NORWICH UNION'S FOREIGN INTERESTS
The Norwich Union Life Insurance Society was one of the pioneers of life assurance in the foreign field, but at the meeting on Tuesday Mr. Ernest Hicks had regretfully to announce that it is now the policy of the society to cut down business from certain foreign countries where the spirit of
narrow nationalism has made it extremely difficult for a British Mutual Life office to carry on business. Some years ago the Norwich Union withdrew from Italy, Spain and Eastern Europe, more recently from Holland and Switzerland, so that the only countries outside the Empire with which it now trans-. acts business are France. Belgium and Argentina.
Mr. Hicks also showed that in its present-day investment policy the society is placing nulch reliance on real property investment. Last year they invested no less than L2,000,000 in carefully chosen mortgages, and increased their holdings of real property in London and elsewhere. In their real property purchases they are using the best local advice and are strengthening the personnel of the estates department.
Previous page
