SOUTH BRITISH INSURANCE COMPANY
. The report of the directors of the South British Insurance company for the year ended August 31, states that the net premium revenue amounted to £612.870 la. 7d., and-after making provision for losses outstanding there was a surplus in the underwriting account of £76,949 135., and the income from interest and • rents totalled £48,083 14s. 10d.. making a total of £125,033 7s.' lOd. This has been dealt with in the following manner:—Reserve fund, £50.000; investment fluctuation fund, £20,000; Auckland leasehold sinking fund, £200; London leasehold sinking fund, i £225; officers' provident and superannuation funds, £4829 3s. 5d.; dividend of 4s. 9d. per share absorbs £47,500, and there remains £2279 4s. 5d., to which has to be added £he amount brought fi'/ward, £51.629 6s. 6d., making a total of £53,908 10s. lid. to be carried to the new account. With the object of reducing the uncalled liability of the shares, the directors have decided to call up £1 per share, and to meet this call the directors now recommend the payment out of reserves of a bonus dividend of £1 per share, payable on December 31, 1917. - The paid-up capital of the comnany will then be £500,000.
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Dominion, Volume 11, Issue 9, 5 October 1917, Page 8
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200SOUTH BRITISH INSURANCE COMPANY Dominion, Volume 11, Issue 9, 5 October 1917, Page 8
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