ACCIDENT INSURANCE
SUCCESS OF STATE SCHEME. The year which ended on December 31, 1924, was one of progress for the accident insurance branch of the Government Insurance Department, according to the annual report tabled in the House of Representatives yesterday. Tho gross premiums amounted to £40,632, and the claims £24,764. The total assets were £187,836. “Probably the outstanding feature of fhe year’s operations is the drop in the ratio of management expenses to premiums, from 28.9 per cent, to 26.7 per cent.," stated the report.” The average ratio of expenses to premiums in the case of the Department’s competitors in 1923 was approximately 38 per cent., and from these figures it can be seen how economically conducted has been the business of the Department. . . Tho aim of the department has never been to push, regardless of cost, for big business figures, but to render the greatest service to the assuring public by keeping expenses, and consequently premiums. down to the lowest possible level compnribi* with sound business principles.”
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Bibliographic details
Dominion, Volume 18, Issue 270, 20 August 1925, Page 7
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168ACCIDENT INSURANCE Dominion, Volume 18, Issue 270, 20 August 1925, Page 7
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