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610 BEST'S INSURANCE REPORTS FIRE AND MARINE.
QUI \ CY MUTUAL LIFE
GENERAL REVIEW.
This company began business in 1851 and bears an ex
cellent reputation. It has accumulated a large surplus
besides paying good dividends to members.
The assessment liability is one additional premium. No
assessments have ever been made.
It is licensed in all of the New England States.
Since organization the average rate of dividend paid
policyholders has been about 36%.
The mortgage loans are upon property valued at nearly,
three times the amount loaned. The stocks and bonds
owned are of good character. The security valuations in
this statement are those fixed by the Convention of Insur
ance Commissioners.
Officers.— President. Charles A. Howland: secretary,
James F. Young.
Income, 1919.— Gross premiums written, $242.747.10:
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items, $,96.87; total, $215.292.21. |
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Losses incurred during 1919, |
$58,982.88; underwriting |
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expenses incurred during 1919, |
$77,827.34: total, $136,- |
S10.22.
Gain from underwriting during 1919, $78,481.99.
Investment Exhibit, 1919.- Interest, etc., earned during
1919, $49,461.53; profit on investments during 1919, $8,-
858.02: total, $58,319.55.
Loss on investments during 1919, $13,969.76; investment
expenses incurred during 1919, $8,879.86; total, $22,849.62. Gain from investments during 1919, $35,469.93.
Gain and Loss Exhibit, 1919.—Gains: Underwriting,
$78,481.99; investments, $35,469.93; total, $113,951.92.
INSURANCE COMPANY — Continued.
Ratios to Premiums Earned.— Losses incurred, 27.4%;
expenses incurred, 36 2% ; underwriting profit, 36 5%.
Underwriting Exhibit, 1919.— Premiums earned during
1919. $215,195 34; gain from underwriting profit and loss
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less return premiums. $17,050.57: total net premiums writ- ten, $225,696.62; interest, etc., $49,045 31; other income, $8,858.02; total income. $283.599 95. |
Loss from dividends, $78,482.89. Surplus. December 31, 1918, $670,936.32; increase, $35,- | ||
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469.03; surplus, December 31, 1919, $706,405.35. | |||
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Disbursements, 1019.—Net losses paid, $55.257.04: un- |
Business from Organization..—Net premiums and assess- | ||
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derwriting expenses, $76.182.57: dividends to policyholders, |
ments, $8,528,402.95; net |
losses paid, |
$3,403,765.89; divi- |
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$78,482.89; other disbursements, $11,252.09: total disburse- |
dends to policyholders, |
$3,047,109.67; |
average dividend, |
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ments, $221,174.59. |
35.7%. | ||
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Ratios to Premiums Written — Losses paid, 24.5%; in- |
Percentage of cash premiums returned during the year | ||
curred, 26.1%; underwriting expenses, 33.7%; underwriting
profit, 34.8%.
on expiring policies as dividends or profits. viz.: One year,
20~/c; two years, 30%; three years, 40%: four years, 50%;
five years, 60%.
RETAIL DRUGGISTS' -MUTL AL FIRE INSURANCE COMPANY,
518 Walnut Street, Cincinnati, Ohio.
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ADMITTED ASSETS, DECEMBER 31. 1919. |
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LIABILITIES, DECEMBER 31, 1919. |
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Bonds and stocks owned (market value)... |
$117.431 |
15 |
Unearned premiums |
$33,792 |
14 | |
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Interest due and accrued thereon |
1,102 |
50 |
Estimated taxes hereafter payable |
721 |
42 | |
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Cash in banks and office |
2,759 |
66 |
Premiums paid in advance—paid for 1920. |
207 |
36 | |
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Agents' balances not over three months due. |
2.542 |
34 |
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$34. |
720 | |||||
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TOTAL LIABILITIES |
92 | ||
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NET CASH SURPLUS |
89, |
114 |
73 |
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TOTAL ADMITTED ASSETS |
$123, 835 |
65 |
TOTAL |
$123. |
835 |
65 |
GENERAL REVIEW.
This company began business in 1890, and is licensed
in Ohio, Indiana and Kentucky.
The assessment liability of members is three times the
cash premium. No assessments have ever been levied.
The contingent resources on December 31, 1919, were $202,-
752.84.
The company collects full cash premiums and pays divi
dends in cash from the profits. It writes at regular stock
rates.
The average rate of dividend since organization is 40%:
the rate in 1919 was 45%. The company is well managed
and its operations have been very profitable.
The bonds owned are of good character.
Officers.—President, Philip Lehr; vice-president, John C.
Firmin; treasurer. Robt. Groenland; secretary, C, L. Mc-
Intire.
Directors.— P. J. Ackerman. Columbus. Ohio: ACni. S.
Bannister, Toledo, Ohio; 'J. W. Dysle. Marietta, Ohio: John
C. Firmin, Findlay. Ohio: Robt. Groenland, Cincinnati,
Ohio; Philip Lehr. Cleveland. Ohio: C. L. McIntire, Cin-
cinnati, Ohio: T. \V. Hogan, Lafayette, Ind.: Chas. A.
_Niebergall, Ft. Wayne, Ind., all druggists.
Income, 1919.— Gross premiums written, $70,946 68; less
return premiums, $3,072.25: total net premiums written,
$67,874.43; interest, etc.. $4,549 36; other income. $1.329;
total income. $73,752.79.
Disbursements, 1919.—Net losses paid, $13.109.58; un
derwriting expenses, $19,804.60; dividends to policyholders,
$25,675.83: other disbursements. $417.27; total disburse
ments, $59.007.28.
Ratios to Premiums Written.— Losses paid, 193%; in
curred, 15.5%; underwriting expanses, 29.2%; underwriting
profit, 49.7%.
Ratios to Premiums Earned.—Losses incurred. 16.8%;
expenses incurred. 30.6%; underwriting profit, 53 5%.
Underwriting Exhibit, 1919.—Premiums earned during
1919, $62.088.6.6; gain from underwriting profit and loss
items, $571.26; total. $63,559.92.
Losses incurred during 1919, $10,559.09; underwriting
expenses incurred during 1919. $19,283.17; total, $29,842.26.
Gain from underwriting during 1919, $33,717.66.
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