BEST'S INSURANCE REPORTS-FIRE AND MARINE.   29

AMERICAN NATIONAL FIRE INSURANCE COMPANY—Continued.

ratio has been high, but has shown a downward tendency in recent years.

The company increased its business considerably in 1918 and 1919, and the underwriting loss in those years was due in part, but not wholly to the corresponding increase in unearned premium reserve.

Its investments are of good character. The security valuations are those fixed by the Convention of Insurance Commissioners. The mortgage loans are apparently well secured.

The company bears a good reputation in the matter of loss settlements.

Classes of Business Written.—Fire, automobile and tornado insurance.

Territory.—The company is licensed in Colo., Del., Ill., Ind., la., Kan.. La., Md., Mich.. Minn., Miss, Mont., Neb., Nev., N. Ii.. N. J., N. Y., N. C., 0., Pa., S. D., Tex., W. Va. and Wyo.

Affiliations.— Western Union, Western Automobile Underwriters Conference.

Officers.— President, John NV. Zuber; vice-presidents, Chas. S. M Krunim and R. M. Fountain: secretary. John A. Dodd; treasurer, Oscar A. Schenck.

D i rev to rs.

Dodd, John A., Columbus, O., secretary of company. Duffey, B. T., Cleveland, 0., State agent Royal Insurance Company.

Fountain, R. M., Somerset, O., insurance.

Krumm, Charles S. M., Columbus, 0, attorney and di-rector Ohio National Bank.

Ransbottom, Frank. Zanesville, O., president American Clay Products Co.

Schenck, O. A., Columbus, 0.. president Market Ex. Bk. Seidensticker, Louis. Columbus, 0., president Allemanta Building & Loan Co.

Shulze, Charles G., Circleville, O., president Third National Bank.

Zuber. John W., Columbus, 0., president of the company. Stockholders' Annual Meeting.—Second Tuesday in February.

Western Department.— The Western Department of the company is located at Chicago, Ill., under the management of George W. Law, Western Manager for the Royal Insurance Co., Limited, and operates in the following States: Illinois, Minnesota, Nebraska, Iowa, Wyoming, South Dakota, Wisconsin, Kansas and Colorado.

INCOME, 1919.   Marine

   Fire, etc.   and Inland.

Gross premiums written..   $780, 852 87   $27. 220 77

Less reinsurance    265, 606 12   9. 700 57

Less return premiums..   135, 273 15   3,893 21

Total net premiums..   $379, 973 60   $13,626 99

Interest, etc   31,437 96

Surplus paid in by stockholders    150,000 00

TOTAL INCOME

   $575,038 55

DISBURSEMENTS, 1919. Net losses paid:

Fire and miscellaneous    $85,537 33

Marine and inland    1,856 6.2

TOTAL    $87,423 95

Underwriting expenses    179,068 93

TOTAL DISBURSEMENTS    $266,492 88
Ratios to Premiums Written.—Losses paid. fire, etc., 22.5%; marine, 13.8%;' incurred, fire. etc., 26.4%; marine, 13.9%; underwriting expenses, 45.5%; underwriting loss, 19.7%.

Ratios to Premiums Eat-ned.—Losses incurred. 49.6%; expenses incurred, 87.7%; underwriting loss. 37.4%. Miscellaneous, 1919.— Net losses incurred, fire and miscellaneous, $100,482.73; marine and inland. $2,579.06: net risks in force December 31. 1919, fire and miscellaneous, 39,981,607: marine and inland, $184,278; net premiums in force, fire and miscellaneous, $416,840.89: marine and inland, $13,053.01.

Underwriting Exhibit, 1919.— Premiums earned during 1919, $207,74.2.79; loss from underwriting profit and loss items, $221.35; total. $207,521.44.

Losses incurred during 1919, $103,061.79; underwriting expenses incurred during 1919, $182,166.99; total, $285,-228.78.

Loss from underwriting during 1919, $77,707.34. Investment Exhibit, 1919.—Interest, etc., earned during 1919, $32,723.06.

Loss on investments during 1919. $15.899.18: investment expenses incurred during 1919, $1.331; total, $20,230.18.

Gain from investments during 1919, $12.492.88.

Gain and Loss Exhibit, 1919.— Gains: Investments, $12,-492.88; surplus paid in, $150,000; total, $162.492.88.

Loss from underwriting, $77,707.34.

Surplus, December 31, 1918, $214,563.37; increase, $84,-785.54: surplus, December 31, 1919, $299,348.91.

Net Premiums   Net Losses

MISCELLANEOUS CLASSES:   Written.   Incurred.

Motor vehicles    $13, 626 99   $2, 579 06

Windstorm and tornado....   3,250 23   1,538 43