COMPANY NEWS
N.Z. INSURANCE (New Zealand PreM Association) AUCKLAND, Aiigust 3. A record premium income, reserves and total assets are shown by the New Zealand Insurance Company, Ltd., for the year ended May 31. Assets rose by £1,338,581 to £10,927,463. Premium Income rose by £1,055,341 to £5.337,587, AH departments show a Corresponding expansion. The reserve for dnexpirea risks is up £546.000 to £3,2«,M0, dndthe Investment fluctuation, exchange and contingencies reserve is £59,150 higher at £1,396,687. . . Losses are £711,318 higher at £3,274,028 and the ratio of losses to premium income is 81.34 per cent, against 59.8* per cerit. in 1950. Expenses, ate up Uy £77,176 to £1,342,285. The ratio of 25.15 per cent, compares with 29.54 the previous year. The surplus on the year’s operatiojwis down sharply by £169,153 to £175,294 agaidst last year's record profit ot £344,447. Interest and rent* are up by £21,368 to £256£31. The directors have transferred £lOO,OOO to the general reserve against £200,000 last year, and £75,000 to the investment fluctuation, exchange and contingencies reserve against £lOO,OOO. The interim dividend absorbed £112,300 and provision Is thade for a final dividend of .d similar amount making the total distribution of 3s a share or 15 per cent unchanged. The sum carried forward IS £349.055, against £3i6,930 brought In.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19510804.2.123
Bibliographic details
Press, Volume LXXXVII, Issue 26491, 4 August 1951, Page 8
Word Count
211COMPANY NEWS Press, Volume LXXXVII, Issue 26491, 4 August 1951, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.