36   BEST'S INSURANCE REPORTS—FIRE AND MARINE.

ATLAS ASSURANCE

DISBURSEMENTS, U. S. BRANCH, 1919. Net losses paid:

Fire and miscellaneous    $1, 327, 341 SS

Automobile   82, 441 16

TOTAL   $1.409,783 04

Underwriting expenses    1,409.853 11

Remitted to Home Office    146, 632 09

Agents' balances charged off    13.907 08

Investment expenses    13,420 02

TOTAL DISBURSEMENTS    $2,993,595 34

Ratios to Premiums Written.— Losses paid, fire, etc., 40.4%; automobile, 50.6%; incurred, 40.6%; underwriting expenses, 409%; underwriting profit, 5.4%.

Ratios to Premiums Earned.— Losses incurred. 45.6%; expenses incurred, 47.1%; underwriting profit, 6.1%.

Miscellaneous, 1919.—Net losses incurred, $1,401,783.60; net risks in force December 31, 1919, fire and miscellaneous, $533,566,177; automobile, $7,485,485; net premiums in force, fire and miscellaneous, $5,104,134.84; automobile, $158,450.19.

Underwriting Exhibit, 1919.—Premiums earned during 1919, $3,070,051.88; loss from underwriting profit and loss items, $34,136.58; total, $3,035,915.30.

Losses incurred during 1919, $1,401,783.60: underwriting

COMPANY, LIMITED — Continued.

expenses incurred during 1919, $1,446,586.64; total, $2,-

848,370.24.

Gain from underwriting during 1919, $187,545.06. Investment Exhibit, 1919.— Interest, etc., earned during 1019, $156,202.12.

Loss on investments during 1919, $76,554.50; investment expenses incurred during 1919, $13,420.02; total, $90,274.52. Gain from investments during 1919, $65,927.60.

Gain and Loss Exhibit, 1919.— Gains: Underwriting, $187,545.06; investments, $65,927.60; other sources, $8,-292.9S; remitted from Home Office, $9,925.40; total, $271.-691.04.

Losses: Remitted to Home Office, $146.632.09.

Surplus, including deposit capital, U. S. Branch, December 31, 1918, $1,228,278.77; increase. $125,058.95; surplus, including deposit capital, U. S. Branch, December 31, 1919,

ATLAS NATIONAL INSURANCE COMPANY,
213 Security Bank Bldg., Sioux Falls, S. Dak.

ADMITTED ASSETS, DECEMBER 31. 1919.

GENERAL REVIEW.

History.— This company was incorporated under the laws of the State of South Dakota on August 5, 1919, was licensed October 28, 1919, and began business November 1, 1919, with $200,000 authorized capitalization, of which $100,000 was subscribed and paid in, and a surplus of $100,000. Stock, par value $100 per share, was sold at $200 per share to provide the surplus. There was no expense connected with the sale of stock, which is commendable.

The Commissioner of Insurance permitted the company to employ special agents and secure an agency plant before the organization was actually completed, and agents were solicited beginning October 7, 1919.

Management and Reputation.— Z. A. Hazard, secretary-treasurer and general manager, has been engaged in the insurance business for many years and since 1909 has been manager of the Sioux Falls Mutual Fire Insurance Company.

H. E. Judge, first vice-president, is president of the Sioux Falls Mutual Fire Insurance Company.

F. H. Hollister, second vice-president, for a number of years has had a local agency in Sioux Falls, S. D., and a

LIABILITIES, DECEMBER 31, 1919. Unearned premiums

   $2,338 56

Contingent commissions, etc    133 20

TOTAL LIABILITIES, except capital   $2, 471 76

CAPITAL PAID UP    100,000 00

NET SURPLUS   92,608 15

TOTAL   $195, 079 91

general agency for part of South Dakota for the Columbia Insurance Company of Jersey City, N. J.

The other directors are men of substantial. business interests in Sioux Falls, and they, together with the others. own at par value $52,500 of the company's stock. The stock is held by less than twenty-five stockholders.

For the present the company will write only fire, lightning, tornado, transportation and theft insurance on automobiles for terms of one, two, three or four years. It will not use conference rates and has submitted to us its own schedules.

The volume of business transacted was small and does not justify comment regarding loss and expense ratios.

We have received no complaints concerning its loss paying reputation.

Character of Investments.— Its securities are of the highest grade, consisting entirely of Liberty Loan Bonds.

Classes of Business Written.— Automobile, fire and theft, tornado.

Territory.— Minnesota, 'South Dakota.

Officers.— President, W. Z. Sharp; vice-presidents, H. E. Judge and F. H. Hollister; secretary-treasurer and general manager, Z. A. Hazard.