COMPANY MEETING
THE LONDON ASSURANCE
THE annual general court of The London Assurance will be held on May loth at the head office, t King William Street, London, E.C. Mr. R. Olaf Hambro has stated: The net new life business for 1941 totalled £1,143,538. Premium income during the year amounted to £842,607, and the fund as at the end of the year at £11,318,486 shows an increase of £350,093. The gross interest yield at £4 5s. per cent. shows a reduc- tion of as. 6d.1 and the net at £3 3s. 9d. per cent. a reduction of 3s. The premium mcome of the fire department at £2,445,928 represents an increase of £237,977. The accident department premium income shows an increase of £54,027, calling for additional reserve, similarly as in the fire department, the amount in this case being £21,610. The amount transferred to profit and loss account is £215,015, representing 15.5 per cent. of the premium income. Premium income shows a continuing advance, the increase this year being £204,787, the total premium income being £1,463,853. The profit and loss account shows interest, dividends, and rents less income-tax, at £208,690, and this compares with the dividends paid to ordinary and preference shareholders of £181,416, showing a favourable balance of £27,274.
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