State Five Office.

Hokitika Guardian, 8 October 1921, Page 4

State Five Office.

RATIO for 1 ddd HOWEST VKT. The annual report ol the State kite Insurance Office, laid oil the table of the House last week, contains the f"! lowing informative statement m rcgaid to lire losses. The lire loss ratio for Ip-JO it will be noted, is the lowest yet recorded in the history “I the elfire : "Whilst, the income was in in'll greater than in Hill), the net losses were rather less, the perontage of loss to premium income being I”.HI per cent only for lilJO and J3,GI for RMth The only for I9JO and 33.01 for HMD. The loss ratio for lDi’O is the lowest, experienced since the inception of the office, tin’ rising value of storks, plants and buildings,' and the difficulty In replacing such appeared to have caused greater vigilance in lire prevention hy the people generally than was the ease under normal conditions and the business ol tliv last two or three years has proved exceptionally profitable Already there is ample evidence that such good results are not likely to eoiitinie 'the history of tire insurance shows that very considerable tl net mil ions under well-known conditions are by no means uncommon. To show how great tin's,, fluctuations are, | may point out that the average !os s ratio for Ihe live years ending IPM was 17.ST per cent and for live years ending 1920 Jo.SI per cent., a reduction of over JJ per cent. The working-expense ratio shows an increase of 1.33 per is'iit.. dui' entirely to he cost of living bonus granted to the staff of this ollie,' in common with other public servants The gross surplus of T 7.7.33 d IPs oil for the year is allocated as follows; .Unearned premium reserve £9.709 I Is (id. investment' II netu - atioii reserve, (.'.'looo. income tax 110.nG7 .'ls, leaving a net profit of (.'l7. KlO Is lid. The assets of the office at the close of the year amounted to £3 18.390 3s 9(1. as compared with C2BS 3IP 1o - .'id for 1019. The sum invested at the close of 1020 stood at £207.732 10s Id, as against LJ33.371 Ss Id for 1019.”