The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1883-08-08
The Liverpool and London and Globe In
sUrRnce Company.

For the purposes of efficient protection against
danger from fire We must have solid and enduring
strength. multitude of companies that are will
ing to take premium from the people and To stand
by them through the haicyOn days of the business
OF fire underwriting, are apt when seasons Of
severe and continuous losses arrive and succeed
one another. 20 fan away and become no better
reliance then broken reeds. When their protec-
tion is most needed they fail. They are for this
reason Enthusiastically. for who can tell when their
contract Of indemnity will not prove smart and
delusionY They are as vet few companies which
attain TO the inyincbe strength derived from that
complete world wide average OF risks IN fire in
suranco which fOrtIies the Liverpool and London
and Globe against all times and contingencies,
whether ordinarily destructive or exceedingly
disastrous So effectively that the stockholders
hardly experience any difference between the mild
seasps5 and the most severe. But each of these
few long established and powerful companies Is a
Pharus IN the sphere of tire underwriting and m
the darkest and most oalamitous years Of the
business sustaius and fulflls the hopes Of the
the thousands that depend on its indemnity for
financial redemption. Thus they keep bright the
name and honor Of the institution Of iire under
writing
At the forty seventh general annual meeting Of
the ur1prlolUrs of the Liverpool and London and
Globe Insurance Company, held in Liverpool on
the 18Th ult., reports and statements were read
and speeches made which gave a very clear and
comprehensive view Of the business and methods
of this greatest Of existing fire corporations, HIoH
Efr riIr'. uf frfusF risks ns ssfs. From
the company did, last year very conservative
business. and, by reason Of its careful manage
ment, escaped many losses that 1t would otherwise
have had to meet and than IN the great fires in
which it was involved such a. the Wood street
fire, Cheapside, London, It visited with
much lighter experience than befell its cOntem-
pUraries This good fortune was not accidental,
but the result Of the company policy 10 refrain
during the prevalence Of Inadequate rates and
almost desperate competition from taking part IN
the demoralizlng race for business at any cost and
hazard especially where merchandise ant other
property are dangerously concentrated and stored,
and msuiicicntly shielded from the perils of an
outbreak and devastating spread Of the flames.
But the cOmpany's high and enviable reputation
for prompt and liberal payment Of losses, even
when amounting 10 over three millions, as they
did NJ the great Chicago aud Boston fires, has
given 1t the "pick Of the wsrld's business and
its fire premium income, last year, after deduct
ing the risks reinsured, amounted 10 $685., So,
an increase Of Sl67,7S7 over the previous years.
Against this income stand the company's losses,
S3E9,O95, showing gain Of SssSj,O0p, which, with
receipts from interest, amounts to S76j,3i5, and
which, albeit only y per cent, on premium in
come, amounts to OpeT cent on the shareholders
capital.
Such are the rich and ripe fruits of the fore
sight and providence which, in prosperous days,
such rs followed the great Chicago and Boston
fires, accumulated and set aside reserve fund Of
s. 10000 and other protective funds, which give
the company a solid bulwark of assets Of about
ten and q quarter million dollars, more than half
ductiye American securities giving its pOlicyhol-
ders in the United States the protection of that
amuuut-at least 70 per cent, III excess of all the
company liabilities in this country.
An insurance company like the Liverpool and
London and Globe which not only has spent, but
which can afford To spend in one year couple Of
millions II dollars in the United States over and
about its receipts during that period in this cOun-
try, increasing its assets by million dollars
at the same time necessarily and inevitably com
mands the entire confidence and the best business
of the land Il is, therefore, no wonder that the
progress Of its business in the United States has
been immense, running up from its net fire pre-
miums Of S-OgO3 in 1851 TO $B.ll5,l6j in net pre-
MUM receipts in lSS2
The Liverpool and London and Globe Is not
only the greatest fire insurance company of the
present but the model for the fire insurance com
pauies Of the future, which will be completely
fortified by worldwide and exactly balanced
averages, and so strongly iutrenched behind their
vast reserved uCCumulatiOns as 10 bid defiance 10
cOnfagratiUus of the must extraordinary magni-
tude aud to successive seasons Of fiery calamity
and loss, and TO leave in the lexicon Of regular,
practical and scientific fire underwriting "no such
word as fail. The Insurance Timos.-JrUs f,>3.