19 MAY 1939, Page 48

LIVERPOOL LONDON AND GLOBE

"A distinctly successful year" was the description bestowed upon 1938 by Mr. A. Kentish Barnes, who presided at Wed- nesday's meeting of the Liverpool London and Globe Insur- ance Company owing to the absence of Mr. A. E. Pattinson. He pointed out that, in spite of numerous and complex problems affecting every department, the underwriting profit had only once been exceeded and that loss experienced in the fire and accident departments had again been favourable. As a sidelight on the extent of present-day taxation, he mentioned that of the gross underwriting profits over 40 per cent, is required to meet the demands of the Exchequers of various