STATE FIRE INSURANCE.
SUCCESSFUL YEAR’S OPERATIONS Last year was the most successful in the history of the State Fire Insurance Office. The gross surplus for the year amounted to £40,610, of which £13,923 had to be paid in income tax on the 1916 profits, leaving a net surplus of £26.688. The assets at the end of 1917 amounted to £208,220, as compared with £16,680 at the end of 1916. The total sum assured was £22,000,000, and the ratio of loss to premium income was 32 per cent. The income tax of the office from all sources in 1917 was £91,380. The premium income was £85,321, and the net losses were £27,302. The ratio of work ing expenses to premium income in 1916 was 27.7, and in 1917 27.5.
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Hokitika Guardian, 4 November 1918, Page 4
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128STATE FIRE INSURANCE. Hokitika Guardian, 4 November 1918, Page 4
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