The heavy fall in values of commodities and the shrinkage in the- movement' of trade, especially in the United States have left their mark on the premium. income of most of our great Insurance companies, and the Royal Insurance Company has not escaped the effects of this tendency entirely, though at the meeting of the company this week Mr. A. Allan Paton was able to give the satisfactory information to shareholders that despite the unprecedented underwriting difficulties their Fire and Accident profits in the Home and General Foreign field were actually greater for 1932 than in any of the three preceding years. Hence the excellent underwriting results in view of the conditions. The Roral's Life figures also show up very satisfactorily, with new business of over S.3,700.000 and an increase in the Life Funds of more thari 11,300,000. The company has also experienced a big demand for annuities, from the sale of which it received nearly £500,000 last year.
The reports recently issued by some of the more important Oil companies must, on the whole, be regarded as satisfactory. , In 'the case of- the Venezuelan -Oil Concessions' the 'statement recently issued showed that the net revenue of nearly £916,10 (Continued on page vi.)
(Continued from page 820.) revealed an increase of over 31 per cent. No information is given in the report with regard to the price realized for the sales of oil, but these sales are made, under a special contract, to the Royal Dutch-Shell group. The gross income for the year, however, of /3,085,000 compares with £2,937,000 in the previous year, and after paying a dividend for the year of 12/ per cent. against 10 per cent., the carry forward is £171,725 against 1155,485 ,while the balance-sheet is a strong one.