BEST'S INSURANCE REPORTS — FIRE AND MARINE.   221

LIVERPOOL AND LONDON AND GLOBE DISBURSEMENTS, U. S. BRANCH, 1919. Net losses paid:

Fire and miscellaneous    $4.407,145 10

Perpetual   9.347 62

Marine and inland    745,355 45

TOTAL   $5,162.348 17

Underwriting expenses    4, 776, 681 81

Remitted to Home Office    1,431,483 75

Deposit premiums i.eturncd    9, 41S 51

Other disbursements    212,060 97

TOTAL DISBURSEMENTS    $11,591,993 21

Ratios to Premiums Written.—Loses paid, fire, etc. 38.0%; marine, 58.3%; incurred, fire, etc., 37.S%; marine, 42.9%; underwriting expenses, 37.1%; underwriting profit, 16.8%,

Ratios to Premiums Earned.— Losses incurred, 41.0%; expenses incurred, 41.1%; underwriting profit, 17.9%.

Miscellaneous, 1919 — Net losses incurred, fire and miscellaneous, $4,383,861.63; perpetual, $9,347.62; marine and inland, $548,192.59; net risks in force December 31. 1919, fire and miscellaneous, $1,870,747,771; marine and inland, $48,910,801; net premiums in force, fire and miscellaneous, $19,115.671.85; marine and inland, $1,077,378.61; perpetual risks in force, not included in above. $6,683,139; perpetual deposits held, $178.833.82.

Underwriting Exhibit, 1919.— Premiums earned during 1919, $12.038,252.33: gain from underwriting profit and loss items. $9.318.83; total, $12,047.571.16.

INSURANCE COMPANY, LTD. — Continued.

Losses incurred during 1919, $4,941,401.84; underwriting expenses incurred during 1919, $4,948,616.30; total, $9,-890,018.14.

Gain from underwriting during 1919, $2,157,553.02.

Investment Exhibit, 1919.— Interest, etc., earned during 1919, $640.247.21; profit on investments during 1919, $52,-449; total, $692,696.21.

Loss on investments during 1919, $540,202.06; investment expenses incurred during 1919, $65,051.74; total, $605,-253.80.

Gain from investments during 1919, $87,442.41.

Gain and Loss Exhibit, 1919.— Gains: Underwriting, $2,157,553.02: investments, $87,442.41: other sources, $63.66; remitted from Home Office, $56,234.78; total, $2,-301,293.87.

Losses: Other sources, $3.18; remitted to Honie Office, 51.431,483.75; total, $1,431,486.93.

Surplus, including deposit capital, U. S. Branch, December 31, 1918, $4,880,795.09; increase, $869,806.94; surplus, including deposit capital, U. S. Branch, December 31, 1919,

LIVERPOOL-MANITOBA ASSURANCE COMPANY,
Montreal, Canada.

GENERAL REVIEW.

History.— This company began business on October 1, 1912, when it took over all the business, assets and liabilities of the Manitoba Assurance Company, which was incorporated in 1886 and which had been in business since 1590.

The authorized capital of this company is $1,000,000, $500,000 of which has been subscribed and $175,000 paid in.

Management and Reputation.—The company is controlled by the Liverpool and London and Globe Insurance Company, Ltd., a large and reputable institution, and is managed by the officials of that company in Canada, with headquarters at Montreal.

Mr. J. Gardner Thompson, manager of the Liverpool and London and Globe Insurance Company, Ltd.. is president and managing director. All of the company's policies are guaranteed by the Liverpool and London and Globe Insurance Company, Ltd.

This company did not respond to our several requests for a copy of its financial statement as of December 31, 1919.

Affiliations.— Canadian Fire Underwriters Association, Western Canada Fire Underwriters Association, Vancouver Island Fire Underwriters Association, Mainland Board of Fire Underwriters, New Brunswick Board of Fire Under-writers, Nova Scotia Board of Fire Underwriters.

Class of Business Written.— Fire insuranec.

Territory.— It is licensed and operates in the Dominion of Canada.

Officers.— President and managing director, J. Gardner Thompson; vice-president and secretary, Lewis Laing; assistant secretary, T. D. Simpson.

Directors.

Carruthers, James, Montreal.

Chevalier, M., Montreal.

Dent, A. G., Liverpool, England.

Emo, John, Montreal.

Lacoste, Sir Alex., Montreal.

Laing, Lewis, Montreal.

Macpherson, W. M., Montreal.

Rimmer, J. C., Liverpool, England.

Thompson, J. Gardner, Montreal.

Williams-Taylor. Sir Frederica, Montreal.