WAR INSURANCE ON SHIPS

Dominion, Volume 12, Issue 171, 14 April 1919, Page 6

WAR INSURANCE ON SHIPS

THE STATE'S PROFIT.

In reply to a question as to whether the operation of tho British Government's war risk scheme for insurance of merchant tonnage had resulted in a profit or loss, and if it was tho intention of his Department to publish a statement showing the financial results o< the scheme, Mr. Bridgeman, Parliamentary Secretary to the Board of Trade, recently stated:— "This particular Government war risks scheme of insuranee has resulted in a profit. The accounts of the various Government war risk insuranco schemes aro not vet closed, but the question of publishing an interim statement showing the approximate results of the schemes is being considered.' The report of the J iverppol Steamship Owners' Association contained the tollowing reference to this subject:In'part the rise in freights in the 12 months ended on July 31, 1918, is to be attributed to increased premiums I>»i« '» respect of war risk insurance, but tho State which took over this msuratico business nl tho • beginning of August, 1917 has made' an', enormous profit on Us operations. From the ! durance effrcied with the Liverpool and London War Risks Insurance Associations, in which ::ii. ; tit one-half in value of all the ocean-going British steamships tonnage is insured, tho profit mado by the State since August, 1917 is commonly reported to have exceeded