Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1895-12-22
REPORT
OF THE EXAMINATION OF THs
NORTHWESTERN MUTUAL LIFE lNSUR-
ANCE COMPANY,
OF MILWAUKEE,, WISCONSIN.
1895.
OF THE EXAMINATION OF TUE
STATE OF WISCONSIN.
Office of the
COMMISSIONER OF INSURANCE

COMMISSIONER OF INSURANCE.
MADISON, WIS, October rs, 1895.
Hon. H. L. Palmer, President, North
western Mutual Life Insurance Co.
Dear Sir:-Herewith is transmitted,
signed by the Commissioners of the De-
partments participating, the report of
the examination of your Company
voice the sentiments of all the Com
m;ss:oners, when l say, that we regret
exceedingly the publication OF the I'M
authorized statements which have ap-
peared as to the results Of the examina-
ton which seemingly reflect upon the
Company and which the report as a
whole does not substantiate.
While it is true that the Commission
in its classification of liabilities has re-
duced the General Surplus, there re-
mains that honest difference Of opinion
between them and the officers of the
Company as 10 the business Of several
items making up such reduction. Had
this examination been made in Janu-
airy of this year, it would have been i'm
possible to enter as a liability the addi-
u.onal S1S7,75227 for death losses, the
proofs not having been received at that
time; but being an examination made
eight and nine months after December
31st, with the purpose Of showing the
actual condition of the Company on De-
cember 31st, the deaths occurring IN
1894 are in this report classed as la
b.lity, even though the Company on
that date had no knowledge Of the
claims.
The other item of s12S,3SSOO which
embraces the EXTREMIST liability which
can possibly arise under the class OF
policies to which it is assigned as Re
serve for paid up insurance claimable,
and which the Commissioners admit the
exigency for which is but remote pos
sibility, hardly justifies the unauthor-
ICED criticism as 10 the reduction OF the
surplus. The two items alone equal
1916, 14027 of such reduction, which
time of itself will return to the general
surplus from which il is therefore but
technically taken, thus leaving a reduc-
ton, which, in so large Company, is
but a small item in careful and rigid
examination.
An examination in order to be of real
benefit. must not only be thorough but
the report should show the actual re-
suits; and, it is TO be regretted, that all
Companies cannot be examined at the
same time and thus prevent the unjust
rival criticism Of garbled extracts.
Surely the policy holders Of your Com
pany have reason to be we'll satisfied
with the results of this examination;
every dollar received has been ac-
counted for, and every dollar of assets
and reserve liability claimed is on
hand.
AS the Commissioner of your own
State, I am highly Ngratified with the
showing made by your Company and
the favorable comments as to its stabil-
itv as made by the other Commission
ers. I can. bear no better testimony as
to the excellence Of your Company than
bv informing you, that have forward
ed to your Mr.. George Pick. without So
licitation, my application for $lO'OOO
policy of insurance in your Company.
| do this. not only because of my desire
for insurance as good as the best, but
to show that l have the confidence
which is all the more readily accepted
because IL costs money.
I desire also to thank you for inviting
me to participate in this examination;as
it has not only been a valuable expert
ence but also the means of my becoming
better acquainted with the capable gen
nlemen at the head Of the Insurance De-
partments of Massachusetts and Hi
nois. whose kindly aid and counsel will
materially assist me in making the
Wisconsin Department Of greater ben
eft TO our people.
| am prompted in writing this letter
to discourage adverse rival criticism
and place in its proper light the results
of this examination, which have already
been m:sconstrued by the publication OF
unauthorized statements and trust 1t
NAV be the means Of correcting errone-
Gus impressions.
Very truly yours,
WILLIAM A FRICKE,
Commissioner of Insurance.
REPORT