You are reading a page from The Insurance Society, Trade Magazine (1884)

Part of the American Term Life Insurance History Project
Term Life Insurance

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          SUMMARY OF 38th ANNUAL REPORT,
New York Life Insimnce Co.
       OFFICE, 346 & 8AS BROADWAY.
 Wm. H. Beers, Vice-Pres't and Actuary.      Morris Franklin, President.

Business of 1882

Received in Premiums................................................................. ...................................   $9,152,627.38
Received in Interest, Rents, etc..........................................................................................    2,798,018.41
 Total Income...... ..........................................................            $11,960,645.79
Paid Death-claims.............................. ...........................................................................   $1,955,292.00
 "  Endowments..................... .... ......................................... .......................................       427,258.95
 " Annuities, Dividends, and for Surrendered Policies......................................................    3,827,758.76
   Total Paid Policy-holders...... ...... .......... ............ ................             $6,210,309.71
New Policies issued.........................................................................................................       12,178
New-Insurance written.................................... ......... ................................. ....................  $41,325,520.00
                    Condition January 1, 1883
     Cash Assets..............................................................            $50,800,396.82
Divisible Surplus (Co.'s Standard, 4 per cent.)...................................................—.—........   $4,948,841.79
tTontine Surplus    "               "       ................................................ ...................    2,091,372.16
   t Total Surplus at 4percent..............................................   7,040,213.95
Surplus by State Standard...........................................................—.............—.:.....—..               $10,073.892.51
Policies in force............................. .................................................................................           60,150
Insurance in force.............................. ...........-........................-......-...........—- ........ $171,415,097.00
                          Progress in 1882
Increase in Premiums. —.....——...... ...—...—......——...—————————   $1,101,915.44
Increase in Interest, etc..— —.—...—..——....—..————..—....——.—.—....—.........—...—      365,364.08
     Total Increase in Income............................................ ....              $1,467.279,52
Excess of Income over all expenditures......—...............—.........—............ ...—.—....—...—   3,788,508.25
Excess of Interest over Death-losses............................................ . .....................................    842,726.41
Increase in Assets................................................... —...—...——.—.——————..—..—   3,571,615.18
Increase in Divisible Surplus (Company's Standard, 4 per cent.).........——.......——.....—.—......     121,805.18
Increase in Tontine Surplus       "               "           .......................................... .      37,128.13
Amount added to Tontine Fund............................... -  .——...... .—...—..............................  l,109,96fi.OO
Amount paid on Matured Tontines............-.........—.—..—.........———...............—......—  1,072,837.87
Increase in Policies issued (over 1881).........—....—....... ..—————...— ——.......——.......          2,237
Increase in new Insurance      "     ...........................—...—.—........ ..——————.——   8,951,239.00
Increase in Policies in force     "       ................——...—.....—....—.—..—.........———.......          6,223
Increase in Insurance in force   "     ...............................—..—...——.—...........—....—...—  19,654,273.00

   * Exclusive of the amount spocially reserved as a contingent liability to Tontine Dividend fund.
   t Over and above a 4 per cent. reserve on existing policies of that class.
  tif the Actuary's, or American, Mortality Table were used, this amount would be considerably increased.
  The NEW YORK LIFE issues all desirable forms of Life, Endowment and "Tontine Investment Plan" Policies.
   Applications for Agencies in Canada, and all information regarding the Company's popular systems of insurance, will receive
prompt attention by addressing the undersigned.

Union Bank Building-, NOTRE DAME STREET.
                MONTREAL.
        DAVID BURKE, SUPERINTENDENT.