CALEDONIAN INSURANCE.
For the past year the net new life assurance of the Caledonian Insurance Company amounted to 1,344,891, being an increase of 25,686. An amount of £150,000 has been transferred to realized profits on investments to a contingency fund. The company has now decided to make life valuations triennially instead of quinquennially, and the next valuation will be made as at the end of 1980. During the past year the fire premium income declined by £19,497, and the surplus of £44,505 was below that earned in the previous year. The premium income of the accident and general accounts, how- ever, rose by 116,346, and the underwriting results of the year were good. The company is making a further issue of 26,000 shares of £5 each, on which £1 has to be called up, at the price of £14 per share. These will be offered to share- holders on the basis of one share for every five existing shares. With the market price of the shares at about £25, it will be seen that a considerable bonus is involved in the issue.
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