INSURANCE AMALGAMATION
NORTH BRITISH AND “LO.A.” Attention is drawn to the announce* incut in our advertising regarding the amalgamation of the North British and Mercantile Insurance Company, Ltd., with the Insurance Office of Australia, Ltd. (the “1.0. A.”). Tho North British and Mercantile Company has purchased most of tho shares o’f the “1.0. A.,” the shareholders of the latter company receiving nine shillings for each five shillings share, which represents a bonus of four shillings per share. The companies will operate separately as heretofore, Mr D. E. Wilkie continuing as superintendent in New Zealand for the North British and Mercantile Insurance Co., and Mr Frank Hurley will eontinne to act as local manager for the 1.0. A. Policy holders will have the benefit of the amalgamated capital. The North British and Mercantile Company is one of the strongest British insurance companies, having assets exceeding £25.000,000.
The “1.0. A.” is a young company, having been. established in 1910. Phenomenal progress has been made by this company, and in 1920 the gross premium income was £555.000.
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Bibliographic details
New Zealand Times, Volume XLIX, Issue 11224, 1 June 1922, Page 6
Word Count
174INSURANCE AMALGAMATION New Zealand Times, Volume XLIX, Issue 11224, 1 June 1922, Page 6
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