TOTAL ADMITTED ASSETS $7,974.869 SO
History.— This company was established in 1824. Its authorized capital is £6,000,000, of which £5,103,000 has been subscribed and £300,000 ($1,500,000) paid in.
Policies issued under the title " British Underwriters Agency " are issued by the United States Branch of this company.
The United States Branch of this company and that of the State Assurance Company, Limited, of Liverpool, England, are under the same management.
Home Office Resources.— All assets of the company (other than life insurance funds) are liable for the payment of losses incurred here. The Home Office balance sheet, which includes all its assets and liabilities, showed the following: Assets, December 31, 1918, $61.333,260: capital paid in, $1,500,000; surplus, $8,708,565.
Management and Reputation.— The company is in excel-lent repute and has built up a large and profitable business. The volume of business written in the United States is conservative and the underwriting operations ss a whole have shown a good profit in recent years.
The company's loss paying reputation is excellent under all conditions. The expense of management of the United States Branch has been moderate, and its average loss ratio normal. In 1918 and 1919 the loss ratio was low. Its surplus was decreased $720,154.27 in 1919. but it remitted to the Home Office $1.113,736.31 net during the year.
The largest item of real estate is an office building and land at 75 Elm street. Hartford. carried at $193,842.05. The other items are frame dwellings in Minnesota, carried at cost.
The mortgages are mostly small loans upon improved property in Hartford.
The securities owned are of excellent character. The security valuations in this statement are those fixed by the Convention of Insurance Commissioners
Affiliations.—Eastern Union. Western Union, Southeast-ern Underwriters Association, Board of Fire Underwriters of the Pacific. Rocky Mountain Underwriters Assoeiation.