STANDARD INSURANCE COMPANY. [UNITED PRESS ASSOCIATION.]

Evening Post, Volume XXII, Issue 57, 6 September 1881, Page 2

STANDARD INSURANCE COMPANY. [UNITED PRESS ASSOCIATION.]

Dunedin. sth September. The fifteenth half-yearly meeting of the shareholders in the Standard Fire and Marine Insurance Company (Limited) was held this afternoon, Mr. C. Reid, chairman of directors, presiding. The balance-sheet bhowed the profits for the half-year to be j85190 14s 9d, which were carried forward. In the course of the chairman's remarks, he said that they had been for the last two halfyears obliged to fall back upon their reserve fund ; and, having this in view, the directors consider it best, in the interests of the company, that the profits of the half-year should be retained to, in some measure, make up for lost ground. Their premium income had been fairly maintained, notwithstanding the competition for business, the low rates ruling, and the faot that the directors had followed a most cautious line of policy, declining altogether to insure certain classes of property which experience had proved to be unremunerative or exceptionally hazardous, by which course th°y had avoided several heavy losses. The notable improvement which had taken placed in the value of the shares must, he thought, he very gratifying to holders. The report was adopted and the usual vote of thanks recorded.