INSURANCE TRENDS
Fire and accident insurance statistics for the year 1963-64 show upward trends in premium revenue and claims with a widening margin, according to the Abstract of Statistics.
Revenue from fire insurance premiums amounted to £7.5 million, and expenditure on claims was £2.5 million. The corresponding figures for the previous year 1962-63 were £6.9 million and £2.1 million. Other items of expenditure including fire service levies, salaries and wages, allowances and commissions, were £3.7 million, compared with 3.5 million in the previous year. Gross fire losses decreased, and the average loss per fire dropped from £lll to £B4. In accident insurance, where the main fields are motor-vehicles and employers’ liability, revenue from premiums was £23.4 million and expenditure on claims was £15.1 million. The corresponding figures for the previous year were £21.1 million and £13.4 million. Salaries and wages, together with allowances and commissions, accounted for £4.3 million in 1963-64 and £4.0 million in 1962-63 of the other items of expenditure. The percentage of claims paid to premiums received dropped from 63.4 in 196263 to 62.8 in the latest year.
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Bibliographic details
Press, Volume CIII, Issue 30630, 22 December 1964, Page 12
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181INSURANCE TRENDS Press, Volume CIII, Issue 30630, 22 December 1964, Page 12
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