§ 32. Mr. TINKERasked the Home Secretary the amount of profits made by insurance companies for the year ending 1930, or the latest date he can get, which insure persons under the Workmen's Compensation Acts; and will he state what percentage this is of the premiums paid to them?
§ Mr. CLYNESThe returns made by the companies to the Board of Trade for 1929 show that, leaving out of account the interest and dividends on reserves, the amount available for profits was £519,824 which represents 9.29 per cent. of the premium income. This calculation, however, takes no account of the sums repaid or due to employers by way of rebate under the arrangement with the Accident Offices Association referred to in my reply to a question by my hon. Friend on the 18th of last month.
§ Mr. TINKERIs that an increase on the figure for the previous 12 months or otherwise
§ Mr. CLYNESThe figures which I have given are the result of very great research and, on matters of this kind, I would prefer to have notice.