THE UNION INSURANCE COMPANY.
TRANSFER OF THE BUSINESS TO AN ENGLISH COMPANY. Chbistchubch, May 6. It is announced that arrangements have been completed for the transfer of the business of the Union Insurance Company to the Alliance Fire and Alliance Marine Insurance Companies of London, and that a meeting of shareholders of the Union Company will be called early in June to confirm the arrangement in question. It is understood that the Union shareholders will receive about 39s a share for their shares, and as the present price is 29s the transaction would appear to be a very satisfactory one for the Union shareholders. The Alliance Fire and Marine Companies are two of the most substantial and most favourably known of English companies. The funds of the first-named amount to L 3,400,000, and of the latter to L 450,000. Lord Rothschild is' the chairman of each company. The present directors, managers, and staff of tho Union Company will continue to represent the Alliance Companies throughout New Zealand and the Australian colonies,
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Bibliographic details
Otago Witness, Issue 1994, 12 May 1892, Page 12
Word Count
171
THE UNION INSURANCE COMPANY.
Otago Witness, Issue 1994, 12 May 1892, Page 12
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