STATE FIRE OFFICE.
! The State Eire Olliee opened for busi- | ness in 1905, eighteen years ago, with a capital of £2,000 (long sinee repaid, with interest). The establishment of the office resulted in rates being- reduced by an average of over 20 per cent., and the total saving effected in | the hist eighteen years has amounted in the aggregate to not less than j £5.000.000. The office lias accumulated funds of over £550,000, 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 .he office are extremely low and compare verv favourably with those ol competing offices. For 192.1 the ratio was 31.07 per cent., while the Dominion average for all offices was 39.7 percent.. and in 1922 the management was able to reduce the already low 11 1 io by over 2 per cent. The popularly of the State Fire Office with the public may be gauged by the fact that, it has the support of by far the greatest number of individual policyholders of any lire insurance office doing business •n New- Zealand, and has in a briet eigli leeu years secured the second larg- 1 est income.
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Bibliographic details
Otaki Mail, 1 August 1923, Page 3
Word Count
207STATE FIRE OFFICE. Otaki Mail, 1 August 1923, Page 3
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