STANDARD INSURANCE

Auckland Star, Volume LXXIV, Issue 197, 20 August 1943, Page 5

STANDARD INSURANCE

The full accounts of the Standard Insurance Company, Ltd., Dunedin, now available, show that premium income was £212,59-1, compared with £209,444 last year. Interest on investments (less taxation of £12,141) was £20,942. against £20,171 after taxes absorbing £11,205 last year. Losses were £75,292, compared with £84,969, and Government licenses and taxes took £55,083, against £30,584. Reserve for unexpired risks stands at £140,000, a rise of £3000. The latest balance-sheet, with last year's, is as follows:—

.' . Liabilities 1943 1942 &■ £ Paid capital 200,000 200,000 Reserve Fund 355,CCO 343.000 Unexpired risks res 140,000 137.000 Sec. dep. reserve 46,941 46.905 Taxation provision .... 75,000 55.000 Unpaid claims 48,250 45,890 Profit and loss 38,309 37,301 Assets . Loans on mortgage .... 19,750 20,470 Premises 85.500 86,050 Government securities ... 733.835 664,405 Municipal debs. ....... 8,499 8.80S Dep. stocks and chares .. 50,769 50,760 Fixed deposits, etc 4,550 3,400 Accrued int., rents 6.076 5,603 Cash and balances .... 39.769 66.675 The accounts balance at £948,749, a rise of £40,361.