REMARKABLE EXPANSION.

Wairarapa Daily Times, Volume 48, Issue 14608, 6 March 1922, Page 6

REMARKABLE EXPANSION.

OF AUSTRALIAN PRVINCIAL . ASSURANCE ASSOCIATION. An items of considearble intercut to the insurance world and the public generally is the remarkable expansion of the business of (he Australasian Provincial Assurance Association. It has increased to such an extent that the directors have found if necessary U purchase for their own use one ot the most central buildings in Wellington, known at the National Buildings, situate at the corner of Grey and Featlierston street, for the purpo.'c of their New Zealand headquarters. The purchase, price of the property is approximately £20,000 and the Association will enter into possession at an early date. The Association is ten years old, ami in its ninth voar the new business it secured exceeded three million pounds. The financial position of the Association is exceeding sound, as its assets exceed L[- millions pounds, of wliie-h £BO.OOO is invested at the present time in New Zealand securities. This amount of £SO,OOO will be augmented by the deposit with the Public Trustee of a further £35.000 to meet the requirements of recent legislation in regard to Insurance Companies' deposits, so that, within the next few months, the total assets of the Association in the Dominion will amount to £120,000. The Association is the only Australasian general insurance company transacting all classes of insurance, i.e., life, tire, accident, marine, employers’ liability, etc. The management of the New Zealand business will be in the capable hands of Mr. T. W. Raplev, who h.s been with the Association some years, and has attained very considerable success as manager of the South Island for the Association. He will be assisted in his management by Mr. A. J. Hyder who has had very considerable experience and success in insurance circles throughout the Dominion of New Zealand for many years.*