The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1896-03-03
The Fiitiatl Annual Report
OF THE
Connecticut Mutual Life
insurance Company.
OF THE

insurance Company.
To the Members
Fifty years ago u few men living in
Hartford became interested in the then
novel scheme of life insurance. They
had no knowledge OF its science, but
were attracted by its promised result;
the protection of the family against the
money loss incurred through the death
of its bread-winner. A New England
community, with it's steady ways, it's
sobrtety of temper and habit, it's many
homes sheltering Industrious, frugal,
thrifty households, it's pervading senti-
ment of family affection, and its strong
sense or duty seemed to them proper
Held for the proposed beneficence. Not
desiring to make money out of It, but
simply to give this protection at it's ac-
tual cost to all needing it, they deter
mined to make mutual company. And
SO the Connecticut Mutual Life lnsur-
ance Company was born, being char
tered at the May session of the General
: Assembly in 1876, and soon thereafter
organized for business by securing a
guarantee capital, soon after retired,
and five hundred applications for poll
cies, of which nineteen are still in force.
fortunately for the company and tor
the development of life insurance IN
this country, in the absence of an Amer
can Experience, resort was had to the
then fundamental assumptions OF NOR
tally, interest, and expenses which had
been proven safe by the English prac-
tice. The prudent thrift, characteristic
of New England business operations OF
every degree, was from the outset a
marked feature Of the company's man
agement. Another occasion will be
chosen to set forth some of the more in
teresting details of the company's his
tory, it's careful progress, its conserva-
tive changes in the bases of it's calcula-
lions, and it's more scientific and equit-
able adjustments in the matters of re-
turns of surplus and the application of
reserves on lapsing policies.
For the purposes of this report it is
sufficient to call your attention to the
following striking group of facts.
From it's organization to January /,
1896 the company received
For premiums, sls1 1868 $500
For Interest, 13.553,.S2 IS
For rents, 6,S0t S45.96
Bal. profit and loss, 93507s.s4
Total receipts $26S,T1 1885, IS
1t has paid 26310
death claims for So, OHs, 1882
6, 552 endownentsf for ID, 1865 Sl0.30
Surrendered poles, 1904 4Sl.99
For dividends, 54,6921I5.0;
A total returned to
policy holders or
their benefciar-
les, being 1888 p.
ct. OF the entire
premiums record SITE, 9l21S5.lS
1tna paid for ex-
penSes, 23,4193S64+
Taxes, 8,556,224.37
Total expenditures, sa7.9i7, .94
Bal. net assets, jan. /, 1896. $50, .64 020.64
1t has additional assets {see
statemen@, 1,eq5, 1851
Total assets, S62, T59, 785 .a5
That is, the amounts returned to pol
icy holders and their benefciaries
{s176912,1 1918 and the balance Of in
come after all Expenditures ESQ., 764;
o2o.64), aggregating s256,e76, 205.77, are
1869 per cent Of the entire amount re
eeived from policy holders. Adding the
further items of assets, as above the
percentage is 127.3S. This has been done
per cent of the income Both in what
has been done for the policy holders
and in the economy Of management
that is, in the low cost of the protec-
ton given, these results are equalled BY
no American company.
OPERATIONS IN 1895.
The year 1895 was one of prosperity
A fair gain in new business and in the
49,. q.
pense; a favorable mortality with con,
siderable saving therefrom; a substan
tial gain in surplus notwithstanding al
increased dividend; and general main
tenance of healthy conditions, are thu
chief feature Of the years experience.
We greatly regret that the new re
quirements Of the several state insur
ance departments interfere with oul
long continued practice of completed.
closing a years business before report
ing it, and compel us to close our books
while many items of business belonging
to the year were still outstanding. Ii
consequence we show an item of pre-
rniums in course of collection-for Thu
first time in many years-a larger I'm
collected interest and a slightly large
ratio of expense to income without al
actual increase than would otherwis
have been the case. The full expense
have been incurred without our havin,
received the full income to which the,
are referable. 1t is proper to say tina
we actually closed the years bushes
as has been our custom; but we are no
permitted to publish the result as hith
erto, as the figures would not agre
with those of the reprots required b,
the several departments.
THE OPERATIONS OF THE YEAR
as covered by our report to the Insur
ance departments are as follows:-
Net assets, Jan. l,
1895. 500, 546.59S.5
Less deductions
Once Building, 2OO,0OO.0o
Bal. net assets, s6o346, 1903 8
Received:
For prenfams, S4,6ol 4Z9.2y
rents. - 3,o97,5o5.s9
''a 1oss'' 14,2e94o
Total income, S7,T93, 2o4 8