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

BEST'S INSURANCE REPORTS FIRE AND MARINE. 22

LONDON AND LANCASHIRE FIRE INSURANCE

			COMPANY, LTD. — Continued.
DISBURSEMENTS, U. S. BRANCH, 1919.			expenses incurred during 1919, $1.792,109.17; total, $3,-
Net losses paid:			250,474.09.
Fire and miscellaneous $1,086,763		60	Gain from underwriting during 1919, $379,992.74.
Marine and inland 281,314		09	Inrestuent Exhibit. 1919.—Interest, etc., earned during
•			1919, $2_55.204.50.
•			1919, $2_55.204.50.
TOTAL	$1,368,077	69	Los, on investments during 1919, $115,778.27; investment
Underwriting expenses'	1. 682, 259	17	expenses incurred during 1919, $30.435.15: total, $146,-
Remitted to Home Office	702,751	61	213.42.
Other disbursements	30,749	09	Gain from investments (luring 1919, $108,991.08. Gain and Loss Exhibit, 1919.—Gains: Underwriting,
TOTAl. DISBURSEMENTS	$3.783,837	56	$379,992.74: investments. $108.991.08: remitted from Home
			Ofliee, $138.806.16: total, $627,789.98.

Ratios to Premiums 11'ritten.—Losses paid, fire. etc.. 34.3%: marine, 40.3%; incurred, 37.7%; underwriting expenses. 43.5% : underwriting profit. 9.8%.

Ratios to Premiums Earned.—Losses incurred. 40.6%; expenses incurred. 49.9%; underwriting profit, 10.6%.

lliseellaneous, 1919—Net losses incurred, $1,458,364.92; net risks in force December 31. 1919. fire and miscellaneous. $673,794,331; marine and inland, $42,928,757: net premiums in force, fire and miscellaneous, $6,143,155.74: marine and inland, $610,738.73.

Underwriting Exhibit, 1919.—Premiums earned (luring 1919. $3,593,559.47; gain from underwriting profit and loss items, $36,907.36: total. $3,630,466.83.

Losses incurred during 1919, $1.458.364.92: underwriting

Loss from remittance to Home Office. $702,751.61.

Surplus, including deposit capital, U. S. Branch, Decem• oer 31, 1918. $2,823.403.33; decrease, $74.961.65; surplus, including deposit capital, U. S. Branch, December 31. 1919,

$2,748,441.90.
	Net Premiums		Net Losses
MISCELLANEOUS CLASSES:	Written.		Incurred.
Motor vehicles	$696.264	84	$295.549 00
Tourists' bagagge	1, 626	60	........
\Windstorm and tornado	61,261	58	15, 149 41
Hail	1	10	........
Sprinkler leakage	689	39	491 55
Explosion	2,345	47	752 20
Earthquake	1, 198	07

LONDON i, S('OTTISH ASSURAN('E CORPORATION, LIMITED,
London, England.

l-N1T'GD STATES BRANCH, 206 BROADWAY NEW YORK. N. Y.

ADMITTED ASSETS, L S. BRANCII. DECEMBER 31. 1919.'		LIABILITIES. U. S. BRANCH. DECEMBER 31, 1919.
Bonds and stocks owned (market value) $1.237.049 91)		LOSSES: Adjusted, not due, $5,934.05; in
Interest due and accrued thereon ('ash in banks and office Agents' balances not over three months due. Other admitted assets	18.460 9S 29,730 1.2 34. 167 56 76S 15	process of adjustment, $21,185.95; total, $27,120: reinsurance, $7.721.03: net Unearned premiums Interest due and accrued Salaries, rents. etc Estimated taxes hereafter payable I)ne for borrowed money	419,398 97 143,365 76 533 24 2, 196 42 10, 000 00 219, 821 35
		TOTAL LIABILITIES, except statutory capital deposit STATUTORY CAPITAL DEPOSIT. $400.000. NET SURPLUS. U. S. Braneh, including statutory capital deposit	$395,315 74 924, 860 97
TOTAL ADMITTED ASSETS $1.320,176 71		TOTAL $1.320(176 71
GENERAL REVIEW.		During 1911 the authorized capital was increased to
History.— This company was incorporated	August 4.	£350.000, On December 31, 1913, £333,825 of this was sub-

1862. and commenced business in that year. It has been operating in Canada since 1863. It was formerly known a the London and Lancashire Life Assurance Company and the London and Lancashire Life and General Assurance Association. Ltd., the present title having been adopted in 1919.

In May. 1911, this company absorbed the Welsh Insurance Corporation of Cardiff. Wales. a non-tariff concern which had a paid-up capital of £50,000. In 1912 it purchased control of the Scottish Metropolitan Assurance Company, Ltd., of Edinburgh.

Since December 31, 1897. this company has considered 90% of the profits from participating policies as belonging to participating policyholders, and 10% to stockholders.

scribed. and £66.765 paid up.

On September 11. 1914, the company was regularly admitted iu this country and was licensed to do business in the State of New York.

The authorized capital is $5.000.000, of which $3.000.000 has been subscribed and $600,000 paid in.

Home Office Resources.— All assets of the company (other than life insurance funds) are liable for the garment of losses incurred here. The Home Office balance sheet. which inc'udes all its assets and liabilities, showed the following as of December 31. 1918: Assets, $24,486.350: surplus. $664,477: capital paid up, $600,000.

Management and Reputation.—This company in 1919 decided to enlarge its operations in America and to establish