EMPLOYERS' LIABILITY.
Although the Annual Report of the Employers' Liability Assurance Corporation shows that the final profit surplus was not quite so high as in the preceding year, the figures were not strictly, comparable owing to the incidence of Income Tax, and good progress is indicated in all departments. The dividend has been maintained at 4s. per share, free of tax, but the directors intimate that they propose discontinuing these payments free of Income Tax, and will readjust the future dividends accordingly, is that while the tax remains at 4s. the net amount received by shareholders will not be affected. In the Fire Department there was an increase in premiums, but claims were rather higher, thus making a reduction in the transfer to Profit and Loss. In the Accident Department bcith premium income and claims and expenses showed a small increase, and there was also a small decline in the amount transferred to Profit and Loss. Similarly, in the Ger..?.ral Account the premium income rose from £6,711,042 to £6,860,890, but claims and expenses went up from £6,193,382 to £6,534,348. After making the usual reserve for unexpired risks, Profit and Loss was credited with £272,040, as compared with £241,486 in the previous year. The total Funds of the company at the end of the year stood at £6,235,071, against £6,046,478 at the end of the previous year, including the General Reserve of £2,589,459. Reserves for outstanding claims and other liabilities amounted to £3,996,998.
* * * *
Previous page
