NORTH BRITISH AND MERCANTILE INSURANCE
After a year of great difficulties the North British and Mercantile Insurance Company ended its year with figures which must have been gratifying to the members. Lord Wakefield of Hythe, reviewing the results at last week's nr...t- ing, found many grounds for satisfaction in them. The appreciation in the market value of the investments over balance-sheet values, while smaller than in 1937, is still substantial.; the profit on the fire account amounts to ral per cent. of premiums and is very slightly less in amount than the 1937 figure ; the Railway Passengers Assurance Company, through which the parent company transacts its casualty business, showed a profit percentage of 12.2 against 10.62.
But Lord Wakefield also found three points in the insurance outlook for adverse comment. The high scale of motor- insurance claims and the unsatisfactory condition of the marine market, particularly in the cargo section, have been mentioned by several chairmen. A third point which Lord Wakefield brought out was that political crises tend to deter people from entering into life-insurance contracts. This, as he pointed
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FINANCIAL NOTES
(Continued from page 832) out, is remarkable, since contracts effected in time of peace give cover on terms which can hardly be expected in war time. The society's life policies, for instance, are free from all restrictions as to residence, travel and occupation.
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