THE ZEALAND INSURANCE COMPANY.

Hawke's Bay Times, Volume II, Issue 56, 24 July 1862, Page 5 (Supplement)

T HE ZEALAND INSURANCE COMPANY.

The general meeting of the shareholders of this Company was held in the Company’s office on the Ist instant, for the purpose of receiving the report of the half year, ending 31st of May, and for the appointment of Auditors. The meeting was well attended, and was presided over by the Chairman, Thos. Henderson, Esq. EEPOET. The directors of the Xcw Zealand Insurance Company have again the pleasure of submitting their halfyearly report for the approval and adoption of the shareholders. The total amount at risk as far as can be ascertained is £403,633 14s. Od., and the total receipts from jn'emiums for the half-year have been £8,806 375. lid; the losses during that period have been unusually light, and the financial statement exhibits a net profit on the Company’s operations to the 31st May, of £7,491 16s. §d. Your directors recommend that a dividend be declared at the rate of ten per cent, per annum, on the paid-up capital of the Company, leaving a sum of £6,910 Bs. sd. to be carried to the credit of a reserve fund, such dividend to bo payable at the Company’s office on Monday, the 7th instant. The shareholders admitted under the new Heed of Settlement, although not receiving any immediate benefit from the declaration of this dividend wdl nevertheless participate in the future advantage of the reserve fund, which itself forms a very considerable bonus. The accompanying table will give at a glance the progressive increase of the Company’s new assvr-

ances. And while it is indicative of the growing confidence of the public in the New Zealand Insurance Company, manifests at the same time a laudiblo and patriotic desire to support an institution conducted entirely by. residents in the colony, which, instead of withdrawing its capital for transmission to England or elsewhere, retains it, investing at moderate interest its surplus funds in colonial securities, and thereby materially promoting the advancement and prosperity of the country from which it derives its support. The directors would refer with much satisfaction to the fact that the fourteen agencies recently established are now in full operation ; and, that their efforts to extend the business of the Company have been ably seconded by the activity and interest manifested by the agents, the results now placed before the shareholders amply prove. The directors would take this opportunity of impressing upon the share and policy holders how desirable it is that each in his own sphere should use every opportunity to extend the interests and business of the Company, bearing in mind that whatever directly benefits the institution must indirectly benefit more or less every individual member of it. In concludiug their report, the directors would assure the shareholders that the unprecedented success which has attended the Company’s operations during the past half-year, will servo only to induce them to exercise increased caution, rather than to take indiscriminately every risk that may be offered to them. Thomas Hendeeson, Chairman.