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THE NATIONAL INSURANCE COMPANY.

The annual meeting of the shareholders was held in Parley’s Hal! this afternoon. The Chairman (Mr Laruach) remarked that <>f the half-year’s losses, amounting lo L 7,373, the heaviest during the year was L 2.500, Although it was not a very laige loss in oae direction, it was impossible a company like this could do a healthy business unless it made fair losses. The shareholders would agree that set hu apart L 15,000 as a reserve fund was a healthy sign of the prosperity of the compauy. The loss's in the marine department were nothing during the first half year, Vut during the six months just closed they were equal to two-sevenths of the total losses, and were chiefly confined to-Colonial risks, the heaviest loss by one bottom being LSOO. The losses on hulls exceeded the losses on cargo ; and the KuulLh rhks, the heaviest in the department, had all all been run off. A large amount had been given away ?or reinsurances--the general manager, from judicious, he was going to say excessive caution, not de firing to run any risks likely to tell against the future of the company. _ With the growth of the corapany, and its getting a backbone in the[shaps of a reserve fun , the general manager’s idea-- had enlarged, and he intended taking a little more risk on coming business. Therefore unless something very unfortunate happened, shareholders might hope for very much better results at the end of next half-year. The business of the company was most healthy throughout the (Colony ; the company itself stood well, and there was not the slightest doubt that it was ouly a matter of time to stretch its proportions in a manner that must be not only satisfactory bat remunerative to every sh -reholder who maintained an interest in the company. A few questions were asked, and then the report was adopted mnn. con.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/ESD18741110.2.12

Bibliographic details
Ngā taipitopito pukapuka

Evening Star, Issue 3656, 10 November 1874, Page 2

Word count
Tapeke kupu
318

THE NATIONAL INSURANCE COMPANY. Evening Star, Issue 3656, 10 November 1874, Page 2

THE NATIONAL INSURANCE COMPANY. Evening Star, Issue 3656, 10 November 1874, Page 2

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