The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-08-18
ROYAL INSURANCE CoxPANY.

From the Liverpool Masl A,tO. 8, 1870.
The annual general meeting of the sharchold-
ers of the Royal Insurance Company was held
yesterday morning, at the Head Office of the
Company, North John street, Liverpool, for the
transaction of the ordinary business of the Com
pany, and for the purpose of declaring the
amount of profits up to the expiration of the
last qulnquennial period, to be set apart out of
the Life Assurance Fund.
REPORT FOR THE YEAR 1869.
The Directors have the pleasing duty OF re-
porting that the results OF the year 1869 are
highly satisfactory in both departments of the
business.
FIRE DEPARTMENT.
The premiums for the period amount to
G4S5, 1S0 5s. Cd. coz 425 900), and the losses to
$780, 6S5 los. lid. ($1 453 425), being an increase
of premium and q decrease of loss compared
with the corresponding totals of the preceding
twelve months. The net profit of the Depart
ment, including interest; amounts to e78, 154 IS.
sd. ($390, ,770). With single exception, this is
the largest surplus that has been announced as
the result of years operations since the estab-
hshment of the Company; and it is satisfactory
to state that most of the Branches have con-
tributed to it in some measure, the American
Department being the only important one that
shows a small adverse balance
1OuT DHectOr5 nave repeatedly Huu W IelcT
to the fluctuations to which Fire Insurance busi-
ness is exposed The year now under review
has been marked by the absence of fires of any
serious extent but it has been succeeded by
period equally distinguished for the number and
severity of the losses which have occurred in
various parts of the world. The Royal has
shared in many of these and so favorable re-
port as the one now presented cannot therefore
be anticipated for the year 1870.
LIFE DEPARTMENT.
1t will be in the recollection of the share
holders that the results of the Quinquennial
Valuation of the Liabilities of this Department
now fail to be reported. Your Directors feel
that more than the usual interest attaches to this
investigation, in consequence Of public atten-
tion having been prominently drawn during the
past twelve months to the financial position of
Life Offices by the failure of one large Company
and the rumored difficulties of others.
For the better security of the public, o bill,
which has just received the approval of the
Legislature will compel all Life Companies to
publish periodically, important information
respecting their financial position and the means
they possess of meeting their engagements.
Your Directors approve of the salutary provi-
sions of the measure, which enforce the publica-
ton of accounts upon all Companies, and, in
order to afford an adequate confirmation of the
accuracy of the statements of this Company,
your Directors have adopted further check
which they are satisfied will commend
itself to every Shareholder and Assurer.
A valuation of the Life Liabilities
has been made by the officers of the Company as
heretofore, and totally Independent valuation
has been obtained from Mr.. Samuel Brown, one
of the most experienced Actuaries of the day.
1t is satisfactory TO state that the two valuations
| were nearly identical in their results although
in the one case each Policy was valued sepa-
rately, and in the other they were grouped in
classes according to ages.
1t is unnecessary to enter upon the details
here, as they are given fully in the accompany
ing Reports by the Manager and Consulting
Actuary, and it only remains to make the an
nouncement that the amount of Profit accruing
to the Shareholders for the transactions of the
| last Five Years is 9s1, 1888 6s. 3d. (409,665).
The results of the business for the last twelve
months have been as follows:--
| Total Income from
Premiums, after
deducting Reas-
surances. 49,. e213, 420 Ids. Sd. ($1, ,O67 10O)
OF which the 1248
New Proposals
completed during
the year have
contributed, net. El9,0O3 7s. Sd. ($95, ,015)
! The Interest from
Investments. -. e46, ,162 Ids. Cd. (s29O, 800
| The Claims, includ-
!. ing Payments of
Bonus additions. flO4 1888 9s. cd. ($52l ,9l5)
| New Annuities and
| Endowments,
Purchase money,
and Premiums e16,S27 as. I'd. ($S4, 1857
The Interest placed
to the credit of
| these Accounts, Ct, lS5 5s. 4d. 1855, ,925)
After Payment of
all Claims, Annui-
ties, and Ex-
penses of every
description, the
amount added
to the Life Funds
for the year is. e1S3,059 7s. Sd. ($665, ,295)
DIVIDEND AND BONUS.
The Directors beg now to recommend that O
dividend of IS. per share and bonus of As. per
share, and on the present occasion further
bonus of IS. per share from the Life Profits, to-
gether los. per share, free of income tax, be
declared.
After providing for payment of dividends and
bonuses, the funds of the Company will stand as
follows:-
Capital paid up. e269,095 ($1, ,445, AIS,
Reserve Fund and
Profit and Loss
Account. e2S6, ,925 los. (Sl, ,434, ,625,
Life Assurance
Funds ........ e1, ,173 4O1 9s. Id. ($5, ,S67, ,OO5,
DIRECTORS.
The following Directors. now retire, and are
eligible for reelection
Michael Belcher, Esq, Roger L. Jones, ESQ.,.
Thomas Bouch, Esq. William Smith, ESQ.,
Geo. H. Horsfall, ESQ.,, Chas. Turner, Esq, NJ P
CHARLES TURNER, Chairman.
| Auo,,sf 12-0