25 MAY 1934, Page 42


The latest report of the Liverpool and London and Globe Insurance Company is an excellent one. It is true that the premium income in the Underwriting Department was lower, but loss ratios were less, and the net underwriting profits, in- cluding those from the Life Department, amounted to £376,377, against 2162,880 in the previous year. The. Fire account was particularly good, the ratio of proftt excludinginterest, to premiums being 9.42 per cent. against 5.72 per

cent. for the previous year. In the Accident Department the loss for the year was /46,696 against £122,990, and this im- provement is not fully reflected in the reduction of the loss since the last year's figure was arrived at after increasing the reserve for, -Outstanding- claims by £181,785, raising the total Fund to 16,042,022, as against a preniium income of £4,635,431. The Life Department experienced a successful year to complete another quinquennium,and the net newbusi- ness rose to £2,103,806. The new business total in fact repre- sented a record in the history of the Company, and after valuing the liabilities on a stringent basis, the bonus on whole life participating policies has been increased - to the high figure of 45s. per cent. per annum, the rate on endowment assurance being maintained at £2 per cent. per annum.

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