North Carolina. Dept. of Insurance.

Annual report of the Insurance Commissioner of the State of North Carolina ... online

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in 1899 6 years Seven-twelfths 6,000.00 76.00 43.76

In 1901 6 years ._ Eleven-twelfths 2,600.00 29.68 27.20

In 1897 7 years Five-fourteenths 1,000.00 10.00 3.67

In 1898 7 years Seven-fourteenths 25,600.00 296.'25 148.13

In 1899 7 years Nine-fourteenthi^ 9,000.00 45.75 29.41

In 1900 7 years Eleven-fourteenths 1,200.00 24.00 18.85

In 1892 10 years One-twentieth • 16,200.00 88.00 4.30

In 1897 10 years Eleven-twentieths 1,000.00 15.00 8.25

In 1898 10 years Thlrteen-twentieths — 19,000.00 172.00 111.80

In 1899 10 years Fifteen-twentieths 1,400.00 7.70 5.77

In 1900 10 years Seventeen-twentieths. 5,000.0») IIO.OO 93.50

Totals 8 320,261,374.00 $ 2,944,509.90 $ 1,618,752.60

UNDERWRITING AND INVESTMENT EXHIBIT DURING YEAR.

Surplus at beginning of year 8 980,620.91

Net prerniums received during

year $ 1,840,022.39

Increase in gross uncollected pre-

mlunos . $ 2,896.49

Increase in re-insurance fund 170,895.87 167,999.38

Total net premiums earned 8 1,672,023.01

Interest, etc , received 8 85,107.69

Increase in accrued interest, etc... 40,899.24

Total interest earned 125,506.93

Total premiums and interest

earned 8 1,797,529.94

Net losses paid during year 8 1,031,790.40

Decrease in net unpaid losses 608.28

Total net losses incurred 8 1,031,182.17

Expenses paid 8 688,915.08



Increase in unpaid expenses 660.69

Total expenses incurred 689,575.77

Total losses and expenses in-
curred 1,720,757.94

Net loss for the year 8 76,772.00

Remitted to Home Office during

year 125,150.00

Decrease in surplus for year 8 48,378.00

Surpl us at e nd of year 932, 142. 91

BUSINESS IN STATE OP NORTH CAROLINA DURING YEAR.

Fire Risks.

Gross risks written , 8 815,662.00

Gross premiums received 12,855.70

Losses paid 6,172.35

Losses incurred 6,946.97



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344 Fire and Fire and Marine Insurance Companies.

UNION ASSURANCE SOCIETY OF GREAT BRITAIN.

United States Branch Located at New York City.

Incorporated 1714. Commenced Basinese in United States 1891.

United States Managers, Hall & Henshaw.



Statutory Deposit, $200,000.

Amount of net ledger assets December 31, 1900 $ 1, 370, 000. 91

INCOME.

Mabink akd
Fire. Iklakd.

Gross cash received for premiums $ 1,514,379.16 $

Deduct re-insurance, rebate, abatement and re-
turn premiums 466,692.62

Net cash received for premiums 1 1,067,786.64 $

1,057,786.64

Rents 9,012. 52

Interest and dividends on stocks and bonds 36,866. GO

Interest and dividends from all other sources — 514. 40

Received from Home Office 130,000. 00

Total income ^ $ 1, 234, 179. 56

Aggregate last balance and income $ 2, 604, 180. 47

DISBURSEMENTS.

Marine akd
FiRK. Inland.

Gross cash paid for losses f 786,698.97 $

Deduct salTage and re-insurance 120,646.23

Net cash paid for losses $ 666,963.74 $

'' 665,953.74

Commissions or brokerage and allowances to agents 257, 303. 70

Rents 1,500.00

Salaries and fees of oflScers and employees 60, 929. 92

Taxes 28^119.94

Insurance Department fees and agents' licenses 7, 238. 18

Advertising, printing, etc 57,708.55

Remitted to Home Office 212, 558. 41

Total disbursements during the year $ 1,291,312.44

Balance December 31, 1901 $ 1,312,868.03



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Fire and Fire and Marine Insurance Companies. 346



ASSETS.

AS PER LEDGER ACCOUNTS.

