H.—6

1942. NEW ZEALAND.

STATE FIRE INSURANCE OFFICE ANNUAL REPORT OF THE GENERAL MANAGER FOR THE YEAR ENDED 31st DECEMBER, 1941.

Presented to both Houses of the General Assembly pursuant to the Provisions of the State Fire Insurance Act, 1908.

State Fire Insurance Office, Wellington, 30th March, 1942. I have the honour to submit the thirty-seventh annual report of the State Fire Insurance Office, for the year ended 31st December, 1941, with the Revenue Account and Balance-sheet. The following are the comparative figures for the last three years:— 1939. 1940. 1941. Income— £ £ £ £ £ £ Premiums .. .. .. ..205,539 218,253 222,458 Other receipts, less land-tax .. .. 50,743 50,258 47,237 256,282 268,511 Outgo — Bonus rebate to policyholders .. . 37,201 41,922 45,587 Claim ? 39,443 3116] 7 28^896 Working-expenses (exclusive of income-tax and Fire Board contributions) .. .. 58,232 58,542 56,128 Fire Board contributions.. .. 11,365 12,124 13'977 Income-tax .. .. .. .. 51,273 66'564 70'476 National and social security tax .. .. .. 19 ,783 15 276 Loss on realization of securities . . . . . . ~ 246 Carried to reserve for unearned premiums .. .. 4,880 2 102 „ , 197,514 235,432 ——232,688 Surplus, apportioned as follows :— Written ofi Office premises .. .. 28,000 23,000 21,000 Reserve Fund .. . .. .. 768 .. 16,'007 Bonus Rebate Reserve . . .... 10 079 Reinsurance Reserve .. .. .. 20,000 Investments Fluctuation Reserve .. 10,000 58,768 33,079 37,007 Total 256,282 268,511 269,695 Reserves and funds at 31st December .. 1,191,175 1,206,134 1,224,244 t, . ~ . . Per Cent - Per Cen t- Per Cent. Ratio of claims to premium income .. .. 19-19 14-49 12-99 Ratio of working-expenses (exclusive of incometax and Fire Board contributions) to premium income _ .. _.. .. .. 2833 26-82 25-23 Ratio of Fire Board contributions to premium income _ .. .. .. .. 5.53 5.55 6 . 2 8 Ratio of income-tax and National and Social Security tax to premium income 24 -95 39 • 56 38 ■ 55 J. H. Jerram, General Manager.