A.M. Best Fire and Marine Insurance Companies (1919)

64 BEST'S INSURANCE REPORTS—FIRE AND MARINE.

CANADA ACCIDENT AND FIRE ASSURANCE COMPANY — Continued.

GENERAL REVIEW.

History.— This company was incorporated June 23, 1857, and began business September 10, 1888, with $500,000 authorized capital, of which $108,300 has been subscribed and $43,320 paid in.

It is owned and controlled by the Commercial Union Assurance Company, Limited, of London, England, a very strong and reputable institution.

Affiliations.— Canadian Fire Underwriters Association, Western Canada Fire Underwriters Association, Mainland Board of Fire Underwriters, New Brunswick Board of Fire Underwriters, Nova Scotia Board of Fire Underwriters.

Classes of Business TFritten.—Fire, accident and health, plate glass, liability, automobile and teams property dam-age and fidelity bonds.

Territory.— The company has a Dominion license.

Officers.— President, S. H. Ewing; vice-president, Hon. N. Curry; managers, T. H. Hudson and H. F. Roden.

Directors.— The above officers, together with Godfrey, C. H.; Jopling, W. S.; McGregor, James, all of Montreal.

Stockholders' Anneal Meeting.— First Wednesday in March.

INCOME, 1919.

Gross premiums written	$736,472	33
Less reinsurance	117,493	85
Less return premiums	116, 041	83
Total net premiums	$502, 936	65
Interest, etc	25,121	49
Other income	1,049	81
TOTAL INCOME	$529,107	95
DISBURSEMENTS, 1919. Net losses paid	$300,697	11
Underwriting expenses	200,046	89
Dividends to stockholders	• 2.1b6	00
TOTAL DISBURSEMENTS	$502, 910	00

Ratios to Premiums Written.— Losses paid, 59.8%; incurred, 52.9%; underwriting expenses, 39.8%; underwriting loss, 1.6%.

Ratios to Premiums Earned.—Losses incurred, 58.1%; expenses incurred, 43.7%; underwriting loss, 1.7%.

Miscellaneous, 1919.— Net risks in force December 31, 1919, $34,873,422; net premiums in force, $376,138.03.

CANADA NATIONAL FIRE INSURANCE COMPANY, Winnipeg, Manitoba, Can.

ADMITTED ASSETS, DECEMBER 31,	1919.		LIABILITIES, DECEMBER 31, 1919.
Real estate owned (market value)	$404,296	97	Losses in process of adjustment	$5, 500	00
Mortgage loans on real estate and accrued			Unearned premiums	144, 486	28
interest	1, 434, 103	89	Accounts payable	15,265	80
Bonds and stocks owned and accrued in-			Reinsurance premiums	63, 819	23
terest	679,296	97	Dividends to stockholders unpaid	109, 278	66
Cash in banks and office	33, 238	67	Bank overdraft — Imperial Bank	55, 456	50
Agents' balances	47,366	90	Contingent reserve fund	100,000	00
Accounts receivable	1,015	54
Accounts receivable	1,015	54
Other assets	17, 763	84	TOTAL LIABILITIES, except capital.	$493, 806	47
			CAPITAL PAID UP	1, 825, 958	20
			NET SURPLUS	297, 585	42
TOTAL ADMITTED ASSETS $2, 617, 350		09	TOTAL $2, 617, 350		09

GENERAL REVIEW.

History.— This company was incorporated on April 7, 1909, by a special act of the Parliament of Canada, acid began business August 8, 1911. Its authorized capital is $3,000,000, of which $2,050,400 has been subscribed. Its stock, par value $100 per share, was sold at $115 per share.

In 1911, $380,044.13 capital and $279,061 surplus were collected. The organization expenses during that year amounted to $101,423.17. In 1912, $386,610.7 9 capital and $27,214 surplus were collected. During 1913, $290,652.55 capital was paid in and $817.61 surplus. In 1914, $270,-152.89 capital was collected; in 1915, $230,367.69; in 1916,

nent Loan Company of Winnipeg, and it was mainly through his efforts that the company was organized. He is also managing director of the Imperial Canadian Trust Company of Winnipeg. Several of the directors of the company are also identified with the Great West Permanent Loan Company and the Imperial Canadian Trust Co.

The company transacts a very moderate amount of business in proportion to its large net resources. Its loss ratios in recent years have been moderate.

The real estate consists of the company's head office property and other property carried at $404,296.97. The mortgage investments are distributed through the four western

$150,332.64, and in 1917, $53,887.93. No surplus was paid i;1 during those years. This made the paid-in capital at the end of 1917, $1,762,048.65. In 1918 the capital was in- creased to $1,795,077.70, and in 1919 to $1,825,958.20. It maintains a reserve fund of $100,000 to meet any	provinces and Western Ontario. Class of Business TVritten.—Fire insurance.
	Territory.— The company transacts business throughout
	the Dominion of Canada, except in Prince Edward Island, Province of Quebec and Newfoundland.
contingencies arising from depreciation of securities or	Dividends.— In 1913 a dividend of $28,914.72 was de-
from other causes.	clared for that year, and in 1914, $71,420.98.	In 1915, $86,-
Besides its own policies it issues and guarantees the	466.57 was declared; 1916, $99,235.90; 1917,	$105,193.59;

policies of the Federal Underwriters, Ltd.

Management and Reputation.—The company is backed by substantial interests. W. T. Alexander, its managing di-rector, is president and manager of the Great West Perma-

1918, $107,375.37; 1919, $109,278.66.

Officers.—President, J. H. G. Russell; vice-presidents, Lt.-Col. D. E. Sprague and F. H. Alexander; managing director, W. T. Alexander.