Book value of real estate owned $ 190,973.19

Book value of stocks and bonds 1,057,331.60

Cash in oompaoy^s oftloe 6,279.24

Cash in bank 4«,669.64

Another a 9,714.56

$ 1,312,868.03
OTHER ASSETS.

Rents and interest due and accraed 9,938.14

Market value of real estate over book value 9,026. 81

Market value of stocks and bonds over book value 68, 306. 60

Uncollected premiums 110, 391. 79

Gross assets — ...| 1, 510, 631. 27

Non-admitted assets-
Depreciation in book value real estate, etc $ 9,714.56

Total deductions 9, 714. 56

Total admitted assets $ 1.600,816.71

liabilities.

Leases adjusted and unpaid $ 88,224.80

Losses in process of adjustment 128,440.29

Losses resisted 8,414.86

$ 225,075.95
Deduct re-insurance due or accrued 39,381.09

Net amount of unpaid losses .-.| 186,698.86

Total unearned premiums 681,336.47

Return and re-insurance premiums-.. - 2, 234. 62

Total liabilities '- $ 869,269.95

Net surplus 631,646.76

Total liabilities, including cash capital and net surplus 1 1, 500, 816. 71

MISCELLANEOUS.

RISKS AND PREMIUMS.

FiRK Risks. Pbemiums.

In force at beginning of the year S 141,700,307.00 $ 1,464,344.80

Written during the year 146,955,842.00 1,466,865.15

ToUl S 288,656,149.00 $ 2,931,219.95

Deduct those expired and marked off as terminated 147,783,760.00 1,500,647.05

In force at end of the year $ 140,872,389.00 $ 1,430,572.90

Deduct amount re-insured 14,566,118.00 128,493.09

Net amount in force $ 126,306,271.00 $ 1,302,079.81

Largest amount in any one hazard I 25,000.00

RECAPITULATION OF FIRE RISKS AND PREMIUMS.

Year Fraction Amount PauiiriiB Prehium.s.

Written. Term. Unearned. Coterrd. Charged. Unearned.

In 1901 1 year or iess^One-half $ 87,627,141.00 S 897,299.17 $ 448,649.59

In 1900 2 years One-fourth 1,134,946.00 10,709.41 2,677.35

In 1901 2 years Three-fourths 730,968.00 8,082.73 6,062.04



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346 Fire and Fire and Marine Insurance Companies.



In 1899 3 years One-elxth $ 6,693,100.00 $

In 1900. 3 years One-half

In 1901 3 years Five-sixths

In 1898 4 years One-eighth

In 1899 4 years Three-eighths

In 1900 4 years Five-eighths

In 1901 4 years Seven-eighths

In 1897 6 years One-tenth

In 1898 6 years Three-tenths ^

In 1899 5 years One-half

In 1900 6 years Seven-tenths

In 1901 5 years Nine-tenths

Perpetual 95 per cent .



6,693,100.00 $


66,942.71 $


9,490.45


8,763,496.00


89,487.78


44,743.88


10,666,081.00


108,4fl6.20


90,412.6T


364,668.00


3,'209.39


401.17


503,709.00


3,366.06


1,268.54


463,384.00


4,950.38


3,093.99


335,569.00


3,681.90


3,221.66


579,639.00


8,710.94


871.U9


2,133,986.00


18,827.01


5,648.10


1,617,653.00


21,978.33


10,989.16


2,012,629.00


29,486.68


26,689.97


2,809,113.00


86,863.12


33,176.81



Totals $ 126,306,271.00 $ 1,302,079.81 $ 681,336.47



UNDERWRITING AND INVESTMENT EXHIBIT. DURING YEAR.

Surplus at beginning of year $ 724,310.28

Net premiums received during

year S 1,057,786.64

Decrease in gross uncollected

premiums 8 38,939.00

Decrease in re-insurance fund 15,956.46 • 22,982.54

Total net premiums earned 8 1,034,804.10

Interest, etc., received $ 43,380.40

Decrease in accrued interest.etc 12,856.39

Total interest earned 30,525.01



Total premiums and interest

earned $ 1,066,829.11

Net losses paid during year S 665,953.74

Increase in net unpaid losses 1,865.66

Total net losses incurred $ 667,819.30

Expenses paid $ 409,787.77

Decrease in unpaid expenses 2,072.85

Total expenses incurred 407,714.92

Total losses and expenses in-
curred 1,075,634.22

Net loss for the year 8 10,206.11

Remitted to Home Office during

year 8 212>658.41

Received from Home Office dur-
ing year 130,000.00



82,558.41



Decrease in surplus for year 8 92,763.52

Surplus at end of year 681,546.76

BUSINESS IN STATE OF NORTH CAROLINA DURING YEAR.

