ROYAL INSURANCE COMPANY, LTD.
IN a statement 'circulated with the 96th annual report of the Royal Insurance Company, Limited, the Chairman, Mr. A. Kentish Barnes, indicated that fire premiums totalled £5,546,224, and losses £2,588.663, or 46.7 per cent. Underwriting profit was £256,396 or 4.6 per cent. Home fire premiums provided a moderate advance but losses were substantially higher. United States business showed expansion.
Accident and general premiums, at £5,970,064, were slightly re- duced Losses were £2,895,535, or 48.5 per cent. Underwriting profit, £508,036 (8.5 per cent.), was nearly the same as last year.
The 1939 marine account closed with £88,195 profit.
Total underwriting profits (including £46,000, shareholders' pro- portion of life profits) were £898,627.
Net new life business' completed was £2,981,000.
Interest income showed a shrinkage of k153,000. £2,133,00o was carried forward, approximately L130,000 higher than the amount brought in.