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Wisconsin. Dept. of Insurance.

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UNDERWRITING EXPENSES.

Underwriting expenses paid dunnp"
the year I

Deduct underwriting expenses unpaid
Dec. 31 of previous year



Balance

Add underwriting expenses unpaid
Dec. 31, end of the year



Underwriting expenses incurred dur
ing the year ,



$407,877 4l|.
I



58,050 00'.



$349,827 41
67,739 00



,574 01



487 55|.



$684,061 56



I

$384.360 701.

I

3.500 001.

-I



$417,566 41'.

I

I



$380,860 701.
I
3.500 00!.



384.360 70



Underwriting losses and expenses

Gain from underwriting during the]
year



.1.



801,927 11



-"lyitized by



$117. 86g 65

Google



QtEARD im& A MARIKE iKS. CO.



.4d3



UNDERWRITING AND INVESTMENT EXHIBIT— Continued.



INVESTMENT EXHIBIT.
Interest and Rents.

Interest, dividends and rents received
during the year ,

Deduct interest, dividends and rents
due and accrued Dec. 81, end of
the year



Balance

Add interest, dividends and rents due
and accrued Dec. 31, end of the
year



Total



$111,06(1 68
27,842 98



$88,253 60
25.829 71



.1.



PROFIT ON INVESTMENTS.

Gain from increase in boolc value of
ledger assets



Investment Income earned during the
year



LOSS ON INVESTMENTS.



Loss from sale of ledger assets . . .

Loss from decrease In book value of
ledger assets

Loss from change in difference be-
tween book and market value dur-
ing the year



Loss on Investments during the year

INVESTMENT EXPENSES.

Investment expenses paid during the
year



Investment Ipsses and expenses dur-
ing the year



Gain from investments during the



year



$979 77
1,884 28

24.469 48



$108,788 31



2,721 85



$26,883 53



15.561 55



MISCELLANEOUS EXHIBIT.



Dividends declared to stockholders

during the year

Gain from other sources



Net loss from above



I



Total gains and losses in surplus]

during the year

Surplus Dec. 81. 1912 $489,752 20

Surplus Dec. 31, 1913 f 291.382 83

Decrease In surplus during the year).

ToUls



Gain in
Surplus.



$386 55



».110 18



148,369 87



$217,480 00



$111,506 21



42.895 08



»,U§ 18



Loss in
Surplus.

$100,000 00



$99,614 45



$217,480 00



$217,480 00



Per cent of losses incurred to premiums earned 61.06.
Per cent of underwriting expenses incurred to premiums earned 56.22.
Per cent of investment expenses incurred to interest and rents earned 14 30
Per cent of total lonffen and expenses incurred and dividends declared to
total income earned 116J».



Digitized by



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4S|4 gLe^ts palLs li^B. dO.

OLBNS FALLS INSUBANCE C0MPAN7,

Glens Palls, N. Y.

Home Office, GLBNS FALLS.

(Incorporated 1849; commenced business 1850; admitted 1874.]

President, J. L. CUNNINGHAM. Secretary, E. W. WEST.

Vice President, R. A. LITTLE.

CAPITAL STOCK.

Amount of capital paid up in cash $500,000 00

Ledger assets December 81 of previous year $5,668,179 67

INCOME.

Gross premiums $2,971,656 75 $131,137 81

Deduct reinsurance premiums. Are,

$418,862.78; marine and inland, $10,-

845.23; return premiums, Are, $126,-

010.28; marine and inland, $29,913.29 844,873 06 40,758 52

Total prelnlums (otber tban per-
petual) $2,126,783 60 $90,379 29 $2,217,102 98

Gross interest on mortgage loans $105,954 SI

Gross Interest on bonds and dividends on stocks, less
$1,179.60 accrued interest on bonds acquired dur-
ing the year 152, 112 36

Gross interest on deposits in trust companies and
banks 11 , 964 61

Gross interest from all otber sources: Reinsurance
bureau, $63.39; on real estate contracts, $183.34... 246 73

Gross rents from company's property, including $6,000
/or company's occupancy of its own buildings six
months 12.319 19



Total gross interest and rents 282,597 70

From other sources:

On sale of Northern Pacific R. R. rights $245 00

Prom Union Pacific R. R. syndicate 1.000 00

From unredeemed checks to profit and loss 156 94

1,401 94

From agents* balance previously charged off 346 29

Gross profit on sale or maturity of ledger assets:

Bonds $210 70

Stocks 425 50



Gross increase, by adjustment, in book value of ledger assets:

Bonds $19,695 00

Stocks 22 , 050 00



636 20



41.745 00



Total income $2,543,890 11



Total footings $8,212,069 78



Digitized by



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QtikKs FALLS ms. cx). 495

DISBURSEMENTS.

