Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-03-31


An Increase Of Nearly Five Million in
Explosion Brings the Losses Way Up
All the Companies In the State Sound.
We are indebted to Insurance Commits
sloner McGiu for advance sheets of his val
liable annual report from which We make the
following extracts:
Lie aggregate business of 1873 of the in !.
surance companies now doing business in
Minnesota, as recorded in the tables here
| with presented, compared with that of the
previous year, while it does not afford to the
companies occasion for unmixed JOY, is new
ertheless in many respects Encouraging to
them, showing, as it does, somadecided ad-
vantages. ~
There are at this time ninety-three COM
panles doing business in the State-an in
crease OF two over the number reported last
year. The number embraced in the tables
is ninety two-the Minnesota Farmers Mu-
tual being excluded on account of the dis
similarity of its business and the character
OF It's assets, to those of the other compa-
MES.
There are seventy-six American and six
teen foreign companies in all. OF the
American, three-two marine and one fire.
are mutual companies, without capital The
other seventy three are joint stock compa-
MES, with an aggregate capital of 1884, 696, 200,
and it is matter of congratulation that
there is not one company in the entire list
whose capital is impaired to the extent of a
dollar. On the contrary, every company has
q aurn1ua 0xyor oil liabilities
The weakest compromising the amount
of the surplus the measure of strength
over two thousand dollars of surplus, and the
strongest, over twenty-five hundred thou
sand.
BUSINESS IN MINNESOTA.
The business of 1878 in the aggregate, as
reflected in tho foregoing tables, appears to
have been declining one. Compared with
that of the previous year, there was ma
terial reduction in the volume of business
done. Separating, however, the Minnesota
business from the aggregate, and consider
ing 1t by itself, the contrary seems to have
been the result. Thus the amount of fire
risks written in Minnesota during the past
year was 1854, 655, 661 against $6O,l57,4 88 in
l877-an increase of over four and one-half
million dollars. The inland business in
creased from So 1885, 483 in 1877 to $751;
$40 in 1872 difference of $448,O37- MAX
ing an aggregate increase on the fire and in
land business of nearly five million dollars
in the amount of business written, but the
increase IN the total amount of premiums re-
ceived was not proportionate to this increase
in the amount of business written, as will be
shown farther along.
CLASSIFICATION OF THE BUSINESS.
Classifying the business between the COM
panies of this State, the companies of other
States, and the companies of foreign coun-
tries, we have the following results:
COMPANIES OF THIS STATE.
Risks Premiums Losses
written. received. incurred
,, and Marine $12,248,s7l 1871 90 es,7se 10
Mutual ...... s.o64,e73 1929 80 1892 90
Total. -. $l5,a1s,e44 s1a1,14o "a 5 8o,78l 80
other States. 47,ess,ss5 eao,8ls 70 e5o,s2s 81
MES. ........ 9,5t6,392 1912 90 154, os5 80
Grand Total. s72,4e7,2o1 seo1, oes % s885,472 40
It appears from this statement that while
the Companies Of other States'' and the
"Foreign Companies incurred losses, in the
aggregate, in the excess of their aggregate
premium receipts, amounting to $19,811.42
in the case of the former and $14,9536O in
the case of the latter, the two Minnesota
companies show an excess of premiums over
losses of $50, 1885. Doducting thirty Dor
cent. of the premiums for expenses low
estlmate-there is a net gain here of $11,-
ol6'55. Ibis is not very large margin, but
compared with the record of the other State
and foreign companies, it will do very we'll.
The aggregate amount of net premiums of
these companies was $769,925.99. Thirty
per cent. of this amount, or $23O,977. 70 must
be allowed for the expenses of obtaining the
business, which, including the two per cent.
paid for taxes, is low estimate. Therefore
the facts may be clearly stated as follows:
Aggregate fire losses incurred. ...$ Sc469l OF
Expenses, being 80 per cent. Of
premium recipts.... ......... 230, 977 79
Total aggregate losses to the
companies. ........... 81, O35, 66S 80
Deduct aggregate premium re-
ce1pGs. OBSERVATION-DISCLOSURES. 1926 SO
Aggregate net lesses to COM
panles. ...................$ 265, 742 81
The above amount of 1906, 742.81, repre-
sents the amount these companies are "out''
in the aggregate, on their years business in
Minnesota actual amount of losses they
have sustained over all income or benefits.
COMPARISON.
The following affords comparison of the
aggregate business in Minnesota of the last
two years:
1877. 1878.
Fire risks written $60447,5 1888 90 $64, 665 6s1 90
Inland risks written. 7,3S3,483 90 7,831,54O co
Total risks written
during year. $67, SAC, 931 90 S72497,2O1 90
Fire pref iums received 851 ,128 "a 86S531 80
Inland premiums
ceived. ............. 1928 81 32,529 IS
Total premiums re-
ceved. .>............. sos382 81 S9o1,o66 %
Av'ge fire premium rate 1.41 1874
A3ue irlan 1are1n