FiBB Risks.

Gross risks written 8 2,112,080.00

Gross premiums received 18,980.04

Re-insurance premiums 11,166.45

Losses paid 7,324.50

Losses incurred - 9,271.06



Number of agents working in the State during year, 41.



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Fire and Fire and Marine Insurance Companies. 347

WESTERN ASSURANCE COMPANY OF THE DOMINION

OF CANADA.

Located at Toronto, Canada.

Incorporated Augnsti 1851. CoDQmenced Business August, 1851.

Hon. Geo. A. Cox, President. C. C. Foster, Secretary.



Amount of net ledger assets December 31, 1900 — I 1, 962, 266. 96

INCOME.

MaRINB AND

Fire. Inland.

Gross cash received for premiums $ 2,595,535.77 $ 549,653.54

Deduct re-insurance, rebate, abatement and re-
turn premiums 666,882.30 76,877.63

Net cash received for premiums $ 1,928,653.47 $ 472,776.01

2,401,429.48

Interest received on mortgages 1,300. 00

Interest and dividends on stocks and bonds 70, 985. 81

Profit on sale or maturity of ledger assets 3,028.93

Eeceived from Home Office 167,824.09



Total income $ 2,644,568.31



Aggregate last balance and income $ 4, 606, 835. 27

DISBURSEMENTS.

Marine and
Fire. Inland.

Gross cash paid for losses $ 1,355,286.04 S 348,284.56 •

Deduct salyage and re-insurance 73,941.81 28,853.62

Net cash paid for losses $ 1,281,344.23 S 324,930.94

1,606,275.17

CJommissions or brokerage and allowances to agents 466, 858. 20

Rents - 4,025.00

Salaries and fees of oflScers and employees ' 92, 390. 00

Taxes 46,216.09

Insurance Department fees and agents* licenses 14, 746. 83

Advertising, printing, etc 143,443.03

Total disbursements during the year $ 2, 373, 954. 32

Balance December 31, 1901 $ 2, 232, 880. 95



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348 Fire and Fire and Marine Insurance Companies.

ASSETS.

A8 PER LEDOBR ACCOUNTS.

Loans on mortgages $ 20,000.00

Book value of stocks and bonds 1,720,436.75

Cash in company's oflSoe 262.34

Cash In bank 176,054.18

Bills receirable 45,904.62

All other 270,228.16

Total net ledger assets $ 2,232,880.95

OTHER ASSETS.

Market value of stocks and bonds over book value 2, 042. 14

Total admitted assets .. - $ 2, 234, 923. 09

LIABILITIES.

Losses adjusted and unpaid $ 42,301.91

Losses in process of adjustment 100,832.73

Losses resisted 9,000.00



Net amount of unpaid losses $ 152, 134.64

Total unearned premiums 1,424,645.40



Total liabilities $ 1,576,780.04

Net surplus 658,143.05

Total liabilities, including cash capital and net surplus $ 2, 234, 923. 09

MISCELLANEOUS.

RISKS AND PREMIUMS.

FiEB Risks. PaiMiuMt.

In force at beginning of the year $ 216,597,989.00 $ 2,167,447.91

Written during the year - 267,797,542.00 2,595,536.77

Total - S 474,395,631.00 $ 4,762,983.68

Deduct those expired and marked off as terminated.. 223,149,464.00 2,144,158.60

• In force at end of the year S 261,246,067.00 $ 2,618,826.08

Deduct amount re-insured 13,140,013.00 127,666.54



Net amount in force ^ $ 288,106,054.00 $ 2,491,158.54

Makinb and
Inland. PmEMivMt.

