The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-03-09
MIR. BELTS ANNUAL REPORT
FINANCIAL STATUS or INSURANCE
COMPANIES.

Their Condition Greatly Improved-Re-
duced Fire Losses Connecticut should
be Protected-Foreign Insurance Com
panies Should be Observation-Disclosures of
Last Year Larger Than Preceding Ones.
The thirty-second annual report of
the insurance commissioner has been
submitted by Commissioner F, A. Belts,
for the term ending December 81, 1896,
The report states that the condition of
the fire insurance companies doing bus
mess in Connecticut has materially
improved over December 81, 1895, While
market values of assets are about the
same the volume has increased and
also the surplus in still greater pro-
portion, Notwithstanding that more was
paid out in dividends and that the rate
of interest earned in 1896 has fallen to
1856 per cent. on mean assets.
A larger amount of business was out
standing December 81, 1896, than the
year before. The ratio of expenses and
losses paid to rpemiums received are
respectively 1882 per cent, and 54,39
per cent. for the year 1896, against 1915
and 57.36 per cent. for 1895. These i'm
provements are due largely to the re-
duced fire losses of 1896.
On the examination of companies,
Commissioner Belts says: IAN insur-
ance companies chartered by this state
may be examined once in four years or
oftener, and it is my opinion that for
eign companies doing business in this
state should be examined by their own
state departments at least once in five
years. The state of Connecticut pro-
tects the insured interests of other
states, and in return our own people
should be protected"
Comparing the standing of 124 COM
panies now operating with the III com
panies operating in 1856, we find an in
crease in assets of s19, 800, e55, in la
bilities of 6, $50, 161 and in surplus of
S13,640,494. The surplus Of the 1O1 stock
companies is 500, sol, 261, an increase in
surplus OF $13, 269,225.
The % mutual companies have sur
plus of $2,8046SS, as against $2433, 419,
shown by % companies last year
The assets of the 124 companies
amount to $243, 666, 069 the liabilities in
Guiding reinsurance reserve, capital,
script, and special funds to $1T6, $50, 100,
and the surplus over all to $66, 705949.
The liability for reinsurance amount
ed to $10S, 524, 0S1.07. for unpaid losses to
$40 966, 717.03 and for all other liability
to $10,o54, 1200e
The net amount of insurance in force
was SIT, 1857, 164794, an increase of $780,
535, 695 in the amount carried by Ill
companies last year
The assets of the Connecticut stock
companies is $37,74S, 1881, liabilities
$2S, 957. S26.91, surplus 50, $50 $50. 40; of the
Connecticut Mutual companies, assets
81, 795, PA 80, liabilities $416, 51035, surplus
81 37S, 1887.
The New Hampshire Fire increased
it's capital 100000. no other material
alterations being made in the capital
of any company. The increase in assets
amounts to over $4,000, 1000 The liabil-
tiles show a decrease of nearly three
quarters of million dollars.
The increase in assets during 1895
was about ST. 500, 600 greater than the
increase in 1895. excluding the increase
in capital stock.
The surplus increase and the divi-
dends taken together show the earn
| ings of 1896 to have been 500 1919. 703, a
gain over 1895 of $4,010,017
| The total income for 1896 was 1929, 500, :
! 561, and the total outgo, including the
/ L,lo Af 4 "a,
| S11S,674,017. The excess of income over
expenditure was 1895, 544 this excess
being nearly 81 per cent. of the increase
| in assets.
Risks in force December 81, 1896, were
4 $685., 452,9 18 greater than at the end of
| the previous year, but the increase in
amount was only one-half as great as
during 1895, The amount written was
| 1929, 460, 534 less than in 1896 The aver
| age premium rate shows 04 lower than
| the year before
| The risks in force by Connecticut
| companies were: In 1895, $2,469, 241 1875;
written during the year, sl,S34 S14.672.
In 1896. $2546. 500, 479; written during the
year $1,9O6, 6s1,S73.
| In, the summary of company state
ments that of the only local insurance
company, the Security, will be of inter
est Summarized, it Is as follows:
Ledger assets, December 81, 1894
1927 1861 Sc; income for 1896 1851, 40S SO.
Total ledger assets, $1,0S5375.69
Disbursements. 1895, SASS 676.40; ledger
assets, December 81, 1895, $626. 500 20
Admissible ledger assets S603 S63. 81
non ledger assets. S,55242 Total adj
mitted assets. December 81, 1895, $692,-
416.O3 Total liabilities, $685., 74247 Cap
| ital stock, $20000o surplus, $109673.56