MERCANTILE MUTUAL.
Mercantile Mutual Fire Insurance Company, Ltd., Sydney, shows an underwriting surplus of £19,658 for the year ended •Tune 30, compared with an underwriting loss of £778 the previous year. With interest and rents of £20,080 there is available £39,737. Dividend of 6 per cent, requires £24,000, there is added'to the taxation reserve- £8000, and £2000 to the Officers' Provident'Fund, leaving £5737, which is carried to the contingency fund. Net premium income is down by £2652, and losses are down by £23,382. An increase of £3090 is shown in administration expenditure and commissions, and a decrease of £2796 in taxation, including compulsory subscriptions to fire brigades. The improvement in results on the year is £20,436. Taxation is 12.9 per cent, of premium income.
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Bibliographic details
Evening Post, Volume CXVIII, Issue 31, 6 August 1934, Page 12
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124MERCANTILE MUTUAL. Evening Post, Volume CXVIII, Issue 31, 6 August 1934, Page 12
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