MOTOR INSURANCE
9.1. UNION’S SCO CESS. (By Telegraph—Per Press Association.) CHRISTCHURCH, Sept. 17. The third annual report of ihe South Island Motor Union Insurance Association discloses a satisfactory result, for the year’s Working. The pwemium income, less returns, refund and reinsurances, amounted to £16,439, as against £10,236 last iyear, while the losses, less i insurance and recoveries, amounted to £3,716 against £2616 last year. The net result of the year’s operations, after making provision for unexpired risks and all other liabilities, shows a surplus of £5,242. The total funds at the end of the year were £20,945. After placing £9,158 to reserve for unexpired risk, and allowing their liabilities, £9128 is transferred to the general reserve. Thp loss ratio during the year was 30 point 7, and the expense ratio 25 point 2. The Directors have decided to give a rebate bonus on all premiums. paid since the inceptions, and to give us a further benefit, a!n increased deduction from premiums for no claim the preceding ycai.
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Hokitika Guardian, 18 September 1929, Page 6
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167MOTOR INSURANCE Hokitika Guardian, 18 September 1929, Page 6
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