VICTORIA INSURANCE
The business of the Victoria Insurance Company, Limited, Melbourne, in the year ended June 30 was affected by the serious bush fires. Although net premiums and investment income were higher, claims and expenses absorbed more, with the result that net profit was less at £39,695, against £52,210 in the previous year. The dividend is unchanged at 12£ per cent, for the year. The balance brought forward from last year was £.27,1524, making £67,319 available for distribution. The directors recommend a final dividend of 3s a £2 share, requiring £18,750; the addition of £5000 to general reserve, making this fund £300,000; and £5000 to reserve for unexpired risks, making a total of £170,000. Victoria General Insurance Company, Limited, which is associated with Victoria Insurance Company, Limited, also reports that, while the year's business had been satisfactory, profit was reduced by bush fire losses in January last. The net profit for the year was £4780, compared with £6780 in the previous year.
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Bibliographic details
Evening Post, Volume CXXVIII, Issue 47, 24 August 1939, Page 16
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162VICTORIA INSURANCE Evening Post, Volume CXXVIII, Issue 47, 24 August 1939, Page 16
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