N.Z.INSURANCE
SOME NOTABLE INCREASES
A premium income of £1,763,659 is shown in the accounts of the New Zealand Insurance Co., Ltd., Auckland, for •■ the year ended May 31. This is £357,872 higher than the previous record of £1,405,787, established in 1938----39 Any comparison with the results of previous years, however, is difficult; as for the first time, all figures . in the latest accounts are expressed in New Zealand currency. A further increase occurred m losses which totalled £1,105,965; The ratio to premium income of 62.71 per cent. ' shows a decline, the first downward trend since 1934. Expenses were £85,177 greater. Commissions and management expenses rose by £60,550 to £384,656, while taxes and appropriations were £24,627 higher at £78,152. Directors' fees are £750 lower. The expenses ratio is slightly lower at 26.24 per cent. The year's surplus of £112,885 compares with £94,666 in the previous year With net income from interest and rents, £151,834, there is a total profit of £264,719, against £231,678 a year ago. ... The appropriation for taxation reserve has been increased from £10,000 to £40,000, while an additional £20,000 has been donated to the New Zealand War Expenses Fund. -The usual £50,000 is transferred to reserve, while the year's unchanged dividend of 10 per cent, absorbs £150,000.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19400730.2.160
Bibliographic details
Evening Post, Volume CXXX, Issue 26, 30 July 1940, Page 10
Word Count
209N.Z.INSURANCE Evening Post, Volume CXXX, Issue 26, 30 July 1940, Page 10
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.