THE INSURANCE COMPANIES DEPOSIT.
Wellington, August 7.
Replying to the committee of the New Zealand Underwriters' Association, the Treasurer (the Hon. J. G. Ward) stated that the Government were determined not to abandon the proposal that foreign insurance companies should make deposits with the Public Trustee. A bill dealing with the question would be introduced, and Parliament be asked to pass it.
Kepre&eutatives of life assurance societies doing business in the colony have practically dtcided not to offer any opposition to the Treasurer's proposals calling on them to deposit £50,000 with the Public Trust Office. It was, however, suggested that the contribution should be made pro rata on the amount of capital invested in the colony. The companies represented at the meeting were the Australian Mutual Provident, National Mutual, Colonial Mutual, Mutual of Victoria, New York Life, Citizens, and Mutual Life.
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Bibliographic details
Otago Witness, Issue 2111, 9 August 1894, Page 28
Word Count
141THE INSURANCE COMPANIES DEPOSIT. Otago Witness, Issue 2111, 9 August 1894, Page 28
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