Australian Provincial Assurance Association.

Hokitika Guardian, 6 March 1922, Page 1

Australian Provincial Assurance Association.

All item of considerable interest) to the Insurance World and the public generally is the remarkable expansion of the business of the Australian Procincial Assurance Association. It has increased to such an extent that the Directors have found it necessary to purchase for their own use one of the most central buildings in Wellington, known as the National Buildings, situate at the corner of Grey and Feathers ton Streets, for the purpose of their N.Z. Headquarters. The purchase price of the property is approximately £20,000 and the Association will enter into pos- j scission at on early date. 1

The Association is ten years old, and in its ninth year the new business it secured .exceeded 3 million pounds. The financial position oT the Association is exceedingly sound, as its assets exceed I» million pounds, of which £BO,OOO is invested at the present timei in Now Zealand 'securities. This amount of £BO,OOO will he augmented by the deposit) with the Public Trustee of a further £35,000 to meet the requirements of r ecent legislation in regard to Insurance Companies’ deposits, so flint within the next few months, the total assets of the Association in the Dominion will amount to £120,000. The Association is the only Australasian General Insurance Company transacting all classes of insurance—i.e. Life. Fire, "Accident. Marino, Employers’ Liability, etc. The management of the New Zealand business will he in the capable hands of Mr T. AY. Enpley, who has heen with the Association some years, and has attained very considerable success as Manager of the South Island for the Association. He will he assisted in his management hv Mr A. .1, Ilyder, who as had very considerable experience and success in insurance circles throughout the Dominion of New Zen,land for many years.—*