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Updated: July 23, 2025
" That the operation of the system of convoys had afforded complete security to the trading capital of Bombay, of which the amount insured at this settlement, from May 1st, 1806, to October 31st, 1808, has been 6,700,000l.; that the premium paid by the trade on that sum amounts to 445,000l.; that the losses by captures amount to 61,000l.; that the losses by sea risks extended to 69,000l.; and that the profits to the underwriters amount to the sum of 314,000l.; the losses by captures being under one per cent, on the principal insured, and exceeded by those arising from sea-risks; while the former have occurred beyond the influence, or have been a consequence of a departure from that regular system of convoy, by which the commerce of the western division of the peninsula of India has been so extensively benefited.
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