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BEST'S INSURANCE REPORTS — FIRE AND MARINE. 245
MERCHANTS' FIRE ASSURANCE CORPORATION— Continued.
Officers.—President, Edward L. Ballard; vice-president, Other disbursements 157.213 23
Alden C. Noble; secretaries, William B. Carter, Alfred A TOTAL DISBURSEMENTS
$1,901,318 42
Moser and Geo. L. McIntire; assistant secretary, Joseph L. Leffson.
Directors.
Ballard, Charles W., D. S. Walton & Co., New York. Ballard, Edward L., president.
Cutler, Bertram, 26 Broadway.
Hilton, Frederick M., Wm. A. White & Sons.
Luke, John G., president West Virginia Pulp and Paper Co.
Millett, Stephen C., 1'lillett, Roe & Hagen, bankers. Morgan, Samuel T., president Virginia-Carolina Chemical Co.
Noble, A. C., vice-president of company.
Rockefeller, John D., Jr., 26 Broadway.
Roe. Alexander V., Millett, Roe & Hagen, bankers. Rogers, Hubert E., Creevey & Rogers, attorneys. Shepard, Finley J., 165 Broadway.
Stockholders' Annual fleeting.--Fourth Monday in January.
INCOME, 1919. Marine
Fire, etc. and Inland.
Gross premiums written.. $2,639,320 76 $467, 706 54
Less reinsurance 561,259 45 65.488 46
Less return premiums.. 614, 463 61 54. 011 34
Total net premiums.. $1,463.597 70
Interest, etc
Borrowed money
Other income
TOTAL INCOME $2,031.955 31
DISBURSEMENTS, 1919. Net losses paid:
Fire and miscellaneous $709, 368 24
Marine and inland 229,135 07
TOTAL $938,503 31
Underwriting expenses 701.591 98
Dividends to stockholders 79,000 00
Borrowed money repaid with interest 25,009 90
Ratios to Premiums Written.— Losses paid, fire, etc., 48.5%; marine, 65.S%; incurred, 51.3%; underwriting expenses, 38.7%; underwriting profit, 4.9%.
Ratios to Premiums Earned.— Losses incurred, 51.1%; expenses incurred, 44.0%; underwriting profit, 49%.
Miscellaneous, 1919.— Net losses incurred, $930,219.31; net risks in force December 31. 1919, fire and miscellaneous, $183,434,479; marine and inland, $7,781,897; net premiums in force, fire and miscellaneous, $1,821,397.45; marine and inland, $215,384.57.
Underwriting Exhibit, 1919.— Premiums earned during 1919, $1,821.685.96; loss from underwriting profit and loss items. $107.71: total, $1.821.575.25.
Losses incurred during 1919, $930,219.31; underwriting expenses incurred during 1919. $801,591.98; total, $1,731,-811.29.
Gain from underwriting during 1919, $89,766 96. Investment Exhibit,.1919.—Interest, etc., earned during 1919, $149.501.89; profit on investments during 1919. $85.-861; total, $235,362.89.
Loss on investments during 1919, $154.035.89: investment expenses incurred during 1919, $3.177.34; total, $157.213.23. Gain from investments during 1919. $78,149.66.
Gann, and Loss Exhibit, 1919.— Gains: Underwriting, $89.766.96; investments. $78.149.66: other sources, $12.517; total. $180,433.62.
Losses: Other sources. $9.90; dividends, $79,000; total, $79,009.90.
Surplus, December 31. 1918, $976.487.12: increase, $101,-423.72; surplus. December 31. 1919, $1,077,910.84.
|
MISCELLANEOUS CLASSES': |
Net Premiums Written. |
Net Losses | |
|
Incurred. | |||
|
Motor vehicles |
$142.781 |
67 |
$83.493 33 |
|
Windstorm and tornado.... |
13,571 |
61 |
5,263 18 |
|
Hail |
159,592 |
81 |
80, 299 93 |
|
Sprinkler leakage |
10 |
30 |
-56 92 |
|
Explosion |
-4.945 |
99 |
-165 75 |
|
War risk (other than marine) |
-16.003 |
04 |
|
$348, 206 74 151.565 87
25, 000 00
43, 585 00
MERCHANTS' FIRE INSURANCE COMPANY,
Gas and Electric Building, Denver, Colo.
ADMITTED ASSETS, DECEMBER 31, 1919.
|
Real estate owned (market value) |
$14. 033 06 |
|
Mortgage loans on real estate |
245.243 31 |
|
Interest due and accrued thereon |
3,744 S2 |
|
Loans on collateral security |
10,600 00 |
|
Interest due and accrued thereon |
103 35 |
|
Bonds and stocks owned (market value) |
410. 136 94 |
|
Interest due and accrued thereon |
6.180 71 |
|
Cash in banks and office |
36, 256 76 |
|
Agents' balances not over three months due. |
70.636 98 |
|
Other admitted assets |
1.234 07 |
|
TOTAL ADMITTED ASSETS |
$798, 170 00 |
GENERAL REVIEW.
History.— This company was organized under the laws of Colorado in July, 1907, with $50,000 capital and $25.000 surplus. It succeeded the Merchants Mutual Fire Insurance Company.
In December, 1909, the Mercantile Fire Insurance Com-
LIABILITIES, DECEMBER 31. 1919. Losses in process of adjustment, $34,162.09;
reinsurance, $315.29: net $33,846 80
Unearned premiums 344.317 46
Salaries, rents, etc 205 25
Estimated taxes hereafter payable 17, 369 44
Other liabilities 661 21
TOTAL LIABILITIES, except capital $396,400 16
CAPITAL PAID UP ' 200, 000 00
NET SURPLUS 201,769 84
TOTAL $798,170 00
pally of Denver, which was under the same management, was merged with this company and its capital was increased to $200,000. The par value of the stock is $10 per share.
Policies issued under the title " Mercantile Fire Under-writers" are guaranteed by this company.
Management and Reputation.—The company is under
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