NEW ZELAND INSURANCE COMPANY.

Press, Volume XLIX, Issue 8071, 14 January 1892, Page 6

NEW ZELAND INSURANCE COMPANY.

(PftSeS ASSOCIATIOJT TKLEGKAM.) January 13.

At theannual meeting of shareholders of the' Nβ V .Zealand Insurance Company today, the Chairman of Doctors, Mr Campbell, in moving, the adoption of the report .and balance sheet, said that the premium income showeda satisfactory increase upon that of last year. The losses for the year were..somewhat..larger than those of the previous twelve months, but against these the expenses were less, the net result of the year's working being a profit of 20 per cent, on the paid up capital of the Company. A depreciation of the investments, instead of being made a charge upon the year's profit, would bemet by the transfer of a certain sum from the reserve fund. With regard to the figures as they now stood under the head of investments returning normal interest, the Directors were satisfied that the Company had ample value. Gratifying returns continued to be received from the branches and agencies. The Chairman alluded with sorrow to the death of Mr G. P. Pierce, the General Manager, and said that his successor, Mr Warwick Watson, would bring to the Board authoritative knowledge . and experience, the value of which could hardly be over-estimated. The report and balance sheet were adopted. . Messrs J. Russell and Robert Rose were re-elected Directors, and Messrs Boardman and Waymouth were again appointed Auditors.

The meeting closed with the ustttl vote of thanks to the Directore, officers and agents of the Company.