NEW ZEALAND HAS BIG FIRE WASTE.
INSURANCE CHAIRMAN REVIEWS POSITION. Per Press Association. WELLINGTON, August 6. At the annual meeting of the New Zealand Insurance Company, the chairman (Mr C. Rhodes) said that business in New Zealand, both fire and accident insurrance, still gave cause for some concern. The abnormal fire waste of the past two or three years continued without abatement. The average claims cost of underwriters in New Zealand for the last statistical year was over 7. per cent. Add to this their average expenses of 38 per cent and it was clear that much business was done at a loss. Fortunately, with operations in other fields the company was able to show an aggregate claims cost of 61.2 per cent and expenses 30.6 per cent, which yielded a moderate margin of profit, 8.2 per cent. Without being extravagant this gave some reason for congratulation under existing condiAfter full consideration, and in accordance with their conservative policy, the directors had decided to recommend that the dividend this year be not increased, but maintained at elevenpence per share for the half year, nmking Is lOd per share for the 3’ear.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/TS19290806.2.74
Bibliographic details
Star (Christchurch), Issue 18830, 6 August 1929, Page 9
Word Count
191NEW ZEALAND HAS BIG FIRE WASTE. Star (Christchurch), Issue 18830, 6 August 1929, Page 9
Using This Item
Star Media Company Ltd is the copyright owner for the Star (Christchurch). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Star Media. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.