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BEST'S INSURANCE REPORTS—FIRE AND MARINE. 235
MARQUETTE NATIONAL FIRE INSURANCE COMPANY — Continued.
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Picard, Napoleon, Chicago, manager Insurance Exchange, Chicago, Ill. |
Ratios to Premiums Earned.— Losses incurred, 54.0%; | ||
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expenses incurred, 66.0%; underwriting loss, 9.3%. | |||
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Reis, Dr. Henry, member Board of Health in Belleville, |
Miscellaneous, 1919.— Net losses incurred, $344,615.77; | ||
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Ill.; Supreme Medical Director of the Catholic Knights of |
net risks in force December 31, 1919, $122,156,876: net pre- miums in force, $1,249,982.79. | ||
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Illinois. Stockholders' Annual Meeting.— February first. |
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Underwriting Exhibit, 1919.— Premiums earned during | |||
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INCOME, 1919. |
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1919, $637,789.35; gain from underwriting profit and loss items, $70,137.65; total, $707,927. |
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Gross premiums written |
$1.507.460 |
59 |
Losses incurred during 1919, $344,615.77; underwriting |
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Less reinsurance |
291,047 |
5.2 |
expenses incurred (luring 1919, $422,984.84; total, $767,- |
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Less return premiums |
311.304 |
18 |
600.61. Loss from underwriting during 1919, $59,673.61. |
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Total net premiums |
$905,108 |
89 |
Investment Exhibit, 1919.— Interest. etc., earned (luring |
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Interest, etc |
49. 184 |
31 |
1919, $51,773.46; profit on investments during 1919. $9,- |
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Other income |
9, 441 |
00 |
451: total, $61,224.46. |
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Loss on investments during 1919, $2,701.27; investment | |||
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TOTAL INCOME |
$963, 734 |
20 |
expenses incurred during 1919, $8,422.78; total, $11,124.05. |
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Gain from investments during 1919, $50,100.41. | |||
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LISBURSEMENTS, 1919. |
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Gain and Loss Exhibit. 1919.— Gain from invstments, |
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Net losses paid |
$328, 506 |
49 |
$50.100.41. |
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Underwriting expenses |
411. 484 |
84 |
Losses: Underwriting. $59,673.61: dividends, $30,000; |
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Dividends to stockholders |
30. 000 |
00 |
total, $89,673.61. |
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Other disbursements |
12,751 |
76 |
,Surplus, December 31, 1918, $341.017.94: decrease. $39,- |
-- — 573.20: surplus. December 31. 1919. $301,444.74.
TOTAL DISBURSEMENTS $782,743 09
Ratios to Premiums Written.— Losses paid, 36.3%: in- Net Premiums Net Losses
curred, 38.1% : underwriting expenses. 45.4%: underwriting MISCELLANEOUS CLASSES: Written. Incurred.
loss, 6.6%. Windstorm and tornado .... $612 50 $117 30
MARYLAND MOTOR CAR INSURANCE COMPANY OF DELAWARE,
Garrett Building, Baltimore, Md.
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ABM1'rTEB ASSETS, DECEMBER 31, 1919. |
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Loans on collateral security |
$115 |
38 |
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Bonds and stocks owned (market value) |
652. 598 |
00 |
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Interest due and accrued thereon |
7,479 |
78 |
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Cash in banks and office |
227.074 |
62 |
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Agents' balances not over three months due. |
118.316 |
83 |
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Reinsurance recoverable |
2,684 |
28 |
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TOTAL ADMITTED ASSETS $1, |
008.268 |
89 |
GENERAL REVIEW.
history—'Phis company was incorporated under the laws of Maryland and began business March 1, 1910, with an authorized capital of $100,000, 50% of which was paid in, with $12.500 surplus. Thu balance of the capital and $12,-500 surplus were paid in by May 1, 1910.
During 1912 its capital was increased from $100,000 to $300.000, and $50,000 additional surplus was paid in. The par value pf its stock is $100 per share. On December 19, 1912, it was reincorporated under the laws of Delaware.
In 1919 it increased the capital to $500,000 and added 850.000 to surplus.
Management and Reputation.—The company was organized and is managed by J. Purviance Bonsai, its president, who was connected with the United States Fidelity and Guaranty Company of Baltimore for six years, and who had previously been in the insurance agency and brokerage business in the city of Baltimore for some years.
It is backed by substantial interests and its directorate
LIABILITIES. DECEMBER 31, 1919. LOSSES: In process of adjustment, $42,-741.70: resisted. $286.50; total, $43,-
028.20; reinsurance. $1,365.50; net $41,662 70
Unearned premiums 343,888 46
Salaries, rents, etc 1.010 05
Estimated taxes hereafter payable 15,410 56
Contingent commissions. etc 6.395 15
TOTAL LIABILITIES. except capital $408,366 92
CAPITAL PAID UP 500,000 00
NET SURPLUS : 99,901 97
TOTAL $1, 008, 268 89
includes prominent bankers and business men of Baltimore. On December 31, 1919, the directors owned $124,900, par value, of its capital stock.
The company has made good progress. The loss ratio has been low, but its expenses of operation are high, due mainly to the character of its business.
A greatly increased business was written in 1919 so that it now writes a full volume. This increase necessitated larger reserves so that, in spite of the $50.000 contributed during the year, the surplus decreased $591.35.
Its loss paying reputation is excellent.
The securities owned are of good character. The security valuations are those fixed by the Convention of Insurance Commissioners.
The company writes motor car insurance only, and is a member of the National Automobile Underwriters Conference; also the New- England, Eastern, Southern, West-ern and Pacific Conferences.
Affiliations.— Eastern Automobile Underwriters Confer-
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