FIRE INSURANCE

Hokitika Guardian, 4 June 1927, Page 2

FIRE INSURANCE

DOMINION FIGURES. WELLINGTON, May 31. In a report on the insurance statistics of the Dominion for 1925, the latest available, the Government Statistician states that the mount of fire insurance cover in force on property in New Zealand on December 31 was £3.17,467,898, represented by {>53,362 policies as compared with £332,959,709 and 631,009 policies at the same date in 1924. The increase in the amount of cover during the live years, 1920 to 1925, was £101.760,518 or nearly 40 per cent. The total amount underwritten during 1925, exclusive of re-insurances accepted was £399,804,032, an increase of £2.849,211 over the 1924 total, while the number of policies increased _ bv 24,734. The total number of fire losses "as 5257 as against 5038 in 1924. The gross losses were £876,358 agaiftsU--£1.046,328 in 1924. The percentage of loss to less refunds, was 46.5 as compared with 59 in 1924. The average loss per fire was £166 14s Id as against £207 13s 9d. The net fire losses suffered by insurance offices totalled £621,410 as compared with £634,072 in 1924 £582,017 in 1923, while the net premium income in those years was £1,363.107, £1,267,216 and £1,283,259 respectively, the percentage of claims to premiums being 45.6, 50.0 and 45, In Auckland urban area the details were:—Fires, 546; buildings affected, 580; gross cover, £1,003,563; gross loss £10,628. Wellington fires, 414; buildings affected 449; gross cover, £850,125; gross loss, £93,011- Christchurch, fires 300, buildings affected, 313 : gross cover, £370,260; gross loss, £28,418. Rest of the Dominion:—Fires, 2521 ; buildings affected, 2715, _gross cover. £2,158,889; gross loss, £005,868. The lower less ratio experienced in the urban areas as compareod with the rest of the Dominion is attributable in a large measure to greater fire brigade facilities.