Dee. 1.
Excitement has been caused at]
Lioyd's by a persistent rumour that the Peninsular and Oriental Steam Navigation Company are shortly going to insure their vessels in the open market. It is understood that the Company have arranged with the Royal Exchange Assurance] Company for this purpose.
The secret of the negotiations, which have been proceeding for some time, has been so well kept that prominent underwriters at Lloyd's have had no precise information regarding the transaction.
The deal is most important, as probably the fleets to be insured will include the P. & 0. the Federal, British India, New Zealand and Union of New Zealand. The P. }0, Company hitherto have insured their vessels by means of a fund evented for that purpose—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.