Marine and
Fire. Inland.

Gross amount paid policyholders for
losses (including $163,559.45 occurring

in previous years) t $1,371,1W 06 $45,192 32

Deduct amount received for salvalge,
Are, $8,126.04; marine and inland,
$598.50; reinsurance, Are, $219,636.18;
marine and inland, $2,455.15; discount,
Are, $425.90 228.188 12 3,053 65

Net amount paid policyholders

for losses $1,143,005 94 $42,138 67

$1,185,144 61

Expenses of adjustment and settlement of losses , 42,441 10

Commissioner or brokerage 469 , 204 82

Allowances to. local agencies for miscellaneous agency expenses... 985 10
Salares, $105,650.72, and expenses, $50,762.70, of special and general

agents 156,413 42

Salaries, fees, and all other charges of officers, directors, trustees

and home office employes 83,423 23

Rents, including $6,000 for company's 6 months occupancy of its

own buildings 6,927 16

Advertising, $3,180.64; printing and stationery, $21,898.31 25,078 95

Postage, telegrams, telephone and express 17, 639 13

Legal expenses , 793 19

Furniture and fixtures 1,410 89

Maps, including corrections 12,574 61

Underwriters' boards and tariff associations 27,967 49

Fire department, fire patrol and salvage corps assessments, fees,

taxes and expenses 10,346 22

Inspections and surveys 12,397 23

Repairs and expenses (other than taxes) on real estate 117 14

Taxes on real estate 6.327 03

State taxes on premiums ."Vi. 480 (V^

Insurance department licenses and fees 10,996 60

All other licenses, fees and taxes:

Federal corporation tax, local and municipal, $5,893.33; pub.
statements, $286.83; federal corporation, $2,830.47; on bond de-
posits, $25.00; on mortgages, $05.75 9 , 101 38

Other disbursements:

Ofllce and miscellaneous expenses not included above 23,543 ,'^2

Furniture and fixtures for new office building to profit and loss 29,401 96

Paid stockholders for Intereat or dividends 185,000 00

Agents' balances charged off 1,908 36

Gross decrease, by adjustment, in book value of ledger assets:

Real estate $175,526 71

Bonds 146.447 50

Stocks 58,930 00



380.904 21
Total disbursements $2,734,527 84



Balance $5,477,541 94



LEDGER ASSETS.

Book value of real estate $218,408 43

Mortgage loans on real estate, first liens 1,894,185 00

Loans secured by pledge of bonds, stocks or other

collateral 60,000 00

Book value of bonds, $2,179,762.82 and stocks,

$323,160.00 ; 2,502,912 82

Cash in company's office $13, 150 88

Deposits in trust compaqles anl banks

on interest 427, 876 56



441.027 44
Agents' balances representing business written sub-
sequent to October 1. 1913 359,850 84

Agents* balances representing business written prior
to Octber 1, 1913 1,148 41



Total ledger assets $5,477,541 94



Digitized by



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496



GtEi^S PALLS Il*S. CO.



NON-LEDGER ASSETS.

Interest due, $8,386.31 aud accrued, $6,715.69 on mort-
tfagCH

Interest due, $4,500, and accrued, $28,414.92 on bonds

Interest accrued on collateral loans

Interest on other assets:

Accrued on deposits

Rents due on company's property or lease

Total 7

Other non-ledger assets:



$13,082 00

32,914 22

259 16

687 50
418 62



Premiums due on losses paid.



47.262 20
1,883 64



Gross assets $5,526,087 78

DEDUCT ASSETS NOT ADMITTED.



Agents* balances, reprcKeutlni? business written prior to October 1,
1913



1.148 41



Total admitted assets $5,525,539 37



LIABILITIES.

