Iceland 1930

Bibliographic data

Monograph

Identifikator:: 1830571079

URN:: urn:nbn:de:zbw-retromon-221162

Document type:: Monograph

Title:: Iceland 1930

Edition:: 2. ed.

Place of publication:: Reykjavík

Publisher:: Ríkisprentsmiđjan Gutenberg

Year of publication:: 1930

Scope:: 193 S.; Tab., Kt., Taf.

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Financial institutions

Collection:: Economics Books

35 In 1918 was formed Sjévitrpggingarfélag Islands (The Icelandic Maritime Insurance Company). This is a joint-stock company, insuring against any maritime perils, and since 1925 it has also transacted fire insurance business as well. In 1928 the takings of the company in the form of premiums for these insurances were 480 218 krénur and 146 290 krénur respectively. Samtrygging islenzkra botnvérpunga (The Icelandic Steam Trawlers Mutual Insurance Association) was formed in 1923. It is a mutual company, which insures steam trawlers and other steam ships engaged in the fishing trade. In 1929 its premiums amounted to 528 000 krénur. Fire Insurance. Brunabdtafélag [stands (The Icelandic Fire Insu- rance Company) was established by an act of Althingi of 1915. It is a mutual company, backed by the treasury fo an amount not exceeding 800 000 krénur, and undertakes the insurance of houses in towns (except Reykjavik) and villages of 300 inhabitants and upwards, where insurance upon houses is compulsory. The company may also extend its business to include movable property as well. The insurances taken during the year ending in 1929 amounted to 43 million krénur, and the premiums to 266759 krénur. Under an act of Althingi of 1905, 50 (out of some 200) parishes have formed small fire insurance societies. A Common Fire In- demnity Fund for Rural Farms, managed by the board of directors of the Icelandic Fire Insurance Company, reinsures for the parish so- cieties. As regards Reykjavik, fire insurance on houses has been compulsory since 1874. According to a contractual arrangement all houses in Reykjavik are insured with a foreign fire insurance company. This in- surance for the year ending in 1929 aggregated 75.8 million krénur, while the premiums taken were 170 000 krénur. Life Assurance. There is in Iceland no native company or in- stitution, which transacts general life assurance business; but two Funds have heen established to provide pensions to cfficials employed in public service. In 1919, when an amendment to the act respecting salaries to civil servants was passed by Althingi, the right to pensions from the State was abolished. But at the same time the Civil Service Pension Fund was formed, to which the State made a grant of 50 thousand krénur once for all. Every civil servant must pay to this fund 700 of his annual salary to provide a pension for himself on re- liring and assure the same advantage to his widow. The Fund is ad- ministered by the government which is answerable for the payment of

Access restriction

Copyright

fullscreen: Iceland 1930

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation