YEAR'S FIRE LOSSES.

Taranaki Daily News, 13 May 1920, Page 10

YEAR'S FIRE LOSSES.

OVER £470,000 IN 1918. INSURANCE STATISTICS. With a view to furnishing official data which might prove of use to offices carrying on lire insurance business in the Dominion in the fixing of premium rates, it was decided during 1919 that the State Census and Statistics Office should proceed with the annual collection and compilation of fire-insurance statistics- The first «et of tables has bow been issued. It is recognised that one year's statistics are of little value in themselves: e.g., the present figures show exceptionally heavy outgo on account of the Waimarino bush firefi, a disaster on a scale which it is hoped will not recur for manv years. To be of any real value a collection of fire-insur-ance statistics continued over a sericß of yeare is essential, and the tables published for the lirst time vfill form the'' nucleus of an investigation which it is hoped will prove not only of interest to the public but of real value to the insurance world itself.

It is interesting to note that during the period covered by the statistics (which is in each case the financial year of the office which corresponds mpst closely to the calendar year 11)18) there were fires affecting '2964 buildings. The total gross losses payable in respect of these were £472,247, representing 30.24 per cent of the total premiums charged, and 0.22 per cent of the total risks covered- The total fire business of all offices operating in New Zealand shows for the year that net working expenses amounted to 35.39 per cent of net premium income and 24.49 per cent of total net income, while gross working expenses', 1 amounted to 28.90 per cent of the total gross premium income. Gross premiums charges amounted to O.fil per cent of the total business underwritten. An analysis of premiums and losses for each of the offices for the financial year is made in the following table:—

Gross Premium obi N.Z. Amount business. of loseAlliance £<•11,834. £10,240 Atlas 34,252 9,175 British Traders' ... 8,590 1,079 Australian Alliance 6,969 2,098 Excess 15,246 1,025 Commercial Union 85,761 32,500 Ragle, Star and British Dominions .. 18,45X5 2,470 Farmers' Co-opera-tive 15,820 12,559 Guardian 44,548 15,771 Mawke's Bay 'Farmers' 294 Liverpool and London and Globe .. 41,946 13,577 London and Lancashire 33,901 14.181 National 02,422 28,042 New Zealand 144,914 54,295 Korth Orithh a'2,128 3,033 Northern • 39,849 20,859 Norwich Unioj, .... 42,099 14,565 Ocean 10,76(5 6,736 Otago Farmers' Union 1,117 40 Phoenix 53,650 13,132 Queensland 2G,&iil 8,401 Royal Exchange — 37,091 12,895 Royal Insurance ..• 62,531 . 10.216 South British 125.944 54.131 Standard 58.108 18.457 State Fire 124,477 37,970 Sim 27,320 9,075 Taranaki. Farmers' 1,927 050 Union Assurance . . 12,800 3,043 Union Insurance 2,872 (Canton) 2,190 United 32.171 30.315 Yicloria 45,522 14,878 Wellington i- 1 leer-;' 2,497 3,198 Yorkshire 17,789 3,829 Total ■■ CI,.WJ'l 0472,240 Shilliu<N and peace omitted.