Mutual rebate
The Farmers Mutual Insurance group was able to rebate $1.5 million to its members and clients in the trading year to March 31, 1983, the chairman, Mr T. G. McNab, has reported. This was achieved on a gross premium income of $21.4 million, up 24.6 per cent on the previous year. Net claims paid and outstanding reduced by 5 per cent and represented a ratio to earned premiums of 50.3 per cent Operating expenses m-
creased by less than one per cent and represented 34.4 per cent of earned premiums. The net operating surpluse of $2 million was a profit of 15-2 per cent on premiums and investment mcome increased by $293,000 to $951,000. The profit before taxation and rebate was $3,021 million. Mr McNab said the accounts confirmed a very good year for the group in a competitive insurance market
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19831021.2.118.20
Bibliographic details
Press, 21 October 1983, Page 29
Word Count
143Mutual rebate Press, 21 October 1983, Page 29
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.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.