A.M. Best Fire and Marine Insurance Companies (1919)

6 BEST'S INSURANCE REPORTS — FIRE AND MARINE.

AGRICULTURAL INSURANCE COMPANY — Continued.

Less return premiums...	961, 385	39	238, 915 92
Total net premiums.. $3,101,866		89	$701,508 80
Interest, etc			309, 385 58
Other income			32,027 62
TOTAL INCOME			$4,144,788 89
DISBURSEMENTS, 1919.			$1. 281, 829 52
Net losses paid: Fire and miscellaneous
Marine and inland			523,857 14
TOTAL			$1, 805. 686 66
Underwriting expenses			1,533,535 62
Dividends to stockholders			200,000 00
Other disbursements			178,953 81

TOTAL DISBURSEMENTS $3,718,176 09

Ratios to Premiums Written.—Losses paid, fire, etc.. 41.3%; marine, 74.7%; incurred, 48.6%; underwriting expenses, 40.3%; underwriting profit, 1.6%.

Ratios to Premiums Earned.—Losses incurred, 53.2%; expenses incurred, 45.2%; underwriting profit, 1.8%.

Miscellaneous, 1919.— Net losses incurred, $1,847,090.08; net risks in force December 31, 1319, fire and miscellaneous, $593,851,300; marine and inland, $25,866,600; net premiums in force, fire and miscellaneous, $5,604,077; marine and inland, $402,928.

Underwriting Exhibit, 1919.— Premiums earned during

1919, $3,469,022.96; gain from underwriting profit and loss items. $9,160.62; total, $3,478,183.58.

Losses incurred (luring 1919, $1,847,090.08; underwriting expenses incurred during 1919, $1,568,835.62; total, $3,-415,9255.70.

Gain from underwriting during 1919, $62,257.A..

Investment Exhibit, 1919.—Interest, etc., earned during 1919, $314,077.87; profit on investments (luring 1919, $127,-660.13; total, $441,738.

Loss on investments during 1919, $168,161.65; investment expenses incurred during 1919, $9,052.40; total, $177,-214.05.

Gain from investments during 1919, $264,523.95.

Gain and Loss Exhibit, 1919.- Gains: Underwriting, $62,257.88; investments, $264,523.95; other sources, $2,-$00; total, $329,481.83.

Loss from other sources, $50,000; dividends, $200,000; total, $250,000.

Surplus, December 31, 1918, $1,930,S58.15; increase, $79.-481.83: surplus, December 31, 1919, $2,010,339.98.

MISCELLANEOUS CLASSES:	Net Premiums Written.		Net Losses
MISCELLANEOUS CLASSES:	Net Premiums Written.		Incurred.
Motor vehicles	$268,916	00	$206,752 00
Tourists baggage	19. 709	00	6,599 00
Registered mail	S. 833	00	375 00
Windstorm and tornado	71.713	00	30,034 00
Hail	23, 969	00	20,799 00
Sprinkler leakage	2,234	00	1,071 00
Explosion and riot	13.149	00	54 00

ALBANY INSURANCE COMPANY, 93 State Street, Albany, N. Y.

ADMITTED ASSETS, DECEMBER 31, Real estate owned (market value) Mortgage loans on real estate Interest due and accrued thereon Bonds and stocks owned (market value) Interest due and accrued thereon Cash in banks and office Agents' balances not over three months due. Other admitted assets	1919. $80, 000 279,740 1,334 837, 665 7,112 52,473 77,633 100	00 00 19 00 39 14 66 00
TOTAL ADMITTED ASSETS $1,336,05S		38
GENERAL REVIEW.		the
History.— This company was incorporated under

laws of New York in 1811 with $500,000 authorized capital. In 1829 its capital was reduced to $300,000, and in 1851 to $100,000. In 1857 the capital was increased to $125,000; in 1859 to $150,000; in 1872 to $200,000, and in 1889 to $250,000, the amount at which it now stands.

The par value of the company's stock is $50 a share.

Management and Reputation.— The compaany is backed by substantial interests, and its directorate includes prominent business and financial men.

Its underwriting policy has been conservative, and the company has built up a substantial surplus. Good dividends have been paid to stockholders. The majority of the company's stock is held by residents of Albany. The direc-

LIABILITIES, DECEMBER 31, 1919. LOSSES: Adjusted, not due, $16,471.84; in

process of adjustment, $24,477.5S; re-

sisted, $2,650; total, $43,599.42; reinsur-

ance, $5,744.94; net	$34, 854	45
Unearned premiums	486.404	00
Salaries, rents, etc	945	11
Estimated taxes hereafter payable	17,752	60
Contingent commissions, etc.	4,271	27
TOTAL LIABILITIES, except capital	$544, 227	46
CAPITAL PAID UP	250, 000	00
NET SURPLUS	541, 830	92,
TOTAL $1,336,05S		38

tors of the company owned at the end of 1919 $38,300, par value, of the company's $250,000 capital stock.

The company's loss paying record is excellent. Its expense ratio is slightly above the average. Its average loss ratio is normal, but in 1918 and 1919 the loss 'ratio was low.

Its investments are of excellent character. The security valuations are those fixed by the Convention of Insurance Commissioners. The mortgage loans are well secured by improved property in New York State.

Classes of Business Written.— Fire and tornado insurance.

Territory.— Conn., Ill., Mass., N. J., N. Y., 0., Penn. and R. I.