NEW ZEALAND INSURANCE COMPANY.

Waikato Times, Volume XXXIV, Issue 2729, 9 January 1890, Page 2

NEW ZEALAND INSURANCE COMPANY.

(BY TELEGRAPH.— OWS CORRKSPO.N'DENT.) Auckland, Wednesday. Thb annual meeting of the New Zealand Insurance Company was held to-day. The annual report statad that the premium*, after deducting returns and ro-inaunvuces, amouutod to £269,803 10* 31, boiug au increase of £20,447 lGs 4d for the year; and after providing for all the ascertained losses and paying an interim dividend of 2i 6d per share in July last, there remains a Bum of £22,975 13a lid for division, which your directors recommend be appropriated as follows:—Reserve fund, £5000; payment of a dividend at the rate of 12£ per cent, per annum, £1.2,500; balance brought forward, £5475 13s lid. The reserve and reinsurance fund will then amount to £24,000. Your directors have gone carefully over the securities with the auditors, estimating the present value and making reductions where such were deemed necessary. Acting on the suggestion of the auditors, your Board have had certified valuations made of all freehold properties belonging or mortgaged to the company, by experienced experts and the result has been most satisfactory, showing that our investments could be valued at considerably higher amounts than the present valaation standing in the books. The report was adopted, and the directors were re-eleoted.