MARINE INSURANCE LOSSES.

King Country Chronicle, Volume VII, Issue 603, 17 September 1913, Page 3

MARINE INSURANCE LOSSES.

Large as were the amounts :3is nursed by Lloyd's underwriters, in the first half o£ 1912, during which period there wks an unprecedented series of disasters to the great passenger lines which culminated in the sinking of the Titanic, still larger claims, ac cording to the Financial Times became payable during the first half of the current year, the total being semiofficially returned at £3.870,400, or £62,700 more than the corresponding figure twelve months ago. Actually, however, it i 3 believed that the- corresponding total iiiis year is, in round figures, £5,000.000, as against approximately £4,000,000 for the six months ended June 30th, 1912. The month of January. 1913, was an extremely unfortunate one for underwriters, the claims relative to that month having exceeded £1.500,000, or practically three times the corresponding figures in 1912. February also witnessed a great increase in the list of losses at sea. and also of less serious claims, but in March the total was only £IBO,OOO, as against £1,800,000 in 1912, when the month of April the Titanic disaster. During May the unfortunate record of the present year again became accentuated, while June was also an unlucky period. The only factor to be placed against these adverse happenings is the higher premiums which are now being received by underwriters, but these, of course, do little to offset the figures just mentioned. There does not appear to have been any particular reason for the long series of disasters during the current year, for which it is true that from January to March, the entire maritime world was fog-bound, this atite of affairs subsqeuently disappeared, though without affording any relief to the underwriting community or to shipping interests. Unless there is, therefore, a surprising, and, one may add, improbable recovery during the coming sis months, the year 1913 will rank as another one of exceptional misfortunes for Lyold'a members.