Towns > Glasgow > 1828-1912 - Post-Office annual Glasgow directory > 1857-1858

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The City Article of the London Times, of the 24th July last, states that the
transactions of the Royal Insurance Company " appear to have been of a perfectly
satisfactory character." It includes the following statements confirmatory of that
opinion : —
PREM I UMS.
The Premiums of Nine Offices enumerated are stated to be £824,924
Of which the Royal alone amount to 371,957
being 82 per cent, of the accumulated Premiums of the remaining Eight Com-
panies.
EXPEN DITURE .
The expenditure of Insurance Companies is at present attracting the anxious
attention of the Public. The statement of " The Times" has elicited the following
remarks from a contemporary : — " Here, again, the Royal Insurance Company
occupies a position of honourable pre-eminence : for while its expenses of manage-
ment, spread over a period of three years, have been less than 20 per cent., those of
five other oflices, extending over an equal time — for we omit those which have been
establislied within three years, or we might make a much stronger case — have
varied from 22 to 74 per cent., and in one case have been as high as 111 per cent,
on the receipts.
RESOURCES
In like manner, the entire Funds in hand of thirteen offices is quoted in " The
Times" at jei,238,688, including the Royal, which alone is £372,394, and which
is, therefore, equal to 43 per Cent, of the accumulated funds of the remaining
twelve offices ; or, to make the vast resources of the Company still more manifest,
it may be stated that, putting aside the three largest offices named, (the funds of
the greatest of which barely exceed one half of those of the " Royal,") the united
funds of the remaining ten ofjices do not equal the funds of this Company.
The favourable position in which this Company is placed in " The Times,"
article, would have been even more prominently shown if the experience of other
years than those taken had been selected.
As an instance, the following is the result taken fi-om the accounts of the
Company for the year 1855 : —
Fire Premiums and other Receipts, not including Life. ..£149,812 13 7
Losses, Expenses, and Dividend 131,684 13 8
Balance as a Reserve from one year's transactions alone.., 18,127 19 11
Funds in hand, without including ample Reserve for Life
Liabilities Upwards of £400,000
^P'.
LARGE BONUS DECLARED 1855,
Amounting to £2 per cent, per Annum on the sum assured, being, on
Ages from Twenty to Forty, 80 per cent, on the premium.
PERIODS OF OIVISION-EVERY FIVE YEARS.
The accumulated Expenditure of 54 Life Offices enumerated by TJie Times of
12th August last, compared with their amount of Premium and Interest, is stated
to be 61 per cent.
The Expenditure of the Royal Insurance Company is only ...13 per cent.
PERCY M. DOVE,
Actuazy and Manager.
life?