14 MAY 1927, Page 47


two points which very clearly emerge from the annual Report of the Liverpool and London and Globe In- surance Company. The first is that the conipa,ny has evidently

ysuffered from special and exceptional claims during the past ar-IProbably arising from the tornado risks in America,

where the company, of course, has a very large business ; and the other is that the company now benefits from the sound and conservative management of past years. Notwith- standing the fact that . for the reasons indicated there has been a general setback in profits from Fire, Accident and Marine, the dividend is maintained, while the resources of the company are so large that it might be said that the net result of the year's business is merely that the surplus remaining to swell the resources of the company, after paying the dividend,