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BEST'S INSURANCE REPORTS—FIRE AND MARINE. 65
CANADA NATIONAL FIRE INSURANCE COMPANY— Continued.
Directors.— INCOME, 1919.
Alexander, F. TI. Gross premiums written $287, 377 55
Alexander. W. T. Less reinsurance 102,412 51
Boyd, V. J.
Carscallen, Dr. A. D.
Darke, F. N., Reginia, Sask., director Canadian Guaranty Trust Co.
Gray, Andrew. Victoria. B. C., proprietor Marine Iron Works.
Lazier, S. D., Toronto, Ont.
Rutherford, Col. A. C., Edmonton, Alta., director Great West Permanent Loan Co.
McPherson, Thos. S., Victoria, B. C., financial broker. Russell, J. H. G.
Sprague, Lt.-Col. D. E.
Taylor, E. L.. Winnipeg, Man., vice-president Monarch Life Assurance Co.
CANADA SECURITY ASSURANCE COMPANY,
26-30 Elma Block, Calgary, Alberta.
Total net premiums $184,965 04
Interest. etc 152,230 63
TOTAL INCOME $337,195 67
DISBURSEMENTS, 1919.
Net losses paid $61.883 96
Underwriting expenses 109,603 98
Dividends to stockholders 109,278 66
Other disbursements 2.589 36
TOTAL DISBURSEMENTS $283,355 96
ADMITTED ASSETS, DECEMBER 31, 1919.
Mortgage loans on real estate $2, 000 00
Interest due and accrued thereon 189 57
Bonds and stocks owned (market value) 244, 815 04
Interest due and accrued thereon 2,521 71
Cash in banks and office 1.087 48
Agents' balances not over three months due 16, 748 63
Other admitted assets 1,565 47
`
TOTAL ADMITTED ASSETS $268. 927 90
GENERAL REVIEW.
History.— This company was incorporated in March, and began business in June, 1913, with $500,000 authorized capital, all of which has been subscribed and $150.000 paid in.
The par value of the stock is $100 per share: the stock was sold at par.
Management and Gcputation.—This company transacts hail insurance only, and its operations in 1917. 1918 and 1919 were profitable.
The securities owned are of good character.
The secretary and branch manager is an insurance inspector in Calgary, Alberta, and was formerly special agent of the American Central Insurance Company, of St. Louis.
The company is a member of the Canadian Hail Under-writers Association and the Wesier1 Canada Fire Under-writers Association.
Ofcers.—President-manager. John B. Laidlaw; vicepresident-secretary. Sir James Langheed; secretary and branch manager, T. B. Redding.
Directors.— Redding. T. B.: Whitley. E. M.; Redding. Jos. G.; Laidlaw. J. B.: Langheed. Sir James; Coste, Eugene: Mann, H. D.; Mackay. A. B.: Nourse. C. G. K.
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LIABILITIES, DECEMBER 31, 1919. |
|
|
|
Unpaid losses |
$800 |
00 |
|
Unearned premiums |
24,125 |
29 |
|
Estimated taxes hereafter payable |
11,335 |
13 |
|
Reserve on unlicensed reinsurance, unsecured (fire) |
1,314 |
40 |
|
Reinsurance premiums (net) |
9,751 |
34 |
|
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|
— |
|
|
| |
|
TOTAL LIABILITIES, except capital. |
$47, 326 |
16 |
|
CAPITAL PAID UP |
150, 000 |
00 |
|
NET SURPLUS |
71,601 |
74 |
|
TOTAL |
$268. 927 |
90 |
Territory.—the company is licensed in Alberta and Saskatchewan.
Stockholders' Annual Meeting.—Third Thursday in February.
INCOME, 1919.
Gross premiums written $302.577 10
Less reinsurance 61.597 SO
Less return premiums 41,860 94
Total net premiums $199,118 36
Interest. etc 6. 908 90
Other income 6.947 95
TOTAL INCOME $2_12,975 21
DISBURSEMENTS, 1919.
Net losses paid $97.947 15
Underwriting expenses 93.919 11
Dividends to stockholders :16.000 00
Other disbursements 7.501 86
TOTAL DISBURSEMENTS $235,368 12
.Miscellaneous, 1919.—Net losses incurred, $97.947.15; net risks in force December 31, 1919, $1,886,568; net premium, in force. 4.16.045.17.
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