In force at beginning of the year $ 6,932,330.00 $ 169,133.86

Written during the year 61,041,284.00 549,668.54

Total $ 67,973,614.00 $ 718,787.40

Deduct those expired and marked off as terminated 59,935,837.00 519,891.80

In force at end of the year $ 8,037,777.00 8 198,805.60

Deduct amount re-insured 1,892,077.00 36,348.49



Net amount in force at end of the year $ 6,145,700.00 $ 162,547.11



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Fire and Fire and Marine Insurance Companies. 349



RECAPITULATION OP FIRE RISKS AND PREMIUMS

Tear Fraction Amount. Premiums Premiums

Written. Term. Unearned. Covered. Charged. Unearned.

In 1901 1 year or Ie«— One-half $ 146,543»793.00 $ 1,604,541.41 $ 802,270.70

In 1900 2 years One-foarth '

In 1901 2 years Three- fourths

In 1899 3 years One-sixth 27,074,708.00 210,275.46 36,045.91'

In 1900 3 years One-half 19,402,025.00 187,930.97 93,966.48

In 1901 8 years Flye-sixths 21,276.489.00 227,832.31 189,860.26

In 1898 4 years One-eighth

In 1899 4 years Three-eighths

In 1900 4 years Five-eighths ^'

In 1901 4 years Seven-eighths

In 1897 a years One-tenth 4,166,231.00 41,634.09 4,163.41

In 1898 6 years Three-tenths 4,801,289.00 44,043.71 18,213.11

In 1899 6 years One-half 6,814,668.00 67,593.97 28,796.98

In 1900 6 years Seven-tenths 4,266,901.00 63,967.69 37,777.31

In 1901 6 years Nlne-tenths 4,766,966.00 63,339.03 67,005.13

Totals $ 238,106,054.00 $ 2,494,168.54 $ 1,262,098.29

UNDERWRITINO AND INVESTMENT EXHIBIT DURING YEAR.

Surplus at beginning of year $ 667,806.79

Net premiums received during

year $ 2,401,429.48

Increase in re-insurance fund 203,237.68



Total net premiums earned % 2,198,191.80

Interest, etc., received $ 76,314.74

Decrease in accrued interest, etc — 1,199.70

Total interest earned 74,116.04

Total premiums and Interest

earned S 2,272,306.84

Net losses paid during year $ 1,606,275.17

Decrease in net unpaid losses 24,160.66

Total net losses incurred $ 1,682,114.62

Expenses paid $ 767,679.16

Total expenses incurred 767,679.15

I

Total losses and expenses incurred, 2,849,793.67

Net loss for the year $ 77.486.83

Remitted fk-om Home Office during

year 167,824.09

Total dividends Incurred for year— S 90,337.26

Increase in surplus for year S 90,837.26

'Surplus at end of year 668,143.06

BUSINESS IN STATE OF NORTH CAROLINA DURING YEAR.

Fire Risks.

Gross risks written $ 2,543,698.00

Gross premiums received 22,241.61

Losses paid 11,606.31

Losses Incurred 12,827.67



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FIDELITY AND CASUALTY
COMPANIES.



ABSTRACTS FROM ANNUAL STATEMENTS FILED IN THIS DEPART-
MENT, SHOWING THEIR TRANSACTIONS FOR THE
YEAR OF 1901 AND THEIR CONDITION ON
THE 31ST DAY OF DECEMBER, 1901.



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^TTNA LIFE INSURANCE COMPANY OF CONNECTICUT.

ACX!IDBNT AND HbALTH BUSINESS.

Located at Hartford, Conn. Incorporated 1820. Commenced Business 1850.
M. G. BuLKELEY, President J. L. English, Secretary.



Cash capital, 11,750,000.
Amount of net ledger assets December 31, 1900



.$ 52, 862, 693. 13



INCOME.



Premiums collected during year .



Accident. Hbaltu.

„$ 1,286,260.73 $ 79,874.23



Deduct re-insurance, abatement, rebate and re-
turn premiums



33,662.24



1,485.06



$ 1,251,688.49 $



78,388.17



Net cash received for premiums 1, 329, 977. 66

Rente $ 37,028.46

Interest on real estate



Interest on collateral loans

Interest on bonds and dividends on stocks..
Interest on other debts due the company —

Profit on sale or maturity of ledger assets

From all other sources



1,369,332.36

189,106.56

801,673.37

87,027.89

203,780.78

2,083.93



Total income— 4,019,856.00



DISBURSEMENTS.



