Aggregates (28 companies) $367,754,461 $4,888,731,375 $1,465,590,794

$6,354,322,169 $3,094,452,575 $1,794,278,800 $2,453,243,031 $2,085,488,570

106.0

-1

Payments to policyholders exceed premiums received.

Exclusive of accident department liabilities. † Being the ratio of payments to policyholders, plus the increase of assets to premium receipts for the thirty years.

AVERAGES.

COMPANIES.

1887 1888 1889 1890

1891 1892 1893 1894 1895 1896 1897 1898 1899 1900 1901 1902 1903 1904 1905 1906

AVERAGES.

THE EXPENSE RATE PER CENT OF MEAN INSURANCE IN FORCE OF TWENTY-SIX LIFE
INSURANCE COMPANIES FROM 1887 TO 1906, INCLUSIVE.

COMPANIES.

1887 1888 1889 1890 1891 1892 1893 1894 1895 1896 1897 1898 1899 1900 1901 1902 1903 1904 1905 1906

Ætna Life.
Berkshire..
Connecticut General.
Connecticut Mutual..
Equitable, New York...

Michigan Mutual..

Mutual of New York....
Mutual Benefit.

National of Vermont..

0.90 0.86 0.81 0.86 0.85 0.85 0.86 0.68 0.71 0.76 0.77 0.78 0.85 0.96 0.88 0.89 0.87 0.92 0.90 0.87 0.74 0.73 0.85 0.89 0.82
095 0.92 0.99 0.93 0.91 0.91 0.87 0.88 0.92 0.87 0.83 0.85 0.85 0.87 0.83 0.81 0.80 0.79 0.78 0.81 0.93 0.89 0.85 0.79 0.85
1.09 1.05 1.07 1.09 1.07 1.12 1.04 0.91 0.90 0.90 0.97 0.94 1.03 0.99 0.96 1.10 0.99 1.04 1.10 0.99 0.93 0.92 0.98 1.04 0.98
0.66 0.63 0.71 0.67 0.69 0.70 0.68 0.69 0.70 0.74 0.76 0.78 0.83 0.86 0.85 0.84 0.85 0.83 0.82 0.85 0.67 0.70 0.82 0.84 0.76
0.91 0.96 1.02 1.09 1.07 0.92 0.86 0.86 0.88 0.88 0.91 0.90 0.99 0.95 0.97 1.03 1.07 1.02 0.93 0.78 1.02 0.88 0.95 0.96 0.95
0.90 1.02 1.10 1.03 1.10 1.20 1.12 1.07 0.92 0.98 1.03 1.07 1.18 1.12 1.15 1.24 1.32 1.32 1.26 1.22 Ι.ΟΙ I.II 1.12 1.27 1.15
1.15 1.08 1.15 1.09 1.15 1.28 1.67 1.45 1.41 1.26 1.22 1.19 1.24 1.32 1.26 1.33 1.30 1.24 1.19 1.30 1.06 1.38 1.25 1.27 1.26
1.20 1.28 1.44 1.26 1.17 1.12 1.23 1.16 1.23 1.12 1.10 1.14 1.22 1.23 1.34 1.41 1.45 1.39 1.43 1 38 1.22 1.16 1.22 1.41 1.26
0.97 Ι.ΟΙ 1.00 1.08 1.01 1.08 0.96 0.94 0.91 0.86 0.84 0.91 0.84 0.82 0.89 0.80 0.76 0.76 0.74 0.68 1.02 0.94 0.83 0.75 0.84
1.16 0.99
1.06 1.10 1.13 1.25 1.03 0.98 0.99 1.05 1.12 1.17 1.18 1.21 1.24 1.24 1.10 1.14 1.22 1.07 1.09 1.06 1.20 1.15 1.13
0.89 1.09 1.23 1.20 1.07 1.03 1.23 1.18 1.20 1.13 1.09 1.10 1.21 1.19 1.16 1.16 1.15 1.11 0.98 0.70 1.11 1.14 1.15 1.01 1.09
0.62 0.62 0.68 0.69 0.69 0.73 0.69 0.68 0.70 0.68 0.71 0.75 0.79 0.78 0.77 0.80 0.79 0.79 0.79 0.76 0.66 0.69 0.75 0.78 0.74
1.00 1.13 1.23 1.20 1.22 1.09 1.02 1.03 1.22 1.02 0.99 1.06 1.17 1.12 1.09 1.07 1.09 1.08 1.06 0.98 1.18 1.08 1.09 1.05 1.08
0.66 0.72 0.72 0.70 0.68 0.70 0.64 0.64 0.69 0.73 0.81 0.83 0.75 0.77 0.81 0.86 0.90 0.87 0.89 0.80 0.68 0.68 0.79 0.86 0.77
1.29 1.13 1.26 1.25 1.15 1.16 1.13 1.06 1.00 0.97 0.99 0.99 1.05 1.08 1 02 I.II 1.10 1.06 0.92 0.69 1.21 1.07 1.03 0.96 I OI
0.88 0.91 0.92 0.93 0.87 0.87 0.71 0.68 0.73 0.73 0.74 0.79 0.89 0.87 0.81 0.79 0.75 0.75 0.75 0.72 0 90 0.73 0.82 0.75 0.78
0.94 0.94 1.05 0.99 1.00 1.05 0.87 0.79 0.81 0.84 0.95 0.99 0.97 1.09 1.04 1.04 091 0.95 0.94 0.87 0.99 0.87 1.02 0.94 0.95
1.15 0.94 0.90 0.99 1.34 1.44 1.43 1.47 1.40 1.29 1.28 1.34 1.43 1.31 1.12 1.07 1.06 1.04 1.09 1.24 I 02 1.40 1.29 1.11 1.20
0.77 0.78 0.79 0.73 0.69 0.76 0.69 0.65 0.71 0.70 0.73 0.72 0 70 0.75 0.73 0.77 0.90 0.75 0.78 0.71 0.75 0.69 0.73 078 0.74
....0.54 0.44 0.66 0.54 0.58 0.62 0.68 0.69 0.75 0.78 1.01 1.09 1.30 1.19 1.19 1.41 1.56 1.55 1.64 1.41 0.56 0.70 1.16 1.51 1.06
0.87 0.87 0.89 0.97 0.96 0.98 0.84 0.86 0.90 0.86 0.93 0.88 0.89 0.92 0.94
0.70 0.67 0.69 0.68 0.91 0.90 0.82 0.80 0.74 0.69 0.72 0.74 0.82 0.85 0.82
1.97 1.79 1.77 1.57 1.38 1.26 1.21 I.II 1.12 1.08 1.05 1.09 1.03 0.98 0.91