Gross losses adjusted and not yet due

Gross claims for losses in process of adjustment or in
suspense, plus $23,160; reserve for losses incurred
prior to December 31 of which no notice had been
received on that date

Gross claims for losses resisted



$19,576 60



189,731 58
36,253 50



Total $245,56174

Deduct reinsurance due or accrued 35,665 74



Net amount of unpaid losses and claims $209,886 00

Gross premiums (less reinsurance) received and re-
ceivable upon all unexpired risks, $4,554,002.23; un-
earned premiums $2,353,345 46

Gross premiums (less reinsurance) (cash and bills)
received aud receivable upon all unexpired inland
navigation risks, $79,760.98; unearned premiums
(fifty per cent) 39,880 49



Total unearned premiums as computed above 2,393.225 ^

Salaries, rents, expenses, bills, accounts, fees, etc., due or accrued.. 3,000 00
Estimated amount hereafter payable for federal, state and other

taxes based upon business of the year of this statement 33.000 00

Reinsurance and return premiums due other companies 17,116 54

All other liabilities : Reserve for dividend 50,000 00



Total amount of all liabilities except capital $2,706,238 49

Capital actually paid up in cash $500,000 00

Surplus over all liabilities 2.319,300 88



Surplus as regards policyholders 2.819.300)



Total liabilities $5,525,539 37



RISKS AND PREMIUMS.



Fire risks.



Gross

p^'emiums

thereon.



Marine

and inland

risks.



Gross

premiums

thereon.



In force December 31, |

1912 1 $493,273,072

Written or renewed in(

1913 1 303,501,893



$4,993,986 36
2,971.656 75



Totals 1 $796,774,965

Deduct expirations and!
cancellations I 268.528,501



I-



$7,965,642 11
2,768,784 50



$3,063,594
6,154,297



$74,490 65
131.137 81



$3,217,891
4,736,921



$205,628 36
116.636 69



In force Decemberl

31, 1913 1 $533,246,374

Deduct amount reln-|
sured | 62.850.931!



$5,196,857 61
642,8.'55 38(



$4,481,970

829,5871



$88,991 67
0.230 09



Net amount in| |

force I $470,380.4431 $4,664,002 23|




6Lsks FALLS ms. CO.



4&7



ttECAPITUIiATION OP PIRB RISKS AND PREMIUMS.



Year
written.


1

! Term.

1


Amount
covered.


Gross

premiums

charged,

less re-

ini»u ranee.


.26


Amount of
premium
unearned.


1913

1912

1913

1911

1912

1913

1910

1911

1912

1913

1909


One year or less —

Two years |

Two years

Three years

Three years

Three years

Four years

Pour years

Four years

Pour years

Five years


196,840,212

2,408.1141

3,941,190

84.960.167

93,417.139

109.500,526

961.369

985.983

1,153,474

1,352,673

13,754,175

14,454.485

15,705.601

15.967,710

18,283,707

352.571


11,103,304 36

25.386 55

33.325 42

759.693 98

821.872 37

919.787 90

8.618 19

10.023 67

10.963 66

12.889 13

166.465 89

173.519 18

189.273 56

190.204 00

204.463 86

3.971 43


1-2

1 4

3-4

1-6

1-2

5-6

1-8

3-8

5-8

7^

1-10

3-10

1-2

7-10

9-10


$551,652 18

6,346 64

24,994 06

126,615 66

410,936 19

766,489 91

1.077 27

3.758 87

6,852 29

11.277 98

16.646 59


1910


" Five years


52,065 75


1911


Five years


94.636 78


1912


Five years


133.142 84


1913


Five years


184,017 47




Over five years ....
Totals


2.725 47




$474,088,826


$4,633,763 21




$2,393,225 95



BUSINESS IN THE STATE OF WISCONSIN DURING THE YEAR.



Gross risks written

Less $687,474 risks can-
celled, and $99,675 re-
insurance in compa-
nies authorized in
Wisconsin



Net risks written | $2,764,632 00|



Gross premiums
risks written

Less $4,072.15 return
premiums; and $1,-
104.64 premiums forj
reinsurance pompaniesj
authorized in Wiscon-
sin

Net premiums re
celved

Losses paid (deducting!'
salvage) |

Less losses on risks]
reinsured in compa-
nies authorized la
Wisconsin

Net losses paid..

Losses Incurred i

Less losses on risks
reinsured In compa-
nies^ authorized in
Wisconsin

Net losses incurredl




$743 931 $8,145 03

I



32—1118.— I



Digitized by



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m



GLE^S PALLS t^B. tX).



UNDERWRITING AND INVESTMENT EXHIBIT.



UNDERWRITING EXHIBIT.

Premiums.

Total premiums

Add unpaid return and reinsurance
premiums De<;. 31 of previous year



Total

Deduct unpaid return and reinsurance
premiums Dec. 31, end of tbe year.



Balance $2,212.087 70

Add unearned premiums Dec. 31 of
previous year 2,329,240 10



$2,217,162 98
12,041 26



12,229.204 24
17,116 54



Total

Deduct unearned premiums Dec. 31,
end of the year



Premiums earned during the year..

