STATE INSURANCE.
BONUS FOR, POLICYHOLDEDS. WELLINGTON, July 4. Tho not profit of the State Fire Insurance Department last y o ar was £35,697, exceeding that of the previous year by over £IO,OOO. The loss ratio of 28.22. per cent was remarkably low and is regarded as quite abnormal, being hardly .half the normal loss ratio for tho whole Firo Insurance business of the (Dominion. “It would appear from our loss ratio for the past two years that tho war had a marked influence on the destruction of property by fire. J trust this influence may b© permanent,” remarks tho general mana-
gor. In view of the present strong financial position of State fire insurance the board has determined, under the provisions of tho State Fire Insurance Amendment Act, 1912, to grant as early as possible a bonus to policy-holders on premiums paid. Tho sum of £BOOO out. of last yoa’r’s profits has been set aside for this purpose and to cover the costs of making an assessment.
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Bibliographic details
Hokitika Guardian, 6 July 1917, Page 3
Word Count
167STATE INSURANCE. Hokitika Guardian, 6 July 1917, Page 3
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