Weekly expositor. (Brockway Centre, Mich.) 1882-1894, 1885-05-21
A Years Insurance Business.

The following embodies the material portions
Of Part |, Of the annual report of Henry $.
Raymond, commissioner of insurance Of Mich
igan, relating to fire and marine companies,
covering the year ending December 81, 1884,
The whole number of fire, fire marine and
marine insurance companies doing business in
this state is Ia, of which number l24 are joint
stock companies as follows: Three hoIt
companies, SO companies of other states, and
- foreign companies having branches in the
United States. There is also one mutual fire
insurance company OF another state, and two
mutual fire insurance companies in this state.
Since the date Of the last report four stock
companies have been admitted to and fourteen
companies withdrawn from the state. The net
decrease in the number of companies Is ten,
and the net decrease OF capital represented is
S2.962 90.
OF the three Michigan stock companies two
transact both fire and marine business, and one
confines Its business TO fire insurance
alone. These companies have an in
vested capital of S600,000, with
surplus amounting 10 S32S,if3 %. In 1884
these CONF anies wrote S14,2S2.597 in fire and
$1,469.34 i'm inland risks: received Sl9l, 1896
for fire and S34,(6 for inland premiums; paid
Sll2,63l In fire and Sl1,43S of inland losses,
and incurred $llG,S3S fire and slS,S36 inland
losses
In 1884 the risks written in Michigan by all
the stock, fire and inland marine companies
was S231,24G. i26: premiums received in Mich
igan. 50 3 956 20; losses paid in Michigan,
81 1885, g6 losses incurred. $2,405 973. 15.
In the fifteen wears from 1870 TO 1884 inclusive.
the risks written in Michigan aggregated 81,
5sl.6S3 3i5 Sd: premiums received. S3i 656, OPS
72; loss paid, $40 249412 10; losses incurred,
s19.9i3 555 o. The inland risks written In
Is 4 amounted to Sl5 BE-. 43i: inland premiums
received, sl62,27l l9;inland losses paid, &c.
1856 A.; for the fifteen years. 1870 10 1894 in
elusive. inland risks written, 1884 11S,6S4;
premiums received, S2.0260o2 "a: losses paid,
S1.074.955 "a.
The risks written by Michigan stock COM
panies in 1854 amounted 10 S15, 15l, S47; pre-
miums, Ss25,4 33 IS; average rate charged, LAB
per cent. In the fourteen years from 1871 TO
1884 inclusive. the average rate has varied
from so in 1870 to In in 1874. In only two
years was IL below one Der cent. In five years
ii was higher than in 1884 and in eight lower.
Companies of other states wrote $3.50, 49,
$40 of risks in 1884: premiums received, So
351, 500 43: average rate charged. lbs. In the
fourteen years, 1871 to 1884 inclusive the rate
varied from 100 in 1880 to La 1874. In five
years II was higher than In 1874 and in eight
lower.
Foreign companies wrote S53303, 239 of risks
In 1884 premiums received 1904, 103 19:average
rate charge 30. Between 1871 and 1854
rates ranged from LA in 1871 TO LIS in 1876.
The amount Of premiums received in Nnchi-
gan by joint stock companies OF other states
and countries during 1884 was So l62, 5l2. 81
against 81, 065, 5sS,61 the year previous, show
ing a gain of $9692395 The amount OF
premiums received by Michigan stock com
panies was s225, 433 IS against Sis, 07S75, an
increase over the previous year of S41.354S3
In the Michigan business from 1870 TO 1884
both inclusive. the premiums received were
$34645,33i; losses incurred, Sl9,943, 800; ex-
penses for doing business estimated at thirty
three and one-third per cent. S11 ,54S, 445
making q total outlay Of s3l 492, 900, and show
ing a net profit for fifteen years business Of
SO, 153, 1874, being net profit of nine and nine
tenths per cent. for fifteen years, or 0066 for
each year.
The commissioner saws that learning that
certain parties at Port Huron were acting for
and receiving premiums on policies written by
an unauthorized company. he went to Port
Huron March o. and lodged complaint
against two persons. who were arrested and
bound over 90 the circuit court for trial. On
April 2 he caused the arrest of two men at
Flint on the charge Of soliciting insurance for
unauthorized companies who were also held
for trial In the circuit court
OF the sxty-One mutual insurance compa-
MES organized under the laws Of this state
ffty-two reported their business and condition
December 81, 1884. The membership reported
by these companies was s., i.S; risks In force,
$40 1853, 962; assessments levied by forty-six
companies 276095 81; losses paid by nifty
one companies, 1912 06l ~.