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BEST'S INSURANCE REPORTS FIRE AND MARINE. 59
CALEDONIAN INSURANCE COMPA:N 1-, Edinburgh, Scotland.
UNITED STATES BRANCH, 50-52 PINE STREET, NEW YORK.
ADMITTED ASSETS, L. S. BRANCH, DECEMBER 31, 1919.
|
Real estate owned (market value) |
$410,000 |
00 |
|
Bonds and stocks owned (market value) |
1, 990, 529 |
00 |
|
Interest due and accrued thereon |
20.203 |
37 |
|
Cash in banks and office |
171,396 |
71 |
|
Agents' balances not over three months due. |
446, 416 |
10 |
|
Due for reinsurance on losses paid |
7,377 |
86 |
TOTAL ADMITTED ASSETS $3,045,923 04
GENERAL REVIEW.
History.— This company was established in 1805. Its authorized capital is £1,000,000, of which £537,500 have been subscribed and £107,500 paid in. It entered the United States in 1880, and controls and operates the Caledonian-American Insurance Company, of New York.
Besides its own policies, it' issues and guarantees those entitled " Scotch Underwriters."
Management and Reputation.—The company is conservatively managed and is in excellent standing at its home and in this country.
It is in excellent repute concerning its general treatment of loss claimants. Its expense and loss ratios have been about normal.
The investments of the United States Branch are of excellent character. The security valuations in this statement are those fixed by the Convention of Insurance Commissioners. .
The real estate consists of a modern fire proof office building, located at 50 Pine street, N. Y.. and carried at its assessed value.
Affiliations.— Eastern Union, Western Union, Southeast-ern Underwriters Association, Board of Fire Underwriters of the Pacific, Rocky Mountain Underwriters Association, Eastern Automobile Underwriters Conference, National Automobile Underwriters Conference, New England Automobile Underwriters Conference, Western Automobile Underwriters Conference.
United States Manager.—Charles H. Post, New York: assistant manager, R. C. Christopher.
United States Trustees.— Walter Phelps Bliss, E. G. Merrill and John Yates Gholson Walker of New York.
Classes of Business Written.—The company writes life, fire. accident and liability insurance. Ins he United States and Canada it writes fire, sprinkler leakage, automobile and tornado insurance.
Territory.— It is licensed in all the States and Territories except Ark., Guam, N. M., N. D., Okla., Philippine Islands, Porto Rico, S. C., S. D. and the Virgin Islands. It also operates in Canada.
Department.— Pacific Coast Department, Balfour,
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LIABILITIES, U. S. BRANCH, DECEMBER 31. 1919. |
| |
|
LOSSES: Adjusted, due, $14,813.06; not due, $31,795.10; in process of adjustment. $189,108.83; resisted, $17,024.64; total, |
|
|
|
$252,741.63; reinsurance, $78,385.98; net. |
$174,355 |
65 |
|
Unearned premiums': Fire and miscellane- ous, $1,755,481.97; inland navigation, $153,273.28; total |
1,908,755 |
25 |
|
Salaries, rents, etc |
2, 000 |
00 |
|
Estimated taxes hereafter payable |
50, 000 |
00 |
|
Reserve for contingencies |
10, 000 |
00 |
|
TOTAL LIABILITIES, except statutory |
|
90 |
|
capital deposit $2.145,110 | ||
|
STATUTORY CAPITAL DEPOSIT, $200,000. NET SURPLUS, U. S. Branch, Including Statutory Capital Deposit |
900,812 |
14 |
|
TOTAL $3,045,923 |
04 | |
Guthrie & Co.. Geo. O. Hoadley, fire manager, San Francisco, Cal.
INCOME. U. S. BRANCH, 1919.
Marine
Fire, etc. and Inland.
Gross premiums written.. $3,439,703 87 $436, 958 58
Less reinsurance 907,188 20 29,955 68
Less return premiums.. 678, 267 35 127, 164 10
80 67 00
TOTAL INCOME $2,270.148 79
DISBURSEMENTS, U. S. BRANCH, 1919. Net losses paid:
Fire and miscellaneous $763,251 49
Marine and inland 259.319 91
TOTAL $1,022,571 40
Underwriting expenses 914,513 22
Remitted to Home Office 174, 804 34
Other disbursements 122,558 67
TOTAL DISBURSEMENTS $2.234.447 63
Ratios to Premiums Written.—Losses paid. fire, etc., 41.1%; marine, 92.7%; incurred, 44.8%; underwriting expenses. 42 8%; underwriting profit, 8.2%.
Ratios to Premiums Earned.— Losses incurred, 46.3%; expenses incurred, 45.3%; underwriting profit, 8.5%. Miscellaneous, 1919.—Net losses incurred, $955,917.97; net risks in force December 31, 1919, fire and miscellaneous, $325,570,582; marine and inland, $8,556,265; net premiums in force, fire and miscellaneous, $3,365,027.88; marine and inland. $306,546.57.
Underwriting Exhibit, 1919.— Premiums earned during 1919, $2.062,956.79; gain from underwriting profit and loss items, $3,212.03; total, $2,066,168.82.
Losses incurred during 1919, $955,917.97; underwriting expenses incurred during 1919, $934.513.22; total, $1,-890,431.19.
Total net premiums.. $1,854.248 32 $279,838
Interest, etc 136, 041
Other income 20
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