Growth Of Southern Pacific

Insurance Co.

FIFTEEN years ago, the Southern Pacific Insurance Co., Ltd., was es tablished in Sydney with a very modest capital provided by W. R.

Carpenter & Co., Ltd. It has grown since then, in a remarkable way.

The 14th annual report, just published, shows that the Co., in 1948-9, had a premium income of £301,515, and made a profit of £lo,432—which is more than 16 per cent, on the subscribed capital.

The Co. now has a General Reserve of £62,500 and a Premium Reserve of £66,622 —both used in the business—and it has £24,800 in cash and £166,500 in “Invest ments” (£101,600 in Commonwealth Loans).