NATIONAL INSURANCE CO.
“ A SLICE OF LUCK.” (By Telegraph—Press Association.) Dunedin, last night. At the annual meeting of the National Insurance Company, Mr J. M. Ritchie, chairman of directors, in moving the adoption of the report, recommending a dividend of Is 3d per share, said that at several points, notably in Now Zealand, the company had made no profit at all, but at other points tho company had done well. Thanks to tho staff and a bit of luck thrown in, the company had not done so bad in non-paying districts as others had done. Tho premium income had increased nearly £6OOO, but of every 20s taken in premiums the company had saved for itself about 2s 2d, and the Board placed £IO,OOO to the reserve, because they believed they had a slice of luck this year, and were not justified in distributing more of the profit. The report was adopted, and Messrs J. M. Ritchie and Keith Ramsay were reelected directors.
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Bibliographic details
Gisborne Times, Volume VI, Issue 263, 15 November 1901, Page 2
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162NATIONAL INSURANCE CO. Gisborne Times, Volume VI, Issue 263, 15 November 1901, Page 2
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