« ПретходнаНастави »
To His Honour WILLIAM MORTIMER CLARK, K.C.,
Lieutenant-Governor of Ontario.
MAY IT PLEASE Your HONOUR :
The undersigned has the honour to present the Report of the Inspector of Insurance and Registrar of Friendly Societies for the year ended 31st December, 1905.
J. J. FOY,
TORONTO, 1st September, 1906.
TORONTO, 30th August, 1906.
To the Honourable J. J. Foy, K.C., M.P.P., etc.,
SIR, -I have the honour to submit the accompanying reports respecting the various organizations constituted to undertake contracts of insurance, indemnity or guarantee in the Province of Ontario. Of these insurers the Ontario Insurance Act (R.S.O. 1897, c. 203) distinguishes the following divisions :
A. Registered Dominion Licensees : being Insurance Corporations, Companies or Underwriters operating under or by virtue of the Insurance Act of Canada and registered by the Province of Ontario, for the transaction of insurance in the Province.
B. Provincial Licensees: being Insurance Companies licensed, inspected and registered by the Province of Ontario, for the transaction of insurance therein.
C. Registered Friendly Societies : being Societies registered by the Province of Ontario, for the transaction of insurance therein.
of these divisions, the Companies comprised in Division B (Provincial Licensees) are alone inspected by the Province, and are here reported on in the usual form and with the usual financial details pursuant to the provisions of the Ontario Insurance Act.
The report upon Divsion A (Dominion Licensees) made on the 26th January, 1893, described fully their mode and place of incorporation : their statutory powers, duties, rights and obligations ; their internal organization; the relation of the members, inter se ; the liabilities of the members to the creditors of the Company; the kind or kinds of insurance for which the Company is registered in Ontario; and the extent to which assets of the Company have been deposited in various countries as special security for the policy-holders of those several countries. In the present report, except in cases of new licensees, it has not been considered necessary to set out all of these details. Where any change has occurred in the Company's power or status, of which the Department has received notice, the nature and extent of such changes are indicated.
All of the Companies in Division A, except Ocean Marine Companies, make financial statements annually to the Dominion of Canada ; and those statements, as revised by the Dominion Superintendent, can be found in the Superintendent's Annual Report. The balance sheets, therefore, printed here, under Division A, are limited to those of Ocean Marine Companies.
The report upon Division C (Friendly Societies) made on the 26th of January, 1893, related to their mode and place of incorporation ; the statutes and instruments under which the Societies were constituted, and thore by which they are now governed ; the kind of insurance or insurance benefits undertaken ; that report also showed inter alia whether or not the certificate
THE REPORT OF THE INSPECTOR OF INSURANCE.
holders generally are secured by a surplus fund; and, if a surplus fund is maintained, whether any of this surplus is held in Ontario, if any how much, how invested, and by whom held and controlled.
The present report on Division C contains in substance the Annual St ments for the year ending 31st December, 1905, made by the Friendly Societies to the Insurance Department for Ontario, under section 96 of the Ontario Insurance Act (R.S.O. 1897, c. 203).
In order to prevent unnecessary delay in publication, the three Divisions have'been placed simultaneously in the printer's hands—the pages of the several divisions being distinguished by the Division letter prefixed. Division indexes have been inserted at the end of the volume. These indexes show the Companies and Societies standing registered at the dates therein mentioned.
I have the honour to be, Sir,
Your most obedient servant,
J. HOWARD HUNTER,