THE NORWICH UNION INSURANCE COMPANY.

Dunstan Times, Issue 886, 11 April 1879, Page 3

THE NORWICH UNION INSURANCE COMPANY.

A good deal is being said just now as to local insurance companies nut paying, and an effort is being made to raise the rates. From the subjoined extract from the Norfolk News, however, it would appear that there is one imnpany, at least, trading in New Zealand that cannot plead this excuse, as it has just declared a dividend of S3 per cent per annum. Probably if some of our local companies were to be more discriminating in the risks they accept, they min'iit find it more profitable to themselves. Certainly the public would be better served, for if all proposals were carefully examined before being accepted, owners of good character would not be compelled to pay high rates for the purpose of covering losses on bad and carelessly accepted risks ; •• The Norwich Union hire Insurance Society held its annual meeting on Tuesday, when a dividend was declared for 1871 at the extraordinary rate of 83 per cent, per annum, viz. L2d per share, L3O paid. It will bo remembered that a similar dividend was paid for 1877. The prosperity of the Norwich Union is cetainly most remarkable, and speaks well for the management. We understand that the amount paid in losses last year was something under L 150.000, or a little more than one-tenth per cent, on the amount insured. We should imagine that the prosperity of fire insurance companies

has been greatly promote! of P.to years by the improved water supply which most of the leading towns of theempi mow possess. In Norwich, for instance, it oust be an extraordinary combination of adverse circumstances which could admit of a conflagration destroying half a parish or half a suburb. Yet the history of the Great Fire of London proves that such a catastrophe was quite possible two centuries since. In the matter of fires we certainly do not sigh for a return of the good old times.”