S.British insurance Increases Dividend

Northern Advocate, 27 October 1938, Page 11

S.British insurance Increases Dividend

[Special to “Northern Advocate."] AUCKLAND, This Day. “As you will gather from the further rise of over £160.000 in premium income, business has been fairly active during the year, and although we had to sustain some hard knocks in various parts of the world, we emerged with a reasonably good surplus in the underwriting account,” said Mr W. R. Wilson, chairman of directors, at the annual meeting to-day of the South British Insurance Company. He said that expenses were £316,399, higher by nearly £23,000 than the previous year. The sum of £BO,OOO, half of the increase income from premiums, had been added to the reserve for risks not yet expired, leaving £102,163 as a surplus in the underwriting account. The directors recommended payment of a final dividend of 81d per share, making a total of 1/5 for the year, a slightly better return than last year - . The directors also recommended a nve per cent, staff bonus on the year’s salaries. The retiring directors, Messrs. P. H. Upton and S. Austin Carr, wore reelected,