The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-09-08
ROYAL INSURANCE COMPANY.



Turner, Esq, NJ p, in the Chair.
The Actuary and Manager (Mr. Percy NJ.
Dove) read the
REPORT FOR THE YEAR 1866,
fiom which we extract as follows:-
The Directors on. this occasion present to the
Shareholders of the Royal Insurance Company
the twenty-frst annual report OF its affairs.
FIRE BRANCH.
The statements of adverse results shown bv
similar establishments during the last year win
have prepared the proprIetors for the announce
ment which the directors have to make that, to
some extent the company has shared in the
general calamites OF fire insurance offices during
that period.
The Fire losses sustained by the Royal Insu-
rance Company have amounted to G3ls, 946 Os.
Cd. Isl, 694, 1907 or nearly n per cent of the
premiums received. This is Tar beyond the
legitimate per centage OF claims which, under
ordinary circumstances, would have accrued,
though less than the amount anticipated at one
period of the year; and, although the total sum
is ten per cent. less than the average ratio of
loss recently announced authoritahvely as fall
ing upon three other well-known and highly
respectable establishments of large revenue
during the year 1861 this combined experience
affords together with the still more disastrous
results of some other companies which might be
referred to, undeniable evidence that the pre-
MUM charge upon Fire Insurance is at present
uuremuneratlve. This now established fact has
however, formed so universal theme of regret
ful comment at recent meetings of Fire Offices
hat the Directors Of the "Royal" content them
selves with assuring the Shareholders that they
are prepared for a rearrangement of rates of
premium, and have, indeed in their practice,
anticipated the general action of offices in this
particular. They will, however, at the same
time, as they have ever done, carefully guard
against recognizing more than a moderate addi-
tionHto. the existing charges, sufficient to meet
the eXigency of the occasion, and no more.
Passing to another subject-the progress of
the Company, as respects the amount of busi-
ness effected, has been satisfactory, the returns
OF duty published by Parliament, on the motion
of the Chairman of this Company, exhibiting
by far the largest measure of increase which the
Company has ever, in its most prosperous times,
experienced The total net amount OF the Fire
premium for the year, after deducting guaran-
tees is f414, 1888 l3s 49, G65), which does not
show an advance quite corresponding in COM
parative amount with the increase of duty.
This, it should be explained, arises in some
measure from the fact that the Directors, seeing
and foreseelng for some time tle unfavorabe
epoch Of Fire Insurance business winch we are
passing through, voluntarily surrendered a por-
tiOn of their acCTung advances of premium for
the purpose of protecting themselves by qua
rantee from undue limits on any one risk.
LIFE BRANCH
Turning now to the Life Branch, it remains to
be reported that the progress mas been marked
by unchecked success. This Will be male clear
by one OF two statistical eXpositions.
Taking the four previous quinquennial periods,
it is found that the first, from l845 to l849, in
elusive, commenced with sum assured lor:-
Year 1916 Of. f23 349.. and ended the period
with total sum assured
ot.....,,.,...... .t272,796
d.. 1850; 95,65O do. do 783,4o8
Do 1856, 2O0 5l4 do. do. l655670
Do. 1860. 1922 do. do. 3,4S9,218
And now the first year Of the fifth like period,
VIZ, 1866, the Company has granted assurances
for 1885, 1868 Is. 3d. 443,3l5), nearly twice the
amount at the commencement OF the last quin-
quennial periOd-more than one million sterling
OF the sum insured having been proposed during
the year. The amount of declined lives alone is
tlS9947 Is. I'd. (S949,735
A further important testimony, however, is
given that the ''Royal" has not yet even arrived
at the zenith of its favor with the public, by
the fact that the sum assured for the six
months OF the present year, alter deducting all
guarantees thrown of, almost reaches half
million sterling the actual amount being
&G99 l24 As. 30. (S2, ,405,620), a sum larger than
the so'al amount assured tor the entire year
commencing the last quinquennial period, so
that, at any rate, for one further year, the i'm
petus OF continued advance is not likely to
slacken. In this department the shareholders
and poicy-holders have tho opportunity, OF
which II is trusted they will avail themselves,
not only to keep up the high position of the
ROYAL" but even TO advance it considerably.
The result OF such an activity on their part, it
is confidently affirmed, would so tell upon the
permanent prosperity of the establishment, that
the favorable result on the property Of the
shareholder and on the profits of the life
assure would be such as would exceed their
highesr an,icpations
The Directors had during the last months OF
1866 entertained some apprehension that the
results Of the year, so far as respects the Fire
business would have been far worse than lthey
have turned out tJ be- Many OF the FIRE
Claims, however, having proved in their settle
ment lar less than the amounts estimated, and
the increase OF revenue at the same time hay-
ing reached to larger SUN than was at one
time anticipated, the total result, including in
terest, instead OF showing a considerable loss
on the years transactions, disCloses small
profit OF 934G3 rs. Cd. To this amount should
likewise he added the increase whiCn has taken
place in the Reserve Fund from interest auG
some other items, which give further sum o
864 .. These together form gain OF f99l6 rs, sd
TO- ,590) on the year.
They therefore propose TO the proprietor
that dividend be declared OF IS. per share, anC
bonus of As. per share, together, Is. per share
free of income tax
II is finally, matter Of satisfaction to statO
that after witbdra wing the amount OF this diVi
d and and bonus trom the profit and loss ac
G ount a credit balance will still remain to tina