THE 1.0.A.
A VIGOKOUS, YOUNG INSURANCE COMPANY. NEW ZEALAND BRANCH OPENED Tho business section of this Dominion will bo interested to learn of the establiebment of a New Zealand branch of tho Insurance Office of Australia—a company that has made cxMptiwially healthy progress since its inception in 1910. With a. gross premium income of .£458,000 in its eighth year (an advance o! d 208,000 on the previous twelve R'.onthe), and the low expense ratio of 27 per cent., the 1.0.A. has given evidence of sound jnanagMiont and practical achievement, junking a record that any ofa'co might bo proud of. Although a young company, the Insurance Oiiicu of Australia has won a notable j position amongst the insurance companies! of the world. It has over elevon 1/uiiclred Australian shareholders, the subscribed capital being of which .£124,37? is paid up, while tho reserve is .£15,222. The balance-sheet as at I)e----cember 31, 1913, showed total assets i£213,716, and since then .£41,823 lias been added to the resources of tho Company. A dividend of 10 per cent, is paid to shareholders. Having established a firm position in' Australia—with modern freehold offices in bydiioy, Melbourne, and Brisbane-and representation in London and elsewhere, the directors ttft about extending operations -to other parts of the world, and America and the Hast aro being reconnoitered. Iα pursuance of this policy of expansion, the 1.0.A. has made its advont in New Zealand, with temporary offices in tho Accountants' Chambers, 39 Johnston Street, Wellington. Tho local directors are Mr. James M'lntos'h, F.1.A.N.Z., and Mr. E. W. Carditis (of Messrs. Cardale and Scott). Mr. Frank Hurley is branch manager. Active agents aro wanted, and tho office is prepared to undonvrito all classes of insurance, except lifo. It may be stated that the staff receives generous treatment from tho directors, salaries being on Hip highest basis, and a bonus of 10 per cent, is paid to all members, from managers down. Tho company hae mado arrangements for up-to-dato premises in a central position. Pending alterations tho temporary oflico will bo at 39 Johnston Street, Wellington.—{Published by arrangement.)
A Press Association telegram from Hamilton statee tliat Mr. Massey opened a now (jlnxo factory at Matangi yesterday. Tlio factory will handle tlio largest quantity of milk under one loof in tho world. Tlio building, with omnloyoes' cottages, etc., cost £\O,QQHi, ami tlio machinery illa.OflO. A. Press Association message states (hat Mr. Massoy was at, Hamilton yesterday. Ho will leave for Pukekoho to dav.
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Dominion, Volume 13, Issue 42, 13 November 1919, Page 8
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409THE I.O.A. Dominion, Volume 13, Issue 42, 13 November 1919, Page 8
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