Company News LOSS RATIO REDUCED
National Insurance Year (New Zealand Press Association) DUNEDIN. Nov. 14. Net premium income of the National Insurance Company of New Zealand, Ltd.. -Dunedin, rose £164,567 to a record £1,492,709 in the year ended September 30. Claims rose £80,382 to £924,238, but as a percentage they fell from 63.5 per cent, to 61.9 per cent, of net premium income. Expenses were £57,031 higher at £411.580. and as a percentage of net premium income, they rose from 26.7 per cent, to 27.6 per cent. The addition for unexpired risks is £90.500 (up £29,500) and the underwriting surplus is £66,391 (down £2346). Interest, etc., rose from £49.947 to £52.520. Aggregate profit is almost steady at £118,911 (up £227). Recommended final dividend is 8d a share making Is, or 10 per cent, (unchanged). This requires £50,000, 'additions to reserve take £48.961 (up £8961) and £15,000 (down £12.500) has been written off freehold properties. Carryforward is increased from £49,950 to £54,000.
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Bibliographic details
Press, Volume XCVI, Issue 28435, 15 November 1957, Page 19
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161Company News LOSS RATIO REDUCED Press, Volume XCVI, Issue 28435, 15 November 1957, Page 19
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