Gross amount paid for claims, excepting weelcly
indemnity $

Gross amount paid for weelsly or other periodi-
cal indemnity



ACCIDKKT.



Hraltb.



ToUl.



148,499.91 $

397,268.54 39,106.71

39,106.71



Deduct re-insurance and salvage.



545,758.45 $
2,869.70 __



442,888.76 S



39,106.71



Net paid policy-holders

Stoclcholders for interest or dividends $

Commission on brokerage to agents, less received on re-iosur-

Salariee, traveling and all ezpensen of agents and agencies not

on commission account

Medical ezaminern' fees and salaries

Salaries Home Office employees

Taxes on premium?, $18,077-49; losurance Department fees and
agents' licenses, $2,075.10; municipal licenses, $1,197.27; (ax
on franchise, $197.50; revenue, $4,419..30



23



581,995.46



43,760.00

449,020.16

17,877.00

7,622.81

36,666.37



25,966.66



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354 Fidelity and Casualty Insurance Companies.



Rent $ 12,887.67

Legal ezpeoses - 8,653.90

Farnlture and fixtures, $3,989.42; advertising, $3,903.09; printing

and stationery, $20,636.60 28,429.61

All other 20,242.36

Total miacellaneouB expenses $ 651, 116. 43

Total disbursements $ 1,233,111.89

ASSETS.*

AS PER LEDGER ACCOUNTS.

Book Talue of real estate $ 694,228.66

Loans on mortgages 23,828,762.84

Loans on collaterals 890,442.7;«

Book value of stocks and bonds 20,649,288.42

Gash In company's otUce 130,634.18

Oish in" bank 7,686,667.94

Bills receivable, $37,782.81; agents' debit balances, $39,138.83 76,921.64

All other items, viz.: loans to policy-holders on thin company's
policies, $2,103,686.00; premium notes on policies in force,

$417,911.39 2,521,696.39

Total-— - $ 66, 183,472.68

Deduct ledger liabilities 22,618.46

Total net ledger assets - - $ 56,160,854.22

OTHER ASSETS.

Total outstanding interest and rents — .:- — 690,062.95

Market value of bonds and stocks over book value 2, 124, 982. 72

Net amount of outstanding premiums 691,074.68

Gross assets — $ 59,666,974.57

Deduct assets not admitted-
Commissions payable to agents on premium notes when paid.^ 1,660.73

Agents* debit balances unsecured 27,787.27

Bills receivable unsecured 27,184.22

All other 642.18

Total deductions 57,283.40

Total admitted assets $ 59,609,691.17



LIABILITIES.!

, Known or Eb- Rebihted by

In Pboce88 or Ad- timated, Pboof* Company on its
JUSTMENT. Not Filed. Own ArcouMT.

Accident $ 23,400.10 $ 10,000.00 $ 80,279.39

Health 1,428.91



Net amount of unpaid

claims S 24,829.01 $ 10,000.00 •$ 80,279.39

Aggregate and unpaid claims and expenses -— $ 115, 108i40



■^Includes both Life and Accident Departments,
flnoludes both Life and Accident Departments.



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Fidelity and Casualty Insurance Companies. 355

On risks running one year or less —

Unearned Pok-
TioN(50perot.).

Accident premiums S 810,879.48 $ 406,439.74

Health premiums 72,094.19 36,047.09

$ Ul,486.83
Deduct reserve on risks

re-insured in other

Total one year or less $ 438,653.71

On risks running more than one year—

Unkaimbd Pkk-

MiuHS (Pro rata;.

Accident premiums I 6,838.92 $ 28,472.00

Total more than one year 23,472.00

Total unearned premiums as computed above (carried out) - -$ 462, 125. 71
Salaries, rent, taxes, etc., Accident Department 1, 000. 00

Total liabilities accident business $ 578,234. 11

Total liabilities life business 53,708,375.81

Cashcapital 1,750,000.00

Netsurplus — 3,573,081.25

Total liabilities, including cash capital and net surplus $ 59, 609, 691. 17

RISKS AND PREMIUMS.

