Commercial Union Assurance Company.

Star (Christchurch), Issue 7177, 30 May 1891, Page 4

Commercial Union Assurance Company.

The balance-sheet of the Commercial ( Union Assurance Company Limited, > of London (the Company that purchased , the business of the Colonial Insurance Company of New Zealand), for tho year , ending Dec. 31,1890, has just been received . by the General Manager for New Zealand, '-. Mr Frank Allen, Wellington. A few . figures are quoted which may be interest- , I ing as showing the strength of the Com--1 pany. The net fire premiums received daring the year amounted to .£939,298 Oa j 3d, fire losses paid i.580,860 2s 4d, balance standing to credit of fire fund .6826,692 3s. The net marine premiums received during the year amounted to .£224,529 16s 6d, the marine losses paid were .£181,849 12a 2d, and the balance standing to the credit of the marine fund is £250,601 4s lOd. The report also states that the dividend declared for the year was 25 per cent. From the foregoing it will be seen that the Company's net income from fire and marine premiums for the year was .£1, 163,827, and that it paid in losses .£762,709, or over three quarters of a million. Ifi also has a fire and marine fund, out of which to meet emergencies, of .£1,077.293.