III. Ledger assets of life insurance companies doing business in this State..

xviii

VII. Dates of admission, names of officers, etc., of life insurance companies doing business

in this State.......

xxvi

TWENTY-FIFTH ANNUAL REPORT

OF THE

COMMISSIONER OF INSURANCE.

PART II.-LIFE, CASUALTY AND FRATERNAL INSURANCE.

HON. JOHN T. RICH, Governor:

STATE OF MICHIGAN,
INSURANCE Bureau,
Lansing, May 29, 1895.

SIR-Part II. of the twenty-fifth annual report of this department containing an exhibit of the business of life, fidelity, casualty and fraternal insurance companies transacting business in the State on the 31st day of December, 1894, is herewith respectfully submitted.

REGULAR LIFE COMPANIES.

The whole number of regular or level premium life companies transacting business in the State during the year was thirty-nine, being two in excess of the number for the year previous.

The business transacted by these companies in the State during the year, compared with that of the preceding, is shown in the following table:

The following table gives a comparison of the business done by the regular life companies in Michigan from 1870 to 1894 inclusive:

Table No. I is a general statement of the business of the regular life insurance companies transacted in the State of Michigan during the year ending December 31, 1894.

Table II shows the assets and liabilities of the thirty-nine life insurance companies doing business in this State on the 31st day of December, 1894. The total admitted assets of these companies was $1,079,762,826.09; an increase of $86,291,331.13 over the showing made on December 31, 1893. The total liabilities of the companies reported was $925,911,699.02, an increase of $78,253,296.64 over 1893. The increase in the reinsurance reserve was $77,818,940.24, and the increase, of net surplus as to policy holders, $8,038,035.49.

Table No. III is a statement of balances of net or ledger assets, December 31, 1893 and December 31, 1894.

Table No. IV is an exhibit of receipts and disbursements during the year and compared with those of the previous year shows an increase in total receipts of $20,335,503.33 and in disbursements of $11,395,317.36. The total premium receipts increased $12,766,760.75, of which amount the Michigan Mutual Life increased its receipts $22,137.79. The increase in the amount paid for losses and matured endowments over previous year is

Table No. V shows the number and amount of policies issued and terminated during the year, compared with the business of 1893. There is an increase in the number of policies in force of 107,301 and in the amount at risk of $161,374,029.48.

Table No. VI is a showing of the number and amount of terminated policies during the year, with manner of termination.

Table No. VII shows name, location, and names of officers and attorneys of life insurance companies.

STOCK CASUALTY INSURANCE COMPANIES.

The number of companies of this character authorized to do business in the State, under act No. 237, laws of 1881, on December 31, 1893, was eighteen. For information relative to their assets, liabilities, resources, and amount of income, expenditures, and the business transacted by these companies, reference is made to the statements and statistical tables.

ADMITTED SINCE JANUARY 1. 1895.

Since January 1, 1895, the United States Casualty Co. of New York City has been authorized to do business in the State.

FIDELITY GUARANTEE COMPANIES.

The following named companies are authorized to do business under act 194, laws of 1885:

National Surety Co., Kansas City, Mo.

Fidelity and Deposit Co., Baltimore, Md.
Lawyers' Surety Co., New York, N. Y.

American Surety Co., New York, N. Y.

CO-OPERATIVE OR ASSESSMENT LIFE COMPANIES.

The number of companies or associations of this character doing business on this plan in the State, December 31, 1893, was twenty-seven, of which number four were organized in Michigan, and twenty-three were of other states. During 1894 there has been added to this number the Knights Templar and Masonic Mutual Aid Association of Cincinnati. At the close of the year said company did not renew its license, thus making on December 31, 1894, a total number of twenty-seven such associations authorized to do business in the State.

CO-OPERATIVE OR ASSESSMENT ACCIDENT COMPANIES.

December 31, 1893, the total number of companies authorized to do an accident business on the co-operative plan was seventeen. Of this number one was organized in Michigan and sixteen were from other states. During the year 1894 there was added to this number the National Masonic Accident Association of De Moines, Iowa. The Odd Fellows' Mutual Aid of Piqua, Ohio, withdrew during the same period, making the total number authorized to do business, on December 31, 1894, seventeen.