ACCIDENT.

Amount at Pbemiums

Risk. Thbbkon.

In force December 31, 1900 $ 160,114,620.00 $ 747,418.68

Written during 1901 382,678,199.33 1,365,124.96

Total $ 642,792,819.33 8 2,112,543.49

Deduct expirations and cancellations 359,794,200.00 1,222,730.90

Balance $ 182,998,619.33 $ 889,812.69

Deduct re-insured policies 1,868,000.00 5,rt66.26

Net amount in force at end of year $ 181.680,619.33 9 884, 146.34

BUSINESS IN NORTH CAROLINA DURING YEAR.

Risks Pbemiums Losses Amt. at Risk

Wbitten. Received. Losses Paid. Incubbed. End or Tbab.

Accident $1,072,200.00 $ 3,622.48 $ 1,119.98 I 1,384.97 $ 261,700.00

Heaitli 1,456.78 2.067.61 2,493.94

Aggregate $ 1,072,200.00 9 6,079.26 $ 3,147.49 9 3,878.91 $ 261,700.00



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356 Fidelity and Casualty Insurance Companies.

AMERICAN BONDING AND TRUST COMPANY OF
MARYLAND.

Located at Baltimore, Md.

Incorporated April 6, 1894. Commenced Business Janaary 16, 1895.

James Bond, President. 8amubl H. Shriver, Secretary and Treasurer.



Cash capital, $1,000,000.

Amount of net ledger assets December 31, 1900 - $ 1, 654, 096. 43

INCOME.

FiDRLITT AND
SUBRTT.

Premioms anpaid December 31, Iftst year paid S 73,826.41

Preroiuma written and renewed during year 670.717.54

Total $" 644^543.95

Dedact premiums now in course of collection 94,769.86

Premiums collected during year S 549,774.09

Deduct ro-insurance, abatement, rebate and return premiums 68,093.91

$ 486,680.18



Net cash received for premiums .-. 486,680.18

IntereBt on real estate $ 5,348.25

Interest on collateral loans 13,307.75

Interest on bonds and dividends on stocks 29,612.80

Profit on sale or maturity of ledger assets 1,590.65

Exchange 4.40

From all other sources 8,073.53

Total income 539,617.56

Aggregate last balance and income $ 2,093,713.99

DISBURSEMENTS.

FiDKLITT AMD
SURKTT.

Gross amount paid for claims, excepting weekly indemnity -..^$ 218,024.13
Deduct re-insurance and salvage 42,998.39

S 170,030.74



Net paid policy-holders $ 170,030.74

Stockholders for interest or dividend (amount declared during

the year. $80,000.00) $ 80,000.00

Commission on brokerage to agents, less received on re-insur-
ance . 108,342.49

Salaries, traveling and all expenses of agents and agencies not

on oomminsion account 32,727.11

Inspections, $333.32; interest, $815.48 1,148.80

Salaries and all other compensation of officers and Home Office

employees . . — «- 53,484.23



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Fidelity and Casualty Insurance Companies. 357

Taxes oo premium^ 16,595.49; taxes on property, $14,429.15; In-

sarance Department fees and agents* licenses, $10,929.36;

municipal I ice nsen, $763.04 . $ 32,7(/7.04

Rent ($8,316.88 for company's use of building) 8,316.88

Legal expenses —_ 10,985.00

Furniture and fixtures, $t,616.66; advertising, $11,960.87; printing

and stationery, $7,636.26 24,212.69

Losses on investments 9,510.22

All other 23,726.38

Total miecellaneoue expenses $ 386,168.84

Total disbursements — I 666,189.68

Balance - $ 1,638,524.41

ASSETS.

A8 PBB LEDGER ACCOUNTS.

Book value of real estate $ 27,131.91

Loans on mortgages 111,809.63

Loans on collaterals ,. 148,020.61

Book value of stocks and bonds 1,092,734.16

Casli in company's office 8,798.79

Gasli in bank 89,267.47

All other items 112,697.96

Total .- $ 1,690,360.63

Deduct ledger liabilities -* — 61,836.12

Total net ledger assets $ 1, 638, 624. 41

OTHER ASSETS.

