THE LIVERPOOL AND LONDON AND GLOBE INSURANCE COMPANY.

New Zealand Mail, Issue 383, 14 June 1879, Page 10

THE LIVERPOOL AND LONDON AND GLOBE INSURANCE COMPANY.

j (From the Review, Feb. 26*, IS7'.» )

...: 4'jio |ipeetftngr tj, v .. j .po.jl and Ijonrlon and (stobe [iisurim n •ffcby was held y.A t'yrd.ry, ■p.l'l\v'-f\f ■'■'■. :' i - t.lieport au'd'act: uintis'are'poi.ti.-lied i:i f ! • i.-, i-s-i . • aod are 'worthy of thri' earnest' atcehtion'bf "uui-" rcadbra. Tfie ' r'cpor6" coinihencea' I3y" stating,' thatj as commercial depression increases rate's of lire insurauce decrease, and that,' although ' tlie amount of*hu'sihess**dorie"Ts greater'th':in"ni • IS//, yet the net ore premiums are less. It is satisfactory, from this poiriC'df "View?" to' • -tind! that| the'losses' ai-e not more than £537,483, being "under 'o3 per ceiif-. or 'ili'e' 'riec'jiFeirifuuVs* 1 < received. ' THe ''m'e'"pfeihii"ihsJ'in'sp'T£e "61 "tfie" depression in 'frado;'stilFlreep* ali'dVe the'in?!-" - liou, ! beiJ^''^l 0 ,0r6;59"^.' v 'ThV'ge'neral 'result' of fthe year's worlc'is that 'the am'oYmt of'£l!>(}' t (f()d T 1T,.-, ~l ~,1 ... <, ,J- ..(., ..,..,.,1 " ... . -is carried to the general reserve .and hre reinsurance fiihd," which' now 'amounts "to tlie ' colossal"suni" of"i£l,3oo,'ooD. 'This'is now the' ■ fourth'cdhsecuV.ive year in''which the' c <nip'any' h«ks added £150,000 to its reserve funds. At' this pace iii a'few years' it will*-fce diTficiilc'ltd 'find; an institution, iu all the world likely to' rival the Liverpool and' Ldiidb'n antl Globe 'lnsurance Company. ■,...'...,.. F. .•'.!!. ~, !. ; .,. ........... , • "The. life itself this y,ear for ■special notice. ..The .end, .of. a f qi}\ngueunjum t haviqg arrived, -a yahiiitipii of .the. liabjiliti.es, and; assets. ,yf the, branch .lias bee,i) made by the hctuary to the compahy, Mr. Augustus ''[lehd.nkFa a r?IT.i* n «?.j a fi* :i J, ar y,:}° ,?. ne j;^J u * perial Life Office, Mr. Andrew Baden." Aj-_ •though,.„wq\l, known inside,the.jprpf it. may not be so equally 'that for many vears pash and by easy gradations, the'life b'raucTi'of tlie Liverpool and ''L'ondoh'and'Globe' has been arriving at apoirit 'whfir'e, hot'coutent'with" proving "it's soTveiYcy, it seems bent upon anticipating all'crltrcisrnV' It is h6t bur j iiitentioli'he'i , e''t()'l-efer''td"'tlie nrnst' 1 "valuable efforts rha'de iii'''this"dlrecr,iiA , i' some' years ago, but we must now remark upon die" •freshT'evidences b£ pru'den'ce'"au<T 'Foresight' "eVinced hy'tlie'lUcid' report' befdre "Th ! e'' : clbsiu'g of the "guarantee b'ori"us"class is'wei'cb'rae' 'to all friends'of the compahv',' and'the Valua-" 1 tiori ()f'tlie life'arid" endbwin'ent" business of'tlie' Liverpool and London and Globe by'the "In-" ' stStilte 6F 'Actuaries "tables' 'Hm""atfd liiri."(s"( I taking only the lira"; ( net 'premiums"'at ''l .per' "cent.'is, so" tb'speaTc,' a crowning of the "^clinc^." .*' "It, is gratifying to'liave. to report that a reversionary bonus of 355.' per" eerier lias "been 1 'declared to member's of' the participating class" fo'rriied'durfhg'the'quinq'uehninrri. Tlie 'careful manner in which the life business of the"com-' pany'is carried 'on is" well 'illustrated *by" the statements in" the"rep'6v£"relStiVe to* the^buVi 4 ;" ness for, IS7B. It appears that proposals to' ,the; this only £%pt%4b7* wtjTs' ac'ce6t'ed." Tc ffiTsofiie'-^ . what puii'suaTTor the 'rejections' by' kn'y dmce's"' to jb'e' equal" t'p" about' 50 r per 7 * cent"." of "the" ambunts actually'taken.' The'Watelirufries3*'oF.' the HP 'the' 'life' branch cannot be "better illustrated 'this'-(simple fact.-' '.The i\ew'' premiums ' -arhtHiifted -'to 3 ' the satisfflic'tbry ambUnt ; of'£ll',ll4, and -tlie tbtallife premiuni'lrtbame l wtt3 , £ 1 2i8,!f53. r 'The in- ' croase'd , 'valu'e ; 'bf'investffle ; iits , iH very prop"erly" retaiued in the fund profits' arisifa? 'From aS* rise-"in v«l , ne"of' securities are hardly divisrWd in hhy-givenJyearo or .series'.,of iyeArsvI'll! their action on this point-t the. bbacd.have ; agaib-flhown'a'wi-se fconfervativism. -.-TJie-iPe-.': suit of the new valuation- of 'the l\as tieen to apply-sueh-a-isfcrlngertt.fcest.to the/ resources of the company that a certain "pro-, portion of "being, -divided}.' hecefesarlly kept- backhand added-to the reserves! • » • - •>■•'■ ■-,-.' ■• ■■■< •, » ....c.,i„

