NEW ZEALAND ACCIDENT INSURANCE COMPANY.
(FBOM A COBIIESPON'DENT.) . AUCKLAND, January 30.
The annual report of the New Zealand Accident Insurance Company, to be\pre : seated to the shareholders to-morrow, states that after making.full provision for all ascertained losses and liabilities; there remains to the credit of the profit and loss account a balance of £3911, out of which the directors propose to "declare the usual dividend; of'6d per share, in addition to a similar interim dividend for the.half-year to 3iine 30th ,lail. The net premium income for the year was £42,072, the compensation claims-totalled £25,766 (an increase of £6000 oa the amount paid last year), and the investments have grown to no less' then £100409, producing an annual revenue of over £3600. The sum of £5000, which formerly stood to the credit of the Contingent Liability Fund, has been transferred to the reserve, which now- stands at £28,000, and, after providing fo? all the liabilities and for a new issue of shares, £3911 is carried to the credit of the profit and loss account. The total assets are over £107,500. The directors have not; exceeded the usual dividend, but to give shareholders the benefit of the accumulated funds they have decided to issue to shareholders 30,000 of the 80,000 unallotted shares, which will entitle each to one share and 9 half, paid up to 10s, for each share held on January 23rd. These shares will rank equal with the existing shares, carrying a dividend from June 30th last". Altogether, the year has bees one of marvellous prosperity.
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Bibliographic details
Press, Volume LIX, Issue 11189, 1 February 1902, Page 5
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256NEW ZEALAND ACCIDENT INSURANCE COMPANY. Press, Volume LIX, Issue 11189, 1 February 1902, Page 5
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