South British life business increasing

Press, Volume CXII, Issue 33093, 7 December 1972, Page 20

South British life business increasing

(N.Z. Press Association) AUCKLAND, Dec. 6. The directors of the South British Insurance Company, Ltd, expect the life assurance companies of the group to play an increasingly- important role, the chairman (Mr K. B. Myers) said at the Centennial annual meeting. He said the board saw no reduction in the demand for the group’s services. Mr Myers announced that the Guardian Trust and Executors’ Company of New Zealand would change its name to South British Guardian Trust Company. Approval has been received for the merger of the company’s South African interests with those of Union and National Insurance Company — in which South British held a controlling interest until 1966. The new company, Union National South British Insurance Company, would be a subsidiary member of the group. Commenting on the proposed bonus issue, he said it remained to be seen what policy the new Government would adopt in respect of the dividend stop, due to expire on March 27. The directors would consider a more even spread of the interim and final dividends, but any increase in the interim would not imply an increase in total distribution, he said.