The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-02-24
INSURANCE STATISTICS.
Annual Report of Commissioner Belts
on the Marine and Fire Insurance
Companies.

Annual Report of Comm tssiOner Belts
ON the Marine and Fire Insurance
Companies.
Insurance Commissioner Frederick A.
Belts yesterday submitted to Governor
Lounsbury Part I of the thirty fourth
annual report Of the insurance depart
ment of the state dealing with fire and
marine companies. Following is an ex-
haustive abstract:
The report is prefaced by the state
ment that the reports Of fidelity, sure
ty, casualty, steam boiler and other
forms of insurance companies will APP
pear in Part III Of the insurance report
as they did last year, and proceeds as
follows:
During 1898 nineteen fire insurance
companies were admitted to this state
These new companies have a total capt.
talization of $3,950,00O.
| Ten fire insurance companies have
withdrawn from the state since Janu-
airy 1, 1885, Their total capitalization is
$2,050,0O0
lHS ICcIlSe OL the MdUudL ldH TlIe III
surance company was revoked for non
compliance with the laws of this state.
The following table indicates the num-
Der of companies doing business in this
state during the years named and shows
an increase Of nine over 1897:
| 1890, 11S companies; 1891, ia; 1892, 113;
1898, ia; 1894, ITO; 1895, Ill; 1896, 1876;
1897 142; 1898, ISL.
| The year just passed has not been a
very satisfactory one for fire insurance
companies, owing to the failure to real
lie the necessity for maintaining rates
which will enable underwriting to be
done at a profit. An inspection of many
of the reports this year will show that
the chief source of gain may be found
in the investment department rather
than in the underwriting. The list of
Withdrawals is an indication of the in
ability of the smaller companies to
Withstand the suicidal competition
which now exists.
The standing of the $50 companies
operating in this state during 1898 shows
aggregates as follows: Assets, s2S0,524,-
6SC,Ss; liabilities dncluding capitaD,
$3.50, 1857, 474.19; surplus over all liabilities,
$1OO ,O57, 2O6.69
These aggregates compared amount
for amount with the lao companies
operating in 1897 show an increase in
assets of s1G,601, S07,72; and an in
crease in surplus Of SO, 252, 442S3.
The new amount of outstanding in
surance was S19,657 79O,242, an increase
of 81. 1863, 761, 1856 over the amount shown
by 140 companies last year.
The total income in 1898 was $136, $780,
53S, and the total outgo was S132, III, GA.
The excess of income over expenditure
was 1891 ,924.
Premium receipts show decrease of
S2015,91S, about six times as, great a
falling off as was shown in 1897 for 1914
companies.
The amount paid for losses was So
175,3S1 more in 1893 than in 1897, and ex-
penses were s1,4S3,749 greater.
Dividends paid in 1898 exceeded the
amount paid in 1897 by Sab 2O5.
Risks in force December 81, 1898, We're
1881, $50, 5SS greater than al The end OF
the previous year, and the increase in
amount written during the year was
1902 ,607,S 1854. The average premium rate
again shows 06 lower than the year be-
tore.
The increase in risks written in this
State was $1,432,S94 Premiums fell off !
$40, 130.53 and losses were $220,S72. 16 |
more than in 1897. The per cent. of
losses incurred to premiums received
was 4S.71, last years figures being 40.14.
Under the head, Marine and Inland !
Navigation Insurance" the report con-
tinues:
Twenty-Five of the companies operat-
ing in this state wrote risks of the !
above class, not including the Marine of |
London. which carries on this class of |
insurance exclusively. The amount of !,