N.Z. INSURANCE COMPANY.

Waikato Times, Volume 110, Issue 18392, 28 July 1931, Page 2

N.Z. INSURANCE COMPANY.

THE ANNUAL REPORT. The 93rd annual report and balancesheet of the New Zealand Insurance Company, Limited, states that the net revenue from fire, marine and accident premiums was £’1,145,257 4s Id, against £1,199,381 13s 7d last year. The directors propose payment of a dividend of Is a share, making 2s for the year. Last year the dividend was Is ltd a share and £300,000 was transferred from reserve to capital, making the shares fully paid up to £i each. In 1929 the dividend was fs lOd a share.

The surplus bn the year’s operations was £76,573 5s 4d, to which is .added Ihe net income from Interest and rents, £140,296 3s 9d, making a total of £216,869 9s id. With the balance brought forward from 1930, £209,074 0s 6d, loss a dividend at the rate of is a share paid in August, 1930, £75,000, the total available for distribution is £350,943 9s 7d. ‘ The interim dividend of is a share declared in February absorbed £75,000 and £95,000 has been transferred to the investment fluctuation and conlingenoy account, leaving a balance of £180,943 9s 7d. It is proposed to pay a dividend of 2s a share for Hie year, less interim dividend of Isa share paid in February, which will absorb £75,000, leaving £105,943 9s 7d to he carried forward.

The retiring directors, Sir James Gunson, Mr C. V. Houghton and Mr G 11. Wilson, offer themselves for reelcclion.