UNDERWRITING PROFIT AND
LOSS ITEMS.

Gain from agents' balances pre
vlously charged off, $346.29 and
from other underwriting income,
$156.94

Loss from agents' balances charged
oft



Loss from above

Agents' balances and bills

reeivable not admitted

Dec. 31, 1912 $8,919 85

Agents' balances and bills

recelvlable not admitted

Dec. 31, end of the year 1.148 41|



Gain from above.



$4,638,327 80
2,393.225 95



$2,145,101 85



I



I



$503 231.

1.906 361.
-I



$1,405 131.
I



Gain from underwriting profit and
loss items



Underwriting income earned during
the year ,



LOSSES.



Losses paid

Deduct salvage and reinsurance re-
coverable Dec. 31, end of the year. .



Balance

Deduct unpaid losses December 31 of
previous year I



7.771 44



6.366 31



I
$1,185,144 611

1,883 64



Balance

Add unpaid losses December 31, end
of the year



Losses incurred during the year

UNDERWRITING EXPENSES.

Underwriting expenses paid during
the year

Deduct underwriting expenses unpaid
December 31 of previous year:
Taxes and bills



Balance

Add underwriting expenses unpaid
December 31, end of the year:
Taxes, $33,000; bills unpaid, $3,000..



$1,183,260 97
207.461 001



$975.799 97
209.896 00



$1,185,605 97



I



$940,456 301
34.000 001



$906,4.'>6 391 .



$2,151,468 16



86,000 001.
H



Digitized by



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qLeKs C^aLls iKb. CO.



m



UNDERWRITING AND INVESTMENT EXHIBIT— Continued.



Underwriting expenses incurred dur-|
Ing the year 1913 |.



.1 042.456 39



Underwriting losses and expenses 1.

Gain from underwriting during thej
year 1913 |.



INVESTMENT EXHIBIT.
Interest and Rents.
Interest, dividends and rents received

during the year

Deduct Interest, dividends and rents
due and accrued December 31, end
of the year



Balance

Add interest, dividends and rents due
and accrued December 31, end of the
year



Interest and rents earned during the
year



PROFIT ON INVESTMENTS.



Gain from sale of ledger assets....
Gain from increase in book value of

ledger assets

Gain from other investments



Profit on investments during the year

Investment income earned during the
year



LOSS ON INVESTMENTS.

Loss from decrease in book value of
ledger assets

Loss from other investments : Charged
profit and loss furniture nud fix



tures in new building.



Investment expenses paid during the
year



Investment losses and expenses dur
ing the year



Loss from investments during
the year



$282,597 70
52,188 21



$230,409 49
47.202 20



$036 20

41,745 00
1,245 00



$380,904 21



29,401 96



MISCELLANEOUS EXHIBIT.

Dividends declared to stockholders

during the year

Decrease in special reserves ....






$277,671 69



43,626 20



$410,306 17



11,712 31



Net loss from above.



Total gains and losses in sur-
plus during the year

Surplus Dec. 31, 1912

Surplus Dec. 31, 1913



Gain in
Surplus.



2,128.152 30



$2S,815 80



$321,297 89



422.018 48



$100,720 60



$95,000 001



I-



-
Decrease in surplus during the year].

I



$2,486,705 61
2,319,300 ""



$28,815 80



167,404 79



Loss in
Surplus.

$185,000 00



$90,000 00



$190,720 60



Totals



$286,720 69! $266,720 60



Per cent of losses incurred to premiums earned, 55.27.
Per cent of underwriting expenses Incurred to premiums earned, 43.93.
Per cent of Investment incurred to interest ond rents earned, .042.
Per cent of total losses and epenses incurred and dividends declared to total
income earned, 86.76.



Digitized by



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500 GLOBE & RUTGERS JlRE mS. CO.



GLOBE & BUTOEBS FIBE INSUBANCE COBIPANY,

New Year City.

Home Office, 111 WILLIAM STREET.

• [Incorporated February 9th, 189^; commenced business February 9th, 1890.]

President, E. C. JAMESON. Vice President, LYMAN CANDEE.

Secretary, W. H. PAULISON.

CAPITAL STOCK.

Amount of capital paid up in cf>sb $400,000 00

Amount of ledger assets December 31, of previous year $7,331,292 73



INCOME.

Fire.

