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BEST'S INSURANCE REPORTS—FIRE AND MARINE. 87
COLUMBIA INSURANCE
ment has been to strengthen the surplus instead of to pay out its earnings in dividends.
Officers.— President, George F. Crane; vice-president and treasurer, Frank Ir. Cauty; secretary, H. W. Spicer.
Directors.— Beresford, P.; Busk. Frederick T.; Cauty, Frank H.; Crane, George F.; Fowler, H. K.; Hallock, George D.; Thatcher, Archibald G.
Stockholders' Annual Meeting.— First Tuesday in March.
INCOME, 1919.
|
Gross premiums written $1,535,513 80 | ||
|
Less reinsurance 358.396 94 | ||
|
Less |
return premiums |
216, 831 83 |
|
Total net premiums |
$960,285 03 | |
|
Interest, etc |
63, 646 02 | |
|
Other income |
830 07 | |
|
TOTAL INCOME |
$1,024.761 12 | |
|
DISBURSEMENTS, 1919. Net losses paid: |
$1, 226 32 | |
|
Fire and miscellaneous | ||
|
Marine and inland |
330,444 78 | |
|
TOTAL. . . |
$331, 671 10 | |
|
Underwriting expenses |
369,955 84 | |
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TOTAL DISBURSEMENTS |
$701,626 94 | |
Ratios* to Premiums Written.— Losses paid, 34.5%; incurred, 42.1%; underwriting expenses, 38.5%; underwriting loss, 5.4%.
COMPANY — Continued.
Ratios to Premiums Earned.— Losses incurred, 49.6%; expenses incurred, 54.4%; underwriting loss, 6.4%.
Underwriting Exhibit, 1919.— Premiums earned during 1919, $815,311.59; loss from underwriting profit and loss items, $19,887.81; total, $795,423.78.
Losses incurred during 1919, $404.160.95; underwriting expenses incurred during 1919, $443,857.10; total, $848,-018.05.
Loss from underwriting during 1919, $52,594.27. Investment Exhibit, 1919.— Interest, etc., earned during 1919, $62,533.70.
Loss on investments during 1919, $41,481.39; investment expenses incurred during 1919, $1,790.79; total, $43,272.18. Gain from investments during 1919, $19,261.52.
Gain and Loss Exhibit, 1919.—Gains: Investments, $19,-261.52; increase account of special deposit, $79,025.25; total, $98,286.77.
Losses from underwriting, $52,594.27.
Surplus, December 31, .918, $767,701.38; increase, $45,-692.50: surplus, December 31, 1919, $813,393.88.
Net Premiums Net Losses
MISCELLANEOUS CLASSES: Written. Incurred.
Motor vehicles $560, 415 65 $236. 233 44
Tourists' baggage 1,667 18 210 00
Registered mail 5, 361 76` 1,860 48
Windstorm and tornado 363 44 8 43
Sprinkler leakage 101 14 1 00
Explosion 572 95
War risk (other than marine) 3,801 91 14 02
C'OLUMBIAN INSURANCE COMPANY OF INDIANA,
430 N. Pennsylvania Street, Indianapolis, Ind.
ADMI'rrED ASSETS, DECEMBER 31, 1919.
$60, 627 262. 625 5,446 138. 610
924 63,776 67.861
Real estate owned (market value)
Mortgage loans on real estate
Interest due and accrued thereon
Bonds and stocks owned (market value)
Interest due and accrued thereon
Cash in banks and office Agents' balances not over three months due.
TOTAL ADMITTED ASSETS $599, 871 -I3
LIABILITIES, DECEMBER 31, 1919. LOSSES: Adjusted, not due, $9,271.83; in process of adjustment, $47,246.57; re-
sisted, $300; total, $56,818.40; reinsur-
ance, $17.809.20; net $39.009 20
Unearned premiums 247, 717 79
Salaries, rents, etc 300 00
Estimated taxes hereafter payable 7,000 00
TOTAL LIABILITIES, except capital. $294,026 99
CAPITAL PAID UP 232, 500 00
NET SURPLUS 73, 344 44
TOTAL $599, 871 43
50 00 34 73 54 30 02
GENERAL REVIEW.
History.— This company was incorporated under the laws of Indiana in July, 1911, with $50,000 authorized capital in shares of $10, par value. Later in the same year the authorized capital was increased to $100,000.
It took over a concern previously organized under the title Inter-State Securities Corporation, issuing for that purpose 5.900 shares of Columbian Insurance Company stock at par. Later 16,100 shares were sold at $20 per share and 8,000 shares at $30 per share.
The company began business in March, 1912, with $60,-819.50 paid-in capital and $5,976 net surplus. In 1912, the company again increased its authorized capital to $150,000, and in 1913 to $250,000.
The collections on account of capital and surplus have been as follows:
Year Capital Surplus
1912 $107,010 13 $48,919 4S
1913 65,399 17 66,436 03
1914 77,590 70 40.170 69
1915 6,708 64 7,132 15
1916 37,896 36 26,523 64
1917 12,675 00 8,183 00
1918 1.022 00
1919 ....: 16,382 00 21,163 55
$324,684 00 $218.525 54
-92, 184 00 +92. 184 00
$232,500 00 $310.712 54
In 1917 the capital was reduced $92,184, transferring that amount to surplus, and the par value of the stock was changed from $10 to $7 per share.
Management and Reputation.—The underwriting management is in the hands of Charles Boicourt who has been in the insurance business for a number of years. He acted formerly as State agent for the German Fire Insurance Co., of Indianapolis, now out of business, and later as agency
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