210   BEST'S INSURANCE REPORTS — FIRE AND MARINE.

JAKOR INSURANCE

Miscellaneous, 1919.— Net losses incurred, $1,425,143.67; net risks in force December 31, 1919, $405,339,7S1; net premiums in force, $3,S24,4S2.60.

Underwriting Exhibit, 1919.— Premiums earned during 1919, $2,895.992.12; loss from underwriting profit and loss items, $20,861.84; total, $2,575,130.28.

Losses incurred during 1919, $1,428,143.67; underwriting expenses incurred during 1919, $1.176,070.92; total, $2.-

COMPANY — Continued.

Gain and Loss Exhibit, 1919.— Gains: Underwriting, $270,915.69; investments, $137,552.79; total, $408,468.48.

Surplus, including deposit capital, U. S. Branch, December 31, 1918, $843,682.53; increase, $408,468.48; surplus, including deposit capital, U. S. Branch, December 31, 1919, $1,252,151.01.

Net Premiums   Net Losses MISCELLANEOUS CLASSES: Written. Incurred.

Gain from investments during 1919, $137,552.79.

JEFFERSON INSURANCE COMPANY,
Land Title Building, Philadelphia, Pa.

ADMITTED ASSETS, DECEMBER 31, 1919.

TOTAL ADMITTED ASSETS    $1.594,172 71

LIABILITIES, DECEMBER 31, 1919. Losses in process of adjustment, $587,779;

reinsurance, $5,478; net    $582, 301 00

Unearned premiums:   Inland navigation,

845,S84.01; marine, $385,570.79; total   431,454 SO

Estimated taxes hereafter payable    5,, 240 43

Funds held under reinsurance treaties   2, 354 19

TOTAL LIABILITIES, except capital. $1,073.350 42

CAPITAL PAID UP    400,000 00

NET SURPLUS    120, 822 29

TOTAL   $1.594. 172 71

GENERAL REVIEW.

h istory.— This company is a continuation of the Jefferson Fire Insurance Company, of Philadelphia, which was incorporated under the laws of Pennsylvania in April. and began business in August, 1855. In the latter part of 1912, the Jefferson Fire Insurance Company ceased writing business, and its outstanding liabilities were reinsured in the Fireman's Fund Insurance Company of San Francisco and the North River Insurance Company of New York. The perpetual business was assumed by the Pennsylvania Fire Insurance Company.

Early in 1917 the stock control of the company passed into new hands, and on April 3, 1917, the name was changed to the Jefferson Insurance Company. The paid-in capital was increased to $400,000, and the surplus paid in amounted to $100,000. During the latter part of 1917 $200,000 additional surplus was paid in. On April 26, 1917, it was licensed to write marine and inland insurance by the Pennsylvania Insurance Department, and on May 10, 1917, it was licensed by the New York Department.

It is under the same management as the Liberty Marine and North Atlantic insurance companies. of New York, and the United States Branch of the Norwegian Atlas Insurance Co., Ltd., of Christiania, Norway.

The par value of the stock is $50 a share.

Management and Reputation.— The company has reputable and substantial backing.

The underwriting is in charge of the Northern Under-writing Agency, Inc., 56 Beaver street, New York City, of which C. Steendal is president: John F. Murphy. vice-presi-

dent and secretary, and D. L. Webster, treasurer. Both Mr. Steendal and Mr. Murphy were formerly connected with Messrs. Willcox. Peck & Hughes, a prominent insurance firm of New York City, and Mr. Murphy, prior to going with that firm, was for several years with the Thames & Mersey Marine Insurance Company. The other officers have also for a number of years been identified with leading local marine insurance offices.

In 1919 it had a high loss ratio and lost $167,044.72 from underwriting.

One policy is issued in which each of the above mentioned companies participates, the policy indicating the proportion of the amount insured covered by each company. The liability undr these policies is several and not joint and each company is liable only for such proportion of any loss (Inc under the policy as the amount insured by each company bears to the total amount insured under the policy.

The assets included on December 31, 1919, $648,564.35 deposited with the'private banking house of Hannevig & Co., of New York City.

The securities owned consist chiefly of United States Liberty loan bonds.

Officers.— President, Christoffer Hannevig: vice-president and secretary, C. Steendal: treasurer, Ralph James M. Bullowa.

Directors.— Bullowa. Ralph James M.: Coulston, Mark-ley: Hannevig, Christoffer: Norbom, H. E.; Steendal. C.: Young, James H.; Zoll, Chas.

Territory.— Licensed in Ala., Ga., Ill., La.. Miss., N. Y., N. C., O. and S. C.