North Carolina. Dept. of Insurance.

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

. (page 34 of 38)
Online LibraryNorth Carolina. Dept. of InsuranceAnnual report of the Insurance Commissioner of the State of North Carolina ... → online text (page 34 of 38)
Font size
QR-code for this ebook


Cash capital, $500,000.

Amount of net ledger assets December 31, 1900 $ 1,463,969.13

INCOME.

FiDKLITY AND
bUBKTY.

Premiums unpaid December 31, last year paid $ 49,996.02

Premiums written and renewed during year 766,846.89

Total _ $ 816,841.91

Deduct premiums now In course of collection 60,242.89

Premiums collected during year . $ 766,S99.02

Deduct re-innurance, abatement, rebate and return premiumn 116,770.46

$ 649,828.66



Net cash received for premiums * 649, 828. 56

Interest on real estate $ ^1.36

Interest on collateral loans 73,66

Interest on bonds and dividends on stocks 40,231.66

Interest on other debts due the company 1,586.68

From all other sources 206.02



Total income 692,385.85

Aggregate last balance and income $ 2, 166, 354. 98

DISBURSEMENTS.

Fidelity and

SUEETY.

Gross amount paid for claims, excepting weekly indemnity $ 232,844.07

Total $ 232, 844. 07

Deduct re-insurance and salvage 57,083,66



Net paid policy-holders 176, 760.51

Stoclcholders for interest or dividends $ 50,000.00

Commission on brokerage to agents, less received on re-insurance, 67,897.31

Salaries, traveling and all expenses of agents and agencies not

on commission account 66,827.27

Gompenf>ation of resident vice-presidents and consulting attor-

Salaries and all other compensation of officers, $21,282.92; Home

Office employees, $101,390.16 122,623.08

Taxes on premiums, $6,912.02; taxes on property, $6,632.47; In-
surance Department fees and agents* licenses, $3,976.75;
municipal licenses, $669.78; tax on franchise, $532.25 18,723.17



Digitized by



Google



Fidelity and Casualty Insurance Companies. 387



Rent $ 12,391.68

Legal ezpeDses, $18,677.68; real estate repairs and expenses

(other than texes), $1,613.68 20,191.26

Printing and 8tatfon«>ry 21,818.32

Losses on ledger assets, actually sold or matured under book

value 421.35

All other 82,192.73

Total miscellaneous expenses $ 464,581.59

Total disbursements - $ 640,342. 10

Balance $ 1,516,012.88

ASSETS.

AS PER LEDGER ACCX)UNTS.

Book value of real estate $ 91,775.00

Book value of stocks and bonds 1,213,965.76

Cash in company's office 3,669.96

Cash in bank 166,720.26

All other items 39,891.92



Total $ 1,516,012.88

Total net ledger assets $ 1,516,012.88

OTHER ASSETS.

Total outstanding interest and rents 7,554.16

Gross premiums in course of oolleotion—

Unpaid
Pbbmiitmb. ComiissioNS. Nrr.

Fidelity and Surety $ 48,998.11 $ 4,899.81 $ 44,098.30

Net amount of outstanding premiums 44, 098. 30

Gross assets ^ $ 1,567,665.34

Deduct assets not admitted —

Furniture, fixtures and supplies $ 27,005.83

Tax bills 142.07

All other 21,476.25

Total deductions 48,624.15

Total admitted assets $ 1,519,041. 19

LIABILITIES.

Rrsistkd by
Company oh
In Psocrss or its Own
Adjustmknt. Account.
Fidelity and Surety $ 24,319.19 $ 36,602.69

Net amount of unpaid claims $ 24,319.19 $ 36,602.69

Aggregate and unpaid claims and expenses $ 60, 821. 88

On risks running one year or less —

Unearned

POBTION

(50perct.).
Fidelity and Surety premiums.^ 617,705.61 $ 308,862.80

Total one year or less $ 308,862.80

Total unearned premiums as computed above (carried out)... 308, 852. 80

Digitized by CjOOQIC



388 Fidelity and Casualty Insurance Companies.

For re-insuraDce $ 734.75

Special reserve for coDtingent claims - -— 21,000.00

All other liabilities, viz.: trust funds, etc 85, 497. 25

Total amount of all liabilities, except cash capital and net

surplus $ 476,546.68

Cash capital - — — - — 500,000.00

Net surplus — - 542,494.51

Total liabilities, including cash capital and net surplus $ 1, 519, 041. 19

RISKS AND PREMIUMS.