Gross premiums $6,559,068 23

Deduct reinsurance premiums, dre, $1,049,910.97; re-
turn premiums, flre, $1,057,659.58 2, 107,570 55

Total premiums (other than perpetual) $4,452,007 68

Gross interest on mortgage loans, less accrued in-
terest on mortgages acquired during 1913 $5,007 63

Gross interest on bonds and dividends on stocks,
less $8,063.63 accrued interest on bonds acquired
during 1913 312,046 13

Gross interest on deposits in trust companies and
banks 1,171 23

Miscellaneous 12 60

Gross rents from company's property 5,666 30

Total gross interest and rents 324,803 89

Mercantile National Bank in liquidation $3,037 50

Received account borrowed money 235,000 00

238,037 50
Gross profit on sale or maturity of ledger assets: Stocks 6,097 62

Total Income $5,021,036 50

Total footings $12,352,329 32



DISBURSEMENTS.

Gross amount paid policyholders for losses (includ-
ing $498,954.49 occurring in previous years) $3,390,401 93

Deduct amount rerolved for salvage, flre. $*3.400.26:
reinsurance, fire, $832,440.34; discount, flre, $5,642.55 881.483 15

Net amount paid policyholders for losses $2,506.918 78

Expenses of adjustment and settlement of losses .38.600 86

Commissions or brokerage 837,835 63

Salaries, fees and all other charges of oflUcers, directors, trustees
and home office employes 138,241 23



Digitized by



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GLOBE & BUTOERS FIRE INS. CO. 501



Rents 1.62507

Advertising, $2,519.57, printing and stationery, $9,502.04... 12,081 61

Postage, telegrams, telephone and express '. 6 . 929 65

Legal expenses 13,360 87

Furniture and fixtures 2,273 31

Maps, Including corrections 6.572 39

Underwriters' boards and tariff associations 23,940 59

Fire department, fire patrol and salvage corps assessments, fees,

taxes and expenses I^.TmO 42

Inspections and surveys 10, 237 29

Repairs and expenses (other than taxes) on real estate 682 44

Taxes on real estate 1 , 143 10

State taxes on premiums .' 54,4K6 97

Insurance department Tcenses and fees 4,933 22

All other licenses, fees and taxes:

Federal corporation tax $6,5»4 98

Franchise tax 7,725 05



14,310 08



Other disbursements:

Interest on borrowed money $20. 620 53

Exchange on agents drafts 2,271 10

Subscriptions to papers and mercoatlle agencies.. 1,698 02



:«,580 71

Paid stockholders for interest or divdends 160,000 00

Gross loss on sale or maturity of ledger assets:

Bonds $4,881 25

Stocks 6,368 07



11,249 32
Gross decrease, by adjustment. In book value of ledger assets:
Stocks 337 50



Total disbursements $3,905,017 80

Balance $8,440,411 43



LEDGER ASSETS.

Book value of real estate $72.945 00

Mortgage loans on real estate. flr8t Hens 113.700 00

Book value of bonds, $2,050,903.38 and stocks, $4,-

272,504.90 6,932,408 28

Cash In con^pany's office $850 05

Depos'ts in trust companies and banks'"

not on interest 158,389 76

Deposits In trust companies and banks

on interest 183. 770 47



343,010 28
Agent's' balances representing business written sub-
sequent to October 1. 1913 957,707 87

Agents' bfllanres representing business written prior
to October 1. 1913 26,.574 (X>



Total ledger assets ?S.44C,41 1 43



NON LEDGER ASSETS.

Interest accrued on morttrages $1 , 413 68

Interest accrue<l on bonds 3fl . 232 79



Total 37,040 47

Gross assets , $S, 484, 057 9Q



Digitized by



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502 GLOBE A RUTGERS FIRE INS. CO.



DEDUCT ASSETS NOT ADMITTED.

Agents' balances, representing business written prior

to October 1. 1913 $20,574 00

Book value of ledger assets over market value 437,207 28



403,781 28
Total admitted assets $8,020,276 62



LIABILITIES.

