2   BEST'S INSURANCE REPORTS—FIRE AND MARINE.

" ABEILLE " FIRE INSURANCE COMPANY — Continued.

Underwriting Exhibit, 1919.- Premiums earned during   Loss on investments during 1919, $6,850.93; investment

1919, $536,831.09.   expenses incurred during 1919, $861.91; total, $7,712.84.

Losses incurred during 1919, $241,382.59; underwriting expenses incurred during 1919, $260,685.71; total, $502,-068.30.

Gain from underwriting during 1919, $34,76.2.79. Investment Exhibit, 1919.—Interest, etc.. earned during 1919, $29,726 S7.

ACADIA FIRE INSURANCE CO\I PA N Y, 5S Bedford Row, Halifax, N. S., ('anada.

ADMITTED ASSETS, DECEMBER 31, 1919.

GENERAL REVIEW.

History.—This company was established in 1862. with a paid-in capital of $100,000. later increased to $200.000. In 1907 a stock dividend of $100,001) was declared, increasing the paid-in capital to $300,000, and in 1911 another stock dividend of $100,000 was declared, increasing the paid-in capital to $400;000. The par value of the stock is $40 per share.

The company's operations were confined to the Province of Nova Scotia up to Jul- 31. 1905, when it secured a Dominion license, and now operates throughout the Dominion of Canada and also in Newfoundland.

Early in 1915 the Phoenix Assurance Company, of Lon-don, acquired the controlling interest of this company, and the underwriting in upper Canada is controlled from the Canadian office of the "Phoenix."

Policies entitled -'Allied Underwriters" are guaranteed by this company and the " Phoenix." such policies being issued only in the province of New Brunswick_

Management and Reputation.—The company is well managed, and the Phoenix Assurance Company, of London, a very large and reputable institution, guarantees its policies.

The company bars an excellent reputation in the matter of loss settlements. The volume of business written is conservative. In 1919 the loss ratio was normal: t!me expense ratio is moderate. The net hail premiums written in 1919 amounted to $23,981.31, and the net hail losses incurred amounted to $15.532.29.

Substantial dividends have been paid to stockholders each year since the company began business.

Its investments are of good character. The real estate is the head office building, carried at book value.

Affiliations.— Canadian Fire Underwriters. Association, Western Canada Fire Underwriters Association. Mainland Board of Fire Underwriters, New Brunswick Board of Fire Underwriters and Nova Scotia Board of Fire Underwriters.

Classes of Business Written.— Fire and hail insurance.

LIABILITIES, DECEMBER 31, 191,9.

Losses in process of adjustment   $11,137 84

Unearned premiums    154,277 31

Balance held in trust for reinsurers    42,154 81

Due reinsurers    7.267 92

Hail insurance surplus fund    9,067 73

TOTAL LIABILITIES, except capital.   $223, 905 61

CAPITAL PAID UP    400, 000 00

NET SURPLUS    192, 165 25

TOTAL   $816,070 86

Territory.—Operates throughout the Dominion of Canada and in Newfoundland.

Dividends.— Since organization the company has paid dividends ranging from 6% to 15%; from 1914 to 1919, inclusive, the rate was 6%.

Officers.—President, C. C. Blackadar; vice-president, A. F. -Jones; secretary-treasurer, R. K. Elliot.

Directors.

Blackadar. C. C.. proprietor Acadian Recorder.

Hart. George R., Brazilian consul.

Jones, A. E., president Robin, Jones & Whitman, Ltd. Mitchell, Charles H., W. and C. H. _Mitchell, Ltd. Paterson, J. B., Canadian manager of the " Phoenix." Paterson. R. MacD., Canadian manager of the " Phoenix." \Webster, William M. P.. Webster. Smith & Company. Branch Office.— R. MacD. Paterson and J. B. Paterson,

managers, Montreal.

Stoeb•holdcrs' Annual Meeting.—Second Tuesday in February.

INCOME, 1919.

Fire, etc.

Gross premiums written..   $412.558 31

Less reinsurance    120.5SO 46

Less return premiums..   67, 276 69

Total net premiums..   $225.001 16   $23. 981

Interest, etc   39.232

Other income    21,719

TOTAL. INCOME    $309.934

DISBURSEMENTS, 1919. Net losses paid:

Fire   $100,194 S5

Hail   15, 532 29

TOTAL   $115.727 14

Underwriting expenses    87.699 52

Dividends to stockholders    24.000 00

TOTAL. DISBURSEMENTS    $227.426 66

Hail. $103,248 57

71,943 91

7,323 35

31 1)8 96 51