The New York herald., 1871-03-16
Life Insurance Business for 1870.

Our attention has been arrested by valu.
building, and by tables in various insurance
journals, giving the amount Of business which
the leading life insurance companies in the
city and country have transacted during the
year 1870. 1t appears that in this city alone
there is total amount Of risks of thousand
and forty-nine millions four hundred and fifty
two thousand dollars while the grand total Of
risks in the different companies throughout
the country is close on two thousand millions
of dollars. Although the general state of
trade has not for some time been so produc-
tive as heretofore, we are surprised to find that
policies amounting in the enormous aggregate
to 1910, 54S have been issued by forty-one
companies, adding over 800, l95,545 to the
amount in force on December 81, 1870, after
the usual deduction Of death and term claims
and Of surrendered and lapsed policies.
1t is of Importance to see this continued
large saving capacity Of the community, as
life insurance companies, like savings banks,
indicate the desire which prevails among our
business men to provide for the future. OF
companies that have issued over 81, 200, 900
during the year 1870 we find the five follow
ing:-Equitable, $40, 295, 799 Mutual Life,
1913, 45S,2l7 New York Life, 1927, 14l, 1894;
Continental, $25, 5,249. 44O; Knickerbocker,
$l5, 141, ,739.
A marked feature in this business at the
present day is the large amount taken by
some of our leading capitalists in New York
and in other principal cities. These amounts
will vary in many instances from 100000 to
$3O00O0, divided among such companies as
we have named above. Our companies have
not yet ventured upon such large risks on
single life as is the case in England, where
from 9l5,OO0 to EGO, 900 policies are granted.
The greatest amount issued in this country is
as yet only $4,000, which we understand to
be the limit of the Equitable. In Europe,
however, large risks are preferred, as they
are generally applied for by class of persons
among whom the chances of death are lessened
by their habits of life and by the remedies in
case of sickness which their ample means
place within their reach
The average amount of the policies issued
by our five leading companies, as shown by
the latest official returns, is as follows =
Equitable, $4,000 New York, $2,785;
Knickerbocker, $2,692 Mutual Life, $2,6S4;
Continental, So, O99 The career of these five
companies has been remarkable. Within
period of twenty eight years they have out
stripped every similar institution in England
in the extent of their business The
Equitable and Continental seem to have
experienced the most rapid growth, the former
in brief space Of eleven years ranking first
in new business and second in the total amount
of its transactions, and the latter within five
years of its organization taking the fifth place
on the record. The following figures show the
total amount of policies in force December 81,
1870, in these several companies Mutual,
$242, OlS.75 Equitable, $143, $40, 1884; New
York, Sill, 1865, 1858; Knickerbocker, $G1, $780,
254; Continental, $54, ,514, 100.
The value of the published statements to
which we refer can hardly be overrated at the
present time, when some distrust has arisen
from the recent failure of two life insurance
companies. 1t is only through such means
that the public can be satisfied of the inhe-
rent soundness of the system when properly
administered, which it is evidently the inten-
ton that 1t shall be. 1t Is noticeable that in
England attention has been drawn by the
| House of Commons to the excellent general
| management of our American life insurance