STATE INSURANCE.

Lyttelton Times, Volume CXVII, Issue 17523, 5 July 1917, Page 6

STATE INSURANCE.

REMARKABLY LOW FIRE LOSSES

BONUS FOR POLICYHOLDERS.

[From Ocr Correspondent.] WELLINGTON, July 4

Tho net profit of the State Firo Insurance Department last year was £35,697, exceeding that of tho previous year' by over £IO,OOO. The loss ratio of 28.22 per cent was remarkably low and" is regarded as- quite abnormal, being hardly half the normal loss ratio for tho whole firo insurance business of the Dominion. "It would appear from our loss ratio for the past two years that tho war has had a marked influence on the destruction of property by fire. I trust this influence may be permanent,"' remarks the general manager. In view of the present strong financial position of State fire insurance the board has determined, under the provisions of the State Fire Insurance Amendment Act, 1912, to grant as early as possible a bonus to policyholders on premiums paid. Tho sum of £BOOO out of last year's profits has been set aside for this purpose and to cover the costs of making an assessment.