FIDELITY.

Risks. Pekmioiis.

In force* December 31, 1900 $ 92,610,661.00 $ 298,943.22

Written daring 1901 ^ 128,261,560.00 466,728.16

Total $ 220,r72,211.00 $ 766,666.87

Deduct ezpirfttions and cancellations ; 98,406,484.00 418,366.29

Balance $ 122,366,727.00 $ 837,301.12

Deduct re-intured policies 6,398,198.00 16,113.88

Net amount in force at end of year $ 116,967,629.00 $ 322,187.29

SURETY.

Risks. Pbcmiuiis.

In force December 31, 1900 $ 86,668,776.00 $ 229,031.74

Written during 1901 113,949,411.00 310,122.74

TbUI $ 200,608,187.00 $ 689,164.48

Deduct expirations and cancellations 68,614,879.00 230,246.80

Balance $131,893,308.00 $ 308,908.68

Deduct re-insured policies 2,179,399.00 13,390.36

Net amount in force at end of year $ 129,713,909.00 $ 295,618.32

BUSINESS IN NORTH CAROLINA DURING YEAR.

Risks Pbkmiums Lossks Amt. at Risk

Wbittbn. Rkckiykd. Lossm Paid. Incvkrbd. End or Year.

Fidelity and Surety $1,293,860.00 $ 5,366.90 $ 416.43 I 416.43 $1,604,374.00



Digitized by



Google



Fidelity and Casualty Insurance Companies. 389

NEW YORK PLATE-GLASS INSURANCE COMPANY OF

NEW YORK.

Located at New York, N. Y.

Incorporated March, 1891. Commenced Bnsiness March 19, 1891.

Max Danzigbr, President. Major A. Whitb, Secretary.



Cash capital, $100, 000.

Amount of net ledger assets December 31, 1900 — ( 326, 970. 76

INCOME.

Plate-glass.

Premiums unpaid Docember 31st, last year paid $ 48,995.46

Premiums written and renewed during year 832,317.16

Total $ 881,312.62

Deduct premiums now in course of collection 50,112.36

Premiums collected during year $ 881,200.27

Deduct re-insurance, abatement, rebate and return premiums — 60,725.20

$ 270,476.07

Net cash received for premiums - 270,475.07

Interest on bonds and dividends on stocks $ 11,666.60

From inspection fees 2,175.00

Total income 284.216.67

Aggregate last balance and income $ 611,874.43

DISBURSEMENTS.

Plate-olass.
Gross amount paid for claims, excepting weekly indemnity $ 111,039.42



Total . $ 1 1 1 , 039. 42

Deduct re-insurance and salvage 6,843.43

8 104,196.99



Net paid policy-holders 104,195.99

Stockholders for interest or diTidends (amount declared during

the year, 10 per cent I 10,000.00

Commission on brokerage to agents, less received on re-insur-
ance 86,345.57

Salaries, traveling and all expenses of agents and agencies not on

commission account 6,739.89

Salaries and all other compensation of oflBcers, $10,910.00; Home

Office employees, $17,368.67 28,208.67

Taxes on premiums, $3,700.94; Insurance Department fees and
agents' licenses, $4,684.79; municipal licenses, $783.24; reve-
nue tax, $981. 55 10,100.62



Digitized by CjOOQ IC



390 Fidelity and Casualty Insurance Companies.



Rent $ 3,369.92

Legal ezpeoses 121.44

Furniture and fixtures, $561.25; advertlMing, $147.20; printing

and stationery, $2,008.89 2,717.84

All other 9,474.09

Total miscellaneous expenses $ 157, 137. 44

Total disbursements -* $ 261,333.43



Balance $ 349, 854. 00

ASSETS.

AS PBR LEDGER ACCX)UNT8.

Loans on mortgages $ 2,000.00

Book value of stocks and bonds 326,026.74

Cash In company's office 3,856.46

Cash In bank 17,972.80



Total net ledger assets $ 349,854.00

OTHER ASSETS.

