CHEAP MOTOR CAR INSURANCE.
The group of insurance undertakings of which the Royal Exchange Assurance is the centre is largely interested in motor car insurance, and for this reason the remarks of the Chairman at the annual general court of the parent under- taking carry particular weight. Shareholders were informed that it was only with the exercise of the utmost care that this class of business yields the group a profit, and the general public was warned that the margin of such profit is so small as to eliminate any hope of a reduction in premium rates. The business of the Royal Exchange, of course, touches eery major branch of insurance activity, and the Chairman was able to give shareholders an excellent account of the progress of the undertaking. The total dividend for 1934 was raised by 2 per cent. to 30 per cent., but even so, the payment, amounting to just under £221,000 for the year, was more than covered by the net interest received by the com- pany on investments, leaving the underwriting profits in the business to strengthen a position which is thoroughly sound
Previous page
