THE COLONIAL INSURANCE COMPANY.

Press, Volume XXXI, Issue 4287, 26 April 1879, Page 3

THE COLONIAL INSURANCE COMPANY.

[Press Special Wire.. W-X-XBT-Tox, April 25. Tho following is the report of the Colonial -aurance Company: — The directors have smb. pleasure in submitting to the sharekidflrs their first report and balance sheet. E» company was registered upon the 27th Ajsal, 1878, but their principal branches in 6_ colony were not fairly established until ; ths following months of June and July. Eeooe the first financial period represents g_ result of about nine months' business. -_tincome from premiums has been £32,988 12j 6d; interest upon investment, £1165 6s i li; transfer fees, <_c, £26 4s 9d. The losses far the time have been heavy, including [ £404 lE* 9d incurred, but not paid before

■ 31st Ksxch, 1879. They amount to £9036 6s Ui After deducting re-insurances, £589 3s; kwa, £9036 6a lid; commission and fs_sa_ trpenses, £S2S2 & lOd, the amount »«___ £11,072 13s 7<L From which it has teffl _sc&d to dedcct the whole of the pre--__arr expenses incurred in the formation of -a Company, £321-413s 9_, and books and I*i-oaery £U3B 5s 6d, which alill leaves a ta-ace to the credit of profit and loss ac-«*-t of £6719 14s 4d. With tbe view of BW-Sf a reserve fund, and to add to the *K__s_ee insurers have already reposed in fi_ Oaxopaay, the directors recommend that b__aoe be carried forward to psSt and loss new account. Branches hrs been established throughout New -aland and the Australian colonies, » also ia London, Calcutta, and Tas- *«-- The bminets of the Company is •te-Sy merea-tEg. Every care has been bk«n ai to the selection of ita representatives •aa te its being conducted on economical and principles.