MARINE INSURANCE DIFFICULTIES.
Dealing with the accounts of the Eagle, Star and British Dominions Insurance Company at the meeting on Tuesday last, Sir Edward- Mountain, - the Chairman, discussed the unsatisfactory position at present prevailing in the marine insurance market, expressing the view, which will find wide acceptance, that hull underwriters can only expect to make considerable losses as a result of recent rate, reductions. The Eagle Star has wisely reduced its commitments in this direction, and has been underwriting on the most conservative lines in the cargo insurance market, where competition has continued very keen. Meanwhile, the marine account of the Eagle Star is in excellent shape, with a total of 147.4 per cent. of premium income, a sum, as Sir Edward remarked, largely in excess of the amount required to wind up. Marine business, of course, represents only a small part of the company's wide activities, and in other directions the company has fully maintained its advance, and paid an increased dividend for 1934. The Chairman informed shareholders that the com- pany's business is beginning to feel the effects of general pros- perity in this country, and ended his address on a note of hope for the future which, he indicated, was confinned by the progress achieved in the current year to date.
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