SOUTH BRITISH INSURANCE

Evening Star, Issue 23099, 27 October 1938, Page 14

SOUTH BRITISH INSURANCE

SLIGHTLY HIGHER DIVIDEND S PER CERT, STAFF BINDS [Per United Press AssociationJ AUCKLAND October' 27. , “ As you will gather from the further rise of over £160,000 in the premium income, business has been fairly active during the year, and, although we had to sustain some hard knocks in different parts of the world, we emerged with a reasonably good surplus in the underwriting account,” said Mr W. 'll. Wilson, chairman of directors, at the annual meeting of shareholders of the South British Insurance Company. He said the expenses (£316,339) were higher by nearly £23,000 than the previous year. The sum of £BO,OOO, hall of the increased income from premiums, had been added to the reserve for risks not yet expired, leaving £102,163 as the surplus in the underwrting account.

The directors recommended the payment of a' final dividend of BJd per share, making a total of Is 5d for the year, slightly better than ■ last year; they also recommended a 5 per cent, staff bonus on the year’s salaries. The retiring directors, Messrs P. H. Upton and S. Austin Carr, were reelected.