The Express.
London, England, 1863-06-16 00:00:00

HEAL orncia.

Aberdeen 3, Sthi-street.
Dundee

Glasgow
Edinburgh .
London
Extracts from the Report of the Directors, for the year 1862,
submitted to the twenty•seventh general meeting of pro.
prietors and policy-hrs, held at Aberdeen on the 12th
day al June, I.NS....___

• -
VIRE DEPARTMENT.
Revenue sod Ezpeaditare of the Year.
Netpremluma received £127,916 2 7
Losses by lire including all outstanding charne,
commiesion to agents, and charges of manage-
ment applicable to this branch

Surplus
" Your directors would all the attention of the share-
holders to the fact that, notwithstanding a further loss of
revenue, through the discontinuance of the Ameriun busi-
ness, amounting to upwards of 10,0001., the premium' for
1862 show a considerable increase upon the preceding year.
The net premiums for the year 1861 amounted to 116,8541.
18s. 7d.. while, as already shown, that amount is exceeded
in 1862 by upwards of 12,00 W.
"It must, however, be borne in mind that the period
embraoed in the accounts for the year 1861 consisted of
eleven months only, so that the increase is not so great as,
at first sight, it appears ; but under the circumstances above
referred to, the shareholders will probably consider it a very
satisfactory advance.
" Ever since the year 1852, when the company took the
Important step of extending its business beyond the narrow
limits of Scotland and certain districts in Ireland, to which,
until then, it bad been confined, it has been the good for-
tune of your directors to hod themselves, year after year,
in a position to report an amount of progress such as rely
few of the fire offices of this country have achieved at any
period of their history. In the year 1851-2, the whole re-
venue of the company from fire premiums did not amount
to 10,0001. It is now nearly 136,0001., or about thirteen
times the amount at which it stood ten years ago, sod the
company has is that period risen to occupy the seventh
place (in point of income) on the list of the fire of of
the United Kingdom.
" Nor is it only io respect of the magnitude of the COM-
piny's transactions that your directors look back with satis-
faction on the labours of the past ten years. While it is
elnutted on all bands that the business of fire insurance
has, during the greater part of that period, been, on the
whole, unprofitable to the offices, the Northern Company,
notwithstanding occasional heavy loans, has always been
able to show a considerable sum at the credit of Mt reserve
fund. On the 31st January, 1861, this fund stood at
47,1311. 7s. 114., but in consequence of the severe loss which
the company sustained by the great fire which occurred in
London in Juno of that year, the fund was reduced at its
close to 2.1,4901. Bs. sd. After providing for all outstanding
claims the fund will now stand at 55,7841.25. od., a higher
amount than it has reached at any time time the establish.
meet of the company."

LI/I DIPARTILINT.
L Ausuranoes.—New Business.
Number of lives insured during the year:
Participation
Non-participation l6l

Aggregate of smowda insured :
Participation
Non-participation PAM 0 0
P 500,090 0 0

Premiums thereon:
Participstlou
lion-participation 4BlB 13 10
/10,8011 13 9

Revenue and Expenditure of the Year.

800-Participalion Branch :
Premiums ;lean re-inaurancas)
Inter an accumulations....

LUAU IS 0
4.516 15 10

Net receipts
Claims by deaths, surrenders, commission to
agents, sod proportion of general charges 12,171 12 1
Surplus (carried to Accumulated Fund) 811,874 1 9
Psrtlelpation Branch :
Premiums ilea re-insurances) RAMS 0 9
Interest on accumulations

Net receipts 86,80818 8
Claims by death ,tociading bouus additions), sap-
renders, and allowance for management 88,415 Is 8