xiv   DEPARTMENT OF FINANCE—INSURANCE BRANCH.

The assets of the five Canadian companies doing fire business amounted, at the end of the year, to 34,577,065, covering a total amount of insurance of all kinds of 3381,467,010, being at the rate of $12.00 for every $1,000 of insurance in force; they have also a reserve of subscribed capital not called up, amounting to 81,285,080, making a total security of 515.37 for every 41,000 insured. The liabilities of the same companies amounted to 32,942,143, made up as follows :

The unearned premiums are here taken to be the pro rata proportions of the gross premiums for the time unexpired in the cases of Fire and Inland Marine insurance, and the whole premium in the case of a current Ocean risk. The surplus of assets over liabilities available for the protection of policy-holders, independent of the reserve of subscribed capital not called up, amounts to 31,634,922.

The capital stock of these companies paid up or in course of payment, amounts to 81,889,9220, and the result shows an excess of liabilities, including the capital, over assets to the amount of $254,998. At the end of 1894 there was an impairment of 5179,985.

The following table gives the condition at the end of 1895 of all the Canadian stock companies in reference to their surplus or impairment of paid-up capital.

Finn and Marine Insurance Companies, 31st December, 1895.

Surplus over Impairment Capital paid all Liabilities

Subscribed   up or m   of

Capital.   Course   including   Called-up

of Collection.   CCalleapital d-up   Capital.

Reserve
of Subscribed
Capital
not
Called-up.

8 cts.,   8   cts.   8 cts.   8 ets.l   8 cts.

British America   750,000 00   750,000 00    245,233 09   None.

Mercantile Fire    200,000 110 i   40,000 00   ..   1,886 22   160,000 00

Quebec    

..   ..   225,0011 00   } 99,920 00   70,557 19

   125,080 00

Western   2,000,000 00 1,000,000 00    86,766 63 1,000,000 00

------- --

Totals   3,175,000 00   1,889,920 00   70,557 19   333,885 94   1,285,080 00

t As reduced by Act of Parliament.

A comparison of this with the corresponding table for the previous year shows the following results :

Gain or improvement during 1895 :

Quebec, 331,414.49.

Loss or deterioration during 1895 :

London Mutual, S17,001.45 ; Mercantile, 39,064.07 ; Western, $105,655.24 British America, 857,570,57.