STATE FIRE INSURANCE.
(Special to Times.) WELLINGTON, lust night. The not income of the State Eire Insurance Department for tho year 1906 was £20,962. For tho previous year it was .£13,127. Mr. Brindley, general manager, reports that in his opinion the ihfferonco between the rates now prevailing and those prevailing just prior to the advent- of tho State fire insurance office represents £200,000 per annum. Mr. Brindley adds: “Though tho prevailing rates of premium presumably are highly satisfactory to the insuring public in view of the fact that they were very much below wliat they were prior to the advent of the State fire office, nevertheless tho balance has shown that they are lower than they should be, and this fact has been much impressed upon the private insurance companies whose competition has failed to make the State fire office lose as heavily as they anticipated, although necessarily their action reduced its profit results by some £12,000.” The balance-sheets shows a credit to profit and loss account of £699.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GIST19070710.2.62
Bibliographic details
Gisborne Times, Volume XXV, Issue 2128, 10 July 1907, Page 3
Word Count
169STATE FIRE INSURANCE. Gisborne Times, Volume XXV, Issue 2128, 10 July 1907, Page 3
Using This Item
The Gisborne Herald Company is the copyright owner for the Gisborne Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in