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8,293
556

1,930 1,659 2,053 2,594 5,941

834 6,711 2,691 7,872 1,237

COMPANIES OF OTHER STATES. Ætna, American Popular, Anchor, Asbury, Atlantic Mutual, Brooklyn, : Charter Oak, Connecticut General,. Connecticut Mutual, . Continental, Hartford, Continental, New York, Eclectic, Economical Mutual, . Empire State, Equitable, Excelsior, . Germania, Globe Mutual, Government Security, Guardian Mutual, Hartford, Life and Annuity, Home, Homeopathic, Hope Mutual, Knickerbocker, Life Association,

702

$22,073,399 00 18.16 20.85

1,462,541 00 19.82 22.33 4,409,600 00 60.52 58.74 3,623,219 00 57.27 59.69 3,756,186 00 41.64 36.37 6,527,610 00 48.15 44.33 14,139,502 00 24.92 23.06

1,724,422 30 32.96 27.29 20,190,457 00 10.94 11.14 4,484,875 00

28.43 27.44 17,912,035 89 33.70 32.89 2,593,799 67 46.26 48.08 1,920,869 84 25.57 28.36 2,060,000 00 48.05 43.38 17,163,166 00 11.40 11.93 2,978,616 00 58.53 49.96 2,838,051 25

11.93 8.81 9,324,646 00 27.91 30.90

514,000 00 43.99 41.67 7,885,285 00 34.77 33.67 1,627,501 00 29.01 27.55 3,764,250 00 16.97 16.23 1,969,995 00 43.15 40.11 5,727,343 00 58.08 58.79 15,384,077 49 26.81 25.21 14,187,694 00 35.48 31.21

.1,233
4,154
1,345
2,118
3,313

161
3,752

800 1,907

932 2,776 5,500 2,763

.

.

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2,142

529

Manhattan,
Merchants',
Metropolitan,
Mutual, New York,
Mutual Benefit, .
National Capital,
National, Montpelier,
National, New York, .
National, Washington,
New Jersey Mutual,
New York,
North America, .
Northwestern Mutual,
Penn Mutual,
Phenix,
Provident Life and Trust, .
Republic,
Security,
Travelers', .
Union Mutual,
United States,
Washington,
World Mutual,

5,634
9,592
2,297

272
401
2,117
2,359
1,058
7,186
2,636
6,764

850 6,031

521

$6,235,622 00 15.81 14.08

1,006,000 00 100.1988.28 6,658,456 00 61.07 50.74 29,003,070 00 13.45 11.98 9,372,734 00 6.15 7.14 1,446,500 00 88.60 85.40

898,093 00 12.43 14.70 3,981,771 00 47.04 41.14 5,587,943 00 32.38 30.03

2,112,936 07 27.11 26.37 22,803,854 96 19.13 20.58

7,304,228 00 20.49 20.49 16,018,407 02 19.24 24.68

2,516,402 00 12.18 11.04 13,324,064 00 24.61 23.60 1,297,868 00 15.85 13.81

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Totals, Grand Totals,

141,386 $357,877,023 85 20.87 | 19.43 152,223 $383,707,881 47 20.80 19.36

* Apparently erroneous, but so returned by the Company.

с

.

tabulation exhibits, in similar classification, the outstanding insurance carried by each Company at the close of the year, after excluding all cancelled or otherwise terminated risks. A comparison of the aggregates presented, will suggest interesting and instructive considerations.

The annexed aggregated summary of new business transacted by all the Life Companies represented in Massachusetts, during the last sexennial period, commencing with the extraordinary development of 1866, will be found a convenient and comprehensive form for reference.

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1866,

1867,

1868, 1869,

118,797 $353,362,870 00 +35,251 +$119,854,456 00 144,749 419,859,434 00 +25,952 +66,496,564 00 167,139 477,904,806 00 +22,390 +58,045,372 00 181,683 485,485,839 00 +14,544 +7,581,033 00 179,746 426,514,757 00 -1,937 -58,971,082 00 139,633 328,164,706 00 —40,113 –98,350,051 00

1870,

1871,

It will be observed that the business of 1871 shows a continued and very noticeable reduction. Of the sixty-three Companies included in our tabulations for 1870, sixteen reported an excess of new business amounting to thirty-four millions over the previous year, and forty-seven exhibited a decrease of nearly ninety millions. The same comparison for 1871 indicates that eleven of the fifty-six Companies now represented, have secured an excess of seven millions over 1870; while forty-five exhibit a decrease nearly approaching one hundred millions.

In the exhibit of all outstanding insurance at the close of 1870, fifty-four of the Companies then represented had made an increase of nearly one hundred and seventy millions over 1869 ; while only nine of the sixty-three had made a loss of less than fourteen millions. The same tabulation for 1871, which appears in the preceding Summary, shows that thirtytwo of the fifty-six Companies now included, have added fiftyfour millions to their outstanding risks; while the remaining

twenty-four exhibit a decrease of about fifty-five millions. As the net result, the aggregate amount of insurance retained by these Companies at the end of the year, shows a small reduction from that held by them in 1870. The falling off in the aggregate held by all the Companies is nearly forty-two millions, as compared with the previous year.

It should be stated that the tabulations from which these very significant statistics are drawn, have been carefully compiled from the returns made by the several Companies. In various instances the policy data appearing upon the registers of the Department have been revised by those of the Conpanies. If in other cases any apparent discrepancy appears, it is traceable to imperfect or incomplete returns, of which it is hoped another year will secure a careful revision.

In connection with these statistics of new and old business, we introduce also a statement of terminated insurance, including amounts which have ceased by lapse, surrender, purchase, death, etc. As will be seen, the returns made by the Companies strike out of existence upwards of 150,000 policies, and nearly $384,000,000 of insurance, the latter more than $120,000,000 in excess of 1870.

LIFE INSURANCE-PAST, PRESENT AND FUTURE. The statement made in our last Report in regard to the progress of life insurance in the United States, then predicated upon the exhibit of 1870 and some previous years,—namely, that, although the business had gone on increasing, its volume in that direction was making slower advance,-cannot now be safely re-affirmed. While the ratio of growth was reasonably fair in 1869–70, the constantly ebbing tide of expansion denoted a speedy approach to another turning point which has now been reached, as shown by the statistical results just presented. But when the causes which produced the sudden and extraordinary growth at one time reached by the business in this country are properly understood, the more moderate pace at which it now proceeds will seem but the very natural and necessary sequence. There is in this, however, no ground for discouragement in regard to the prospective interests of the business.

As already indicated, the remarkable and unprecedented advance of life insurance accomplished its longest stride in 1866.

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