Total outstanding interest and rents 89. 50

Market value of stocks and bonds over book value 60, 509. 26

Gross premiums in course of collection —

Unpaid
Pbemivms. Commissions. Net.

Plate-glass $ 48,774.08 $ 16,607.70 $ 33,166.38

Net amount of outstanding premiums 33, 166.38

Total admitted assets $ 443, 619. 14

LIABILITIES.

In Pbocess of
Adjustment.

Plateglass $ 8,234.84



Net amount of unpaid claims $ 3,284.84

Aggregate and unpaid claims and expenses $ 3, 234. 84

On risks running one year or less—

Unearned Por-
tion (50 per ct).
Plate-glass premiums $ 267,994.66 $ 133,997.27

Total one year or less $ 138,997.27

On risks running more than one year—

Unearned Pre-
miums (Pro rata).
Plate-glass premiums $ 8,798.39 $ 4,783.93

Total more than one year . 4,783.93

Total unearned premiums as computed above (carried out)-.. 138, 781. 20

Unpaid dividends to stockholders 5,000.00

Salaries, rent, expenses, taxes, etc 517.33

For return premiums 1,671.55

Total amount of all liabilities, except cash capital and net

surplus ( 149,204.92



Digitized by



Google



Fidelity and Casualty Insurance Companies. 391

Cash capital— — $ 100, 000. 00

Net surplus— - 194,414.22

Total liabilities, including cash capital and net surplus $ 443, 619. 14

RISKS AND PREMIUMS.

PLATE-GLASS.

Risks. PsxitruMS.

In force December 31, 1900 $ 11,494,616.00 $ 264,640.99

WrfiteD during 1901 18,488,718.00 332,317.16

Total $ 24,983,234.00 $ 686,868.16

Deduct expirations and cancellations 18,614,492.00 310,066.21

Balance 3 11,368,742.00 $ 276,792.94

Net amount in force at end of year $ 11,368,742.00 $ 276,792.94

BUSINESS IN NORTH CAROLINA DURING TEAR.

Risks Prkmiums Losses Amt. at Risk

Writtkm. Rbcbited. Losses Paid. Incobrbd. EndofYbar.

Plate-glass $ 18,814.96 $ 611.38 $ 221.63 $ 86.63 3 18,814.96



THE PENNSYLVANIA CASUALTY COMPANY OF
PENNSYLVANIA.

Located at Scran ton, Pa.

Incorporated September 11, 1899. Commenced Business December 11, 1899.

W. W. Watson, President. F. H. Kingsbury, Secretary.



Cash capital, $100,000.

Amount of net ledger assets December 31, 1900 $ 136.259.61

INCOME.

Ekplot. ^»J/-

ACCIDBNT. BI"TT. q^^^

Premlams unpaid December 31, last year paid $ 818.71 $ 6,208.86 $4,300.60

Premianas written and renewed during year 39,976.37 19,620.66 312.50

ToUl $ 34,794.08 $ 24,829.41 $ 4,613.00

Deduct premiums now in course of collection 13,804.63 '6,336.62 4,220.oo



Premiums collected during year $ 20,989.46 $ 19,493.79 $ 393.00

Deduct re-insurance, abatement, rebate and

return premiums 208.68 199.81

$ 20,780.77 $ 19,298.98 $ 393.00



Digitized by



Google



392 Fidelity and Casualty Insurance Companies.

Elk- Plats- Stkam-

tatob. glass. boiljcb. hsalth.
Premiams unpaid December SI, last

year paid I 37.50 | 39.99 $ 1,710.92 $ 1,908.60

Premiums written and renewed dur-
ing year 1,460.00 1,386.37 4,569.41 22,710.60

Total $ 1,497.60 | 1,396.36 | 6,280.33 $ 24,619.00

Deduct premiums now in course of

collection 467.26 681.01 1,814.06 6,996.97

— ^— .^_ — ^__— __ ^_-_^_ __— ^— «

Premiums collected during year 9 1,040.25 9 816.36 $4,466.27 9 18,622.03

Deduct re-insurance, abatement, re-
bate and return premiums 11.25 25.86 99.96 162.^

9 1,029.00 9 789.49 9 4,366.82 9 18,469.21

Net cash received for premiums 1 65, 121. 77

Interest on collateral loans — $ 314.79

Interest on bonds and dividends on stocks 646.00

Interest on other debts due the company 3,017.01

From all other sources 81,636.00

Total income 100,635.57

Aggregate last balance and income — - ___ 1 236, 895. 18

DISBURSEMENTS.