Averages (26 cos.)..

0.89 0.90 0.88 0.86 0.75 0.91 0.89 0.91 0.85 0.88 0.77 0.76 0.79 0.82 0.81 0.70 0.73 0.79 0.79 0.77 0.910 84 0.87 0.86 0.87 1.62 1.14 1.00 0.87 1.02 1.13 1.16 1.09 1.15 1.18 1.23 1.23 1.20 1.19 1.19 1.23 1.39 1.31 1.29 1.28 1.25 1.30 1.34 1.20 1.24 1.14 1.21 1.28 1.27 1.24 1.55 1.40 1.33 1.28 1.24 1.18 1.12 1.04 1.02 1.09 1.11 1.15 1.24 1.29 1.31 1.46 1.27 1.18 1.09 0.88 1.23 1.06 1.22 1.19 1.17 1.07 1.27 1.28 1.21 1.14 1 16 1.07 1.03 1.02 1.12 1.17 1.40 1.61 1.71 1.71 1.80 1.74 1.70 1.40 1.23 1.17 1.06 1.53 1.57 1.34

0.93 0.96 1.04 1.04 1.01 0.97

0.96 0.93 0.94 0.93 0.94 0.96 1.03 1.03 1.00 1.03 1.03 1.01 0.93 0.78 1.00 0.95 0.99 0.95 0.96

PER CENT TO MEAN POLICIES IN FORCE OF TERMINATIONS BY SURRENDER FOR TWENTY-
NINE LIFE INSURANCE COMPANIES FROM 1887 to 1906, INCLUSIVE.

NAMES OF
COMPANIES.

1887 1888 1889 1890 1891 1892 1893 1894 1895 1896 1897 1898 1899 1900 1901 1902 1903 1904

Etna Life..
Berkshire

Germania

Home Life.

