416   BEST'S INSURANCE REPORTS—FIRE AND MARINE.

STANDARD MARINE INSURANCE COMPANY, LIMITED—Continued.

GENERAL REVIEW.   Interest, etc   

History.—This company was established in 1871. Its Received from Home Office    

   subscribed capital is £500,000, £400,000 of which is at call   Ot,.er income    

of the directors and £100,000 paid in. The company is owned by the London and Lancashire Fire Insurance Company, Ltd., of Liverpool, England, which company directs its operations and guarantees its policies. It entered the United States in 1888.

Howe Office Resources.— All assets of the company are liable for the payment of losses incurred here. TL Home Office balance sheet, which includes all its assets and liabilities, showed the following as of December 31. 1918: Total admitted assets, $5,849,453; capital paid in, $470,000; reserve fund. $2;350,000; reserve for unexpired risks, $594,-917: balance, profit and loss account, $276,052; dividend for the year 1918, $164,500: claims outstanding. $720,928.

Management and Reputation.—The company is in excel-lent repute and is well and conservatively managed. Tue underwriting operations of the United States Branch have been very profitable.

The expenses are exceedingly low. The loss ratio in 1919 was very low and it made the large gain from under-writing of $829.391.24, the decrease in surplus arising because of large remittances to the home office.

Its loss paying reputation is excellent.

The security valuations in this statement are those fixed by the Convention or Insurance Commissioners.

United States Manager.—W. J. Roberts, 63-65 Beaver street, New York.

United States Trustees.— J. E. Gardin, Daniel Sehnakenberg, New York. and A. G. Mellwaine, Jr., Hartford, Conn.

Classes of Business Written.—All classes of marine and transportation insurance.

Territory.— The company operates practically all over the world. In the United States it is licensed in Ark., Cal., Conn., Ga, Ill.. La., Mass., Minn.. Miss., Mo., N. J., N. Y.. Pa.. R. I., S. C., Tenn.. Tex., Wash. and Wis.

INCOME. U. S. BRANCH, 1919.

Gross premiums written    $8.19.2.076 05

Less reinsurance    4.423.535 99

Less return premiums    690.882 69

STAR INSURANCE COIIPAN OF AMERICA,
80 William Street, New York, N. Y.

114,990 10 1. 380, 527 28 197 -

TOTAL INCOME    $4,573,372 62

DISBURSEMENTS, U. S. BRANCH, 1919.

Net losses paid    $871,795 46

Underwriting expenses    427, 448 85

Remitted to Home Office    2,626,386 89

Other disbursements    2,676 09

TOTAL DISBURSEMENTS    $3,928,307 29

Ratios to Premiums Written.—Losses paid, 28.3%; incurred, 42.0%; underwriting expenses, 13.9%; under vritin profit, 269%.

Ratios to Premiums Earned.—Losses incurred, 47.2%: expenses incurred, 22.1%; underwriting profit, 30.3%.

Underwriting Exhibit, 1919.- Premiums earned during 1919, $2,738,605.27; loss from underwriting profit and loss items, $13,141.66; total, $2,725,463.61.

Losses incurred during 1919, $1,291,623.52; underwriting expenses incurred during 1919, $604,448.85: total, $1,-896.072.37.

Gain from underwriting during 1919, $829,391.24.

Investment Exhibit, 1919.— Interest, etc., earned during 1919, $120.737.47; profit on investments during 1919, $197; total, $120,934.47.

Loss on investments during 1919, $26,057; investment expenses incurred during 1919, $2,676.09; total, $28,733.09.

Gain from investments during 1919, $92,201.38.

Gain and Loss Exhibit, 1919.—Gains: Underwriting. $829,391.24: investments, $92.201.38; remitted from Home Office. $1,380,527.28; total, $2.302,119.90.

Loss from remittance to Home Office, $2,626,386.89.

Surplus, including deposit capital, U. S. Branch, December 31, 1918. $1,924,142.27; decrease, $324,266.99: surplus. including deposit capital, U. S. Branch, December 31, 1919, $1.599,875.28.

Net Premiums   Net Losses

MISCELLANEOUS CLASSES:   Written.   Incurred.

Tourists baggage    $122 50    

Total net premiums    $3.077.657 97   Registered mail    12,299 78

ADMITTED ASSETS. DECEMBER 31, 1919.

TOT-1L ADMITTED ASSETS   $1.907,431 24

LIABILITIES, DECEMBER 31, 1919.

LOSSES: Adjusted, not due. $6,790.65; in process of adjustment, $243.836.35; resisted. $5.700: total, $256,327: reinsur-

ance, $140,306; net    $116.021 00

Unearned premiums: Fire and miscellaneous, $852,942.22; inland navigation. $68,-

055.75: total    920.997 97

Salaries, rents, etc   6.970 6S

Estimated taxes hereafter payable    46,148 52

Contingent commissions, etc    19.202 28

TOTAL LIABILITIES, except capital   $1,109,340 45

CAPITAL PAID UP    400, 000 00

NET SURPLUS    398, 090 79

TOTAL   $1 907. 431 24