3 MAY 1930, Page 41


The Report of the Royal Exchange Assurance for the past year shows continued progress, and the total premium income (after deducting reassurance premiums) was £895,376, .being , an increase of £54,510 over the previous year. The interest earned' was £440,983, being £5 15s. Id. per cent. on the Life Fund., The total income from .premiums and interest (less tax) amounted to 11,270,155, being an increase of 182,969. The total claims were £489,981 of which claims arising from the death of the life assured accounted for £299,025, which was below the amount expected on the basis of the mortality tables used. The rate of interim bonus has been increased from 40s. per cent. calculated on the sum assured to 40s. per cent, calculated on the sum assured and declared bonuses for every full year's premium paid on or after January 1st, 1930. The Life Assurance Fund now amounts to £8,137,984. In the Fire Department the net premiums amounted to 11,756,189, and a profit for the year of 1113,308 has been transferred to Profit. and Loss Account. In the Marine Department net premiums amounted to £743,507 and losses paid in respect of 1929 and previous years amounted to /610,721. Expenses of management were £89,861. The Marine Fund now stands at £1,001,835,a sum of 1200,000 having been transferred from Profit and Loss. In the General Accident Department a profit of £71,585 has been transferred to Profit and Loss. - The entire assets now stand *at £16,381,789, and the directors are recommending a further dividend of 17 per cent. on the capital, 'making 27 per cent., less tax, for the year.

* * 1 *