20   BEST'S INSURANCE REPORTS—FIRE AND MARINE.

AMERICAN EAGLE FIRE INSURANCE COMPANY — Continued.

Underwriting Exhibit, 1919.— Premiums earned during 1919, $1,842,304.23; gain from underwriting profit and loss items, $4,186.99; total, $1,846,491.22.

Losses incurred during 1919, $942,138.23; underwriting expenses incurred during 1919, $713,621.43; total, $1,-655.759.66.

Gain from underwriting during 1919, $190,731.56.

Investment Exhibit, 1919.—Interest, etc., earned during 1919, $15'2,048.37; profit on investments during 1919, $99,-192.50: total, $251,240.87.

Loss on investments during 1919, $138,647; investment

expenses incurred during 1919, $3.175 07; total, $141,822.07. Gain from investments during 1919, $109,418.80.

Gain and Loss Exhibit, 1919.- Gains: Underwriting,

$190,731.56; investments, $109,418 80: total. $300,150.36. Dividends paid, $140,000.

Surplus, December 31, 1918, $900,572.17; increase, $160,-150.36; surplus. December 31, 1919, $1,060.722.53.

Ratios to Premiums Written.—Losses paid, fire etc., 29.1%; marine, 93.7%; incurred, 40.S%; underwriting expenses, 30.0%; underwriting profit, 8.2%.

Ratios to Premiums Earned.— Losses incurred. 51.1%; expenses incurred, 38.6%; underwriting profit, 10.3%.

Miscellaneous, 1919.—Net losses incurred, $942,138.23; net risks in force December 31. 1919, fire and miscellaneous, $253,217,882; marine and inland, $11,403,676; net premiums in force, fire and miscellaneous, $2.340,065.65: marine and inland, $167,086.83.

   Net Premiums   Net Losses

MISCELLANEOUS CLASSES:   Written.   Incurred.

Motor vehicles    $44.859 00   $21.651 89

Tourists baggage    316 00

Registered mail    357 00    

Windstorm and tornado ..   10.246 00   1,957 34

Hail   170,555 00   49.762 17

Sprinkler leakage    1.746 00   568 99

Explosion   271 00

Earthquake   560 00

War risk (other than marine)   -1, 812 00

AMERICAN EQUITABLE ASSURANCE COMPANY 68 William Street, New York, N. Y.

ADMITTED ASSETS, DECEMBER 31, 1919.

TOTAL ADMITTED ASSETS    $1, 9S0, 21S 71

LIABILITIES, DECEMBER 31, 1919.

LOSSES: Adjusted, not due, $1,555.84; in process of adjustment, $492,128.04; resisted. $4.000: total, $497,683.88: reinsur-

ance, $243.501.63; net    $253.882 25

Unearned premiums: Fire and miscellaneous, $680,80543; inland navigation, $23,-

556.62; marine, $141,174.29; total   845,536 34

Estimated taxes hereafter payable   10,000 00

Funds held under reinsurance treaties   69.623 25

TOTAL LIABILITIES, except capital. $1,179, 041 84

CAPITAL PAID UP    400. 000 00

NET SURPLUS    401, 176 87

TOTAL   $1,980,218 71

GENERAL REVIEW.

History.—This company was incorporated under the laws of New York State and received its license from the New York Insurance Department on April 12, 1918. It writes a direct fire and marine business, and also fire reinsurance.

The company began with a paid-in capital of $400,000 and a paid-in surplus of $600,000. There were no organization expenses, which is commendable.

The par value of the stock is $100 per share.

This company and the Knickerbocker Insurance Company of New York guarantee a series of policies issued under the title " American International Underwriters."

Management and Reputation.—The company is con-

trolled by interests identified with Corroon & Duffey, Inc., which interests also control the Knickerbocker Insurance Company of New York.

On December 31, 1919, the directors owned $135,900, par value, of the company's capital stock.

The marine underwriting of the company is in charge of the Columbia Underwriting Agency, Inc., 54 Beaver street, of which Albert Ullman is president and underwriter. Mr. Ullman is an experienced marine underwriter, and is in good repute.

The Central Fire Office, Inc., SO Maiden Lane, which also acts in the same capacity for the Knickerbocker Insurance Company, is general agent for the direct fire business. It