STANDARD INSURANCE CO.

Taranaki Daily News, Volume XLVIII, Issue 81918, 5 March 1907, Page 2

STANDARD INSURANCE CO.

Per Press Association. Buuedin, Morch -1. The Hon. Thos. Fergus, who presided at the annual meeting of f he .Standard Insurance (Jo. said the proli ton underwriting was £5014, whV' \\:<; n small return for the business. ;,,. L

years as well as fat ones must be expected. Unavoidable circumstances had contributed to keep clown the and 110 part of tile prolit was dqrtwd fiom iihe /J\ow ;/Lja/laivil sec-* tion of the. lire business, which had resulted in an nclual loss. He said there was 110 doubt the year's lire business in the colony had left a coiiiderahle shortage to nil companies pursuing a policy of safely. The directors have adiled .CfiOOO to. 'Hie reserve fund, bringing it up to .CaO.OOO, and re insurance reserve to .125 000, or a total at reserve eipial to the. paid-up capital. The directors believed it was a sound policy whenever possible to strengthen tlie re-ervi'-.. ami 'this tliey were dftterniiiv.l to continue. They had paid an interim dividend, and after providing for all likely contingencies, now recommend a dividend at Ibe rule 7'/, per cent. with a bonus ,>f Ji,;,, 10 per cent for Ihc year, an 1 to ciirnr forward £7IBB.

l.aler. At the lneeling o l ' si:iixlitrd Insurance Cn., (he' Hon. .1. I!. ('.it'an, in recoil line Ihe inolinn I'ur I lie ail e>t : 01l of Ibe report anil balance sheet. si id one point which was a matler of regret was that, nndif/wri'ling i ; n iNeu' 7e-|l;n„l for tin- year ''Mil not be >il a success, but. as the ( iia rnian !i:hl said, tlie)- h-.td to take le.m year- will fat n-ies. This Veil' lia u'lde'sl "O'l lrul been a singularly unfortunate o:i:- 'ii reLriir Ito iires in N'ew Zealand. In connection will) ihat il was an imporlant. thing, and lie agreed with tli" director". tliat tlie reserve fund should be increase:!. It was a wise pu.icy. II was -at'.-faetioi'.v to se<{ lh.it til/ 1 investments were good ones. Tin' motion was carried, and the retiring directors, Messrs John Mill mid \V. V. EJuiond were re-clccted.

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