INSURANCE COMPANIES OF NEW ZEALAND.

Taranaki Herald, Volume XL, Issue 9255, 3 December 1891, Page 2

INSURANCE COMPANIES OF NEW ZEALAND.

COMMBtmNO on the report of the National Insurance Company, tho Otago Daily Times says ; — A comparison of tfje figures of the National during the past seven years shows that during five years they have, mads losbos and during two years profits on underwriting business. The total loss during these seven years amounts to £31,191 9s. The South British Company during the Baine period has made very large Tosses during four years, and a very considerable profit during three years, The Union Insurance Company and tho Standard Insurance Company during tho same period have made considerable profits upon the whole, though tho former in three years made small losses, and the latter in one made a loss. The New Zealand Insurance Company alono, amongst the five local offices, has, during the period of six years ending DecemVer, 1890, made a profit every year, totalling £95,585. Thoro are those who fancy that insurance business is extremely profitable, and who pojnt to the reserves and investments as a proof of the facf, No doubt underwriting was ' for ' many years a Uifls£ profitable business, but arevieHv of the periods since Jdß4 points to a' general' conclu'sioii winch contradicts '£be assumption' often made 1 , thpt ra^es should ho because too much money is )being made. Taking £he five New Zealand Companies named above, a^d leaying Jout the figures of tho Ijfew Zealand fhsuranoe for the presenjt year, whjcp are nojt ydt to .hand, fhe $o£al rosjuljts gince I#,B£ as £oJ),o\vs :— r ffje £ot.u} underwriting fncome lias amounted £0 np Jess a sum than £5. ,345, ,98. ; the total esppnditure hag been £5f293;9?6;5 f 293 ; 9?6; leaving a beggarly result &f £j52,053 aa a result, or a profit of less than J per cent, on v turn over of more thun five trillions and a quarter. It appears probable tlmt the directorates of both the South British and National have been able to put their hands upon tho weak spot in their businesses, which is not always an easy thing to do, and that, having stopped the loss, a return to the good days of satisfactory profits may be looked for.