Page 6 Advertisements Column 3

Lyttelton Times, Volume X, Issue 591, 3 July 1858, Page 6

LIVERPOOL AND LONDON FIRE AN LIFE INSURANCE COMPANY. THE twenty-second Annual General Meeting- of the proprietors was held,: pursuant to the provisions of the deed of settlement, on the eleventh day of February,, I*sß in the Company's Offices, 1, Dale-street, Liverpool/when the following report was presented. , !• In the summary of the Company s operations during the past year, evidence will be found ot its continued progress and prosperity. " An amalgamation with the Monarch Assurance Company, which was under discussion at the close of 1856; has been completed, and an important addition has thereby been made to the proprietary, agencies, arid connexions ot the Company. Its permanent funds and,annual revenue have been greatly augmented, and, notwithstanding the comparatively recent date of its establishment, it takes now a first rank amongst insurance institutions. .•: The number of shares issued during the year is 6707; making the total number in the hands of the proprietors 94,211, which, at £2 a share, represent a paid-up capital of £188,422. m ! "Fiee Depabtment.—-The increase in the fire premiums as compared with those of 1856 is £66,971 9s. 10d., and the Board desires to acknowledge the growing confidence, in the Company, which that fact st> strikingly illustrates. In 1856 the premiums were £222,279 10s. 6d.; in 1857 they have amounted to £289,251 Os. 4d. A business of such magnitude brings with it responsibilities for those engaged in its management, but its sources are so various and so many, the area over which it is spread is so extensive, as to encourage a feeling of security in the shareholders that serious disaster is not likely to befal them. The sum required to meet the losses by fire in 1857; was £165,240 7s. 6d. - . ! " Life Depabtment.—The new premiums of 1856 were £12,770 14s. lid.; those of the past year, £16,215 15s. 6d., derived from 761; policies, insuring £502, 025. The total income; from premiums was £101,928 14s. Id., and the: claims amounted to £46,616 12s. lid. These figures show very satisfactorily that, in this* department also, an onward movement has been; made; but there is still to add to them the sum of £26,995 17s. 7d., which has been received in purchase of annuities, amounting to, £2,118 10s. 4d.; there has been paid to annuitants in the course of the year £13,497145. 4d., and eleven annuitants have died, whose annual; claims on the company were £856 Bs-. " Branch Establishments and Agencies. ; —'It has already been intimated that there has: been a considerable accession to the number of the company's agents, and the directors would:, here merely add, that they highly appreciate the very valuable services rendered to the company by the various boards and agencies, 'whose contributions to the general result are so con-; siderable and important. Without seeking to discriminate where all have aided efficiently in placing the office in a position to gain the trust of their respective communities, they would beg to bespeak for the new year, a continuance of exertions which the brisk competition of the day renders so essential to success. ...'.■ " Resebved Surplus Fund.—The premium received on the shares issued is £34,354 Is. lid., which has been carried to the credit of this account, now amounting to £214,616 11s. lid. " Profit ahd Loss.—The result of the year's working is seen in the balance of this account, which proves to be £210,237. Out of this sum the directors have determined to declare, subject to the approval of this meeting, a dividend of twelve shillings per share, free of income-tax. "When that has been paid, there will remain, carried forward as a Re-insurance Fund, the sum of £153,710 Bs. " The following table will show the position of the Company's Funds now, as compared with 1856 :— 1856. Is now. The capital... £175,008 0 0 £188,422 0 0 The reserved fund 150,262 10 0 214,616 11 11 The life fund 339,450 510 531,269 13 10 The fire re-in- , surance fund 125,653 6 5 153,710 8 0 £820,374 2 4 £1,088,018 13 9 Increase 1857. On capital ... £ 13,414 0 0 On reserved fund 34,354 1 11 \ Onlifefund... 191,819 8 0 On fire re-in-surance fund 28,057 1 .7 £267,644 11 6 "The directors cannot conclude their report without expressing their gratification on seeing the proprietors assembled on this occasion in a building of their own. Thoy trust that in style, in finish, in execution, and arrangement, the structure will be found all that can be wished; and that, as an investment, it will be sufficiently remunerative. "JOSEPH C. EWART, Chairman. "Liverpool, February 11th, 1858." THE LIVERPOOL AND LONDON FIRE & LIFE INSURANCE COMPANY Established 1836. EMPOWERED BY ACT OP PARLIAMENT. The amount of capital subscribed exceeds £1,500,000 npHE liability of tlie Proprietors is deJL_ clared by the Company's Act oJ Parliament to be unlimited. Fihe Insurances at seduced rates of premium, varying from 10s. 6d., to £3 per cent according to the degree of risk.