31 MAY 1930, Page 42


The Report of the Phoenix Asaurance Company for -1929 is an excellent one and the Accounts show a strong position. In the Fire Department net premiums amounted to £3,235,202, Claims totalled 52.3 per cent., and expenses (including taxes abroad). amounted to 45.5 per cent.,of the premiums, together absorbing 13,164,394., After adjusting the reserve for unex- ired riSks; £120,808 was transferred-to Profit and Loss. The -funds now amount to £1,295,000. In the Marine Depart- ment net premiums were £707,448, and claims settled in respect of 1929 amounted to £229,107. In the Accident Department' the combined net premiums reached /3,940,664, and claims and expenses (including taxes abroad) amounted to £3,866,636..-: Atter adjusting the reserve for unexpired risks, a sum of £54,927 was transferred to Profit and Loss. In the Life Department the new business was £3,052,248, and the Life funds now amount to 215,452,194. The Profit and Loss Acconfit .shows a sum of £298,010 transferred from the Underwriting Accounts. Interest amounted to £607,983. After, setting-. aside _1554,006 - for dividends payable in 1930, the balance carried forward is £1,600,000.

* * * *