H.-6,

1941. NEW ZEALAND.

STATE FIRE INSURANCE OFFICE. ANNUAL REPORT OF THE GENERAL MANAGER FOR THE YEAR ENDED 31st DECEMBER, 1940.

Presented to both Houses of the General Assembly pursuant to the Provisions of the State Fire InsuranceAct, 1908.

State Fire Insurance Office, Wellington, 28th March, 1941. I have the honour to submit the thirty-sixth annual report of the State Fire Insurance Office, for the year ended 31st December, 1940, with the Eevenue Account and Balance-sheet. The following are the comparative figures for the last three years:— 1938. 1939. 1940. Income — £ £ £ £ £ £ Premiums .. .. .. .. 193,501 205,539 218,253 Other receipts, less land-tax .. .. 46,099 50,743 50,258 239,600 —256,282 268,511 Outgo— Bonus rebate to policyholders .. .. 37,747 37,201 41,922 Claims.. .. .. .. .. 30,839 39,443 31,617 Working-expenses (exclusive of income-tax and Fire Board contributions) .. .. 58,657 58.232 58,542 Fire Board contributions.. .. .. 10,492 11,365 12,124 Income-tax .. .. .. ..32,288 51,273 66,564 National and Social Security tax .. .. .. .. 19,783 Carried to reserve for unearned premiums .... .. 4,880 170,023 197,514 235,432: Surplus, apportioned as follows :— Written off Office premises .. .. 23,000 28,000 23,000 Reserve Fund .. .. .. .. 577 768 Bonus Rebate Reserve .. .. .. .. .. 10,079 Reinsurance Reserve .. .. ..30,000 20,000 Investments Fluctuation Reserve .. .. 16,000 10,000 -■ 69,577 58,768 33,079> Total .. .. .. 239,600 256,282 268,511 Reserves and funds at 31st December ..1,160,407 1,191,175 1,206,134 Per Cent. Per Cent. Per Cent. Ratio of claims to premium income .. ..15-94 19-19 14-49 Ratio of working-expenses (exclusive of incometax and Fire Board contributions) to premium income .. .. .. .. 30-32 28-33 26-82 Ratio of Fire Board contributions to premium income .. .. .. .. 5-42 5-53 5-55 Ratio of income-tax and National and Social Security tax to premium income 16-68 24-95 39-5&