STATE INSURANCE.
RECORD SURPLUS FOR YEAR. (By Telegraph—Press Association.) WELLINGTON, July 18. The annual report of the general manager of the State Fire Insurance Office, Mr J. H. Jerram, for the year ended December 31, 1928, states the ratio of working expenses to the premium income, exclusive of income tax and fire board contribution (23.54 per cent), was lower than for the past 15 years and the surplus (£75,600) a record. In this connection the report says that during 1928, when fire claims on all insurance offices rose in an aggregate to a figure little short- of £1,500,000, the highest ever recorded, the State fire underwriting results on the whole were more satisfactory than for years past. The premium income was £211,634 and other receipts £40,459. Claims absorbed £81.585, and the bonus rebate £26,421. Reserves and funds totalled £744,271.
Reporting on the accident insurance branch of the State Office, Mr Jerram states that . while claims (£43,807) showed an increase over the previous year, the income (£71,731) from premiums and £12.368 from interest) was greater.
The ratio of working expenses, exclusive of income tax (22.98 per cent), was lower, and the surplus (£17,592) larger than in -any previous year in the history of the office. Reserves and funds to December 31 totalled £245.909.
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Hawera Star, Volume XLIX, 19 July 1929, Page 5
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212STATE INSURANCE. Hawera Star, Volume XLIX, 19 July 1929, Page 5
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