Слике страница
PDF
ePub

Ratio of Net Assets or Actual to Computed Premium Reserve,

December 31, 1871.

NAME OF COMPANY.

Net Assets or Ac-Net Present Val. Ratio of AC- CORRESP'G RATIOS.

of Policies or tual to Com-
tual Premium

Computed Pre- puted Prem.
Reserve.
mium Reserve. Reserve.

1870. 1869.

[blocks in formation]

110.44 112.54 118.92

[ocr errors]

.

[ocr errors]

Cos. OF OTHER STATES. Ætna, American Popular, Anchor, Asbury, Atlantic Mutual, Brooklyn, . Charter Oak, Connecticut General, Connecticut Mutual,. Continental, Hartfd, Continental, N. York, Eclectic, Economical Mutual,. Empire State, Equitable, Excelsior, Germania, Globe Mutual Governm't Security, . Guardian Mutual, Hart'd Life & Ann'y, Home, Homeopathic Mut'l, Hope Mutual, Knickerbocker,

.

$15,565,331 $14,093,341

442,274 379,868 406,077 305,116 373,882 279,533 862,032 795,403 1,651,749 1,528,836 9,169,777 8,912,559

729,424 554,710 31,187,543 25,522,158 2,161,713 1,847,476 4,825,540 4,581,976

304,145 238,263 753,421 725,038

302,485 209,382 15,676,248 14,983,852

508,650 454,803 4,335,721 3,998,700 3,061,547 2,972,553

262,762 * 201,569 2,454,476 2,442,608

686,821 394,757 2,953,162 2,665,507

359,156 316,132

481,193 362,206 7,302,684 7,189,527

116.43 | 111.12 111.90 133.09 128.54 223.79 133.75 117.32 (165.98 108.38 112.06 121.48 108.04 108.49 | 109.87 102.89 107.28 | 114.67 131.50 155.26 179.35 122.20 139.18 144.43 117.01 133.95 143.75 105.32 103.98 115.86 127.65 127.99 225.68 103.91 101.55 110.47 144.46 167.85 104.62 103.30 103.23 111.84 118.06 142.32 108.43 109.95 116.71 102.99 102.09 105.81 130.36 396.06 100.49 106.95 109.13 173.99 212.13 276.93 110.79 107.71 | 109.91

113.61 | 123.43 152.46

132.85 134.82 378.89 101.57 103.23 110.48

Ratio of Net Assets, &c.-Concluded.

NAME OF COMPANY.

Net Assets or Ac- Net Present Val. Ratio of AC- CORRESP'G RATIOs.

of Policies or tual to Comtual Premium

Computed Pre- puted Prem. Reserve. mium Reserve. Reserve.

1870. 1869.

102.24 | 102.06 106.73 117.19 | 119.03 122.00 224.34 403.07

Life Association, Manhattan, Merchants', Metropolitan, Mutual, New York, . Mutual Benefit, National Capital, National, Montpelier, National, New York, National, Washing'n, New Jersey Mutual, New York, North America, Northwestern Mut'l, Penn Mutual, . Phænix Mutual, Prov'nt Life & Trust, Republic, . Security, .Travelers', Union Mutual, . United States, Washington, World Mutual, .

$3,543,105
7,164,027

144,815
1,070,319
50,764,046
21,505,004

196,200 1,172,502

834,247 2,034,712

692,042 18,121,360

5,349,257 10,473,515

3,350,512 6,945,351 1,483,491 1,146,485 3,180,963 1,628,222 5,801,340 3,213,338 2,835,331 506,331

$3,465,650
6,113,328

64,549

993,255 46,959,628 19,403,634

82,198 797,864

805,592 1,450,495

616,842 17,047,317 5,261,442 9,452,679 2,719,194 5,988,454

979,824 652,236 2,962,481 1,020,365 5,256,696 2,706,031 2,612,939 418,539

107.76 105.35 160.73 108.10 | 106.86 | 104.81 110.83 110.10 118.11 238.69 247.18 146.96 144.80 146.26 103.56 102.34 119.01 140.28 151.20 193.17 112.19 108.56 121.48 106.30 104.00 109.01 101.67 101.12 105.22 110.79 | 107.68 105.49 123.22 111.68 117.17 115.98 | 124.06 131.18 151.41 154.19 147.30 175.78 107.38 104.00 104.27 159.56 173.04 187.99 110.36 | 113.62 116.82 118.75 | 120.65 | 128.78 108.51 107.93 | 104.34

120.98 136.21 | 144.05

Totals, Grand Totals,

$259,974,328 $233,787,105 $279,207,998 $251,013,500

111.20 113.30 117.49 111.23 113.16 117.51

.

all as

time are such as "agents' balances," "cash in the hands of agents,"

" e loans or advances to officers or agents, payable from salaries or future commissions," "stationery and other office supplies,” etc. The propriety of such exclusion may be judged of, when we state the fact that about one-fourth of all the Companies represented, claimed no value for them, while fully one-half of the remaining Companies officially informed us that, in their opinion, the items thus rendered by them, in some cases very large, were considered by them to be of little value. Others estimated the same class of items as worth fifty per cent. of their face; while six or seven Companies claimed a par value. Upon careful and impartial consideration, there seemed to be an eminent propriety in treating them. unadmitted assets.” Whatever

Whatever may be actually realized from such accounts will of course become an item of income, and enter into the future assets of the Companies.

