BEST'S INSURANCE REPORTS-FIRE AND MARINE.   21

AMERICAN EQUITABLE ASSURANCE COMPANY — Continued.

also acts as Metropolitan district manager of a number of   General Agents.—Central Fire Office, Inc., 80 Maiden other companies. (See report upon Knickerbocker Insur- Lane, New York, N. Y.

mice Company elsewhere herein.)

The International Fire & Marine Agency Corporation, 3 So. William street, New York, of which Robert Van iderstine is president, manages the fire reinsurance branch. That agency also represents several other reinsurance companies.

The securities owned by the company are of excellent character.

The company writes a full volume of business in proportion to its net resources. It had a normal loss ratio on fire business and a moderate loss ratio on marine trans-actions during 1919. Expenses have been moderate.

If permitted to take credit for unadmitted reinsurance the company would show a surplus of $594,482.78 instead of $401,176.87, as shown in the above statement.

The company is in good repute in the matter of loss settlements.

Affiliations.— Western Insurance Bureau, Rocky Mountain Underwriters Association.

Classes of Business Written.—The company writes a direct fire, marine, hail and tornado business, and also lire reinsurance.

Territory.—The company is licensed in Ark., Cal., Colo., Conn., Del., Idaho, Ill., Ind., La., Md., Mass., Mich., Miss , Mont., Nev., N. H., N. J., N. Y., N. C., 0, Pa., R. I., Tex., Utah and W. Va.

Officers.—President, R. A. Corroon: first vice-president, Thomas A. Duffey; second vice-president, John A. Camp-bell; secretary, T. A. Duffey; assistant secretary, H. H. Herpst.

Directors.

Barker, Wendell P., attorney, 27 William steret, New York City.

Campbell. John A., second vice-president of company, New Yorh.

Chapal, Antonin, C. & E. Chapal. Freres & Cie, Paris and New York, 415 Willoughby avenue, Brooklyn, N. Y.

Corroon, R. A., president of company, New York, 68 Wil

Liam street, New York.

Cullman, Joseph F.,

street, New York.

Donner, Philip C., Newark. N. J.

Duffey-, Thomas A., president Central Fire Office, Inc., 80 Maiden Lane, New York.

Falk, Herbert, 120 Broadway, New York and London. Goldsmith, Max, Goldsmith & Co.. 116 Broad street. New York.

Hunter, R. \V,

Loughman, Edward J., managing director. Plymouth Cordage Co., of Great Britain, London, 1790 Broadway, New York.

Naumburg, Aaron, president Jonas & Naumburg, Inc., 1101 Broadway, New York.

Van Iderstine, Robert, president International F. & M. Agency Corp.. 3 So. William street, New York.

Weisz, B , vice-president Jonas & Naumburg. Inc., 1101 Broadway, New York.

Wick, William, 68 William street, New York.

Stockholders' Annual Meeting.— Second Wednesday in March.

street,

Donner &

Company. Polk

s, 161 Front

Jr., Cullman Brothe

INCOME, 1919.

Gross premiums written.. Less reinsurance     Less return premiums..

Fire, etc.
82,679,782 87
1,101,722 82
616.457 22

Marine

and Inland
$1,555,883 41.
1.022.004 14

229,380 73

$304, 498 54 70,804 23 24, 360 85

TOTAL INCOME    $1,361.266

45

DISBURSEMENTS, 1919. Net losses paid:

Fire and miscellaneous    $431.913 21

Marine and inland    292,054 05

ToTAr. ..   $723,967 26

Underwriting expenses    458,205 30

Dividends to stockholders    70,000 00
Decrease in liabilities during the year on

account of reinsurance treaties    35.881 42

Other disbursements    1,817 94

TOTAL DISBURSEMENTS    $1,289,871 92

Ratios to Premiums TVritten.—Losses paid, fire, etc., 44.9%; marine, 95.9%; incurred, fire, etc„ 46.1%; marine, 56.3%; underwriting expenses, 36.2%; underwriting profit, 5.2%.

Ratios to Premiums Earned.— Losses incurred, 53.9%; expenses incurred, 40.4%; underwriting profit, 5.7%.

Miscellaneous, 1919.—Net losses incurred, fire and miscellaneous, $443,836.14; marine and inland, $171,525.69; net risks in force December 31, 1919, fire and miscellaneous, $136,210,212; marine and inland, $26,642.405; net premiums in force, fire and miscellaneous, $1,201,573.44; marine and inland, $311,613.82.

Underwriting Exhibit, 1919.—Premiums earned during 1919, $1,140.585.52; gain from underwriting profit and loss items, $1,378.20; total, $1,141,963.72.

Losses incurred during 1919, $615.361.83; underwriting expenses incurred during 19119, $460,705.30; total, $1,076,-067.13.

Gain from underwriting during 1919, $65.896.59.

Jnvestnient Exhibit, 1919.—Interest, etc., earned during 1919, $66,334.71: profit on investments during 1919, $22,-982.65; total, $89,317.36.

Loss on investments during 1919. 859,987.24; investment expenses incurred during 1919, $1.817 94; total, $61,805.18 Gain from investments during 1910, $27,512.18.

Gain and Loss Exhibit, 1919.— Gains: Underwriting, $65,896.59: investments. $27,512.18; total. $93,408.77. Loss from dividends, $70,000.

Surplus, December 31, 1918, $377,768.10; increase, $23,-408.77; surplus, December 31, 1919. $401,176.87.

Net Premiums   Net Losses

MISCELLANEOUS CLASSES:   Written.   Incurred.

Windstorm and tornado....   $3,472 76   $757 22

Hail   15. 165 64   6,810 01

Total net premiums..   $961.602 83

Interest. etc   

Other income