ATLAS CHAIRMAN ON INSURANCE DIFFICULITES.
Mr. F. A. Johnston, Chairman of the Atlas Assurance Company, by no means overstated the case when, speaking at the annual court of proprietors, he described the company's latest report. as a remarkable one in view of the difficulties of business in 1934. All sections of the company's business showed excellent results, and the balance at profit and loss account enabled the directors to maintain the annual dividend at 8s. per share, equivalent to 32 per cent., free of income tax, further to strengthen the financial position, and to carry forward 1246,479 against £237,732 brought into the accounts. That the management is not content to rest on its laurels, in spite of success achieved, is shown by the early realization of the potentialities of aviation insurance, and the company's resulting participation,, to which Mr. Johnston referred, in the newly formed Aviation and General Insurance Company. The Atlas chairnian dwelt at some length on the difficulties of the past year, resulting from international trade depression, and went on' to diseuss the necessity for sound international
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Financial Notes
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currency conditions as a restorative to world commerce. The dependence of insurance on trade activity is obvious, and a wide expansion of insurance must therefore wait on a general trade revival. Meanwhile, however, sound judge- ment in selecting risks and caution in finance have already given the Atlas a high level of prosperity. • *
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