'",' The board of directors seeming bent upon"the policy of accnmidatiug large reserves in all' departmehfcs; .• t-be ; ■'fbTfeubate.'.proprietons-. ane. compelled to accept a dividend of only 40.-pur-, year. We do not suggest that atiy officer: of - "tlie Corripiroy'should be sacrificed, like-the ring? "of PolycrateS,'to avert fthe jNemesis Bnppos«ai "to! fdllow on too' tonch but we do- ' strong>ly urge upon' the-shareholders, to isaori- ■■■ 'nqe themselves a little, and by accepting.itlie-"dividends-re'eommeuded bv 1 the board.ofidirec-' ' tors'"permit-.(jhe'remainder of fclve profit* bob& accumulated to meet a -possible'variation.-of, their good luck at some future date. We may, however. 'for"'ohrselves; reinark - that/' the ■ linchahging prospdrity of' the "Company bus some'- 1 thing about' it' peculiarly gratifying, not oiily to the shareholders}'buVto"rtH-'wlio-valute thereputti'tibu of the Britfs'h' ihsdrau'Ctt companies■■ generally.' ■■■' '' " '" ' "' 1 ■■'• ■ ... A' ! coThparisori bf the figures -By the for'the'pasffdur yeh r rs hiayhere be fou : nfl nbt uriiVistrubtiv-e;'' ,; The*re.sbnrt3es'of the compahy have developed sihee'lß7's'iu tlie "ihahri'ef'shown herewith ' ' ' • ■•••« • ,: • -■ '■■

i It b.ecoine3 evident from the, above that the, compapy is adding to its accumulated luuds at tho .rate., of, a, thiyd pf a p,er anqu : m, owing to wjse and qareful adfninistjipse ,who are for.the" •_,'<> of the pfiice. That such vast ac/•lit; iijatjjjus should march hand ip Ijan'dwilh f *'"Jv r: u ''ir,did dividends, cannot but reflect"the j niftiest credit upon all connected "'with the, ~-cb'tipauy, ftpm..thf .chairman of the board'to „tlie uiashine so well and so continuously is no

' n .', ... i ...i, ..; . . rri —iTTT '■' . . ■: i' . ■ ■ i ■: 1 inarjjenterprise, aqd,the cflngraJ;ulatiqns,of ; liie proprietory, are, >yell mecifi.ed by ,the ai/-' ( mi of th£s , , ( ahcl 4 ;1 luiiishing institution.

"-.i-..i ....:j; - -j "B^SIBMBfi^^i' ' IS78.' capital, ,\ Life assurance fund '.. | Annuity fu'rfd'7.'' .: General-- 'Te-.orve ■ fire ■ fund ,„.,,< . i ; .. profit and loss .. Other funds ".."' " .'. 2,40040 245040 245040 245040 2177815 2307176 2373311 2550470 426!)001 430S90 452658 462236' - '»■■•• - : '• <- » | §59000,1000000 U50Q0 J }3Q00D01131104 151ISI 185141 146950 152850; 153S0S ' 1531)70 14U414 ( , _ ,. Other , ing funds set apart for" 'Cltfbe" 'anrnii- ■* tants, dtri.;••'»&'"per • balance-sheet ., .,> 3i>843«<J 42*8563 4560718 4S4809!0. 1183841 1205.525 1253048127774 C • " Total assets ".. '51C8210;5491033;.5S14360 ! 0126 ; 44'2 " ••■ I- -■<•! • i- .i •