The true northerner., 1878-02-22
Michigan Insurance.

Commissioner Row, says the Lansing
Republican, of the Michigan In
surance Bureau, has just issued
summary of the standing of the stock,
fire, marine, and fire-marine insurance
companies reporting to this bureau on
Dec. 81, 1877.
The entire capital stock of the COM
panies doing business in the State is
500, 7S1, ,279.35; surplus over capital, re-
insurance fund, and all other liabilities,
$22, $50, 366. 40; surplus as regards pol
icy-holders, $64, ,625, 707 SO; total i'm
pairments of capital, $50, ,627.5S.
The aggregate risk: written in Michi-
gan during 1877 was $l45, ,843, 952. 80;
gross premiums received during the
same period, 1888, 832 So; losses in
Cured, 81, $40, ,5S8 55, leaving balance
of $541 244.03 above losses incurred.
The Commissioner states, however,
that the difference between premiums
received and losses incurred in the State
cannot be considered net profit. A de-
duction of the usual estimate. 33t per
cent. of the gross premiums, in addition
to the losses, to cover the expenses of
the business, would show net loss in
this State on Michigan business for
1877, not estimating any further expense
for reinsurance on risks still in force as
sumed during the year.
The aggregate of risks written in this
State during 1877 is greater by about
s., 900, 900 than in 1876, but the pre-
MUM receipts are less by $40, 900 in
1877 than in 1876, while the losses in
1877 are greater by 1886, 900 than in
1876.
The report shows total of la COM
panies doing business in Michigan, of
which 103 are from other States, 5 from
foreign (European) governments, 3
Canadian, and Michigan.
The total paid capital of Michigon
companies is $400, 900; admitted assets,
$3.50, ,662 50; liabilities, including rein
surance fund and capital, $3.50, 075. SO !;
surplus as regards policy-holdcrs, $685.
5S6 Ga; risks written in Michigan during
1877, $12, 1876, 235; premiums received,
$149, 800. 81; losses incurred, $50, $40. OIL
losses paid, $50, ,1S2.47.
The total paid capital of companies
from other States is $39, 240, ,010.0O ad-
mitted assets, $93, ,666, 1929; total liza
bilities, $40, 800, OH. 46; surplus as re-
CARDS policy-holders, $50, COG, 136. 81
risks written in Michigan during 1877,
S114, ,022, 999. Ga; premiums received,
81, ,463, 1923 losses, 81 ,026, $3.50. 70;
losses paid, 1867, 1874.
The total paid capital of the five
European companies doing business In
Michigan is not given, as the home-office
statements of those companies are not
required to be filed in January. The
risks written in this State by those COM
panies during 1877 amounted to $l5,-
26O, 766.07; premiums received, $2O4,-
7O3. 6s; losses, $l36, 234. 80 losses paid,
$145, ,25S.21.
The three Canadian companies rep
resent q total paid capital of $685.
O32. 20; admitted assets, so. 1885:
total liabilities, $3.50, 466. 81; surplus
as regards policy-holders, 81. .329, ,9S4 2S;
risks written in Michigan during 1877,
"a, 423, 952.21; premiums received, $685.
995. .9S; losses, $95, ,913.SS; losses paid,
500, ,320.37.
The Commissioner states that the
financial condition of the companies ex-
hibits unlooked-for strength in view of
the depressed state of business of all
kinds, depreciation in values, large losses
by fire, and the reduction in rates of in
surance during the past year.
The Detroit Fire and Marine and the
Michigan State Insurance Company of
Adrian have been examined since Jan.
!, and their statements verified.