SOUTH BRITISH INSURANCE COMPANY.

New Zealand Herald, Volume XLVII, Issue 14500, 14 October 1910, Page 4

SOUTH BRITISH INSURANCE COMPANY.

The annual report of the South British Insurance Company shows that this great local insurance institution can more than hold its own in competition with the strongest of foreign rivals abroad, although it shares the drawbacks imposed upon the insurance business' by unfair State competition in New Zealand itself. Our own country apparently does its best to cripple local financial enterprise of this character, for it not only prevents profitable business from being carried on, but actually taxes local insurance companies for the upkeep of the fire brigades, while exempting foreign competitors, who take the same business and obtain the same fire brigade service. In spite of this, however, the South British continues to flourish, and is to be congratulated upon the very successful year it has enjoyed in its widespread business beyond the limits of this Dominion. Its increased earning and decreased proportionate expenditure have enabled it to slightly increase its dividend and to increase its reserve fund to £340,000. Strength in liquid assets, is the most desirable material quality in a great insurance concern, for this not only gives unassailable security, but makes prompt payment possible under any and every circumstance. Auckland has every reason to be proud of an institution such as this, which not only provides openings over half the world for reliable young men who become the unofficial commissioners of our city, but establishes in so many countries our civic reputation. That no companies in the world have a more worthy name for reliability, straightforwardness, and unhesitating honesty is the secret of the remarkable success of Auckland insurance enterprise.