40   BEST'S INSURANGE REPORTS-FIRE AND MARINE.

BALTICA INSURANCE COMPANY, LTD.—Continued.

ASSETS, DECEMBER 31, 1918.   The company transacts a direct marine insurance busi

ness in this country and also a fire reinsurance business.

The securities owned by the United States Branch are of excellent character.

Territory.— In the United States it is licensed in Colo., Del., Ill., La.. Mass., Mont., Nev.. N. H., N. J., N. Y. N. C., O., Pa., Tex. and W. Va.

The United States trustee is the Guaranty Trust Company, New York City

United States Manager.—Franklin W. Fort, Newark N. J.

Classes of Business Illrittcn.—The United States Branch writes direct marine insurance and fire reinsurance.

Shareholders' liabilities for uncalled capital 12. 750, 000 00

Securities held   8,365.450 55

Cash in banks and office    9,252,783 44

Deposits with other companies    1.708.462 59

Interest accrued    135,894 26

Due by other agents and companies    7,250' 089 00

Office furniture, etc   55, 000 00

Crowns   39.517,679 84

LIABILITIES, DECEMBER 31, 1918.

Stock capital    17,000.000

Reserve fund    

Investment fluctuation funds    

Pension and assistant fund       
Marine and transportation insurance: Reserve for unexpired risks 3, 100, 000 00 Reserve for outstanding

claims   7,900,000 00

   nn_

Fire and burglary insurance:

Reserve for unexpired risks 1. 850, 000 00

Reserve for outstanding claims   1,620.000

Accident, third party, etc., insurance:
   Reserve for unexpired risks   185. 000

280, 000 00

6.183.069
318, 750
285. 112
3. 558
2.948

Crowns   39. 517, 679 84 During 1918 the company wrote net marine premiums of' 30.290,612.79 crowns, and the net losses paid in that branch amounted to 15,454.862.92 crowns.

In the fire and burglary branch the company wrote net premiums of 5.355 980.19 crowns' and paid net losses of 1,783,857.67 crowns.

In the accident branch the net premiums written itt 1918 amounted to 829.607.64 crowns and the net losses paid were 189.453.45 crowns.

The company- was admitted to the United States in January, 1919. its license being granted by the New York Im surance Department on January 16, 1919.

Management and Reputation.— The company- is in excel-lent repute at its home, and is under conservative management.

The United States manager for the fire department is Franklin W. Fort, secretary of the Eagle Fire Insurance Company. Newark, N. J.. who is of excellent repute. O'Keeffe & Lynch are United States managers of the marine department. They also act in the same capacity for the City of New York Insurance Company.

INCOME, U. S. BRANCH, 1919.

Marine

   Fire, etc.   and Inland.

Gross premiums written..   $558, 036 49   $307, 954 90

. Less reinsurance    49,022 S7   1,299 21.

Less return premiums..   68, 425 34   4, 120 17

Total net premiums..   $440.588 28   $302.535 61

Interest, etc   40,185 Si

Received from Home Office    1,563, 726 96

Other income    956 38

TOTAL INCOME    $2.347,993 04

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

Fire and miscellaneous    $69.022 66

Marine and inland    49.004 52

TOTAL   $118.027 18

Underwriting expenses    179.898 42

Remitted to Home Office    300.000 00

Other disbursements    320 00

TOTAL DISBURSEMENTS    $598,245 60

Ratios to Premiums Written.—Losses paid, fire, etc., 15.7%; marine, 16.2%; incurred, fire, etc., 24.9%; marine, 81.6%: underwriting expenses, 24.2%; underwriting loss. 12.2%.

Ratios to Premiums Earned.— Losses incurred. 78.2%; expenses incurred, 41.7%; underwriting loss, 19.S%. Miscellaneous, 1919.— Net losses incurred, fire and miscellaneous. $110,013.66; marine and inland, $246,862.52; net risks in force December 31, 1919. fire and miscellaneous, $60.071,768; marine and inland, $9,794,616; net premiums in force, fire and miscellaneous, $365,895.90; marine and inland, $110,664.85.

Underwriting Exhibit, 1919.—Premiums earned (luring 1919. $456.448.85.

Losses incurred during 1919, $356,876.18; underwriting expenses incurred during 1919, $190,187.33: total, $547.-063.51.

Loss from underwriting (luring 1919, $90.614.66.

Investment Exhibit. 1919.— Interest, etc., earned during 1919. 860,32694: profit on investments during 1919, $956.38; total, $61.283.32.

Loss on investments during 1919, $27,187.48: investment expenses incurred (luring 1919, 81,784.40; total, $28,971.88. Gain from investments during 1919, $32,311.44.

750, 000 24, 240

00 00 74

00 00

200, 000 00 11, 000. 000 00 3.470.000 Of

Due to other companies.... Deposits from other com

panies   1.503. 870 35

Dividends to shareholders    

Royalties to direction and staff   

Unclaimed dividends    

Carried forward   

95. 000 00 4.679.199 59

94 00 23 00 93