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Lyttelton Times, Volume CXVII, Issue 17936, 1 November 1918, Page 7

Last year was the most successful in the history of the State Fire Insurance Office. The gross surplus for the year amounted to £40,61(3, of which £13,923 had to be paid in income tax on the 1916 profits, leaving a net surplus of £26,686. The assets at the end of 1917 amounted to £i.H)8,220, as compared with £16,680 at the end ,of 1916. The total sum assured was £22,000,000, and the ratio of loss to premium income was 32 per cent. The income of the office from all sources in 1917 was £91,380. The premium income was £85,321, and the net losses were £27)302. The ratio of working expenses to premium income in 1916 wae 27.7, and in 1917 27.5.