John Hancock.
Manhattan.....

Michigan Mutual.
Mutual Benefit..

0.99
1.53

1.20

0.88
1.58

1.39

1.14

1.72

1.72

1.67

1.53

1.03

2.42

1.33 1.29 1.38 1.44 1.41 1.84 1.78 1.69 1.65 1.70 1.57 1.31 1.03 1.02 0.87 0.87
1.68 1.90 2.07 1.74 3.64 3.02 2.84 3.59 3.69 3 04 2.83 2.60 2.16 1.86 2.06 1.67
Connecticut General.. 0.81 1.18 1.25 0.91 0.91 1.25 1.36 1.84 2.27 2.41 4.03 3.45 2.80 1.78 1.67 1.60
Connecticut Mutual... 1.16 0.95 0.91 0.80 0.90 0.76 0.90 1.01 1.05 1.19 0.94 1.23 0.97 0.93 0.94 0.91
Equitable
1.68 1.88 1.88 1.95 2.42 2.36 2.93 3.70 3.87 3.84 3.40 2.98 2.17 1.76 1.64 1.67
1.51 1.28 1.28 1.36 1.64 1.83 1.70 2.21 2 34 2.42 2.24 2.06 1.56 1.70 1.59 1.43
6.16 5.74 3.91 4.75 4.88 3.82 4.93 4.90 3.74 3.39 3.04 2.98 1.97 1.91 1.43 1.18
1.87 2.96 3.61 2.65 3.02 2.47 2.87 3.03 3.38 3.19 3.66 3.05 2.41 2.13 2.15 1.87
0.87 0.93 1.33 1.45 1.72 1.52 1.60 1.31 1.23 1.73 1.35 1.20 1.78 1.47 1.48 1.53
Massachusetts Mutual 2.47 3.17 2.64 3.05 3.25 2.62 2.81 4.16 3.06 3.02 3.58 3.05 2.40 2.04 2.16 2.00
Metropolitan.
3.57 3.22 3.02 2.30 1.86 1.66 6.80 2.70 1.32 1.44 1.76 1.55 1.36 2.06 1.66 1.08
3.42 2.96 5.19 2.99 2.26 2.23 2.28 2.98 3.41 3.70 5.48 4.25 2.52 1.73 1.32 1.08
2.71 2.81 2.88 2.64 3.13 2.96 3.67 4.15 3.77 3.82 4.04 3.63 2.81 2.71 2.66 1.60
1.61 1.60 1.44 1.70 2.04 2.30 2.67 3.19 3.70 3.80 3.80 1.25 2.22 0.68 0.72 0.85
6.37 5.70 4.46 4.45 4.83 3.68 4.02 5 61 4.98 3.99 4.16 3.95 3 12 2.70 2.34
2.01 1.71 1.78 2.15 2.76 2.47 2.88 3.56 2.59 2.89 2.92 2.43 2.27 2.00 1.81 1.65
1.38 1.58 1.72 1.83 2.38 2.22 1.64 2.02 1.92 1.80 1.44 1.21 1.11 0.96 0.98 1.21
0.67 0.77 0.87 o 80 0.79 0.79 1.44 2.09 2 07 1.94 1.73 1.32 1.05 0.97 1.19 1.10
2.74 1.66 2.18 2.00 2.16 2.77 3.28 4.22 4.07 3.47 3.82 2.58 2.06 1.30 0.95 0.84
1.61 2.26 1.32 1.48 1.87 1.57 1.80 2.84 2.81 3.16 2.73 2.12 1.74 1.55 1.45 1.33
1.03 0.86 1.18 1.08 0.57 0.44 0.58 1.12 1.18 1.59 2.61 1.62 1.48 1.34 1.46 1.54
1.50 1.44 1.42 1.69 2.24 1.59 1.97 2.35 1.88 1.84 1.78 1.74 1.48 1.32 1.19 1.18
0.12 0.13 0.13 0.09 0.19 0.04 0.12 0.28 3.89 0.95 0.56 0.47 0 24 0.32 0.85 0.85 0.78
2.14 2.31 2.55 3.15 3.48 3.14 3.94 4.32 3.51 3.60 3.47 3.50 2.66 2.43 1.99 2.03
0.86 0.84 0.85 0.85 1.02 0.96 1.12 1.39 1.54 1.60 1.89 1.62 1.21 0.93 0.92 0.90

Mutual of New York.

