A VIGOROUS, YOUNG INSURANCE COMPANY.

Observer, Volume XL, Issue 27, 6 March 1920, Page 9

A VIGOROUS, YOUNG INSURANCE COMPANY.

NEW ZEALAND BRANCH OPENED. irp HE business section of this • Dominion will be interested to learn of the establishment of a New Zealand branch of the Insurance Office of Australia—a company that has made exceptionally healthy progress since its inception in 1910. With a gross premium income of £458,000 in its eighth year (an advance of £208,000 on the previous twelve months), and the low expense ratio of 27 per cent., the 1.0.A. has given evidence of sound management and practical achievement, making a record that any Office might be proud of.

Although a young Company, the Insurance Office of Australia has won a notable position amongst the Insurance Companies of the World. It has over eleven hundred Australian shareholders, the subscribed capital being £250,000, of which £124,379 is paid up, while the reserve is £45,222. The balance-sheet as at 31st December, 1918, showed total assets £213,716, and since then £41,823 has been added to the resources, of the company. A dividend of 10 per cent, is paid to shareholders.

Having established a firm position in Australia—with modern freehold offices in Sydney, Melbourne, and Brisbane—and representation _ in London and elsewhere, the directors set about extending operations to other parts of the world, and arrangements have now been completed for representation in America and the East.

In pursuance of this policy of expansion, the 1.0.A. has made its advent in New Zealand, and the Head Office for New Zealand and Auckland Branch has been established in Auckland on the ground floor of the New Zealand Insurance Buildings, Queen Street. The Directors of the Head Office for this Dominion are Messrs. John Alexander (Alexander and Bennett, Barristers and Solicitors), chairman: Chas. Gγ. Macindoe (Macindoe and Tattley); and John Hellaby (R. and W. Hellaby), and the Manager for New Zealand is Mr. C. I. McKean. . This vigorous young Company, although established, less than ten years, will bear the closest examination of the most critical eye. Fire, Marine, Workers' Compensation, Personal Accident, and Sickness. Loss of Profits, Live Stock; Motor Cars, Hailstone, and so on, are the lines on which the Company has already built up a substantial business. The 1.0.A., in fact, underwrites all classes of Insurance (except Life), and its progressive methods and honourable treatment of the insuring public has secured for it a unique position in the Insurance world. The 1.0.A. has a capable Staff of Representatives available to call on clients at their homes or place of business, and discuss their requirements. A small Policy receives the same careful attention as a large line. . ,;.; Active Agents are wanted in ,the City and Suburban areas,, and also in the Country Districts, and th« 1.0.A. Ie prepare&to pay the highest possible terms in order to secure capable and energetic representation.