2.O   BEST'S INSURANCE REPORTS.   FIRE ANi) 1\IAR NE.

METROPOLITAN-HIBERNIA FIRE INSURANCE COMPANY—Continued.

had, as of December 31, 191S, total admitted assets of $203,702.67; capital paid in, $100,000; net surplus, $33,-561.36. The combined resources of the two companies as of December 31, 191S, were total admitted assets. $426,278.23; capital, $200,000; net surplus, $56,696.97.

We have been advised by the management that the capital has been increased $50,000 and the surplus a like amount and it is expected that theses funds will be fully paid in by March 15, 1920.

Management and Reputation.—John Naghten & Co., who are in good repute, act as general agent under a con-tract which is fair to both. The company is under experienced management and has responsible backing. As of December 31, 1919, the directors owned at par value, $36,250 of the capital stock.

The Hibernia Fire Insurance Company had never made an underwriting profit and the Metropolitan Fire Insurance Company for the ten year period prior to the merger had shown an underwriting loss. Both companies had a moderate expense ratio.

In 1919 the company under merged conditions had a normal loss ratio and an expense ratio which was moderate. so that an underwriting profit of $10,500.24 was made. The company is licensed in Illinois only and is writing a moderate volume of business.

The company is in excellent repute in the matter of loss settlements.

Its investments, listed at the prices fixed by the Convention of Lisurance Commissioners are of good character, consisting of U. S. Government, industrial. railway and public service corporation securities. Its mortgage loans are high grade and valued at over twice the amount loaned.

Classes of Business Written.— Fire insurance

Territory.— It is licensed in Illinois.

Dividends.—\With the exception of 1918, when it paid 4%, the Hibernia Fire Insurance Company never paid a dividend; the Metropolitan Fire Insurance Company, prior to the merger, paid 10% annually to the stockholders; in 1919 it paid a dividend of $15,984.80.

Officers.—President, Thomas F. Keeley; first vice-president, James I. Naghten; second vice-president, Richard W. Wolfe; secretary, George Essig; assistant secretary and treasurer. Robert G. Devlin.

Directors.

George E. Brennan, manager U. S. Fidelity & Guaranty Co., Chicago, Ill.

Squire S. Burke, insurance, Squire S. Burke & Co., Chicago, Ill.

Edward Cluff, insurance, New York City.

George Essig, secretary Met.-Hib. Fire Ins. Co., Chicago, I11.

John C. Gorman, president John C. Gorman Co., Chicago, Ill.

P. J. Hennessey, president Chicago Distilling Co., Chicago, Ill.

Louis Jourdan, manager Jourdan Packing Co., Chicago, [11.

Eugene M. Keeley, secretary Keeley Brewing Co., Chicago, Ill.

Thomas F. Keeley, president Keeley Brewing Co., Chicago, Ill.

Charles C. Kerwin, investments, Halsey-Stuart & Co., Chicago. Ill.

Ed. Landsburg, president United Breweries, Chicago, Ill. Philip J. Maguire, lawyer, Chicago, Ill.

Frank A. Naghten. insurance, John Naghten & Co., Chicago, Ill.

James I. Naghten, insurance. John Naghten & Co.. Chicago, Ill.

N. L. Piotrowski, president Great Lakes lns. Co., Chicago, Il:.

Richard W. Wolfe, real estate, R. W. Wolfe & Co.. Chicago, Ill.

D. J. Young, president D. J. Young & Co., Chicago, Ill.

INCOME, 1919.

TO'LtL DISBURSEMENTS    $188, 187 34

Ratios to Premiums Written.— Losses paid, 55.9%; incurred, 57.0%; underwriting expenses, 40.6%; underwriting profit. 62%.

Ratios to Premiums Earned.— Losses incurred, 54.9%; expense incurred, 34.1%; underwriting profit, 5.90'.

iliscellaneous. 1919.—Net losses incurred, $99,692.99: net risks in force December 31, 1919, $20,903,938; net premiums in force. $286,426.24.

Z;nderu-riting Exhibit, 1919.—Premiums earned during 1919, $181.566.92.

Losses incurred (luring 1919. $99,692.99; underwriting expenses incurred during 1919, $71,073.69: total, $170.-766 68.

Gain from underwriting during 1019, $10,800.24

Investment Exhibit, 1919.— Interest, etc., earned during 1919, $19.220.8S: profit on investments during 1919, $176.25; total, $19,397.13.

Joss on investments during 1919, $13,546.65.

Gain from investments during 1919, $5,850.48.

Gain and Loss Exhibit, 1919.—Gains: Underwriting, $10,800.24; investments, $5,850.48: other sources, $60,000: total, $17.250.72.

Loss from dividends, $16,000.

Surplus, December 31, 1918. $56,696.97; increase, $1,-250,72; surplus. December 31, 1919, $57.947.69.