A^.».»» Emplotbrs' Comb. F. ahd
AooiMKT. Liability. Wobk Coll.
Gross amount paid for claims, ex-
cepting weelily indemnity 9 760.00 9 14,348.32 9

Gross amount paid for weekly or

other periodical indemnity 6,139.14 i 690.76

Total 9 6,889.14 14,348.32 690.76

9 6,889.14 9 14,348.32 9 690.76

Platb-olass. Health.

Gross amount paid for claims, excepting weekly in-
demnity 9 38.66 9

Gross amount paid for weekly or other periodical

indemnity 10,846.91

Total 9 33.56 9 10,846.91

Net paid policy-holders 32,708.68

Commission on brokerage to agents, less received on re-insurance .J$ 17,784.85
Salaries, traveling and all expenses of agents and agencies not on

commission account -_ 4,444.49

Medical examiners* fees and salaries, 9777.04; inspftctions, 91,402.00. 2,179.04
Salaries and all other compensation of officers, 95,626.00; Home

Office employees, 93,369.67 8,994.67

Taxes on premiums, 9>^13.49; Insurance Department fees and agents'

licenses, 91,144.96 1,658.46

Rent 900.00

Legal expenses 3,648.54

Furniture and fixtures, 8156.00; advertising, 91.710.34; printing and

stationery, 92,246.99 4,112.38

All other 2,532.04

Total miscellaneous expenses 46,254.41

Total disbursements — - - $ 78,963.09



Balance $ 157,932.09



Digitized by



Google



Fidelity and Casualty Insurance Companies. 393
ASSETS.

AS PEB LEDGER ACCOUNTS.

Loans od collAterals - , I 2,4A0.00

Book value ofiitockfi and bonds 13,000.00

CaJ»h in company's office 1,920.11

Cash in bank 36,944.73

Bills recelTable, Sl,418.38 ; agents* debit balances, $2,592.90 4,011.28

All other items— deposit with Insurance Department of Penn 100,000.00

Total 1 158,326.12

Deduct ledger liabilities- 394.03

Total net ledger assets - 1 157, 932. 09

OTHER ASSETS.

Total outstanding interest and rents 218.26

Market value of bonds and stocks over book value 3, 150. 00

Gross premiums in course of collection—

Unpaid

Premiums. Commissions. Net.

Accident I 13,420.08 $ 4,884.03 | 9,086.06

Employers* liability 6,335.62 1,214.47 4,121.15

Elevator 467.26 119.80 337.46

Plate-glass 681.01 184.09 396.92

Steam-boiler 1,696.66 444.68 1,261.98

Health 6,996.97 2,082.46 8,914.61

Net amount of outstanding premiums — 19,058.06

Grossassets $ 180,358.41

Deduct as.«et8 not admitted-
Agents' debit balances unsecured S 670.72

Bills receivable unsecured ,_ 800.00

All other 1,200.00

Total deductions 2,570.72

Total admitted assets $ 177,787.69



LIABILITIES.




Claims Ad-
justed and InPeooessof
Not Paid. Adjustment.


Known or

Estimated,

Prooph Not

Filed.


Accident _ _^ 2ft7,lfi


$ 734.00


Employers' liability 2,166.00 4,826.00

Plate.glass» 87.60






Steam-boiler


23.60


Hftttlth , Mfi.Oft 23.«i.71


170.67



Netamountof unpaid claims $ 2,995.83 S 5,061.71 $ 2,459.17

Resisted Bt Estimated

Company ox Expenses In-
Its Own cident to

Account. « Settlement.

Employers' liability 9 2,600.00 S 325.00

Steam-boiler 200.00 25.00



Netamountof unpaid claims S 2,700.00 S 350,00

Aggregate and unpaid claims and expenses $ 13, 566. 61



Digitized by



Google



394 Fidelity and Casualty Insurance Companies.

On risks ruDDing one year or le





Portion (50
per ct.)-




30,203.44


$ 16,101.72




17»039.68


8,619.84




1,343.00


671.60




1,062.76


631.38




2,477.26


1,238.62




23,876.00


11,887.60






9

Unbarhed
Premiums
(Prorata).


