COMPANY MEETINGS
THE LICENSES AND GENERAL INSURANCE COMPANY
A YEAR OF PROGRESS
PRESIDING at the forty-ninth ordinary general meeting of The Licenses and General Insurance Company held in London on May loth, the Hon. Reginald Parker (vice-chairman) said that it was satisfactory that, despite the unrest in international affairs, they could point to progress for the period under review and in. totals they had gone beyond the previous year, both as to income and assets.
In the Life Department the number of policies issued during 1938 again exceeded that of 1937 and the Life Fund showed a substantial increase. The evidences of 1939 so far marked a continuance of that progress. In the Fire Account there was an increase of income of practically £8,00o, and he felt confident in stating that a further advance would be seen in the coming year. The Personal Accident Account showed a decided improvement. The Employers' Liability Account had gone forward in income and in profit. The Motor Account showed an increase of income, which was comparable with the increase shown for a number of years.
It was interesting to note that in spite of several years' succes- sive income increase, the number of claims notified during 1938 had actually reduced in volume. They were, therefore, able to view the future reasonably and to express the thought that in the present year of 1939 they might see a fall in ratio—at least that was their hope.
The transfers made from the various revenue accounts brought in a resultant profit and loss balance of £26,184, an equivalent of two years' dividend. The dividend recommended would be the same as that paid for the last 12 years—a record of consistency which must be satisfactory to all. As on all former occasions the dividend payment was within their interest earnings with a margin to spare. There was little more for him to say excepting to register very definitely in their minds the confidence with which the board viewed the future of the company. Despite the fact that the business world had been disturbed, the directors derived encouragement from the results of the opening months of the year, which led them to believe that with any degree of inter- national comfort 1939 should provide additional evidence of sound progress.
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