INSURANCE YEAR
SOUTH BRITISH "COMPANY
(P.A.)
AUCKLAND, Oct. 22
"I think I am not unduly optimistic in suggesting that there is reason to believe that the period of heaviest destruction of Allied shipping has been passed," said Mr. W. R. Wilson, chairman of directors, at the annual meeting of the South British Insurance Co., Ltd. He added that certain powerful States hitherto neutral had now declared themselves on the side of the Allies, which should render some, at least, of the important sea routes safer than they were. With the diminution of risk would come a reduction in insurance charges.
Marine policies had figured largely in producing the year's record income, he said. Considerable war risk cover was being placed with a the insurance companies, but this would likely diminish with the extension of the facilities provided by the Government War Risk Bureau.
Mr. Wilson said that in New Zealand fire wastage had been comparatively light, but the earthquakes of June and August affecting the Wellington Province would cost the company a good many thousands of pounds by the time-all claims had been met.
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Bibliographic details
Evening Post, Volume CXXXIV, Issue 99, 23 October 1942, Page 4
Word Count
184INSURANCE YEAR Evening Post, Volume CXXXIV, Issue 99, 23 October 1942, Page 4
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