37,900.56


289.84


$ 249.00




4,941.00


3,176.38




379.60


2»2.82










3,658.16



Accident premiums $

Employers' liability premiums

Elevator premiums

Plate-glass premiums

Steam-boiler premiums

Health premiums

Total one year or less

On risks running more than one year—



Plate-glass premiums $

Steam-boiler premiums

Elevator premiums

Total more than one year

Total unearned premiums as computed above (carried out) $ 41, 558. 71



Total amount of all liabilities, except cash capital and net

surplus — — $ 55,125.42

Cash capital 100,000.00

Net surplus 22,662.27

Total liabilities, including cash capital and net surplus.- $ 177, 787. 69

RISKS AND PREMIUMS.

ACCIDENT.

Amount at Premiums

Risk. Thereon.

In force December 31, 1900 $3,280,700.00 $ 9,716.96

Written during 1901 '6,302,666.00 41,n7.44

Total $ 9,683,366.00 $ 61,4W.39

Deduct expirations and cancellations 2,694,016.00 21,290.95

Balance I 6,889,360.00 | 80,203.44

Net amount in force at end of year $ 6,889,350.00 S 30,203.44

employers' liability.

Risks. Premiums.

In force December 31,1900 I 1,065,000.00 I 62,864.03

Written during 1901 .. 1,524,600.00 2«i,618.76

ToUl $ 2,689,600.00 S. 88,482.78

Deduct expirations and cancellations 1,247,000.00 66,443.10

Balance $ 1,342,600.00 $ 17,039.««

Net amount in force at end of year S 1,842,600.00 $ 17,039.68

ELEVATOR.

Risks. Premiums.

In force December 31, 1900 I 160,000.00 $ 818.00

Written during 1901 : 360,000.00 1,647.00

Total $ 510,000.00 I 2,866.00

Deduct expirations and cancellations 160,000.00 643.00

Balance $ 360,000.00 $ 1,722.60

Net amount in force at end of year $ 360,000.00 $ 1,722.60



Digitized by



Google



Fidelity and Casualty Insurance Companies, 395^

COMB. ACC. AND ILLNESS AND WOBK COLL.

Risks. Premiums.

In force December 31,1900 | 26,800.00 S 6^301.62

Written during 1901 1,700.00 312.60

Total ^ I 28,600.00 $ 6,614.02

Dedact expirations and cancellations 28,600.00 5,614.02

PLATE-GLASS — CONTINGENT LIABILITY.

Premiums.

In force December 31, 1900 $ 89.99

Written during 1901 1,610.06

Total S 1,660.04

Deduct expirations and cancellations 197.44

Balance S 1,352.60

Net amount in force at end of year f 1,352.60



STEAM-BOILER.

Risks. Premiums.

In force December 31, 1900 $ •626,600.00 $ 3,667.47

Written during 1901 1,266,400.00 6,336.66

Total 1 1,781,900.00 $ 8,903.13

Deduct expirations and cancellations 341,600.00 1,484.88

Balance $1,440,400.00 $ 7,418.26

Net amount in force at end of year $ 1,440,400.00 $ 7,418.26

HEALTH— WEEKLY INDEMNITY.

Premiums.

In force December 81, 1900 $ 7, 126.36

Written during 1901 26,097.70

Total $ 83,223.06

Deduct expirations and cancellations 9,648.06^

Balance S 23,676.00

Net amount in force at.end of year $ 23,676.00

BUSINESS IN NORTH CAROLINA DURING YEAR.

Amt. at

Risks Premiums Losses Losses Risk End

Written. Received. Paid. Incurred. op Year.

Accident S 169,000.00 $ 200.66 $ 116.71 $ 166.71 $ 169,000.00

Employers' liability 140,000.00 616.03 140,000.00



Plate-glass— contingent liability 126.63

Health— weekly indemnity 928.00 238.17 868.88



Aggregate S 309,000.00 $ 1,796.11 $ 348.88 $ 614.69 $309,000.00



Digitized by



Google



596 Fidelity and Casualty Insurance Companies.

PREFERRED ACCIDENT INSURANCE COMPANY
OF NEW YORK.

Located at New York, N. Y.

Incorporated March 3, 1893. Commenced Business May 6, 1S93.

