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

BEST'S INSURANCE REPORTS—FIRE AND MARINE. 225

LONDON ASSURANCE CORPORATION.
London, England.

UNITED STATES FIRE BRANCH, 84 \WILLIAM STREET, NEW YORK.
UNITED STATES MARINE BRANCH, 5 SOUTH \V"ILLIASI STREET, NEW YORK.

ADMITTED ASSETS, U. S. BRANCH, DECEMBER 31, 1919.

Bonds and stocks owned (market value) . . . . $5.	218. 352 00
Interest due and accrued thereon	62, 504 89
Cash in banks and office	457,950 26
Agents' balances not over three months due.	868, 662 3.2
Due for reinsurance on losses paid	94, 742 33

TOTAL ADMITTED ASSETS $6,702,211 80

GENERAL REVIEW.

History.— This company was established in 1720 and is one of the oldest companies in existence. Its authorized capital is £2,000,000, of which £1,246.550 has been sub-scribed and £748,275 ($3,741,375) paid in.

It entered the United States in 1872 and maintains two distinct branches, one writing fire and allied lines and the other marine insurance. In this report, the figures filed by the two branches are merged.

Policies issued under the title " London Undery riters Agency " are issued by this company through its agents.

Home Office Resources.—All assets of the company (other than life insurance funds) are liable for the payment of losses incurred here. We therefore present the following information from the Home Office balance sheet, the latest available, which includes all its assets and liabilities : Assets December 31, 1918, $42,632.297; capital paid in, $3,741,375; surplus funds, $7,410,517.

Management and Reputation.—The company is in excel-lent repute at its home and abroad, and its operations in tile United States have, on the whole, been very profitable. Its average expense and loss ratios are low.

Its loss paying record is excellent under all conditions.

Its investments are of excellent character. The security valuations in this statement are those fixed by the Convention of Insurance Commissioners.

Affiliations.— Western Union, Southeastern Underwriters Association, Eastern Automobile Underwriters Conference, National Automobile Underwriters Conference, New England Automobile Underwriters Conference. Southern Automobile Underwriters Conference, Western Automobile Underwriters Conference.

United States Manager.— Chas. L. Case; agents, marine branch, Chubb & Son.

United States Trustees.—James N. Jarvie, 66 Broadway, New York City: James H. Post, 129 Front Street. New York City; Justus Ruperti, 90 Wall Street, New York City; Moreau Delano, 59 Wall Street, New York City.

Classes of Business Written.— Fire, marine, life, accident, burglary and plate glass insurance.

In the United States it transacts fire, marine, explosion,

LIABILITIES, I,. S. BRANCH, DECEMBER 31, 1919.

LOSSES: Adjusted, due, $154.49; not due,
$2,549; in process of adjustment, $1,514,-
955; resisted, $43,623; total, $1,561,-
281.49; reinsurance, $532,791; net $1, 028, 490 49
Unearned premiums: Fire and miscellane-
ous, $2,683,685; inland navigation, $107,-
544.18; marine, $243,352.10; total 3,034,581 28
Salaries, rents, etc 22, 408 65
Estimated taxes hereafter payable 194. 151 45
Contingent commissions, etc 49, 710 32
Other liabilities 26 68
TOTAL LIABILITIES, except statutory
capital deposit $4,329.368 87
STATUTORY CAPITAL DEPOSIT, $400,000.
NET SURPLUS, U. S. Branch, including
statutory capital deposit 2, 372, S42 93
TOTAL $6,702,211 80

sprinkler leakage. automobile, tourists' baggage, registered mail, war risk and tornado insurance.

Territory.— In the United States it was, at last advices, licensed in all the States and Territories except Ark, and Guam. It also operates in Canada.

Fire Branch.— Pacific Coast, A. AV. Thornton, manager, San Francisco, Cal.

INCOME, U. S. BRANCH, 1919. Marine Fire, etc. and Inland.
Gross premiums written... $5, 613,341		80	$3, 389.638	26
Less reinsurance	1,665,876	1S	1,600, 433	81
Less return premiums..	1,072.785	69	228.176	05
Total net premiums.. $2,874.679		93	$1,561.02S	40
Interest, etc			240,807	59
ueeeived from Home Office			149,272	75
Other income			2,288	60
TOTAL INCOME			$4,828.077	27
DISBURSEMENTS, U. S. BRANCH,			1919.
Net losses paid: Fire and miscellaneous			$1,060,7i7	54
Marine and inland			803,266	7S
TOTAL			A, 864, 044	32
Underwriting expenses			1,677,694	50
Remitted to Home Office			574.951	S6
Other disbursements			14, 454	50
TOTAL DISBURSEMENTS			$4.131.145	18

Ratios to Premiums Written..—Losses paid, fire, etc., 36.9% : marine, 51.4%; incurred, fire, etc., 37.5%; marine, 52.2%; underwriting expenses, 37.8%; underwriting profit, 13.0%.

Ratios to Premiums Earned.—Losses incurred_ 45.1%; expenses incurred, 41.6%; underwriting profit, 13.8%. Miscellaneous, 1919.— Net losses incurred, fire and miscellaneous, $1,078,129.54; marine and inland, $815,572.83: net risks in force December 31. 1919, fire and miscellaneous, $474.877.687: marine and inland. $67,563.578: net premiums