FEWER CLAIMS MADE

Gisborne Herald, Volume LXVIII, Issue 20625, 5 August 1941, Page 6

FEWER CLAIMS MADE

N.Z. INSURANCE COY. SATISFACTORY PROFIT (Per Press Association.) Y AUCKLAND, this day. “The demands upon the company arising from the war has affected our operations in many respects, but it is gratifying to record that, while the company lias suffered, it has also benfited to the extent that the accounts now submitted show a very Ltisfnctory profit,” said the chairman, Mr. F. A. Hellaby, in moving the adoption of the report and balance -.beet at the eighty-second annual meeting of the New Zealand Insurance Company, Limited, to-day. Many factors not under the control of the company had contributed to the result. One was the fact that to-day, goods and property had become more valuable. Stocks, in many cases, were irreplacable. Everywhere there tended to be a scarcity. For these reasons doubtless, extra care was exercised with a consequential reduction in claims. The company's fortunes had not suffered during the year at any point, and the major part of the net profits earned during he year had come from many countries beyond New Zealand in which the company operated. Three-fourths of the company’s business was derived from overseas branches. What the future might be in some fields, it was impossible to forecast, but the company organisation should suffice to meet any contingencies which could resaonably be foreseen.