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To His Excellency,

sert to Law Sch. from New Rus. Sch.

STATE OF COLORADO,

OFFICE OF SUPERINTENDENT OF INSURANCE,
DENVER, MAY 1, 1896.

A. W. MCINTIRĖ,

Governor of Colorado:

In compliance with the Insurance Laws of Colorado, I have the honor to transmit herewith the Fourteenth Annnal Report of the Insurance Department, showing the business transacted by all Insurance Companies authorized to do business within the State during the year 1895.

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14-5213

This report contains a full and complete detail of the business of Fire, Fidelity, Casualty, Accident and Life Insurance, as rendered by the different companies herein represented, for the year 1895.

FIRE INSURANCE.

The following Fire Companies have been licensed to transact business in this State, all of which are licensed for the first time:

Name.

Merchants' Mutual Fire Insurance Company.
Mutual Guarantee Fund Fire Insurance Company.
Standard Mutual Fire Insurance Company

Name.

Location.

Baloise Fire Insurance Company
Essex Mutual Fire Insurance Company
New Zealand Fire Insurance Company.
Patriotic Insurance Company.
Sun Insurance Company..

Colorado
Colorado
Massachusetts

The following companies have retired from the State during the same time:

Location.

Capital.

Mutual.
Mutual.

Mutual.

Switzerland
Massachusetts...
New Zealand.
Ireland
California

Capital.

Mutual.

594,675 00

300,000.00

This table shows $894,675 of capital withdrawn from the State in 1895, as against $2,207,200 withdrawn in 1894.

On January 1st, 1896, there were 96 Fire Insurance Companies of other States authorized to do business in this State, and 5 Mutual Fire Insurance companies of this State.

The amount of risks written in this State during the year 1895 was $90,481,948.31, as compared with $86,931,558.44 written the previous year, showing an increase of $3,910,389.87.

The premium receipts were $1,199,017.34, as against $1,466,933.22 during the same time. Average rate of premiums $1.65 as against $1.68 in 1894.

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The losses paid decreased from $810,568.87 in 1894 to $520,096.96 in 1895, and the ratio of losses to premium receipts from 55.25 per cent in 1894 to 34.68 per cent in 1895.

The following table shows the comparative business by years since the organization of this Department:

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There are no Colorado companies with a paid up capital doing business in this State. The following companies are organized and do business on the assessment plan:

The Farmers' Alliance Mutual Fire Insurance Company.
The German Mutual Fire Insurance Company.
The Grange Mutual Fire Insurance Company.
Mutual Guarantee Fund Fire Insurance Company.
Western Mutual Fire Insurance Company.

The amount of risks written in Colorado by foreign companies creates the hope that local capital will soon interest itself in insurance business.

FIDELITY, CASUALTY AND ACCIDENT INSURANCE.

On December 31st, 1894, there were 28 Fidelity, Casualty and Accident insurance companies authorized to do business in the state. Since the above named date, the following companies have been admitted to this State:

The Banker's Accident Insurance Company of Iowa.
Mutual Benefit Association of Colorado.

The amount of risks written within the State during the year was $43,058,913.31, as against $29,331,614 in 1894, showing an increase of $13,727,299.31.

The premium receipts were $262,460.57, as against $222,854.05

Losses paid $180,847.11, losses incurred $196,549.03; as against losses paid $141,406.09, losses incurred $143,392,07. Total expenses $34,934.23, as against $26,859.06.

The following companies have withdrawn from the State during the year:

National Masonic Accident Association of Iowa.
Star Accident Company of Illinois.

United States Mutual Accident Association of New York.

LIFE.

On January 1st, 1896, there were 25 Life Insurance Companies anthorized to do business in this State.

Policies in force Dec. 31, 1894,. 14,249.. Amount of Insurance$45,477,497.53 Policies issued during 1895,.... 16,001.. Amount of Insurance 9,873,207.05 $55,350,704.58 Policies terminated in 1895..... 9,130..Amount of Insurance 8,943,093,75 Policies in force Dec. 31, 1895,.. 21,120. . Amount of insurance$46,407,610.83

30,250

The above figures show an increase from $45,477,497.53 written during 1894 to $46,407,610.83 written during 1895.

Premium receipts for 1895
Expenses

Losses incurred during year
Losses paid during year

ASSESSMENT.

$1,487.304.83.

223,361.48.

497,956.05.
491,526.38.

Premiums received

Losses paid
Losses incurred
Expenses

The following companies have been licensed to transact business within the State since January 1st, 1895:

American Temperance Life Insurance Association of N. Y.
Bankers' Life Insurance Company of New York.
Northwestern Benevolent Society of Minnesota.
National Life Association of Connecticut.

Risks written during the year $7,956,075.00,

217,701.48.
189,157.13.

195,949.43.
36,301.35.

The following companies have withdrawn from the State:
Knights of the Globe Mutual Benefit Association of Ill.
Knights Templars and Masons' Life Indemnity Co. of Ill.
Merchants Life Association of the U. S., of Missouri.
United States Masonic Benefit Association, of Iowa.

Grand Recapitulation of Premiums Received by all Companies.
Fire Companies,..

Fidelity, Casualty and Accident Co.'s
Assessment Companies.
Life Companies,...

.$1,499,017.34
262,460.57
217,701.48

1,487,304.83

Total Premiums Received..

$3,466,484.22

Grand Recapitulation of Losses and Expenses paid by all Companies.

Losses paid by Fire companies..
Expense paid by same...
Losses paid by Fidelity, Casualty and
Accident companies..
Expenses paid by same.

.....

Losses paid by Assessment companies
Expenses paid by same.
Losses paid by Life companies.
Expenses paid by same......

.$520,096.96
418,087.31

180,847.11

34,934.23 189,157.13

36,301.35

491,529.38

223,301.48 $2,094,251.85

The above figures show premiums to be $1,372,232.37 over losses and expenses paid by all companies.

THE INSURANCE DEPARTMENT AND OUR

INSURANCE LAWS.

I recommend that every assessment certificate or policy in a natural premium company be required to be branded at the top of the first page of the contract, in plain type, that its premiums are not fixed, but that future cost will depend upon the experience of the company.

The old-line companies writing insurance, which calls for the withholding of dividends until some future time, should be required to report the amount of general as well as special Surplus, as is done in the Connecticut report. If a company is not paying dividends on certain policies, and claims to be accumulating a surplus for them, there should be some means of ascertaining whether they have on hand, or are accumulating, a surplus.

Every life company, of whatever character, should be required to make a full annual report to the Department, whether fraternal or not. The majority of insurants entering the fraternal organizations are less able to determine the character of their management, whether honest or competent or not, than are those entering the old-line companies, and should have the benefit of the Department supervision. They are also usually less able to bear the loss consequent upon dishonest or incompetent manage

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