STATE FIRE BUSINESS
A RECORD YEAR.
From the Minister in Charge o£ the Stale Fire Insurance Office (Hon. W. D. S. Mao Donald) it is learned that the business for the year ended 31sfc December, 1916, establishes a record. The net profit -is £35,699, which is compared with £25,653 for 1915 —the then highest since tho office was started 12 yea.rß ago. The loss ratio for 1916. was 28.22 per cent, of premium income, and tho net losses were £21,897. Tho increase in premiums received amounts to £6443. Accumulated funds nt the end of 1916 amounted to £155,958, an 'increase for the year of £39,274. , . . ■ . . "In ordinary circumetances,". said the Minister, "with this sum in hand we could have seriously considered the question of tho distribution of a bonus to policyholders, as provided -for 'in th® State Fire Act, but owing to the depicted state of the staff and the large amount of labour involved _in making the assessment, the question must necessarily be held over, pending the termination of the war. Before the assessment can be made it will bo necessary also to secure extended office accommodation.'' ■'■■
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Bibliographic details
Evening Post, Volume XCIII, Issue 48, 24 February 1917, Page 6
Word Count
188STATE FIRE BUSINESS Evening Post, Volume XCIII, Issue 48, 24 February 1917, Page 6
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