MOTOR INSURANCE
UNION SCHEME PROFITABLE. By Telegraph—Presa Association. CHRISTCHURCH, Sept. 28. The annual meeting of the South Island Motor Union Mutual Insurance Association was held to-day. The chairman (Mr W. R. Carey) said the year had been marked by satisfactory progress. After making provision for unexpired risks, depreciation, and all other liabilities, a surplus of £10,164 had been shown. The premium income was £30,106/10/-, And losses amounted to £11.161. The total funds at June 30th, 1932, were £56,124 13/-, of which £14,988/15/- had been placed to reserve for unexpired risks. The general reserve was £33,033. The loss ratio was 37 per cent., and the expense ratio 19.8 per cent. It was agreed that three additional directors be appointed to the board, the idea being that these should not be residents of Canterbury. Mr W. R. Carey and Mr C. G. Curtis were elected directors.
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Bibliographic details
Timaru Herald, Volume CXXXVII, Issue 19300, 29 September 1932, Page 4
Word Count
144MOTOR INSURANCE Timaru Herald, Volume CXXXVII, Issue 19300, 29 September 1932, Page 4
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