STATE FIRE INSURANCE.

Stratford Evening Post, Volume XXXV, Issue 42, 18 February 1913, Page 2

STATE FIRE INSURANCE.

“MOST EXTRAORDINARY RECORD.” The Hon. F. 31. B. Fisher, Minister in charge of the State Fire Insurance Department, informed a New Zealand Times 'representative that the business done by tho office for the year ended December 31st last showed a most extraordinary record. The year’s profits not only beat all previous records, but nearly doubled the previous best record, which was in 1910. The profits for the year just ended wore nearly treble thj? profits for the preceding year, while the working expenses had satisfactorily decreased. The Minister added: “The figures, which will be furnished to Parliament in duo course, are an effective answer to those critics who declared that the Reform Government would kill State enterprise.” Tho office had made greater profits in tho six months the present Government had been in office than in any other corresponding period, and tho figures for tho ensuing year would be even greater than the past. More agents, and more energetic men were being appointed to canvass for business. The Department was paying these men better, and at the same time was making a stricter examination of risks. Tho result was that business was being picked up all the time. Every agent and officer in tho service of tho Department was encouraged to secure business, and received a bonus on the profits. Reinsurance business had still to be sent to London, but tho Minister added that tho Department was quite satisfied with this arrangement. INCOME AND PROFITS. Tho net income, said Mr Fisher, for 1910 was £41,787 ■ for 1911, £48,931; and for 1912, £56,315. The net increase in income for these years was as follows: 1910, £7749; 1911, £7144; 1912. £7381. The annual profits made were: 1910, £8487; 1911, £5591; 1912, £14,023. During these three years tho working expenses had increases from 28.3 per cent, to 1 26.7 per cent. In the month of December last alone the increase in premiums amounted to £BO7.