STANDARD INSURANCE COMPANY.

Lyttelton Times, Volume CXXII, Issue 15558, 7 March 1911, Page 7

STANDARD INSURANCE COMPANY.

[Per Press Association.] DUNEDIN, March 6. The annual meeting of the shareholders in the Standard Insurance Company was hold to-day. The Hon 1. Fergus presided. The annual report stated that the income for the year, including the balance from last jear, was £134,802 18s 7d, and the expenditure £106,053 13s Id, leaving a balance of £28,749 os 6d. An interim dividend in June absorbed £2812 10s, and the sum of £IO,OOO had been added to the reserve and £2500 to too re-insurance reserve. The directors recommended a dividend for the half-year at the rate of 8 per cent, absorbing £3OOO, a bonus of 6d per share £2500, and carrying forward £7936 15s 6d. The chairman stated that the gross premium income showed an increase of £10,240 and the interest on investments an increase of £454. The ratio of interest on investments was 4.68 per cent. Losses totalled £36,592 11s 3d. The ratio of working expenses was 32.38. Reserves stood at £97,500. The motion for the adoption of the roport and balance sheet was seconded by Dr Ogston and carried. Tlie retiring directors. Messrs John Reid and Daniel Haynes, were reelected. /