11,355,553 COMPANY, NEW YORK CITY, N. Y. Incorporated January 31, 1860. Commenced Business February 2, 1860. 2d Vice-Pres. and Supt. of Agencies; I. C. Pierson, Actuary; J. W. Brannan, M. D., Med. Dir. 602,567 2,144,609 5,703 24,677 216,391 3,712,225 766,227 1,786 3,936,740 772,975 2,273 5,827,269 233,869 3,398,432 10,229 23,127,543 5,353,251 4,740.944 612,307 239,665 223,671 2,665,926 203,911 12,144 24,385.759 2,109,718 1,928,350 1,503,152 1,284,960 218,192 COMPENDIUM OF Official Life Insurance Reports INCLUDING FOUR THOUSAND LIFE INSURANCE RATIOS. BEING A SERIES OF COMPARATIVE EXHIBITS FOR LIFE POLICYHOLDERS SHOWING THE BUSINESS AND FINANCIAL STANDING OF ALL THE LIFE INSURANCE COMPANIES OF THE UNITED STATES. COMPILED FROM OFFICIAL REPORTS. INTRODUCTION. The last few years have witnessed the projection and formation of quite a number of new Life Insurance Companies by men who, encouraged by the evidences of remarkable growth in the older companies, have placed the new ventures in the field to press still more strongly the benefits of Life Insurance on the people. We have, therefore, in this, the fifth year of this compilation, the statistics of fifty-six companies in its various exhibits, being a gain of three over 1892. These fifty-six companies are domiciled in twenty-two different States, and every agent and officer connected with Life Insurance will be able to appreciate the advantage of having complete statistics of them all, under one cover, thus avoiding the necessity of purchasing the small library of State Insurance reports which contain their figures. As has been our custom in the past, we have taken the report of the New York Insurance Department as a standard, the figures of the companies not reporting to that State being obtained direct from the reports to their own Insurance Departments, thus making all the figures official; the ratios, however, were prepared by us. Wherever improvements could be made we have made them, with the result that the compilation is more nearly perfect than ever before. Every table is complete in itself, but in order to facilitate quick comprehension of them, we have added a few concise notes. By grouping the industrial companies separately in each exhibit the value of the compilation has been greatly enhanced. This branch of insurance occupies an entirely distinct position and is now so vast in its operations that it is but just that it should be classed by itself, and thus show clearly what it is accomplishing. In the case of the four companies that transact ordinary business as well as industrial, a separation has been made wherever practicable; but these classifications are few in number, and, as the bulk of their business is industrial, they will be found under that head. We cannot urge too strongly the fact that, in considering these exhibits, it must be remembered that one set of ratios does not indicate the comparative standing of any particular company. It is only by an examination of all that a fair comparison. can be made, and even then, perhaps, only by a comparison with previous years. For this reason we have presented in the exhibits a comparison with the figures and ratios of the preceding year. NOTES. EXHIBIT I. In addition to the companies named in this Exhibit, the following companies carry small amounts of outstanding insurance on their books, but write no new business: Girard Life, Annuity and Trust, Philadelphia. Massachusetts Hospital Life, Boston. National of United States of America, Chicago. New York Life and Trust, New York. Pennsylvania Company for Insurance on Lives, Philadelphia. The Hartford Life and Annuity of Hartford, Conn., is also winding up its regular business and now confines its new issues to its Safety Fund plan. The following companies are reported as organizing: American Annuity Company, New York, N. Y., capital, $100,000. American Home Life, Chicago, Ill.; capital, $250,000. Building Loan Life, Chicago, Ill.; capital, $500,000. Columbia Life Insurance Company, Chicago, Ill.; capital, $100,000. Dubuque Life Insurance Association, Dubuque, Ia. Economic Life, Wilmington, Del.; capital, $500,000. Illinois Life Insurance Company, Chicago, Ill.; capital, $1,000,000. National Benefit and Assurance, Chicago, Ill.; capital, $500,000. North American Life Assurance Company, Chicago, Ill.; capital, $500,000. Park City Life, Bridgeport, Conn. Rhode Island Life and Accident, Providence, R. I.; capital, $100,000. EXHIBIT III. The Item of Assets Not Admitted consists of assets whose value cannot be readily ascertained by the insurance commissioners, and are therefore disqualified, although they may be perfectly good investment. Agents' balances, bills receivable, furniture, fixtures and safes, advances to agents and commuted commissions are included in this item. The departments also deduct an average loading of twenty per cent of the deferred and unpaid premiums. These amounts are also included in this column. EXHIBIT IX. Many companies take notes in part payment of premiums, upon which interest is paid, and others loan a part of the policy reserve to their policyholders. The amounts of such notes and loans are, of course, deducted in the final settlement of the policies. The following shows the total of such notes and loans for the year 1891 : The above makes a total of $21,053,640, consisting of $13,520, 180 in premium notes, and $7.533,460 in Loans to Policyholders. |