Gross losses adjusted and not yot due |133,0I3 00

Gross claims for losses in process of adjustment or
in suspense, plus $20,000.00 reserve for losses in-
curred prior to December 31. of which no notice

had been received on that date 600,747 00

Gross claims for losses resisted GO, 711 00



Total $793,501 00

Deduct reinsurance due or accrued, In companies au-
thorised in New York 198,683 00



Net amount of unpaid losses and claims $594,808 00

Gross premiums (loss reinsurance) received and re-
ceivable upon all unexpired risks, $2,461,581.82,
unearned premiums $1,208,222 07

Gross premiums (less reinsurance) received and
receivable upon f\\\ unexpired Inland navigation
risks, $3,885,157.78; unearned premfUms (fifty per
cent) 1 ,942,578 80



Total unearned premiums as computed above 3. 150,800 96

Salaries, rents, expenses, bills, accounts, fees, etc., due or ac-
crued 2,500 00

Estimated amount hereafter payable for federal, state and other

taxes based upon the business of the year of this statement 27,500 00

Contingent commissions or other charges due or accrued 59,541 00

Due and to become due for borrowed money 570.000 00

Total amount of all liabilities except capital $4,405,149 96

Capital actually paid up In cash $400.000 00

Surplus over all liabilities 3,215.126 66



Surplus as regards policyholders 3.615.126 66

Total liabilities $8,020,276 62



RISKS AND PREMIUMS.

Gross
premiums
Fire risks. thereon.

In force on the 3Ist day of December, 1912 $">24. 71 8.829 $6.<W5..S05 7n

Written or renewed during the year 658,590,111 6,559,668 23

Excess of original premiums over amount received
for reinsurance 637,375 65

Total $1, 183.317.940 ?;13.2»2.9T9 61

Deduct those expired and marked off as terminated 571.9G4.05O 6,236.391 27

In force at the end of the year $611,353,890 $7,056,548 34

Deduct amount reinsured 55,213,354 700,802 74

Net amount In force $556,140.536 $ 6,346,745 60

Digitized by LjOOQIC



GLOBE A RUTGERS FIRE INS. CO.



503



RECAPITULATION OF FIRE RISKS AND PREMIUMS.



Year
writtei'.



Term.



1013
1912
1913
1911
1912
1913
1910
1911
1912
1909.
1910
1911
1912
1913



One year or less.

Two years

Two years

Three years . . . .

Three years

Three years . . . .

Four years

Four years

Four years

Five years

Five years

Five years :

Five years

Five years

Over five



years.



Totals



I Gross
. . premiums

Amount , (.harmed,
covered. j^ss re-

insurance.



Is



Amount of

premium

unearned.



$354,421.

3,432

1^085

55,185

49,718

48,645,

10,

9,

7,

6.942.

11.437

12,402

6,248

6,273

319



724
046
741
649
570
209
000
850
500
419
305
839
7071
7731
,2041



$3,885,157 78


1-2


$1,942,578 89


32,896 15


1-4


8.224 03


10.140 53


3-4


7,005 40


667,437 43


1-^


111.239 57


625.773 90


1-2


312.886 94


604,272 48


5-6


503,560 40


56 94


1^


7 12


M 85


.3-8


20 57


- 61 54


5-S


38 46


81,613 42


1-10


8,161 34


116,798 65


3-10


35,039 59


131,642 46


1-2


65.821 23


76.520 13


7-10


.53.564 09


111,609 69


9-10


100.448 72


1 2,709 65| P. R.

1


1.604 6.



$556,140,5361 $6,346,745 60

I



$3,150,800 96



BUSINESS IN THE STATE OF WISCONSIN DURING 1913.

Fire.

Gross risks written $3,991,583 00

Less risks cancelled. 1,574.397 00

Net risks written $2,417,186 00

Gross premiums on risks written ^.4S. ;ir>5 .57

Less return premiums 10.811 95

Net premiums received $37. 543 62

Losses paid (deducting salvage) $27,024 15

Less losses on risks reinsured in companies authorized in 2.855 54

Net losses paid $24. 168 61

Losses Incurred $3:j.312 15

Less losses on risks reinsured in companies authorized in 3.394 06

Net losses incurred $2*). 918 09



Digitized by



GoogI(



504 GLOBE A RUTGERS FIRE INS. CO.

UNDERWRITING AWD INVESTMENT EXHIBIT.



UNDERWRITING EXHIBIT.
Premiums.



14,452.097 68



Total premiums ,..\

Add unearned premiums as per state-
ment Dec. 31, 1912 1 2,704,970 62



Total

Deduct unearned premiums Dec. 31,
1913



Premiums earned during 1913.



UNDERWRITING PROFIT AND
LOSS ITEMS.

Agents* balances and bills

receivable not admitted .

Dec. 31. 1912 $28,574 02

Agents' balances and bills

receivable not admitted

Dec. 31, 1912 26,574 00



Gain from above.



Underwriting Income earned during
1913



Online LibraryWisconsin. Dept. of InsuranceReport → online text (page 53 of 94)