Phinbas C. Loundsburt, President. Kimball C. Atwood, Secretary.



Gash capital, $200,000.
Amount of net ledger assets December 31, 1900 1 875, 422. 21

INCOME.

AcciDKirr

Premiums unpaid December 31, last year paid $ 126,500.00

Premiums written and renewed during year l,14r,854.18

Total $ 1,268,351.18

Deduct premiums now in course of collection 135,676.00

Premiums collected during year I 1,132,779.18

Deduct re-insurance, abatement, rebate and return premiums 5,288.76

$ 1,127,490.42

Net cash received for premiums . 1, 127, 490. 42

Interest on bonds and dividends on stocks $ 20,388.15

Total income - 1, 147, 878. 57

A^ggr^gate last balance and income $ 2, 023, 300. 78

DISBURSEMENTS.

ACCIDKICT.

Gross amount paid for claims, excepting weekly indemnity ^$ 149,606.91

-Gross amount paid for weekly or other periodical indemnity 818,606.96

I 468,806.87

Net paid policy-holders 463,305.87

stockholders for interest or dividends $ 12,000.00

-Commission on brokerage to agents, less received on re-insur-
ance 354,876.62

6alarlef>, traveling and all expenses of agenu and agencies not

on commission account 42,867.25

Medical examiners* fees and salaries, $19,860.75; inspections,

$3,157.60 28,008.26

Salaries and all other compensation of officers, $24,000; Home

Office employees, $62»875.60 76,876.60

Taxe<* on premiums, $10,676.33; Insurance Department fees and
agents* licenses, $7,098.25; municipal licenses, $1,275.26; tax
on franchise, $1,687.50 , 20,581.33

Rent 20,676.00

Legal expenses 6,471.84

Furniture and fixtures, $1,922.92; advertising, $23,650.25; printing

and sUtionery, $26,740.26 62,313.42

All other 40,864.20

Total miscellaneous expenses — 649,531.91

Total disbursements — $ 1,112,837.78

Balance 1 910,463.00



Digitized by



Google



Fidelity and Casualty Insurance Companies. 397



ASSETS.

AS PER LBDOBR ACCOUNTS.

Book Tftlae of stocks and bonds $ 669,581 .24

Gash in company's otUoe : 9,218.71

Cash In bank 150,846.42

All other items— agents* debit balances 81,367.63

Total net ledger assets $ 910,463.00-

OTHER ASSETS.

Total oatstanding interest and rents 3, 790. 74

Market value of bonds and stocks over book value 31, 206. 26-

Gross premlams in coarse of collection— '

Unpaid

PailllUiaS. COMMIBSIOMS. N£T.

Accident $ 136,576.00 $ 40,672.60 $ 94,902.60

Net amount of outstanding premiums 94, 902. 50-

Gross assets 1 1,040,362.50-

Deduct assets not admitted-
Agents' debit balances unsecured ., f 81,367.63

Total deductions ZITZU 81,367.63

Total admitted assets - $ 958,994.87



LIABILITIES.

Known ob Rksistki) bt

estimatsd, compant ok
In Process op Pboops not its Own

Adjustment. Filed. Account.

Accident $ 17,726.00 $ 31,176.00 S 37,760.00



Net amount of unpaid claims $ 17,726.00 | 31,176.00 $ 87,760.00

Aggregate and unpaid claims and expenses $ 86, 650. 00

On risks running one year or le



Unsabmed

POBTION

(60perct.).

Accident premiums $ 826,764.10 $ 412,877.06

Special premium reserve on installment

policies 68,988.64

Total one year or less $ 481,860.69

Total unearned premiums as computed above (carried out) - . 481, 860. 69

Total amount of all liabilities, except cash capital and net

surplus $ 568,510.69

Cash capital 200,000.00

Net surplus 190,484.18

Total liabilities, including cash capital and net surplus $ 958, 994. 87



Digitized by



Google



-398 Fidelity and Casualty Insurance Companies.

RISKS AND PREMIUMS.

ACCIDENT.

Amoukt at Pbbmiws

Risk. Thbbbox.

