Two GOOD INSURANCE REPORTS.
Although, of course, by reason of its wide ramifications, the report of the Royal Insurance Company reflects some of the unfavourable conditions which have affected fire and general insurance business during the past year, the accounts are thoroughly favourable. 'In every department, in fact (Continued on Page 788.)
Financial Notes
(Continued from page 785.) • the balance is on the right side in the Underwriting Accounts, though profits were slightly reduced. From the Fire Account the profit was £281,000 against £402,000, while the total profit from the various departments was £460,000 against £684,000. Both the Fire and Accident Accounts, however, show a strong position, with Reserves approximately equal to the premium income. To the Underwriting profits there has to be added £1,278,000 for interest earnings and £155,789 in the shape of profit on investments realized. The final, result, therefore, after providing for the same dividend as last year, is to increase the undivided balance in Profit and Loss to £1,565,000 as compared with £1,399,000 brought in. In the Life department, • the- new business amounted to £3,853,000 against 13,788,000. Moreover, it is satisfactory to note that the Directors are continuing the interim bonus at 45s. per cent. per annum on policies becoming claims or being surrendered in the current year.
* * *
Previous page