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QUEEN INSURANCE COMPANY.
At the Annual Meeting of the Proprietors, held at Liverpool on the 27th October, 1864,
Bernaed Hall, Esq., Chainnan of the Company, in the Chair, the Directors' Report for the
year stated : —
That the Fire Premiums for the Year amounted to £101,085
Being an increase over the preceding year of 30,785
That 352 Life Policies were issued for 205,088
Being an increase over the preceding year of 57,508
That the New Life Premiums were - 6,371
Being an increase over the preceding year of 2,421
That the Life income was 23,531
And that upwards of 60 per cent, of the entire Net Premiums was
added to the Life Fund.
That the Subscribed Capital was increased to 1,876,720
That the Paid-up Capital was increased to 187,672
That after providing for all outstanding claims, the Fire Reserve would
Stand at 114,312
Making the Funds in Hand, after providing for the Dividend - - • 343,413
A Dividend was declared of 2s. per Share, being 10 per Cent, on the paid-up Capital.
The Chairman, in his address to the Shareholders, drew their attention to the following
Unusual advantage afforded among others to Life Assurers by this Company : —
The Outside Expenditure for the General Management of the Company, chargeable to
the Life Department, is absolutely restricted by the Deed of Settlement to Ten
per Cent, of the Net Life Income. This most important restriction shows that the inte-
rests of the participating Policy Holders are closely watched and carefully attended
to by the Company. Attention is especially called to this point, as the proportion of pre-
miums expended for management must largely influence Profits and Bonuses.
The Life Bonus declared in 1863 averaged 46 per Cent, of the Premiums
paid by the assured, and was in some cases as high as 75 per Cent.
FIRS DEpIrTMEINT.
The Rates of Premium are as moderate as those of other first-class Offices.
Farming Stock insured at usual rates, Free of Duty. ' " '
Rent op Buildings insured.
Losses occasioned by Explosion of Gas and Damage by Fire arising from Lightning,
made good.
Liberal Discount allowed on Insurances effected for more than One Year at a time ;
and also on Foreign Insurances, to Merchants and others, acting for parties Abroad.
Policies may be Transferred from other Offices without expense to the Assured.
LOSSES SETTLED WITH PROMPTITUDE AND LIBERALITY.
LIFS DEPIRTMSNT.
PRINCIPAL FEATTIRES.1
Moderate Premiums and Liberal Conditions.
Only a small portion of the Expenses borne by the Life Def>artment,
Bonuses may be applied to the increase of the sum assured, the reduction of the future
Premiums, or may be received in cash.
Fixed Minimum of Sui-render Values after Three Years.
Paid-up Policies issued at any time after Three Years, to avoid loss of Premium.
Special Insurances Payable to Survivors in Business Partnerships. Every variety of Life
Insurance.
Policies Unchallengeable, except on ground of Fraud.
Prompt Settlement of Claims,
Tor Agents in Glasgow, see Body of Directory.
At the Annual Meeting of the Proprietors, held at Liverpool on the 27th October, 1864,
Bernaed Hall, Esq., Chainnan of the Company, in the Chair, the Directors' Report for the
year stated : —
That the Fire Premiums for the Year amounted to £101,085
Being an increase over the preceding year of 30,785
That 352 Life Policies were issued for 205,088
Being an increase over the preceding year of 57,508
That the New Life Premiums were - 6,371
Being an increase over the preceding year of 2,421
That the Life income was 23,531
And that upwards of 60 per cent, of the entire Net Premiums was
added to the Life Fund.
That the Subscribed Capital was increased to 1,876,720
That the Paid-up Capital was increased to 187,672
That after providing for all outstanding claims, the Fire Reserve would
Stand at 114,312
Making the Funds in Hand, after providing for the Dividend - - • 343,413
A Dividend was declared of 2s. per Share, being 10 per Cent, on the paid-up Capital.
The Chairman, in his address to the Shareholders, drew their attention to the following
Unusual advantage afforded among others to Life Assurers by this Company : —
The Outside Expenditure for the General Management of the Company, chargeable to
the Life Department, is absolutely restricted by the Deed of Settlement to Ten
per Cent, of the Net Life Income. This most important restriction shows that the inte-
rests of the participating Policy Holders are closely watched and carefully attended
to by the Company. Attention is especially called to this point, as the proportion of pre-
miums expended for management must largely influence Profits and Bonuses.
The Life Bonus declared in 1863 averaged 46 per Cent, of the Premiums
paid by the assured, and was in some cases as high as 75 per Cent.
FIRS DEpIrTMEINT.
The Rates of Premium are as moderate as those of other first-class Offices.
Farming Stock insured at usual rates, Free of Duty. ' " '
Rent op Buildings insured.
Losses occasioned by Explosion of Gas and Damage by Fire arising from Lightning,
made good.
Liberal Discount allowed on Insurances effected for more than One Year at a time ;
and also on Foreign Insurances, to Merchants and others, acting for parties Abroad.
Policies may be Transferred from other Offices without expense to the Assured.
LOSSES SETTLED WITH PROMPTITUDE AND LIBERALITY.
LIFS DEPIRTMSNT.
PRINCIPAL FEATTIRES.1
Moderate Premiums and Liberal Conditions.
Only a small portion of the Expenses borne by the Life Def>artment,
Bonuses may be applied to the increase of the sum assured, the reduction of the future
Premiums, or may be received in cash.
Fixed Minimum of Sui-render Values after Three Years.
Paid-up Policies issued at any time after Three Years, to avoid loss of Premium.
Special Insurances Payable to Survivors in Business Partnerships. Every variety of Life
Insurance.
Policies Unchallengeable, except on ground of Fraud.
Prompt Settlement of Claims,
Tor Agents in Glasgow, see Body of Directory.
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Scottish Post Office Directories > Towns > Glasgow > Post-Office annual Glasgow directory > 1865-1866 > (12) |
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Permanent URL | https://digital.nls.uk/84371504 |
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Description | Directories of individual Scottish towns and their suburbs. |
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Description | Around 700 Scottish directories published annually by the Post Office or private publishers between 1773 and 1911. Most of Scotland covered, with a focus on Edinburgh, Glasgow, Dundee and Aberdeen. Most volumes include a general directory (A-Z by surname), street directory (A-Z by street) and trade directory (A-Z by trade). |
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