26 MAY 1939, Page 55


Mr. A. Kentish Barnes did not address the members of the Royal Insurance Company on Monday. He circulated the speech which had been prepared by the chairman, Mr. A. E. Pattinson, shortly before his death last week. It showed, as was to be expected, encouraging progress in the face of diffi- cult conditions. Both the premium income and the under- writing profits of the Accident and General Department have established new records at £6,o3o,000 and £566,000. Results of the company's American casualty business had been par- ticularly encouraging. New Life business has also, the speech showed, been well maintained both at home and abroad. The late Mr. Pattinson had also described the fire-insurance results from the United States as gratifying notwithstanding the somewhat higher losses experienced. He pointed out that a five-year period of abnormally low fire claims in the U.S.A. had reduced premiums to a level lower than at any time in the history of fire insurance in the U.S.A. and that in spite of this difficulty, the results had been well above the average.