STATE FIRE INSURANCE.

New Zealand Herald, Volume XLV, Issue 13762, 29 May 1908, Page 5

STATE FIRE INSURANCE.

"A MAGNIFICENT-BUSINESS." [BY TELEGRAPH. —OWN - CORRESPONDENT.] Wellington, Thursday. Mr. J. W. BftiN'DLUY, general manager of the State Fire Insurance Department, who intends to retire at the. end of the month, slated to a press representative to-day that he does not consider that the remuneration for the arduous duties is sufficient. Mr. Brindley draws a. salary of £800 per annum. He submits that he has built up " a magnificent business" for the State. The Government's share of the fire insurance done in the colony is close up to 10 per cent., one of the largest .and soundest businesses in ,the colony, "and it has been done with raw-edged tools and against keen opposition," states the retiring manager. "For three years, notwithstanding the low rates, 1 have made the Department pay. This year — exceptional year for fires —we are in the position of being ;able to show a margin of profit, a feat which the private companies consider impossible. • Provided there is no extraordinary bad luck towards I the end of the year we are making a pro;fit, though, we are selling for £20 what was originally sold for £30." Mr. Brindley refers to the reduction of 33£ per cent, in the premiums on dwelling-houses. The State Fire Department is to be placed under the supervision of Mr. J. H. Richardson, Commissioner, of the Government Life Insurance Department.