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

BEST'S INSURANCE REPORTS—FIRE AND MARINE. 67

CANADIAN INDEMNITY COMPANY,
Winnipeg, Manitoba, Can.

ADMITTED ASSETS, DECEMBER 31, 1919.

Mortgage loans on real estate $166, 353 46

Interest due and accrued thereon 2.294 52

Bonds and stocks owned (market value) 227, 027 9S

Interest due and accrued thereon 1,936 66

Cash in banks and office 37,021 50

Agents' balances not overdue 3, 861 64

TOTAL ADMITTED ASSETS $43S, 495 76

LIABILITIES, DECEMBER 31, 1919.

Losses in process of adjustment $595 05

Unearned premiums 44, 890 99

Estimated taxes hereafter payable 67, 071 51

Contingent commissions, etc 5,887 73

TOTAL LIABILITIES, except capital. $118, 445 28

CAPITAL PAID UP 300, 000 00

NET SURPLUS 20,050 48

TOTAL $438, 495 76

GENERAL REVIEW.

History.— This company was incorporated under the laws of the Province of Manitoba, March 26, 1912, and began business May 1, 1912, with $500,000 authorized capital, of which $200,000 was subscribed and $30.000 paid up. Stock dividends of $20,000 in 1912, $10,000 in 1913, $40,000 in 1914 and $100,000 in 1916 increased the paid-in capital to $200,000 at the end of 1918. In 1919 this company was taken over by a company of the same name but a Dominion incorporation. The entire capital of $200,000 of the Provincial company was purchased at $150 per share and the present company has a paid-in capital of $300.000.

The par value of the stock is $100 per share.

Management and Reputation.— The company has reputable backing. Its operations in 1915 were very successful. In 1916, however, the losses were heavy and the underwriting results very unprofitable. This together with the stock

pany, Northern Trusts Company, Imperial Bank of Canada. Ashdown, J. H., president Canadian Fire Insurance Company, director Northern Trusts Company, Northern Mort-gage Company and Northern Crown Bank.

Crowe, G. R., director Royal Bank of Canada, Great \Vest Life Assurance Company, Northern Trusts Company, Northern Mortgage Company and Canadian Fire Insurance Company.

Denison, A. L., superintendent of agencies.

Galt, John, director Union Bank of Canada, Canadian Fire Insurance Company, Alberta Railway and Irrigation Company.

Hastings, George V., general manager Lake of the Woods Milling Company, president Northern Mortgage Company, director Northern Trusts Company and Canadian Fire Insurance Company.

Riley, C. S., manager Canadian Fire Insurance Company.

dividend paid in that year resulted in an impairment of capital of $21,679.40.	Riley, R. T.. managing director Northern Trusts Com- pany, Northern Mortgage Company, vice-president Cana-
In 1917, 1918 and 1919 the business was profitable and the surplus increased. The underwriting expenses have been low. Tile company is closely affiliated with the Canadian Fire Insurance Company of Winnipeg. C. S. Riley- being mana-	dian Fire Insurance Company and Great West Life Assur- ance Company, director Union Bank of Canada. Wilson. R. R.. wholesale merchant. Stockholders' Annual Meeting.— Second Tuesday in Feb- ruary-,
ger of both companies. The rate of dividend in 1918 was
10%. In 1919 it was 6 2/3%.	INCOME, 1919.
On December 31, 1919, the directors owned $231,300, par	Gross premiums written	$258, 565	05
value, of the capital stock. Affiliations.— Canadian Hail Underwriters Association.	Less reinsurance	34,561	77

Mainland Fire Underwriters Association of B. C.. Western	Total net premiums	$224,003	28
Canada Fire Underwriters Association.	Interest, etc	19,915	94
Classes of Business Written.— Fire and hail insurance and some fire reinsurance of the Canadian Fire Insurance	Other income	510	05

Co. Territory.— It is licensed and operates in the Provinces of Alberta, British Columbia, Manitoba and Saskatchewan	TOTAL INCOME DISBURSEMENTS, 1919.	$244,429	27
only.	Net losses paid	$92, 067	07
Officers.— President, John Galt; vice-president, R. T.	underwriting expenses	81,023	66
Riley; secretary, James A. Dowler. Directors.	Dividends to stockholders	20,000	00
Aikins, Sir Jas., director Canadian Fire Insurance Corn-	TOTAL DISBURSEMENTS	$193,090	73

CANTON INSURANCE OFFICE, LTD.,

Hong Kong, China.

GENERAL REVIEW. for the company at Hong Kong, and Messrs. Parrott & Co., History.— This company was established in 1836. It of San Francisco, have been the United States agents since

transacts a marine business on the Pacific coast, and at last 1882.

advices had deposited $200,000 of United States registered

bonds with the Insurance Department of the State of The company is conservatively managed and is in good Washington. Jardine, Matheson & Co. are general agents repute.