In force December 31, 1900 f 401,449,000.00 $ 801,049.24

Written during 1901 680,760,000.00 1,141,854.18

Total $ 982,199,000.00 $ 1,942,903.42

Deduct expirations and cancellations 669,523,(K)0.00 1, 117, 149.38

Net amount in force at end of year I 412,676,000.00 | 826,754. 10

BUSINESS IN NORTH CAROLINA DURING TEAR.

Ri9K8 Premiums Losses Amt. at Risk

Wbittbn. Received. Losses Paid. Ikcubbed. End or Tbab.

Accident $ 2,726,000.00 $ 5,270.00 S 1,491.09 $ 1,626.09 $ 2,076,000.00



STANDARD LIFE AND ACCIDENT INSURANCE COMPANY

OF MICHIGAN.

Located at Detroit, Mich.

Incorporated May 29, 1884. Commenced Business August 4, 1884.

D. M. Ferry, President. E. A. Leonard, Secretary.



Cash capita], $250, 000.

Amount of net ledger assets December 31, 1900 - $ 965, 571. 92

INCOME.

Employees'
AcciDXNT. Liability. Health.

Premiums unpaid December 31, last

year paid $ 167,434.47 $ 60,066.09 9 21,920.96

Premiums written and renewed

during year 848,443.33 613,426.56 101,336.97

Total $ 1,015,877.80 $ 673,480.65 $ 123,267.93

Deduct premiums now in course of

collection 130,895.78 56,669.24 25,908.03

Premiums collected during year $ 884,982.02 $ 616,821.41 | 97,349.90

Deduct re-insurance, abatement, re-
bate and return premiums 18^562.85 61,672.24 22,296.26

S 704,419.17 S 466,249.17 $ 76,053.64

Net cash received for premiums 1,244,721.98

Interest on real estate 17,316.54

Interest on bonds and dividends on stocks 21,787.08

Interest on other debts due the company 1,661.18

Total income 1,285.979.96

Aggregate last balance and income - 1 2, 241, 561. 88

Digitized byCjOOQlC



Fidelity and Casualty Insurance Companies. 399



DISBURSEMENTS.

Employers*
Accident. Liability. Health.

Gross amount paid for clafms, ex*

cepting weekly indemnity $ 93,421.67 $ 26,726.00 $

OrosB amount paid for weekly or

other periodical indemnity 203,286.26 156,871.72 87,633.04

Total $ 296,707.93 $ 183,696.72 S 37,633.04

Deduct re-insurance and salvage 2,264.23 6.50

$ 294,463.70 $ 18:3,691.22 $ 37,633.04

Net paid policy-holders $ 515,677.96

stockholders for interest or dividends S 28,760.(K)

Commission on brokerage to agent$<, less received on re-insur-
ance - 341,773.99

Salaries, traveling and all expenses of agents and agenoieH not

on commission account 46,f.07.6o

Medical examiners' fees and salaries, $2,642.00; inspections,

$12,436.26 14,978.25

Salaries and all other compensation of officers, f 12,000 OO; Home

Office employees, $41,993.32 63,998.82

Taxes on premiutns, $20,636.06; taxes on property, $7,221.02; In-
surance Department fees and agents' licenses, $4,731.44;
municipal licenses, $1,365.19; tax on iranchlse, $1,206.00 35,148.71

Rent 8,396.34

Legal expenses, $4,406.64; real estate repairs and expenses (other

than taxes), $20.32 4,426.88

Furniture and fixtures, $769.37; advertising, $4,989.38; printing

and stationery, $8,146.11 13,894.86

All other 32,646.60

Total miscellaneous expenses - - - 579,616.53

Total disbursements $ 1,095,294.49

Balance $ 1,146,257.39

ASSETS.

AS PER LEDGER ACCOUNTS.

Book value of real estate $ 69,970.88

Loans on mortgages 382,287.00

Book value of stocks and bonds 693,266.42

Cash in company's office 176.00

Cash in bank 99,924.22

Bills receivable, $116.00; agents' debit balances, $176.11 291.11

All other Items 362.76

Total net ledger assets -—I 1,146,257.39

OTHER ASSETS.

Total outstanding interest and rents - 13,520.77

Market value of bonds and stocks over book value 17, 049. 58



Digitized by



Online LibraryNorth Carolina. Dept. of InsuranceAnnual report of the Insurance Commissioner of the State of North Carolina ... → online text (page 34 of 38)