The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-09-14
MANY % IC|ES IN FORGE
STATE INSURANCE COMMISSIONERS
ANNUAL REPORT Is AN IN
TERESTING DOCUMENT
INSURANCE ABOUT $1o4, 900, 900
Two Companies Did Industrial Bus
mess and Thirty-five Casualty
Institutions Made Returns
Some Suggestions.

Two COmpanies Did Industrial Bus
mess and Thirty-five Casualty
Institutions Made Returns
Some Suggestions.
The twenty-ninth annual report of the
state insurance commissioner, now in the
hands of the printer, will, among other
things, contain the following:
Since the issue of the 1899 report of this
department, six level premium life COM
panies have been admitted to the state,
one has Withdrawn, and one relnSureu:
At the close of last year, Dec 81, 1879,
the level premium companies admitted
10 this state reported, exclusive OF indus
trial business, total in force upon Min
nesota risks of 4SS12 policies, aggregating
Sl04, 593, 066 of insurance. This represents
a net increase of Minnesota business TO
this class of companies of 4,4Z poncles,
and SIS, 600 600 insurance during the year.
About one-third of this increase, now
ever must be credited to several supu-
,ated premium companies that reincorpor
ated and were re-admitted during the
wear as level life companies. thereby
transfe1rin to the level premium sum
maries business that had been originally
secured and previously reported as aSSe s.
ment business.
The total premium receipts in Mime
sofa for :he year amounted to $SSSO,lt92z,
an increase of $474,S67 over the receipts
reported for the year 1883
INDUSTRIAL INSURANCE.
OF the various level premium life COM
panies admitted to the state, only four
of them do an Industrial business. and
but two of these, the Metropolitan Life
Insurance company, of New York, and
the Prudential Insurance. company, OF
Newark, do such business in Minnesota.
These two companies reported 80, a. IN
dustriaI policies, amounting to 1851 1855
insurance in force in Minnesota at the
close of last year, an increase over the
amount shown at the close of the year 1893
If 1874 policies, and $l,09S 4O6 of insur-
ance They collected from n no u, al
business in the state during 1899. $l1S,S SO
premiums as against $50, lO5 collected from
the same source in 1898, an increase of
over 81 per cent.
GENERAL CASUALTY INSURANCE.
The general casualty companies now re-
port ten different kinds of business being
done in this state. There are thirty-hve
of such companies. A few confine them
selves to one class, but most Of them en-
gage in two or more classes OF business.
The number of companies engaged in
each class OF business in this state is as
follows:
A oeId7eRt isbi 7f B9agPa Boiler
ity 49,. 80. II Heaith :. -.
Plate Glass 1890. 10Sprinkler Leakage
EideIity :. .,.... 9 title - ''.,-''''
The total premium receipts in the state
of all such companies, and upon all the
different classes of business, for. the year
1899, amounted to $685.. S29, as against $751;
1897, and $459 T0S for the year 1896.
In 1886 and 1897 personal accident bust
ness contributed the largest item to the
total general casualty premium receipts
in this state. In 1888 and 1899 employers
liability took the lead, exceeding the
personal accident business by $lS,094 In
1898, and by $1S,793 in 1899 Next in I'M
portance, as source of premium receipts
for 1899, comes the fidelity business. then
surety, plate glass. steam boiler, burglary,
title, sprinkler leakage, and health, in the
order named.
DEPOSIT OF FOREIGN COMPANIES.
During the year 1899 the North Amer
lean Life Assurance Company OF toronto,
Ontario, entered the United states Tor
general business, selecting the state OF
Minnesota as it's home state, or initial
state of deposit, in this country. Here
tofore most all foreign companies, upon
entering the United States, have selected
bither New York or Massachusetts, as
their home state, and have put up their
required original deposit capital there.
Very rarely has any other state been
chosen. This is the first deposit of for
eign capital ever made IN the state OF
Minnesota. The management Of the
North American. after careful consider
alton Of the entire situation. concluded
that a better class of risks and more
desirable investments could be secured
by locating in the Northwest than by
following the usual custom of entering
the United States through some Eastern
state.
Our state laws require that all level
premium life companies shall, before be-
Ing authorized to transact business, make
In some state a deposit Of at least $780,
900 for the protection of all their con-
visions are upon the statute books of
most all other states. It was in COM
pliance with this provision that the above
named company invested 100000 In Min
md doTnC1tnd
double the amount required-with this
department for the protection of all It's
policy holders In the United States.
LIFE INSURANCE CLEARING COM
PANY.
The Life Insurance Clearing Company
Of st. Paul, Mimi, Incorporated March
"A, 1897, reinsured its living risks with
the Security Trust and Life Insurance
Company Of Philadelphia, Pa, under date
of Aug. II, 1899. Under the terms of the
reinsurance contract the amount paid to
the Security Trust and Life Insurance
post of 100000 with this department,
but to remain on deposit until the rein
surtng company should substitute its
own policies for those Of the clearing
cease by death or otherwise
The original deposit of the Life Insur-
ance Clearing company, made for the
protection mo Of po all Its policy holders. in the
amount of $4,000 in Minnesota state
bonds, which have been called in and
redeemed by the state since the date
of the reinsurance These redeemed
bonds were portion of those transferred
TO the Security Trust and Life Insur-
ance company. Inasmuch as the balance
remaining on deposit is more than enough
to cover the liability of the company, on
account of policies reinsured no addi
tional deposit was required in Her of
those redeemed.
ASSESSMENT LIFE AND ACCIDENT.
Since the last report six companies have
Incorporated under the co-opera tive or
assessment laws of this state to trans
act life and casualty business During
tle same period twelve companies of this
CLASS nave ceased doing business. either
oy being closed by the department or NV
felnsurlng In other companies The TO-
tal number of such companies. Including
Inc nose from other states, now transact
ing business in Minnesota is fifty. or
thlrty less than the number opera fins,
curing the previous year. The total hus.
mess OF all such companies transacted In
1ne state Tor the year 1899 shows a con-
SIDERABLE decrease, which is due princi-
paly TO the fact that fewer comnanies
merly. Aof-
FRATERNAL SOCIETIES.
FIFTY fraternal societies reported for
the year 1889, as against forty-fve for Pc
In Minnesota increased from 58 OeG 70 o.
~, and the amount of Insurance fror3
kS5,eOOWO to $122 100000 This increasn'
hoM;eVer does not wholly represent new
large societies had been operatine 81 a. al
minnesota without the sanction Of thie
oeD tment As far as possible snch
reG,,iro we're re looked up and the societies
brought in the Royal Arcanun. Kn;1b tts
OF honor and one or two others Thai