sll and branches 26.080 —3.505 Total assets 742,710 + 40.516 The whole of the assets, with the exception of mortgage loans and companrV, totalling £635,6,0, can be treated r.r thoroughly liquid.