We have chosen to make our own classification of assets, without regard to that undertaken by many of the Companies, or required by the so-called "uniform blank,” but have endeavored to do exact justice to every Company. While the necessity and value of a "uniform blank" are fully admitted, and while the blank adopted by the Insurance Convention, whatever its defects, meets in a large degree the demand, the effort seems likely to prove a failure, unless, indeed, some form possessing sufficient elasticity can be invented to satisfy the particular and differing views of about three-quarters of all the book-keeping fraternity, and the requirements of about as many different systems of book-keeping. The same is equally true of the balance sheet submitted in the same blank, though if used as it might be, it would have been found entirely practicable. We have made no use of these . balance sheets, because of the lack of uniformity in their preparation, almost every Company placing a different interpretation upon their requirements, and filling it in accordance therewith. For these reasons the use of the balance sheets, or a tabulation of the balances returned, would have possessed very little if any practical value.

PROGRESS OF LIFE INSURANCE. In this connection the following aggregated insurance data, in the present aspect of the business, present some noticeable comparisons :

[blocks in formation]
[blocks in formation]

42,502

$116,482,196 00 48,607 6,105 132,740,828 00 $16,258,632 00 55,360 6,735 151,321,230 00 18,580,402 00 57,139 1,779 152,937,587 00 1,616,357 00 75,892 18,753 199,285,862 00 46,348,275 00 97,943 22,051 259,725,190 00 60,439,328 00 146,562 48,619 382,569,890 00 122,844,700 00 211,537 64,975 563,396,862 00 | 180,826,972 00 310,738 99,201 871,863,925 00 308,467,053 00 432,441 121,703 1,234,630,474 00 362,766,549 00 548,280 115,839 1,566,901,509 00 332,271,035 00 649,207 100,927 1,826,171,426 00 | 259,269,917 00 727,362 78,155 1,981,915,920 00 155,744,494 00 736,026 4,075 1,940,168,628 00 41,747,292 00

: 32

43 47

56

64

65

55

These aggregated returns made by the several Companies, develop a curious result in the addition of more than eight thousand policies to the number outstanding at the close of 1870, and in a decrease of upwards of forty-one millions of insurance in force; and yet the statement is verified by returns officially made to this Department.

The aggregate statistics of financial growth are also shown in the following similar tabulation :

[blocks in formation]
[merged small][ocr errors][merged small][merged small][merged small][ocr errors][ocr errors][merged small]

$4,835,886 00 $17,446,455 00 $10,672,000 00
4,839,877 00 18,556,857 00 | 12,037,853 00 $1,197,583 00
5,635,071 00 | 21,963,438 00 | 13,695,381 00 1,225,998 00
6,126,100 00 25,099,556 00 | 14,731,845 00 1,501,542 00
7,770,056 00 31,675,984 00 18,494,607 00 | 2,023,671 00
10,389,968 00 36,034,126 00 24,021,295 00 2,369,140 00
16,164,604 00 45,460,595 00 | 30,870,534 00 3,281,470 00
24,758,282 00 60,939,772 00 42,526,623 00 4,347,277 00
41,377,104 00 88,666,232 00 65,031,991 00 5,353,141 00
62,513,378 00 130,485,501 00 100,230,047 00 9,287,545 00
77,279,145 00 175,554,426 00 140,190,288 00 11,475,837 00
97,080,878 00 222,615,796 00 182,167,426 00 15,248,761 00
103,457,789 00 262,808,317 00 220,751,337 00 19,142,006 00
105,653,534 00 290,563,953 00 251,013,500 00 21,089,728 00

.

.

Among other points of interest appearing in the above exhibit, is the fact that the life insurance income realized in 1871, amounting to upwards of one hundred and five millions, is seventeen fold in excess of that reported by Companies doing business in Massachusetts in 1861; while the twentyfive millions of life insurance assets represented in 1861, have increased to more than two hundred and ninety millions during the same decennial period. Another important and suggestive consideration appears in the disbursement of more than twenty-one millions for death claims in 1871, the aggregate thus paid by Companies represented in Massachusetts during the last thirteen years amounting to upwards of ninetyseven million dollars.

WORKING EXPENSES. It is a pleasure to note a decrease in the actual working expenses of life insurance. Economy in this direction, as heretofore urged in these Reports, is absolutely essential to existence of a Life Company. Without it, a Company may as well begin at once to count the number of its remaining days.

« ПретходнаНастави »