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32 BEST'S INSURANCE REPORTS—FIRE AND MARINE.
ASSURANCE COMPANY OF AMERICA—Continued.
Classes of Business Written.—Fire, marine, explosion and motor vehicle insurance..
Territory.—It is licensed in Colo., Conn., ' I11., La., Md., Mass., _Minn., Miss., Mo., N. J., N. Y., O., Pa., R. I., Wash. and Wis. It also writes lines in other States direct.
Dividends.— 1900 and 1901, 12%; 1902, 5%; 1904, 4.3%; 1905 to 1909, inc., none; 1910 to 1914, inc., 5%; 1915 and 1916, respectively, 8%; 1917 and 1918, 10%; 1919, 15%.
Officers.— President, R. Bleecker Rathbone; vice-president, Albert R. Ledoux; secretary, Charles S. Conklin; assistant secretary, Rathbone Williams.
Directors.-
Ackerson, G. G., of General Chemical Co.
Atwood, Kimball C., president Preferred Accident Insurance Co.
Conklin, Charles S., insurance.
Diaz, Jose M., president Preferred Havana Tobacco Co. Hall, Edward E., insurance.
Ledoux, Albert R., Ledoux & Co.
Masury, John \V., president John W. Masury & Son. Maxwell, Jos. S., vice-president Liberty National Bank. Pouch, Fred H., president Am. Dock & Trust Co. Rathbone, R. Bleecker, insurance.
Willcox, \V. G., Albert Willcox & Co.
Williams, Rathbone, insurance.
INCOME, 1919. Marine
Fire, etc. and Inland
Gross premiums written.. $796, 320 52 $269, 038 50
Less reinsurance .... 278,417 20 119,447 47
Less return premiums.. 155,992 73 37.654 26
Total net premiums.. $361,910 59 $111,936 77
Interest, etc 38.830 4S
Other income 10,967 00
TOTAI. INCOME $523,644 84
DISBURSEMENTS, 1919.
Net losses paid:
Fire and miscellaneous $102, 540 99
|
Marine and inland |
47,602 40 |
|
|
TOTAL |
$150, 143 39 |
|
|
Underwriting expenses |
176.767 68' |
|
|
Dividends to stockholders |
30, 000 00 |
|
|
Other disbursements |
21, 744 32 |
|
|
TOTAL DISBURSEMENTS |
$37S, 655 39 |
|
Ratios to Premiums Written.—Losses paid, fire, etc., 28.3%; marine, 42.5%; incurred, 36.3%; underwriting expenses, 37.3%; underwriting profit, 8.9%.
Ratios to Premiums Earned.—Losses incurred, 44.0%; expenses incurred, 45.2%; underwriting profit, 10.8%.
Miscellaneous, 1919.—Net losses incurred, $172,152.39; net risks in force December 31, 1919, fire and miscellaneous, $51,987,047; marine and inland, $4,827,950; net preniiunis in force, fire and miscellaneous, $543,079.75; marine and inland, $109,617.16.
Underwriting Exhibit, 1919.— Premiums earned during 1919, $390,829.05; gain from underwriting profit and loss items, $150; total, $390,979.05.
Losses incurred during 1919, $172,152.39; underwriting expenses incurred during 1919, $176,587.41; total, $348,-739.80.
Gain from underwriting during 1919, $42,239.25.
Investment. Exhibit, 1919.—Interest, etc., earned during 1919, $38,357.22; profit on investments during 1919, $10.-S17; total, $49,174.22.
Loss on investments during 1919, $20,614.25; investment
expenses incurred during 1919, $1,130.07; total, $21,744.32. Gain from investments during 1919, $27,429.90.
Gain and Loss Exhibit, 1919.— Gains: Underwriting,
$42,239.25; investments. $27,429.90; total, $69,669.15. Loss from dividends, $30,000.
Surplus, December 31, 191S, $642,011.07; increase, $39,-669.15; surplus, December 31, 1919, $681,680.22.
Net Premiums Net Losses
MISCELLANEOUS CLASSES: Written. Incurred:
Motor vehicles $109,421 12 $54,407 12
Explosion 2, 515 65
Stockholder
Annual Meeting.— Third Wednesday in .January.
'
ATLANTIC CITY FIRE INSURANCE COMPANY,
Atlantic and Tennessee Avenues, Atlantic City, N J.
ADMITTED ASSETS, DECEMBER 31, 1919.
|
Real estate owned (market value) |
$142, 000 |
00 |
|
Rents due and accrued |
400 |
00 |
|
Mortgage loans on real estate |
48,950 |
00 |
|
Interest due and accrued thereon |
786 |
43 |
|
Bonds and stocks owned (market value) |
251. 634 |
00 |
|
Interest due and accrued thereon |
1.807 |
50 |
|
Cash in banks and office |
20,539 |
59 |
|
Agents' balances not over three months due. |
16, 498 |
19 |
|
Other admitted assets |
25.625 |
61 |
|
TOTAL ADMITTED ASSETS |
$508, 241 |
32 |
|
GENERAL REVIEW. |
|
the |
|
History.— This company was incorporated under | ||
laws of New Jersey, July 8, 1902, and began business January 5, 1903, with $100,000 capital paid in. In August, 1918, the paid-in capital was increased to $200,000, and $25,000 was collected for surplus. The par value of the stock is $100.
LIABILITIES, DECEMBER 31, 1919. LOSSES: Adjusted, not due, $2,891.41; in
process of adjustment, $9,156.16: total $12.047 5i
Unearned premiums 84.065 42
Salaries, rents, etc 166 82
Estimated taxes hereafter payable 734 77
TOTAL LIABILITIES, except capital. $97.014 5S
CAPITAL PAID UP 200,000 00
NET SURPLUS 211. 226,74
TOTAL $508, 241 32
No surplus was contributed when the company started, the surplus shown above having been earned, with the exception of the $25,000 paid in during 1918.
Prior to 1918 the company was licensed only in New Jersey, but in that year it entered New York and Pennsylvania.
Management and Reputation.— The company has made
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