National of Vermont..

New England..
New York......
Northwestern..

Pacific Mutual..
Penn Mutual...

Phoenix Mutual..

Provident L. & T.....
Provident Savings....
State Mutual.
Travelers

Union Central..

Union Mutual..

United States

..... ...

2.08

0.79 0.88 0.93 1.01 1.06 0.85 0.82 0.95 1.08 0.96 0.77 0.68 0.58 0.59 0.59 0.44
0.50 0.31 0.32 0.47 0.40 0.48 1.06 0 89 1.06 1.14 0.88 1.07 1.02 0.91 0.85 0.73
0.86 0.45 0.72 0.50 0.51 0.83 0.95 1.01 1.II 1.19 1.42 1.71 1.46 1.10 1.20 2.34
2.63 2.47 2.34 2.55 2.67 3.25 3.62 4.40 4.21 3.65 3.02 2.41 2.06 1.58 1.77 1.15
Average (29 cos.)... 1.65 1.70 1.67 1.72 2.03 1.98 2.23 2.72 2.78 2.74 2.57 1.88 1.69 1.32 1.28 1.23

Washington...

0.99 1.06 1 24 1.37 1.73 1.14 1.04 1.27
1.50 1.63 1.56 2.28 3.24 2.28 1.58 2.24
1.59 1.25 1.30 1.01 1.85 2.64 1.38 1.74
1.10 1.12 0.89 0.94 0.98 1.00 0.98 0.98
1.80 2.80 4.10 2.01 3.38 2.33 2.44 2.56

1.35 1.31 1.44 1.42 2.11 1.82 1.38 1.67
1.14 1.40 1.75 5.02 4.14 2.20 1.84 2.61
1.53 1.55 1.53 2.90 3.06 2.54 1.61 2.02
1.57 1.62 2.03 1.31 1.48 1.46 1.70 1.52
1.57 1.40 1.64 2.94 3.15 2.58 1.64 2.33

1.78 2.03 2.54 2.82 2.27 1.70 1.91 1.88
0.97 1.95 1.67 3.31 2.92 2.80 1.35 2.28
2.57 2.80 I 71 2.84 3.71 3.12 2.23 2.85
1.II 1.50 2.27 1.70 3.19 1.63 1.40 1.82
2.01 2.06 2.57 5.05 4.48 3.16 2.17 3.08

1.50 1.44 1.43 2.10 2.88 2.25 1.50 2.07
1.31 0.90 1.29 1.84 1.91 1.10 1.22 1.35
1.39 1.83 1.92 0 79 1.71 1.23 1.52 1.39
0.72 0.69 0.89 2.13 3.55 1.86 0.79 1.36
1.34 1.64 1.89 1.70 2.48 1.85 1.51 1.78

1.40 1.55 1.52 0 94 1.02 1.64 1.48 1.37
1.32 1.38 1.42 1.69 1.93 1.47 1.30 1.54
0.72 1.31 2.54 0.14 1.12 0.49 1.25 0.87
2.04 1.79 1.66 2.43 3.71 2.75 1.90 2.58
1.35 1.34 1.52 0.89 1.34 1.28 1.26 1.22

0.39 0.44 0.57 0.96 0.94 0.63 0.45 0.63
1.09 1.25 1.49 0.40 0.94 0.94 1.10 0 93
1.45 1.69 1.77 0.60 1.02 1.37 1.71 1.24
1.68 2.49 2.70 2.53 3.83 2.15 1.79 2.53
1.42 1.59 2.02 1.77 2.52 1.69 1.56 1.79

PER CENT TO MEAN POLICIES IN FORCE OF TERMINATIONS BY LAPSE FOR TWENTY-NINE LIFE INSURANCE COMPANIES FROM 1887 TO 1906, INCLUSIVE.

Phoenix Mutual.
Provident L. & T.
Provident Savings.
State Mutual..
Travelers.......

Union Central..
Union Mutual..

United States.
Washington

Averages

* Inclu ding transfers from life and endowment to term under provisions of contract permitting extension at end of first year, many claims being paid under such extension.