STATE FIRE OFFICE.

Hauraki Plains Gazette, Volume XXXIV, Issue 4593, 1 August 1923, Page 2

STATE FIRE OFFICE.

POINTS OF INTEREST. The State Fire Office opened for business in 1905, eighteen vears z ago, with a capital of £2oo'o (long since repaid, with interest). The establishment of the office resulted in rates being reduced by an average of over 20 per cen’., and the t tai saving effected in the' last e ghteen years has amounted in the aggregate tp not less than £3,000,000. The cffice has accumulated funds cf over £350,000; after paying £102,000 in income tax and providing all necessary reserves for unearned premiums and investment fluctuations. All investments are made within the Dominion. The working expenses of the office are extremely low. and compare verv favourably with those of competing offices. For 1921 the ratio was 31.07 per cent., while the Dominion average for all offices was 39.7 per cent., and in 1922 the management was able to reduce the already low ratio by over 2 per cent. The popularity of the State Fira Office with the public may be gauged bv the fac* th”t it, has the support of by far the greatest number of individual policy-holders of afiy fire insurance office doing business in New Zealand, and has in a brief eighteen years secured the second largest income.