Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1900-03-08
Well Known Insurance Company
Transferred to Big New
York Company.
REASONS FOR THE CHANGE.
Metropolitan Life Insurance Company
Will Reinsure All Policy Holders in
the Vermont Company and AS
sumo All Liabilities Office in
This City For the Present.

and the Metropolitan Life Insurance com /
| pany Of New York. tending toward Il I
| transfer of the entire business of The for
mer company to the New York institution, /
IhaVc been completed.
The events which have led up to this
transfer which will be unexpected to the
Ipoicy holders and TO all of those out
side the stockholders and others in Ill 4
IrcCt interest, are several. The decision 20
lncgotiate the transfer of the company was
reached by the directors only after Il de- /
Ilhcrat" and careful consideration OF the !
lsiuation. Since this decision was reach !
| ed the actuarics of the Metropolitan Ittc
Insurance company have been in this city,
depending several days time in the OK
Iamination of the policies and other pa
Ipers of the retiring company ana on find
ling 1t satisfactory tho transfer was ar
ranged The actual change of ownership
has not yet taken place, but every detail
preparatory to this step has been cN-
ieCuted.
| The transfer is made under re-insur-
Bnce agreement 10y which The poliCy-hold-
| ers Of the Vermont lif" Insurance COM
panY arc fuzzy protected and continue
| their payment of premiums for which they
| received insurance protection similar 10
| that already given. When the transfer
| has been made the company acquiring the
| business will send out notices to al The
policy holders and also a transfer agree
ment in which they Will assume the LA
bilty Of the old company under which
the policy was issued The transfer of
the local company to the New York in
stitution includes the building which they
now occupy on Main street in this city,
and all of its equipment
With reference to the reason for the re-
insurance of the company's policY-hold"rs
In - nov comnanv il has been said that
tho ,rosont conditions which nrevniI i'm
tho hrsinnes Of no insurance and tho
LARGO cormissiors Maid win other rx
,,,,,.se ;rnidart 70 Tho ororatioD Of tba
i,.i,,.. ,rd,r tta oot ~ eocu,i,,
NON, hnsin,ss verv exnensivo ana
,,,,,, oor,n.n,. ondoayo,ing to establish
ttsolr ,nn,,ira ,bn snn,e nri,ilae -
.t,t ,,, = ffn,i,i ,1 ,.c,,,,,,.i,,,, ,rs,ituti7rs
'i'i,,- t,sir,s, n, otba, en-. Ntlor ,
c,raT,1 consideration rho directors nf the
>,rr,,t I if t,,s,rn,,co ,,,,,,,,,,,. o,.,td.d
49,, ,ii ,,,,. - ,,rana ti,,,,, -, ,fy.,', =, 49,
irs,,r,,ro nc ,ho noIirv hnldars and nv 81
Ianin, tn nrnso,.,.o and maintain ali nf the
,,i,.jlas,os that tbo,, now oninv VA ,rr-
i.ra,,r.. ~, ,ii,' s,,,r,,stinn whirh bn. conn.
aim tI. rh,nen thnt the comunn, we're
s,efa,.',,. ,r,,, , GnnncinI o,oha,,.a .sn,..,,t
!, i. n,,,lutainrd maj tha statement is All
49,. ,r y,'" ,a.tsr ~ ,i, h,'si
u,... sho,,id M, i'm ,nv sons, hr rnns,r,,od
a.. - ,,iI,,ra nf mo cn,nranv Thev mad mo-
,,,i,, r,,li,,,r 80. ,nrI;I in.,... ar claims
lil.,,. ., ,rn7,,,l, tha cn,,rar,. \ithar
',. 'ir .,,,.. ,r,..r.ti,,,. ,,a,,.r,..,,t. Ton.
,,hicb nm. ,omn,u, vas ,nnrennr.d TN.
rr,n,,an, claim =. Lal,uc. ar .,bout sIi $40
i'm M. h.,,,Ls and ma thay haze. leaned I'm
his ,.i,i,,itv d,rin,s th. n,st .iv months
,rl. ,ioci.io,, of tn. ,iir.,,ors vas ,na,l,..
du,i,., tb.. month az I,hr,,,,,.,. m. win
.u,.,n,, ,v,s rnulIiro1 tn b,. dom. brforo
,I, ,.,,.l, ,,.,,., ot w.. ,,o,,,i of Na,.b b,1
tnss.d and the. limited Inn. uy4ilali,.
,,,,.s.it.,tad th,. -,ir,,tiou of n,,,. ,on,n,uv