STANDARD INSURANCE COMPANY.

Gisborne Times, Volume VII, Issue 355, 4 March 1902, Page 2

STANDARD INSURANCE COMPANY.

DIVIDEND OF 74 PER CENT

(Per Press Association.) DUNEDIN, last night. At the annual meeting of. the Standard Insurance Company, Mr J. Reid, Chairman of Directors, in moving the adoption of the report and balancesheet, said tfiat in the early part of the year lire losses were not only numerous bub of such a character as to involve considerable loss, and such a favorable result, was scarcely to be expected. However, the last half of the year was much freer from loss, and of the balance of £14,893 the directors have recommended should he appropriated to the payment of a dividend at the usual rate of 74 per cent, per annum, and to the' payment of a bonus of 24 per cent., which two items will absorb £4687 Ids. They propose also to strenthen the reserve byi £4OOO, which will then stand at £211,001), and to carry forward next year the sum of £6205 10s Hid. After dealing with figures in the balancesheet, the Chairman said : “ Our expense ratio runs out at 50.32 per cent, and includes Government license, taxes, Underwriters’ Association, and Fire Brigades. You will note that full provision lias been made in the accounts for all unpaid and unadjusted losses. There are no other items in the balance-sheet which I think call for any remarks from me. 1 may say that your Board follows tiie very conservative policy which I have indicated in the past. They believe the business of the Company to be on a very sound footing, and regard the outlook for tne future with satisfaction and confidence.

Mr A. Sligo seconded the motion, which was carried.

Messrs Maurice Joll and A. C. Begg, retiring directors, were re-elected.