Towns > Greenock > 1847-1912 - Post-office Greenock directory > 1857-1858

ItBfi BRITISH
FIRE I LIFE INSURANCE COMPANY.
Established in 1809.
Incorporated by Royal Charter and Special Act of Parliament.
CAPITAL, ONE MILLION.
Head Office,— 64, PRINCES STREET, EDINBURGH.
Branch Offices.
London, 4, New Bank Buildings. *
Newcastle, 14, Sandhill.
Liverpool, 1, India Buildings.
Glasgow, 102, St. Vincent Street.
mHE FORTY-SEVENTH ANNUAL MEETING of the
J_ Proprietors of the NORTH BRITISH INSURANCE COM-
PANY was held in the Company's Office in Edinburgh, on the 2d
March, 1857 :
Andrew Coventry, Esq., Advocate, in the Chair.
A Report by the Directors on the Business of the Year ending 31st
December, 1856, was read.
In the LIFE DEPARTMENT, in the course of the year, New
Policies were issued insuring £274,274; and paying in Annual Pre-
miums, £9061 14s. 9d.
Since the extension of the Business to Life Assurance in 1823, the
Company has paid Life Claims to the amount of £1,285,507.
The Accumulated Fund amounted to £664,692 13s. lid. The
Annual Revenue from Life Premiums was £116,846 13s.
The Profits arising from the Life Department do not fall to be
ascertained and allocated until the expiry of the Septennial period,
31st December, 1858; but looking to the past favourable rate of
mortality amongst the assured, and the state of the Life Fund, the
benefit of the Prospective or Interim Bonus of £1 per cent, per
annum, was extended to all Policies that may be effected before 31st
December next.
The Bonus Accumulations at last Division of Profits ranged from 25
to 70 per cent, on the Premiums paid.
In the ANNUITY DEPARTMENT the sum of £12,196 19s. was
received for Annuities granted during the year 1856; and the
Annuity Fund amounted at 31st December to £112,447 12s. 8d.
In the FIRE DEPARTMENT the results of the year's business
were equally satisfactory. After providing for the dividend of
Eight per cent, on the paid-up capital, free of Income-Tax, the sum
of £7099 10s. was carried to the Reserve Fund, increasing it to
£46,994 0s. Id. at 31st December, 1856. A dividend at the rate of
Eight per cent., free of Income-Tax, was accordingly declared, and
made payable on and after the 6th day of April next.
JAMES BORTHWICK, Manager.
Edinburgh, 3d March, 1857.
LIFE ASSURANCE.
The system of the North British Insurance Company combines
the benefit of Mutual Assurance with the safety of a large Protect-
ing Capital, and affords all the facilities and advantages which can
prudently be offered by any Life Assurance Office.
Parties may either assure a precise sum at a low rate of Premium,
or, as in Mutual Assurance Offices, pay a higher rate, and have