The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-03-07
LIFE INSURANCE IN NEW YORK.

The Amount Of business for 1870 STATISTICS
of the Three GreeG Gay COmpaates- RAPID
ProRress of the Equitable.
Soon after the opening of the new year. when
the returns from the different life Insurance
companies have come 10, carefully prepared
IND digested chart as IT Il called, |, published
showing the relative standing, IA 10 business
done, expenses incurred, aud assets accumu.
lated, of the various companies doing business
in New York. The returns are those made to
the State Superintendent of Insurance a. Albany,
and as nearly every life insurance COMPANY of
anN account whatever does tries 10 do bust
ness iu New York, the chart becomes a fair aud
clear exhibit of tie relative standing of the com
pauies in the Union.
The total number Of policies issued nv New
York city companies in 1870 was 12g 7)5 in
surfing the vast sum of 1908 906066. Bat great
these figures are, they yet fall below those OF
the wear 1869 and some preceding years, the ex-
planaton of this fact being that people nave not
been making So much money during the last
twelvemonth rs heretofore. The receipts pt iife
insurance companies, like those of savings
bauks, though not exactly representing, vet
indicate the relative saving capacity of the coun-
try from year TO year. But while less than in
some former years, when business briSk
aud every body prosperous. the returns for 1870
still afford striking evidence of the prudence
and thrift of the people.
The progress of fife insurance in New York
is shown by the following figures: The total
number of policies in force since December 81 ,
1866 was 23i, 1885, insuriug S9i4 74t9l1. Tue
total number Of policies in force DeceBIber 81.
1870. was 312 663, insuring 81 OBS 33j. 3lS; or
a. increase of SS5, SOL 003 in companies beinng-
jng to New York State alone. When It IA re-
membered thai this increase has experienced
the usual reduction bv reason of death and
term claims and surrendered policies L. can
hardly be doubted III lat life insurance has made
q handsome gain during the year, and thai our
New York companies have maintained their
hold on the confidence of the public.
The three city companies which show the
largest aggregate amount of insurance effected
during The year are
Equitable. $40 205, 100 Mutual Life. s33 i5S 2l7
New York Life. $27,l4l,935
The number of new policies issued by these
companies vast
Mutual. ,..... 12 463 Equitable. ...... 10, 063
New York. 80
The average amount insured under these poll
cies vast
Equitable. 49,. 81 004 New York. .... 81. 73j
MUTUAL. ............. S3,SSf
The increased ratio Of assets over 1859 was:
Equitable. ...... POSI- Mutual ........... Is 76
New York. 1Sf5
These figures show that our leading com
panies are in a healthy and progressive condi-
ton. The long-stsndipg Mutual maintains its
steady advance; the Equitable moves aheai
with rapid strides; the New York follows c'ose
behind Our figures show that the Mutual has
iesued the largest number Of policies, but the
Equitable policies of the largest average amount,
SO that the total amount Of new insurance is
about $1,000 600 greater --he,c York Sun.