Page 6 Advertisements Column 4

Lyttelton Times, Volume IX, Issue 589, 26 June 1858, Page 6

LIVERPOOL AND LONDON FIRE. AN LIFE INSURANCE iCOMPAiNY. THE twenty-second -Annual' General Meeting- of the proprietors was held, pursuant to the provisions1 of the deed of settlement* on the eleventh day of February, 1858/ in the Company's Offices, 1, Dale-street, Liverpool; wheu thedbllowing report was presented. In the summary of the Company's operations during the past year, evidence wiir,be found of. its continued progress.and'prosperity. " An amalgam ation with the Monarch Assurance Company, which was under discussion $t theelose of -1856;-has been completed, and an important^ adcUtiom.hasthereby.been made to the (proprietary,: agencies;; and connexions of •the, .Company. , Its permanent funds and annual revenue have been greatly'augmented, and, notwithstanding .the comparativelys recent date of its establishment;;it takes now a first rank amongst insurance institutions. The number of shares issued during the year is 6707; making the total number in the hands .of the,proprietors 94,211, which,-at,£2 a,. share, represent a paid-up capital of ..£lßß^422^';" " Fieb Depaetment.—The increase in- the fire.premiums as compared with those of 18_»6 is £66,971 9s. 10d., and-the Board desires to. acknowledge the growing confidence in the Company, which that fact so strikingly illustrates. In 1856 the premiums were £222,279 lOs. 6d.; in 1857 they have amounted |to £289,251 Os. 4d. A business of such magnitude brings with it responsibilities for those engaged in its management; but its sources ate !so various and so tdahy, the area over which jit. is spread is -so ! extensive,-' as to encourage j a feeling- of security«in ithe shareholders that serious disaster is not likely to .befal.them..Tljie sum required to meet the;losses by fire in 1857 was £165,240 7s. 6d. " Life .Depaetment.—The new premiums of 1856 were £12,770 14s. lid.; those of the past year,'£l6,2ls 15s. 6d., derived from 701 policies, insuring £502, 025. The total income from premiums was £101,928 14s. Id., and the claims amounted to £46£16 12s. lid.* These figures show very satisfactorily that, in this department also, an onward movement has been made; but there is still to add to them the sum of £26,995 i75.,7d., which, has been received in purchase of annuities, amounting to £2,118 10s. 4d.:; there has been paid to annuitants in- the course of the year £13,497145. 4d., and eleven annuitants have died, whose annual clainis on.the company were £856 Bst " Beanoec Establishments and Agencies. —It has already been intimated that there h&s been a considerable accession to the number of the company's agents, and the directors would here merely add; that they highly appreciate the very valuable services rendered;to the- company by the various boards and agencies, whose _ contributions to the general result are so.considerable and important. Without seeking to discriminate where all have aided efficiently in. -plftfting'the-offie6^in^a r 4»si"' oo**-*o^_f a*^^ of ■ their-respective communities, they would.bfcg to. bespeak for the new year, a continuance tof exertions which.the brisk competition of' the.: day renders so essentialto success. " Reserved Sueplits Fund.—The premium received on the shares issued is £34,354 Is. lid., which has been carried to the credit of this account; now amounting to £214j616 lis. lld.j " Peoeit _ and Loss.—The result of the year's working is seen in the balance of this account, which proves to be £210,237. Out/of. this sum the directors have determined to declare, subject to the approval of this meeting, a dividend of twelve shillings per share, freejof income-tax. When that has been paid, there will remain, carried forward as a Re-insurance Fund, the sum of £153,710 Bs. " The following table will show the position of the Company's Funds now, as compared with 1856 :— 1856. Isnowi The capital... .£175,008 * 0 0 £188,422 01 0 The reserved fund 180,262 10 0 214,616 11 11 The life fund 339,450 510 531,269 13:10' The fire re-in-suraneefund 125,653 6 5 153,710 B_~<o , *S»" £820,374 2 4 £1,088,018 13 ; 9 Increase 1857. On capital ... £ 13,414 0 0 On reserved fund 34,354 1 11 I On lifefund... 191,819-• 8- 0 On fire re-in-surance fund 28,057 1 7 £267,644 11 6 " The directors cannot conclude their report without expressing their gratification on seeing the proprietors assembled on this occasion in a building of their own._ They trust that, in style, in finish, in execution, and arrangement, the structure will be found all that'can be wished; and that, as an investment, it will be sufficiently remunerative. « JOSEPH C. EWART, Chairman, "Liverpool, February llth, 1858." LIVEBPOOL AND LONDON FIRE & LIFE INSURANCE COMPANY. Established 1836. EMJOWEEED BY ACT 01? PAEIIAMENT. The amount of capital subscribed exceeds £1,500,000 THE liability of the Proprietors is declared by the Company's Act; of Parliament to be unlimited. Fiee Lnstjeances at eeduced rates of prei mium, varying from 10s. 6d., to £3 per cent, I according to the degree of risk.