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BEST'S INSURANCE REPORTS—FIRE AND MARINE. 47
INSURANCE COMPANY — Continued.
Underwriting Exhibit, 1919.— Premiums earned during 1919, $136,595 29; gain from underwriting profit and loss items, $16,875; total, $153,470.29.
Losses incurred during 1919, $57,259.05; underwriting expenses incurred during 1919, $77,591.64; total, $18,319.60. Investment Exhibit, 1919.—Interest, etc., earned during 1919. $28,154.77; profit on investments during 1919, $12.50; total, $28,167.27.
Loss on investments during 1919, $2,907.25; investment expenses incurred (luring 1919, $3,893.58; total, $6,801.13. Gain from investments during 1919, $21,366.14.
Gain and Loss Exhibit, 1919.— Gains: Underwriting, $18.319.60; investments, $21,366.14; total, $39.685.74. Loss from dividends, $32,000.
Surplus, December 31, 191S. $192,681.80; increase, ,$7,-685.74: surplus, December 31, 1919. $200,367.54.
BIRMINGHAM FIRE
DISBURSEMENTS, 1919.
Net losses paid
Underwriting expenses
Dividends to stockholders
Other disbursements
TOTAI. DISBURSEMENTS
Ratios to Premiums Written.—Losses paid, 40 1%; incurred, 41.0%; underwriting expenses, 53.2%; underwriting profit, 12.5%.
Ratios to Premiums Earned.— Losses incurred, 41.9%; expenses incurred, 57.0%; underwriting profit. 13.4%.
Miscellaneous, 1919.— Net losses incurred, $57.259.05: net risks in force December 31, 1919, $25,568.189: net premiums in force, $293,950.07
BOSTON INStiRANCE COMPANY,
87 Kilby Street, Boston, Mass.
$58.667 21 77.891 64 32. 000 00
6. 888 S2
$175.447 67
.
ADMITTED ASSETS, DECEMBER 31, 1919.
Real estate owned (market value )_ $483,.00 00
Mortgage loans on real estate 23S, 50''d Q0
Interest due and accrued thereon 3.319 09
Loans on collateral security :. 4,757 22
Bonds and stocks owned (market value) 9. 138, 585 50
Interest due and accrued thereon 65,010 10
Cash in banks and office 1,073,582 01
Agents' balances not over three months due 1,251,218 03
Bills receivable taken for marine and inland
risks 187, 889 36
Reinsurance due on losses paid 128.43S 17
Other admitted assets 487 49
TOTAL $12,575.386 9i
Deduct market value of special deposits in
excess of corresponding liabilities.... 783 22
TOTAL ADMITTED ASSETS $12, 574, 603 75
GENERAL REVIEW'.
History.— This company was incorporated in .December, 1873, with $300,000 authorized capital (par value $100) as the Boston Marine Insurance Company, and began business January 20, 1874, writing only marine insurance. In 1876 its capital was increased to $500,000. and in 1881 to $1,000,00. In 1886 it was authorized to write fire insurance, but did not commence writing that class of business until April. 1S96. In April, 1898, its present title was adopted
The Old Colony Insurance Company of Boston is under the same management.
On August 1, 1915, this company reinsured practically all of the business of the Michigan Commercial Insurance Company, of Lansing, Mich. -
Policies entitled "Michigan Commercial Underwriters" are guaranteed by this company. ,
Management and Reputation.— The company has been conservatively managed and has made excellent progress. It has paid substantial dividends to stockholders besides having built up a large surplus. It is backed by substantial interests.
The control of the company is not closely held. The di-
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LIABILITIES, DECEMBER 31, 1919. |
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LOSSES: Adjusted, due, $6,510.91; not |
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due, $143,661.83; in process of adjust- ment, $2,681,422.63; resisted, $47,347; total, $2,878,942.37; reinsurance, $880,- |
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787.75; net |
$1,998,154 |
6.2 |
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Unearned premiums: Fire and miscellane- ous, $3,855,537.78; inland navigation, $459,892.86; marine, $677,265.98: total |
4,992,696 |
6.2 |
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Dividends to stockholders unpaid |
140,000 |
00 |
|
Salaries, rents, etc |
15,200 |
00 |
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Estimated taxes hereafter payable |
236, 754 |
00 |
|
Contingent commissions, etc |
15, 122 |
00 |
|
Special reserve for reinsurance |
50,000 |
00 |
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TOTAL LIABILITIES, except capital. |
$7,447,927 |
24 |
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CAPITAL PAID UP |
1,000,000 |
00 |
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NET SURPLUS |
4,126,676 |
51 |
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TOTAL $12,574,603 |
75 | |
rectors owned at the end of 1919 $118,300, par value, of the company's $1,000,000 capital stock.
The business written in the larger cities is of moderate volume, indicating that the conflagration hazard is careful:- observed.
Its expenses of operation have been low, and its average loss ratio normal.
Its investments are of excellent character. The security valuations shown in this statement are those fixed by the Convention of Insurance Commissioners.
The real estate owned is the company's Home Office property at the corner of Milk and Kilby streets, Boston, carried at $4S3,600. The mortgages are all upon property in Boston and its suburbs, and are well secured.
The company is in excellent repute concerning its treatment of loss claims.
ffiliations. Eastern Union, Western Insurance Bureau, Southeastern Underwriters Association, Board of Fire Underwriters of the Pacific, Reeky Mountain Underwriters Association, Canadian Fire Underwriters Association, Western Canada Fire Underwriters Association, Mainland Board of Fire Underwriters, Eastern Automobile Under-writers Conference, National Automobile Underwriters
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