Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-01-31
SCIENCE oE LIFE INSURANCE.
Some Interesting Facts bearing Upon
This Subject.

The avolutiou of Iife-Insurance ~ one
- az 49,, IN interestlnp studies uf the day.
The idea al life Insurance is not modern
one m has engrossed the attention OF
businessmen, of .fnanciers. ana o, sla.is-
ticians for nearly two centuries, pue ~
only within O comparatively rgeens p.ho ~.
that 1t has Appropriated wnht nly "
termed a pe-fecf system. II IS now enti..
tied to be classed AZ science. Like al
sciences 10 has passed through an elnpnio
stage. indeed through many empire stages.
Experiment after experiment mas peen
tried in its development. many OF Which
havo been discarded as yielding no result,
but manv Others have yielded ,good re-
suits, q combination OF which when tney
work in harmony constitute practlco
realization OF the pure theory OF Llfe IN
surance. That theory briefly stated com
prehends an investment which shall AZ
ford absolute safety for the policy-holder
at the lowest cost. To attain this Involves,
among other important essentials, the most
conservative and economical business man
agement of a company so as to increase its
assets, and the most careful DISCRIMINATION
in taking risks in order 10 reduce the NOR
tality ratio of the company to the mini"
mum figure. Ii requires expert hnancier-
ing and energy. coupled with caution, IL
involves profiting by all experiments that
have been made in Life Insurance, and
accepting and syntheslZing the elements
that have stood the severest tests and viii
form symmetrical whole.
HAS ACCOMPLISHED THIS.
The Northwestern Mutual Life-Insu-
rance Company, of Milwaukee, Wis. IS q
company which il would appear from facts
and figures, and public confidence IN ~ as
expressed IN individual endorsements ana
volume of business done, has accomplished
this. The Northwestern began business
in November. 1858, since which date its ca
reer has been one Of steady progress in the
way of securing new business and increa-
sing its assets. A comparative statement
of the business of the company for the
paat ten years shows the following inter-
esting figures: New insurance written IN
1880, Ss,6S3, ,702; insurance In force same
date. SG4, ,T67. .08i: new insurance IN 1855,
S22, ,577 1856; in force same date, Sll0,7l0,-
s6I new insurance. 1890. over S62 900. 900;
in force, S23S, sos, ,S07. During the thirty
two years of it's existence the company
has paid out TO living policy-holders
for endowments, dividends, and cash
surrender values &c, nearly twice as
much as it has to the representa-
tives of dead policy holders. For 1880 the
business of the company makes an exhibit
OF over Slt,00O, 600 in income. The total
assets are over forty-two millions, surplus
over six and half millions. Its NOR
tality expense tor the year makes the most
gratifying exhibit of $40 per 1000 insu-
rance, as against $3.50 for tho previous
year, a lower rate than any other large
company. For the period of ten years
ending with 1889 the average of death
| losses compared with insurance in force
was 5000 and for five years $3.50, thus
placing the Northwestern in the lead of
| list of sixteen Of the largest companies.
THE RICHMOND OFFICE.
The Richmond Office. which is the general
agency for Virginia and North Carolina,
makes phenomenal exhibit. The Nir-
| ginia general agency was taken by Colonel
| John h. Cary on January |, 1878. Colonel
| Cary then had loug experience IN the life
| insurance business and accepted the agency
! only after a most careful scrutiny into tho
| Northwcstorn's standing and methods or
conducting business. The premium re-
ceipts in Virginia of the year previous had
been 81. .4O6 but under his management Of
the company's Office gradually increased
| from that amount to S3l, ,9O5 for the year
ending December. 1852, when Mr.. 1. A.
Cary was admitted to an interest
in his fathers business, and the
! firm-namo of the agency became John
| b. Cary IL Son, aud the territory OF the
| agency vas extended over North Carolina.
| In 1850 the amount Of insurance written by
| the Richmond Office was Sl39,00O; in 1888
1t was %5l7 900, and in 1890 1t was ~, Al 600.
The total amount Of premiums received
from Virginia aud North Carolina III 1880
| was nearly -20O.000.
The growth of business IN these two
states during the past Six years IL shown
In the following figures;
| For the year ending Dec Il,