Total outstanding interest and rents 23, 170. 28

Market value of bonds and stocks over book value 13, 032. 28

Gross premiums in couri»e of collection—

Umpaid Com-
Pbemiums. missions. Nr.

Fidelity and Surety $ 94,769.86 $ 17,642.64 $ 77,127.82

Net amount of outstanding premiums 77, 127.32

Totol admitted assets $ 1,661,864.29

LIABILITIES.

Known oe Esti-
MATBD, Paoors
Not Filkd.
Fidelity and Surety $ 60,983.67

Aggregate and unpaid claims and expenses $ 60,983.67

On rislts running one year or less—

Umkasnkd Por-
tion (60 per ot).
Fidelity and Surety pre-
miums $ 621,316.68 $ 260,667.82

Total one year or less $ 260,667.82

Total unearned premiums as computed above (carried out) 260, 667. 82

All other liabilities— agents' credit balances 4, 913. 76

Total amount of all liabilities, except cash capital and net

surplus - — - $ 326,666.14



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358 Fidelity and Casualty Insurance Companies.

Cash capital.- $ 1,000,000.00

Net surplus j — - 325, 300. 15

Total liabilities, including cash capital and net surplus $ 1, 651, 855. 29

RISKS AND PREMIUMS.

, SURETY.

El0KS. PREMinMS.

In force December 31, 1900 S 96,986,390.58 S 425.805.78

Written during 1901 127,822,010.09 570,717.64

Total 9 224,808,400.67 9 996,528.32

Deduct expirations and cancellations 102,816,637.77 466,764.44

Balance S 121,992,762.90 $ 529,758.88

Deduct re-insured policies 8,443.25

Net amount in force at end of year 9 121,992,762.90 9 621,315.63

BUSINESS IN NORTH CAROLINA DURING YEAR.

Risks Premiums U^ks Amt. at Risk

Writtkn. Reckiyrd. Losses Paid. Incurred. End or Year.

Surety I 2,721,117.87 9 9,552.73 S 1,308.07 S 1,53».07 $ 2,665,243.75

Aggregate $2,721,117.87 $ 9,652.73 $ 1,308.07 $ 1,533.07 $2,565,243.75



THE AMERICAN CREDIT-INDEMNITY COMPANY OF

NEW YORK.

Located at New York City.

Incorporated April 28, 1893. CJommenced Business May 1, 1893.

S. M. Phelan, President E. M. Treat, Secretary.



Cash capital, $200,000. ,
Amount of net ledger assets December 31, 1900 $ 547, 516. 54

INCOME.

Credit.

Premiums unpaid December 31, last year paid $ 24,060.00

Premiums written and renewed during year 955,516.55

Total $ 979,576.56

Deduct premiums now in course of collection 44,680.00

Premiums collected during year $ 934,896.55

Deduct re-insurance, abatement, retmte and return premiums 3,157.37

$ 931,739.18

Net cash received for premiums 931, 739. 18



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Fidelity and Casualty Insurance Companies. 359

Interest on bonds 8 8,287.60

Interest on other debts due the company 4,994.41

From all other sources 3,828.28

Total income $ 948,844.32

A.ggregate last balance and income $ 1, 496, 360. 86

DISBURSEMENTS.



i



Cbkdit.



OroM amount paid for losseit - $ 226,674.60

Net paid policy-holders 225,574.50

Stockholders for interest or dividends $ 28,000.00

Salaries, traveling and all expenses of agents and agencies not

on commission account 27«,661.32

Salaries and all other compensation of offioerfi, $22,820.00; Home

Office employees, $21,417.16 48,737.16

Taxes on premiums, $7,648.76; war stamps, $2,015.83; Insurance

Department fees and agents* licenses, $2,784.28 12,348.87

Rent for company*8 use of building 8,643.63

Legal expenses 7,932.61

Advertising, $16,600.61; printing and stationery, $1,216.30 19,816.91

All other 22,618.31

Total miscellaneous expenses - 419,447.60

Total disbursements $ 646,022.10



Online LibraryNorth Carolina. Dept. of InsuranceAnnual report of the Insurance Commissioner of the State of North Carolina ... → online text (page 31 of 38)