WORLD AUXILIARY INSURANCE.
Although the meeting of the World Auxiliary Insurance Corporation was the sixteenth annual gathering, the company must still be counted among the relatively new entrants in the insurance field. This in itself justifies the action taken by the directors in relation to finance and commented upon at the meeting by the Chairman, Captain the Rt. Hon. C. C. Craig. The board believes that a large proportion of the profits should be devoted to further strengthening reserves, and the strong position of the company's funds, with the high reputation which the undertaking already enjoys, show the wisdom of putting financial soundness before the payment of a high rate of dividend. It is, after all, on these lines that the great (Continued on page 757.)
Financial Notes
(Continued from page 754.) institutions among the older insurance companies have been built up, and although the Chairman of the World. Auxiliary expressed 'regret at the meeting that rio higher 'rate of dividend could be paid for 1934 than 7} per cent. tax free, this is by no means a meagre return for a company which, in its relatively early stages, is maintaining its financial stability as the first requirement of insurance policy.
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